Overall, housing market in Washtenaw County is basically healthy. Despite foreclosure and resulting – and troubling – tenure shifts in Ypsilanti Township, the countywide market has stabilized to where most homes in most jurisdictions have recovered at least 85% of their 2005 value. And, at the county level, the “housing ladder” is balanced, with a wide range of options for renters and buyers. Though more than 90% of renter households with annual incomes below $20,000 are cost burdened, the overall market is affordable. Value to income ratios throughout most of the county are between 2.67 (Ypsilanti Township) and 4.34 (Ann Arbor), making home ownership possible. Plus, renter household incomes to median rent ratios range from 2.4 to 3.4, meaning that all but the most challenged can find an affordable apartment in the county without a significant commute.

This is important as transportation is usually the second largest household expense for families, after housing costs. This impacts the housing market in Washtenaw County in many ways. In one regard, housing that is close to job centers can make land and housing more valuable. These location-based amenities are valued by the market, enabling households to reduce transportation costs through non-motorized trips, utilization of public transit, and shorter trip distances. In these areas, the same community characteristics that drive value upward result in a reduced transportation burden for the average household. Conversely, land is often cheaper further away from job and economic centers. On one hand this is appealing, as land cost is a significant determinant in housing development value and cost.