You’ll Find Michigan’s Most Expensive Homes in These Top 10 Cities
There's no doubt that the housing market in not only Michigan, but the entire country has been off the rails over the past few years. Prices have been high, and inventory low in many areas making house hunting a bit of a task at times.
Those Michiganders looking to change addresses have several factors to consider when buying a new home. From location, schools, to overall atmosphere, finding "the one" involves many factors, but the price usually takes the top spot.
If money were no object, several cities in Michigan offer a selection of the most expensive homes in the state. Recently Stacker compiled a list of the "Cities with the Most Expensive Homes in Michigan" to give future home buyers a little insight into the market.
According to Stacker, cities are ranked by the Zillow Home Values Index for all homes as of June 2022. Stacker indicated that home buyers will find the most expensive city on the list has a typical home value of $1,578,285 which is 566% higher than the state average of $236,980.
What Michigan City Has the Most Expensive Homes in the State?
After breaking down all the data and the city with the most expensive homes in Michigan is Lake Angelus. Located in Oakland County, the city also consistently ranks as the city in Michigan with the 5th highest per capita income.
So what allows Lake Angelus to secure the top spot? The numbers break down like this according to Stacker;
Typical home value: $1,578,285
- 1-year price change: +15.1%
- 5-year price change: +28.9%
- Metro area: Detroit-Warren-Dearborn
The full list of the Top Ten "Cities with the Most Expensive Homes in Michigan" looks like this;
- Lake Angelus: Typical Home Value $1,578,285
- Lakeside: Typical Home Value $911,959
- Orchard Lake; Typical Home Value: $906,128
- Harbert: Typical Home Value: $904,446
- Franklin: Typical Home Value: $820,602
- Grosse Pointe Shores: Typical Home Value: $766,799
- Union Pier: Typical Home Value: $723,368
- Leland: Typical Home Value: $714,181
- Birmingham: Typical Home Value: $663,738
- New Buffalo: Typical Home Value: $658,432
Stacker followed through with listing 30 cities with the priciest pads in Michigan and you can view the full list here.
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