Canton, MI—48188
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 $400,000, with a year-over-year change of 3.8%. This indicates that home prices in Canton, 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 | $400,000 | 3.8% |
| Single Family | $444,000 | 4.0% |
| Condos | $342,000 | 4.0% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $276,000 | 1.8% |
3 Bed | $375,000 | 3.0% |
4 Bed | $531,000 | 4.3% |
| 5 Bed | $671,000 | 3.5% |
% of Housing Stock
Rental Trends — Canton, MI
As of July '25, Rentcast reports the average rent in Canton, MI is $2,340, with a year-over-year rent change of 9.9%. Per bedroom, the median rent as of July '25 in Canton, MI is 1-bedrooms: $1,500, 2-bedrooms: $1,970, 3-bedrooms: $2,420, 4-bedrooms: $3,050. The most common rental property sizes in Canton, MI are 2-bedroom and 3-bedroom, accounting for 50.3% and 31.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,300 | $2,340 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,300 | $1,500 |
| 2 Bed Rent | $1,900 | $1,970 |
| 3 Bed Rent | $2,600 | $2,420 |
| 4 Bed Rent | $3,000 | $3,050 |
% 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 32. This is a increase of 22.0% 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 23.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $411,000 | -5.0% |
Listing Count | 148 | -2.0% |
| Listings as % of Homes | 0.3% | -2.0% |
Days on Market | 32 | 22.0% |
Demographics — Canton, MI
As of the latest ACS Survey released in 2023, Canton, MI has a population of 45,500, which has increased by 9.6% over the past 5 years. Canton, MI is a moderately popular place for families, as children make up 23.6% of the population. The area has a highly educated workforce, with 56.0% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 21.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 45,500 | 9.6% |
% Under 18 | 23.6% | -6.3% |
% Seniors | 14.7% | 18.5% |
% WFH | 21.3% | 363.0% |
% w/ College Degree | 56.0% | 5.3% |
As of the latest ACS Survey released in 2023, Canton, MI is a predominantly white area, with 58.2% of the population identifying as white. The white population has shrunk by 6.9% in the last 5 years. The second most common race or ethnicity in Canton, MI is asian, making up 23.3% of the population. Foreign-born residents account for 23.1% of the population in Canton, MI, and this percentage has increased by 15.5% 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 | 58.2% | -6.9% |
% Black | 11.1% | 5.7% |
% Hispanic | 3.1% | -16.2% |
% Asian | 23.3% | 14.2% |
% Foreign Born | 23.1% | 15.5% |
Mortgage and Risk — Canton, MI
According to HUD data as of 2023, there were 925 mortgage originations in Canton, MI, of which 91.0% of loans were conventional mortgages. The average loan-to-value was 61.0%, with 24.0% above 90% LTV (very high). This implies large mortgage risk in Canton, MI. Investor activity is low, as 1.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 925 |
% Conventional Loans | 91.0% |
% Government Loans | 9.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Canton, MI
As of 2024, the percent of homes in Canton, MI under the Section 8 program is 1.0%. 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 units appear to be good home sizes to consider for Section 8 housing in Canton, 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 | 32 |
Total Units Section 8 | 32 |
% Rentals under Section 8 | 1.0% |
% Occupied Section 8 | 90.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $190 | $1,300 | $1,490 |
| 2 Bedroom | -$20 | $1,900 | $1,880 |
| 3 Bedroom | -$300 | $2,600 | $2,300 |
| 4 Bedroom | -$510 | $3,000 | $2,490 |
Affordability — Canton, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3 |
| Median Home Price | $400,000 |
| Median Household Income | $118,000 |