Hillsdale, MI—49242
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Hillsdale, MI
As of Oct '25, the median home price in Hillsdale, MI is $191,000, with a year-over-year change of 5.0%. This indicates that home prices in Hillsdale, MI are increasing. According to Zillow, the 1-year price projection is 1.2%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $191,000 | 5.0% |
| Single Family | $190,000 | 6.1% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $152,000 | 5.6% |
3 Bed | $208,000 | 6.1% |
4 Bed | $241,000 | 5.7% |
| 5 Bed | $275,000 | 5.8% |
% of Housing Stock
Rental Trends — Hillsdale, MI
As of July '25, Rentcast reports the average rent in Hillsdale, MI is $1,170, with a year-over-year rent change of -39.1%. Per bedroom, the median rent as of July '25 in Hillsdale, MI is 3-bedrooms: $1,170. The most common rental property sizes in Hillsdale, MI are 2-bedroom and 1-bedroom, accounting for 35.5% and 28.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,200 | $1,170 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | $1,200 | $1,170 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Hillsdale, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Hillsdale, MI is 58. This is a increase of 25.0% 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 24.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $277,000 | 16.0% |
Listing Count | 66 | 26.0% |
| Listings as % of Homes | 0.4% | 26.0% |
Days on Market | 58 | 25.0% |
Demographics — Hillsdale, MI
As of the latest ACS Survey released in 2023, Hillsdale, MI has a population of 14,800, which has decreased by -1.2% over the past 5 years. Hillsdale, MI is a moderately popular place for families, as children make up 19.4% of the population. The area has a moderately educated workforce, with 25.2% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 14,800 | -1.2% |
% Under 18 | 19.4% | -7.2% |
% Seniors | 18.5% | 0.0% |
% WFH | 7.5% | 21.0% |
% w/ College Degree | 25.2% | 15.6% |
As of the latest ACS Survey released in 2023, Hillsdale, MI is a predominantly white area, with 89.5% of the population identifying as white. The white population has shrunk by 4.7% in the last 5 years. The second most common race or ethnicity in Hillsdale, MI is hispanic, making up 3.6% of the population. Foreign-born residents account for 2.1% of the population in Hillsdale, MI, and this percentage has increased by 50.0% 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 | 89.5% | -4.7% |
% Black | 1.3% | 18.2% |
% Hispanic | 3.6% | 24.1% |
% Asian | 0.3% | -57.1% |
% Foreign Born | 2.1% | 50.0% |
Mortgage and Risk — Hillsdale, MI
According to HUD data as of 2023, there were 188 mortgage originations in Hillsdale, MI, of which 78.0% of loans were conventional mortgages. The average loan-to-value was 68.0%, with 25.0% above 90% LTV (very high). This implies large mortgage risk in Hillsdale, MI. Investor activity is low, as 4.0% 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 | 188 |
% Conventional Loans | 78.0% |
% Government Loans | 22.0% |
% Investor Loans | 4.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 15.0% |
Loan Activity
Rentals and Section 8 — Hillsdale, MI
Hillsdale, MI lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 360 |
Total Units Section 8 | 300 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 91.2% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $710 |
| 2 Bedroom | N/A | N/A | $930 |
| 3 Bedroom | -$10 | $1,200 | $1,190 |
| 4 Bedroom | N/A | N/A | $1,240 |
Affordability — Hillsdale, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.9 |
| Median Home Price | $191,000 |
| Median Household Income | $57,800 |