Litchfield, MI—49252
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Litchfield, MI
As of Oct '25, the median home price in Litchfield, MI is $177,000, with a year-over-year change of 2.6%. This indicates that home prices in Litchfield, MI are increasing. According to Zillow, the 1-year price projection is 0.9%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $177,000 | 2.6% |
| Single Family | $177,000 | 4.1% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | $208,000 | 5.1% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Litchfield, MI
Litchfield, MI lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | N/A | N/A |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Litchfield, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Litchfield, MI is 66. This is a increase of 44.0% 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 33.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $185,000 | 5.0% |
Listing Count | 6 | 50.0% |
| Listings as % of Homes | 0.4% | 50.0% |
Days on Market | 66 | 44.0% |
Demographics — Litchfield, MI
As of the latest ACS Survey released in 2023, Litchfield, MI has a population of 2,480, which has increased by 1.6% over the past 5 years. Litchfield, MI is a moderately popular place for families, as children make up 21.0% of the population. The area has a poorly educated workforce, with 14.3% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 2,480 | 1.6% |
% Under 18 | 21.0% | -12.5% |
% Seniors | 18.7% | -3.1% |
% WFH | 6.0% | 30.4% |
% w/ College Degree | 14.3% | 49.0% |
As of the latest ACS Survey released in 2023, Litchfield, MI is a predominantly white area, with 95.4% of the population identifying as white. The white population has grown by 0.4% in the last 5 years. The second most common race or ethnicity in Litchfield, MI is black, making up 0.5% of the population. Foreign-born residents account for 0.7% of the population in Litchfield, MI, and this percentage has increased by 40.0% 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 | 95.4% | 0.4% |
% Black | 0.5% | -16.7% |
% Hispanic | 0.2% | -88.2% |
% Asian | 0.4% | ∞% |
% Foreign Born | 0.7% | 40.0% |
Mortgage and Risk — Litchfield, MI
According to HUD data as of 2023, there were 35 mortgage originations in Litchfield, MI, of which 66.0% of loans were conventional mortgages. The average loan-to-value was 72.0%, with 43.0% above 90% LTV (very high). This implies large mortgage risk in Litchfield, MI. Investor activity is low, as 6.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 35 |
% Conventional Loans | 66.0% |
% Government Loans | 34.0% |
% Investor Loans | 6.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Litchfield, MI
Litchfield, MI lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 49 |
Total Units Section 8 | 49 |
% Rentals under Section 8 | 23.1% |
% Occupied Section 8 | 98.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $800 |
| 2 Bedroom | N/A | N/A | $970 |
| 3 Bedroom | N/A | N/A | $1,280 |
| 4 Bedroom | N/A | N/A | $1,460 |
Affordability — Litchfield, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3 |
| Median Home Price | $177,000 |
| Median Household Income | $52,600 |