Gaines, MI—49316
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Gaines, MI
Home Price Trends — Gaines, MI
As of Oct '25, the median home price in Gaines, MI is $423,000, with a year-over-year change of 4.3%. This indicates that home prices in Gaines, MI are increasing. According to Zillow, the 1-year price projection is 2.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $423,000 | 4.3% |
| Single Family | $446,000 | 4.4% |
| Condos | $356,000 | 5.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $276,000 | 5.7% |
2 Bed | $307,000 | 4.1% |
3 Bed | $397,000 | 4.7% |
4 Bed | $466,000 | 4.0% |
| 5 Bed | $574,000 | 4.7% |
% of Housing Stock
Rental Trends — Gaines, MI
As of July '25, Rentcast reports the average rent in Gaines, MI is $2,400, with a year-over-year rent change of -1.2%. Per bedroom, the median rent as of July '25 in Gaines, MI is 1-bedrooms: $1,750, 2-bedrooms: $2,140, 3-bedrooms: $2,600, 4-bedrooms: $2,700. The most common rental property sizes in Gaines, MI are 1-bedroom and 3-bedroom, accounting for 43.3% and 34.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,420 | $2,400 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,750 | $1,750 |
| 2 Bed Rent | $2,180 | $2,140 |
| 3 Bed Rent | $2,500 | $2,600 |
| 4 Bed Rent | $2,650 | $2,700 |
% of Rental Stock
Property Listings — Gaines, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Gaines, MI is 45. This is a increase of 19.0% 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 25.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $510,000 | 12.0% |
Listing Count | 87 | 8.0% |
| Listings as % of Homes | 0.7% | 8.0% |
Days on Market | 45 | 19.0% |
Demographics — Gaines, MI
As of the latest ACS Survey released in 2023, Gaines, MI has a population of 26,100, which has increased by 12.6% over the past 5 years. Gaines, MI is a popular place for families, as children make up 25.2% of the population. The area has a moderately educated workforce, with 44.9% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 13.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 26,100 | 12.6% |
% Under 18 | 25.2% | -11.6% |
% Seniors | 15.7% | 22.7% |
% WFH | 13.3% | 232.5% |
% w/ College Degree | 44.9% | 11.4% |
As of the latest ACS Survey released in 2023, Gaines, MI is a predominantly white area, with 82.1% of the population identifying as white. The white population has shrunk by 6.4% in the last 5 years. The second most common race or ethnicity in Gaines, MI is hispanic, making up 6.6% of the population. Foreign-born residents account for 7.0% of the population in Gaines, MI, and this percentage has increased by 6.1% 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 | 82.1% | -6.4% |
% Black | 2.1% | -19.2% |
% Hispanic | 6.6% | 94.1% |
% Asian | 5.5% | 37.5% |
% Foreign Born | 7.0% | 6.1% |
Mortgage and Risk — Gaines, MI
According to HUD data as of 2023, there were 620 mortgage originations in Gaines, MI, of which 92.0% of loans were conventional mortgages. The average loan-to-value was 56.0%, with 23.0% above 90% LTV (very high). This implies large mortgage risk in Gaines, MI. Investor activity is low, as 1.0% of loans were by investors. 6.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 620 |
% Conventional Loans | 92.0% |
% Government Loans | 8.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 6.0% |
Loan Activity
Rentals and Section 8 — Gaines, MI
As of 2024, the percent of homes in Gaines, MI under the Section 8 program is 1.4%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Gaines, MI, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 65 |
Total Units Section 8 | 16 |
% Rentals under Section 8 | 1.4% |
% Occupied Section 8 | 91.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$400 | $1,750 | $1,350 |
| 2 Bedroom | -$540 | $2,180 | $1,640 |
| 3 Bedroom | -$370 | $2,500 | $2,130 |
| 4 Bedroom | -$330 | $2,650 | $2,320 |
Affordability — Gaines, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.7 |
| Median Home Price | $423,000 |
| Median Household Income | $102,000 |