Birmingham, Michigan Housing Market Prices
Birmingham Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 433% above the Michigan median$739,872
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Median rent 68% above the Michigan median$1,900
Housing Market Overview
| Metric | Birmingham | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $739,872 | $138,713 | $248,835 |
| Price Trend (Annual %) | 7.5% | 8.6% | 7.5% |
| Median Gross Rent | $1,900 | $1,129 | $1,407 |
| Rent Trend (Annual %) | 4.6% | 4.5% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Birmingham is about 433% higher than in Michigan. Rent is about 68% higher than the Michigan average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Birmingham, up about 7.5% and 4.6% a year respectively. Home prices are changing faster.
Median rent in Birmingham rose about 50.2% between 2015 and 2024, from $1,265 to $1,900. Over the same span, rent in Michigan rose about 44.2%.
Affordability
On average, housing unit costs 4.8 yearly household incomes in Birmingham.
Buying the median-priced home in Birmingham costs roughly 32.4 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Birmingham. The price-to-rent ratio in Michigan is about 10.2.
| Metric | Birmingham | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $739,872 | $138,713 | $248,835 |
| Median Household Income | $154,078 | $72,977 | $80,455 |
| Price-to-Income Ratio | 4.8 | 1.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Birmingham rose about 69.0%, while median household income rose about 47.2% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Birmingham | Michigan Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 70.0% | 64.6% | 58.5% |
| Rental Rate | 21.2% | 23.6% | 31.2% |
| Vacancy Rate | 8.8% | 11.8% | 10.2% |
| Median Tenure (years) | 13.0 | 16.0 | 15.0 |
| Median Year Moved In | 2013 | 2010 | 2011 |
Birmingham has a homeownership rate of 70.0%, higher than the Michigan average of 64.6%. Its housing vacancy rate is 8.8%, compared with 11.8% in Michigan.
Housing Stock
| Metric | Birmingham | Michigan Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.28 people | 2.42 people | 2.53 people |
| Median Structure Built Year | 1962 | 1972 | 1978 |
| Median Number of Rooms | 6.7 | 5.9 | 5.5 |
The typical housing unit in Birmingham was built around 1962. On average, 2.3 people live in a home with about 6.7 rooms, staying for about 13.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Birmingham, Michigan.
What is the median home price in Birmingham, Michigan?
The median home price in Birmingham, Michigan is $739,872, higher than the Michigan average of $138,713.
What is the average home price in Birmingham, Michigan?
The typical home price in Birmingham, Michigan, reported as the median sale price, is $739,872. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Birmingham, Michigan?
The median gross rent in Birmingham, Michigan is $1,900 per month, higher than the Michigan average of $1,129.
What was the median gross rent in Birmingham in 2020?
In 2020, the median gross rent in Birmingham, Michigan was $1,666 per month.
What is the price-to-rent ratio in Birmingham, Michigan?
The price-to-rent ratio in Birmingham, Michigan is about 32.4, meaning it would take roughly 32.4 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Birmingham.
Are home prices or rent rising faster in Birmingham, Michigan?
Both home prices and rent are rising in Birmingham, up about 7.5% and 4.6% a year respectively. Home prices are changing faster.
What is the homeownership rate in Birmingham, Michigan?
70.0% of households in Birmingham, Michigan own their home, higher than the Michigan average of 64.6%.
What is the vacancy rate in Birmingham, Michigan?
The housing vacancy rate in Birmingham, Michigan is 8.8%, lower than the Michigan average of 11.8%.
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