Empire, MI—49630
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Empire, MI
Home Price Trends — Empire, MI
As of Oct '25, the median home price in Empire, MI is $600,000, with a year-over-year change of 0.3%. This indicates that home prices in Empire, MI are flat. According to Zillow, the 1-year price projection is 3.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $600,000 | 0.3% |
| Single Family | $599,000 | 0.3% |
| 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 | $616,000 | 2.2% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Empire, MI
Empire, MI lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $815 | $815 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $815 | $815 |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Empire, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Empire, MI is 75. This is a increase of 112.0% 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 36.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $786,000 | 9.0% |
Listing Count | 11 | 54.0% |
| Listings as % of Homes | 0.7% | 54.0% |
Days on Market | 75 | 112.0% |
Demographics — Empire, MI
As of the latest ACS Survey released in 2023, Empire, MI has a population of 1,480, which has increased by 6.2% over the past 5 years. Empire, MI is a less popular place for families, as children make up 12.8% of the population. The area has a highly educated workforce, with 55.8% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 19.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 1,480 | 6.2% |
% Under 18 | 12.8% | -20.0% |
% Seniors | 45.1% | 55.5% |
% WFH | 19.2% | 82.9% |
% w/ College Degree | 55.8% | 12.0% |
As of the latest ACS Survey released in 2023, Empire, MI is a predominantly white area, with 93.5% of the population identifying as white. The white population has shrunk by 4.6% in the last 5 years. The second most common race or ethnicity in Empire, MI is hispanic, making up 2.9% of the population. Foreign-born residents account for 1.2% of the population in Empire, MI, and this percentage has increased by 33.3% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 93.5% | -4.6% |
% Black | 0.3% | ∞% |
% Hispanic | 2.9% | 190.0% |
% Asian | 0.1% | 0.0% |
% Foreign Born | 1.2% | 33.3% |
Mortgage and Risk — Empire, MI
According to HUD data as of 2023, there were 73 mortgage originations in Empire, MI, of which 97.0% of loans were conventional mortgages. The average loan-to-value was 53.0%, with 8.0% above 90% LTV (normal). This implies small mortgage risk in Empire, MI. Investor activity is low, as 3.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 73 |
% Conventional Loans | 97.0% |
% Government Loans | 3.0% |
% Investor Loans | 3.0% |
% Second Loans | 37.0% |
% Cash Out Refinance | 7.0% |
Loan Activity
Rentals and Section 8 — Empire, MI
Empire, MI lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | N/A |
Total Units Section 8 | N/A |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $960 |
| 2 Bedroom | $395 | $815 | $1,210 |
| 3 Bedroom | N/A | N/A | $1,450 |
| 4 Bedroom | N/A | N/A | $1,600 |
Affordability — Empire, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.6 |
| Median Home Price | $600,000 |
| Median Household Income | $102,000 |