The typical U.S. home value was $367,965 in July, with a 0.2% annual increase. Michigan's priciest cities include Lake Angelus ($1.74M), Leland ($1.15M), and Orchard Lake ($932K). Detroit-Warren-Dearborn leads with 11 cities in the top 30. High mortgage rates (6.58%) and rising prices impact affordability. Home values vary by location, size, age, and condition, with some cities seeing over 70% growth in five years.