Colon, MI—49040
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Colon, MI
As of Oct '25, the median home price in Colon, MI is $193,000, with a year-over-year change of 3.1%. This indicates that home prices in Colon, MI are increasing. According to Zillow, the 1-year price projection is 0.5%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $193,000 | 3.1% |
| Single Family | $193,000 | 3.8% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | $226,000 | 3.7% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Colon, MI
Colon, MI lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $740 | $740 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $740 | $740 |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Colon, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Colon, MI is 147. This is a increase of 183.0% 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 0.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $356,000 | 34.0% |
Listing Count | 10 | -30.0% |
| Listings as % of Homes | 0.5% | -30.0% |
Days on Market | 147 | 183.0% |
Demographics — Colon, MI
As of the latest ACS Survey released in 2023, Colon, MI has a population of 3,340, which has increased by 2.9% over the past 5 years. Colon, MI is a moderately popular place for families, as children make up 19.2% of the population. The area has a poorly educated workforce, with 13.9% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 3,340 | 2.9% |
% Under 18 | 19.2% | -23.5% |
% Seniors | 22.1% | -2.2% |
% WFH | 7.2% | 100.0% |
% w/ College Degree | 13.9% | -39.8% |
As of the latest ACS Survey released in 2023, Colon, MI is a predominantly white area, with 94.6% of the population identifying as white. The white population has shrunk by 4.3% in the last 5 years. The second most common race or ethnicity in Colon, MI is black, making up 0.3% of the population. Foreign-born residents account for 0.4% of the population in Colon, MI, and this percentage has increased by 100.0% 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 | 94.6% | -4.3% |
% Black | 0.3% | ∞% |
% Hispanic | 0.2% | -33.3% |
% Asian | 0.1% | -50.0% |
% Foreign Born | 0.4% | 100.0% |
Mortgage and Risk — Colon, MI
According to HUD data as of 2023, there were 67 mortgage originations in Colon, MI, of which 87.0% of loans were conventional mortgages. The average loan-to-value was 64.0%, with 18.0% above 90% LTV (elevated). This implies medium mortgage risk in Colon, MI. Investor activity is low, as 0.0% of loans were by investors. 15.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 67 |
% Conventional Loans | 87.0% |
% Government Loans | 13.0% |
% Investor Loans | 0.0% |
% Second Loans | 15.0% |
% Cash Out Refinance | 15.0% |
Loan Activity
Rentals and Section 8 — Colon, MI
Colon, 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 | N/A |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$20 | $740 | $720 |
| 2 Bedroom | N/A | N/A | $930 |
| 3 Bedroom | N/A | N/A | $1,280 |
| 4 Bedroom | N/A | N/A | $1,370 |
Affordability — Colon, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3 |
| Median Home Price | $193,000 |
| Median Household Income | $58,700 |