Lapeer, MI—48446
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Lapeer, MI
As of Oct '25, the median home price in Lapeer, MI is $255,000, with a year-over-year change of 2.4%. This indicates that home prices in Lapeer, 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 | $255,000 | 2.4% |
| Single Family | $256,000 | 2.8% |
| Condos | $239,000 | 5.8% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $194,000 | 2.6% |
3 Bed | $254,000 | 2.8% |
4 Bed | $326,000 | 3.5% |
| 5 Bed | $403,000 | 2.3% |
% of Housing Stock
Rental Trends — Lapeer, MI
As of July '25, Rentcast reports the average rent in Lapeer, MI is $1,510, with a year-over-year rent change of 11.0%. Per bedroom, the median rent as of July '25 in Lapeer, MI is 1-bedrooms: $1,220, 2-bedrooms: $1,270, 3-bedrooms: $1,810, 4-bedrooms: $2,460. The most common rental property sizes in Lapeer, MI are 2-bedroom and 1-bedroom, accounting for 43.6% and 24.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,320 | $1,510 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,000 | $1,220 |
| 2 Bed Rent | $1,200 | $1,270 |
| 3 Bed Rent | $1,800 | $1,810 |
| 4 Bed Rent | $2,600 | $2,460 |
% of Rental Stock
Property Listings — Lapeer, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Lapeer, MI is 52. This is a increase of 19.0% 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 26.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $350,000 | 12.0% |
Listing Count | 116 | 26.0% |
| Listings as % of Homes | 0.4% | 26.0% |
Days on Market | 52 | 19.0% |
Demographics — Lapeer, MI
As of the latest ACS Survey released in 2023, Lapeer, MI has a population of 30,800, which has remained stable by -0.6% over the past 5 years. Lapeer, MI is a moderately popular place for families, as children make up 19.4% of the population. The area has a poorly educated workforce, with 19.7% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 30,800 | -0.6% |
% Under 18 | 19.4% | -4.0% |
% Seniors | 20.1% | 6.3% |
% WFH | 7.3% | 180.8% |
% w/ College Degree | 19.7% | 13.9% |
As of the latest ACS Survey released in 2023, Lapeer, MI is a predominantly white area, with 89.3% of the population identifying as white. The white population has shrunk by 2.2% in the last 5 years. The second most common race or ethnicity in Lapeer, MI is hispanic, making up 3.4% of the population. Foreign-born residents account for 1.2% of the population in Lapeer, MI, and this percentage has decreased by 14.3% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 89.3% | -2.2% |
% Black | 3.1% | 3.3% |
% Hispanic | 3.4% | 17.2% |
% Asian | 0.3% | -62.5% |
% Foreign Born | 1.2% | -14.3% |
Mortgage and Risk — Lapeer, MI
According to HUD data as of 2023, there were 634 mortgage originations in Lapeer, MI, of which 80.0% of loans were conventional mortgages. The average loan-to-value was 62.0%, with 27.0% above 90% LTV (very high). This implies large mortgage risk in Lapeer, 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 | 634 |
% Conventional Loans | 80.0% |
% Government Loans | 20.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — Lapeer, MI
As of 2024, the percent of homes in Lapeer, MI under the Section 8 program is 28.2%. 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 Lapeer, 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 | 701 |
Total Units Section 8 | 692 |
% Rentals under Section 8 | 28.2% |
% Occupied Section 8 | 91.5% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$60 | $1,000 | $940 |
| 2 Bedroom | -$10 | $1,200 | $1,190 |
| 3 Bedroom | -$340 | $1,800 | $1,460 |
| 4 Bedroom | -$1,020 | $2,600 | $1,580 |
Affordability — Lapeer, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.4 |
| Median Home Price | $255,000 |
| Median Household Income | $66,400 |