Big Rapids, MI—49307
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Big Rapids, MI
As of Oct '25, the median home price in Big Rapids, MI is $218,000, with a year-over-year change of 1.4%. This indicates that home prices in Big Rapids, MI are increasing. According to Zillow, the 1-year price projection is 1.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $218,000 | 1.4% |
| Single Family | $218,000 | 2.3% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $158,000 | 0.0% |
3 Bed | $219,000 | 2.8% |
4 Bed | $252,000 | 2.9% |
| 5 Bed | $286,000 | 3.6% |
% of Housing Stock
Rental Trends — Big Rapids, MI
As of July '25, Rentcast reports the average rent in Big Rapids, MI is $1,110, with a year-over-year rent change of -9.0%. Per bedroom, the median rent as of July '25 in Big Rapids, MI is studios: $845, 1-bedrooms: $671, 2-bedrooms: $1,060, 3-bedrooms: $1,320, 4-bedrooms: $1,740. The most common rental property sizes in Big Rapids, MI are 2-bedroom and 3-bedroom, accounting for 32.7% and 20.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $895 | $1,110 |
| Studio Rent | $845 | $845 |
| 1 Bed Rent | $635 | $671 |
| 2 Bed Rent | $697 | $1,060 |
| 3 Bed Rent | $1,400 | $1,320 |
| 4 Bed Rent | $1,700 | $1,740 |
% of Rental Stock
Property Listings — Big Rapids, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Big Rapids, MI is 50. This is a decrease of -7.0% 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 36.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $299,000 | 11.0% |
Listing Count | 72 | -3.0% |
| Listings as % of Homes | 0.4% | -3.0% |
Days on Market | 50 | -7.0% |
Demographics — Big Rapids, MI
As of the latest ACS Survey released in 2023, Big Rapids, MI has a population of 18,100, which has decreased by -13.0% over the past 5 years. Big Rapids, MI is a moderately popular place for families, as children make up 16.9% of the population. The area has a moderately educated workforce, with 30.8% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 18,100 | -13.0% |
% Under 18 | 16.9% | -1.2% |
% Seniors | 14.3% | 21.2% |
% WFH | 6.6% | 10.0% |
% w/ College Degree | 30.8% | 4.8% |
As of the latest ACS Survey released in 2023, Big Rapids, MI is a predominantly white area, with 87.0% of the population identifying as white. The white population has shrunk by 2.1% in the last 5 years. The second most common race or ethnicity in Big Rapids, MI is black, making up 4.0% of the population. Foreign-born residents account for 2.1% of the population in Big Rapids, MI, and this percentage has decreased by 30.0% 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 | 87.0% | -2.1% |
% Black | 4.0% | -11.1% |
% Hispanic | 3.1% | 24.0% |
% Asian | 1.5% | 7.1% |
% Foreign Born | 2.1% | -30.0% |
Mortgage and Risk — Big Rapids, MI
According to HUD data as of 2023, there were 356 mortgage originations in Big Rapids, MI, of which 78.0% of loans were conventional mortgages. The average loan-to-value was 67.0%, with 31.0% above 90% LTV (very high). This implies large mortgage risk in Big Rapids, MI. Investor activity is low, as 3.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 356 |
% Conventional Loans | 78.0% |
% Government Loans | 22.0% |
% Investor Loans | 3.0% |
% Second Loans | 3.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Big Rapids, MI
Big Rapids, MI lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 519 |
Total Units Section 8 | 214 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 82.2% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $125 | $635 | $760 |
| 2 Bedroom | $243 | $697 | $940 |
| 3 Bedroom | -$200 | $1,400 | $1,200 |
| 4 Bedroom | -$370 | $1,700 | $1,330 |
Affordability — Big Rapids, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.6 |
| Median Home Price | $218,000 |
| Median Household Income | $54,800 |