Pontiac, Michigan Housing Market Prices
Pontiac 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 56% above the Michigan median$215,970
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Median rent 6% below the Michigan median$1,064
Housing Market Overview
| Metric | Pontiac | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $215,970 | $138,713 | $248,835 |
| Price Trend (Annual %) | 35.7% | 8.6% | 7.5% |
| Median Gross Rent | $1,064 | $1,129 | $1,407 |
| Rent Trend (Annual %) | 4.4% | 4.5% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Pontiac is about 56% higher than in Michigan. Rent is about 6% 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 Pontiac, up about 35.7% and 4.4% a year respectively. Home prices are changing faster.
Median rent in Pontiac rose about 44.7% between 2015 and 2024, from $735 to $1,064. Over the same span, rent in Michigan rose about 44.2%.
Affordability
On average, housing unit costs 4.9 yearly household incomes in Pontiac.
Buying the median-priced home in Pontiac costs roughly 16.9 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Pontiac. The price-to-rent ratio in Michigan is about 10.2.
| Metric | Pontiac | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $215,970 | $138,713 | $248,835 |
| Median Household Income | $44,484 | $72,977 | $80,455 |
| Price-to-Income Ratio | 4.9 | 1.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Pontiac rose about 550.8%, while median household income rose about 29.4% 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 | Pontiac | Michigan Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 42.3% | 64.6% | 58.5% |
| Rental Rate | 48.1% | 23.6% | 31.2% |
| Vacancy Rate | 9.6% | 11.8% | 10.2% |
| Median Tenure (years) | 12.0 | 16.0 | 15.0 |
| Median Year Moved In | 2014 | 2010 | 2011 |
Pontiac has a homeownership rate of 42.3%, lower than the Michigan average of 64.6%. Its housing vacancy rate is 9.6%, compared with 11.8% in Michigan.
Housing Stock
| Metric | Pontiac | Michigan Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.37 people | 2.42 people | 2.53 people |
| Median Structure Built Year | 1962 | 1972 | 1978 |
| Median Number of Rooms | 5.1 | 5.9 | 5.5 |
The typical housing unit in Pontiac was built around 1962. On average, 2.4 people live in a home with about 5.1 rooms, staying for about 12.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Pontiac, Michigan.
What is the median home price in Pontiac, Michigan?
The median home price in Pontiac, Michigan is $215,970, higher than the Michigan average of $138,713.
What is the average home price in Pontiac, Michigan?
The typical home price in Pontiac, Michigan, reported as the median sale price, is $215,970. 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 Pontiac, Michigan?
The median gross rent in Pontiac, Michigan is $1,064 per month, lower than the Michigan average of $1,129.
What was the median gross rent in Pontiac in 2020?
In 2020, the median gross rent in Pontiac, Michigan was $812 per month.
What is the price-to-rent ratio in Pontiac, Michigan?
The price-to-rent ratio in Pontiac, Michigan is about 16.9, meaning it would take roughly 16.9 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Pontiac.
Are home prices or rent rising faster in Pontiac, Michigan?
Both home prices and rent are rising in Pontiac, up about 35.7% and 4.4% a year respectively. Home prices are changing faster.
What is the homeownership rate in Pontiac, Michigan?
42.3% of households in Pontiac, Michigan own their home, lower than the Michigan average of 64.6%.
What is the vacancy rate in Pontiac, Michigan?
The housing vacancy rate in Pontiac, Michigan is 9.6%, lower than the Michigan average of 11.8%.
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