Warren, Michigan Housing Market Prices
Warren 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 9% above the Michigan median$150,587
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Median rent 8% above the Michigan median$1,225
Housing Market Overview
| Metric | Warren | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $150,587 | $138,713 | $248,835 |
| Price Trend (Annual %) | 18.8% | 8.6% | 7.5% |
| Median Gross Rent | $1,225 | $1,129 | $1,407 |
| Rent Trend (Annual %) | 4.5% | 4.5% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Warren is about 9% higher than in Michigan. Rent is about 8% 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 Warren, up about 18.8% and 4.5% a year respectively. Home prices are changing faster.
Median rent in Warren rose about 45.4% between 2015 and 2024, from $842 to $1,225. Over the same span, rent in Michigan rose about 44.2%.
Affordability
On average, housing unit costs 2.4 yearly household incomes in Warren.
Buying the median-priced home in Warren costs roughly 10.2 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 Warren. The price-to-rent ratio in Michigan is about 10.2.
| Metric | Warren | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $150,587 | $138,713 | $248,835 |
| Median Household Income | $63,316 | $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 Warren rose about 233.6%, while median household income rose about 28.9% 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 | Warren | Michigan Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 67.2% | 64.6% | 58.5% |
| Rental Rate | 27.3% | 23.6% | 31.2% |
| Vacancy Rate | 5.5% | 11.8% | 10.2% |
| Median Tenure (years) | 14.0 | 16.0 | 15.0 |
| Median Year Moved In | 2012 | 2010 | 2011 |
Warren has a homeownership rate of 67.2%, higher than the Michigan average of 64.6%. Its housing vacancy rate is 5.5%, compared with 11.8% in Michigan.
Housing Stock
| Metric | Warren | Michigan Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.50 people | 2.42 people | 2.53 people |
| Median Structure Built Year | 1966 | 1972 | 1978 |
| Median Number of Rooms | 5.5 | 5.9 | 5.5 |
The typical housing unit in Warren was built around 1966. On average, 2.5 people live in a home with about 5.5 rooms, staying for about 14.0 years on average.
Warren, MI Housing Compared With Nearby Cities
Warren, MI is the largest of the 4 cities compared here, 137,927 residents against a local median of 33,982. Warren, MI sits close to the middle of its own neighbourhood. No measure below is more than 15% off the local median, so the choice between these cities turns on things this data does not capture.
The largest of those small differences is median rent, 5% below the local median at $1,225 against $1,292. Warren, MI has the 3rd highest median rent of the 4 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Warren, MI | 137,927 | $150,587 #3/4 | $1,225 #3/4 | 71.1% #2/4 |
| Madison Heights, MI | 28,434 | $145,331 | $1,175 | 64.8% |
| Eastpointe, MI | 33,982 | $155,743 | $1,325 | 70.3% |
| Sterling Heights, MI | 133,426 | $277,720 | $1,292 | 75.8% |
Frequently Asked Questions
Common questions about the housing market in Warren, Michigan.
What is the median home price in Warren, Michigan?
The median home price in Warren, Michigan is $150,587, higher than the Michigan average of $138,713.
What is the average home price in Warren, Michigan?
The typical home price in Warren, Michigan, reported as the median sale price, is $150,587. 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 Warren, Michigan?
The median gross rent in Warren, Michigan is $1,225 per month, higher than the Michigan average of $1,129.
What was the median gross rent in Warren in 2020?
In 2020, the median gross rent in Warren, Michigan was $961 per month.
What is the price-to-rent ratio in Warren, Michigan?
The price-to-rent ratio in Warren, Michigan is about 10.2, meaning it would take roughly 10.2 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 Warren.
Are home prices or rent rising faster in Warren, Michigan?
Both home prices and rent are rising in Warren, up about 18.8% and 4.5% a year respectively. Home prices are changing faster.
What is the homeownership rate in Warren, Michigan?
67.2% of households in Warren, Michigan own their home, higher than the Michigan average of 64.6%.
What is the vacancy rate in Warren, Michigan?
The housing vacancy rate in Warren, Michigan is 5.5%, lower than the Michigan average of 11.8%.
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