Grosse Ile, MI—48138
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Grosse Ile, MI
As of Oct '25, the median home price in Grosse Ile, MI is $384,000, with a year-over-year change of 5.6%. This indicates that home prices in Grosse Ile, MI are increasing. According to Zillow, the 1-year price projection is 1.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $384,000 | 5.6% |
| Single Family | $413,000 | 5.6% |
| Condos | $218,000 | 4.8% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $192,000 | 3.2% |
3 Bed | $349,000 | 4.5% |
4 Bed | $488,000 | 5.2% |
| 5 Bed | $645,000 | 4.2% |
% of Housing Stock
Rental Trends — Grosse Ile, MI
As of July '25, Rentcast reports the average rent in Grosse Ile, MI is $2,070, with a year-over-year rent change of 64.3%. Per bedroom, the median rent as of July '25 in Grosse Ile, MI is 1-bedrooms: $1,080, 2-bedrooms: $1,460, 3-bedrooms: $2,050, 4-bedrooms: $8,500. The most common rental property sizes in Grosse Ile, MI are 2-bedroom and 3-bedroom, accounting for 40.2% and 30.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,500 | $2,070 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,140 | $1,080 |
| 2 Bed Rent | $1,500 | $1,460 |
| 3 Bed Rent | $2,100 | $2,050 |
| 4 Bed Rent | $8,500 | $8,500 |
% of Rental Stock
Property Listings — Grosse Ile, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Grosse Ile, MI is 43. This is a increase of 3.0% 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 28.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $445,000 | 0.0% |
Listing Count | 64 | 53.0% |
| Listings as % of Homes | 0.6% | 53.0% |
Days on Market | 43 | 3.0% |
Demographics — Grosse Ile, MI
As of the latest ACS Survey released in 2023, Grosse Ile, MI has a population of 10,600, which has increased by 4.2% over the past 5 years. Grosse Ile, MI is a moderately popular place for families, as children make up 19.2% of the population. The area has a highly educated workforce, with 48.3% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 15.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 10,600 | 4.2% |
% Under 18 | 19.2% | -3.0% |
% Seniors | 28.9% | 12.0% |
% WFH | 15.8% | 216.0% |
% w/ College Degree | 48.3% | 3.4% |
As of the latest ACS Survey released in 2023, Grosse Ile, MI is a predominantly white area, with 89.3% of the population identifying as white. The white population has shrunk by 4.9% in the last 5 years. The second most common race or ethnicity in Grosse Ile, MI is hispanic, making up 3.5% of the population. Foreign-born residents account for 5.3% of the population in Grosse Ile, MI, and this percentage has decreased by 23.2% 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 | 89.3% | -4.9% |
% Black | 2.8% | 115.4% |
% Hispanic | 3.5% | 52.2% |
% Asian | 1.6% | -20.0% |
% Foreign Born | 5.3% | -23.2% |
Mortgage and Risk — Grosse Ile, MI
According to HUD data as of 2023, there were 248 mortgage originations in Grosse Ile, MI, of which 90.0% of loans were conventional mortgages. The average loan-to-value was 58.0%, with 20.0% above 90% LTV (very high). This implies large mortgage risk in Grosse Ile, MI. Investor activity is low, as 0.0% 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 | 248 |
% Conventional Loans | 90.0% |
% Government Loans | 10.0% |
% Investor Loans | 0.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Grosse Ile, MI
As of 2024, the percent of homes in Grosse Ile, MI under the Section 8 program is 0.8%. 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 and 2-bedroom units appear to be good home sizes to consider for Section 8 housing in Grosse Ile, MI, because HUD payments exceed market rent, while 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 2 |
Total Units Section 8 | 2 |
% Rentals under Section 8 | 0.8% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $160 | $1,140 | $1,300 |
| 2 Bedroom | $140 | $1,500 | $1,640 |
| 3 Bedroom | -$90 | $2,100 | $2,010 |
| 4 Bedroom | -$6,330 | $8,500 | $2,170 |
Affordability — Grosse Ile, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.7 |
| Median Home Price | $384,000 |
| Median Household Income | $125,000 |