Ingham County, Michigan Housing Market
In Ingham County, Michigan, the median home value is $198,800, with a median monthly rent of $1,084. This places Ingham County at #1413 nationally out of 3134 counties by median home value, and #27 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: $1,262
- Establishments: 6,775
- BLS QCEW, 2025
Housing Supply
- Single-family: 252
- Multi-family: 306
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 108,943 (avg $79,027)
- Outflow: 105,485 (avg $80,173)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 10 active ZIP codes in Ingham County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 48910 | 193.1 | +5.61% | 2025 |
| 2 | 48915 | 189.6 | +2.77% | 2025 |
| 3 | 48895 | 180.1 | -4.65% | 2025 |
| 4 | 48819 | 169.7 | -3.74% | 2025 |
| 5 | 48912 | 194.6 | +8.40% | 2025 |
| 6 | 48872 | 199.4 | +3.05% | 2025 |
| 7 | 48892 | 173.7 | +4.95% | 2025 |
| 8 | 49251 | 187.7 | +5.88% | 2025 |
| 9 | 48864 | 184.1 | +5.10% | 2025 |
| 10 | 48854 | 192.1 | +7.86% | 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 Ingham County Compares
| Metric | Ingham County | Michigan Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $198,800 | $197,292 | $227,706 |
| Median Gross Rent | $1,084 | $905 | $968 |
| Owner Occupancy Rate | 59.5% | 80.2% | 73.3% |
| Price/Rent Ratio | 15.3 | 17.9 | 18.7 |
Market Analysis
The median home value in Ingham County is 0.8% above the Michigan state average and 12.7% below the U.S. national average. The median rent of $1,084/month is 19.8% above the state average.
With a price-to-rent ratio of 15.3, the buy-vs-rent decision in Ingham County is balanced. Whether buying or renting makes more sense depends on your time horizon, down payment capacity, and local market conditions.
Ingham County has an owner-occupancy rate of 59.5%, compared to 80.2% in Michigan and 73.3% nationally. This indicates a more renter-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Grundy County | Iowa | $198,800 | $774 |
| Ray County | Missouri | $198,800 | $782 |
| Franklin County | Kansas | $198,700 | $1,042 |
| Taylor County | Texas | $198,600 | $1,159 |
| Cullman County | Alabama | $199,100 | $908 |
Other Counties in Michigan
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Ionia County | $198,500 | $884 | 77.3% |
| Muskegon County | $198,300 | $1,028 | 78.1% |
| Lenawee County | $196,800 | $987 | 79.6% |
| Midland County | $195,400 | $1,016 | 78.1% |
| Jackson County | $193,700 | $985 | 75.0% |
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).