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Wayne County, MI

RANK #474 / 996  ·  POP 1,781,641  ·  MI

PROJECTED GROWTH: +0.8%

Wayne County's economy is holding up, but population decline raises questions about long-term trajectory.

[01] Why Wayne County?

Wayne County, Michigan, is defined by its connection to the automotive industry, with Dearborn standing out as home to the Ford World Headquarters and the Henry Ford Museum. Located in southeastern Michigan, the county encompasses Detroit and numerous surrounding communities, bordering Oakland and Macomb counties to the north, Washtenaw to the west, and Monroe to the south. Commuting within the county and to neighboring areas is facilitated by major highways and the Suburban Mobility Authority for Regional Transportation (SMART) bus system. The county offers diverse outdoor recreation, including parks like Hines Park, which spans 17 miles, and Elizabeth Park along the Detroit River, providing opportunities for hiking, biking, fishing, and river watching.

Life in Wayne County varies across its communities, from the urban environment of Detroit to the suburban settings of towns like Northville and Grosse Pointe, known for their schools. The county's economy, historically tied to the automotive sector, is diversifying with growth in healthcare and technology. Recent economic developments include investments in advanced manufacturing and initiatives to support small businesses, particularly those with fewer than 50 employees, and minority or women-owned enterprises. The county has also seen infrastructure improvements, with spending on bridge repair and replacement in several communities.

[02] Market Snapshot

Housing Ratio
2.7x

Undervalued relative to economy

GDP Growth
+1.3%

Well below national median

Home Prices
+1.9%

Above national median

Climate & Terrain
-1.7

Below-average climate & terrain

Price/Rent
10x

Strong rental yield

Housing looks undervalued at 2.7x — home prices are low relative to local economic output. The typical U.S. county is 4–6x.

[03] Signal Profile

[04] Home Value Growth vs National

Wayne County U.S. National

The Numbers

DEMOGRAPHICS
Population
1,781,641
-0.45% YoY
Median Household Income
$57,223
Median Home Value
$158,600
+1.91% 12mo
Median Rent
$1,043
Average Annual Pay
$76,411
+3.3% YoY
Employment
725,504
+0.8% YoY
Income-to-Home-Value
0.3608
More affordable than average
Migration Inflow
1.95%
of pop. from another state

Market Activity

REAL ESTATE
Median Sale Price
$180,000
Days on Market
46
Moderate pace
Months of Supply
3.8
Balanced market
Sale-to-List Ratio
97.5%
Negotiation room for buyers
Sold Above List
31.0%
Listings w/ Price Drops
22.2%
Building Permits (2024)
2,629
Single-Family Permits
1,058

Source: Redfin · Census BPS — Browse sales on Redfin →

[05] Capital Investment

$4,498M
TOTAL
PROJECT AMOUNT STATUS
Wayne County Infrastructure Repair (Roads and Bridges)
Wayne County
$3,000M Planned
Project Cannoli (Google Data Center Campus)
Google (developer Panattoni)
$1,000M Proposed
Trenton Channel Energy Center (Battery Storage)
DTE Energy
$460M Under Construction
City of Detroit Solar Neighborhoods Initiative
City of Detroit / DTE Electric Company
$31M Planned
Norplas Industries (Magna Exteriors Highland Park) Expansion
Norplas Industries Inc. (dba Magna Exteriors Highland Park)
$7M Planned

Source: public records, news, corporate announcements. Amounts are estimates where noted.

[06] Score Breakdown

GDP Growth +1.3% 22 percentile
Population Growth -0.5% 12 percentile
Income Growth +8.3% 44 percentile
Vacancy Rate 1.2% 39 percentile
Home Price Change +1.9% 58 percentile
Rent Growth +2.8% 45 percentile
Price/Rent 10x 93 percentile

Bars show percentile rank among all 996 counties.

[07] Frequently Asked Questions

Is Wayne County, MI a good place to move to?

Wayne County has a Boom Town Index score of 52/100, ranking #474 among 996 U.S. counties. With job growth at +0.8% and a median household income of $57,223, it's an above-average county on economic indicators.

Is Wayne County affordable?

The median home value in Wayne County is $158,600 with median rent at $1,043/month. The income-to-home-value ratio is 0.3608, which is more affordable than the national average.

Is Wayne County growing or shrinking?

Population growth: -0.5% year-over-year. Job growth: +0.8%. Home values changed +1.9% in the past 12 months.

[08] Similar Metros

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