Eaton Rapids, MI—48827
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Eaton Rapids, MI
As of Oct '25, the median home price in Eaton Rapids, MI is $244,000, with a year-over-year change of 4.0%. This indicates that home prices in Eaton Rapids, 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 | $244,000 | 4.0% |
| Single Family | $245,000 | 4.3% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $174,000 | 4.2% |
3 Bed | $247,000 | 3.8% |
4 Bed | $297,000 | 4.2% |
| 5 Bed | $330,000 | 4.8% |
% of Housing Stock
Rental Trends — Eaton Rapids, MI
As of July '25, Rentcast reports the average rent in Eaton Rapids, MI is $1,060, with a year-over-year rent change of -27.4%. Per bedroom, the median rent as of July '25 in Eaton Rapids, MI is studios: $750, 1-bedrooms: $925, 3-bedrooms: $1,800. The most common rental property sizes in Eaton Rapids, MI are 2-bedroom and 1-bedroom, accounting for 33.8% and 31.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $850 | $1,060 |
| Studio Rent | $750 | $750 |
| 1 Bed Rent | $850 | $925 |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | $1,800 | $1,800 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Eaton Rapids, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Eaton Rapids, MI is 23. This is a decrease of -18.0% 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 38.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $289,000 | 27.0% |
Listing Count | 52 | -9.0% |
| Listings as % of Homes | 0.6% | -9.0% |
Days on Market | 23 | -18.0% |
Demographics — Eaton Rapids, MI
As of the latest ACS Survey released in 2023, Eaton Rapids, MI has a population of 16,100, which has remained stable by 0.7% over the past 5 years. Eaton Rapids, MI is a moderately popular place for families, as children make up 23.5% of the population. The area has a poorly educated workforce, with 21.9% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 13.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 16,100 | 0.7% |
% Under 18 | 23.5% | 7.8% |
% Seniors | 18.7% | 6.2% |
% WFH | 13.5% | 365.5% |
% w/ College Degree | 21.9% | 25.9% |
As of the latest ACS Survey released in 2023, Eaton Rapids, MI is a predominantly white area, with 90.2% of the population identifying as white. The white population has shrunk by 3.7% in the last 5 years. The second most common race or ethnicity in Eaton Rapids, MI is hispanic, making up 5.3% of the population. Foreign-born residents account for 1.5% of the population in Eaton Rapids, MI, and this percentage has decreased by 25.0% 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 | 90.2% | -3.7% |
% Black | 0.4% | -73.3% |
% Hispanic | 5.3% | 71.0% |
% Asian | 0.5% | -37.5% |
% Foreign Born | 1.5% | -25.0% |
Mortgage and Risk — Eaton Rapids, MI
According to HUD data as of 2023, there were 256 mortgage originations in Eaton Rapids, MI, of which 74.0% of loans were conventional mortgages. The average loan-to-value was 68.0%, with 33.0% above 90% LTV (very high). This implies large mortgage risk in Eaton Rapids, MI. Investor activity is low, as 2.0% 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 | 256 |
% Conventional Loans | 74.0% |
% Government Loans | 26.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 13.0% |
Loan Activity
Rentals and Section 8 — Eaton Rapids, MI
Eaton Rapids, MI lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 94 |
Total Units Section 8 | 94 |
% Rentals under Section 8 | 8.1% |
% Occupied Section 8 | 93.2% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $30 | $850 | $880 |
| 2 Bedroom | N/A | N/A | $1,090 |
| 3 Bedroom | -$380 | $1,800 | $1,420 |
| 4 Bedroom | N/A | N/A | $1,460 |
Affordability — Eaton Rapids, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.8 |
| Median Home Price | $244,000 |
| Median Household Income | $76,200 |