Garden City, MI—48135
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Garden City, MI
As of Oct '25, the median home price in Garden City, MI is $199,000, with a year-over-year change of 2.7%. This indicates that home prices in Garden City, MI are increasing. According to Zillow, the 1-year price projection is 1.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $199,000 | 2.7% |
| Single Family | $200,000 | 3.1% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $163,000 | 3.2% |
3 Bed | $210,000 | 2.9% |
4 Bed | $236,000 | 2.6% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Garden City, MI
As of July '25, Rentcast reports the average rent in Garden City, MI is $1,400, with a year-over-year rent change of -12.5%. Per bedroom, the median rent as of July '25 in Garden City, MI is studios: $950, 1-bedrooms: $1,000, 2-bedrooms: $1,350, 3-bedrooms: $1,660, 4-bedrooms: $1,890. The most common rental property sizes in Garden City, MI are 3-bedroom and 1-bedroom, accounting for 39.3% and 27.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,400 | $1,400 |
| Studio Rent | $950 | $950 |
| 1 Bed Rent | $1,000 | $1,000 |
| 2 Bed Rent | $1,240 | $1,350 |
| 3 Bed Rent | $1,700 | $1,660 |
| 4 Bed Rent | $1,700 | $1,890 |
% of Rental Stock
Property Listings — Garden City, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Garden City, MI is 37. This is a increase of 32.0% 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 31.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $222,000 | 9.0% |
Listing Count | 85 | 14.0% |
| Listings as % of Homes | 0.4% | 14.0% |
Days on Market | 37 | 32.0% |
Demographics — Garden City, MI
As of the latest ACS Survey released in 2023, Garden City, MI has a population of 26,900, which has remained stable by 0.4% over the past 5 years. Garden City, MI is a moderately popular place for families, as children make up 20.5% of the population. The area has a poorly educated workforce, with 14.6% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 26,900 | 0.4% |
% Under 18 | 20.5% | 1.5% |
% Seniors | 16.1% | 6.6% |
% WFH | 7.8% | 188.9% |
% w/ College Degree | 14.6% | 28.1% |
As of the latest ACS Survey released in 2023, Garden City, MI is a predominantly white area, with 82.1% of the population identifying as white. The white population has shrunk by 8.5% in the last 5 years. The second most common race or ethnicity in Garden City, MI is black, making up 6.7% of the population. Foreign-born residents account for 3.9% of the population in Garden City, MI, and this percentage has decreased by 23.5% 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 | 82.1% | -8.5% |
% Black | 6.7% | 157.7% |
% Hispanic | 5.4% | 38.5% |
% Asian | 0.9% | -18.2% |
% Foreign Born | 3.9% | -23.5% |
Mortgage and Risk — Garden City, MI
According to HUD data as of 2023, there were 557 mortgage originations in Garden City, MI, of which 72.0% of loans were conventional mortgages. The average loan-to-value was 71.0%, with 42.0% above 90% LTV (very high). This implies large mortgage risk in Garden City, MI. Investor activity is low, as 1.0% of loans were by investors. 16.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 557 |
% Conventional Loans | 72.0% |
% Government Loans | 28.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 16.0% |
Loan Activity
Rentals and Section 8 — Garden City, MI
As of 2024, the percent of homes in Garden City, MI under the Section 8 program is 11.0%. 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 and 2-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Garden City, MI, because HUD payments exceed market rent, while 3-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 253 |
Total Units Section 8 | 249 |
% Rentals under Section 8 | 11.0% |
% Occupied Section 8 | 92.8% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $50 | $1,000 | $1,050 |
| 2 Bedroom | $90 | $1,240 | $1,330 |
| 3 Bedroom | -$70 | $1,700 | $1,630 |
| 4 Bedroom | $60 | $1,700 | $1,760 |
Affordability — Garden City, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.7 |
| Median Home Price | $199,000 |
| Median Household Income | $64,400 |