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Hazel Park

Learn about the people, housing, costs and businesses in Hazel Park, Michigan

Median Home$156,850
Median Rent$1,314/month
Population14,963
Leading IndustriesManufacturing · Transportation · Professional Services2% manufacturing
Home Value Growth⬆⬆+15.0% over 2 years
Young Adults29% of residentsslightly above average
Homeowners66% of occupied units
NotableAmenity Score74/100 · highly walkable area
Hazel Park
MI

Frequently Asked Questions

What are today's mortgage rates in Hazel Park?

As of today, the 30-year fixed mortgage rate for Hazel Park is approximately 6.941% (6.979% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Hazel Park?

The median home value in Hazel Park is $157k. The median monthly rent is $1,314. Annual property taxes average $2k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Hazel Park?

Home values in Hazel Park have increased 15.0% 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 Hazel Park?

Based on a typical all-in ownership cost of $1,033/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $44k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Hazel Park is $67k/year.

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What industries drive the economy in Hazel Park?

The largest employment sectors in Hazel Park are public administration (24%) and retail (11%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.