Lenawee County, Michigan Housing Market
In Lenawee County, Michigan, the median home value is $196,800, with a median monthly rent of $987. This places Lenawee County at #1438 nationally out of 3134 counties by median home value, and #30 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: $1,064
- Establishments: 1,878
- BLS QCEW, 2025
Housing Supply
- Single-family: 169
- Multi-family: 15
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 40,415 (avg $67,385)
- Outflow: 38,999 (avg $67,311)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 10 active ZIP codes in Lenawee County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 49238 | 158.9 | +27.86% | 2025 |
| 2 | 49235 | 190.9 | — | 2025 |
| 3 | 49256 | 146.2 | -9.22% | 2025 |
| 4 | 49228 | 198.0 | +5.95% | 2025 |
| 5 | 49265 | 197.4 | +7.75% | 2025 |
| 6 | 49287 | 180.2 | +8.79% | 2025 |
| 7 | 49253 | 278.8 | +11.54% | 2025 |
| 8 | 49268 | 155.0 | +2.78% | 2025 |
| 9 | 49236 | 178.2 | +6.34% | 2025 |
| 10 | 49267 | 184.3 | +8.75% | 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 Lenawee County Compares
| Metric | Lenawee County | Michigan Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $196,800 | $197,292 | $227,706 |
| Median Gross Rent | $987 | $905 | $968 |
| Owner Occupancy Rate | 79.6% | 80.2% | 73.3% |
| Price/Rent Ratio | 16.6 | 17.9 | 18.7 |
Market Analysis
The median home value in Lenawee County is about equal to the Michigan state average and 13.6% below the U.S. national average. The median rent of $987/month is 9.1% above the state average.
With a price-to-rent ratio of 16.6, the buy-vs-rent decision in Lenawee County is balanced. Whether buying or renting makes more sense depends on your time horizon, down payment capacity, and local market conditions.
Lenawee County has an owner-occupancy rate of 79.6%, 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 |
|---|---|---|---|
| Noble County | Indiana | $196,800 | $832 |
| Thomas County | Georgia | $196,700 | $1,018 |
| Stokes County | North Carolina | $196,700 | $775 |
| Tom Green County | Texas | $197,000 | $1,154 |
| Walker County | Georgia | $197,100 | $940 |
Other Counties in Michigan
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Midland County | $195,400 | $1,016 | 78.1% |
| Muskegon County | $198,300 | $1,028 | 78.1% |
| Ionia County | $198,500 | $884 | 77.3% |
| Ingham County | $198,800 | $1,084 | 59.5% |
| 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).