Washington, MI—48094
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Washington, MI
Home Price Trends — Washington, MI
As of Oct '25, the median home price in Washington, MI is $455,000, with a year-over-year change of 4.5%. This indicates that home prices in Washington, MI are increasing. According to Zillow, the 1-year price projection is 1.3%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $455,000 | 4.5% |
| Single Family | $480,000 | 3.9% |
| Condos | $394,000 | 5.9% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $309,000 | 4.7% |
3 Bed | $437,000 | 4.3% |
4 Bed | $608,000 | 4.6% |
| 5 Bed | $817,000 | 2.9% |
% of Housing Stock
Rental Trends — Washington, MI
As of July '25, Rentcast reports the average rent in Washington, MI is $2,470, with a year-over-year rent change of 6.0%. Per bedroom, the median rent as of July '25 in Washington, MI is 2-bedrooms: $2,040, 3-bedrooms: $3,050. The most common rental property sizes in Washington, MI are 2-bedroom and 1-bedroom, accounting for 47.4% and 21.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,300 | $2,470 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $2,000 | $2,040 |
| 3 Bed Rent | $3,000 | $3,050 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Washington, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Washington, MI is 53. This is a decrease of -19.0% 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 18.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $700,000 | -1.0% |
Listing Count | 66 | 13.0% |
| Listings as % of Homes | 0.4% | 13.0% |
Days on Market | 53 | -19.0% |
Demographics — Washington, MI
As of the latest ACS Survey released in 2023, Washington, MI has a population of 20,600, which has increased by 7.4% over the past 5 years. Washington, MI is a moderately popular place for families, as children make up 21.8% of the population. The area has a moderately educated workforce, with 35.5% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 20,600 | 7.4% |
% Under 18 | 21.8% | -0.5% |
% Seniors | 19.2% | 1.1% |
% WFH | 10.7% | 463.2% |
% w/ College Degree | 35.5% | -0.8% |
As of the latest ACS Survey released in 2023, Washington, MI is a predominantly white area, with 89.6% of the population identifying as white. The white population has shrunk by 1.6% in the last 5 years. The second most common race or ethnicity in Washington, MI is hispanic, making up 5.8% of the population. Foreign-born residents account for 9.3% of the population in Washington, MI, and this percentage has increased by 12.0% 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 | 89.6% | -1.6% |
% Black | 1.8% | -14.3% |
% Hispanic | 5.8% | 61.1% |
% Asian | 0.6% | -45.5% |
% Foreign Born | 9.3% | 12.0% |
Mortgage and Risk — Washington, MI
According to HUD data as of 2023, there were 399 mortgage originations in Washington, MI, of which 94.0% of loans were conventional mortgages. The average loan-to-value was 53.0%, with 15.0% above 90% LTV (elevated). This implies medium mortgage risk in Washington, 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 | 399 |
% Conventional Loans | 94.0% |
% Government Loans | 6.0% |
% Investor Loans | 0.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Washington, MI
Washington, MI lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 6 |
Total Units Section 8 | 5 |
% Rentals under Section 8 | 0.5% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $1,210 |
| 2 Bedroom | -$470 | $2,000 | $1,530 |
| 3 Bedroom | -$1,130 | $3,000 | $1,870 |
| 4 Bedroom | N/A | N/A | $2,030 |
Affordability — Washington, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.3 |
| Median Home Price | $455,000 |
| Median Household Income | $96,800 |