Morenci, MI—49256
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Morenci, MI
As of Oct '25, the median home price in Morenci, MI is $166,000, with a year-over-year change of 4.5%. This indicates that home prices in Morenci, MI are increasing. According to Zillow, the 1-year price projection is 1.8%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $166,000 | 4.5% |
| Single Family | $166,000 | 6.4% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $115,000 | 5.5% |
3 Bed | $156,000 | 7.6% |
4 Bed | $171,000 | 5.6% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Morenci, MI
As of July '25, Rentcast reports the average rent in Morenci, MI is $850, with a year-over-year rent change of 23.5%. Per bedroom, the median rent as of July '25 in Morenci, MI is 1-bedrooms: $900, 2-bedrooms: $800. The most common rental property sizes in Morenci, MI are 3-bedroom and 2-bedroom, accounting for 31.5% and 27.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $800 | $850 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $900 | $900 |
| 2 Bed Rent | $800 | $800 |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Morenci, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Morenci, MI is 54. This is a decrease of -4.0% 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 38.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $117,000 | -6.0% |
Listing Count | 16 | -26.0% |
| Listings as % of Homes | 0.8% | -26.0% |
Days on Market | 54 | -4.0% |
Demographics — Morenci, MI
As of the latest ACS Survey released in 2023, Morenci, MI has a population of 3,830, which has decreased by -2.3% over the past 5 years. Morenci, MI is a moderately popular place for families, as children make up 21.6% of the population. The area has a poorly educated workforce, with 11.9% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 2.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 3,830 | -2.3% |
% Under 18 | 21.6% | -17.9% |
% Seniors | 18.1% | 6.5% |
% WFH | 2.7% | 80.0% |
% w/ College Degree | 11.9% | 13.3% |
As of the latest ACS Survey released in 2023, Morenci, MI is a predominantly white area, with 90.2% of the population identifying as white. The white population has shrunk by 1.1% in the last 5 years. The second most common race or ethnicity in Morenci, MI is hispanic, making up 6.5% of the population. Foreign-born residents account for 0.7% of the population in Morenci, MI, and this percentage has decreased by 63.2% 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 | 90.2% | -1.1% |
% Black | 0.1% | -80.0% |
% Hispanic | 6.5% | 51.2% |
% Asian | 0.1% | -80.0% |
% Foreign Born | 0.7% | -63.2% |
Mortgage and Risk — Morenci, MI
According to HUD data as of 2023, there were 68 mortgage originations in Morenci, MI, of which 69.0% of loans were conventional mortgages. The average loan-to-value was 70.0%, with 46.0% above 90% LTV (very high). This implies large mortgage risk in Morenci, MI. Investor activity is low, as 3.0% 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 | 68 |
% Conventional Loans | 69.0% |
% Government Loans | 31.0% |
% Investor Loans | 3.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 15.0% |
Loan Activity
Rentals and Section 8 — Morenci, MI
Morenci, MI lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 5 |
Total Units Section 8 | 5 |
% 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 | -$140 | $900 | $760 |
| 2 Bedroom | $180 | $800 | $980 |
| 3 Bedroom | N/A | N/A | $1,270 |
| 4 Bedroom | N/A | N/A | $1,480 |
Affordability — Morenci, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.4 |
| Median Home Price | $166,000 |
| Median Household Income | $61,000 |