Wayne County, Michigan Housing Market
In Wayne County, Michigan, the median home value is $178,500, with a median monthly rent of $1,132. This places Wayne County at #1660 nationally out of 3134 counties by median home value, and #41 within Michigan.
📈 Price Trend (2017 → 2024)
📊 Recent Market Momentum (FHFA HPI)
FHFA House Price Index — All-Transactions, Annual (2000 = 100) · Latest: 2025
📍 Economic Snapshot
Employment & Wages
- Avg weekly wage: $1,529
- Establishments: 37,549
- BLS QCEW, 2025
Housing Supply
- Single-family: 1,210
- Multi-family: 2,712
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 671,079 (avg $70,240)
- Outflow: 670,093 (avg $70,595)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 10 active ZIP codes in Wayne County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 48213 | 155.2 | -4.49% | 2025 |
| 2 | 48212 | 274.4 | +15.00% | 2025 |
| 3 | 48120 | 155.0 | — | 2025 |
| 4 | 48229 | 172.1 | +15.35% | 2025 |
| 5 | 48238 | 193.1 | +18.53% | 2025 |
| 6 | 48141 | 167.7 | +9.45% | 2025 |
| 7 | 48234 | 152.6 | +23.16% | 2025 |
| 8 | 48205 | 125.2 | +6.69% | 2025 |
| 9 | 48215 | 172.8 | -8.43% | 2025 |
| 10 | 48228 | 140.8 | +11.01% | 2025 |
Source: FHFA HPI for Five-Digit ZIP Codes (All-Transactions Index, 2000 = 100).
This product uses FHFA Data but is neither endorsed nor certified by FHFA.
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💰 Mortgage Guide → 🧾 Property Tax Data →How Wayne County Compares
| Metric | Wayne County | Michigan Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $178,500 | $197,292 | $227,706 |
| Median Gross Rent | $1,132 | $905 | $968 |
| Owner Occupancy Rate | 64.8% | 80.2% | 73.3% |
| Price/Rent Ratio | 13.1 | 17.9 | 18.7 |
Market Analysis
The median home value in Wayne County is 9.5% below the Michigan state average and 21.6% below the U.S. national average. The median rent of $1,132/month is 25.1% above the state average.
With a price-to-rent ratio of 13.1, buying a home in Wayne County is generally more favorable than renting for those planning to stay long-term. A ratio below 15 typically signals that purchasing is financially advantageous over a multi-year horizon.
Wayne County has an owner-occupancy rate of 64.8%, compared to 80.2% in Michigan and 73.3% nationally. This indicates a more renter-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Richmond County | Georgia | $178,500 | $1,141 |
| Pickett County | Tennessee | $178,500 | $564 |
| Adams County | Indiana | $178,400 | $833 |
| Clay County | Iowa | $178,600 | $811 |
| Johnson County | Tennessee | $178,600 | $674 |
Other Counties in Michigan
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| St. Joseph County | $178,300 | $849 | 76.1% |
| Mecosta County | $178,900 | $934 | 76.9% |
| Alger County | $176,200 | $714 | 86.3% |
| Hillsdale County | $176,100 | $832 | 82.0% |
| Manistee County | $182,200 | $842 | 85.8% |
Data Source: U.S. Census Bureau, American Community Survey (ACS) 2024 5-Year Estimates (2017–2024). Variables: B25077 (Median Home Value), B25064 (Median Gross Rent), B25003 (Tenure). Data collected on 2026-10-14. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).