Goodrich, MI—48438
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Goodrich, MI
As of Oct '25, the median home price in Goodrich, MI is $358,000, with a year-over-year change of 5.6%. This indicates that home prices in Goodrich, MI are increasing. According to Zillow, the 1-year price projection is 1.9%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $358,000 | 5.6% |
| Single Family | $363,000 | 5.5% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $253,000 | 3.7% |
3 Bed | $340,000 | 6.2% |
4 Bed | $420,000 | 4.7% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Goodrich, MI
As of July '25, Rentcast reports the average rent in Goodrich, MI is $1,630, with a year-over-year rent change of -21.3%. Per bedroom, the median rent as of July '25 in Goodrich, MI is 2-bedrooms: $1,500, 3-bedrooms: $1,900. The most common rental property sizes in Goodrich, MI are 3-bedroom and 2-bedroom, accounting for 59.8% and 30.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,500 | $1,630 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $1,500 | $1,500 |
| 3 Bed Rent | $1,900 | $1,900 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Goodrich, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Goodrich, MI is 69. This is a increase of 14.0% 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 25.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $465,000 | 0.0% |
Listing Count | 32 | 22.0% |
| Listings as % of Homes | 0.4% | 22.0% |
Days on Market | 69 | 14.0% |
Demographics — Goodrich, MI
As of the latest ACS Survey released in 2023, Goodrich, MI has a population of 7,300, which has increased by 5.0% over the past 5 years. Goodrich, MI is a moderately popular place for families, as children make up 22.3% of the population. The area has a moderately educated workforce, with 34.4% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 7,300 | 5.0% |
% Under 18 | 22.3% | -10.1% |
% Seniors | 17.8% | 29.9% |
% WFH | 12.9% | 416.0% |
% w/ College Degree | 34.4% | 2.7% |
As of the latest ACS Survey released in 2023, Goodrich, MI is a predominantly white area, with 91.7% 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 Goodrich, MI is hispanic, making up 3.8% of the population. Foreign-born residents account for 2.1% of the population in Goodrich, MI, and this percentage has increased by 5.0% 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 | 91.7% | -4.9% |
% Black | 0.4% | -50.0% |
% Hispanic | 3.8% | 216.7% |
% Asian | 0.0% | N/A |
% Foreign Born | 2.1% | 5.0% |
Mortgage and Risk — Goodrich, MI
According to HUD data as of 2023, there were 164 mortgage originations in Goodrich, MI, of which 90.0% of loans were conventional mortgages. The average loan-to-value was 55.0%, with 16.0% above 90% LTV (elevated). This implies medium mortgage risk in Goodrich, 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 | 164 |
% Conventional Loans | 90.0% |
% Government Loans | 10.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 16.0% |
Loan Activity
Rentals and Section 8 — Goodrich, MI
Goodrich, MI lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | N/A |
Total Units Section 8 | N/A |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $1,150 |
| 2 Bedroom | -$80 | $1,500 | $1,420 |
| 3 Bedroom | -$150 | $1,900 | $1,750 |
| 4 Bedroom | N/A | N/A | $1,990 |
Affordability — Goodrich, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.1 |
| Median Home Price | $358,000 |
| Median Household Income | $101,000 |