Plymouth, MI—48170
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Plymouth, MI
As of Oct '25, the median home price in Plymouth, MI is $462,000, with a year-over-year change of 5.6%. This indicates that home prices in Plymouth, MI are increasing. According to Zillow, the 1-year price projection is 0.9%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $462,000 | 5.6% |
| Single Family | $493,000 | 6.0% |
| Condos | $308,000 | 3.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $158,000 | 3.3% |
2 Bed | $301,000 | 4.5% |
3 Bed | $433,000 | 4.3% |
4 Bed | $623,000 | 6.1% |
| 5 Bed | $740,000 | 5.1% |
% of Housing Stock
Rental Trends — Plymouth, MI
As of July '25, Rentcast reports the average rent in Plymouth, MI is $2,340, with a year-over-year rent change of -2.5%. Per bedroom, the median rent as of July '25 in Plymouth, MI is 1-bedrooms: $1,370, 2-bedrooms: $2,150, 3-bedrooms: $2,850, 4-bedrooms: $3,570. The most common rental property sizes in Plymouth, MI are 2-bedroom and 1-bedroom, accounting for 44.2% and 38.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,300 | $2,340 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,300 | $1,370 |
| 2 Bed Rent | $2,150 | $2,150 |
| 3 Bed Rent | $2,500 | $2,850 |
| 4 Bed Rent | $3,000 | $3,570 |
% of Rental Stock
Property Listings — Plymouth, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Plymouth, MI is 46. This is a increase of 12.0% 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 18.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $476,000 | -12.0% |
Listing Count | 142 | 6.0% |
| Listings as % of Homes | 0.3% | 6.0% |
Days on Market | 46 | 12.0% |
Demographics — Plymouth, MI
As of the latest ACS Survey released in 2023, Plymouth, MI has a population of 40,600, which has increased by 2.3% over the past 5 years. Plymouth, MI is a moderately popular place for families, as children make up 21.1% of the population. The area has a highly educated workforce, with 59.0% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 23.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 40,600 | 2.3% |
% Under 18 | 21.1% | 1.9% |
% Seniors | 21.3% | 9.8% |
% WFH | 23.0% | 310.7% |
% w/ College Degree | 59.0% | 10.1% |
As of the latest ACS Survey released in 2023, Plymouth, MI is a predominantly white area, with 86.8% of the population identifying as white. The white population has shrunk by 3.6% in the last 5 years. The second most common race or ethnicity in Plymouth, MI is asian, making up 3.5% of the population. Foreign-born residents account for 6.5% of the population in Plymouth, MI, and this percentage has decreased by 25.3% 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 | 86.8% | -3.6% |
% Black | 2.2% | 46.7% |
% Hispanic | 2.7% | 8.0% |
% Asian | 3.5% | -20.5% |
% Foreign Born | 6.5% | -25.3% |
Mortgage and Risk — Plymouth, MI
According to HUD data as of 2023, there were 749 mortgage originations in Plymouth, MI, of which 95.0% of loans were conventional mortgages. The average loan-to-value was 57.0%, with 17.0% above 90% LTV (elevated). This implies medium mortgage risk in Plymouth, MI. Investor activity is low, as 1.0% 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 | 749 |
% Conventional Loans | 95.0% |
% Government Loans | 5.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Plymouth, MI
As of 2024, the percent of homes in Plymouth, MI under the Section 8 program is 4.4%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Plymouth, MI, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 168 |
Total Units Section 8 | 164 |
% Rentals under Section 8 | 4.4% |
% Occupied Section 8 | 94.5% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$180 | $1,300 | $1,120 |
| 2 Bedroom | -$790 | $2,150 | $1,360 |
| 3 Bedroom | -$840 | $2,500 | $1,660 |
| 4 Bedroom | -$1,190 | $3,000 | $1,810 |
Affordability — Plymouth, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.7 |
| Median Home Price | $462,000 |
| Median Household Income | $109,000 |