ANN ARBOR – Tree Town and one city in its surrounding area are among 50 cities in Michigan with the fastest-growing home prices.
Stacker recently released a list of cities that have seen housing prices skyrocket in the past year according to data collected from Zillow. Magnetic Lifter 100kg
Cities were ranked by the dollar change amount noted in Zillow’s Home Values Index between September 2021 and September 2022.
Stacker looked at home values from 790 cities and towns across the Mitten state and found that homes in the top city, Harbert, increased by $207,294 over the last year.
Homes in Ann Arbor were found to have a typical value of $482,100. Within one year, home values grew by 10.5 percent--around $45,836--and by 34.1 percent--around $122,592--in five years.
Tree Town was only No. 44 out of the top 50 cities, but Dexter, about 10 miles northeast of Ann Arbor, ranked at No. 41.
Home prices increased by 11.8 percent in one year and by 37 percent in five years--around $48,103 and $122,866 respectively. The typical home value in Dexter is $455,354, per Stacker.
Many of the top 50 cities with the fastest-growing home values are near the metro areas of Grand Rapids-Kentwood, Traverse City, Detroit-Warren-Dearborn, Niles, Holland, Adrian, and Ann Arbor.
Take a look at the full list of cities here.
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Sarah has worked for WDIV since June 2018. She covers community events, good eats and small businesses in Ann Arbor and has a Master's degree in Applied Linguistics from Grand Valley State University.
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