Detroit Real Estate Market 2026: A Score of 90 at $235,000

Detroit scores a 90 out of 100 on the PropertyIQ index as of February 28, 2026.

The median listing price is $235,000 as of February 2026. That is the lowest entry price of any major metro in this report posting a score above 85.

Here is what is driving the score.

Undervalued With Incomes That Support Buying

The market is slightly undervalued. Detroit is 3.2% below fundamental value as of February 2026. The income needed to buy at current prices is approximately $62,462. The median household income is $75,123 (2023 Census). That gap -- median income above income needed to buy -- is uncommon in 2026.

A household at the Detroit median can qualify to purchase at the Detroit median price. In most major metros, those two numbers do not align.

Inventory Growth Is Being Absorbed

There are 7,945 homes for sale as of February 2026, up 20.61% year over year. Inventory growth is a headwind. But 4,467 of those listings are pending -- a pending-to-active ratio of 0.5623. For every 100 homes listed, 56 are going under contract. Homes average 56 days on market. The sale-to-list ratio is 99.75% as of November 2025.

Prices Fell Modestly -- With a Positive Forecast

Home values are down 2.04% year over year as of February 2026. That is a real headwind. But Zillow forecasts 2.5% near-term appreciation as of December 2025. The year-over-year decline reflects 2025 softness; the forecast reflects current supply-demand dynamics.

The Rental Picture

Average rent is approximately $1,457/month as of December 2025. The Zillow median home value is approximately $257,542 as of January 2026. Monthly gross rent-to-price ratio: roughly 0.57%. This is a cash flow market, not an appreciation play.

The Caveats

Detroit's unemployment rate is 4.7% as of December 2025 -- above the national average. The five-year home value appreciation is -6% as of February 2026. A score of 90 reflects the current supply-demand balance; it does not erase the structural questions about the local economy.

These are the numbers to weigh. The score tells you supply is tight relative to demand. The other data tells you the risks.

PropertyIQ score as of February 28, 2026. Listing and inventory data as of February 1, 2026. Rent, forecast, and economic data as of December 2025. Census data 2023. All data for informational purposes only.