Ypsilanti, Michigan Housing Market Prices
Ypsilanti 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$264,047
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Median rent 3% below the Michigan median$1,099
Housing Market Overview
| Metric | Ypsilanti | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $264,047 | $138,713 | $248,835 |
| Price Trend (Annual %) | 4.4% | 8.6% | 7.5% |
| Median Gross Rent | $1,099 | $1,129 | $1,407 |
| Rent Trend (Annual %) | 4.4% | 4.5% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Ypsilanti is about 90% 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 Ypsilanti, up about 4.4% and 4.4% a year respectively. Rent is changing faster.
Median rent in Ypsilanti rose about 45.5% between 2015 and 2024, from $755 to $1,099. Over the same span, rent in Michigan rose about 44.2%.
Affordability
On average, housing unit costs 5.8 yearly household incomes in Ypsilanti.
Buying the median-priced home in Ypsilanti costs roughly 20.0 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 Ypsilanti. The price-to-rent ratio in Michigan is about 10.2.
| Metric | Ypsilanti | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $264,047 | $138,713 | $248,835 |
| Median Household Income | $45,713 | $72,977 | $80,455 |
| Price-to-Income Ratio | 5.8 | 1.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Ypsilanti rose about 23.4%, while median household income rose about 29.3% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Ypsilanti | Michigan Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 30.5% | 64.6% | 58.5% |
| Rental Rate | 62.3% | 23.6% | 31.2% |
| Vacancy Rate | 7.2% | 11.8% | 10.2% |
| Median Tenure (years) | 7.0 | 16.0 | 15.0 |
| Median Year Moved In | 2019 | 2010 | 2011 |
Ypsilanti has a homeownership rate of 30.5%, lower than the Michigan average of 64.6%. Its housing vacancy rate is 7.2%, compared with 11.8% in Michigan.
Housing Stock
| Metric | Ypsilanti | Michigan Avg | US Average |
|---|---|---|---|
| Average Household Size | 1.99 people | 2.42 people | 2.53 people |
| Median Structure Built Year | 1952 | 1972 | 1978 |
| Median Number of Rooms | 4.4 | 5.9 | 5.5 |
The typical housing unit in Ypsilanti was built around 1952. On average, 2.0 people live in a home with about 4.4 rooms, staying for about 7.0 years on average.
Ypsilanti, MI Housing Compared With Nearby Cities
How Ypsilanti, MI compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Ypsilanti, MI | 20,682 | $264,047 #2/2 | $1,099 #2/2 | 32.8% #2/2 |
| Ann Arbor, MI | 120,009 | $470,403 | $1,647 | 45.1% |
Frequently Asked Questions
Common questions about the housing market in Ypsilanti, Michigan.
What is the median home price in Ypsilanti, Michigan?
The median home price in Ypsilanti, Michigan is $264,047, higher than the Michigan average of $138,713.
What is the average home price in Ypsilanti, Michigan?
The typical home price in Ypsilanti, Michigan, reported as the median sale price, is $264,047. 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 Ypsilanti, Michigan?
The median gross rent in Ypsilanti, Michigan is $1,099 per month, lower than the Michigan average of $1,129.
What was the median gross rent in Ypsilanti in 2020?
In 2020, the median gross rent in Ypsilanti, Michigan was $883 per month.
What is the price-to-rent ratio in Ypsilanti, Michigan?
The price-to-rent ratio in Ypsilanti, Michigan is about 20.0, meaning it would take roughly 20.0 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 Ypsilanti.
Are home prices or rent rising faster in Ypsilanti, Michigan?
Both home prices and rent are rising in Ypsilanti, up about 4.4% and 4.4% a year respectively. Rent is changing faster.
What is the homeownership rate in Ypsilanti, Michigan?
30.5% of households in Ypsilanti, Michigan own their home, lower than the Michigan average of 64.6%.
What is the vacancy rate in Ypsilanti, Michigan?
The housing vacancy rate in Ypsilanti, Michigan is 7.2%, lower than the Michigan average of 11.8%.
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