Wayne County, Michigan Housing Market Prices
Wayne County 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.
-
Median home price 59% below the Michigan median Cheaper than 93% of counties in Michigan$56,306
-
Median rent About the same as the Michigan median More expensive than 90% of counties in Michigan$1,132
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Wayne County | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $56,306 | $138,713 | $248,835 |
| Price Trend (Annual %) | 13.5% | 8.6% | 7.5% |
| Median Gross Rent | $1,132 | $1,129 | $1,407 |
| Rent Trend (Annual %) | 4.3% | 4.5% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Wayne County is about 59% lower than in Michigan. Rent follows a similar pattern, running close to 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 Wayne County, up about 13.5% and 4.3% a year respectively. Home prices are changing faster.
Median rent in Wayne County rose about 42.7% between 2015 and 2024, from $793 to $1,132. Over the same span, rent in Michigan rose about 44.2%.
Affordability
On average, housing unit costs 0.9 yearly household incomes in Wayne County.
Buying the median-priced home in Wayne County costs roughly 4.1 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 Wayne County. The price-to-rent ratio in Michigan is about 10.2.
| Metric | Wayne County | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $56,306 | $138,713 | $248,835 |
| Median Household Income | $60,677 | $72,977 | $80,455 |
| Price-to-Income Ratio | 0.9 | 1.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Wayne County rose about 140.4%, while median household income rose about 39.1% 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 | Wayne County | Michigan Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 56.6% | 64.6% | 58.5% |
| Rental Rate | 30.8% | 23.6% | 31.2% |
| Vacancy Rate | 12.5% | 11.8% | 10.2% |
| Median Tenure (years) | 16.0 | 16.0 | 15.0 |
| Median Year Moved In | 2010 | 2010 | 2011 |
Wayne County has a homeownership rate of 56.6%, lower than the Michigan average of 64.6%. Its housing vacancy rate is 12.5%, compared with 11.8% in Michigan.
Housing Stock
| Metric | Wayne County | Michigan Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.50 people | 2.42 people | 2.53 people |
| Median Structure Built Year | 1962 | 1972 | 1978 |
| Median Number of Rooms | 5.8 | 5.9 | 5.5 |
The typical housing unit in Wayne County was built around 1962. On average, 2.5 people live in a home with about 5.8 rooms, staying for about 16.0 years on average.
Wayne County, MI Housing Compared With Nearby Counties
Wayne County, MI is the largest of the 6 counties compared here, 1,771,784 residents against a local median of 427,836. Wayne County, MI's median home price, at $56,306, runs 72% below the $201,923 typical of the counties around it.
The counties themselves spread $239,567 on median home price, so Wayne County, MI sits at one end of an already wide local range rather than apart from it. Wayne County, MI has the 6th highest median home price of the 6 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Wayne County, MI | 1,771,784 | $56,306 #6/6 | $1,132 #4/6 | 64.7% #4/6 |
| Oakland County, MI | 1,277,811 | $259,162 | $1,375 | 72.7% |
| Monroe County, MI | 155,488 | $194,999 | $1,059 | 81.7% |
| Macomb County, MI | 879,566 | $201,923 | $1,210 | 75.0% |
| Washtenaw County, MI | 369,612 | $354,959 | $1,463 | 61.6% |
| Lucas County, OH | 427,836 | $115,392 | $934 | 62.0% |
Frequently Asked Questions
Common questions about the housing market in Wayne County, Michigan.
What is the median home price in Wayne County, Michigan?
The median home price in Wayne County, Michigan is $56,306, lower than the Michigan average of $138,713.
What is the average home price in Wayne County, Michigan?
The typical home price in Wayne County, Michigan, reported as the median sale price, is $56,306. 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 Wayne County, Michigan?
The median gross rent in Wayne County, Michigan is $1,132 per month, about the same as the Michigan average.
What was the median gross rent in Wayne County in 2020?
In 2020, the median gross rent in Wayne County, Michigan was $895 per month.
What is the price-to-rent ratio in Wayne County, Michigan?
The price-to-rent ratio in Wayne County, Michigan is about 4.1, meaning it would take roughly 4.1 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 Wayne County.
Are home prices or rent rising faster in Wayne County, Michigan?
Both home prices and rent are rising in Wayne County, up about 13.5% and 4.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in Wayne County, Michigan?
56.6% of households in Wayne County, Michigan own their home, lower than the Michigan average of 64.6%.
What is the vacancy rate in Wayne County, Michigan?
The housing vacancy rate in Wayne County, Michigan is 12.5%, higher than the Michigan average of 11.8%.
Analyze any area in the US
Get local demographics for any address, aggregated by drive time or radius, on the interactive map.
Explore the map →