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Featured local agent — Wayne, MI
Sarah Mitchell
Compass Real Estate · Wayne, MI
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Wayne, MI Housing Market & Real Estate
Housing market overview · Updated monthly ·
$175,100median sale price
How is the Wayne, MI housing market right now?
The median home sale price in Wayne, MI is $175,100, down 7.8% year-over-year. Homes sell in an average of 50 days with 12 active listings. The market is currently a strong seller's market. (Source: Redfin monthly MLS data, as of May 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is Wayne a buyer's or seller's market?
Wayne, MI is currently a strong seller's market, based on 0.7 months of supply and homes selling in about 50 days. How we determine this →
Homes sold
17
Last 12 weeks
Days on market
50
Average pace
Active listings
12
0.7 months supply
Sale-to-list
100.4%
Above asking
What does the Wayne housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $175,100 |
| Median list price | $184,950 |
| Year-over-year price change | -7.8% |
| Average days on market | 50 days |
| Active inventory | 12 listings |
| Months of supply | 0.7 months |
| Sale-to-list price ratio | 100.4% |
| Median price per sq ft | $146/sq ft |
| Homes sold (latest month) | 17 |
| New listings (latest month) | 14 |
| Listings with a price cut | 25.0% |
| Market condition | Strong seller's market |
Source: Redfin · Updated monthly
How much do homes cost in Wayne by property type?
How the Wayne, MI market breaks down across single-family homes, condos, and townhouses.
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $175,000 | $146/sq ft | 15 | 42 days |
| Condo / Co-op | $218,950 | $139/sq ft | 2 | 161 days |
Source: Redfin · Updated monthly
The Wayne housing market is currently classified as a strong seller's market with a median sale price of $175,100. Prices have fallen 7.8% compared to last year, with homes spending an average of 50 days on market, indicating 0.7 months of inventory.With limited inventory, homes sell quickly and buyers should be prepared to act decisively and competitively to secure a property.The price-to-income ratio of 3.3x provides context for how home values compare to local earning capacity.
Homes for sale in Wayne
There are currently 12 homes listed for sale in Wayne, Michigan. The median listing price is $185K.
Active listings
12
Homes on market
Median list price
$185K
Avg. days on market
50
Days until sale
New this week
14
Newly listed
Who lives in Wayne?
Population
17,413
Median income
$54,467/yr
Median age
39.5 years
Owner-occupied
57.8%
College grads
15.5%
Avg commute
26.8 min
Source: U.S. Census Bureau ACS
What are homes worth in Wayne?
Zillow home value
$178,321
Zillow rent index
$1,281/mo
Price-to-rent ratio
11.6x
Price-to-income
3.3x
Source: Zillow Research
What is it like to live in Wayne?
Wayne is a community of approximately 17K residents with a median age of 39.5 years.The median household income is $54,467, which represents a working-class community with solid middle-income opportunities. 15.5% of residents hold a bachelor's degree or higher, showing a mixed educational demographic.
Homeownership rates are at 57.8%, showing a blend of owner and renter-occupied properties. The average commute time is 26.8 minutes, which makes this an excellent choice for those seeking short commutes to employment centers.Overall, Wayne offers a balanced lifestyle with accessible home values relative to local income levels.
Which public schools serve Wayne?
5 schools tracked · 3,109 students
The largest public schools serving Wayne, MI by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Wayne Memorial High School
Grades 8-12 · 1,379 students
Benjamin Franklin Middle School
Grades 6-8 · 625 students
RooseveltMcGrath Elem School
Grades K-6 · 430 students
TaftGalloway Elementary School
Grades K-5 · 420 students
WayneWestland Innovative Academy
Grades 9-12 · 255 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Wayne, MI?
Want a head-to-head view? Compare Wayne side-by-side with any other U.S. city using our market-comparison tool.
Is Wayne a good real estate investment market?
For investors evaluating Wayne, the price-to-rent ratio of 11.6x suggests potential rental yield opportunity, making the market attractive for income-focused investors. The market has softened 7.8% year-over-year, potentially creating entry opportunities for strategic buyers.Use our rent vs. buy calculator to analyze whether owning or renting makes more financial sense based on Wayne's current market conditions and your specific situation. Estimate your monthly payment with the mortgage calculator using Wayne's median home price.
Frequently asked questions
What is the average home price in Wayne?
The median home sale price in Wayne is $175,100, down 7.8% from last year.
How long do homes stay on market in Wayne?
Homes typically spend 50 days on market before going under contract.
What is the median income in Wayne?
The median household income is $54,467 per year.
Is Wayne a buyer's or seller's market?
With 0.7 months of supply, Wayne is currently a strong seller's market.
What is the Zillow home value estimate for Wayne?
The Zillow Home Value Index (ZHVI) for Wayne is $178,321, representing the typical home value in the area.
What is the median condo price in Wayne?
The median condo/co-op sale price in Wayne, MI is $218,950, compared to $175,000 for a single-family home, based on the latest Redfin data.
How much does a single-family home cost in Wayne?
The median single-family home price in Wayne, MI is $175,000 (about $146 per square foot).
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