Market Overview
Home Prices in Ann Arbor, MI
The median home value in Ann Arbor, MI is $540,694 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 3% compared to a year ago and up 2.8% from two years prior.
Compared to the U.S. national median of $410,000, homes in Ann Arbor are priced32% above average. Ann Arbor is part of the Ann Arbor, MI metro area.
Over the past five years, Ann Arbor home values have risen by approximately23.6%, reflecting strong long-term appreciation in this market.
Price History
Ann Arbor Home Price Trend
City Comparison
Ann Arbor vs. National Median
At $540,694, homes in Ann Arbor cost 32% above the national median of $410,000. Buyers in Ann Arbor should expect to pay a premium compared to most U.S. markets.
Affordability
What Does It Cost to Buy in Ann Arbor?
20% Down Payment
$108,139
on $540,694
Monthly P&I
$2,820/mo
30-yr @ 6.8%
Total Monthly Est.
~$3,581/mo
incl. taxes & insurance
Income Needed
$143,240
gross annual (30% rule)
10% Down Option
$54,069
+ PMI applies
Loan Amount (20% dn)
$432,555
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Ann Arbor, MI?
The median home value in Ann Arbor is $540,694 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 3% year-over-year.
How much have home prices changed in Ann Arbor?
Over the past year, home values in Ann Arbor have increased by 3%. Over five years, prices have risen approximately 23.6%.
How much do I need to earn to buy a home in Ann Arbor?
To comfortably afford the median home price of $540,694 with a 20% down payment ($108,139) at today's rates (6.8%), you'd need a gross annual income of approximately $143,240. This assumes keeping total housing costs at or below 30% of gross income.
How does Ann Arbor compare to the national average home price?
The national median home value is approximately $410,000. At $540,694, homes in Ann Arbor are 32% above the national average.
What metro area is Ann Arbor part of?
Ann Arbor is part of the Ann Arbor, MI metropolitan area. Home prices and market conditions can vary across the broader metro region.