Suttons Bay, MI—49682
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Suttons Bay, MI
As of Oct '25, the median home price in Suttons Bay, MI is $615,000, with a year-over-year change of -2.7%. This indicates that home prices in Suttons Bay, MI are decreasing. According to Zillow, the 1-year price projection is 3.0%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $615,000 | -2.7% |
| Single Family | $624,000 | -3.0% |
| Condos | $570,000 | 1.6% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | $677,000 | 0.7% |
4 Bed | $841,000 | 3.3% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Suttons Bay, MI
As of July '25, Rentcast reports the average rent in Suttons Bay, MI is $2,150, with a year-over-year rent change of 15.0%. Per bedroom, the median rent as of July '25 in Suttons Bay, MI is 2-bedrooms: $1,700, 3-bedrooms: $2,380. The most common rental property sizes in Suttons Bay, MI are 3-bedroom and 1-bedroom, accounting for 37.9% and 25.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,250 | $2,150 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $1,700 | $1,700 |
| 3 Bed Rent | $2,250 | $2,380 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Suttons Bay, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Suttons Bay, MI is 47. This is a decrease of -1.0% from last year, suggesting that homes are sitting on the market about the same amount of time than last year. The percentage of listed homes with a reduced price is 31.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $750,000 | -3.0% |
Listing Count | 32 | 53.0% |
| Listings as % of Homes | 0.2% | 53.0% |
Days on Market | 47 | -1.0% |
Demographics — Suttons Bay, MI
As of the latest ACS Survey released in 2023, Suttons Bay, MI has a population of 4,530, which has increased by 10.6% over the past 5 years. Suttons Bay, MI is a moderately popular place for families, as children make up 15.2% of the population. The area has a moderately educated workforce, with 42.2% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 4,530 | 10.6% |
% Under 18 | 15.2% | -13.6% |
% Seniors | 30.8% | 6.9% |
% WFH | 10.1% | 32.9% |
% w/ College Degree | 42.2% | 19.5% |
As of the latest ACS Survey released in 2023, Suttons Bay, MI is a predominantly white area, with 79.5% of the population identifying as white. The white population has grown by 8.8% in the last 5 years. The second most common race or ethnicity in Suttons Bay, MI is hispanic, making up 5.5% of the population. Foreign-born residents account for 3.2% of the population in Suttons Bay, MI, and this percentage has decreased by 36.0% 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 | 79.5% | 8.8% |
% Black | 1.3% | 160.0% |
% Hispanic | 5.5% | -51.3% |
% Asian | 1.6% | 433.3% |
% Foreign Born | 3.2% | -36.0% |
Mortgage and Risk — Suttons Bay, MI
According to HUD data as of 2023, there were 103 mortgage originations in Suttons Bay, MI, of which 99.0% of loans were conventional mortgages. The average loan-to-value was 43.0%, with 5.0% above 90% LTV (normal). This implies small mortgage risk in Suttons Bay, MI. Investor activity is low, as 0.0% of loans were by investors. 13.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 103 |
% Conventional Loans | 99.0% |
% Government Loans | 1.0% |
% Investor Loans | 0.0% |
% Second Loans | 20.0% |
% Cash Out Refinance | 13.0% |
Loan Activity
Rentals and Section 8 — Suttons Bay, MI
Suttons Bay, 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 | N/A | N/A | $990 |
| 2 Bedroom | -$540 | $1,700 | $1,160 |
| 3 Bedroom | -$850 | $2,250 | $1,400 |
| 4 Bedroom | N/A | N/A | $1,540 |
Affordability — Suttons Bay, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 7 |
| Median Home Price | $615,000 |
| Median Household Income | $89,700 |