Hillsdale County, Michigan Housing Market
In Hillsdale County, Michigan, the median home value is $176,100, with a median monthly rent of $832. This places Hillsdale County at #1682 nationally out of 3134 counties by median home value, and #44 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: $1,032
- Establishments: 834
- BLS QCEW, 2025
Housing Supply
- Single-family: 92
- Multi-family: 7
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 17,813 (avg $60,655)
- Outflow: 17,000 (avg $60,674)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 10 active ZIP codes in Hillsdale County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 49266 | 164.2 | -19.50% | 2025 |
| 2 | 49220 | 193.4 | -2.57% | 2025 |
| 3 | 49271 | 168.6 | — | 2025 |
| 4 | 49246 | 220.1 | +14.99% | 2025 |
| 5 | 49232 | 251.3 | +13.55% | 2025 |
| 6 | 49262 | 197.6 | +10.03% | 2025 |
| 7 | 49233 | 200.9 | -4.88% | 2025 |
| 8 | 49249 | 226.8 | +18.06% | 2025 |
| 9 | 49242 | 208.9 | +4.97% | 2025 |
| 10 | 49250 | 201.8 | +1.35% | 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 Hillsdale County Compares
| Metric | Hillsdale County | Michigan Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $176,100 | $197,292 | $227,706 |
| Median Gross Rent | $832 | $905 | $968 |
| Owner Occupancy Rate | 82.0% | 80.2% | 73.3% |
| Price/Rent Ratio | 17.6 | 17.9 | 18.7 |
Market Analysis
The median home value in Hillsdale County is 10.7% below the Michigan state average and 22.7% below the U.S. national average. The median rent of $832/month is 8.1% below the state average.
With a price-to-rent ratio of 17.6, the buy-vs-rent decision in Hillsdale County is balanced. Whether buying or renting makes more sense depends on your time horizon, down payment capacity, and local market conditions.
Hillsdale County has an owner-occupancy rate of 82.0%, 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 |
|---|---|---|---|
| Hickory County | Missouri | $176,100 | $648 |
| Sebastian County | Arkansas | $176,200 | $886 |
| Carroll County | Iowa | $176,000 | $731 |
| Harrison County | Iowa | $176,000 | $849 |
| Buchanan County | Iowa | $176,000 | $848 |
Other Counties in Michigan
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Alger County | $176,200 | $714 | 86.3% |
| Mackinac County | $174,500 | $760 | 77.9% |
| St. Joseph County | $178,300 | $849 | 76.1% |
| Wayne County | $178,500 | $1,132 | 64.8% |
| Mecosta County | $178,900 | $934 | 76.9% |
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).