Fair Haven, MI—48023
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Fair Haven, MI
As of Oct '25, the median home price in Fair Haven, MI is $263,000, with a year-over-year change of -1.3%. This indicates that home prices in Fair Haven, MI are decreasing. According to Zillow, the 1-year price projection is 0.3%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $263,000 | -1.3% |
| Single Family | $263,000 | -2.2% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $240,000 | 0.8% |
3 Bed | $328,000 | -0.9% |
4 Bed | $415,000 | -0.7% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Fair Haven, MI
As of July '25, Rentcast reports the average rent in Fair Haven, MI is $1,770, with a year-over-year rent change of 22.1%. Per bedroom, the median rent as of July '25 in Fair Haven, MI is 2-bedrooms: $1,100, 3-bedrooms: $1,830. The most common rental property sizes in Fair Haven, MI are 3-bedroom and 1-bedroom, accounting for 29.1% and 26.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,660 | $1,770 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $950 | $1,100 |
| 3 Bed Rent | $1,660 | $1,830 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Fair Haven, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Fair Haven, MI is 44. This is a increase of 24.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 26.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $665,000 | 22.0% |
Listing Count | 23 | 44.0% |
| Listings as % of Homes | 0.4% | 44.0% |
Days on Market | 44 | 24.0% |
Demographics — Fair Haven, MI
As of the latest ACS Survey released in 2023, Fair Haven, MI has a population of 4,980, which has decreased by -2.7% over the past 5 years. Fair Haven, MI is a moderately popular place for families, as children make up 19.9% of the population. The area has a poorly educated workforce, with 21.9% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 4,980 | -2.7% |
% Under 18 | 19.9% | -8.3% |
% Seniors | 17.0% | 5.6% |
% WFH | 8.5% | 347.4% |
% w/ College Degree | 21.9% | 2.3% |
As of the latest ACS Survey released in 2023, Fair Haven, MI is a predominantly white area, with 91.3% of the population identifying as white. The white population has shrunk by 5.1% in the last 5 years. The second most common race or ethnicity in Fair Haven, MI is black, making up 3.4% of the population. Foreign-born residents account for 1.1% of the population in Fair Haven, MI, and this percentage has decreased by 21.4% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 91.3% | -5.1% |
% Black | 3.4% | 161.5% |
% Hispanic | 0.5% | -16.7% |
% Asian | 0.0% | -100.0% |
% Foreign Born | 1.1% | -21.4% |
Mortgage and Risk — Fair Haven, MI
According to HUD data as of 2023, there were 96 mortgage originations in Fair Haven, MI, of which 92.0% of loans were conventional mortgages. The average loan-to-value was 68.0%, with 29.0% above 90% LTV (very high). This implies large mortgage risk in Fair Haven, MI. Investor activity is low, as 2.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 96 |
% Conventional Loans | 92.0% |
% Government Loans | 8.0% |
% Investor Loans | 2.0% |
% Second Loans | 4.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Fair Haven, MI
Fair Haven, MI lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 2 |
Total Units Section 8 | 2 |
% Rentals under Section 8 | 0.6% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $1,130 |
| 2 Bedroom | $480 | $950 | $1,430 |
| 3 Bedroom | $90 | $1,660 | $1,750 |
| 4 Bedroom | N/A | N/A | $1,900 |
Affordability — Fair Haven, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.4 |
| Median Home Price | $263,000 |
| Median Household Income | $79,300 |