Greenville, MI—48838
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Greenville, MI
As of Oct '25, the median home price in Greenville, MI is $256,000, with a year-over-year change of 2.9%. This indicates that home prices in Greenville, MI are increasing. According to Zillow, the 1-year price projection is 2.7%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $256,000 | 2.9% |
| Single Family | $255,000 | 3.7% |
| Condos | $307,000 | 3.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $207,000 | 4.0% |
3 Bed | $271,000 | 3.4% |
4 Bed | $316,000 | 2.6% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Greenville, MI
As of July '25, Rentcast reports the average rent in Greenville, MI is $1,680, with a year-over-year rent change of 31.2%. Per bedroom, the median rent as of July '25 in Greenville, MI is 1-bedrooms: $1,200, 2-bedrooms: $1,280, 3-bedrooms: $1,810. The most common rental property sizes in Greenville, MI are 2-bedroom and 1-bedroom, accounting for 57.9% and 24.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,700 | $1,680 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,200 | $1,200 |
| 2 Bed Rent | $1,280 | $1,280 |
| 3 Bed Rent | $1,700 | $1,810 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Greenville, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Greenville, MI is 39. This is a increase of 5.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 27.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $285,000 | 2.0% |
Listing Count | 66 | 39.0% |
| Listings as % of Homes | 0.6% | 39.0% |
Days on Market | 39 | 5.0% |
Demographics — Greenville, MI
As of the latest ACS Survey released in 2023, Greenville, MI has a population of 17,900, which has decreased by -2.1% over the past 5 years. Greenville, MI is a moderately popular place for families, as children make up 21.2% 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 5.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 17,900 | -2.1% |
% Under 18 | 21.2% | -9.0% |
% Seniors | 19.6% | 12.0% |
% WFH | 5.2% | 62.5% |
% w/ College Degree | 19.2% | 16.4% |
As of the latest ACS Survey released in 2023, Greenville, MI is a predominantly white area, with 85.2% of the population identifying as white. The white population has shrunk by 8.2% in the last 5 years. The second most common race or ethnicity in Greenville, MI is hispanic, making up 7.8% of the population. Foreign-born residents account for 3.2% of the population in Greenville, MI, and this percentage has increased by 52.4% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 85.2% | -8.2% |
% Black | 0.2% | -66.7% |
% Hispanic | 7.8% | 105.3% |
% Asian | 0.5% | -16.7% |
% Foreign Born | 3.2% | 52.4% |
Mortgage and Risk — Greenville, MI
According to HUD data as of 2023, there were 672 mortgage originations in Greenville, MI, of which 80.0% of loans were conventional mortgages. The average loan-to-value was 62.0%, with 29.0% above 90% LTV (very high). This implies large mortgage risk in Greenville, MI. Investor activity is low, as 2.0% of loans were by investors. 15.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 672 |
% Conventional Loans | 80.0% |
% Government Loans | 20.0% |
% Investor Loans | 2.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 15.0% |
Loan Activity
Rentals and Section 8 — Greenville, MI
Greenville, MI lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 392 |
Total Units Section 8 | 392 |
% Rentals under Section 8 | 21.1% |
% Occupied Section 8 | 83.1% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$170 | $1,200 | $1,030 |
| 2 Bedroom | -$40 | $1,280 | $1,240 |
| 3 Bedroom | -$90 | $1,700 | $1,610 |
| 4 Bedroom | N/A | N/A | $1,770 |
Affordability — Greenville, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.5 |
| Median Home Price | $256,000 |
| Median Household Income | $66,100 |