Cities with the most expensive homes in Michigan
Purchasing a home is one of the most important investments there is. More than a place to live, homeownership is an asset with the potential to tremendously rise in value. But with home prices reaching record heights, affordability plays a huge role for buyers.
The typical home value in the United States was $358,761 in November, 2.3% higher than the year before.
High mortgage rates are also making monthly payments more expensive; as of December 19, the 30-year fixed mortgage rate sits at 6.72%.
Although home prices have inflated all across the U.S., there are some cities that command a higher price tag than others. Location, size, age, and condition are all contributing factors to home value.
Stacker compiled a list of cities with the most expensive homes in Michigan using data from Zillow. Cities are ranked by the Zillow Home Values Index for all homes as of November 2024. The charts in this story were created automatically using Matplotlib.
Metros with the most cities in the top 30 in Michigan
#1. Detroit-Warren-Dearborn, MI: 11
#2. Traverse City, MI: 8
#3. Niles, MI: 4
#4. Grand Rapids-Kentwood, MI: 2
#4. Holland, MI: 2
#6. Ann Arbor, MI: 1
You may also like: How much Michigan composts
#30. Cedar
– Typical home value: $486,537
– 1-year price change: +3.6%
– 5-year price change: +60.9%
– Metro area: Traverse City, MI
#29. Huntington Woods
– Typical home value: $487,034
– 1-year price change: +6.2%
– 5-year price change: +33.9%
– Metro area: Detroit-Warren-Dearborn, MI
#28. Ann Arbor
– Typical home value: $495,371
– 1-year price change: +4.7%
– 5-year price change: +30.5%
– Metro area: Ann Arbor, MI
#27. Harbor Springs
– Typical home value: $496,281
– 1-year price change: +3.1%
– 5-year price change: +65.0%
– Metro area: not in a metro area
#26. Beverly Hills
– Typical home value: $521,096
– 1-year price change: +6.5%
– 5-year price change: +39.1%
– Metro area: Detroit-Warren-Dearborn, MI
You may also like: Most socially connected counties in Michigan
#25. Cascade
– Typical home value: $532,599
– 1-year price change: +6.1%
– 5-year price change: +49.2%
– Metro area: Grand Rapids-Kentwood, MI
#24. Northville
– Typical home value: $533,693
– 1-year price change: +4.1%
– 5-year price change: +32.3%
– Metro area: Detroit-Warren-Dearborn, MI
#23. Bingham Farms
– Typical home value: $556,667
– 1-year price change: +4.9%
– 5-year price change: +31.9%
– Metro area: Detroit-Warren-Dearborn, MI
#22. Saugatuck
– Typical home value: $570,430
– 1-year price change: +7.7%
– 5-year price change: +71.4%
– Metro area: Holland, MI
#21. Maple City
– Typical home value: $575,833
– 1-year price change: +5.1%
– 5-year price change: +62.9%
– Metro area: Traverse City, MI
You may also like: Metros in Michigan that are best for nurses
#20. New Buffalo
– Typical home value: $592,878
– 1-year price change: +4.5%
– 5-year price change: +60.3%
– Metro area: Niles, MI
#19. Oakland
– Typical home value: $597,426
– 1-year price change: +5.9%
– 5-year price change: +39.9%
– Metro area: Detroit-Warren-Dearborn, MI
#18. East Grand Rapids
– Typical home value: $599,859
– 1-year price change: +6.4%
– 5-year price change: +55.0%
– Metro area: Grand Rapids-Kentwood, MI
#17. Bloomfield Hills
– Typical home value: $604,646
– 1-year price change: +5.6%
– 5-year price change: +42.3%
– Metro area: Detroit-Warren-Dearborn, MI
#16. Glen Arbor
– Typical home value: $614,556
– 1-year price change: +8.5%
– 5-year price change: +58.4%
– Metro area: Traverse City, MI
You may also like: Where refugees in Michigan are arriving from
#15. Suttons Bay
– Typical home value: $618,757
– 1-year price change: +3.2%
– 5-year price change: +60.2%
– Metro area: Traverse City, MI
#14. Douglas
– Typical home value: $621,921
– 1-year price change: +10.1%
– 5-year price change: +58.0%
– Metro area: Holland, MI
#13. Empire
– Typical home value: $630,383
– 1-year price change: +3.0%
– 5-year price change: +56.2%
– Metro area: Traverse City, MI
#12. Birmingham
– Typical home value: $657,567
– 1-year price change: +7.6%
– 5-year price change: +35.1%
– Metro area: Detroit-Warren-Dearborn, MI
#11. Grosse Pointe Shores
– Typical home value: $690,330
– 1-year price change: +4.6%
– 5-year price change: +34.7%
– Metro area: Detroit-Warren-Dearborn, MI
You may also like: Best public high schools in Michigan
#10. Union Pier
– Typical home value: $716,421
– 1-year price change: +4.6%
– 5-year price change: +58.6%
– Metro area: Niles, MI
#9. Northport
– Typical home value: $747,742
– 1-year price change: +5.8%
– 5-year price change: +59.6%
– Metro area: Traverse City, MI
#8. Harbert
– Typical home value: $755,829
– 1-year price change: +6.5%
– 5-year price change: +58.8%
– Metro area: Niles, MI
#7. Lakeside
– Typical home value: $786,565
– 1-year price change: +4.8%
– 5-year price change: +51.9%
– Metro area: Niles, MI
#6. Kewadin
– Typical home value: $800,350
– 1-year price change: +6.2%
– 5-year price change: +90.6%
– Metro area: not in a metro area
You may also like: Where people in Michigan are moving to most
#5. Franklin
– Typical home value: $804,834
– 1-year price change: +7.1%
– 5-year price change: +42.9%
– Metro area: Detroit-Warren-Dearborn, MI
#4. Lake Leelanau
– Typical home value: $812,049
– 1-year price change: +6.8%
– 5-year price change: +64.0%
– Metro area: Traverse City, MI
#3. Orchard Lake
– Typical home value: $869,285
– 1-year price change: +4.7%
– 5-year price change: +40.6%
– Metro area: Detroit-Warren-Dearborn, MI
#2. Leland
– Typical home value: $1,087,076
– 1-year price change: +6.6%
– 5-year price change: +80.2%
– Metro area: Traverse City, MI
#1. Lake Angelus
– Typical home value: $1,664,008
– 1-year price change: +4.4%
– 5-year price change: +43.2%
– Metro area: Detroit-Warren-Dearborn, MI
You may also like: Best suburbs to live in Michigan
By Stacker
