Riverview, MI—48193
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Riverview, MI
As of Oct '25, the median home price in Riverview, MI is $240,000, with a year-over-year change of 4.8%. This indicates that home prices in Riverview, MI are increasing. According to Zillow, the 1-year price projection is 1.3%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $240,000 | 4.8% |
| Single Family | $249,000 | 5.1% |
| Condos | $212,000 | 5.5% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $199,000 | 5.3% |
3 Bed | $233,000 | 4.5% |
4 Bed | $335,000 | 4.0% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Riverview, MI
As of July '25, Rentcast reports the average rent in Riverview, MI is $1,280, with a year-over-year rent change of -14.1%. Per bedroom, the median rent as of July '25 in Riverview, MI is 1-bedrooms: $977, 2-bedrooms: $1,560, 3-bedrooms: $1,740, 4-bedrooms: $1,920. The most common rental property sizes in Riverview, MI are 2-bedroom and 1-bedroom, accounting for 45.0% and 22.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,080 | $1,280 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $975 | $977 |
| 2 Bed Rent | $1,150 | $1,560 |
| 3 Bed Rent | $1,740 | $1,740 |
| 4 Bed Rent | $1,920 | $1,920 |
% of Rental Stock
Property Listings — Riverview, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Riverview, MI is 28. This is a decrease of -11.0% 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 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 | $243,000 | -3.0% |
Listing Count | 39 | 3.0% |
| Listings as % of Homes | 0.2% | 3.0% |
Days on Market | 28 | -11.0% |
Demographics — Riverview, MI
As of the latest ACS Survey released in 2023, Riverview, MI has a population of 16,500, which has increased by 5.3% over the past 5 years. Riverview, MI is a moderately popular place for families, as children make up 24.0% of the population. The area has a moderately educated workforce, with 25.1% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 16,500 | 5.3% |
% Under 18 | 24.0% | 20.0% |
% Seniors | 20.5% | -7.7% |
% WFH | 10.8% | 350.0% |
% w/ College Degree | 25.1% | 44.3% |
As of the latest ACS Survey released in 2023, Riverview, MI is a predominantly white area, with 72.6% of the population identifying as white. The white population has shrunk by 11.6% in the last 5 years. The second most common race or ethnicity in Riverview, MI is black, making up 9.0% of the population. Foreign-born residents account for 8.2% of the population in Riverview, MI, and this percentage has increased by 10.8% 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 | 72.6% | -11.6% |
% Black | 9.0% | 9.8% |
% Hispanic | 8.0% | 116.2% |
% Asian | 5.3% | 12.8% |
% Foreign Born | 8.2% | 10.8% |
Mortgage and Risk — Riverview, MI
According to HUD data as of 2023, there were 278 mortgage originations in Riverview, MI, of which 77.0% of loans were conventional mortgages. The average loan-to-value was 69.0%, with 37.0% above 90% LTV (very high). This implies large mortgage risk in Riverview, 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 | 278 |
% Conventional Loans | 77.0% |
% Government Loans | 23.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 16.0% |
Loan Activity
Rentals and Section 8 — Riverview, MI
As of 2024, the percent of homes in Riverview, MI under the Section 8 program is 12.2%. 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 Riverview, MI, because HUD payments exceed market rent, while 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 265 |
Total Units Section 8 | 265 |
% Rentals under Section 8 | 12.2% |
% Occupied Section 8 | 95.7% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $15 | $975 | $990 |
| 2 Bedroom | $100 | $1,150 | $1,250 |
| 3 Bedroom | -$210 | $1,740 | $1,530 |
| 4 Bedroom | -$260 | $1,920 | $1,660 |
Affordability — Riverview, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.9 |
| Median Home Price | $240,000 |
| Median Household Income | $72,900 |