Schoolcraft, MI—49087
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Schoolcraft, MI
As of Oct '25, the median home price in Schoolcraft, MI is $338,000, with a year-over-year change of 1.6%. This indicates that home prices in Schoolcraft, MI are increasing. According to Zillow, the 1-year price projection is 0.9%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $338,000 | 1.6% |
| Single Family | $338,000 | 1.2% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $184,000 | 2.8% |
3 Bed | $299,000 | 2.0% |
4 Bed | $398,000 | 1.8% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Schoolcraft, MI
Schoolcraft, MI lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,800 | $2,800 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | $2,800 | $2,800 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Schoolcraft, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Schoolcraft, MI is 41. This is a decrease of -29.0% 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 27.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $468,000 | -2.0% |
Listing Count | 22 | 49.0% |
| Listings as % of Homes | 0.4% | 49.0% |
Days on Market | 41 | -29.0% |
Demographics — Schoolcraft, MI
As of the latest ACS Survey released in 2023, Schoolcraft, MI has a population of 6,070, which has decreased by -4.2% over the past 5 years. Schoolcraft, MI is a moderately popular place for families, as children make up 23.3% of the population. The area has a moderately educated workforce, with 42.7% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 6,070 | -4.2% |
% Under 18 | 23.3% | 0.0% |
% Seniors | 21.5% | 54.7% |
% WFH | 9.2% | 104.4% |
% w/ College Degree | 42.7% | 23.8% |
As of the latest ACS Survey released in 2023, Schoolcraft, MI is a predominantly white area, with 93.9% of the population identifying as white. The white population has shrunk by 0.2% in the last 5 years. The second most common race or ethnicity in Schoolcraft, MI is hispanic, making up 1.3% of the population. Foreign-born residents account for 1.8% of the population in Schoolcraft, MI, and this percentage has increased by 200.0% 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 | 93.9% | -0.2% |
% Black | 0.3% | 0.0% |
% Hispanic | 1.3% | -7.1% |
% Asian | 1.2% | 200.0% |
% Foreign Born | 1.8% | 200.0% |
Mortgage and Risk — Schoolcraft, MI
According to HUD data as of 2023, there were 149 mortgage originations in Schoolcraft, MI, of which 92.0% of loans were conventional mortgages. The average loan-to-value was 50.0%, with 17.0% above 90% LTV (elevated). This implies medium mortgage risk in Schoolcraft, MI. Investor activity is low, as 1.0% 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 | 149 |
% Conventional Loans | 92.0% |
% Government Loans | 8.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Schoolcraft, MI
Schoolcraft, MI lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 35 |
Total Units Section 8 | 35 |
% Rentals under Section 8 | 15.6% |
% Occupied Section 8 | 96.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $900 |
| 2 Bedroom | N/A | N/A | $1,070 |
| 3 Bedroom | -$1,380 | $2,800 | $1,420 |
| 4 Bedroom | N/A | N/A | $1,510 |
Affordability — Schoolcraft, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.2 |
| Median Home Price | $338,000 |
| Median Household Income | $94,600 |