Ovid, MI—48866
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Ovid, MI
As of Oct '25, the median home price in Ovid, MI is $183,000, with a year-over-year change of 0.6%. This indicates that home prices in Ovid, MI are flat. 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 | $183,000 | 0.6% |
| Single Family | $184,000 | 1.1% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $144,000 | 3.6% |
3 Bed | $215,000 | 1.9% |
4 Bed | $208,000 | 1.0% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Ovid, MI
As of July '25, Rentcast reports the average rent in Ovid, MI is $835, with a year-over-year rent change of -14.4%. Per bedroom, the median rent as of July '25 in Ovid, MI is 2-bedrooms: $835. The most common rental property sizes in Ovid, MI are 2-bedroom and 3-bedroom, accounting for 50.9% and 34.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $670 | $835 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $670 | $835 |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Ovid, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Ovid, MI is 43. This is a decrease of -23.0% 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 18.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $211,000 | -5.0% |
Listing Count | 11 | 33.0% |
| Listings as % of Homes | 0.4% | 33.0% |
Days on Market | 43 | -23.0% |
Demographics — Ovid, MI
As of the latest ACS Survey released in 2023, Ovid, MI has a population of 4,380, which has decreased by -13.0% over the past 5 years. Ovid, MI is a moderately popular place for families, as children make up 23.5% of the population. The area has a poorly educated workforce, with 11.6% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 4,380 | -13.0% |
% Under 18 | 23.5% | 7.8% |
% Seniors | 17.6% | 7.3% |
% WFH | 12.8% | 116.9% |
% w/ College Degree | 11.6% | -17.1% |
As of the latest ACS Survey released in 2023, Ovid, MI is a predominantly white area, with 90.8% of the population identifying as white. The white population has shrunk by 2.9% in the last 5 years. The second most common race or ethnicity in Ovid, MI is hispanic, making up 3.8% of the population. Foreign-born residents account for 1.1% of the population in Ovid, MI, and this percentage has increased by 83.3% 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 | 90.8% | -2.9% |
% Black | 0.3% | -50.0% |
% Hispanic | 3.8% | -15.6% |
% Asian | 0.1% | -85.7% |
% Foreign Born | 1.1% | 83.3% |
Mortgage and Risk — Ovid, MI
According to HUD data as of 2023, there were 116 mortgage originations in Ovid, MI, of which 82.0% of loans were conventional mortgages. The average loan-to-value was 66.0%, with 31.0% above 90% LTV (very high). This implies large mortgage risk in Ovid, MI. Investor activity is low, as 1.0% of loans were by investors. 20.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 116 |
% Conventional Loans | 82.0% |
% Government Loans | 18.0% |
% Investor Loans | 1.0% |
% Second Loans | 3.0% |
% Cash Out Refinance | 20.0% |
Loan Activity
Rentals and Section 8 — Ovid, MI
Ovid, MI lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 7 |
Total Units Section 8 | 7 |
% Rentals under Section 8 | 2.5% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $800 |
| 2 Bedroom | $320 | $670 | $990 |
| 3 Bedroom | N/A | N/A | $1,290 |
| 4 Bedroom | N/A | N/A | $1,310 |
Affordability — Ovid, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.7 |
| Median Home Price | $183,000 |
| Median Household Income | $64,100 |