Three Oaks, MI—49128
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Three Oaks, MI
As of Oct '25, the median home price in Three Oaks, MI is $331,000, with a year-over-year change of 1.5%. This indicates that home prices in Three Oaks, MI are increasing. According to Zillow, the 1-year price projection is 2.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $331,000 | 1.5% |
| Single Family | $331,000 | 2.8% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $285,000 | 2.2% |
3 Bed | $350,000 | 2.3% |
4 Bed | $488,000 | 2.7% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Three Oaks, MI
As of July '25, Rentcast reports the average rent in Three Oaks, MI is $1,520, with a year-over-year rent change of -33.3%. Per bedroom, the median rent as of July '25 in Three Oaks, MI is 2-bedrooms: $1,240, 3-bedrooms: $1,590. The most common rental property sizes in Three Oaks, MI are 2-bedroom and 3-bedroom, accounting for 52.2% and 27.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,590 | $1,520 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $1,240 | $1,240 |
| 3 Bed Rent | $1,590 | $1,590 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Three Oaks, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Three Oaks, MI is 52. This is a decrease of -20.0% 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 34.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $359,000 | 9.0% |
Listing Count | 29 | 21.0% |
| Listings as % of Homes | 0.8% | 21.0% |
Days on Market | 52 | -20.0% |
Demographics — Three Oaks, MI
As of the latest ACS Survey released in 2023, Three Oaks, MI has a population of 3,460, which has increased by 2.7% over the past 5 years. Three Oaks, MI is a moderately popular place for families, as children make up 19.8% of the population. The area has a poorly educated workforce, with 24.2% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 3,460 | 2.7% |
% Under 18 | 19.8% | 8.2% |
% Seniors | 24.6% | 18.3% |
% WFH | 8.9% | 178.1% |
% w/ College Degree | 24.2% | 17.5% |
As of the latest ACS Survey released in 2023, Three Oaks, MI is a predominantly white area, with 83.7% of the population identifying as white. The white population has shrunk by 11.9% in the last 5 years. The second most common race or ethnicity in Three Oaks, MI is hispanic, making up 11.1% of the population. Foreign-born residents account for 3.4% of the population in Three Oaks, MI, and this percentage has increased by 54.5% 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 | 83.7% | -11.9% |
% Black | 0.3% | -40.0% |
% Hispanic | 11.1% | 296.4% |
% Asian | 0.5% | 25.0% |
% Foreign Born | 3.4% | 54.5% |
Mortgage and Risk — Three Oaks, MI
According to HUD data as of 2023, there were 50 mortgage originations in Three Oaks, MI, of which 88.0% of loans were conventional mortgages. The average loan-to-value was 47.0%, with 14.0% above 90% LTV (elevated). This implies medium mortgage risk in Three Oaks, MI. Investor activity is low, as 4.0% of loans were by investors. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 50 |
% Conventional Loans | 88.0% |
% Government Loans | 12.0% |
% Investor Loans | 4.0% |
% Second Loans | 16.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — Three Oaks, MI
Three Oaks, MI lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 1 |
Total Units Section 8 | 1 |
% Rentals under Section 8 | 0.4% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $920 |
| 2 Bedroom | -$30 | $1,240 | $1,210 |
| 3 Bedroom | -$30 | $1,590 | $1,560 |
| 4 Bedroom | N/A | N/A | $1,600 |
Affordability — Three Oaks, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.1 |
| Median Home Price | $331,000 |
| Median Household Income | $73,000 |