Market Overview
Home Prices in Bingham Farms, MI
The median home value in Bingham Farms, MI is $619,935 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 4% compared to a year ago and up 5.1% from two years prior.
Compared to the U.S. national median of $410,000, homes in Bingham Farms are priced51% above average. Bingham Farms is part of the Detroit-Warren-Dearborn, MI metro area.
Over the past five years, Bingham Farms home values have risen by approximately24.7%, reflecting strong long-term appreciation in this market.
Price History
Bingham Farms Home Price Trend
City Comparison
Bingham Farms vs. National Median
At $619,935, homes in Bingham Farms cost 51% above the national median of $410,000. Buyers in Bingham Farms should expect to pay a premium compared to most U.S. markets.
Affordability
What Does It Cost to Buy in Bingham Farms?
20% Down Payment
$123,987
on $619,935
Monthly P&I
$3,233/mo
30-yr @ 6.8%
Total Monthly Est.
~$4,106/mo
incl. taxes & insurance
Income Needed
$164,240
gross annual (30% rule)
10% Down Option
$61,994
+ PMI applies
Loan Amount (20% dn)
$495,948
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 Bingham Farms, MI?
The median home value in Bingham Farms is $619,935 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 4% year-over-year.
How much have home prices changed in Bingham Farms?
Over the past year, home values in Bingham Farms have increased by 4%. Over five years, prices have risen approximately 24.7%.
How much do I need to earn to buy a home in Bingham Farms?
To comfortably afford the median home price of $619,935 with a 20% down payment ($123,987) at today's rates (6.8%), you'd need a gross annual income of approximately $164,240. This assumes keeping total housing costs at or below 30% of gross income.
How does Bingham Farms compare to the national average home price?
The national median home value is approximately $410,000. At $619,935, homes in Bingham Farms are 51% above the national average.
What metro area is Bingham Farms part of?
Bingham Farms is part of the Detroit-Warren-Dearborn, MI metropolitan area. Home prices and market conditions can vary across the broader metro region.