Reed City, MI—49677
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Reed City, MI
Reed City, MI lacks sufficient home price data for analysis.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $188,000 | 3.1% |
| Single Family | $188,000 | 3.9% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $152,000 | 2.7% |
3 Bed | $189,000 | 4.4% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Reed City, MI
As of July '25, Rentcast reports the average rent in Reed City, MI is $917, with a year-over-year rent change of 31.0%. Per bedroom, the median rent as of July '25 in Reed City, MI is 2-bedrooms: $917. The most common rental property sizes in Reed City, MI are 2-bedroom and 1-bedroom, accounting for 30.9% and 26.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $890 | $917 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $890 | $917 |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Reed City, MI
As of Nov '25, Realtor.com reports that the median days on market for a home in Reed City, MI is 45. This is a decrease of -12.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 21.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $202,000 | -18.0% |
Listing Count | 19 | -27.0% |
| Listings as % of Homes | 0.4% | -27.0% |
Days on Market | 45 | -12.0% |
Demographics — Reed City, MI
As of the latest ACS Survey released in 2023, Reed City, MI has a population of 7,290, which has remained stable by 0.4% over the past 5 years. Reed City, MI is a moderately popular place for families, as children make up 22.8% of the population. The area has a poorly educated workforce, with 17.2% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 7,290 | 0.4% |
% Under 18 | 22.8% | 0.9% |
% Seniors | 19.0% | -11.2% |
% WFH | 6.5% | 25.0% |
% w/ College Degree | 17.2% | 13.9% |
As of the latest ACS Survey released in 2023, Reed City, MI is a predominantly white area, with 91.4% of the population identifying as white. The white population has shrunk by 3.7% in the last 5 years. The second most common race or ethnicity in Reed City, MI is hispanic, making up 3.3% of the population. Foreign-born residents account for 0.6% of the population in Reed City, 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 | 91.4% | -3.7% |
% Black | 1.2% | -40.0% |
% Hispanic | 3.3% | 135.7% |
% Asian | 0.4% | 100.0% |
% Foreign Born | 0.6% | 50.0% |
Mortgage and Risk — Reed City, MI
According to HUD data as of 2023, there were 65 mortgage originations in Reed City, MI, of which 71.0% of loans were conventional mortgages. The average loan-to-value was 72.0%, with 48.0% above 90% LTV (very high). This implies large mortgage risk in Reed City, MI. Investor activity is low, as 3.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 65 |
% Conventional Loans | 71.0% |
% Government Loans | 29.0% |
% Investor Loans | 3.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 9.0% |
Rentals and Section 8 — Reed City, MI
Reed City, MI lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 157 |
Total Units Section 8 | 56 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 74.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $720 |
| 2 Bedroom | $40 | $890 | $930 |
| 3 Bedroom | N/A | N/A | $1,160 |
| 4 Bedroom | N/A | N/A | $1,390 |
Affordability — Reed City, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3 |
| Median Home Price | $188,000 |
| Median Household Income | $58,800 |