Taylor, Michigan Housing Market Prices
Taylor 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 5% above the Michigan median$145,138
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Median rent 3% below the Michigan median$1,100
Housing Market Overview
| Metric | Taylor | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $145,138 | $138,713 | $248,835 |
| Price Trend (Annual %) | 19.5% | 8.6% | 7.5% |
| Median Gross Rent | $1,100 | $1,129 | $1,407 |
| Rent Trend (Annual %) | 3.6% | 4.5% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Taylor is about 5% higher than in Michigan. Rent is about 3% 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 Taylor, up about 19.5% and 3.6% a year respectively. Home prices are changing faster.
Median rent in Taylor rose about 38.9% between 2015 and 2024, from $792 to $1,100. Over the same span, rent in Michigan rose about 44.2%.
Affordability
On average, housing unit costs 2.4 yearly household incomes in Taylor.
Buying the median-priced home in Taylor costs roughly 11.0 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 Taylor. The price-to-rent ratio in Michigan is about 10.2.
| Metric | Taylor | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $145,138 | $138,713 | $248,835 |
| Median Household Income | $61,201 | $72,977 | $80,455 |
| Price-to-Income Ratio | 2.4 | 1.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Taylor rose about 259.3%, while median household income rose about 21.3% 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 | Taylor | Michigan Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 63.4% | 64.6% | 58.5% |
| Rental Rate | 31.7% | 23.6% | 31.2% |
| Vacancy Rate | 4.9% | 11.8% | 10.2% |
| Median Tenure (years) | 15.0 | 16.0 | 15.0 |
| Median Year Moved In | 2011 | 2010 | 2011 |
Taylor has a homeownership rate of 63.4%, lower than the Michigan average of 64.6%. Its housing vacancy rate is 4.9%, compared with 11.8% in Michigan.
Housing Stock
| Metric | Taylor | Michigan Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.43 people | 2.42 people | 2.53 people |
| Median Structure Built Year | 1964 | 1972 | 1978 |
| Median Number of Rooms | 5.3 | 5.9 | 5.5 |
The typical housing unit in Taylor was built around 1964. On average, 2.4 people live in a home with about 5.3 rooms, staying for about 15.0 years on average.
Taylor, MI Housing Compared With Nearby Cities
Taylor, MI is the largest of the 4 cities compared here, 62,081 residents against a local median of 27,928. Where Taylor, MI breaks from the cities next to it is median home price, sitting 23% above the local median of $118,327 at $145,138.
The cities themselves spread $47,411 on median home price, so Taylor, MI sits at one end of an already wide local range rather than apart from it. Taylor, MI has the highest median home price of the 4 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Taylor, MI | 62,081 | $145,138 #1/4 | $1,100 #4/4 | 66.7% #3/4 |
| Allen Park, MI | 27,928 | $144,722 | $1,245 | 87.3% |
| Inkster, MI | 25,428 | $97,311 | $1,169 | 46.8% |
| Dearborn Heights, MI | 61,726 | $118,327 | $1,331 | 70.5% |
Frequently Asked Questions
Common questions about the housing market in Taylor, Michigan.
What is the median home price in Taylor, Michigan?
The median home price in Taylor, Michigan is $145,138, higher than the Michigan average of $138,713.
What is the average home price in Taylor, Michigan?
The typical home price in Taylor, Michigan, reported as the median sale price, is $145,138. 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 Taylor, Michigan?
The median gross rent in Taylor, Michigan is $1,100 per month, lower than the Michigan average of $1,129.
What was the median gross rent in Taylor in 2020?
In 2020, the median gross rent in Taylor, Michigan was $877 per month.
What is the price-to-rent ratio in Taylor, Michigan?
The price-to-rent ratio in Taylor, Michigan is about 11.0, meaning it would take roughly 11.0 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 Taylor.
Are home prices or rent rising faster in Taylor, Michigan?
Both home prices and rent are rising in Taylor, up about 19.5% and 3.6% a year respectively. Home prices are changing faster.
What is the homeownership rate in Taylor, Michigan?
63.4% of households in Taylor, Michigan own their home, lower than the Michigan average of 64.6%.
What is the vacancy rate in Taylor, Michigan?
The housing vacancy rate in Taylor, Michigan is 4.9%, lower than the Michigan average of 11.8%.
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