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Home appreciation in Michigan
Michigan's FHFA HPI® all-transactions index changed +4.6% over the year to Q2 2026, versus +3.0% nationally, ranking 12th of 51 states and D.C. Below, compare its 20 3-digit ZIP regions and 17 metro areas.
- 1-year change
- +4.6%
- 5-year change
- +45.6%
- Since Q1 1995
- +228%
- State rank (1 year)
- 12th
U.S. +3.0%
19th of 51
U.S. +292%
of 51 states and D.C.
Michigan vs the U.S.
FHFA HPI® all-transactions index, rebased so Q1 1995 = 100, through Q2 2026
- Michigan: 328.0
- United States: 391.6
Michigan appreciation by time window
| Window | MI | U.S. | Gap vs U.S. |
|---|---|---|---|
| 1 year | +4.6% | +3.0% | +1.6 pts |
| 3 years | +18.0% | +12.9% | +5.1 pts |
| 5 years | +45.6% | +41.3% | +4.3 pts |
| 10 years | +104% | +93.3% | +10.2 pts |
| Since Q1 1995 | +228% | +292% | −63.5 pts |
3-digit ZIP regions in Michigan
Fastest-appreciating ZIP codes in Michigan →Sorted by one-year change. 18 of 20 regions beat the national one-year change of +3.0%. Place labels name the largest community in each region.
| # | 3-digit ZIP region | 1 year | 5 years | 10 years | Since Q1 1995 |
|---|---|---|---|---|---|
| 1 | 492 · Jackson, MI area | +7.3% | +47.4% | +108% | +224% |
| 2 | 491 · Niles, MI area | +7.3% | +51.6% | +105% | +273% |
| 3 | 498 · Marquette, MI area | +6.8% | +66.2% | +109% | +305% |
| 4 | 497 · Sault Ste. Marie, MI area | +6.2% | +70.5% | +139% | +297% |
| 5 | 486 · Saginaw, MI area | +5.6% | +55.0% | +112% | +198% |
| 6 | 499 · Houghton, MI area | +5.6% | +57.9% | +119% | +272% |
| 7 | 493 · Big Rapids, MI area | +5.3% | +51.1% | +119% | +275% |
| 8 | 482 · Detroit, MI area | +5.0% | +38.7% | +102% | +231% |
| 9 | 496 · Traverse City, MI area | +5.0% | +61.7% | +134% | +364% |
| 10 | 488 · East Lansing, MI area | +4.9% | +44.0% | +100% | +213% |
| 11 | 483 · Sterling Heights, MI area | +4.6% | +40.0% | +88.1% | +190% |
| 12 | 480 · Warren, MI area | +4.5% | +39.3% | +93.4% | +210% |
| 13 | 494 · Muskegon, MI area | +4.4% | +54.5% | +125% | +288% |
| 14 | 484 · Fenton, MI area | +4.2% | +42.0% | +101% | +199% |
| 15 | 487 · Bay City, MI area | +3.9% | +55.2% | +115% | +212% |
| 16 | 481 · Ann Arbor, MI area | +3.7% | +41.8% | +95.8% | +204% |
| 17 | 495 · Grand Rapids, MI area | +3.6% | +48.4% | +137% | +314% |
| 18 | 485 · Flint, MI area | +3.1% | +40.9% | +119% | +143% |
| 19 | 490 · Kalamazoo, MI area | +2.8% | +45.8% | +102% | +240% |
| 20 | 489 · Lansing, MI area | -2.3% | +33.6% | +93.3% | +165% |
Metro areas in Michigan
| Metro area | 1 year | 5 years | Since Q1 1995 |
|---|---|---|---|
| Battle Creek, MI | +8.9% | +48.7% | +223% |
| Niles, MI | +7.6% | +51.1% | +259% |
| South Bend-Mishawaka, IN-MI | +6.7% | +53.8% | +238% |
| Jackson, MI | +6.1% | +46.2% | +223% |
| Detroit-Dearborn-Livonia, MI (division) | +5.2% | +43.9% | +203% |
| Bay City, MI | +5.1% | +51.0% | +190% |
| Lansing-East Lansing, MI | +5.1% | +43.0% | +194% |
| Grand Rapids-Wyoming-Kentwood, MI | +4.5% | +49.8% | +291% |
| Warren-Troy-Farmington Hills, MI (division) | +4.4% | +39.6% | +204% |
| Saginaw, MI | +4.3% | +47.4% | +168% |
| Flint, MI | +3.8% | +40.7% | +179% |
| Midland, MI | +3.5% | +51.9% | +180% |
| Ann Arbor, MI | +3.4% | +40.3% | +240% |
| Traverse City, MI | +3.3% | +59.5% | +376% |
| Muskegon-Norton Shores, MI | +2.4% | +59.6% | +288% |
| Monroe, MI | +2.1% | +36.1% | +175% |
| Kalamazoo-Portage, MI | +0.7% | +41.5% | +216% |
Boom, bust, and recovery in Michigan
Michigan's index peaked in Q3 2005, fell 29.4% to its low in Q2 2011, and regained its peak in Q2 2018, about 12.8 years after the top. Today it sits +83.3% versus that 2000s peak. How every state and ZIP region fared
| Area | 2000s peak | Low point | Peak to low | Back to peak | Today vs peak |
|---|---|---|---|---|---|
| MI | Q3 2005 | Q2 2011 | -29.4% | Q2 2018 (12.8 yrs) | +83.3% |
| U.S. | Q1 2007 | Q2 2012 | -19.0% | Q4 2016 (9.8 yrs) | +89.3% |
Appreciation after inflation
Adjusting for consumer price inflation, Michigan's index has changed +48.1% in real terms since Q1 1995. Home prices vs inflation
| Window | Inflation (CPI-U) | MI after inflation | U.S. after inflation |
|---|---|---|---|
| 1 year | +3.9% | +0.7% | -0.8% |
| 3 years | +9.8% | +7.4% | +2.8% |
| 5 years | +24.0% | +17.4% | +13.9% |
| 10 years | +39.1% | +46.3% | +39.0% |
| Since Q1 1995 | +121% | +48.1% | +76.8% |
If you bought in Michigan in…
An example $300,000 purchase grown at the statewide index rate to Q2 2026. Local markets within the state vary widely.
| Bought in | Index change | $300,000 then, at the state rate |
|---|---|---|
| Q2 1995 | +222% | $965,288 |
| Q2 2000 | +128% | $684,681 |
| Q2 2005 | +84.8% | $554,495 |
| Q2 2010 | +149% | $745,665 |
| Q2 2015 | +114% | $642,277 |
| Q2 2020 | +63.8% | $491,292 |
| Q2 2021 | +45.6% | $436,775 |
| Q2 2023 | +18.0% | $353,927 |
| Q2 2025 | +4.6% | $313,799 |
Frequently asked questions
- How much have home prices gone up in Michigan?
- FHFA HPI® data for Michigan shows the all-transactions index changed +4.6% over the year to Q2 2026, +45.6% over five years, +104% over ten years, and +228% since Q1 1995.
- Is Michigan appreciating faster than the national average?
- Over the past year Michigan's index moved +1.6 pts versus the U.S. (+3.0%), ranking 12th of 51 states and D.C. Over five years the gap is +4.3 pts.
- Which ZIP codes in Michigan are appreciating fastest?
- Over the past year the strongest of 20 3-digit ZIP regions in Michigan was ZIP3 492 (Jackson, MI area) at +7.3%, and the weakest was ZIP3 489 (Lansing, MI area) at -2.3%. 18 of 20 beat the national one-year change.