Ludington, MI—49431
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Ludington, MI
As of Oct '25, the median home price in Ludington, MI is $289,000, with a year-over-year change of -2.6%. This indicates that home prices in Ludington, MI are decreasing. According to Zillow, the 1-year price projection is 1.7%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $289,000 | -2.6% |
| Single Family | $285,000 | -3.1% |
| Condos | $375,000 | 2.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $251,000 | -0.4% |
3 Bed | $305,000 | 0.0% |
4 Bed | $370,000 | 0.8% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Ludington, MI
As of July '25, Rentcast reports the average rent in Ludington, MI is $742, with a year-over-year rent change of -53.0%. Per bedroom, the median rent as of July '25 in Ludington, MI is 1-bedrooms: $742. The most common rental property sizes in Ludington, MI are 2-bedroom and 1-bedroom, accounting for 41.2% and 31.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $685 | $742 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $685 | $742 |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Ludington, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Ludington, MI is 70. This is a increase of 18.0% 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 46.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $382,000 | 8.0% |
Listing Count | 82 | 11.0% |
| Listings as % of Homes | 0.4% | 11.0% |
Days on Market | 70 | 18.0% |
Demographics — Ludington, MI
As of the latest ACS Survey released in 2023, Ludington, MI has a population of 17,000, which has decreased by -2.2% over the past 5 years. Ludington, MI is a moderately popular place for families, as children make up 19.3% of the population. The area has a moderately educated workforce, with 29.1% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 17,000 | -2.2% |
% Under 18 | 19.3% | -3.0% |
% Seniors | 28.1% | 16.6% |
% WFH | 10.0% | 177.8% |
% w/ College Degree | 29.1% | 8.6% |
As of the latest ACS Survey released in 2023, Ludington, MI is a predominantly white area, with 90.3% of the population identifying as white. The white population has shrunk by 1.6% in the last 5 years. The second most common race or ethnicity in Ludington, MI is hispanic, making up 4.1% of the population. Foreign-born residents account for 1.2% of the population in Ludington, MI, and this percentage has decreased by 53.8% 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 | 90.3% | -1.6% |
% Black | 1.7% | 112.5% |
% Hispanic | 4.1% | -4.7% |
% Asian | 0.5% | -28.6% |
% Foreign Born | 1.2% | -53.8% |
Mortgage and Risk — Ludington, MI
According to HUD data as of 2023, there were 190 mortgage originations in Ludington, MI, of which 85.0% of loans were conventional mortgages. The average loan-to-value was 59.0%, with 18.0% above 90% LTV (elevated). This implies medium mortgage risk in Ludington, MI. Investor activity is low, as 3.0% 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 | 190 |
% Conventional Loans | 85.0% |
% Government Loans | 15.0% |
% Investor Loans | 3.0% |
% Second Loans | 14.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — Ludington, MI
Ludington, MI lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 324 |
Total Units Section 8 | 300 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 92.4% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $75 | $685 | $760 |
| 2 Bedroom | N/A | N/A | $980 |
| 3 Bedroom | N/A | N/A | $1,280 |
| 4 Bedroom | N/A | N/A | $1,320 |
Affordability — Ludington, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.5 |
| Median Home Price | $289,000 |
| Median Household Income | $63,300 |