Market Overview
Home Prices in Hamtramck, MI
The median home value in Hamtramck, MI is $171,508 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's down 2.9% compared to a year ago and up 4% from two years prior.
Compared to the U.S. national median of $410,000, homes in Hamtramck are priced58% below average. Hamtramck is part of the Detroit-Warren-Dearborn, MI metro area.
Over the past five years, Hamtramck home values have risen by approximately22.5%, reflecting strong long-term appreciation in this market.
Price History
Hamtramck Home Price Trend
City Comparison
Hamtramck vs. National Median
At $171,508, homes in Hamtramck cost 58% below the national median of $410,000. This makes Hamtramck a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Hamtramck?
20% Down Payment
$34,302
on $171,508
Monthly P&I
$894/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,135/mo
incl. taxes & insurance
Income Needed
$45,400
gross annual (30% rule)
10% Down Option
$17,151
+ PMI applies
Loan Amount (20% dn)
$137,206
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 Hamtramck, MI?
The median home value in Hamtramck is $171,508 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's down 2.9% year-over-year.
How much have home prices changed in Hamtramck?
Over the past year, home values in Hamtramck have decreased by 2.9%. Over five years, prices have risen approximately 22.5%.
How much do I need to earn to buy a home in Hamtramck?
To comfortably afford the median home price of $171,508 with a 20% down payment ($34,302) at today's rates (6.8%), you'd need a gross annual income of approximately $45,400. This assumes keeping total housing costs at or below 30% of gross income.
How does Hamtramck compare to the national average home price?
The national median home value is approximately $410,000. At $171,508, homes in Hamtramck are 58% below the national average.
What metro area is Hamtramck part of?
Hamtramck is part of the Detroit-Warren-Dearborn, MI metropolitan area. Home prices and market conditions can vary across the broader metro region.