Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$175,631+0.8% YoY · prices are rising
Market right nowBalanced marketMore homes for sale than last year, 20% have cut their price
Income needed to buy, per year$38,073About 0.6× the local median income ($59,484): affordable for a typical household
Days on market50 daysSlower than a year ago: buyers have time to negotiate
Next 12 months+1.8%Zillow expects prices to rise slightly
The typical home in Wayne County, MI is worth $175,631, up 0.8% from a year ago. That is well above what local incomes have historically supported: fair value is about $141,500, so the area is 24.1% overvalued. It is a balanced market: homes take about 50 days to sell, listings are up 5% from a year ago, 20% of listings have had a price cut. Zillow expects prices to rise about 1.8% over the next year. A household needs about $38,073 a year to afford the typical home here at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $59,484. Typical rent is $1,402 a month, or $1,550 for a house. In the latest IRS figures, 8,614 more people moved out than in.
Home value over time
Solid: typical home value · dashed: fair value (household income × the 20-year average price-to-income ratio). Sources: FHFA, Zillow, U.S. Census Bureau.
Prices and affordability
Typical home value
$175,631
Change in 1 year
+0.8%
Overvalued %
+24.1%
Show 7 more
Fair home value
$141,500
Change in 5 years
+20.7%
Zillow forecast, next 12 months
+1.8%
Home value to income
3.0×
Monthly mortgage payment (20% down)
$952
Income needed to afford it
$38,073
Property tax rate
1.63%
Rent and investing
Typical rent
$1,402
Typical rent for houses
$1,550
Price-to-rent ratio
10.4×
Show 3 more
HUD Fair Market Rent, 2 bedrooms
$1,459
Gross rental yield
9.58%
Cap rate (estimate)
6.23%
Market activity
Listings vs a year ago
+5.0%
Days on market
50
Listings with a price cut
19.8%
Show 3 more
Homes for sale
5,148
Pending sales per 100 listings
41
Asking price per sq ft
$134
People and jobs
Median household income
$59,484
Population change (1 year)
+0.2%
Unemployment rate
8.7%
Show 4 more
Population
1,769,038
Income adjusted for cost of living
$59,306
Net moves in (IRS)
−8,614
Cost of living (US = 100)
100.3
Schools, risk and environment
School rating (1 to 10)
4.0
FEMA hazard risk score (0 to 100)
99.0
Unhealthy air days a year
11
Show 4 more
Flood risk score
99.4
Wildfire risk score
54.4
Walkability (1 to 20)
10.2
Road, rail and air noise
54 dB
Questions people ask
Is Wayne County, MI overvalued?
Home prices in Wayne County, MI are well above what local incomes have historically supported: fair value is about $141,500, so the area is 24.1% overvalued.
Is Wayne County, MI a buyer's or seller's market?
Wayne County, MI is a balanced market: homes take about 50 days to sell, listings are up 5% from a year ago, 20% of listings have had a price cut.
Are home prices going down in Wayne County, MI?
Home values in Wayne County, MI are up 0.8% over the last year. Zillow's forecast for the next 12 months is +1.8%.
How much do you need to earn to buy a home in Wayne County, MI?
A household needs about $38,073 a year to afford the typical home in Wayne County, MI at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $59,484.