Okemos, MI—48864
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Okemos, MI
As of Oct '25, the median home price in Okemos, MI is $388,000, with a year-over-year change of 3.2%. This indicates that home prices in Okemos, MI are increasing. According to Zillow, the 1-year price projection is 1.0%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $388,000 | 3.2% |
| Single Family | $404,000 | 2.5% |
| Condos | $295,000 | 5.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $234,000 | 6.8% |
3 Bed | $334,000 | 3.4% |
4 Bed | $449,000 | 2.5% |
| 5 Bed | $601,000 | 1.7% |
% of Housing Stock
Rental Trends — Okemos, MI
As of July '25, Rentcast reports the average rent in Okemos, MI is $2,160, with a year-over-year rent change of 19.3%. Per bedroom, the median rent as of July '25 in Okemos, MI is 1-bedrooms: $1,340, 2-bedrooms: $1,490, 3-bedrooms: $3,700, 4-bedrooms: $3,600. The most common rental property sizes in Okemos, MI are 2-bedroom and 1-bedroom, accounting for 50.3% and 21.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,520 | $2,160 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,460 | $1,340 |
| 2 Bed Rent | $1,500 | $1,490 |
| 3 Bed Rent | $3,700 | $3,700 |
| 4 Bed Rent | $3,500 | $3,600 |
% of Rental Stock
Property Listings — Okemos, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Okemos, MI is 57. This is a increase of 17.0% 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 29.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $421,000 | 2.0% |
Listing Count | 83 | 35.0% |
| Listings as % of Homes | 0.5% | 35.0% |
Days on Market | 57 | 17.0% |
Demographics — Okemos, MI
As of the latest ACS Survey released in 2023, Okemos, MI has a population of 23,500, which has increased by 1.8% over the past 5 years. Okemos, MI is a moderately popular place for families, as children make up 24.0% of the population. The area has a highly educated workforce, with 75.7% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 23.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 23,500 | 1.8% |
% Under 18 | 24.0% | 1.7% |
% Seniors | 15.4% | 14.1% |
% WFH | 23.1% | 305.3% |
% w/ College Degree | 75.7% | 0.4% |
As of the latest ACS Survey released in 2023, Okemos, MI is a predominantly white area, with 59.2% of the population identifying as white. The white population has shrunk by 9.8% in the last 5 years. The second most common race or ethnicity in Okemos, MI is asian, making up 22.4% of the population. Foreign-born residents account for 26.8% of the population in Okemos, MI, and this percentage has increased by 18.1% 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 | 59.2% | -9.8% |
% Black | 5.1% | 34.2% |
% Hispanic | 6.2% | 121.4% |
% Asian | 22.4% | 2.3% |
% Foreign Born | 26.8% | 18.1% |
Mortgage and Risk — Okemos, MI
According to HUD data as of 2023, there were 347 mortgage originations in Okemos, MI, of which 95.0% of loans were conventional mortgages. The average loan-to-value was 61.0%, with 19.0% above 90% LTV (elevated). This implies medium mortgage risk in Okemos, 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 | 347 |
% Conventional Loans | 95.0% |
% Government Loans | 5.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Okemos, MI
As of 2024, the percent of homes in Okemos, MI under the Section 8 program is 1.7%. 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 Okemos, MI, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 141 |
Total Units Section 8 | 52 |
% Rentals under Section 8 | 1.7% |
% Occupied Section 8 | 85.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$390 | $1,460 | $1,070 |
| 2 Bedroom | -$170 | $1,500 | $1,330 |
| 3 Bedroom | -$1,970 | $3,700 | $1,730 |
| 4 Bedroom | -$1,740 | $3,500 | $1,760 |
Affordability — Okemos, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.1 |
| Median Home Price | $388,000 |
| Median Household Income | $113,000 |