Carleton, MI 48117 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Carleton, MI—48117

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$315,000

5.5% YoY Growth

Household Income

$76,600

19.8% YoY Growth

Days on Market

28.0% Longer YoY

Home Price Forecast

2.4%

Median Rent

$1,550

13.9% YoY Growth

1-Bed Rent

N/A

2-Bed Rent

N/A

3-Bed Rent

$1,550

N/A

Home Price Trends — Carleton, MI

As of Nov '25, the median home price in Carleton, MI is $315,000, with a year-over-year change of 5.5%. This indicates that home prices in Carleton, MI are increasing. According to Zillow, the 1-year price projection is 2.4%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$315,000	5.5%
Single Family	$318,000	6.0%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Carleton, MI

As of July '25, Rentcast reports the average rent in Carleton, MI is $1,550, with a year-over-year rent change of -13.9%. Per bedroom, the median rent as of July '25 in Carleton, MI is 3-bedrooms: $1,550. The most common rental property sizes in Carleton, MI are 3-bedroom and 2-bedroom, accounting for 52.2% and 27.4% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$1,550	$1,550
Studio Rent	N/A	N/A
1 Bed Rent	N/A	N/A
2 Bed Rent	N/A	N/A
3 Bed Rent	$1,550	$1,550
4 Bed Rent	N/A	N/A

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% of Rental Stock

Studio

3.4%

1 Bedroom

14.8%

2 Bedrooms

27.4%

3 Bedrooms

52.2%

4 Bedrooms

2.1%

Property Listings — Carleton, MI

As of Nov '25, Realtor.com reports that the median days on market for a home in Carleton, MI is 60. This is a increase of 28.0% 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 25.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$315,000	5.0%
Listing Count	16	22.0%
Listings as % of Homes	0.2%	22.0%
Days on Market	60	28.0%

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Demographics — Carleton, MI

As of the latest ACS Survey released in 2023, Carleton, MI has a population of 10,200, which has remained stable by -0.2% over the past 5 years. Carleton, MI is a moderately popular place for families, as children make up 21.0% of the population. The area has a poorly educated workforce, with 14.5% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.6% reporting working from home.

Metric	Latest Census	YoY % Change
Population	10,200	-0.2%
% Under 18	21.0%	1.4%
% Seniors	25.3%	49.7%
% WFH	6.6%	34.7%
% w/ College Degree	14.5%	5.1%

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As of the latest ACS Survey released in 2023, Carleton, MI is a predominantly white area, with 91.7% of the population identifying as white. The white population has shrunk by 1.1% in the last 5 years. The second most common race or ethnicity in Carleton, MI is hispanic, making up 3.5% of the population. Foreign-born residents account for 2.6% of the population in Carleton, MI, and this percentage has increased by 62.5% 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	91.7%	-1.1%
% Black	1.7%	6.2%
% Hispanic	3.5%	16.7%
% Asian	0.4%	33.3%
% Foreign Born	2.6%	62.5%

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Mortgage and Risk — Carleton, MI

According to HUD data as of 2023, there were 256 mortgage originations in Carleton, MI, of which 88.0% of loans were conventional mortgages. The average loan-to-value was 53.0%, with 21.0% above 90% LTV (very high). This implies large mortgage risk in Carleton, MI. Investor activity is low, as 1.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	256
% Conventional Loans	88.0%
% Government Loans	12.0%
% Investor Loans	1.0%
% Second Loans	1.0%
% Cash Out Refinance	12.0%

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Rentals and Section 8 — Carleton, MI

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

Section 8 Market Size

Total Units under HUD	45
Total Units Section 8	1
% Rentals under Section 8	0.2%
% Occupied Section 8	N/A

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	N/A	N/A	$950
2 Bedroom	N/A	N/A	$1,250
3 Bedroom	$0	$1,550	$1,550
4 Bedroom	N/A	N/A	$1,990

Carleton, MI—48117

Key Metrics at a Glance

Home Price Trends — Carleton, MI

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Carleton, MI

% of Rental Stock

Property Listings — Carleton, MI

Demographics — Carleton, MI

Race and Ethnicity

Mortgage and Risk — Carleton, MI

Mortgages

Rentals and Section 8 — Carleton, MI

Section 8 Market Size

Section 8 Opportunity

Affordability — Carleton, MI

Home Price to Income Ratio

Carleton, MI — ZIP Code Boundary Map

Nearby ZIP Codes

Huron, MI

Monroe, MI

Flat Rock, MI

Newport, MI

Maybee, MI

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	3.6
Median Home Price	$315,000
Median Household Income	$76,600

Carleton, MI—48117

Key Metrics at a Glance

Home Price Trends — Carleton, MI

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Carleton, MI

% of Rental Stock

Property Listings — Carleton, MI

Demographics — Carleton, MI

Race and Ethnicity

Mortgage and Risk — Carleton, MI

Mortgages

Rentals and Section 8 — Carleton, MI

Section 8 Market Size

Section 8 Opportunity

Affordability — Carleton, MI

Home Price to Income Ratio

Carleton, MI — ZIP Code Boundary Map

Nearby ZIP Codes

Huron, MI

Monroe, MI

Flat Rock, MI

Newport, MI

Maybee, MI

Frequently Asked Questions

What is the average home price in Carleton, MI 48117?

How have home prices in Carleton, MI 48117 changed over the past year?

What is the home price projection for Carleton, MI 48117?

What are the demographics of Carleton, MI 48117?

How long does it take homes to sell in Carleton, MI 48117?

What is the average rent price in Carleton, MI 48117?