HPI (2025)FHFA
197
State Series · Midwest Region
Home Price History in Michigan
FHFA all-transactions House Price Index for the state of Michigan — annual data, 1975 through 2025, rebased to 100 in the year 2000.
YoY changeFHFA
+4.7%
5-yr changeFHFA
+52%
Since 2000FHFA
+97%
Michigan's FHFA all-transactions House Price Index runs from 1975 through 2025. The state-level HPI, rebased to 100 in 2000, stood at 196.7 at the latest reading. Cumulative nominal appreciation since 2000: +96.7%.
The 2007–2011 housing crisis cut the Michigan HPI by 29.0% peak-to-trough — from 117.8 in 2005 to 83.6 in 2012. The U.S. national HPI fell roughly 21% over the same window, so Michigan's drawdown was more severe than the national average.
The pandemic-era surge brought Michigan's HPI from 125.7 in 2019 to 196.7 in 2025 — a +56.4% cumulative gain in 6 years, running above the national pace.
Michigan sits in the Midwest census region of the United States. Long-run state-level home-price appreciation reflects regional employment patterns, in-migration flows, and supply constraints. State-level FHFA series can mask significant intra-state divergence — see the linked metro pages below for sub-state breakdowns where available.
Metros in Michigan covered by The Housing Almanac:
- Detroit (national rank #14)
- Grand Rapids (national rank #52)
- Ann Arbor (national rank #97)
For the U.S. national context, see the national median price history or browse all 50 states.
Annual data — Michigan
FHFA House Price Index, 2000=100. Annual data; not seasonally adjusted. Source: U.S. Federal Housing Finance Agency.
| Year | HPI (2000=100) | YoY change |
|---|---|---|
| 2025 | 196.67 | +4.75% |
| 2024 | 187.76 | +6.64% |
| 2023 | 176.07 | +7.32% |
| 2022 | 164.06 | +13.35% |
| 2021 | 144.74 | +11.58% |
| 2020 | 129.72 | +3.18% |
| 2019 | 125.72 | +4.99% |
| 2018 | 119.75 | +6.49% |
| 2017 | 112.45 | +6.75% |
| 2016 | 105.34 | +5.34% |
| 2015 | 100.00 | +4.94% |
| 2014 | 95.29 | +8.00% |
| 2013 | 88.23 | +5.58% |
| 2012 | 83.57 | -0.61% |
| 2011 | 84.08 | -3.95% |
| 2010 | 87.54 | -7.90% |
| 2009 | 95.05 | -8.15% |
| 2008 | 103.48 | -6.93% |
| 2007 | 111.19 | -4.43% |
| 2006 | 116.35 | -1.20% |
| 2005 | 117.76 | +3.30% |
| 2004 | 114.00 | +3.24% |
| 2003 | 110.42 | +1.97% |
| 2002 | 108.29 | +3.10% |
| 2001 | 105.03 | +5.03% |
| 2000 | 100.00 | +8.17% |
| 1999 | 92.45 | +5.96% |
| 1998 | 87.25 | +4.87% |
| 1997 | 83.20 | +7.93% |
| 1996 | 77.09 | +6.68% |
| 1995 | 72.26 | +8.06% |
| 1994 | 66.87 | +4.53% |
| 1993 | 63.97 | +1.83% |
| 1992 | 62.82 | +2.35% |
| 1991 | 61.38 | +3.28% |
| 1990 | 59.43 | +4.91% |
| 1989 | 56.65 | +6.85% |
| 1988 | 53.02 | +8.74% |
| 1987 | 48.76 | +8.94% |
| 1986 | 44.76 | +7.49% |
| 1985 | 41.64 | +4.20% |
| 1984 | 39.96 | +0.88% |
| 1983 | 39.61 | +5.35% |
| 1982 | 37.60 | -12.56% |
| 1981 | 43.00 | +3.81% |
| 1980 | 41.42 | +6.21% |
| 1979 | 39.00 | +18.87% |
| 1978 | 32.81 | +16.31% |
| 1977 | 28.21 | +9.51% |
| 1976 | 25.76 | +3.33% |
| 1975 | 24.93 | — |
Methodology
The FHFA House Price Index is a weighted, repeat-sales index that measures average price changes in repeat sales or refinancings on the same single-family properties. The all-transactions index incorporates both purchase mortgages and refinance appraisals; the index is calibrated to the Midwest census region and rebased to 100 in the year 2000.