Lowell, MI—49331
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Lowell, MI
As of Oct '25, the median home price in Lowell, MI is $390,000, with a year-over-year change of 6.0%. This indicates that home prices in Lowell, MI are increasing. According to Zillow, the 1-year price projection is 2.6%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $390,000 | 6.0% |
| Single Family | $390,000 | 6.0% |
| Condos | $388,000 | 8.1% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $298,000 | 6.4% |
3 Bed | $361,000 | 5.9% |
4 Bed | $433,000 | 5.1% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Lowell, MI
As of July '25, Rentcast reports the average rent in Lowell, MI is $1,760, with a year-over-year rent change of 0.0%. Per bedroom, the median rent as of July '25 in Lowell, MI is 1-bedrooms: $1,160, 2-bedrooms: $1,170, 3-bedrooms: $2,620, 4-bedrooms: $2,250. The most common rental property sizes in Lowell, MI are 2-bedroom and 1-bedroom, accounting for 58.7% and 24.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,500 | $1,760 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $995 | $1,160 |
| 2 Bed Rent | $1,150 | $1,170 |
| 3 Bed Rent | $2,500 | $2,620 |
| 4 Bed Rent | $2,200 | $2,250 |
% of Rental Stock
Property Listings — Lowell, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Lowell, MI is 39. This is a increase of 28.0% 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 26.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $482,000 | 7.0% |
Listing Count | 69 | 1.0% |
| Listings as % of Homes | 0.4% | 1.0% |
Days on Market | 39 | 28.0% |
Demographics — Lowell, MI
As of the latest ACS Survey released in 2023, Lowell, MI has a population of 17,400, which has remained stable by -0.9% over the past 5 years. Lowell, MI is a popular place for families, as children make up 25.1% of the population. The area has a moderately educated workforce, with 39.1% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 15.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 17,400 | -0.9% |
% Under 18 | 25.1% | 12.6% |
% Seniors | 15.2% | 11.8% |
% WFH | 15.8% | 267.4% |
% w/ College Degree | 39.1% | 39.6% |
As of the latest ACS Survey released in 2023, Lowell, MI is a predominantly white area, with 88.0% of the population identifying as white. The white population has shrunk by 6.3% in the last 5 years. The second most common race or ethnicity in Lowell, MI is hispanic, making up 3.7% of the population. Foreign-born residents account for 1.4% of the population in Lowell, MI, and this percentage has decreased by 6.7% 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 | 88.0% | -6.3% |
% Black | 1.0% | -9.1% |
% Hispanic | 3.7% | 37.0% |
% Asian | 0.6% | 50.0% |
% Foreign Born | 1.4% | -6.7% |
Mortgage and Risk — Lowell, MI
According to HUD data as of 2023, there were 297 mortgage originations in Lowell, MI, of which 91.0% of loans were conventional mortgages. The average loan-to-value was 52.0%, with 18.0% above 90% LTV (elevated). This implies medium mortgage risk in Lowell, MI. Investor activity is low, as 1.0% 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 | 297 |
% Conventional Loans | 91.0% |
% Government Loans | 9.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Lowell, MI
As of 2024, the percent of homes in Lowell, MI under the Section 8 program is 0.5%. 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. 1-bedroom and 2-bedroom units appear to be good home sizes to consider for Section 8 housing in Lowell, MI, because HUD payments exceed market rent, while 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 4 |
Total Units Section 8 | 4 |
% Rentals under Section 8 | 0.5% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $115 | $995 | $1,110 |
| 2 Bedroom | $200 | $1,150 | $1,350 |
| 3 Bedroom | -$760 | $2,500 | $1,740 |
| 4 Bedroom | -$270 | $2,200 | $1,930 |
Affordability — Lowell, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.5 |
| Median Home Price | $390,000 |
| Median Household Income | $92,400 |