Market Overview
Home Prices in Silverwood, MI
The median home value in Silverwood, MI is $78,408 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's down 1.6% compared to a year ago and down 16.3% from two years prior.
Compared to the U.S. national median of $410,000, homes in Silverwood are priced81% below average. Silverwood is part of the Detroit-Warren-Dearborn, MI metro area.
Over the past five years, Silverwood home values have fallen by approximately58.4%, reflecting softening conditions in this market.
Price History
Silverwood Home Price Trend
City Comparison
Silverwood vs. National Median
At $78,408, homes in Silverwood cost 81% below the national median of $410,000. This makes Silverwood a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Silverwood?
20% Down Payment
$15,682
on $78,408
Monthly P&I
$409/mo
30-yr @ 6.8%
Total Monthly Est.
~$519/mo
incl. taxes & insurance
Income Needed
$20,760
gross annual (30% rule)
10% Down Option
$7,841
+ PMI applies
Loan Amount (20% dn)
$62,726
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 Silverwood, MI?
The median home value in Silverwood is $78,408 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's down 1.6% year-over-year.
How much have home prices changed in Silverwood?
Over the past year, home values in Silverwood have decreased by 1.6%. Over five years, prices have fallen approximately 58.4%.
How much do I need to earn to buy a home in Silverwood?
To comfortably afford the median home price of $78,408 with a 20% down payment ($15,682) at today's rates (6.8%), you'd need a gross annual income of approximately $20,760. This assumes keeping total housing costs at or below 30% of gross income.
How does Silverwood compare to the national average home price?
The national median home value is approximately $410,000. At $78,408, homes in Silverwood are 81% below the national average.
What metro area is Silverwood part of?
Silverwood is part of the Detroit-Warren-Dearborn, MI metropolitan area. Home prices and market conditions can vary across the broader metro region.