Mendon, MI—49072
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Mendon, MI
As of Oct '25, the median home price in Mendon, MI is $193,000, with a year-over-year change of 2.6%. This indicates that home prices in Mendon, MI are increasing. According to Zillow, the 1-year price projection is 0.6%, 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 | 2.6% |
| Single Family | $193,000 | 2.7% |
| 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 | $214,000 | 3.4% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Mendon, MI
Mendon, 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 — Mendon, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Mendon, MI is 46. This is a increase of 25.0% 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 22.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $274,000 | 13.0% |
Listing Count | 9 | -4.0% |
| Listings as % of Homes | 0.3% | -4.0% |
Days on Market | 46 | 25.0% |
Demographics — Mendon, MI
As of the latest ACS Survey released in 2023, Mendon, MI has a population of 2,880, which has decreased by -6.1% over the past 5 years. Mendon, MI is a moderately popular place for families, as children make up 21.8% of the population. The area has a poorly educated workforce, with 21.2% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 2,880 | -6.1% |
% Under 18 | 21.8% | -9.5% |
% Seniors | 21.1% | 46.5% |
% WFH | 9.7% | 115.6% |
% w/ College Degree | 21.2% | 11.0% |
As of the latest ACS Survey released in 2023, Mendon, MI is a predominantly white area, with 93.1% of the population identifying as white. The white population has shrunk by 1.7% in the last 5 years. The second most common race or ethnicity in Mendon, MI is hispanic, making up 5.0% of the population. Foreign-born residents account for 0.7% of the population in Mendon, MI, and this percentage has decreased by 61.1% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 93.1% | -1.7% |
% Black | 0.4% | -55.6% |
% Hispanic | 5.0% | 100.0% |
% Asian | 0.0% | -100.0% |
% Foreign Born | 0.7% | -61.1% |
Mortgage and Risk — Mendon, MI
According to HUD data as of 2023, there were 61 mortgage originations in Mendon, MI, of which 85.0% of loans were conventional mortgages. The average loan-to-value was 62.0%, with 25.0% above 90% LTV (very high). This implies large mortgage risk in Mendon, MI. Investor activity is low, as 3.0% of loans were by investors. 21.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 61 |
% Conventional Loans | 85.0% |
% Government Loans | 15.0% |
% Investor Loans | 3.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 21.0% |
Loan Activity
Rentals and Section 8 — Mendon, MI
Mendon, MI lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | N/A |
Total Units Section 8 | N/A |
% 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 | N/A | N/A | $800 |
| 2 Bedroom | N/A | N/A | $1,000 |
| 3 Bedroom | N/A | N/A | $1,370 |
| 4 Bedroom | N/A | N/A | $1,480 |
Affordability — Mendon, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.6 |
| Median Home Price | $193,000 |
| Median Household Income | $67,400 |