Charlotte, MI—48813
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Charlotte, MI
As of Oct '25, the median home price in Charlotte, MI is $229,000, with a year-over-year change of 1.6%. This indicates that home prices in Charlotte, MI are increasing. According to Zillow, the 1-year price projection is 1.6%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $229,000 | 1.6% |
| Single Family | $229,000 | 1.3% |
| Condos | $224,000 | -1.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $180,000 | 2.9% |
3 Bed | $235,000 | 2.6% |
4 Bed | $266,000 | 2.3% |
| 5 Bed | $311,000 | 3.0% |
% of Housing Stock
Rental Trends — Charlotte, MI
As of July '25, Rentcast reports the average rent in Charlotte, MI is $1,160, with a year-over-year rent change of 25.8%. Per bedroom, the median rent as of July '25 in Charlotte, MI is 1-bedrooms: $801, 2-bedrooms: $1,300, 3-bedrooms: $1,600. The most common rental property sizes in Charlotte, MI are 2-bedroom and 1-bedroom, accounting for 38.0% and 24.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,300 | $1,160 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $783 | $801 |
| 2 Bed Rent | $1,300 | $1,300 |
| 3 Bed Rent | $1,600 | $1,600 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Charlotte, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Charlotte, MI is 38. This is a decrease of -11.0% 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 21.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $314,000 | 9.0% |
Listing Count | 57 | -21.0% |
| Listings as % of Homes | 0.6% | -21.0% |
Days on Market | 38 | -11.0% |
Demographics — Charlotte, MI
As of the latest ACS Survey released in 2023, Charlotte, MI has a population of 20,300, which has decreased by -3.4% over the past 5 years. Charlotte, MI is a moderately popular place for families, as children make up 22.4% of the population. The area has a poorly educated workforce, with 19.0% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 20,300 | -3.4% |
% Under 18 | 22.4% | 0.0% |
% Seniors | 16.7% | -7.7% |
% WFH | 9.4% | 203.2% |
% w/ College Degree | 19.0% | 3.8% |
As of the latest ACS Survey released in 2023, Charlotte, MI is a predominantly white area, with 89.1% 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 Charlotte, MI is hispanic, making up 5.0% of the population. Foreign-born residents account for 1.3% of the population in Charlotte, MI, and this percentage has decreased by 23.5% 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 | 89.1% | -3.6% |
% Black | 1.3% | 44.4% |
% Hispanic | 5.0% | 19.0% |
% Asian | 0.9% | 125.0% |
% Foreign Born | 1.3% | -23.5% |
Mortgage and Risk — Charlotte, MI
According to HUD data as of 2023, there were 378 mortgage originations in Charlotte, MI, of which 77.0% of loans were conventional mortgages. The average loan-to-value was 65.0%, with 32.0% above 90% LTV (very high). This implies large mortgage risk in Charlotte, 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 | 378 |
% Conventional Loans | 77.0% |
% Government Loans | 23.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — Charlotte, MI
Charlotte, MI lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 197 |
Total Units Section 8 | 190 |
% Rentals under Section 8 | 12.8% |
% Occupied Section 8 | 88.5% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $17 | $783 | $800 |
| 2 Bedroom | -$310 | $1,300 | $990 |
| 3 Bedroom | -$310 | $1,600 | $1,290 |
| 4 Bedroom | N/A | N/A | $1,340 |
Affordability — Charlotte, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.6 |
| Median Home Price | $229,000 |
| Median Household Income | $77,400 |