Detroit's median home value has more than doubled in a decade

Detroit’s housing market has seen unprecedented growth over the past decade, with median home values more than doubling from $31,572 in 2016 to $75,358 in 2026, according to Zillow data analyzed by Construction Coverage. The city’s total home value has increased for 11 consecutive years, rising by $500 million from 2025 to 2026, with 267 of 286 neighborhoods showing gains, led by Buffalo/Charles and North Corktown. Experts attribute the surge to renewed investment in downtown areas and broader neighborhood stabilization, making Detroit more attractive to residents and investors. Jonathan Jones, a data journalist with Construction Coverage, noted that while prices were historically low a decade ago, the city’s affordability relative to other major U.S. cities has driven demand. Mayor Mike Sheffield’s office highlighted the growth as a sign of progress, with spokesperson John Roach stating it generates generational wealth for Detroit families. Despite the gains, challenges remain. Rising home values have pushed property taxes higher, though Sheffield has proposed cutting them by 30% or more, reducing the principal residence tax from $64.18 to $25–$45 per $1,000 of assessed value. WalletHub ranks Detroit as the second most affordable city for housing, easing concerns about accessibility. The city’s assessment data shows Wayne County home values grew by $3 billion in 2025, with suburban areas like Dearborn also seeing rapid increases. Real estate expert Jeanette Schneider of RE/MAX of Southeastern Michigan called the demand citywide, signaling stability across neighborhoods. However, affordability remains a concern, particularly for long-time residents facing higher maintenance costs and tax bills. Sheffield’s administration has tied the growth to broader efforts to rebuild public trust in property assessments and attract investment. While the market’s recovery is clear, balancing affordability with economic revitalization will be key to sustaining progress.