Buchanan, MI 49107 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Buchanan, MI—49107

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$228,000

0.2% YoY Growth

Household Income

$65,100

34.1% YoY Growth

Days on Market

8.0% Longer YoY

Home Price Forecast

2.8%

Median Rent

$1,400

10.3% YoY Growth

1-Bed Rent

$795

13.1% YoY Growth

2-Bed Rent

$1,400

10.2% YoY Growth

3-Bed Rent

$1,400

7.6% YoY Growth

Home Price Trends — Buchanan, MI

As of Dec '25, the median home price in Buchanan, MI is $228,000, with a year-over-year change of 0.2%. This indicates that home prices in Buchanan, MI are flat. According to Zillow, the 1-year price projection is 2.8%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$228,000	0.2%
Single Family	$224,000	0.4%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Buchanan, MI

As of July '25, Rentcast reports the average rent in Buchanan, MI is $1,310, with a year-over-year rent change of -10.3%. Per bedroom, the median rent as of July '25 in Buchanan, MI is 1-bedrooms: $780, 2-bedrooms: $1,400, 3-bedrooms: $1,450, 4-bedrooms: $1,850. The most common rental property sizes in Buchanan, MI are 1-bedroom and 2-bedroom, accounting for 37.2% and 30.2% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$1,400	$1,310
Studio Rent	N/A	N/A
1 Bed Rent	$795	$780
2 Bed Rent	$1,400	$1,400
3 Bed Rent	$1,400	$1,450
4 Bed Rent	$1,300	$1,850

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% of Rental Stock

Studio

0.5%

1 Bedroom

37.2%

2 Bedrooms

30.2%

3 Bedrooms

22.3%

4 Bedrooms

9.9%

Property Listings — Buchanan, MI

As of Dec '25, Realtor.com reports that the median days on market for a home in Buchanan, MI is 61. This is a increase of 19.0% 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	$379,000	23.0%
Listing Count	33	6.0%
Listings as % of Homes	0.4%	6.0%
Days on Market	71	8.0%

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Demographics — Buchanan, MI

As of the latest ACS Survey released in 2023, Buchanan, MI has a population of 10,400, which has remained stable by 0.1% over the past 5 years. Buchanan, MI is a moderately popular place for families, as children make up 19.5% of the population. The area has a poorly educated workforce, with 20.7% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 11.3% reporting working from home.

Metric	Latest Census	YoY % Change
Population	10,400	0.1%
% Under 18	19.5%	-15.9%
% Seniors	22.3%	26.7%
% WFH	11.3%	197.4%
% w/ College Degree	20.7%	14.4%

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As of the latest ACS Survey released in 2023, Buchanan, MI is a predominantly white area, with 86.1% of the population identifying as white. The white population has grown by 2.3% in the last 5 years. The second most common race or ethnicity in Buchanan, MI is hispanic, making up 3.4% of the population. Foreign-born residents account for 1.7% of the population in Buchanan, MI, and this percentage has increased by 13.3% 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	86.1%	2.3%
% Black	2.2%	-74.1%
% Hispanic	3.4%	21.4%
% Asian	0.3%	200.0%
% Foreign Born	1.7%	13.3%

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Mortgage and Risk — Buchanan, MI

According to HUD data as of 2023, there were 231 mortgage originations in Buchanan, MI, of which 86.0% of loans were conventional mortgages. The average loan-to-value was 59.0%, with 21.0% above 90% LTV (very high). This implies large mortgage risk in Buchanan, 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	231
% Conventional Loans	86.0%
% Government Loans	14.0%
% Investor Loans	0.0%
% Second Loans	5.0%
% Cash Out Refinance	15.0%

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Rentals and Section 8 — Buchanan, MI

As of 2024, the percent of homes in Buchanan, MI under the Section 8 program is 15.0%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Buchanan, MI, because HUD payments exceed market rent, while 1-bedroom and 2-bedroom and 3-bedroom units do not.

Section 8 Market Size

Total Units under HUD	135
Total Units Section 8	135
% Rentals under Section 8	15.0%
% Occupied Section 8	94.1%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	-$25	$795	$770
2 Bedroom	-$390	$1,400	$1,010
3 Bedroom	-$100	$1,400	$1,300
4 Bedroom	$40	$1,300	$1,340

Buchanan, MI—49107

Key Metrics at a Glance

Home Price Trends — Buchanan, MI

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Buchanan, MI

% of Rental Stock

Property Listings — Buchanan, MI

Demographics — Buchanan, MI

Race and Ethnicity

Mortgage and Risk — Buchanan, MI

Mortgages

Rentals and Section 8 — Buchanan, MI

Section 8 Market Size

Section 8 Opportunity

Affordability — Buchanan, MI

Home Price to Income Ratio

Buchanan, MI — ZIP Code Boundary Map

Nearby ZIP Codes

Galien, MI

Oronoko, MI

Baroda, MI

Berrien Springs

New Troy

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	3.3
Median Home Price	$228,000
Median Household Income	$65,100

Buchanan, MI—49107

Key Metrics at a Glance

Home Price Trends — Buchanan, MI

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Buchanan, MI

% of Rental Stock

Property Listings — Buchanan, MI

Demographics — Buchanan, MI

Race and Ethnicity

Mortgage and Risk — Buchanan, MI

Mortgages

Rentals and Section 8 — Buchanan, MI

Section 8 Market Size

Section 8 Opportunity

Affordability — Buchanan, MI

Home Price to Income Ratio

Buchanan, MI — ZIP Code Boundary Map

Nearby ZIP Codes

Galien, MI

Oronoko, MI

Baroda, MI

Berrien Springs

New Troy

Frequently Asked Questions

What is the average home price in Buchanan, MI 49107?

How have home prices in Buchanan, MI 49107 changed over the past year?

What is the home price projection for Buchanan, MI 49107?

What are the demographics of Buchanan, MI 49107?

How long does it take homes to sell in Buchanan, MI 49107?

What is the average rent price in Buchanan, MI 49107?