Bay County, Michigan Housing Market
In Bay County, Michigan, the median home value is $152,200, with a median monthly rent of $860. This places Bay County at #2191 nationally out of 3134 counties by median home value, and #68 within Michigan.
📈 Price Trend (2017 → 2024)
📊 Recent Market Momentum (FHFA HPI)
FHFA House Price Index — All-Transactions, Annual (2000 = 100) · Latest: 2025
📍 Economic Snapshot
Employment & Wages
- Avg weekly wage: $1,096
- Establishments: 2,068
- BLS QCEW, 2025
Housing Supply
- Single-family: 38
- Multi-family: 29
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 46,844 (avg $65,050)
- Outflow: 45,437 (avg $65,359)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 10 active ZIP codes in Bay County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 48652 | 186.9 | — | 2025 |
| 2 | 48634 | 198.6 | +11.49% | 2025 |
| 3 | 48747 | 214.0 | -2.04% | 2025 |
| 4 | 48757 | 181.0 | +10.52% | 2025 |
| 5 | 48706 | 180.7 | +7.15% | 2025 |
| 6 | 48708 | 165.2 | +2.81% | 2025 |
| 7 | 48623 | 187.1 | +8.17% | 2025 |
| 8 | 48642 | 197.0 | +5.75% | 2025 |
| 9 | 48604 | 179.7 | +5.64% | 2025 |
| 10 | 48631 | 214.0 | +8.83% | 2025 |
Source: FHFA HPI for Five-Digit ZIP Codes (All-Transactions Index, 2000 = 100).
This product uses FHFA Data but is neither endorsed nor certified by FHFA.
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💰 Mortgage Guide → 🧾 Property Tax Data →How Bay County Compares
| Metric | Bay County | Michigan Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $152,200 | $197,292 | $227,706 |
| Median Gross Rent | $860 | $905 | $968 |
| Owner Occupancy Rate | 77.0% | 80.2% | 73.3% |
| Price/Rent Ratio | 14.7 | 17.9 | 18.7 |
Market Analysis
The median home value in Bay County is 22.9% below the Michigan state average and 33.2% below the U.S. national average. The median rent of $860/month is 5.0% below the state average.
With a price-to-rent ratio of 14.7, buying a home in Bay County is generally more favorable than renting for those planning to stay long-term. A ratio below 15 typically signals that purchasing is financially advantageous over a multi-year horizon.
Bay County has an owner-occupancy rate of 77.0%, compared to 80.2% in Michigan and 73.3% nationally. This indicates a more homeowner-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Cherry County | Nebraska | $152,200 | $916 |
| Covington County | Alabama | $152,100 | $746 |
| Columbia County | Arkansas | $152,100 | $649 |
| Bland County | Virginia | $152,100 | $644 |
| Grady County | Georgia | $152,400 | $779 |
Other Counties in Michigan
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Menominee County | $151,800 | $692 | 80.7% |
| Saginaw County | $152,800 | $947 | 74.1% |
| Presque Isle County | $151,300 | $683 | 88.7% |
| Dickinson County | $153,300 | $797 | 82.4% |
| Arenac County | $150,600 | $761 | 86.2% |
Data Source: U.S. Census Bureau, American Community Survey (ACS) 2024 5-Year Estimates (2017–2024). Variables: B25077 (Median Home Value), B25064 (Median Gross Rent), B25003 (Tenure). Data collected on 2026-10-14. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).