There are currently 41,866 real estate properties in Ann Arbor, MI, with a median automated valuation model (AVM) price of $504,987.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Ann Arbor, MI, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Ann Arbor, MI, is $567,348.00, with the most expensive house in Ann Arbor, MI, topping out at $20,000,000.00 and the cheapest home in Ann Arbor, MI, clocking in at $41,690.00. In other words, there’s something for every potential homebuyer or savvy investor in Ann Arbor, MI!
With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Ann Arbor, MI, is on a rollercoaster ride. The average rent price in Ann Arbor, MI, is $2,165.00. Indeed, when looking to rent in Ann Arbor, MI, you can expect to pay as little as $610.00 or as much as $5,280.00, with the average rent median estimated to be $2,080.00. The good news is that finding an affordable and desirable property to rent in Ann Arbor, MI -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.
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