Topics
Dive into each indicator for Michigan.
$237,000
Median home value
$1,080
Median monthly rent
2023
73.4%
Homeownership rate
Top 10 in the U.S.
4.6 M
Total housing units
11.9%
Vacancy rate
≈ 20,500
Building permits
2023
1.32%
Effective property tax
48%
Homes built before 1970
Historical data
Long-run evolution of the key indicators, so you can see the trend — not just today's snapshot.
Median home value
1950–2023$237,000▲ 2533%
Census / Zillow ZHVI, nominal dollars.
Homeownership rate
1950–202373.4%▲ 9%
Census Housing Vacancy Survey.
Data table
| Median home value | $237,000 | |
| Median monthly rent | $1,080 | 2023 |
| Homeownership rate | 73.4% | Top 10 in the U.S. |
| Total housing units | 4.6 M | |
| Vacancy rate | 11.9% | |
| Building permits | ≈ 20,500 | 2023 |
| Effective property tax | 1.32% | |
| Homes built before 1970 | 48% |
Compared to the United States
Coming soon
Side-by-side comparison of Michigan vs. the U.S. average.
National ranking
Coming soon
The national ranking against every other state will appear here as more states are published.