Bay City, MI—48708
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Bay City, MI
As of Oct '25, the median home price in Bay City, MI is $129,000, with a year-over-year change of 4.3%. This indicates that home prices in Bay City, MI are increasing. According to Zillow, the 1-year price projection is 3.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $129,000 | 4.3% |
| Single Family | $128,000 | 4.9% |
| Condos | $351,000 | 5.4% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $103,000 | 6.2% |
3 Bed | $134,000 | 6.3% |
4 Bed | $137,000 | 4.6% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Bay City, MI
As of July '25, Rentcast reports the average rent in Bay City, MI is $902, with a year-over-year rent change of 3.2%. Per bedroom, the median rent as of July '25 in Bay City, MI is studios: $724, 1-bedrooms: $791, 2-bedrooms: $958, 3-bedrooms: $1,210. The most common rental property sizes in Bay City, MI are 1-bedroom and 2-bedroom, accounting for 43.4% and 26.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $850 | $902 |
| Studio Rent | $699 | $724 |
| 1 Bed Rent | $800 | $791 |
| 2 Bed Rent | $900 | $958 |
| 3 Bed Rent | $1,100 | $1,210 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Bay City, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Bay City, MI is 40. This is a increase of 1.0% from last year, suggesting that homes are sitting on the market about the same amount of time than last year. The percentage of listed homes with a reduced price is 51.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $139,000 | -4.0% |
Listing Count | 91 | 4.0% |
| Listings as % of Homes | 0.4% | 4.0% |
Days on Market | 40 | 1.0% |
Demographics — Bay City, MI
As of the latest ACS Survey released in 2023, Bay City, MI has a population of 25,800, which has decreased by -2.0% over the past 5 years. Bay City, MI is a moderately popular place for families, as children make up 18.8% of the population. The area has a poorly educated workforce, with 17.2% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 25,800 | -2.0% |
% Under 18 | 18.8% | -15.7% |
% Seniors | 17.8% | 7.9% |
% WFH | 6.5% | 75.7% |
% w/ College Degree | 17.2% | -2.3% |
As of the latest ACS Survey released in 2023, Bay City, MI is a predominantly white area, with 80.8% of the population identifying as white. The white population has shrunk by 3.6% in the last 5 years. The second most common race or ethnicity in Bay City, MI is hispanic, making up 10.5% of the population. Foreign-born residents account for 1.9% of the population in Bay City, MI, and this percentage has increased by 5.6% 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 | 80.8% | -3.6% |
% Black | 3.0% | -6.2% |
% Hispanic | 10.5% | 10.5% |
% Asian | 0.7% | 40.0% |
% Foreign Born | 1.9% | 5.6% |
Mortgage and Risk — Bay City, MI
According to HUD data as of 2023, there were 429 mortgage originations in Bay City, MI, of which 78.0% of loans were conventional mortgages. The average loan-to-value was 71.0%, with 35.0% above 90% LTV (very high). This implies large mortgage risk in Bay City, MI. Investor activity is low, as 2.0% 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 | 429 |
% Conventional Loans | 78.0% |
% Government Loans | 22.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — Bay City, MI
Bay City, MI lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 1,039 |
Total Units Section 8 | 858 |
% Rentals under Section 8 | 24.4% |
% Occupied Section 8 | 94.7% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$70 | $800 | $730 |
| 2 Bedroom | $30 | $900 | $930 |
| 3 Bedroom | $150 | $1,100 | $1,250 |
| 4 Bedroom | N/A | N/A | $1,340 |
Affordability — Bay City, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.2 |
| Median Home Price | $129,000 |
| Median Household Income | $50,200 |