Cities with the Fastest-Growing Home Prices in Metro Detroit

The real estate frenzy spurred by the coronavirus pandemic continues, though at a slower pace. Buyers are still competing for a limited supply of housing, driving up prices for affordable properties.

The typical home value in the United States was $362,143 in August, 2.5% higher than the year before.

Increasing mortgage rates have slowed growth, with prices even declining in some places. But some areas are still seeing price jumps compared to the year before.

Stacker compiled a list of cities with the most expensive homes in the Detroit-Warren-Dearborn, MI metro area using data from Zillow. Charts show the monthly typical home value since January 2018.

10. Ray, MI

Stacker

• 1-year price change: +$23,875 (+6.5%)
• 5-year price change: +$127,443 (+48.0%)
• Typical home value: $392,783 (#33 most expensive city in metro)

9. Dryden, MI

Stacker

• 1-year price change: +$24,720 (+6.8%)
• 5-year price change: +$143,842 (+58.5%)
• Typical home value: $389,831 (#36 most expensive city in metro)

8. Beverly Hills, MI

Stacker

• 1-year price change: +$25,081 (+5.0%)
• 5-year price change: +$138,958 (+35.5%)
• Typical home value: $530,590 (#10 most expensive city in metro)

7. Rochester Hills, MI

Stacker

• 1-year price change: +$25,313 (+6.1%)
• 5-year price change: +$130,280 (+41.7%)
• Typical home value: $443,066 (#20 most expensive city in metro)

6. Troy, MI

Stacker

• 1-year price change: +$26,040 (+6.4%)
• 5-year price change: +$115,244 (+36.3%)
• Typical home value: $432,595 (#23 most expensive city in metro)

Looking for the best places to move in the Detroit metro area? Check out these stories:

• Best Places to Live in Metro Detroit
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• Most Affordable Places to Live in Metro Detroit

5. Franklin, MI

Stacker

• 1-year price change: +$26,502 (+3.4%)
• 5-year price change: +$221,034 (+37.5%)
• Typical home value: $809,836 (#3 most expensive city in metro)

4. Oakland, MI

Stacker

• 1-year price change: +$29,302 (+5.1%)
• 5-year price change: +$164,475 (+37.0%)
• Typical home value: $608,942 (#7 most expensive city in metro)

3. Bloomfield Hills, MI

Stacker

• 1-year price change: +$29,379 (+5.0%)
• 5-year price change: +$175,181 (+40.1%)
• Typical home value: $611,695 (#6 most expensive city in metro)

2. Lake Angelus, MI

Stacker

• 1-year price change: +$29,692 (+1.9%)
• 5-year price change: +$460,678 (+39.5%)
• Typical home value: $1,626,365 (#1 most expensive city in metro)

1. Birmingham, MI

Stacker

• 1-year price change: +$37,043 (+5.9%)
• 5-year price change: +$154,858 (+30.6%)
• Typical home value: $661,374 (#5 most expensive city in metro)

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