According to statistics, the population in Ann Arbor, MI amounts to 119,303, which shows growth 1% compared to the previous year. The median age of the city’s residents is 28. The average household income is $61,247, shifting growth 6% from the past year, and the average property value in Ann Arbor, MI growth 9% to $271,600 throughout the year.
|Number Of Employees||61,445|
|Median Property Value||$271,600|
The average household income in Ann Arbor, MI grew from $57,697 to $61,247 in the past year. This data is an estimate based upon 47,524 households in Ann Arbor, MI . The chart below presents how household income is distributed in Ann Arbor, MI in comparison to the revenue allocation amid households nationally.
According to data from last year, the average property value in Ann Arbor, MI shifted from $250,200 to $271,600 throughout the year. The subsequent graph indicates the share of properties in the given price range in Ann Arbor, MI in comparison to the median property value in the same price segment across the country. According to the data, the greatest share of Ann Arbor, MI properties falls in the '$300,000 to $399,999' range, which is higher than the most significant median property across the country.
One of the most important aspects for property owners is the amount of property taxes. This graph shows distribution of property taxes in Ann Arbor, MI compared to median property taxes around the country. The prevalent amount of property taxes in Ann Arbor, MI equals $3000, which is less than the national average.
|Apartment Size||Jul||vs Last Month|
|Studio for sale||$264,500||-48.7%|
|1 bed for sale||$302,450||-8.6%|
|2 bed for sale||$336,147||-13.4%|
|3 bed for sale||$481,322||-6.5%|
|4+ bed for sale||$673,254||-22.9%|
During Jul 2022, the average price for an apartment in/near Ann Arbor, MI decreased by 14.1% to $518,565.
After collecting all data points, we now see that the average price for 1-bed apartment decreased by 8.6% to $302,450. Asking price for 2-bed apartment also decreased by 13.4% and a place of this size will now cost you $336,147. A 3-bed apartment goes for $481,322, it decreased by 6.5% lately. We discerned the rise of 4- and more bed apartment pricing. It decreased by 22.9% and made it down to $673,254.
|Listing Type||Jul||vs Last Month|
|Townhouses for sale||$367,450||N/A|
|Houses for sale||$561,186||-18.8%|
|Duplexes for sale||$525,000||-17%|
|Condos for sale||$423,587||-5.2%|
|Land for sale||$250,000||-44.4%|
Price reports demonstrate that house price decreased by 18.8% this month making it up to $561,186. Condos faced an upward trend these days. The median price for a condo decreased by 5.2%, it’s now available for $423,587. You can now purchase a duplex for just $525,000, duplex price decreased by 17% this month. Value of the townhouses didn’t change, the price still starts at $367,450.