I want to... 🏠 Sell my home | 🗝️ Buy a home | 🗺️ Find a new place to live in Michigan
💡 Key Michigan housing market facts
| Data Point | Value | Rank | Compared to National Avg |
| Typical Home Value | $245,716[1] | #39 of 50 states | 33% lower |
| Median Listing Price | $289,950[2] | #46 of 50 states | 34.2% lower |
| Median Sale Price | $266,600[3] | #42 of 50 states | 36.3% lower |
| 30 Year Mortgage Rate | 6.95%[4] | #15 of 50 states | 0.4% lower |
| Median Days on Market | 46[5] | #11 of 50 states | 18.1% shorter |
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🗺️ Buying a house in the Michigan real estate market
Michigan has an affordability score of 4.5, meaning it takes 4.5 years of the median household income ($59,234) to afford Michigan's median home sale price ($266,600). Because of this, we rank Michigan as the 5th most affordable state for buyers based strictly on prices compared to income.
| Data Point | Value | Rank | Compared to National Avg |
| Median Sale Price | $266,600[6] | #42 of 50 states | 36.3% lower |
| 30 Year Mortgage Rate | 6.95%[7] | #15 of 50 states | 0.4% lower |
| Median Household Income | $59,234[8] | #33 of 50 states | 8.2% lower |
| Affordability Ratio | 4.5 | #5 of 50 states | 29.6% lower |
| Buyers Agent Commission | 2.93%[9] | #50 of 50 states | 15.4% higher |
Resources for Michigan home buyers
Preparing to buy in Michigan
🗺️ Selling a house in the Michigan real estate market
According to our detailed survey of Michigan real estate agents, listing agents (those representing the seller) charge an average commission in Michigan of 2.93%, which is the 4th highest in the United States. Buyers' agents charge an average commission of 2.93%, which is the highest in the United States.
| Data Point | Value | Rank | Compared to National Avg |
| Median Listing Price | $289,950[10] | #46 of 50 states | 34.2% lower |
| Median Sale Price | $266,600[11] | #42 of 50 states | 36.3% lower |
| Median Days on Market | 46[12] | #11 of 50 states | 18.1% shorter |
| Buyer's Agent Commission | 2.93%[13] | #50 of 50 states | 15.4% higher |
| Listing Agent Commission | 2.93%[14] | #47 of 50 states | 7.6% higher |
Resources for Michigan home sellers
Preparing to sell in Michigan
- 8 Steps to Selling a House in Michigan
- Average Time to Sell a House in Michigan
- When Is the Best Time to Sell a House in Michigan?
- Top Real Estate Agents in Michigan
Michigan home selling costs and requirements
Moving to Michigan
According to our recent moving trends survey[15], 7% of Americans indicated that they would choose to move to Michigan if money were no object. Likewise, 6% of survey respondents indicated that they would move to Detroit among a choice of America's largest cities. Among medium-sized cities, 6% indicated that they would move to Grand Rapids.
Here's how Michigan cities rank in a number of our research studies.
| Study | Best Michigan city | Rank |
| Best Pizza Cities[16] | Detroit | 9th best |
| Best Coffee Cities[17] | Detroit | 45th best |
| Best LGBTQ Cities[18] | Detroit | 28th best |
| Best Bike Cities[19] | Detroit | 37th best |
| Best Commuter Cities[20] | Detroit | 45th best |