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Woodhaven

Learn about the people, housing, costs and businesses in Woodhaven, Michigan

Median Home$229,367
Median Rent$1,113/month
Population12,690
Leading IndustriesRetail · Information & Media16% retail
Home Value Growth+10.4% over 2 years
Retirees25% of residentsabove average nationally
Homeowners74% of occupied units
Woodhaven
MI

Frequently Asked Questions

What are today's mortgage rates in Woodhaven?

As of today, the 30-year fixed mortgage rate for Woodhaven is approximately 7.026% (7.067% 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 Woodhaven?

The median home value in Woodhaven is $229k. The median monthly rent is $1,113. Annual property taxes average $4k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Woodhaven?

Home values in Woodhaven have increased 10.4% 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 Woodhaven?

Based on a typical all-in ownership cost of $1,154/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $49k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Woodhaven is $81k/year.

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What industries drive the economy in Woodhaven?

The largest employment sectors in Woodhaven are public administration (25%) and retail (16%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.