Three Rivers, MI—49093
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Three Rivers, MI
As of Oct '25, the median home price in Three Rivers, MI is $217,000, with a year-over-year change of 2.0%. This indicates that home prices in Three Rivers, MI are increasing. According to Zillow, the 1-year price projection is 0.4%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $217,000 | 2.0% |
| Single Family | $217,000 | 1.9% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $152,000 | 2.7% |
3 Bed | $210,000 | 2.9% |
4 Bed | $237,000 | 2.6% |
| 5 Bed | $299,000 | 1.7% |
% of Housing Stock
Rental Trends — Three Rivers, MI
As of July '25, Rentcast reports the average rent in Three Rivers, MI is $1,760, with a year-over-year rent change of 12.1%. Per bedroom, the median rent as of July '25 in Three Rivers, MI is 1-bedrooms: $862, 4-bedrooms: $2,020. The most common rental property sizes in Three Rivers, MI are 2-bedroom and 1-bedroom, accounting for 34.5% and 27.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,000 | $1,760 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $775 | $862 |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | $2,000 | $2,020 |
% of Rental Stock
Property Listings — Three Rivers, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Three Rivers, MI is 50. This is a decrease of -3.0% 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 28.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $261,000 | -11.0% |
Listing Count | 85 | -2.0% |
| Listings as % of Homes | 0.5% | -2.0% |
Days on Market | 50 | -3.0% |
Demographics — Three Rivers, MI
As of the latest ACS Survey released in 2023, Three Rivers, MI has a population of 18,400, which has remained stable by 0.3% over the past 5 years. Three Rivers, MI is a moderately popular place for families, as children make up 23.0% of the population. The area has a poorly educated workforce, with 20.3% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 18,400 | 0.3% |
% Under 18 | 23.0% | -8.0% |
% Seniors | 21.0% | 22.8% |
% WFH | 5.5% | 48.6% |
% w/ College Degree | 20.3% | 5.2% |
As of the latest ACS Survey released in 2023, Three Rivers, MI is a predominantly white area, with 84.3% of the population identifying as white. The white population has grown by 0.1% in the last 5 years. The second most common race or ethnicity in Three Rivers, MI is black, making up 5.3% of the population. Foreign-born residents account for 2.2% of the population in Three Rivers, 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 | 84.3% | 0.1% |
% Black | 5.3% | -7.0% |
% Hispanic | 5.3% | 17.8% |
% Asian | 0.7% | -30.0% |
% Foreign Born | 2.2% | 0.0% |
Mortgage and Risk — Three Rivers, MI
According to HUD data as of 2023, there were 343 mortgage originations in Three Rivers, MI, of which 79.0% of loans were conventional mortgages. The average loan-to-value was 67.0%, with 30.0% above 90% LTV (very high). This implies large mortgage risk in Three Rivers, MI. Investor activity is low, as 1.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 343 |
% Conventional Loans | 79.0% |
% Government Loans | 21.0% |
% Investor Loans | 1.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Three Rivers, MI
Three Rivers, MI lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 199 |
Total Units Section 8 | 182 |
% Rentals under Section 8 | 9.2% |
% Occupied Section 8 | 89.4% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$55 | $775 | $720 |
| 2 Bedroom | N/A | N/A | $940 |
| 3 Bedroom | N/A | N/A | $1,290 |
| 4 Bedroom | -$600 | $2,000 | $1,400 |
Affordability — Three Rivers, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.1 |
| Median Home Price | $217,000 |
| Median Household Income | $63,000 |