Spruce, MI 48762 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Spruce, MI—48762

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$203,000

0.9% YoY Growth

Household Income

$68,000

47.6% YoY Growth

Days on Market

129

40.0% Longer YoY

Home Price Forecast

N/A

Median Rent

N/A

1-Bed Rent

N/A

2-Bed Rent

N/A

3-Bed Rent

N/A

Home Price Trends — Spruce, MI

Spruce, MI lacks sufficient home price data for analysis.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$203,000	0.9%
Single Family	$203,000	1.5%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed	N/A	N/A

Rental Trends — Spruce, MI

Spruce, MI lacks sufficient rental market data for analysis.

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

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% of Rental Stock

1 Bedroom

30.0%

2 Bedrooms

20.0%

3 Bedrooms

50.0%

Property Listings — Spruce, MI

As of Dec '25, Realtor.com reports that the median days on market for a home in Spruce, MI is 43. This is a increase of 45.0% 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 67.0%, representing a large inventory and a lot of supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$204,000	32.0%
Listing Count	5	27.0%
Listings as % of Homes	0.6%	27.0%
Days on Market	129	40.0%

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Demographics — Spruce, MI

As of the latest ACS Survey released in 2023, Spruce, MI has a population of 1,010, which has decreased by -7.0% over the past 5 years. Spruce, MI is a less popular place for families, as children make up 14.5% of the population. The area has a poorly educated workforce, with 23.2% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.2% reporting working from home.

Metric	Latest Census	YoY % Change
Population	1,010	-7.0%
% Under 18	14.5%	17.9%
% Seniors	34.6%	-8.2%
% WFH	7.2%	-30.1%
% w/ College Degree	23.2%	17.2%

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As of the latest ACS Survey released in 2023, Spruce, MI is a predominantly white area, with 95.1% of the population identifying as white. The white population has shrunk by 0.6% in the last 5 years. The second most common race or ethnicity in Spruce, MI is hispanic, making up 0.6% of the population. Foreign-born residents account for 0.9% of the population in Spruce, MI, and this percentage has remained stable as of the ACS Survey 5 years prior, suggesting immigration has remained steady.

Race and Ethnicity

Metric	Latest Census	5-Year % Change
% White	95.1%	-0.6%
% Black	0.0%	-100.0%
% Hispanic	0.6%	-60.0%
% Asian	0.0%	-100.0%
% Foreign Born	0.9%	0.0%

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Mortgage and Risk — Spruce, MI

According to HUD data as of 2023, there were 37 mortgage originations in Spruce, MI, of which 81.0% of loans were conventional mortgages. The average loan-to-value was 63.0%, with 11.0% above 90% LTV (elevated). This implies medium mortgage risk in Spruce, MI. Investor activity is low, as 0.0% of loans were by investors. 16.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	37
% Conventional Loans	81.0%
% Government Loans	19.0%
% Investor Loans	0.0%
% Second Loans	38.0%
% Cash Out Refinance	16.0%

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Rentals and Section 8 — Spruce, MI

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

Section 8 Market Size

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

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	N/A	N/A	$780
2 Bedroom	N/A	N/A	$940
3 Bedroom	N/A	N/A	$1,230
4 Bedroom	N/A	N/A	$1,500

Spruce, MI—48762

Key Metrics at a Glance

Home Price Trends — Spruce, MI

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Spruce, MI

% of Rental Stock

Property Listings — Spruce, MI

Demographics — Spruce, MI

Race and Ethnicity

Mortgage and Risk — Spruce, MI

Mortgages

Rentals and Section 8 — Spruce, MI

Section 8 Market Size

Section 8 Opportunity

Affordability — Spruce, MI

Home Price to Income Ratio

Spruce, MI — ZIP Code Boundary Map

Nearby ZIP Codes

Ossineke, MI

Hubbard Lake, MI

Herron, MI

Alpena, MI

Lachine, MI

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	2.6
Median Home Price	$203,000
Median Household Income	$68,000

Spruce, MI—48762

Key Metrics at a Glance

Home Price Trends — Spruce, MI

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Spruce, MI

% of Rental Stock

Property Listings — Spruce, MI

Demographics — Spruce, MI

Race and Ethnicity

Mortgage and Risk — Spruce, MI

Mortgages

Rentals and Section 8 — Spruce, MI

Section 8 Market Size

Section 8 Opportunity

Affordability — Spruce, MI

Home Price to Income Ratio

Spruce, MI — ZIP Code Boundary Map

Nearby ZIP Codes

Ossineke, MI

Hubbard Lake, MI

Herron, MI

Alpena, MI

Lachine, MI

Frequently Asked Questions

What is the average home price in Spruce, MI 48762?

How have home prices in Spruce, MI 48762 changed over the past year?

What is the home price projection for Spruce, MI 48762?

What are the demographics of Spruce, MI 48762?

How long does it take homes to sell in Spruce, MI 48762?

What is the average rent price in Spruce, MI 48762?