Wheeler, MI—48615
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Wheeler, MI
Home Price Trends — Wheeler, MI
As of Oct '25, the median home price in Wheeler, MI is $167,000, with a year-over-year change of -0.1%. This indicates that home prices in Wheeler, MI are flat. According to Zillow, the 1-year price projection is 2.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $167,000 | -0.1% |
| Single Family | $167,000 | 0.6% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $130,000 | -0.8% |
3 Bed | $184,000 | 2.2% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Wheeler, MI
Wheeler, MI lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | N/A | N/A |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Wheeler, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Wheeler, MI is 17. This is a decrease of -33.0% 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 0.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $181,000 | -14.0% |
Listing Count | 8 | -37.0% |
| Listings as % of Homes | 0.7% | -37.0% |
Days on Market | 17 | -33.0% |
Demographics — Wheeler, MI
As of the latest ACS Survey released in 2023, Wheeler, MI has a population of 2,810, which has decreased by -5.1% over the past 5 years. Wheeler, MI is a moderately popular place for families, as children make up 23.8% of the population. The area has a poorly educated workforce, with 19.2% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 2,810 | -5.1% |
% Under 18 | 23.8% | -8.8% |
% Seniors | 19.7% | 23.9% |
% WFH | 7.9% | 154.8% |
% w/ College Degree | 19.2% | 35.2% |
As of the latest ACS Survey released in 2023, Wheeler, MI is a predominantly white area, with 89.9% 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 Wheeler, MI is hispanic, making up 5.8% of the population. Foreign-born residents account for 0.9% of the population in Wheeler, MI, and this percentage has increased by 80.0% 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 | 89.9% | -2.2% |
% Black | 0.2% | ∞% |
% Hispanic | 5.8% | 7.4% |
% Asian | 0.0% | -100.0% |
% Foreign Born | 0.9% | 80.0% |
Mortgage and Risk — Wheeler, MI
According to HUD data as of 2023, there were 62 mortgage originations in Wheeler, MI, of which 77.0% of loans were conventional mortgages. The average loan-to-value was 71.0%, with 39.0% above 90% LTV (very high). This implies large mortgage risk in Wheeler, MI. Investor activity is low, as 0.0% of loans were by investors. 13.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 62 |
% Conventional Loans | 77.0% |
% Government Loans | 23.0% |
% Investor Loans | 0.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 13.0% |
Loan Activity
Rentals and Section 8 — Wheeler, MI
Wheeler, MI lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 39 |
Total Units Section 8 | 39 |
% Rentals under Section 8 | 17.6% |
% Occupied Section 8 | 95.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $800 |
| 2 Bedroom | N/A | N/A | $1,010 |
| 3 Bedroom | N/A | N/A | $1,330 |
| 4 Bedroom | N/A | N/A | $1,590 |
Affordability — Wheeler, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.2 |
| Median Home Price | $167,000 |
| Median Household Income | $72,700 |