Wyandotte, Michigan Housing Market Prices
Wyandotte 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 90% above the Michigan median$264,062
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Median rent 14% below the Michigan median$971
Housing Market Overview
| Metric | Wyandotte | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $264,062 | $138,713 | $248,835 |
| Price Trend (Annual %) | 24.2% | 8.6% | 7.5% |
| Median Gross Rent | $971 | $1,129 | $1,407 |
| Rent Trend (Annual %) | 3.4% | 4.5% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Wyandotte is about 90% higher than in Michigan. Rent is about 14% 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 Wyandotte, up about 24.2% and 3.4% a year respectively. Home prices are changing faster.
Median rent in Wyandotte rose about 33.6% between 2015 and 2024, from $727 to $971. Over the same span, rent in Michigan rose about 44.2%.
Affordability
On average, housing unit costs 3.7 yearly household incomes in Wyandotte.
Buying the median-priced home in Wyandotte costs roughly 22.7 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Wyandotte. The price-to-rent ratio in Michigan is about 10.2.
| Metric | Wyandotte | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $264,062 | $138,713 | $248,835 |
| Median Household Income | $71,275 | $72,977 | $80,455 |
| Price-to-Income Ratio | 3.7 | 1.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Wyandotte rose about 255.6%, while median household income rose about 25.8% 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 | Wyandotte | Michigan Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 68.9% | 64.6% | 58.5% |
| Rental Rate | 24.7% | 23.6% | 31.2% |
| Vacancy Rate | 6.4% | 11.8% | 10.2% |
| Median Tenure (years) | 14.0 | 16.0 | 15.0 |
| Median Year Moved In | 2012 | 2010 | 2011 |
Wyandotte has a homeownership rate of 68.9%, higher than the Michigan average of 64.6%. Its housing vacancy rate is 6.4%, compared with 11.8% in Michigan.
Housing Stock
| Metric | Wyandotte | Michigan Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.28 people | 2.42 people | 2.53 people |
| Median Structure Built Year | 1948 | 1972 | 1978 |
| Median Number of Rooms | 5.6 | 5.9 | 5.5 |
The typical housing unit in Wyandotte was built around 1948. On average, 2.3 people live in a home with about 5.6 rooms, staying for about 14.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Wyandotte, Michigan.
What is the median home price in Wyandotte, Michigan?
The median home price in Wyandotte, Michigan is $264,062, higher than the Michigan average of $138,713.
What is the average home price in Wyandotte, Michigan?
The typical home price in Wyandotte, Michigan, reported as the median sale price, is $264,062. 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 Wyandotte, Michigan?
The median gross rent in Wyandotte, Michigan is $971 per month, lower than the Michigan average of $1,129.
What was the median gross rent in Wyandotte in 2020?
In 2020, the median gross rent in Wyandotte, Michigan was $776 per month.
What is the price-to-rent ratio in Wyandotte, Michigan?
The price-to-rent ratio in Wyandotte, Michigan is about 22.7, meaning it would take roughly 22.7 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Wyandotte.
Are home prices or rent rising faster in Wyandotte, Michigan?
Both home prices and rent are rising in Wyandotte, up about 24.2% and 3.4% a year respectively. Home prices are changing faster.
What is the homeownership rate in Wyandotte, Michigan?
68.9% of households in Wyandotte, Michigan own their home, higher than the Michigan average of 64.6%.
What is the vacancy rate in Wyandotte, Michigan?
The housing vacancy rate in Wyandotte, Michigan is 6.4%, lower than the Michigan average of 11.8%.
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