Harrison Township, MI—48045
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Harrison Township, MI
As of Oct '25, the median home price in Harrison Township, MI is $253,000, with a year-over-year change of 2.4%. This indicates that home prices in Harrison Township, MI are increasing. According to Zillow, the 1-year price projection is 0.9%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $253,000 | 2.4% |
| Single Family | $296,000 | 4.6% |
| Condos | $159,000 | 6.0% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $243,000 | 6.1% |
2 Bed | $189,000 | 3.8% |
3 Bed | $333,000 | 4.7% |
4 Bed | $467,000 | 5.9% |
| 5 Bed | $510,000 | 4.5% |
% of Housing Stock
Rental Trends — Harrison Township, MI
As of July '25, Rentcast reports the average rent in Harrison Township, MI is $1,790, with a year-over-year rent change of -8.7%. Per bedroom, the median rent as of July '25 in Harrison Township, MI is studios: $899, 1-bedrooms: $985, 2-bedrooms: $1,710, 3-bedrooms: $2,620, 4-bedrooms: $3,350. The most common rental property sizes in Harrison Township, MI are 1-bedroom and 2-bedroom, accounting for 45.5% and 36.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,500 | $1,790 |
| Studio Rent | $899 | $899 |
| 1 Bed Rent | $955 | $985 |
| 2 Bed Rent | $1,700 | $1,710 |
| 3 Bed Rent | $2,650 | $2,620 |
| 4 Bed Rent | $3,250 | $3,350 |
% of Rental Stock
Property Listings — Harrison Township, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Harrison Township, MI is 43. This is a increase of 18.0% 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 33.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $452,000 | 21.0% |
Listing Count | 96 | 1.0% |
| Listings as % of Homes | 0.4% | 1.0% |
Days on Market | 43 | 18.0% |
Demographics — Harrison Township, MI
As of the latest ACS Survey released in 2023, Harrison Township, MI has a population of 24,100, which has decreased by -3.5% over the past 5 years. Harrison Township, MI is a moderately popular place for families, as children make up 17.6% of the population. The area has a moderately educated workforce, with 25.9% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 13.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 24,100 | -3.5% |
% Under 18 | 17.6% | 2.3% |
% Seniors | 19.2% | 15.0% |
% WFH | 13.4% | 436.0% |
% w/ College Degree | 25.9% | 6.1% |
As of the latest ACS Survey released in 2023, Harrison Township, MI is a predominantly white area, with 81.7% of the population identifying as white. The white population has shrunk by 4.1% in the last 5 years. The second most common race or ethnicity in Harrison Township, MI is black, making up 9.5% of the population. Foreign-born residents account for 4.3% of the population in Harrison Township, MI, and this percentage has increased by 53.6% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 81.7% | -4.1% |
% Black | 9.5% | 8.0% |
% Hispanic | 2.4% | -11.1% |
% Asian | 0.7% | -22.2% |
% Foreign Born | 4.3% | 53.6% |
Mortgage and Risk — Harrison Township, MI
According to HUD data as of 2023, there were 506 mortgage originations in Harrison Township, MI, of which 86.0% of loans were conventional mortgages. The average loan-to-value was 60.0%, with 27.0% above 90% LTV (very high). This implies large mortgage risk in Harrison Township, MI. Investor activity is low, as 1.0% of loans were by investors. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 506 |
% Conventional Loans | 86.0% |
% Government Loans | 14.0% |
% Investor Loans | 1.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — Harrison Township, MI
As of 2024, the percent of homes in Harrison Township, MI under the Section 8 program is 4.8%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom units appear to be good home sizes to consider for Section 8 housing in Harrison Township, MI, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 229 |
Total Units Section 8 | 153 |
% Rentals under Section 8 | 4.8% |
% Occupied Section 8 | 93.1% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $25 | $955 | $980 |
| 2 Bedroom | -$460 | $1,700 | $1,240 |
| 3 Bedroom | -$1,130 | $2,650 | $1,520 |
| 4 Bedroom | -$1,610 | $3,250 | $1,640 |
Affordability — Harrison Township, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3 |
| Median Home Price | $253,000 |
| Median Household Income | $77,800 |