New Buffalo, MI—49117
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — New Buffalo, MI
As of Oct '25, the median home price in New Buffalo, MI is $633,000, with a year-over-year change of 4.7%. This indicates that home prices in New Buffalo, MI are increasing. According to Zillow, the 1-year price projection is 2.4%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $633,000 | 4.7% |
| Single Family | $642,000 | 5.2% |
| Condos | $611,000 | 3.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $467,000 | 1.1% |
2 Bed | $541,000 | 3.4% |
3 Bed | $629,000 | 4.8% |
4 Bed | $860,000 | 4.1% |
| 5 Bed | $1,445,000 | 6.4% |
% of Housing Stock
Rental Trends — New Buffalo, MI
As of July '25, Rentcast reports the average rent in New Buffalo, MI is $2,300, with a year-over-year rent change of -6.9%. Per bedroom, the median rent as of July '25 in New Buffalo, MI is 3-bedrooms: $2,300. The most common rental property sizes in New Buffalo, MI are 1-bedroom and 2-bedroom, accounting for 42.5% and 28.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,300 | $2,300 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | $2,300 | $2,300 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — New Buffalo, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in New Buffalo, MI is 58. This is a increase of 7.0% 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 16.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $894,000 | 16.0% |
Listing Count | 77 | 11.0% |
| Listings as % of Homes | 1.1% | 11.0% |
Days on Market | 58 | 7.0% |
Demographics — New Buffalo, MI
As of the latest ACS Survey released in 2023, New Buffalo, MI has a population of 3,510, which has decreased by -2.6% over the past 5 years. New Buffalo, MI is a less popular place for families, as children make up 12.8% of the population. The area has a highly educated workforce, with 45.6% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 19.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 3,510 | -2.6% |
% Under 18 | 12.8% | -22.9% |
% Seniors | 35.2% | 23.5% |
% WFH | 19.8% | 164.0% |
% w/ College Degree | 45.6% | 4.3% |
As of the latest ACS Survey released in 2023, New Buffalo, MI is a predominantly white area, with 89.0% of the population identifying as white. The white population has shrunk by 0.4% in the last 5 years. The second most common race or ethnicity in New Buffalo, MI is hispanic, making up 5.8% of the population. Foreign-born residents account for 5.1% of the population in New Buffalo, MI, and this percentage has decreased by 34.6% 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 | 89.0% | -0.4% |
% Black | 0.3% | -72.7% |
% Hispanic | 5.8% | -10.8% |
% Asian | 2.8% | 7.7% |
% Foreign Born | 5.1% | -34.6% |
Mortgage and Risk — New Buffalo, MI
According to HUD data as of 2023, there were 156 mortgage originations in New Buffalo, MI, of which 96.0% of loans were conventional mortgages. The average loan-to-value was 52.0%, with 7.0% above 90% LTV (normal). This implies small mortgage risk in New Buffalo, MI. Investor activity is low, as 5.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 156 |
% Conventional Loans | 96.0% |
% Government Loans | 4.0% |
% Investor Loans | 5.0% |
% Second Loans | 46.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — New Buffalo, MI
New Buffalo, 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 | $730 |
| 2 Bedroom | N/A | N/A | $960 |
| 3 Bedroom | -$1,070 | $2,300 | $1,230 |
| 4 Bedroom | N/A | N/A | $1,290 |
Affordability — New Buffalo, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 7.7 |
| Median Home Price | $633,000 |
| Median Household Income | $75,300 |