Benton Harbor, MI—49022
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Benton Harbor, MI
As of Oct '25, the median home price in Benton Harbor, MI is $148,000, with a year-over-year change of -3.4%. This indicates that home prices in Benton Harbor, MI are decreasing. According to Zillow, the 1-year price projection is 2.3%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $148,000 | -3.4% |
| Single Family | $150,000 | -2.0% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $139,000 | 0.0% |
3 Bed | $204,000 | 2.0% |
4 Bed | $263,000 | 1.9% |
| 5 Bed | $348,000 | 0.6% |
% of Housing Stock
Rental Trends — Benton Harbor, MI
As of July '25, Rentcast reports the average rent in Benton Harbor, MI is $1,460, with a year-over-year rent change of 12.3%. Per bedroom, the median rent as of July '25 in Benton Harbor, MI is 1-bedrooms: $809, 2-bedrooms: $1,000, 3-bedrooms: $1,400, 4-bedrooms: $2,140. The most common rental property sizes in Benton Harbor, MI are 2-bedroom and 3-bedroom, accounting for 35.8% and 28.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,050 | $1,460 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $809 | $809 |
| 2 Bed Rent | $1,000 | $1,000 |
| 3 Bed Rent | $981 | $1,400 |
| 4 Bed Rent | $1,880 | $2,140 |
% of Rental Stock
Property Listings — Benton Harbor, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Benton Harbor, MI is 42. This is a decrease of -15.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 27.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $230,000 | -2.0% |
Listing Count | 104 | 11.0% |
| Listings as % of Homes | 0.5% | 11.0% |
Days on Market | 42 | -15.0% |
Demographics — Benton Harbor, MI
As of the latest ACS Survey released in 2023, Benton Harbor, MI has a population of 29,800, which has decreased by -4.4% over the past 5 years. Benton Harbor, MI is a popular place for families, as children make up 26.4% of the population. The area has a poorly educated workforce, with 18.0% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 29,800 | -4.4% |
% Under 18 | 26.4% | 1.9% |
% Seniors | 15.3% | -1.3% |
% WFH | 7.9% | 243.5% |
% w/ College Degree | 18.0% | 38.5% |
As of the latest ACS Survey released in 2023, Benton Harbor, MI is a predominantly black area, with 50.5% of the population identifying as black. The black population has shrunk by 2.9% in the last 5 years. The second most common race or ethnicity in Benton Harbor, MI is white, making up 36.6% of the population. Foreign-born residents account for 2.8% of the population in Benton Harbor, MI, and this percentage has decreased by 12.5% 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 | 36.6% | -2.4% |
% Black | 50.5% | -2.9% |
% Hispanic | 6.8% | -9.3% |
% Asian | 0.5% | 25.0% |
% Foreign Born | 2.8% | -12.5% |
Mortgage and Risk — Benton Harbor, MI
According to HUD data as of 2023, there were 416 mortgage originations in Benton Harbor, MI, of which 83.0% of loans were conventional mortgages. The average loan-to-value was 59.0%, with 26.0% above 90% LTV (very high). This implies large mortgage risk in Benton Harbor, MI. Investor activity is low, as 2.0% 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 | 416 |
% Conventional Loans | 83.0% |
% Government Loans | 17.0% |
% Investor Loans | 2.0% |
% Second Loans | 3.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — Benton Harbor, MI
As of 2024, the percent of homes in Benton Harbor, MI under the Section 8 program is 24.6%. 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. 2-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Benton Harbor, MI, because HUD payments exceed market rent, while 1-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 2,049 |
Total Units Section 8 | 1,289 |
% Rentals under Section 8 | 24.6% |
% Occupied Section 8 | 87.1% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$39 | $809 | $770 |
| 2 Bedroom | $10 | $1,000 | $1,010 |
| 3 Bedroom | $319 | $981 | $1,300 |
| 4 Bedroom | -$540 | $1,880 | $1,340 |
Affordability — Benton Harbor, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.7 |
| Median Home Price | $148,000 |
| Median Household Income | $39,900 |