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Perry, MI—48872

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$275,000
3.4% YoY Growth
Household Income
$79,400
12.8% YoY Growth
Days on Market
20
40.0% Shorter YoY
Home Price Forecast
0.4%
Median Rent
$939
148.3% YoY Growth
1-Bed Rent
$585
37.9% YoY Growth
2-Bed Rent
$939
N/A
3-Bed Rent
N/A
N/A
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Perry, MI

As of May '26, the median home price in Perry, MI is $275,000, with a year-over-year change of 3.4%. This indicates that home prices in Perry, MI are increasing. According to Zillow, the 1-year price projection is 0.4%, suggesting a relatively flat housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$275,0003.4%
Single Family $276,0003.0%
Condos N/AN/A

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed
  • Affordability
  • Rentals and Section 8
    • N/A
    N/A
    2 Bed
    		$188,0003.9%
    3 Bed
    		$270,0003.4%
    4 Bed
    		$342,0003.0%
    5 Bed N/AN/A
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    % of Housing Stock

    Studio
    1.6%
    1 Bedroom
    6.3%
    2 Bedrooms
    10.8%
    3 Bedrooms
    60.5%
    4 Bedrooms
    18.4%
    5+ Bedrooms
    2.3%

    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.

    TypeMedian RentAverage Rent
    Average Rent$939$1,080
    Studio Rent N/AN/A
    1 Bed Rent $585$600
    2 Bed Rent $939$944
    3 Bed Rent N/AN/A
    4 Bed Rent $2,300$2,300
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    % of Rental Stock

    1 Bedroom
    27.8%
    2 Bedrooms
    25.3%
    3 Bedrooms
    40.6%
    4 Bedrooms
    6.3%

    Property Listings — Perry, MI

    As of May '26, Realtor.com reports that the median days on market for a home in Perry, MI is 20. This is a decrease of -40.0% 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 22.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$350,00016.0%
    Listing Count
    		18-24.0%
    Listings as % of Homes0.4%-24.0%
    Days on Market
    		20-40.0%
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    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.

    MetricLatest CensusYoY % 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%
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    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

    MetricLatest Census5-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%
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    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

    MetricZip 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%
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    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 SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom$455$585$1,040
    2 Bedroom$291$939$1,230
    3 BedroomN/AN/A$1,680
    4 Bedroom-$430$2,300$1,870

    Affordability — Perry, MI

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio2.9
    Median Home Price$275,000
    Median Household Income$79,400

    Perry, MI — ZIP Code Boundary Map

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    Nearby ZIP Codes

    Morrice, MI

    48857

    Williamston, MI

    48895

    Bancroft, MI

    48414

    Haslett, MI

    48840

    Laingsburg, MI

    48848

    Frequently Asked Questions