Michigan Center, MI—49254
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Michigan Center, MI
As of Oct '25, the median home price in Michigan Center, MI is $204,000, with a year-over-year change of 5.0%. This indicates that home prices in Michigan Center, MI are increasing. According to Zillow, the 1-year price projection is 1.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $204,000 | 5.0% |
| Single Family | $204,000 | 5.7% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $172,000 | 3.6% |
3 Bed | $220,000 | 6.3% |
4 Bed | $252,000 | 4.1% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Michigan Center, MI
As of July '25, Rentcast reports the average rent in Michigan Center, MI is $1,270, with a year-over-year rent change of -8.0%. Per bedroom, the median rent as of July '25 in Michigan Center, MI is 1-bedrooms: $1,100, 2-bedrooms: $1,130, 3-bedrooms: $2,000. The most common rental property sizes in Michigan Center, MI are 3-bedroom and 2-bedroom, accounting for 59.7% and 17.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,100 | $1,270 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,100 | $1,100 |
| 2 Bed Rent | $1,200 | $1,130 |
| 3 Bed Rent | $2,000 | $2,000 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Michigan Center, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Michigan Center, MI is 111. This is a increase of 129.0% 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 29.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $266,000 | 28.0% |
Listing Count | 14 | 13.0% |
| Listings as % of Homes | 0.4% | 13.0% |
Days on Market | 111 | 129.0% |
Demographics — Michigan Center, MI
As of the latest ACS Survey released in 2023, Michigan Center, MI has a population of 3,620, which has increased by 32.5% over the past 5 years. Michigan Center, MI is a moderately popular place for families, as children make up 21.0% of the population. The area has a poorly educated workforce, with 22.4% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 3,620 | 32.5% |
% Under 18 | 21.0% | 16.0% |
% Seniors | 15.4% | -32.2% |
% WFH | 9.0% | 200.0% |
% w/ College Degree | 22.4% | 16.1% |
As of the latest ACS Survey released in 2023, Michigan Center, MI is a predominantly white area, with 92.0% of the population identifying as white. The white population has grown by 3.3% in the last 5 years. The second most common race or ethnicity in Michigan Center, MI is hispanic, making up 3.0% of the population. Foreign-born residents account for 0.2% of the population in Michigan Center, MI, and this percentage has decreased by 85.7% 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 | 92.0% | 3.3% |
% Black | 0.7% | -58.8% |
% Hispanic | 3.0% | -47.4% |
% Asian | 0.0% | N/A |
% Foreign Born | 0.2% | -85.7% |
Mortgage and Risk — Michigan Center, MI
According to HUD data as of 2023, there were 81 mortgage originations in Michigan Center, MI, of which 89.0% of loans were conventional mortgages. The average loan-to-value was 59.0%, with 20.0% above 90% LTV (very high). This implies large mortgage risk in Michigan Center, MI. Investor activity is low, as 1.0% 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 | 81 |
% Conventional Loans | 89.0% |
% Government Loans | 11.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 16.0% |
Loan Activity
Rentals and Section 8 — Michigan Center, MI
Michigan Center, MI lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 5 |
Total Units Section 8 | 5 |
% Rentals under Section 8 | 2.5% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$200 | $1,100 | $900 |
| 2 Bedroom | -$100 | $1,200 | $1,100 |
| 3 Bedroom | -$540 | $2,000 | $1,460 |
| 4 Bedroom | N/A | N/A | $1,630 |
Affordability — Michigan Center, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.3 |
| Median Home Price | $204,000 |
| Median Household Income | $73,800 |