Dearborn, Michigan Housing Market Prices
Dearborn 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 41% above the Michigan median$195,817
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Median rent 18% above the Michigan median$1,327
Housing Market Overview
| Metric | Dearborn | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $195,817 | $138,713 | $248,835 |
| Price Trend (Annual %) | 7.8% | 8.6% | 7.5% |
| Median Gross Rent | $1,327 | $1,129 | $1,407 |
| Rent Trend (Annual %) | 3.9% | 4.5% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Dearborn is about 41% higher than in Michigan. Rent is about 18% 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 Dearborn, up about 7.8% and 3.9% a year respectively. Home prices are changing faster.
Median rent in Dearborn rose about 37.3% between 2015 and 2024, from $966 to $1,327. Over the same span, rent in Michigan rose about 44.2%.
Affordability
On average, housing unit costs 3.0 yearly household incomes in Dearborn.
Buying the median-priced home in Dearborn costs roughly 12.3 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Dearborn. The price-to-rent ratio in Michigan is about 10.2.
| Metric | Dearborn | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $195,817 | $138,713 | $248,835 |
| Median Household Income | $64,236 | $72,977 | $80,455 |
| Price-to-Income Ratio | 3.0 | 1.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Dearborn rose about 54.7%, while median household income rose about 27.6% 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 | Dearborn | Michigan Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 63.7% | 64.6% | 58.5% |
| Rental Rate | 29.4% | 23.6% | 31.2% |
| Vacancy Rate | 6.8% | 11.8% | 10.2% |
| Median Tenure (years) | 13.0 | 16.0 | 15.0 |
| Median Year Moved In | 2013 | 2010 | 2011 |
Dearborn has a homeownership rate of 63.7%, lower than the Michigan average of 64.6%. Its housing vacancy rate is 6.8%, compared with 11.8% in Michigan.
Housing Stock
| Metric | Dearborn | Michigan Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.92 people | 2.42 people | 2.53 people |
| Median Structure Built Year | 1954 | 1972 | 1978 |
| Median Number of Rooms | 5.9 | 5.9 | 5.5 |
The typical housing unit in Dearborn was built around 1954. On average, 2.9 people live in a home with about 5.9 rooms, staying for about 13.0 years on average.
Dearborn, MI Housing Compared With Nearby Cities
How Dearborn, MI compares with the 2 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Dearborn, MI | 107,299 | $195,817 #1/3 | $1,327 #2/3 | 68.4% #3/3 |
| Allen Park, MI | 27,928 | $144,722 | $1,245 | 87.3% |
| Dearborn Heights, MI | 61,726 | $118,327 | $1,331 | 70.5% |
Frequently Asked Questions
Common questions about the housing market in Dearborn, Michigan.
What is the median home price in Dearborn, Michigan?
The median home price in Dearborn, Michigan is $195,817, higher than the Michigan average of $138,713.
What is the average home price in Dearborn, Michigan?
The typical home price in Dearborn, Michigan, reported as the median sale price, is $195,817. 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 Dearborn, Michigan?
The median gross rent in Dearborn, Michigan is $1,327 per month, higher than the Michigan average of $1,129.
What was the median gross rent in Dearborn in 2020?
In 2020, the median gross rent in Dearborn, Michigan was $1,019 per month.
What is the price-to-rent ratio in Dearborn, Michigan?
The price-to-rent ratio in Dearborn, Michigan is about 12.3, meaning it would take roughly 12.3 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Dearborn.
Are home prices or rent rising faster in Dearborn, Michigan?
Both home prices and rent are rising in Dearborn, up about 7.8% and 3.9% a year respectively. Home prices are changing faster.
What is the homeownership rate in Dearborn, Michigan?
63.7% of households in Dearborn, Michigan own their home, lower than the Michigan average of 64.6%.
What is the vacancy rate in Dearborn, Michigan?
The housing vacancy rate in Dearborn, Michigan is 6.8%, lower than the Michigan average of 11.8%.
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