Flint, MI Federal Housing Finance Agency Home Price Index (FHFA HPI)

The Flint, MI, Federal Housing Finance Agency (FHFA) house price index (HPI) is a weighted, repeat-sales index that measures average price changes in repeat sales or refinancings on the same properties. The index covers single-family homes nationwide and offers a more timely measure of home price trends than other existing indices.

The FHFA HPI for Flint, MI was 199.1 in December 2020, up 2.2% from December 2019 and up 0.9% from November 2020. Home prices in Flint have been rising steadily over the past few years, although at a slower pace than many other parts of the country. The median home value in Flint is $61,200, which is much lower than the national median home value of $226,800. However, values have been increasing steadily since bottoming out at $57,000 in 2016.

There are several reasons why home prices in Flint have been rising despite the city's economic struggles. One reason is that there has been an influx of buyers from outside the city who are looking for cheaper homes than they can find in nearby areas such as Detroit or Grand Rapids. Another reason is that many people who own homes in Flint are staying put and making improvements instead of selling because they can't afford to move to a more expensive area. Finally, investors have been buying up properties in Flint as part of a bet that the city will eventually rebound economically.

Whatever the reasons for rising prices may be, it's clear that the trend is having an impact on residents' ability to afford a home in Flint. The median household income in Flint is just $29,827, which means that many families are struggling to keep up with rising costs. In addition to higher prices, property taxes and insurance rates have also been on the rise in recent years. As a result of all these factors, affordability has become a major concern for many residents of Flint