Bay County, Michigan Housing Market Prices
Bay County Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 25% below the Michigan median Cheaper than 76% of counties in Michigan$104,654
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Median rent 24% below the Michigan median$860
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Bay County | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $104,654 | $138,713 | $248,835 |
| Price Trend (Annual %) | 5.4% | 8.6% | 7.5% |
| Median Gross Rent | $860 | $1,129 | $1,407 |
| Rent Trend (Annual %) | 3.5% | 4.5% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Bay County is about 25% lower than in Michigan. Rent is about 24% lower than the Michigan average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Bay County, up about 5.4% and 3.5% a year respectively. Home prices are changing faster.
Median rent in Bay County rose about 30.9% between 2015 and 2024, from $657 to $860. Over the same span, rent in Michigan rose about 44.2%.
Affordability
On average, housing unit costs 1.7 yearly household incomes in Bay County.
Buying the median-priced home in Bay County costs roughly 10.1 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Bay County. The price-to-rent ratio in Michigan is about 10.2.
| Metric | Bay County | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $104,654 | $138,713 | $248,835 |
| Median Household Income | $62,107 | $72,977 | $80,455 |
| Price-to-Income Ratio | 1.7 | 1.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Bay County rose about 42.6%, while median household income rose about 30.6% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Bay County | Michigan Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 71.4% | 64.6% | 58.5% |
| Rental Rate | 21.3% | 23.6% | 31.2% |
| Vacancy Rate | 7.3% | 11.8% | 10.2% |
| Median Tenure (years) | 18.0 | 16.0 | 15.0 |
| Median Year Moved In | 2008 | 2010 | 2011 |
Bay County has a homeownership rate of 71.4%, higher than the Michigan average of 64.6%. Its housing vacancy rate is 7.3%, compared with 11.8% in Michigan.
Housing Stock
| Metric | Bay County | Michigan Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.26 people | 2.42 people | 2.53 people |
| Median Structure Built Year | 1964 | 1972 | 1978 |
| Median Number of Rooms | 5.8 | 5.9 | 5.5 |
The typical housing unit in Bay County was built around 1964. On average, 2.3 people live in a home with about 5.8 rooms, staying for about 18.0 years on average.
Bay County, MI Housing Compared With Nearby Counties
Bay County, MI is the 2nd largest of the 6 counties compared here, 103,008 residents against a local median of 52,980. The measure that sets Bay County, MI apart most is median home price: $104,654, 23% below the local median of $135,750.
The counties themselves spread $81,466 on median home price, so Bay County, MI sits at one end of an already wide local range rather than apart from it. Bay County, MI has the 4th highest median home price of the 6 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Bay County, MI | 103,008 | $104,654 #4/6 | $860 #3/6 | 77.0% #5/6 |
| Arenac County, MI | 15,076 | $176,613 | $761 | 86.2% |
| Saginaw County, MI | 188,665 | $95,147 | $947 | 74.1% |
| Midland County, MI | 83,757 | $157,692 | $1,016 | 78.1% |
| Gladwin County, MI | 25,693 | $98,213 | $689 | 86.1% |
| Tuscola County, MI | 52,980 | $135,750 | $819 | 86.4% |
Frequently Asked Questions
Common questions about the housing market in Bay County, Michigan.
What is the median home price in Bay County, Michigan?
The median home price in Bay County, Michigan is $104,654, lower than the Michigan average of $138,713.
What is the average home price in Bay County, Michigan?
The typical home price in Bay County, Michigan, reported as the median sale price, is $104,654. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Bay County, Michigan?
The median gross rent in Bay County, Michigan is $860 per month, lower than the Michigan average of $1,129.
What was the median gross rent in Bay County in 2020?
In 2020, the median gross rent in Bay County, Michigan was $678 per month.
What is the price-to-rent ratio in Bay County, Michigan?
The price-to-rent ratio in Bay County, Michigan is about 10.1, meaning it would take roughly 10.1 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Bay County.
Are home prices or rent rising faster in Bay County, Michigan?
Both home prices and rent are rising in Bay County, up about 5.4% and 3.5% a year respectively. Home prices are changing faster.
What is the homeownership rate in Bay County, Michigan?
71.4% of households in Bay County, Michigan own their home, higher than the Michigan average of 64.6%.
What is the vacancy rate in Bay County, Michigan?
The housing vacancy rate in Bay County, Michigan is 7.3%, lower than the Michigan average of 11.8%.
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