Fort Gratiot, MI—48059
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Fort Gratiot, MI
As of Oct '25, the median home price in Fort Gratiot, MI is $256,000, with a year-over-year change of 4.1%. This indicates that home prices in Fort Gratiot, MI are increasing. According to Zillow, the 1-year price projection is 1.6%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $256,000 | 4.1% |
| Single Family | $253,000 | 4.1% |
| Condos | $305,000 | 9.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $194,000 | 4.9% |
3 Bed | $262,000 | 4.4% |
4 Bed | $350,000 | 4.8% |
| 5 Bed | $435,000 | 4.3% |
% of Housing Stock
Rental Trends — Fort Gratiot, MI
As of July '25, Rentcast reports the average rent in Fort Gratiot, MI is $1,040, with a year-over-year rent change of -1.0%. Per bedroom, the median rent as of July '25 in Fort Gratiot, MI is studios: $830, 2-bedrooms: $950, 3-bedrooms: $1,350. The most common rental property sizes in Fort Gratiot, MI are 1-bedroom and 2-bedroom, accounting for 36.3% and 32.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $950 | $1,040 |
| Studio Rent | $830 | $830 |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $950 | $950 |
| 3 Bed Rent | $1,350 | $1,350 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Fort Gratiot, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Fort Gratiot, MI is 38. This is a decrease of -16.0% 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 33.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $298,000 | 4.0% |
Listing Count | 55 | 10.0% |
| Listings as % of Homes | 0.4% | 10.0% |
Days on Market | 38 | -16.0% |
Demographics — Fort Gratiot, MI
As of the latest ACS Survey released in 2023, Fort Gratiot, MI has a population of 15,400, which has increased by 2.8% over the past 5 years. Fort Gratiot, MI is a moderately popular place for families, as children make up 19.3% of the population. The area has a moderately educated workforce, with 30.1% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 15,400 | 2.8% |
% Under 18 | 19.3% | -12.7% |
% Seniors | 25.5% | 21.4% |
% WFH | 7.5% | 212.5% |
% w/ College Degree | 30.1% | 28.1% |
As of the latest ACS Survey released in 2023, Fort Gratiot, MI is a predominantly white area, with 90.3% of the population identifying as white. The white population has shrunk by 2.9% in the last 5 years. The second most common race or ethnicity in Fort Gratiot, MI is hispanic, making up 5.1% of the population. Foreign-born residents account for 2.2% of the population in Fort Gratiot, MI, and this percentage has decreased by 21.4% 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 | 90.3% | -2.9% |
% Black | 1.2% | -7.7% |
% Hispanic | 5.1% | 104.0% |
% Asian | 0.8% | 166.7% |
% Foreign Born | 2.2% | -21.4% |
Mortgage and Risk — Fort Gratiot, MI
According to HUD data as of 2023, there were 297 mortgage originations in Fort Gratiot, MI, of which 81.0% of loans were conventional mortgages. The average loan-to-value was 59.0%, with 22.0% above 90% LTV (very high). This implies large mortgage risk in Fort Gratiot, MI. Investor activity is low, as 1.0% 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 | 297 |
% Conventional Loans | 81.0% |
% Government Loans | 19.0% |
% Investor Loans | 1.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 13.0% |
Loan Activity
Rentals and Section 8 — Fort Gratiot, MI
Fort Gratiot, MI lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 74 |
Total Units Section 8 | 64 |
% Rentals under Section 8 | 5.9% |
% Occupied Section 8 | 89.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $980 |
| 2 Bedroom | $290 | $950 | $1,240 |
| 3 Bedroom | $170 | $1,350 | $1,520 |
| 4 Bedroom | N/A | N/A | $1,640 |
Affordability — Fort Gratiot, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.9 |
| Median Home Price | $256,000 |
| Median Household Income | $78,800 |