Gratiot County, Michigan Housing Market
In Gratiot County, Michigan, the median home value is $147,500, with a median monthly rent of $834. This places Gratiot County at #2273 nationally out of 3134 counties by median home value, and #73 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: $1,086
- Establishments: 766
- BLS QCEW, 2025
Housing Supply
- Single-family: 39
- Multi-family: 9
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 15,091 (avg $63,419)
- Outflow: 14,500 (avg $63,628)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 10 active ZIP codes in Gratiot County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 48871 | 208.9 | +10.55% | 2025 |
| 2 | 48811 | 226.3 | +12.83% | 2025 |
| 3 | 48889 | 277.0 | — | 2025 |
| 4 | 48615 | 226.3 | +37.00% | 2024 |
| 5 | 48847 | 219.4 | +13.60% | 2025 |
| 6 | 48801 | 206.3 | +0.16% | 2025 |
| 7 | 48877 | 241.3 | — | 2025 |
| 8 | 48880 | 188.3 | -0.22% | 2025 |
| 9 | 48637 | 189.7 | +2.92% | 2025 |
| 10 | 48883 | 226.1 | +7.78% | 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 Gratiot County Compares
| Metric | Gratiot County | Michigan Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $147,500 | $197,292 | $227,706 |
| Median Gross Rent | $834 | $905 | $968 |
| Owner Occupancy Rate | 78.9% | 80.2% | 73.3% |
| Price/Rent Ratio | 14.7 | 17.9 | 18.7 |
Market Analysis
The median home value in Gratiot County is 25.2% below the Michigan state average and 35.2% below the U.S. national average. The median rent of $834/month is 7.8% below the state average.
With a price-to-rent ratio of 14.7, buying a home in Gratiot 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.
Gratiot County has an owner-occupancy rate of 78.9%, 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 |
|---|---|---|---|
| Faulk County | South Dakota | $147,500 | $771 |
| Lincoln County | Kentucky | $147,300 | $698 |
| Livingston County | Missouri | $147,700 | $768 |
| Herkimer County | New York | $147,700 | $823 |
| Pierce County | North Dakota | $147,300 | $850 |
Other Counties in Michigan
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Tuscola County | $149,500 | $819 | 86.4% |
| Arenac County | $150,600 | $761 | 86.2% |
| Presque Isle County | $151,300 | $683 | 88.7% |
| Menominee County | $151,800 | $692 | 80.7% |
| Bay County | $152,200 | $860 | 77.0% |
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).