Sharon, MI housing market
Home prices around Sharon have risen about 47% over the past 5 years. No new homes were permitted in 2024.
Home values, sales, trends and how Sharon compares with the towns next door — updated as new data is published.
Home prices up 47% in 5 years
The federal house price index for the ZIP codes around Sharon rose 47% over the past 5 years, slower than across Michigan (52%). Last year prices rose 5.1%. Carrying the Census median home value forward with that index puts the typical Sharon home at roughly $579,000 today.
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| Year | Change that year | Since 2000 | Michigan since 2000 |
|---|---|---|---|
| 2025 | +5.1% | +77% | +97% |
| 2024 | +8.8% | +68% | +88% |
| 2023 | +4.8% | +55% | +76% |
| 2022 | +12% | +48% | +64% |
| 2021 | +9.3% | +31% | +45% |
| 2020 | +2.2% | +20% | +30% |
| 2019 | +3.7% | +18% | +26% |
| 2018 | +4.3% | +13% | +20% |
| 2017 | +5.7% | +8.8% | +12% |
| 2016 | +4.4% | +3% | +5.3% |
| 2015 | +7.2% | −1.4% | 0% |
| 2014 | +8.1% | −8% | −4.7% |
| 2013 | +6.3% | −15% | −12% |
| 2012 | +0.7% | −20% | −16% |
| 2011 | −4.4% | −20% | −16% |
| 2010 | −9% | −17% | −12% |
| 2009 | −8.8% | −8.6% | −5% |
| 2008 | −9.9% | +0.2% | +3.5% |
| 2007 | −3% | +11% | +11% |
| 2006 | −0.9% | +15% | +16% |
| 2005 | +2.7% | +16% | +18% |
| 2004 | +3.2% | +13% | +14% |
| 2003 | +2.3% | +9.2% | +10% |
| 2002 | +3% | +6.7% | +8.3% |
| 2001 | +3.6% | +3.6% | +5% |
| 2000 | — | — | — |
Federal Housing Finance Agency House Price Index (annual, developmental) for ZIP codes 48158, 49240, 48118, weighted by land area. It tracks repeat sales and appraisals of the same homes, so it shows how prices changed, not what homes cost. The estimated value scales the Census (ACS 2020-2024) median home value by that change.
No new homes permitted in 2024
No permits for new homes were issued in Sharon in 2024. The last year with any was 2023 (3 new homes).
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| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2024 | 0 | 0 | 0 | — |
| 2023 | 3 | 3 | 0 | $1 million |
Sharon's permit office didn't report to the Census in 2024, so the 2024 figures are Census estimates.
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey.
Sharon and its neighbors
| Town | Typical value | 1-yr change | 2-bed rent | New homes 2025 | Median income |
|---|---|---|---|---|---|
| Sharon | — | +5.1%† | $1,470 | — | $105,865 |
| Sylvan | — | +7.3%† | $1,900 | — | $102,656 |
| Freedom | — | +5.3%† | $1,750 | 8 | $112,969 |
| Manchester | $376K | +4.2% | $1,450 | 9 | $84,732 |
| Grass Lake | $347K | +4.2% | $1,440 | 21 | $95,692 |
| Norvell | — | +3.9%† | $1,450 | 10 | $99,107 |
† FHFA price index change, where Zillow has no home value for the town.
3.5 years of income
The typical Sharon home costs about 3.5 years of the town's median household income, about the same as across Michigan (3.7).
Home value ÷ ACS median household income.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024.
A two-bedroom rents for about $1,470
HUD's Fair Market Rent for a two-bedroom in Sharon is $1,470 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in Sharon pay a median of $1,653. A two-bedroom takes about 17% of the town's median household income.
Studio $1,220 · 4 bedrooms $1,980
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (48118, 48158, 49240; Ann Arbor, MI MSA), weighted by land area. A Fair Market Rent is the 40th-percentile rent plus utilities for a standard unit. Median rent: U.S. Census Bureau, American Community Survey.
Home values: Zillow Home Value Index (ZHVI), Zillow Research. Sales, days on market and supply: Redfin Data Center. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits Survey. Price trend: Federal Housing Finance Agency House Price Index. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers.