Morrice, MI—48857
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Morrice, MI
As of Oct '25, the median home price in Morrice, MI is $236,000, with a year-over-year change of 2.9%. This indicates that home prices in Morrice, MI are increasing. According to Zillow, the 1-year price projection is 1.6%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $236,000 | 2.9% |
| Single Family | $236,000 | 4.0% |
| 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 | $238,000 | 4.4% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Morrice, MI
Morrice, 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 — Morrice, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Morrice, MI is 66. This is a increase of 78.0% 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 0.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $210,000 | -61.0% |
Listing Count | 4 | 50.0% |
| Listings as % of Homes | 0.2% | 50.0% |
Days on Market | 66 | 78.0% |
Demographics — Morrice, MI
As of the latest ACS Survey released in 2023, Morrice, MI has a population of 3,490, which has increased by 23.8% over the past 5 years. Morrice, MI is a popular place for families, as children make up 27.2% of the population. The area has a poorly educated workforce, with 11.7% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 4.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 3,490 | 23.8% |
% Under 18 | 27.2% | 22.0% |
% Seniors | 16.4% | 40.2% |
% WFH | 4.2% | -23.6% |
% w/ College Degree | 11.7% | -27.8% |
As of the latest ACS Survey released in 2023, Morrice, MI is a predominantly white area, with 93.1% of the population identifying as white. The white population has shrunk by 2.8% in the last 5 years. The second most common race or ethnicity in Morrice, MI is hispanic, making up 1.7% of the population. Foreign-born residents account for 0.5% of the population in Morrice, MI, and this percentage has remained stable as of the ACS Survey 5 years prior, suggesting immigration has remained steady.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 93.1% | -2.8% |
% Black | 0.5% | ∞% |
% Hispanic | 1.7% | -19.0% |
% Asian | 0.5% | 150.0% |
% Foreign Born | 0.5% | 0.0% |
Mortgage and Risk — Morrice, MI
According to HUD data as of 2023, there were 38 mortgage originations in Morrice, MI, of which 82.0% of loans were conventional mortgages. The average loan-to-value was 67.0%, with 21.0% above 90% LTV (very high). This implies large mortgage risk in Morrice, MI. Investor activity is low, as 0.0% of loans were by investors. 21.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 38 |
% Conventional Loans | 82.0% |
% Government Loans | 18.0% |
% Investor Loans | 0.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 21.0% |
Loan Activity
Rentals and Section 8 — Morrice, MI
Morrice, 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 | $1,060 |
| 3 Bedroom | N/A | N/A | $1,420 |
| 4 Bedroom | N/A | N/A | $1,540 |
Affordability — Morrice, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.5 |
| Median Home Price | $236,000 |
| Median Household Income | $81,300 |