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There are currently 41,865 real estate properties in Ann Arbor, MI, with a median automated valuation model (AVM) price of $481,489.00. 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 $546,344.00, 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 $43,956.00. 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.
Ann Arbor is located in Washtenaw, Michigan, with an estimated municipal population of 119,980 residents. All of the best foreclosed homes for sale in Ann Arbor are located in the following zip code areas on Foreclosure.com: 48103 48104 48105 48108 48109 48113. The estimated population per square kilometer (.62 miles) in Ann Arbor is 1,659.
So, about how much do homes cost in Ann Arbor? The most recent median value of resident-owned homes in Ann Arbor is 323,542. An estimated 45.2 percent of households in Ann Arbor own their homes, with an average family size of 2.82. The median household income in Ann Arbor is 65,745, with34.1 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Ann Arbor, the median commute time of resident workers (in minutes) is 20. And last, but certainly not least, are you looking for homes to rent in Ann Arbor? If so, the average rent price paid by renters in Ann Arbor is 1,237, according to recent statistics.
Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to Ann Arbor, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.
The median age of residents in Ann Arbor is 27.5, split between 49.8 percent male versus 50.2 female. The percentage of residents who report being married in Ann Arbor is 33.8, with an average family size of 2.82.
The percentage of residents who report their race in Ann Arbor is as follows:
|Black / African American
|American Indian / Alaskan Native
|Native Hawaiian / Other Pacifc Islander
Looking for family-friendly neighborhoods in and/or near Ann Arbor? Or maybe you are searching for 55+ active adult communities in and/or near Ann Arbor?
The percentage of residents who report their age in Ann Arbor is as follows:
It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in Ann Arbor with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Ann Arbor.
How do you know that living in -- or moving to -- Ann Arbor is right where you need to be? Perhaps you grew up in Ann Arbor or already live nearby; therefore, the decision to buy a home in Ann Arbor is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Ann Arbor for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.
Here are some questions to ask yourself when shopping for foreclosed homes for sale in Ann Arbor:
In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Ann Arbor.
Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Ann Arbor can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Ann Arbor, meanwhile, can field multiple offers from more qualified buyers.
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