Honor, MI—49640
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Honor, MI
As of Nov '25, the median home price in Honor, MI is $384,000, with a year-over-year change of -1.8%. This indicates that home prices in Honor, MI are decreasing. According to Zillow, the 1-year price projection is 4.3%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $384,000 | -1.8% |
| Single Family | $385,000 | -2.0% |
| 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 | $414,000 | 1.0% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Honor, MI
Honor, MI lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $850 | $900 |
| Studio Rent | $850 | $850 |
| 1 Bed Rent | $950 | $950 |
| 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 — Honor, MI
As of Nov '25, Realtor.com reports that the median days on market for a home in Honor, MI is 71. This is a increase of 25.0% 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 0.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $510,000 | -10.0% |
Listing Count | 10 | 52.0% |
| Listings as % of Homes | 0.1% | 52.0% |
Days on Market | 71 | 25.0% |
Demographics — Honor, MI
As of the latest ACS Survey released in 2023, Honor, MI has a population of 1,270, which has decreased by -20.0% over the past 5 years. Honor, MI is a less popular place for families, as children make up 10.3% of the population. The area has a moderately educated workforce, with 41.5% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 21.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 1,270 | -20.0% |
% Under 18 | 10.3% | -25.4% |
% Seniors | 37.4% | 18.0% |
% WFH | 21.9% | 305.6% |
% w/ College Degree | 41.5% | 54.9% |
As of the latest ACS Survey released in 2023, Honor, MI is a predominantly white area, with 92.9% of the population identifying as white. The white population has grown by 2.3% in the last 5 years. The second most common race or ethnicity in Honor, MI is hispanic, making up 1.6% of the population. Foreign-born residents account for 1.1% of the population in Honor, MI, and this percentage has decreased by 56.0% 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 | 92.9% | 2.3% |
% Black | 0.0% | -100.0% |
% Hispanic | 1.6% | -63.6% |
% Asian | 0.0% | -100.0% |
% Foreign Born | 1.1% | -56.0% |
Mortgage and Risk — Honor, MI
According to HUD data as of 2023, there were 42 mortgage originations in Honor, MI, of which 79.0% of loans were conventional mortgages. The average loan-to-value was 65.0%, with 24.0% above 90% LTV (very high). This implies large mortgage risk in Honor, MI. Investor activity is low, as 7.0% 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 | 42 |
% Conventional Loans | 79.0% |
% Government Loans | 21.0% |
% Investor Loans | 7.0% |
% Second Loans | 17.0% |
% Cash Out Refinance | 24.0% |
Rentals and Section 8 — Honor, MI
Honor, MI lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 3 |
Total Units Section 8 | 3 |
% 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 | -$50 | $950 | $900 |
| 2 Bedroom | N/A | N/A | $1,160 |
| 3 Bedroom | N/A | N/A | $1,400 |
| 4 Bedroom | N/A | N/A | $1,540 |
Affordability — Honor, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.2 |
| Median Home Price | $384,000 |
| Median Household Income | $83,800 |