Covert, MI—49043
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Covert, MI
Covert, MI lacks sufficient home price data for analysis.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $208,000 | -3.2% |
| Single Family | $207,000 | -3.7% |
| 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 | N/A | N/A |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Covert, MI
Covert, MI lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | N/A | N/A |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 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 — Covert, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Covert, MI is 69. This is a increase of 3.0% 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 | $460,000 | -21.0% |
Listing Count | 7 | -24.0% |
| Listings as % of Homes | 0.5% | -24.0% |
Days on Market | 69 | 3.0% |
Demographics — Covert, MI
As of the latest ACS Survey released in 2023, Covert, MI has a population of 2,260, which has increased by 8.4% over the past 5 years. Covert, MI is a moderately popular place for families, as children make up 23.4% of the population. The area has a poorly educated workforce, with 11.9% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 4.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 2,260 | 8.4% |
% Under 18 | 23.4% | 5.9% |
% Seniors | 21.2% | 8.2% |
% WFH | 4.8% | 77.8% |
% w/ College Degree | 11.9% | 20.2% |
As of the latest ACS Survey released in 2023, Covert, MI is a predominantly white area, with 35.9% of the population identifying as white. The white population has shrunk by 10.3% in the last 5 years. The second most common race or ethnicity in Covert, MI is hispanic, making up 32.4% of the population. Foreign-born residents account for 16.4% of the population in Covert, MI, and this percentage has increased by 17.1% 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 | 35.9% | -10.3% |
% Black | 27.2% | 3.0% |
% Hispanic | 32.4% | 9.1% |
% Asian | 0.0% | -100.0% |
% Foreign Born | 16.4% | 17.1% |
Mortgage and Risk — Covert, MI
According to HUD data as of 2023, there were 23 mortgage originations in Covert, MI, of which 96.0% of loans were conventional mortgages. The average loan-to-value was 55.0%, with 13.0% above 90% LTV (elevated). This implies medium mortgage risk in Covert, MI. Investor activity is low, as 0.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 23 |
% Conventional Loans | 96.0% |
% Government Loans | 4.0% |
% Investor Loans | 0.0% |
% Second Loans | 17.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Covert, MI
Covert, MI lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 42 |
Total Units Section 8 | 2 |
% Rentals under Section 8 | 0.5% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $730 |
| 2 Bedroom | N/A | N/A | $970 |
| 3 Bedroom | N/A | N/A | $1,240 |
| 4 Bedroom | N/A | N/A | $1,300 |
Affordability — Covert, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.7 |
| Median Home Price | $208,000 |
| Median Household Income | $35,500 |