Elsie, MI—48831
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Elsie, MI
As of Oct '25, the median home price in Elsie, MI is $193,000, with a year-over-year change of 0.9%. This indicates that home prices in Elsie, MI are flat. According to Zillow, the 1-year price projection is 2.0%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $193,000 | 0.9% |
| Single Family | $192,000 | 1.1% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $153,000 | 3.4% |
3 Bed | $214,000 | 0.9% |
4 Bed | $213,000 | 0.5% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Elsie, MI
Elsie, 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 — Elsie, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Elsie, MI is 43. This is a decrease of -5.0% 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 29.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $162,000 | -15.0% |
Listing Count | 7 | -24.0% |
| Listings as % of Homes | 0.3% | -24.0% |
Days on Market | 43 | -5.0% |
Demographics — Elsie, MI
As of the latest ACS Survey released in 2023, Elsie, MI has a population of 3,280, which has decreased by -9.5% over the past 5 years. Elsie, MI is a moderately popular place for families, as children make up 19.2% of the population. The area has a poorly educated workforce, with 15.3% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 3,280 | -9.5% |
% Under 18 | 19.2% | -19.7% |
% Seniors | 17.9% | 4.1% |
% WFH | 7.6% | 0.0% |
% w/ College Degree | 15.3% | 19.5% |
As of the latest ACS Survey released in 2023, Elsie, MI is a predominantly white area, with 94.9% of the population identifying as white. The white population has grown by 6.7% in the last 5 years. The second most common race or ethnicity in Elsie, MI is hispanic, making up 2.5% of the population. Foreign-born residents account for 0.9% of the population in Elsie, MI, and this percentage has decreased by 43.8% 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 | 94.9% | 6.7% |
% Black | 0.3% | -70.0% |
% Hispanic | 2.5% | -40.5% |
% Asian | 0.6% | 500.0% |
% Foreign Born | 0.9% | -43.8% |
Mortgage and Risk — Elsie, MI
According to HUD data as of 2023, there were 37 mortgage originations in Elsie, MI, of which 70.0% of loans were conventional mortgages. The average loan-to-value was 67.0%, with 32.0% above 90% LTV (very high). This implies large mortgage risk in Elsie, MI. Investor activity is low, as 0.0% of loans were by investors. 19.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 37 |
% Conventional Loans | 70.0% |
% Government Loans | 30.0% |
% Investor Loans | 0.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 19.0% |
Loan Activity
Rentals and Section 8 — Elsie, MI
Elsie, MI lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 5 |
Total Units Section 8 | 5 |
% Rentals under Section 8 | 2.4% |
% Occupied Section 8 | N/A |
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 | $990 |
| 3 Bedroom | N/A | N/A | $1,290 |
| 4 Bedroom | N/A | N/A | $1,380 |
Affordability — Elsie, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.8 |
| Median Home Price | $193,000 |
| Median Household Income | $61,800 |