Orion, MI—48359
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Orion, MI
Home Price Trends — Orion, MI
As of Oct '25, the median home price in Orion, MI is $387,000, with a year-over-year change of 3.1%. This indicates that home prices in Orion, 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 | $387,000 | 3.1% |
| Single Family | $374,000 | 2.2% |
| Condos | $460,000 | 5.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $236,000 | 2.2% |
3 Bed | $307,000 | 1.3% |
4 Bed | $534,000 | 3.9% |
| 5 Bed | $618,000 | 4.0% |
% of Housing Stock
Rental Trends — Orion, MI
As of July '25, Rentcast reports the average rent in Orion, MI is $1,830, with a year-over-year rent change of -44.5%. Per bedroom, the median rent as of July '25 in Orion, MI is 1-bedrooms: $1,020, 2-bedrooms: $1,580, 3-bedrooms: $1,890, 4-bedrooms: $3,350. The most common rental property sizes in Orion, MI are 2-bedroom and 1-bedroom, accounting for 37.4% and 29.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,500 | $1,830 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,020 | $1,020 |
| 2 Bed Rent | $1,380 | $1,580 |
| 3 Bed Rent | $1,500 | $1,890 |
| 4 Bed Rent | $3,200 | $3,350 |
% of Rental Stock
Property Listings — Orion, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Orion, MI is 45. This is a increase of 107.0% 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 17.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $525,000 | 1.0% |
Listing Count | 35 | -6.0% |
| Listings as % of Homes | 0.3% | -6.0% |
Days on Market | 45 | 107.0% |
Demographics — Orion, MI
As of the latest ACS Survey released in 2023, Orion, MI has a population of 10,400, which has increased by 8.5% over the past 5 years. Orion, MI is a moderately popular place for families, as children make up 23.2% of the population. The area has a highly educated workforce, with 51.8% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 20.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 10,400 | 8.5% |
% Under 18 | 23.2% | -8.3% |
% Seniors | 13.3% | 35.7% |
% WFH | 20.1% | 491.2% |
% w/ College Degree | 51.8% | 13.6% |
As of the latest ACS Survey released in 2023, Orion, MI is a predominantly white area, with 79.4% of the population identifying as white. The white population has shrunk by 0.9% in the last 5 years. The second most common race or ethnicity in Orion, MI is hispanic, making up 8.1% of the population. Foreign-born residents account for 9.3% of the population in Orion, MI, and this percentage has decreased by 13.1% 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 | 79.4% | -0.9% |
% Black | 2.2% | -61.4% |
% Hispanic | 8.1% | 50.0% |
% Asian | 6.8% | 28.3% |
% Foreign Born | 9.3% | -13.1% |
Mortgage and Risk — Orion, MI
According to HUD data as of 2023, there were 238 mortgage originations in Orion, MI, of which 93.0% of loans were conventional mortgages. The average loan-to-value was 65.0%, with 30.0% above 90% LTV (very high). This implies large mortgage risk in Orion, 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 | 238 |
% Conventional Loans | 93.0% |
% Government Loans | 7.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 13.0% |
Loan Activity
Rentals and Section 8 — Orion, MI
As of 2024, the percent of homes in Orion, MI under the Section 8 program is 0.6%. 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. 1-bedroom and 2-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Orion, MI, because HUD payments exceed market rent, while 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 4 |
Total Units Section 8 | 4 |
% Rentals under Section 8 | 0.6% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $160 | $1,020 | $1,180 |
| 2 Bedroom | $110 | $1,380 | $1,490 |
| 3 Bedroom | $330 | $1,500 | $1,830 |
| 4 Bedroom | -$1,220 | $3,200 | $1,980 |
Affordability — Orion, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.7 |
| Median Home Price | $387,000 |
| Median Household Income | $94,600 |