Ithaca, MI 48847 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Ithaca, MI—48847

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$190,000

4.8% YoY Growth

Household Income

$64,000

28.7% YoY Growth

Days on Market

12.0% Longer YoY

Home Price Forecast

2.4%

Median Rent

$752

10.9% YoY Growth

1-Bed Rent

$752

7.4% YoY Growth

2-Bed Rent

$800

N/A

3-Bed Rent

N/A

Home Price Trends — Ithaca, MI

As of Dec '25, the median home price in Ithaca, MI is $190,000, with a year-over-year change of 4.8%. This indicates that home prices in Ithaca, MI are increasing. According to Zillow, the 1-year price projection is 2.4%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$190,000	4.8%
Single Family	$191,000	6.7%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Ithaca, MI

As of July '25, Rentcast reports the average rent in Ithaca, MI is $776, with a year-over-year rent change of 10.9%. Per bedroom, the median rent as of July '25 in Ithaca, MI is 1-bedrooms: $752, 2-bedrooms: $800. The most common rental property sizes in Ithaca, MI are 2-bedroom and 1-bedroom, accounting for 39.2% and 24.4% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$752	$776
Studio Rent	N/A	N/A
1 Bed Rent	$752	$752
2 Bed Rent	$800	$800
3 Bed Rent	N/A	N/A
4 Bed Rent	N/A	N/A

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% of Rental Stock

Studio

1.9%

1 Bedroom

24.4%

2 Bedrooms

39.2%

3 Bedrooms

19.4%

4 Bedrooms

9.3%

5+ Bedrooms

5.9%

Property Listings — Ithaca, MI

As of Dec '25, Realtor.com reports that the median days on market for a home in Ithaca, MI is 47. This is a decrease of -26.0% 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 31.0%, representing a large inventory and a lot of supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$179,000	1.0%
Listing Count	12	-28.0%
Listings as % of Homes	0.6%	-28.0%
Days on Market	68	12.0%

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Demographics — Ithaca, MI

As of the latest ACS Survey released in 2023, Ithaca, MI has a population of 5,770, which has decreased by -3.6% over the past 5 years. Ithaca, MI is a moderately popular place for families, as children make up 20.9% of the population. The area has a poorly educated workforce, with 22.5% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 3.6% reporting working from home.

Metric	Latest Census	YoY % Change
Population	5,770	-3.6%
% Under 18	20.9%	-18.7%
% Seniors	16.1%	-1.8%
% WFH	3.6%	-14.3%
% w/ College Degree	22.5%	60.7%

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As of the latest ACS Survey released in 2023, Ithaca, MI is a predominantly white area, with 89.9% of the population identifying as white. The white population has shrunk by 0.4% in the last 5 years. The second most common race or ethnicity in Ithaca, MI is hispanic, making up 5.6% of the population. Foreign-born residents account for 1.3% of the population in Ithaca, MI, and this percentage has increased by 116.7% 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	89.9%	-0.4%
% Black	0.4%	-50.0%
% Hispanic	5.6%	-18.8%
% Asian	0.0%	-100.0%
% Foreign Born	1.3%	116.7%

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Mortgage and Risk — Ithaca, MI

According to HUD data as of 2023, there were 61 mortgage originations in Ithaca, MI, of which 80.0% of loans were conventional mortgages. The average loan-to-value was 62.0%, with 30.0% above 90% LTV (very high). This implies large mortgage risk in Ithaca, 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	61
% Conventional Loans	80.0%
% Government Loans	20.0%
% Investor Loans	2.0%
% Second Loans	2.0%
% Cash Out Refinance	13.0%

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Rentals and Section 8 — Ithaca, MI

Ithaca, MI lacks sufficient Section 8 program data for analysis.

Section 8 Market Size

Total Units under HUD	45
Total Units Section 8	45
% Rentals under Section 8	N/A
% Occupied Section 8	81.0%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	-$12	$752	$740
2 Bedroom	$130	$800	$930
3 Bedroom	N/A	N/A	$1,230
4 Bedroom	N/A	N/A	$1,530

Ithaca, MI—48847

Key Metrics at a Glance

Home Price Trends — Ithaca, MI

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Ithaca, MI

% of Rental Stock

Property Listings — Ithaca, MI

Demographics — Ithaca, MI

Race and Ethnicity

Mortgage and Risk — Ithaca, MI

Mortgages

Rentals and Section 8 — Ithaca, MI

Section 8 Market Size

Section 8 Opportunity

Affordability — Ithaca, MI

Home Price to Income Ratio

Ithaca, MI — ZIP Code Boundary Map

Nearby ZIP Codes

Pompeii

Ashley, MI

Alma, MI

Perrinton, MI

Middleton, MI

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	2.8
Median Home Price	$190,000
Median Household Income	$64,000

Ithaca, MI—48847

Key Metrics at a Glance

Home Price Trends — Ithaca, MI

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Ithaca, MI

% of Rental Stock

Property Listings — Ithaca, MI

Demographics — Ithaca, MI

Race and Ethnicity

Mortgage and Risk — Ithaca, MI

Mortgages

Rentals and Section 8 — Ithaca, MI

Section 8 Market Size

Section 8 Opportunity

Affordability — Ithaca, MI

Home Price to Income Ratio

Ithaca, MI — ZIP Code Boundary Map

Nearby ZIP Codes

Pompeii

Ashley, MI

Alma, MI

Perrinton, MI

Middleton, MI

Frequently Asked Questions

What is the average home price in Ithaca, MI 48847?

How have home prices in Ithaca, MI 48847 changed over the past year?

What is the home price projection for Ithaca, MI 48847?

What are the demographics of Ithaca, MI 48847?

How long does it take homes to sell in Ithaca, MI 48847?

What is the average rent price in Ithaca, MI 48847?