Freeland, MI—48623
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Freeland, MI
As of Oct '25, the median home price in Freeland, MI is $283,000, with a year-over-year change of 7.3%. This indicates that home prices in Freeland, MI are increasing. According to Zillow, the 1-year price projection is 3.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $283,000 | 7.3% |
| Single Family | $282,000 | 7.6% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $175,000 | 6.7% |
3 Bed | $277,000 | 7.8% |
4 Bed | $369,000 | 6.0% |
| 5 Bed | $406,000 | 5.2% |
% of Housing Stock
Rental Trends — Freeland, MI
As of July '25, Rentcast reports the average rent in Freeland, MI is $1,670, with a year-over-year rent change of 28.5%. Per bedroom, the median rent as of July '25 in Freeland, MI is 2-bedrooms: $1,140, 3-bedrooms: $2,140, 4-bedrooms: $3,000. The most common rental property sizes in Freeland, MI are 3-bedroom and 2-bedroom, accounting for 50.6% and 35.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,400 | $1,670 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $1,100 | $1,140 |
| 3 Bed Rent | $2,000 | $2,140 |
| 4 Bed Rent | $3,000 | $3,000 |
% of Rental Stock
Property Listings — Freeland, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Freeland, MI is 44. This is a decrease of -29.0% 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 41.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $402,000 | 12.0% |
Listing Count | 58 | 16.0% |
| Listings as % of Homes | 0.6% | 16.0% |
Days on Market | 44 | -29.0% |
Demographics — Freeland, MI
As of the latest ACS Survey released in 2023, Freeland, MI has a population of 15,100, which has increased by 11.3% over the past 5 years. Freeland, MI is a moderately popular place for families, as children make up 22.4% of the population. The area has a moderately educated workforce, with 32.9% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 11.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 15,100 | 11.3% |
% Under 18 | 22.4% | 4.2% |
% Seniors | 16.3% | 15.6% |
% WFH | 11.9% | 296.7% |
% w/ College Degree | 32.9% | 11.5% |
As of the latest ACS Survey released in 2023, Freeland, MI is a predominantly white area, with 86.5% of the population identifying as white. The white population has shrunk by 4.2% in the last 5 years. The second most common race or ethnicity in Freeland, MI is black, making up 4.7% of the population. Foreign-born residents account for 0.4% of the population in Freeland, MI, and this percentage has decreased by 76.5% 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 | 86.5% | -4.2% |
% Black | 4.7% | 11.9% |
% Hispanic | 3.2% | 23.1% |
% Asian | 0.9% | 0.0% |
% Foreign Born | 0.4% | -76.5% |
Mortgage and Risk — Freeland, MI
According to HUD data as of 2023, there were 281 mortgage originations in Freeland, MI, of which 85.0% of loans were conventional mortgages. The average loan-to-value was 65.0%, with 27.0% above 90% LTV (very high). This implies large mortgage risk in Freeland, MI. Investor activity is low, as 0.0% 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 | 281 |
% Conventional Loans | 85.0% |
% Government Loans | 15.0% |
% Investor Loans | 0.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 16.0% |
Loan Activity
Rentals and Section 8 — Freeland, MI
Freeland, MI lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 3 |
Total Units Section 8 | 3 |
% Rentals under Section 8 | 0.7% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $900 |
| 2 Bedroom | $70 | $1,100 | $1,170 |
| 3 Bedroom | -$480 | $2,000 | $1,520 |
| 4 Bedroom | -$1,430 | $3,000 | $1,570 |
Affordability — Freeland, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.5 |
| Median Home Price | $283,000 |
| Median Household Income | $96,400 |