Romeo, MI 48065 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Romeo, MI—48065

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$407,000

5.5% YoY Growth

Household Income

$104,000

39.7% YoY Growth

Days on Market

27.0% Shorter YoY

Home Price Forecast

2.3%

Median Rent

$1,290

25.6% YoY Growth

1-Bed Rent

$900

N/A

2-Bed Rent

$1,300

18.5% YoY Growth

3-Bed Rent

$1,290

N/A

Home Price Trends — Romeo, MI

As of Nov '25, the median home price in Romeo, MI is $407,000, with a year-over-year change of 5.5%. This indicates that home prices in Romeo, MI are increasing. According to Zillow, the 1-year price projection is 2.3%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$407,000	5.5%
Single Family	$414,000	4.8%
Condos	$364,000	8.7%

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Romeo, MI

As of July '25, Rentcast reports the average rent in Romeo, MI is $1,480, with a year-over-year rent change of -25.6%. Per bedroom, the median rent as of July '25 in Romeo, MI is 1-bedrooms: $925, 2-bedrooms: $1,320, 3-bedrooms: $1,320, 4-bedrooms: $3,300. The most common rental property sizes in Romeo, MI are 2-bedroom and 1-bedroom, accounting for 46.7% and 28.1% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$1,290	$1,480
Studio Rent	N/A	N/A
1 Bed Rent	$900	$925
2 Bed Rent	$1,300	$1,320
3 Bed Rent	$1,290	$1,320
4 Bed Rent	$2,800	$3,300

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% of Rental Stock

Studio

1.6%

1 Bedroom

28.1%

2 Bedrooms

46.7%

3 Bedrooms

23.0%

4 Bedrooms

0.6%

Property Listings — Romeo, MI

As of Nov '25, Realtor.com reports that the median days on market for a home in Romeo, MI is 57. This is a decrease of -27.0% 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 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	$650,000	22.0%
Listing Count	52	45.0%
Listings as % of Homes	0.9%	45.0%
Days on Market	57	-27.0%

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Demographics — Romeo, MI

As of the latest ACS Survey released in 2023, Romeo, MI has a population of 11,300, which has increased by 1.5% over the past 5 years. Romeo, MI is a moderately popular place for families, as children make up 21.1% of the population. The area has a moderately educated workforce, with 33.8% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.3% reporting working from home.

Metric	Latest Census	YoY % Change
Population	11,300	1.5%
% Under 18	21.1%	-0.5%
% Seniors	20.7%	20.3%
% WFH	9.3%	126.8%
% w/ College Degree	33.8%	5.6%

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As of the latest ACS Survey released in 2023, Romeo, MI is a predominantly white area, with 90.7% of the population identifying as white. The white population has grown by 3.2% in the last 5 years. The second most common race or ethnicity in Romeo, MI is hispanic, making up 4.9% of the population. Foreign-born residents account for 3.6% of the population in Romeo, MI, and this percentage has decreased by 52.6% 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	90.7%	3.2%
% Black	0.8%	-76.5%
% Hispanic	4.9%	-14.0%
% Asian	0.2%	-86.7%
% Foreign Born	3.6%	-52.6%

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Mortgage and Risk — Romeo, MI

According to HUD data as of 2023, there were 283 mortgage originations in Romeo, MI, of which 91.0% of loans were conventional mortgages. The average loan-to-value was 60.0%, with 19.0% above 90% LTV (elevated). This implies medium mortgage risk in Romeo, MI. Investor activity is low, as 0.0% 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	283
% Conventional Loans	91.0%
% Government Loans	9.0%
% Investor Loans	0.0%
% Second Loans	0.0%
% Cash Out Refinance	11.0%

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Rentals and Section 8 — Romeo, MI

As of 2024, the percent of homes in Romeo, MI under the Section 8 program is 16.0%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Romeo, MI, because HUD payments exceed market rent, while 2-bedroom and 4-bedroom units do not.

Section 8 Market Size

Total Units under HUD	130
Total Units Section 8	130
% Rentals under Section 8	16.0%
% Occupied Section 8	93.0%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	$90	$900	$990
2 Bedroom	-$50	$1,300	$1,250
3 Bedroom	$240	$1,290	$1,530
4 Bedroom	-$1,140	$2,800	$1,660

Romeo, MI—48065

Key Metrics at a Glance

Home Price Trends — Romeo, MI

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Romeo, MI

% of Rental Stock

Property Listings — Romeo, MI

Demographics — Romeo, MI

Race and Ethnicity

Mortgage and Risk — Romeo, MI

Mortgages

Rentals and Section 8 — Romeo, MI

Section 8 Market Size

Section 8 Opportunity

Affordability — Romeo, MI

Home Price to Income Ratio

Romeo, MI — ZIP Code Boundary Map

Nearby ZIP Codes

Washington, MI

Almont, MI

Leonard, MI

Washington, MI

Armada, MI

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	3.5
Median Home Price	$407,000
Median Household Income	$104,000

Romeo, MI—48065

Key Metrics at a Glance

Home Price Trends — Romeo, MI

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Romeo, MI

% of Rental Stock

Property Listings — Romeo, MI

Demographics — Romeo, MI

Race and Ethnicity

Mortgage and Risk — Romeo, MI

Mortgages

Rentals and Section 8 — Romeo, MI

Section 8 Market Size

Section 8 Opportunity

Affordability — Romeo, MI

Home Price to Income Ratio

Romeo, MI — ZIP Code Boundary Map

Nearby ZIP Codes

Washington, MI

Almont, MI

Leonard, MI

Washington, MI

Armada, MI

Frequently Asked Questions

What is the average home price in Romeo, MI 48065?

How have home prices in Romeo, MI 48065 changed over the past year?

What is the home price projection for Romeo, MI 48065?

What are the demographics of Romeo, MI 48065?

How long does it take homes to sell in Romeo, MI 48065?

What is the average rent price in Romeo, MI 48065?