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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Harper Woods, MI Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Harper Woods, MI Housing Market Trends

With 15,167 people, 5,515 houses or apartments, and a median cost of homes of $171,596, house prices in Harper Woods are solidly below the national average.

Single-family detached homes are the single most common housing type in Harper Woods, accounting for 84.12% of the city's housing units. Other types of housing that are prevalent in Harper Woods include large apartment complexes or high rise apartments ( 7.81%), duplexes, homes converted to apartments or other small apartment buildings ( 6.25%), and a few row houses and other attached homes ( 1.61%).

The most prevalent building size and type in Harper Woods are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 59.11% owning and 40.89% renting.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Harper Woods's housing was primarily built during this period, from the '40s through the '60s. A full 84.06% of the city's housing hails from this era. Other housing ages represented in Harper Woods include homes built between 1970-1999 ( 12.38%) and housing constructed before 1939 ( 3.40%).

Harper Woods Home Appreciation Rates

In the last 10 years, Harper Woods has experienced some of the highest home appreciation rates of any community in the nation. Harper Woods real estate appreciated 153.25% over the last ten years, which is an average annual home appreciation rate of 9.74%, putting Harper Woods in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Harper Woods definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Harper Woods appreciation rates have trailed the rest of the nation. In the last twelve months, Harper Woods's appreciation rate has been 4.71%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Harper Woods were at -0.26%, which equates to an annual appreciation rate of -1.02%.

Relative to Michigan, our data show that Harper Woods's latest annual appreciation rate is lower than 90% of the other cities and towns in Michigan.

Average Home Values

Median Home Value

$171,596

Harper Woods, MI Home Prices
> $1,247,000
$936,001 - $1,247,000
$624,001 - $936,000
$499,001 - $624,000
$374,001 - $499,000
$249,001 - $374,000
$125,001 - $249,000
$62,001 - $125,000
$0 - $62,000
0.9%
0.9%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
1.1%
1.1%
7.1%
7.1%
53.3%
53.3%
28.0%
28.0%
9.6%
9.6%
0% 100.0%
% of Homes
Low

for Michigan

Low

for nation

Number of Homes And Apartments:

5,515

Harper Woods Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,915 / per month

Homeownership Rate

Owners
Renters
59.1%
59.1%
40.9%
40.9%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
6.4%
6.4%
93.6%
93.6%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
0.2%
0.2%
12.4%
12.4%
84.1%
84.1%
3.4%
3.4%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
84.1%
84.1%
1.6%
1.6%
6.2%
6.2%
7.8%
7.8%
0.2%
0.2%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
2.9%
2.9%
5.7%
5.7%
23.1%
23.1%
56.7%
56.7%
11.1%
11.1%
0.5%
0.5%
0% 100.0%
% of Homes