Grass Lake, MI—49240
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Grass Lake, MI
As of Oct '25, the median home price in Grass Lake, MI is $335,000, with a year-over-year change of 5.7%. This indicates that home prices in Grass Lake, MI are increasing. According to Zillow, the 1-year price projection is 1.4%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $335,000 | 5.7% |
| Single Family | $334,000 | 5.7% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $229,000 | 5.0% |
3 Bed | $336,000 | 6.3% |
4 Bed | $414,000 | 5.9% |
| 5 Bed | $463,000 | 5.0% |
% of Housing Stock
Rental Trends — Grass Lake, MI
As of July '25, Rentcast reports the average rent in Grass Lake, MI is $2,400, with a year-over-year rent change of 31.1%. Per bedroom, the median rent as of July '25 in Grass Lake, MI is 3-bedrooms: $2,400. The most common rental property sizes in Grass Lake, MI are 2-bedroom and 3-bedroom, accounting for 41.4% and 29.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,000 | $2,400 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | $2,000 | $2,400 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Grass Lake, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Grass Lake, MI is 39. This is a decrease of -3.0% 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 35.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $354,000 | -4.0% |
Listing Count | 34 | 13.0% |
| Listings as % of Homes | 0.3% | 13.0% |
Days on Market | 39 | -3.0% |
Demographics — Grass Lake, MI
As of the latest ACS Survey released in 2023, Grass Lake, MI has a population of 9,210, which has decreased by -3.4% over the past 5 years. Grass Lake, MI is a moderately popular place for families, as children make up 20.1% of the population. The area has a moderately educated workforce, with 32.8% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 13.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 9,210 | -3.4% |
% Under 18 | 20.1% | -4.3% |
% Seniors | 20.9% | 42.2% |
% WFH | 13.8% | 557.1% |
% w/ College Degree | 32.8% | 0.9% |
As of the latest ACS Survey released in 2023, Grass Lake, MI is a predominantly white area, with 94.9% of the population identifying as white. The white population has shrunk by 0.9% in the last 5 years. The second most common race or ethnicity in Grass Lake, MI is hispanic, making up 1.5% of the population. Foreign-born residents account for 1.8% of the population in Grass Lake, MI, and this percentage has decreased by 40.0% 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 | 94.9% | -0.9% |
% Black | 0.0% | -100.0% |
% Hispanic | 1.5% | -11.8% |
% Asian | 1.0% | -16.7% |
% Foreign Born | 1.8% | -40.0% |
Mortgage and Risk — Grass Lake, MI
According to HUD data as of 2023, there were 182 mortgage originations in Grass Lake, MI, of which 87.0% of loans were conventional mortgages. The average loan-to-value was 57.0%, with 16.0% above 90% LTV (elevated). This implies medium mortgage risk in Grass Lake, MI. Investor activity is low, as 0.0% of loans were by investors. 16.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 182 |
% Conventional Loans | 87.0% |
% Government Loans | 13.0% |
% Investor Loans | 0.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 16.0% |
Loan Activity
Rentals and Section 8 — Grass Lake, MI
Grass Lake, 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 | $1,120 |
| 2 Bedroom | N/A | N/A | $1,360 |
| 3 Bedroom | -$210 | $2,000 | $1,790 |
| 4 Bedroom | N/A | N/A | $2,000 |
Affordability — Grass Lake, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.1 |
| Median Home Price | $335,000 |
| Median Household Income | $95,300 |