Perry, MI—48872
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Perry, MI
As of Oct '25, the median home price in Perry, MI is $264,000, with a year-over-year change of 3.0%. This indicates that home prices in Perry, 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 | $264,000 | 3.0% |
| Single Family | $264,000 | 3.5% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $176,000 | 4.1% |
3 Bed | $259,000 | 4.4% |
4 Bed | $331,000 | 4.1% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Perry, MI
As of July '25, Rentcast reports the average rent in Perry, MI is $1,080, with a year-over-year rent change of 148.3%. Per bedroom, the median rent as of July '25 in Perry, MI is 1-bedrooms: $600, 2-bedrooms: $944, 4-bedrooms: $2,300. The most common rental property sizes in Perry, MI are 3-bedroom and 1-bedroom, accounting for 40.6% and 27.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $939 | $1,080 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $585 | $600 |
| 2 Bed Rent | $939 | $944 |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | $2,300 | $2,300 |
% of Rental Stock
Property Listings — Perry, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Perry, MI is 35. This is a decrease of -4.0% 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 38.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $280,000 | -1.0% |
Listing Count | 21 | 7.0% |
| Listings as % of Homes | 0.4% | 7.0% |
Days on Market | 35 | -4.0% |
Demographics — Perry, MI
As of the latest ACS Survey released in 2023, Perry, MI has a population of 6,420, which has decreased by -8.7% over the past 5 years. Perry, MI is a moderately popular place for families, as children make up 18.3% of the population. The area has a poorly educated workforce, with 23.1% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 6,420 | -8.7% |
% Under 18 | 18.3% | -19.4% |
% Seniors | 18.7% | 15.4% |
% WFH | 9.0% | 7.1% |
% w/ College Degree | 23.1% | 17.9% |
As of the latest ACS Survey released in 2023, Perry, MI is a predominantly white area, with 94.9% 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 Perry, MI is hispanic, making up 2.2% of the population. Foreign-born residents account for 1.1% of the population in Perry, MI, and this percentage has increased by 57.1% 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 | 94.9% | -0.4% |
% Black | 0.2% | -66.7% |
% Hispanic | 2.2% | -24.1% |
% Asian | 0.3% | ∞% |
% Foreign Born | 1.1% | 57.1% |
Mortgage and Risk — Perry, MI
According to HUD data as of 2023, there were 85 mortgage originations in Perry, MI, of which 81.0% of loans were conventional mortgages. The average loan-to-value was 68.0%, with 38.0% above 90% LTV (very high). This implies large mortgage risk in Perry, MI. Investor activity is low, as 1.0% 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 | 85 |
% Conventional Loans | 81.0% |
% Government Loans | 19.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 13.0% |
Loan Activity
Rentals and Section 8 — Perry, MI
Perry, MI lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 4 |
Total Units Section 8 | 4 |
% Rentals under Section 8 | 0.6% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $455 | $585 | $1,040 |
| 2 Bedroom | $291 | $939 | $1,230 |
| 3 Bedroom | N/A | N/A | $1,680 |
| 4 Bedroom | -$430 | $2,300 | $1,870 |
Affordability — Perry, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.9 |
| Median Home Price | $264,000 |
| Median Household Income | $79,400 |