Elwell, MI—48832
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Elwell, MI
As of Oct '25, the median home price in Elwell, MI is $186,000, with a year-over-year change of 4.7%. This indicates that home prices in Elwell, MI are increasing. According to Zillow, the 1-year price projection is 0.4%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $186,000 | 4.7% |
| Single Family | $187,000 | 6.2% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | N/A | N/A |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Elwell, MI
Elwell, 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 — Elwell, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Elwell, MI is 15. This is a decrease of -2.0% 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 0.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $175,000 | -52.0% |
Listing Count | 4 | -33.0% |
| Listings as % of Homes | 0.5% | -33.0% |
Days on Market | 15 | -2.0% |
Demographics — Elwell, MI
As of the latest ACS Survey released in 2023, Elwell, MI has a population of 1,290, which has decreased by -9.1% over the past 5 years. Elwell, MI is a moderately popular place for families, as children make up 20.2% of the population. The area has a poorly educated workforce, with 19.2% 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 | 1,290 | -9.1% |
% Under 18 | 20.2% | -11.8% |
% Seniors | 24.9% | 18.6% |
% WFH | 7.6% | 375.0% |
% w/ College Degree | 19.2% | 15.7% |
Elwell, MI lacks sufficient race and ethnicity data for analysis.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 91.3% | -3.3% |
% Black | 0.0% | N/A |
% Hispanic | 2.2% | -55.1% |
% Asian | 0.0% | N/A |
% Foreign Born | 0.0% | N/A |
Mortgage and Risk — Elwell, MI
Elwell, MI lacks sufficient mortgage origination data for analysis.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | N/A |
% Conventional Loans | N/A |
% Government Loans | N/A |
% Investor Loans | N/A |
% Second Loans | N/A |
% Cash Out Refinance | N/A |
Loan Activity
No data available
Rentals and Section 8 — Elwell, MI
Elwell, MI lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | N/A |
Total Units Section 8 | N/A |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $810 |
| 2 Bedroom | N/A | N/A | $1,030 |
| 3 Bedroom | N/A | N/A | $1,350 |
| 4 Bedroom | N/A | N/A | $1,680 |
Affordability — Elwell, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.8 |
| Median Home Price | $186,000 |
| Median Household Income | $62,200 |