Cadillac, MI—49601
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Cadillac, MI
As of Oct '25, the median home price in Cadillac, MI is $220,000, with a year-over-year change of 1.7%. This indicates that home prices in Cadillac, MI are increasing. According to Zillow, the 1-year price projection is 0.7%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $220,000 | 1.7% |
| Single Family | $219,000 | 1.4% |
| Condos | $247,000 | 1.2% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $180,000 | 2.9% |
3 Bed | $240,000 | 3.0% |
4 Bed | $305,000 | 3.7% |
| 5 Bed | $355,000 | 3.5% |
% of Housing Stock
Rental Trends — Cadillac, MI
As of July '25, Rentcast reports the average rent in Cadillac, MI is $1,130, with a year-over-year rent change of -11.7%. Per bedroom, the median rent as of July '25 in Cadillac, MI is studios: $650, 2-bedrooms: $1,100, 3-bedrooms: $1,700. The most common rental property sizes in Cadillac, MI are 2-bedroom and 1-bedroom, accounting for 41.4% and 27.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,050 | $1,130 |
| Studio Rent | $650 | $650 |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $1,050 | $1,100 |
| 3 Bed Rent | $1,700 | $1,700 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Cadillac, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Cadillac, MI is 59. 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 34.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $253,000 | -3.0% |
Listing Count | 113 | 19.0% |
| Listings as % of Homes | 0.5% | 19.0% |
Days on Market | 59 | -4.0% |
Demographics — Cadillac, MI
As of the latest ACS Survey released in 2023, Cadillac, MI has a population of 22,100, which has increased by 2.7% over the past 5 years. Cadillac, MI is a moderately popular place for families, as children make up 21.9% of the population. The area has a poorly educated workforce, with 24.7% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 22,100 | 2.7% |
% Under 18 | 21.9% | -0.5% |
% Seniors | 21.0% | 7.7% |
% WFH | 6.3% | 50.0% |
% w/ College Degree | 24.7% | 19.3% |
As of the latest ACS Survey released in 2023, Cadillac, MI is a predominantly white area, with 92.0% of the population identifying as white. The white population has shrunk by 2.6% in the last 5 years. The second most common race or ethnicity in Cadillac, MI is hispanic, making up 2.0% of the population. Foreign-born residents account for 1.7% of the population in Cadillac, MI, and this percentage has increased by 21.4% 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 | 92.0% | -2.6% |
% Black | 1.5% | 87.5% |
% Hispanic | 2.0% | 5.3% |
% Asian | 0.7% | -12.5% |
% Foreign Born | 1.7% | 21.4% |
Mortgage and Risk — Cadillac, MI
According to HUD data as of 2023, there were 404 mortgage originations in Cadillac, MI, of which 80.0% of loans were conventional mortgages. The average loan-to-value was 63.0%, with 30.0% above 90% LTV (very high). This implies large mortgage risk in Cadillac, MI. Investor activity is low, as 1.0% 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 | 404 |
% Conventional Loans | 80.0% |
% Government Loans | 20.0% |
% Investor Loans | 1.0% |
% Second Loans | 4.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Cadillac, MI
Cadillac, MI lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 531 |
Total Units Section 8 | 405 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 93.8% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $720 |
| 2 Bedroom | -$110 | $1,050 | $940 |
| 3 Bedroom | -$480 | $1,700 | $1,220 |
| 4 Bedroom | N/A | N/A | $1,390 |
Affordability — Cadillac, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.9 |
| Median Home Price | $220,000 |
| Median Household Income | $65,700 |