Homer, MI—49245
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Homer, MI
As of Nov '25, the median home price in Homer, MI is $140,000, with a year-over-year change of 6.0%. This indicates that home prices in Homer, MI are increasing. According to Zillow, the 1-year price projection is 2.7%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $140,000 | 6.0% |
| Single Family | $140,000 | 5.3% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | $184,000 | 2.2% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Homer, MI
Homer, MI lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $950 | $950 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $950 | $950 |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Homer, MI
As of Nov '25, Realtor.com reports that the median days on market for a home in Homer, MI is 72. This is a increase of 1.0% from last year, suggesting that homes are sitting on the market about the same amount of time than last year. The percentage of listed homes with a reduced price is 0.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $145,000 | 13.0% |
Listing Count | 10 | 21.0% |
| Listings as % of Homes | 0.3% | 21.0% |
Days on Market | 72 | 1.0% |
Demographics — Homer, MI
As of the latest ACS Survey released in 2023, Homer, MI has a population of 4,470, which has decreased by -6.5% over the past 5 years. Homer, MI is a moderately popular place for families, as children make up 23.8% of the population. The area has a poorly educated workforce, with 11.4% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 4.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 4,470 | -6.5% |
% Under 18 | 23.8% | -2.5% |
% Seniors | 17.3% | 8.8% |
% WFH | 4.8% | -21.3% |
% w/ College Degree | 11.4% | -18.0% |
As of the latest ACS Survey released in 2023, Homer, MI is a predominantly white area, with 94.2% of the population identifying as white. The white population has grown by 0.2% in the last 5 years. The second most common race or ethnicity in Homer, MI is hispanic, making up 1.9% of the population. Foreign-born residents account for 0.5% of the population in Homer, MI, and this percentage has decreased by 54.5% 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 | 94.2% | 0.2% |
% Black | 0.6% | 100.0% |
% Hispanic | 1.9% | -34.5% |
% Asian | 0.2% | ∞% |
% Foreign Born | 0.5% | -54.5% |
Mortgage and Risk — Homer, MI
According to HUD data as of 2023, there were 66 mortgage originations in Homer, MI, of which 79.0% of loans were conventional mortgages. The average loan-to-value was 63.0%, with 33.0% above 90% LTV (very high). This implies large mortgage risk in Homer, MI. Investor activity is low, as 0.0% of loans were by investors. 24.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 66 |
% Conventional Loans | 79.0% |
% Government Loans | 21.0% |
% Investor Loans | 0.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 24.0% |
Rentals and Section 8 — Homer, MI
Homer, MI lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 22 |
Total Units Section 8 | 22 |
% Rentals under Section 8 | 6.9% |
% Occupied Section 8 | 92.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $870 |
| 2 Bedroom | $110 | $950 | $1,060 |
| 3 Bedroom | N/A | N/A | $1,280 |
| 4 Bedroom | N/A | N/A | $1,460 |
Affordability — Homer, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2 |
| Median Home Price | $140,000 |
| Median Household Income | $59,500 |