Ypsilanti, MI—48198
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 $215,000, with a year-over-year change of 3.9%. This indicates that home prices in Ypsilanti, MI are increasing. According to Zillow, the 1-year price projection is -0.3%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $215,000 | 3.9% |
| Single Family | $218,000 | 3.8% |
| Condos | $193,000 | 2.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $189,000 | 2.7% |
3 Bed | $214,000 | 2.4% |
4 Bed | $337,000 | 0.6% |
| 5 Bed | $480,000 | -0.2% |
% of Housing Stock
Rental Trends — Ypsilanti, MI
As of July '25, Rentcast reports the average rent in Ypsilanti, MI is $1,480, with a year-over-year rent change of -6.3%. Per bedroom, the median rent as of July '25 in Ypsilanti, MI is studios: $916, 1-bedrooms: $1,060, 2-bedrooms: $1,380, 3-bedrooms: $1,970, 4-bedrooms: $2,220. The most common rental property sizes in Ypsilanti, MI are 2-bedroom and 3-bedroom, accounting for 39.0% and 25.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,350 | $1,480 |
| Studio Rent | $895 | $916 |
| 1 Bed Rent | $1,120 | $1,060 |
| 2 Bed Rent | $1,350 | $1,380 |
| 3 Bed Rent | $1,800 | $1,970 |
| 4 Bed Rent | $2,100 | $2,220 |
% 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 37. This is a increase of 11.0% 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 15.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $242,000 | 11.0% |
Listing Count | 121 | 12.0% |
| Listings as % of Homes | 0.4% | 12.0% |
Days on Market | 37 | 11.0% |
Demographics — Ypsilanti, MI
As of the latest ACS Survey released in 2023, Ypsilanti, MI has a population of 39,500, which has increased by 1.8% over the past 5 years. Ypsilanti, MI is a moderately popular place for families, as children make up 23.0% of the population. The area has a moderately educated workforce, with 34.5% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 13.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 39,500 | 1.8% |
% Under 18 | 23.0% | -6.9% |
% Seniors | 13.4% | 15.5% |
% WFH | 13.4% | 282.9% |
% w/ College Degree | 34.5% | 20.2% |
As of the latest ACS Survey released in 2023, Ypsilanti, MI is a predominantly white area, with 47.5% of the population identifying as white. The white population has shrunk by 7.4% in the last 5 years. The second most common race or ethnicity in Ypsilanti, MI is black, making up 32.2% of the population. Foreign-born residents account for 9.4% of the population in Ypsilanti, MI, and this percentage has increased by 74.1% 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 | 47.5% | -7.4% |
% Black | 32.2% | -10.6% |
% Hispanic | 8.4% | 44.8% |
% Asian | 2.4% | 33.3% |
% Foreign Born | 9.4% | 74.1% |
Mortgage and Risk — Ypsilanti, MI
According to HUD data as of 2023, there were 691 mortgage originations in Ypsilanti, MI, of which 87.0% of loans were conventional mortgages. The average loan-to-value was 67.0%, with 31.0% above 90% LTV (very high). This implies large mortgage risk in Ypsilanti, MI. Investor activity is low, as 3.0% 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 | 691 |
% Conventional Loans | 87.0% |
% Government Loans | 13.0% |
% Investor Loans | 3.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Ypsilanti, MI
As of 2024, the percent of homes in Ypsilanti, MI under the Section 8 program is 23.9%. 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. In Ypsilanti, 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 | 1,694 |
Total Units Section 8 | 1,695 |
% Rentals under Section 8 | 23.9% |
% Occupied Section 8 | 88.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $0 | $1,120 | $1,120 |
| 2 Bedroom | -$20 | $1,350 | $1,330 |
| 3 Bedroom | -$190 | $1,800 | $1,610 |
| 4 Bedroom | -$290 | $2,100 | $1,810 |
Affordability — Ypsilanti, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.9 |
| Median Home Price | $215,000 |
| Median Household Income | $63,700 |