Mount Pleasant, MI—48858
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Mount Pleasant, MI
As of Oct '25, the median home price in Mount Pleasant, MI is $210,000, with a year-over-year change of 0.1%. This indicates that home prices in Mount Pleasant, MI are flat. According to Zillow, the 1-year price projection is 0.2%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $210,000 | 0.1% |
| Single Family | $209,000 | 0.0% |
| Condos | $221,000 | 3.8% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $146,000 | 2.8% |
3 Bed | $199,000 | 2.1% |
4 Bed | $260,000 | 1.6% |
| 5 Bed | $269,000 | 0.4% |
% of Housing Stock
Rental Trends — Mount Pleasant, MI
As of July '25, Rentcast reports the average rent in Mount Pleasant, MI is $1,040, with a year-over-year rent change of -1.9%. Per bedroom, the median rent as of July '25 in Mount Pleasant, MI is 1-bedrooms: $620, 2-bedrooms: $786, 3-bedrooms: $1,160, 4-bedrooms: $1,240. The most common rental property sizes in Mount Pleasant, MI are 2-bedroom and 3-bedroom, accounting for 45.3% and 18.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $900 | $1,040 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $620 | $620 |
| 2 Bed Rent | $750 | $786 |
| 3 Bed Rent | $1,150 | $1,160 |
| 4 Bed Rent | $1,180 | $1,240 |
% of Rental Stock
Property Listings — Mount Pleasant, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Mount Pleasant, MI is 56. This is a increase of 4.0% 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 | $230,000 | -1.0% |
Listing Count | 117 | -7.0% |
| Listings as % of Homes | 0.5% | -7.0% |
Days on Market | 56 | 4.0% |
Demographics — Mount Pleasant, MI
As of the latest ACS Survey released in 2023, Mount Pleasant, MI has a population of 42,700, which has decreased by -15.4% over the past 5 years. Mount Pleasant, MI is a moderately popular place for families, as children make up 16.3% of the population. The area has a moderately educated workforce, with 37.1% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 42,700 | -15.4% |
% Under 18 | 16.3% | 7.2% |
% Seniors | 11.7% | 23.2% |
% WFH | 5.7% | 54.1% |
% w/ College Degree | 37.1% | 4.8% |
As of the latest ACS Survey released in 2023, Mount Pleasant, MI is a predominantly white area, with 81.2% of the population identifying as white. The white population has shrunk by 1.5% in the last 5 years. The second most common race or ethnicity in Mount Pleasant, MI is hispanic, making up 5.4% of the population. Foreign-born residents account for 3.7% of the population in Mount Pleasant, MI, and this percentage has decreased by 17.8% 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 | 81.2% | -1.5% |
% Black | 3.6% | 2.9% |
% Hispanic | 5.4% | 28.6% |
% Asian | 2.0% | -13.0% |
% Foreign Born | 3.7% | -17.8% |
Mortgage and Risk — Mount Pleasant, MI
According to HUD data as of 2023, there were 484 mortgage originations in Mount Pleasant, MI, of which 83.0% of loans were conventional mortgages. The average loan-to-value was 73.0%, with 30.0% above 90% LTV (very high). This implies large mortgage risk in Mount Pleasant, MI. Investor activity is low, as 2.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 484 |
% Conventional Loans | 83.0% |
% Government Loans | 17.0% |
% Investor Loans | 2.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Mount Pleasant, MI
As of 2024, the percent of homes in Mount Pleasant, MI under the Section 8 program is 6.3%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Mount Pleasant, MI, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 670 |
Total Units Section 8 | 547 |
% Rentals under Section 8 | 6.3% |
% Occupied Section 8 | 93.5% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $200 | $620 | $820 |
| 2 Bedroom | $220 | $750 | $970 |
| 3 Bedroom | $120 | $1,150 | $1,270 |
| 4 Bedroom | $120 | $1,180 | $1,300 |
Affordability — Mount Pleasant, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4 |
| Median Home Price | $210,000 |
| Median Household Income | $48,800 |