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Ann Arbor

Learn about the people, housing, costs and businesses in Ann Arbor

Median Home$400,198
Median Rent$1,612/month
Population369,822
Leading IndustriesPublic Administration · Arts, Food & Hospitality · Healthcare37% public administration
Home Value Growth⬆⬆+15.1% over 2 years
Young Adults38% of residentstop 5% nationally
Homeowners62% of occupied units
NotableHighly Educated28% bachelor's · 20% graduate · top 6% nationally
NotableHigh Incomes$98k/year · top 15% nationally
Ann Arbor

Frequently Asked Questions

What are today's mortgage rates in Ann Arbor?

Mortgage rates for Ann Arbor are updated daily on Safe Rate using live investor pricing. Rates depend on your credit score, loan type (Conventional, FHA, VA, Jumbo), and down payment. A 30-year fixed rate is the most common product for home purchases.

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What is the median home price in Ann Arbor?

The median home value in Ann Arbor is $400k. The median monthly rent is $1,612. Annual property taxes average $6k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Ann Arbor?

Home values in Ann Arbor have increased 15.1% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Ann Arbor?

Based on a typical all-in ownership cost of $1,644/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $70k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Ann Arbor is $98k/year.

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What industries drive the economy in Ann Arbor?

The largest employment sectors in Ann Arbor are public administration (37%) and retail (13%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.