Honor, MI 49640 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Honor, MI—49640

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$427,000

4.9% YoY Growth

Household Income

$83,800

66.0% YoY Growth

Days on Market

57.0% Longer YoY

Home Price Forecast

1.8%

Median Rent

$850

N/A

1-Bed Rent

$950

N/A

2-Bed Rent

N/A

3-Bed Rent

N/A

Home Price Trends — Honor, MI

As of May '26, the median home price in Honor, MI is $427,000, with a year-over-year change of 4.9%. This indicates that home prices in Honor, 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	$427,000	4.9%
Single Family	$428,000	6.2%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Honor, MI

Honor, MI lacks sufficient rental market data for analysis.

Type	Median Rent	Average Rent
Average Rent	$850	$900
Studio Rent	$850	$850
1 Bed Rent	$950	$950
2 Bed Rent	N/A	N/A
3 Bed Rent	N/A	N/A
4 Bed Rent	N/A	N/A

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% of Rental Stock

1 Bedroom

26.1%

2 Bedrooms

28.3%

3 Bedrooms

34.8%

4 Bedrooms

10.9%

Property Listings — Honor, MI

As of May '26, Realtor.com reports that the median days on market for a home in Honor, MI is 35. This is a increase of 57.0% 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 0.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$592,000	1.0%
Listing Count	5	-43.0%
Listings as % of Homes	0.1%	-43.0%
Days on Market	35	57.0%

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Demographics — Honor, MI

As of the latest ACS Survey released in 2023, Honor, MI has a population of 1,270, which has decreased by -20.0% over the past 5 years. Honor, MI is a less popular place for families, as children make up 10.3% of the population. The area has a moderately educated workforce, with 41.5% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 21.9% reporting working from home.

Metric	Latest Census	YoY % Change
Population	1,270	-20.0%
% Under 18	10.3%	-25.4%
% Seniors	37.4%	18.0%
% WFH	21.9%	305.6%
% w/ College Degree	41.5%	54.9%

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As of the latest ACS Survey released in 2023, Honor, MI is a predominantly white area, with 92.9% of the population identifying as white. The white population has grown by 2.3% in the last 5 years. The second most common race or ethnicity in Honor, MI is hispanic, making up 1.6% of the population. Foreign-born residents account for 1.1% of the population in Honor, MI, and this percentage has decreased by 56.0% 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	92.9%	2.3%
% Black	0.0%	-100.0%
% Hispanic	1.6%	-63.6%
% Asian	0.0%	-100.0%
% Foreign Born	1.1%	-56.0%

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Mortgage and Risk — Honor, MI

According to HUD data as of 2023, there were 42 mortgage originations in Honor, MI, of which 79.0% of loans were conventional mortgages. The average loan-to-value was 65.0%, with 24.0% above 90% LTV (very high). This implies large mortgage risk in Honor, MI. Investor activity is low, as 7.0% of loans were by investors. 24.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	42
% Conventional Loans	79.0%
% Government Loans	21.0%
% Investor Loans	7.0%
% Second Loans	17.0%
% Cash Out Refinance	24.0%

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Rentals and Section 8 — Honor, MI

Honor, MI lacks sufficient Section 8 program data for analysis.

Section 8 Market Size

Total Units under HUD	3
Total Units Section 8	3
% 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	-$50	$950	$900
2 Bedroom	N/A	N/A	$1,160
3 Bedroom	N/A	N/A	$1,400
4 Bedroom	N/A	N/A	$1,540

Honor, MI—49640

Key Metrics at a Glance

Home Price Trends — Honor, MI

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Honor, MI

% of Rental Stock

Property Listings — Honor, MI

Demographics — Honor, MI

Race and Ethnicity

Mortgage and Risk — Honor, MI

Mortgages

Rentals and Section 8 — Honor, MI

Section 8 Market Size

Section 8 Opportunity

Affordability — Honor, MI

Home Price to Income Ratio

Honor, MI — ZIP Code Boundary Map

Nearby ZIP Codes

Beulah, MI

Empire, MI

Benzonia, MI

Lake Ann, MI

Empire, MI

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	4.4
Median Home Price	$427,000
Median Household Income	$83,800

Honor, MI—49640

Key Metrics at a Glance

Home Price Trends — Honor, MI

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Honor, MI

% of Rental Stock

Property Listings — Honor, MI

Demographics — Honor, MI

Race and Ethnicity

Mortgage and Risk — Honor, MI

Mortgages

Rentals and Section 8 — Honor, MI

Section 8 Market Size

Section 8 Opportunity

Affordability — Honor, MI

Home Price to Income Ratio

Honor, MI — ZIP Code Boundary Map

Nearby ZIP Codes

Beulah, MI

Empire, MI

Benzonia, MI

Lake Ann, MI

Empire, MI

Frequently Asked Questions

What is the average home price in Honor, MI 49640?

How have home prices in Honor, MI 49640 changed over the past year?

What is the home price projection for Honor, MI 49640?

What are the demographics of Honor, MI 49640?

How long does it take homes to sell in Honor, MI 49640?

What is the average rent price in Honor, MI 49640?