Keego Harbor, MI—48320
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Keego Harbor, MI
As of Oct '25, the median home price in Keego Harbor, MI is $298,000, with a year-over-year change of 1.9%. This indicates that home prices in Keego Harbor, 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 | $298,000 | 1.9% |
| Single Family | $314,000 | 1.6% |
| Condos | $169,000 | 4.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $188,000 | 2.2% |
3 Bed | $329,000 | 1.2% |
4 Bed | $426,000 | 1.7% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Keego Harbor, MI
As of July '25, Rentcast reports the average rent in Keego Harbor, MI is $1,820, with a year-over-year rent change of -32.1%. Per bedroom, the median rent as of July '25 in Keego Harbor, MI is studios: $825, 1-bedrooms: $1,270, 2-bedrooms: $1,880, 3-bedrooms: $1,780, 4-bedrooms: $2,800. The most common rental property sizes in Keego Harbor, MI are 2-bedroom and 1-bedroom, accounting for 59.9% and 17.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,600 | $1,820 |
| Studio Rent | $825 | $825 |
| 1 Bed Rent | $1,250 | $1,270 |
| 2 Bed Rent | $1,600 | $1,880 |
| 3 Bed Rent | $1,750 | $1,780 |
| 4 Bed Rent | $2,100 | $2,800 |
% of Rental Stock
Property Listings — Keego Harbor, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Keego Harbor, MI is 37. This is a increase of 32.0% 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 46.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $462,000 | -12.0% |
Listing Count | 13 | 26.0% |
| Listings as % of Homes | 0.5% | 26.0% |
Days on Market | 37 | 32.0% |
Demographics — Keego Harbor, MI
As of the latest ACS Survey released in 2023, Keego Harbor, MI has a population of 4,260, which has decreased by -12.0% over the past 5 years. Keego Harbor, MI is a moderately popular place for families, as children make up 18.8% of the population. The area has a highly educated workforce, with 47.7% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 15.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 4,260 | -12.0% |
% Under 18 | 18.8% | 9.3% |
% Seniors | 17.2% | 22.0% |
% WFH | 15.4% | 285.0% |
% w/ College Degree | 47.7% | 20.5% |
As of the latest ACS Survey released in 2023, Keego Harbor, MI is a predominantly white area, with 83.8% of the population identifying as white. The white population has shrunk by 4.9% in the last 5 years. The second most common race or ethnicity in Keego Harbor, MI is hispanic, making up 5.4% of the population. Foreign-born residents account for 9.3% of the population in Keego Harbor, MI, and this percentage has increased by 13.4% 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 | 83.8% | -4.9% |
% Black | 4.7% | 11.9% |
% Hispanic | 5.4% | -11.5% |
% Asian | 1.4% | 55.6% |
% Foreign Born | 9.3% | 13.4% |
Mortgage and Risk — Keego Harbor, MI
According to HUD data as of 2023, there were 87 mortgage originations in Keego Harbor, MI, of which 90.0% of loans were conventional mortgages. The average loan-to-value was 60.0%, with 21.0% above 90% LTV (very high). This implies large mortgage risk in Keego Harbor, MI. Investor activity is low, as 2.0% of loans were by investors. 15.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 87 |
% Conventional Loans | 90.0% |
% Government Loans | 10.0% |
% Investor Loans | 2.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 15.0% |
Loan Activity
Rentals and Section 8 — Keego Harbor, MI
As of 2024, the percent of homes in Keego Harbor, MI under the Section 8 program is 0.2%. 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. 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Keego Harbor, MI, because HUD payments exceed market rent, while 1-bedroom and 2-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | N/A |
Total Units Section 8 | N/A |
% Rentals under Section 8 | 0.2% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$100 | $1,250 | $1,150 |
| 2 Bedroom | -$140 | $1,600 | $1,460 |
| 3 Bedroom | $40 | $1,750 | $1,790 |
| 4 Bedroom | -$160 | $2,100 | $1,940 |
Affordability — Keego Harbor, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.5 |
| Median Home Price | $298,000 |
| Median Household Income | $77,700 |