There are currently 7,122 real estate properties in Grosse Pointe Farms, MI, with a median automated valuation model (AVM) price of $396,000.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Grosse Pointe Farms, MI, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Grosse Pointe Farms, MI, is $445,860.00, with the most expensive house in Grosse Pointe Farms, MI, topping out at $3,350,000.00 and the cheapest home in Grosse Pointe Farms, MI, clocking in at $11,400.00. In other words, there’s something for every potential homebuyer or savvy investor in Grosse Pointe Farms, MI!
With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Grosse Pointe Farms, MI, is on a rollercoaster ride. The average rent price in Grosse Pointe Farms, MI, is $2,011.00. Indeed, when looking to rent in Grosse Pointe Farms, MI, you can expect to pay as little as $650.00 or as much as $3,960.00, with the average rent median estimated to be $1,880.00. The good news is that finding an affordable and desirable property to rent in Grosse Pointe Farms, MI -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.
Find the best foreclosure homes listings for sale — bank-owned, government (Fannie Mae, Freddie Mac, HUD, etc.) and others — in and near the Grosse Pointe Farms, MI area at Foreclosure.com. Get information on foreclosure homes for rent, how to buy foreclosures in Grosse Pointe Farms, MI and much more. Save thousands at closing with home foreclosure listings in Grosse Pointe Farms, MI — up to 75% off market value!
Grosse Pointe Farms is located in Wayne, Michigan, with an estimated municipal population of 9,114 residents. All of the best foreclosed homes for sale in Grosse Pointe Farms are located in the following zip code areas on Foreclosure.com: 48236. The estimated population per square kilometer (.62 miles) in Grosse Pointe Farms is 1,287.
So, about how much do homes cost in Grosse Pointe Farms? The most recent median value of resident-owned homes in Grosse Pointe Farms is 357,888. An estimated 93.3 percent of households in Grosse Pointe Farms own their homes, with an average family size of 3.03. The median household income in Grosse Pointe Farms is 143,711, with66 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Grosse Pointe Farms, the median commute time of resident workers (in minutes) is 26.9. And last, but certainly not least, are you looking for homes to rent in Grosse Pointe Farms? If so, the average rent price paid by renters in Grosse Pointe Farms is 1,418, according to recent statistics.
Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to Grosse Pointe Farms, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.
The median age of residents in Grosse Pointe Farms is 44.7, split between 48.2 percent male versus 51.8 female. The percentage of residents who report being married in Grosse Pointe Farms is 70.1, with an average family size of 3.03.
The percentage of residents who report their race in Grosse Pointe Farms is as follows:
|Black / African American||1.8%|
|American Indian / Alaskan Native||0%|
|Native Hawaiian / Other Pacifc Islander||0%|
Looking for family-friendly neighborhoods in and/or near Grosse Pointe Farms? Or maybe you are searching for 55+ active adult communities in and/or near Grosse Pointe Farms?
The percentage of residents who report their age in Grosse Pointe Farms is as follows:
It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in Grosse Pointe Farms with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Grosse Pointe Farms.
How do you know that living in -- or moving to -- Grosse Pointe Farms is right where you need to be? Perhaps you grew up in Grosse Pointe Farms or already live nearby; therefore, the decision to buy a home in Grosse Pointe Farms is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Grosse Pointe Farms for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.
Here are some questions to ask yourself when shopping for foreclosed homes for sale in Grosse Pointe Farms:
In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Grosse Pointe Farms.
Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Grosse Pointe Farms can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Grosse Pointe Farms, meanwhile, can field multiple offers from more qualified buyers.