Real Estate

Ann Arbor, Mich.

Annual home price performance: Outperformed
Local home price change: –2%
State home price change: –3%
2007 local median home price: $220,000
2007 state median home price: $116,900

Ann Arbor is a college town in the southeast corner of Michigan known for liberal marijuana laws (many residents and students take part in the annual Hash Bash) and intense loyalty to Wolverines football.