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Check out the item prices in Ann Arbor compared to key cities in the US. University town that it is, over 50% of residential structures in Ann Arbor are rentals. Despite this statistic, there is still a shortage of rentals, and the cost remains quite high. With almost half of its residents comprising university folk, Ann Arbor continually scrambles to keep up with the demand. Ann Arbor is one of the most vibrant, dynamic cities in the Great Lakes area.
Michigan residents pay an annual premium of $2,111, which is about 35% more than the national average of $1,592. Ohio, New Hampshire, and South Carolina pay the lowest car insurance rates in the country. Here is a quick comparison of the states with the highest car insurance premiums. Michigan drivers pay one of the highest car insurance rates in the country.
Best Places To Raise A Family In Michigan
Currently, there are 511 homes listed in Ann Arbor which include 170 condos, 0 foreclosures. Get started by checking out the most popular home & the most saved home by Coldwell Banker homebuyers in the last 30 days. When you are ready to explore homes, read what Coldwell Banker agents have to say about Ann Arbor and discover homes for sale in Ann Arbor. Median House Price – This month’s median house price on Realtor, including single family houses, townhomes, and condos. The median house price is most representative of house prices in the entire metro area.
Zillow, Inc. holds real estate brokerage licenses in multiple states. Zillow , Inc. holds real estate brokerage licenses in multiple provinces. Market temperature is based on changes in renter demand compared to the national average. The median rent for all bedrooms and all property types in Ann Arbor, MI is $2,490. It’s a place to connect with a local agent, explore financing solutions, schedule home tours, understand your buying and selling power, and more. Zillow's metrics aim to inform and support the decision-making process with relevant market data by measuring monthly market changes across various geographies and housing types.
Ann Arbor SnackAbility
Homes in Ann Arbor receive 3 offers on average and sell in around 48 days. The average sale price of a home in Ann Arbor was $482K last month, up 16.2% since last year. The average sale price per square foot in Ann Arbor is $250, down 7.4% since last year. Median House Price Per Square Foot – This month’s median house price per square foot on Realtor, including single family houses, townhomes, and condos. The most representative measure of house price per square foot in the entire metro area. To help you stay current on the market, ZeroDown compiled a weekly real estate market report in Ann Arbor, MI metro area using data from Redfin.
Housing market information is provided by Altos Research, Inc. based on analysis of all active market properties for sale in the US in the preceding week. All analytics are copyright Altos Research and not affiliated with any MLS. Zillow Group is committed to ensuring digital accessibility for individuals with disabilities.
New Listings in Central Ann Arbor
The median home price in South Ann Arbor is $273,500, or $243/sqft. When you buy a home in South Ann Arbor, you can expect to pay between $203,675 to $358,500. These figures may differ depending on the location, type, and size of the property. The cost of living index is set to 100 for the average place in America.
Houses in Ann Arbor, MI rent between $800 - $8,848 with a median rent of $2,490. We created a seamless online experience for you - from shopping on the largest rental network, to applying, to paying rent. Click on the risks below to learn which exist in Central Ann Arbor today and how they’ll change by 2050.
This university town is the second most expensive city in Michigan, next only to East Lansing. Housing costs are one of the highest in the nation owing to high demand and zoning decisions made decades ago. Ann Arbor ranks sixth most expensive out of the 11 tech cities, and its housing affordability ratio is higher than the county-wide, state and national average. To gauge housing affordability, Ann Arbor Spark recommends dividing median home value by the median income. Using that ratio, the national average home value is 3.3 times the national median annual income.
An index above 100 means Ann Arbor is expensive, while a number below 100 means it's a relatively cheap place to live. Any use of search facilities of data on the site, other than by a consumer looking to purchase real estate, is prohibited. Ann Arbor is a Sellers Housing Market, which means prices tend to be higher and homes sell faster. Home of the University of Michigan WOLVERINES Among U.S. cities, Ann Arbor ranks first in the number of antiquarian booksellers and books sold per capita . The city hosted this competition in 2001 and 2002, and has sent a team each year across the U.S.
There are more restaurants per person in Ann Arbor than there are in any other city in the US. With over 400 restaurants packed in a mere 28.8 square miles, this is a definite foodie town. The international student body drawn in by Ann Arbor’s top universities translates to international flavors offered in the restaurant scene.
The interest rate on a 30-year fixed rate mortgage is hovering around 6%. According to the most recent data on the cost of living, Ann Arbor has an overall cost of living index of 113 which is 1.1x higher than the national index of 100. Data displayed may be a portion of, and not a complete set of all listings published in the MLS. Secure your position in the market with a mortgage from Rocket Mortgage®, our sister company. Ann Arbor was founded in 1824, named for wives of the village's founders and the stands of Bur Oak trees. The University of Michigan moved from Detroit to Ann Arbor in 1837, and the city grew at a rapid rate in the early to mid-20th century.
Flood risk data is provided by Risk Factor™, a product of the nonprofit First Street Foundation. Risk Factor™ is a peer reviewed scientific model, designed to approximate flood risk and not intended to include all possible risks of flood. Flood risk in Ann Arbor is increasing slower than the national average.
Get cash offers with HomeLight Simple Sale, the fastest way to sell your home. Estimates are not comparable to other geographic levels due to methodology differences that may exist between different data sources. QuickFacts provides statistics for all states and counties, and for cities and towns with a population of 5,000 or more.
There are signs this week, however, that the real estate market is shifting ever so slightly toward the buyer. May data shows home builders have started lowering prices for newly built homes as demand has cooled. Find out by comparing median home prices in Ann Arbor over the past three years with our interactive graph, or get a weekly glance with the table view. View Ann Arbor median home price data from the past 6 months, 1 year, or 3 years by using the toggle buttons in the top-right corner of the graph. Rating at 117.5 on the cost of living index with a US average of 100, Ann Arbor is not a cheap place to live.
While efforts are made to verify the information provided, the information should not be assumed to be error free. Some information in the publication may have been provided by third parties and has not necessarily been verified by Guaranteed Rate, Inc. Fire risk estimates the risk of wildfires, based on the likelihood of burning in the future and the potential size and severity of a fire.
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