Manistee, MI—49660
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Manistee, MI
Manistee, MI lacks sufficient home price data for analysis.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $247,000 | 1.8% |
| Single Family | $239,000 | 2.6% |
| Condos | $360,000 | 4.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $243,000 | 3.0% |
3 Bed | $258,000 | 3.2% |
4 Bed | $303,000 | 2.0% |
| 5 Bed | $370,000 | 2.5% |
% of Housing Stock
Rental Trends — Manistee, MI
As of July '25, Rentcast reports the average rent in Manistee, MI is $1,020, with a year-over-year rent change of 5.0%. Per bedroom, the median rent as of July '25 in Manistee, MI is studios: $900, 1-bedrooms: $872, 2-bedrooms: $1,080, 3-bedrooms: $1,180. The most common rental property sizes in Manistee, MI are 2-bedroom and 1-bedroom, accounting for 53.1% and 29.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $950 | $1,020 |
| Studio Rent | $900 | $900 |
| 1 Bed Rent | $845 | $872 |
| 2 Bed Rent | $950 | $1,080 |
| 3 Bed Rent | $1,000 | $1,180 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Manistee, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Manistee, MI is 57. This is a increase of 26.0% 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 35.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $315,000 | 5.0% |
Listing Count | 79 | 12.0% |
| Listings as % of Homes | 0.7% | 12.0% |
Days on Market | 57 | 26.0% |
Demographics — Manistee, MI
As of the latest ACS Survey released in 2023, Manistee, MI has a population of 14,500, which has increased by 1.2% over the past 5 years. Manistee, MI is a moderately popular place for families, as children make up 15.9% of the population. The area has a poorly educated workforce, with 24.4% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 14,500 | 1.2% |
% Under 18 | 15.9% | -8.1% |
% Seniors | 27.1% | 18.3% |
% WFH | 9.7% | 185.3% |
% w/ College Degree | 24.4% | 19.0% |
As of the latest ACS Survey released in 2023, Manistee, MI is a predominantly white area, with 84.1% of the population identifying as white. The white population has shrunk by 2.7% in the last 5 years. The second most common race or ethnicity in Manistee, MI is black, making up 5.5% of the population. Foreign-born residents account for 2.7% of the population in Manistee, MI, and this percentage has increased by 50.0% 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 | 84.1% | -2.7% |
% Black | 5.5% | 44.7% |
% Hispanic | 4.4% | 37.5% |
% Asian | 0.7% | 0.0% |
% Foreign Born | 2.7% | 50.0% |
Mortgage and Risk — Manistee, MI
According to HUD data as of 2023, there were 215 mortgage originations in Manistee, MI, of which 77.0% of loans were conventional mortgages. The average loan-to-value was 69.0%, with 27.0% above 90% LTV (very high). This implies large mortgage risk in Manistee, MI. Investor activity is low, as 4.0% 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 | 215 |
% Conventional Loans | 77.0% |
% Government Loans | 23.0% |
% Investor Loans | 4.0% |
% Second Loans | 13.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — Manistee, MI
Manistee, MI lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 261 |
Total Units Section 8 | 214 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 92.2% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$105 | $845 | $740 |
| 2 Bedroom | $20 | $950 | $970 |
| 3 Bedroom | $220 | $1,000 | $1,220 |
| 4 Bedroom | N/A | N/A | $1,290 |
Affordability — Manistee, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.7 |
| Median Home Price | $247,000 |
| Median Household Income | $62,200 |