Ypsilanti, MI—48197
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Ypsilanti, MI
Home Price Trends — Ypsilanti, MI
As of Oct '25, the median home price in Ypsilanti, MI is $335,000, with a year-over-year change of 1.0%. This indicates that home prices in Ypsilanti, MI are flat. According to Zillow, the 1-year price projection is -0.1%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $335,000 | 1.0% |
| Single Family | $345,000 | 0.9% |
| Condos | $264,000 | 3.1% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $239,000 | 3.0% |
3 Bed | $326,000 | 2.2% |
4 Bed | $406,000 | 1.8% |
| 5 Bed | $413,000 | 1.0% |
% of Housing Stock
Rental Trends — Ypsilanti, MI
As of July '25, Rentcast reports the average rent in Ypsilanti, MI is $1,610, with a year-over-year rent change of 11.8%. Per bedroom, the median rent as of July '25 in Ypsilanti, MI is studios: $761, 1-bedrooms: $1,020, 2-bedrooms: $1,390, 3-bedrooms: $1,950, 4-bedrooms: $2,740. The most common rental property sizes in Ypsilanti, MI are 2-bedroom and 1-bedroom, accounting for 42.2% and 36.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,360 | $1,610 |
| Studio Rent | $800 | $761 |
| 1 Bed Rent | $1,000 | $1,020 |
| 2 Bed Rent | $1,300 | $1,390 |
| 3 Bed Rent | $1,900 | $1,950 |
| 4 Bed Rent | $2,800 | $2,740 |
% of Rental Stock
Property Listings — Ypsilanti, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Ypsilanti, MI is 38. This is a decrease of -8.0% 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 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 | $380,000 | 6.0% |
Listing Count | 135 | 31.0% |
| Listings as % of Homes | 0.2% | 31.0% |
Days on Market | 38 | -8.0% |
Demographics — Ypsilanti, MI
As of the latest ACS Survey released in 2023, Ypsilanti, MI has a population of 65,900, which has decreased by -3.2% over the past 5 years. Ypsilanti, MI is a moderately popular place for families, as children make up 19.8% of the population. The area has a highly educated workforce, with 46.8% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 14.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 65,900 | -3.2% |
% Under 18 | 19.8% | 4.2% |
% Seniors | 11.4% | 22.6% |
% WFH | 14.4% | 364.5% |
% w/ College Degree | 46.8% | 10.6% |
As of the latest ACS Survey released in 2023, Ypsilanti, MI is a predominantly white area, with 56.6% of the population identifying as white. The white population has shrunk by 3.2% in the last 5 years. The second most common race or ethnicity in Ypsilanti, MI is black, making up 23.8% of the population. Foreign-born residents account for 12.2% of the population in Ypsilanti, MI, and this percentage has increased by 4.3% 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 | 56.6% | -3.2% |
% Black | 23.8% | -4.0% |
% Hispanic | 7.6% | 24.6% |
% Asian | 6.1% | 19.6% |
% Foreign Born | 12.2% | 4.3% |
Mortgage and Risk — Ypsilanti, MI
According to HUD data as of 2023, there were 860 mortgage originations in Ypsilanti, MI, of which 89.0% of loans were conventional mortgages. The average loan-to-value was 63.0%, with 25.0% above 90% LTV (very high). This implies large mortgage risk in Ypsilanti, MI. Investor activity is low, as 1.0% of loans were by investors. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 860 |
% Conventional Loans | 89.0% |
% Government Loans | 11.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — Ypsilanti, MI
As of 2024, the percent of homes in Ypsilanti, MI under the Section 8 program is 17.0%. This is considered high, suggesting that the neighborhood is heavily 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 Ypsilanti, MI, because HUD payments exceed market rent, while 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 2,125 |
Total Units Section 8 | 2,070 |
% Rentals under Section 8 | 17.0% |
% Occupied Section 8 | 89.8% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $180 | $1,000 | $1,180 |
| 2 Bedroom | $110 | $1,300 | $1,410 |
| 3 Bedroom | -$200 | $1,900 | $1,700 |
| 4 Bedroom | -$930 | $2,800 | $1,870 |
Affordability — Ypsilanti, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.3 |
| Median Home Price | $335,000 |
| Median Household Income | $70,900 |