Canton, MI—48187
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Canton, MI
Home Price Trends — Canton, MI
As of Oct '25, the median home price in Canton, MI is $385,000, with a year-over-year change of 3.7%. This indicates that home prices in Canton, 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 | $385,000 | 3.7% |
| Single Family | $394,000 | 3.7% |
| Condos | $329,000 | 3.8% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $257,000 | 2.0% |
3 Bed | $351,000 | 3.2% |
4 Bed | $490,000 | 4.5% |
| 5 Bed | $715,000 | 3.3% |
% of Housing Stock
Rental Trends — Canton, MI
As of July '25, Rentcast reports the average rent in Canton, MI is $2,250, with a year-over-year rent change of -0.4%. Per bedroom, the median rent as of July '25 in Canton, MI is studios: $1,920, 1-bedrooms: $1,310, 2-bedrooms: $1,740, 3-bedrooms: $2,440, 4-bedrooms: $3,350. The most common rental property sizes in Canton, MI are 2-bedroom and 1-bedroom, accounting for 56.0% and 24.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,100 | $2,250 |
| Studio Rent | $1,920 | $1,920 |
| 1 Bed Rent | $1,280 | $1,310 |
| 2 Bed Rent | $1,700 | $1,740 |
| 3 Bed Rent | $2,500 | $2,440 |
| 4 Bed Rent | $2,900 | $3,350 |
% of Rental Stock
Property Listings — Canton, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Canton, MI is 26. This is a decrease of -22.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 34.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $399,000 | -1.0% |
Listing Count | 119 | -4.0% |
| Listings as % of Homes | 0.2% | -4.0% |
Days on Market | 26 | -22.0% |
Demographics — Canton, MI
As of the latest ACS Survey released in 2023, Canton, MI has a population of 52,700, which has increased by 6.1% over the past 5 years. Canton, MI is a moderately popular place for families, as children make up 23.4% of the population. The area has a highly educated workforce, with 52.9% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 21.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 52,700 | 6.1% |
% Under 18 | 23.4% | -4.9% |
% Seniors | 16.5% | 13.8% |
% WFH | 21.4% | 422.0% |
% w/ College Degree | 52.9% | 7.5% |
As of the latest ACS Survey released in 2023, Canton, MI is a predominantly white area, with 64.6% 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 Canton, MI is asian, making up 16.7% of the population. Foreign-born residents account for 18.1% of the population in Canton, MI, and this percentage has increased by 4.6% 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 | 64.6% | -8.5% |
% Black | 9.1% | 11.0% |
% Hispanic | 5.7% | 128.0% |
% Asian | 16.7% | 11.3% |
% Foreign Born | 18.1% | 4.6% |
Mortgage and Risk — Canton, MI
According to HUD data as of 2023, there were 855 mortgage originations in Canton, MI, of which 94.0% of loans were conventional mortgages. The average loan-to-value was 57.0%, with 19.0% above 90% LTV (elevated). This implies medium mortgage risk in Canton, MI. Investor activity is low, as 1.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 855 |
% Conventional Loans | 94.0% |
% Government Loans | 6.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Canton, MI
As of 2024, the percent of homes in Canton, MI under the Section 8 program is 5.5%. 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. In Canton, MI, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 289 |
Total Units Section 8 | 289 |
% Rentals under Section 8 | 5.5% |
% Occupied Section 8 | 95.3% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$10 | $1,280 | $1,270 |
| 2 Bedroom | -$100 | $1,700 | $1,600 |
| 3 Bedroom | -$540 | $2,500 | $1,960 |
| 4 Bedroom | -$780 | $2,900 | $2,120 |
Affordability — Canton, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.9 |
| Median Home Price | $385,000 |
| Median Household Income | $118,000 |