Midland, MI—48640
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Midland, MI
Home Price Trends — Midland, MI
As of Oct '25, the median home price in Midland, MI is $229,000, with a year-over-year change of 3.1%. This indicates that home prices in Midland, MI are increasing. According to Zillow, the 1-year price projection is 1.9%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $229,000 | 3.1% |
| Single Family | $225,000 | 2.3% |
| Condos | $261,000 | 10.1% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $164,000 | 4.5% |
3 Bed | $223,000 | 4.7% |
4 Bed | $326,000 | 3.5% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Midland, MI
As of July '25, Rentcast reports the average rent in Midland, MI is $1,360, with a year-over-year rent change of -4.2%. Per bedroom, the median rent as of July '25 in Midland, MI is studios: $750, 1-bedrooms: $844, 2-bedrooms: $1,560, 3-bedrooms: $1,590, 4-bedrooms: $2,400. The most common rental property sizes in Midland, MI are 2-bedroom and 3-bedroom, accounting for 38.5% and 28.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,200 | $1,360 |
| Studio Rent | $750 | $750 |
| 1 Bed Rent | $885 | $844 |
| 2 Bed Rent | $1,200 | $1,560 |
| 3 Bed Rent | $1,600 | $1,590 |
| 4 Bed Rent | $2,400 | $2,400 |
% of Rental Stock
Property Listings — Midland, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Midland, MI is 44. This is a increase of 25.0% 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 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 | $309,000 | 5.0% |
Listing Count | 110 | 11.0% |
| Listings as % of Homes | 0.3% | 11.0% |
Days on Market | 44 | 25.0% |
Demographics — Midland, MI
As of the latest ACS Survey released in 2023, Midland, MI has a population of 32,600, which has decreased by -1.3% over the past 5 years. Midland, MI is a moderately popular place for families, as children make up 21.7% of the population. The area has a moderately educated workforce, with 38.1% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 32,600 | -1.3% |
% Under 18 | 21.7% | -1.4% |
% Seniors | 18.4% | 8.2% |
% WFH | 12.2% | 306.7% |
% w/ College Degree | 38.1% | 7.9% |
As of the latest ACS Survey released in 2023, Midland, MI is a predominantly white area, with 89.7% 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 Midland, MI is hispanic, making up 3.8% of the population. Foreign-born residents account for 2.7% of the population in Midland, MI, and this percentage has decreased by 37.2% 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 | 89.7% | -0.9% |
% Black | 1.3% | -31.6% |
% Hispanic | 3.8% | 8.6% |
% Asian | 1.5% | -25.0% |
% Foreign Born | 2.7% | -37.2% |
Mortgage and Risk — Midland, MI
According to HUD data as of 2023, there were 643 mortgage originations in Midland, MI, of which 83.0% of loans were conventional mortgages. The average loan-to-value was 67.0%, with 29.0% above 90% LTV (very high). This implies large mortgage risk in Midland, MI. Investor activity is low, as 1.0% of loans were by investors. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 643 |
% Conventional Loans | 83.0% |
% Government Loans | 17.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — Midland, MI
As of 2024, the percent of homes in Midland, MI under the Section 8 program is 15.8%. 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. In Midland, 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 | 532 |
Total Units Section 8 | 532 |
% Rentals under Section 8 | 15.8% |
% Occupied Section 8 | 94.2% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$45 | $885 | $840 |
| 2 Bedroom | -$110 | $1,200 | $1,090 |
| 3 Bedroom | -$190 | $1,600 | $1,410 |
| 4 Bedroom | -$930 | $2,400 | $1,470 |
Affordability — Midland, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.5 |
| Median Home Price | $229,000 |
| Median Household Income | $81,600 |