Grand Ledge, MI—48837
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Grand Ledge, MI
As of Oct '25, the median home price in Grand Ledge, MI is $291,000, with a year-over-year change of 3.4%. This indicates that home prices in Grand Ledge, MI are increasing. According to Zillow, the 1-year price projection is 1.4%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $291,000 | 3.4% |
| Single Family | $293,000 | 4.3% |
| Condos | $270,000 | -1.8% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $201,000 | 3.1% |
3 Bed | $291,000 | 3.6% |
4 Bed | $364,000 | 3.1% |
| 5 Bed | $437,000 | 3.1% |
% of Housing Stock
Rental Trends — Grand Ledge, MI
As of July '25, Rentcast reports the average rent in Grand Ledge, MI is $1,250, with a year-over-year rent change of -11.3%. Per bedroom, the median rent as of July '25 in Grand Ledge, MI is 1-bedrooms: $987, 2-bedrooms: $1,220, 3-bedrooms: $1,570. The most common rental property sizes in Grand Ledge, MI are 2-bedroom and 1-bedroom, accounting for 54.9% and 22.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,180 | $1,250 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $900 | $987 |
| 2 Bed Rent | $1,130 | $1,220 |
| 3 Bed Rent | $1,590 | $1,570 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Grand Ledge, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Grand Ledge, MI is 42. This is a decrease of -12.0% 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 28.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $358,000 | 14.0% |
Listing Count | 57 | 16.0% |
| Listings as % of Homes | 0.3% | 16.0% |
Days on Market | 42 | -12.0% |
Demographics — Grand Ledge, MI
As of the latest ACS Survey released in 2023, Grand Ledge, MI has a population of 19,800, which has remained stable by 0.8% over the past 5 years. Grand Ledge, MI is a moderately popular place for families, as children make up 20.1% of the population. The area has a moderately educated workforce, with 39.0% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 15.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 19,800 | 0.8% |
% Under 18 | 20.1% | -14.1% |
% Seniors | 20.0% | 17.0% |
% WFH | 15.6% | 372.7% |
% w/ College Degree | 39.0% | 10.5% |
As of the latest ACS Survey released in 2023, Grand Ledge, MI is a predominantly white area, with 87.8% 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 Grand Ledge, MI is hispanic, making up 4.0% of the population. Foreign-born residents account for 1.3% of the population in Grand Ledge, MI, and this percentage has decreased by 27.8% 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 | 87.8% | -3.7% |
% Black | 2.1% | 162.5% |
% Hispanic | 4.0% | -13.0% |
% Asian | 1.0% | 11.1% |
% Foreign Born | 1.3% | -27.8% |
Mortgage and Risk — Grand Ledge, MI
According to HUD data as of 2023, there were 411 mortgage originations in Grand Ledge, MI, of which 86.0% of loans were conventional mortgages. The average loan-to-value was 60.0%, with 26.0% above 90% LTV (very high). This implies large mortgage risk in Grand Ledge, MI. Investor activity is low, as 1.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 411 |
% Conventional Loans | 86.0% |
% Government Loans | 14.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Grand Ledge, MI
Grand Ledge, MI lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 149 |
Total Units Section 8 | 149 |
% Rentals under Section 8 | 9.5% |
% Occupied Section 8 | 95.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$20 | $900 | $880 |
| 2 Bedroom | -$40 | $1,130 | $1,090 |
| 3 Bedroom | -$170 | $1,590 | $1,420 |
| 4 Bedroom | N/A | N/A | $1,520 |
Affordability — Grand Ledge, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.8 |
| Median Home Price | $291,000 |
| Median Household Income | $93,200 |