Hamtramck, Michigan Housing Market Prices
Hamtramck 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 23% below the Michigan median$106,250
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Median rent 12% below the Michigan median$989
Housing Market Overview
| Metric | Hamtramck | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $106,250 | $138,713 | $248,835 |
| Price Trend (Annual %) | 28.3% | 8.6% | 7.5% |
| Median Gross Rent | $989 | $1,129 | $1,407 |
| Rent Trend (Annual %) | 5.3% | 4.5% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Hamtramck is about 23% lower than in Michigan. Rent is about 12% lower 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 Hamtramck, up about 28.3% and 5.3% a year respectively. Home prices are changing faster.
Median rent in Hamtramck rose about 54.1% between 2015 and 2024, from $642 to $989. Over the same span, rent in Michigan rose about 44.2%.
Affordability
On average, housing unit costs 2.7 yearly household incomes in Hamtramck.
Buying the median-priced home in Hamtramck costs roughly 9.0 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 Hamtramck. The price-to-rent ratio in Michigan is about 10.2.
| Metric | Hamtramck | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $106,250 | $138,713 | $248,835 |
| Median Household Income | $39,568 | $72,977 | $80,455 |
| Price-to-Income Ratio | 2.7 | 1.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Hamtramck rose about 106.2%, while median household income rose about 42.1% 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 | Hamtramck | Michigan Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 49.5% | 64.6% | 58.5% |
| Rental Rate | 35.5% | 23.6% | 31.2% |
| Vacancy Rate | 15.0% | 11.8% | 10.2% |
| Median Tenure (years) | 11.0 | 16.0 | 15.0 |
| Median Year Moved In | 2015 | 2010 | 2011 |
Hamtramck has a homeownership rate of 49.5%, lower than the Michigan average of 64.6%. Its housing vacancy rate is 15.0%, compared with 11.8% in Michigan.
Housing Stock
| Metric | Hamtramck | Michigan Avg | US Average |
|---|---|---|---|
| Average Household Size | 3.86 people | 2.42 people | 2.53 people |
| Median Structure Built Year | 1939 | 1972 | 1978 |
| Median Number of Rooms | 5.6 | 5.9 | 5.5 |
The typical housing unit in Hamtramck was built around 1939. On average, 3.9 people live in a home with about 5.6 rooms, staying for about 11.0 years on average.
Hamtramck, MI Housing Compared With Nearby Cities
How Hamtramck, MI compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Hamtramck, MI | 27,670 | $106,250 #1/2 | $989 #2/2 | 58.2% #1/2 |
| Detroit, MI | 638,394 | $11,931 | $1,073 | 50.4% |
Frequently Asked Questions
Common questions about the housing market in Hamtramck, Michigan.
What is the median home price in Hamtramck, Michigan?
The median home price in Hamtramck, Michigan is $106,250, lower than the Michigan average of $138,713.
What is the average home price in Hamtramck, Michigan?
The typical home price in Hamtramck, Michigan, reported as the median sale price, is $106,250. 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 Hamtramck, Michigan?
The median gross rent in Hamtramck, Michigan is $989 per month, lower than the Michigan average of $1,129.
What was the median gross rent in Hamtramck in 2020?
In 2020, the median gross rent in Hamtramck, Michigan was $742 per month.
What is the price-to-rent ratio in Hamtramck, Michigan?
The price-to-rent ratio in Hamtramck, Michigan is about 9.0, meaning it would take roughly 9.0 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 Hamtramck.
Are home prices or rent rising faster in Hamtramck, Michigan?
Both home prices and rent are rising in Hamtramck, up about 28.3% and 5.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in Hamtramck, Michigan?
49.5% of households in Hamtramck, Michigan own their home, lower than the Michigan average of 64.6%.
What is the vacancy rate in Hamtramck, Michigan?
The housing vacancy rate in Hamtramck, Michigan is 15.0%, higher than the Michigan average of 11.8%.
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