What is the housing market like in Detroit, Michigan in 2026?
The Detroit, Michigan housing market is cool in 2026. The median home price is $85,000 (down -1.2% year-over-year), with homes averaging 72 days on market. Detroit's ongoing revitalization has created a two-speed market: trendy neighborhoods like Corktown and Midtown see strong appreciation and rapid sales, while much of the city remains deeply affordable with opportunities for investors. The EV transition has reinvigorated the auto industry's economic impact.
Key Statistics
Detroit, MI — Housing Market Overview
Detroit, MI
Housing Market & Trends
Detroit's ongoing revitalization has created a two-speed market: trendy neighborhoods like Corktown and Midtown see strong appreciation and rapid sales, while much of the city remains deeply affordable with opportunities for investors. The EV transition has reinvigorated the auto industry's economic impact. The median home price in Detroit is $85,000, with 6.8 months of inventory and homes selling in an average of 72 days.
Detroit Market at a Glance
Detroit Market Overview
Understanding the Detroit real estate market helps buyers and sellers make informed decisions. Here's a detailed look at current conditions.
Price Trends
Home prices in Detroit have decreased -1.2% over the past 12 months. The median home price is $85,000, presenting opportunities for buyers.
List-to-Sale Ratio
The average list-to-sale ratio in Detroit is 93.5%, meaning homes typically sell slightly below asking price — giving buyers some negotiating room.
Days on Market
Homes in Detroit spend an average of 72 days on market. Sellers should focus on pricing and presentation to compete for buyer attention.
Inventory Analysis
Detroit currently has 6.8 months of housing inventory. This elevated inventory gives buyers more options and stronger negotiating power.
Top Neighborhoods in Detroit
These are the most sought-after neighborhoods in Detroit, Michigan. Each offers unique characteristics, amenities, and price points.
Corktown
Popular neighborhood in Detroit known for its community atmosphere and local amenities. Home prices and styles vary, offering options for different budgets.
Midtown
Popular neighborhood in Detroit known for its community atmosphere and local amenities. Home prices and styles vary, offering options for different budgets.
Indian Village
Popular neighborhood in Detroit known for its community atmosphere and local amenities. Home prices and styles vary, offering options for different budgets.
Royal Oak
Popular neighborhood in Detroit known for its community atmosphere and local amenities. Home prices and styles vary, offering options for different budgets.
Ferndale
Popular neighborhood in Detroit known for its community atmosphere and local amenities. Home prices and styles vary, offering options for different budgets.
Detroit Affordability Analysis
Median Home Price vs Income
With a median home price of $85,000 and median household income of $31,280, the price-to-income ratio is 2.7x. This is within traditionally affordable ranges.
Rent vs Buy Comparison
The median rent in Detroit is $950/month. At the median home price of $85,000, a typical mortgage payment (20% down, 30yr fixed) would be comparable. Factor in equity building, tax benefits, and appreciation (-1.2% last year) when deciding.
Population & Growth
Detroit has a population of 639,111 with -0.5% growth. Declining population may lead to softer home prices over time.
Affordability Index
165
Higher = more affordable (100 = national average)
Market Trend: Cool Market
Detroit, Michigan — as of 2026
Detroit is a cool market with higher inventory (6.8 months) and longer selling times (72 days average). Prices have changed -1.2% year-over-year. Buyers have more negotiating power, and sellers need to ensure their listings stand out to attract offers.
How Virtual Staging Helps in Detroit
In a cool market like Detroit, staged listings are essential to stand out from growing inventory. Virtual staging at $0.10/photo is the most cost-effective way to make your listing shine — staged homes sell 73% faster and for up to 5% more than unstaged ones.
Traditional Staging
- Cost: $2,000-$5,000+/month
- Timeline: Days to arrange
- Flexibility: One style per staging
Virtual Staging
Best Value- Cost: $0.10 per photo
- Timeline: Under 60 seconds
- Flexibility: Unlimited style options
Sell Faster in Detroit
Stand out in the Detroit cool market with AI virtual staging — just $0.10 per photo, ready in 60 seconds.
Explore More Markets
Detroit Housing Market FAQ
What is the housing market like in Detroit, Michigan in 2026?
The Detroit housing market is currently cool. The median home price is $85,000 (down -1.2% year-over-year), with homes spending an average of 72 days on market. There are 6.8 months of inventory, and the list-to-sale ratio is 93.5%.
What is the median home price in Detroit?
The median home price in Detroit, Michigan is $85,000 as of 2026. This represents a -1.2% change compared to the same period last year. The median household income is $31,280, giving the city an affordability index of 165.
Is Detroit a good place to buy a home?
Detroit is currently a cool market with a median home price of $85,000 and median rent of $950. The population is 639,111 with -0.5% growth. The affordability index is 165 (higher is more affordable). Top neighborhoods include Corktown, Midtown, Indian Village.
How fast are homes selling in Detroit?
Homes in Detroit spend an average of 72 days on market, with a list-to-sale ratio of 93.5%. There are currently 6.8 months of inventory. Buyers have more time to make decisions and negotiate.
What are the best neighborhoods in Detroit?
Top neighborhoods in Detroit include Corktown, Midtown, Indian Village, Royal Oak, Ferndale. Each neighborhood offers different price points, amenities, and lifestyles. Research local schools, commute times, and community features to find the best fit for your needs.
Related Detroit Guides
Los Angeles, CA
Median price: $975,000. Warm market with +4.1% price change.
View MarketSan Diego, CA
Median price: $890,000. Warm market with +3.8% price change.
View MarketSan Francisco, CA
Median price: $1,350,000. Hot market with +5.4% price change.
View MarketSan Jose, CA
Median price: $1,420,000. Hot market with +6.1% price change.
View Market