Midland, Michigan Housing Market Prices
Midland 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 6% above the Michigan median$147,014
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Median rent 8% below the Michigan median$1,037
Housing Market Overview
| Metric | Midland | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $147,014 | $138,713 | $248,835 |
| Price Trend (Annual %) | 13.1% | 8.6% | 7.5% |
| Median Gross Rent | $1,037 | $1,129 | $1,407 |
| Rent Trend (Annual %) | 4.3% | 4.5% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Midland is about 6% higher than in Michigan. Rent is about 8% 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 Midland, up about 13.1% and 4.3% a year respectively. Home prices are changing faster.
Median rent in Midland rose about 42.3% between 2015 and 2024, from $729 to $1,037. Over the same span, rent in Michigan rose about 44.2%.
Affordability
On average, housing unit costs 2.0 yearly household incomes in Midland.
Buying the median-priced home in Midland costs roughly 11.8 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 Midland. The price-to-rent ratio in Michigan is about 10.2.
| Metric | Midland | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $147,014 | $138,713 | $248,835 |
| Median Household Income | $74,694 | $72,977 | $80,455 |
| Price-to-Income Ratio | 2.0 | 1.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Midland rose about 112.1%, while median household income rose about 37.6% 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 | Midland | Michigan Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 65.0% | 64.6% | 58.5% |
| Rental Rate | 29.8% | 23.6% | 31.2% |
| Vacancy Rate | 5.1% | 11.8% | 10.2% |
| Median Tenure (years) | 12.0 | 16.0 | 15.0 |
| Median Year Moved In | 2014 | 2010 | 2011 |
Midland has a homeownership rate of 65.0%, about the same as the Michigan average of 64.6%. Its housing vacancy rate is 5.1%, compared with 11.8% in Michigan.
Housing Stock
| Metric | Midland | Michigan Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.28 people | 2.42 people | 2.53 people |
| Median Structure Built Year | 1970 | 1972 | 1978 |
| Median Number of Rooms | 6.0 | 5.9 | 5.5 |
The typical housing unit in Midland was built around 1970. On average, 2.3 people live in a home with about 6.0 rooms, staying for about 12.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Midland, Michigan.
What is the median home price in Midland, Michigan?
The median home price in Midland, Michigan is $147,014, higher than the Michigan average of $138,713.
What is the average home price in Midland, Michigan?
The typical home price in Midland, Michigan, reported as the median sale price, is $147,014. 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 Midland, Michigan?
The median gross rent in Midland, Michigan is $1,037 per month, lower than the Michigan average of $1,129.
What was the median gross rent in Midland in 2020?
In 2020, the median gross rent in Midland, Michigan was $804 per month.
What is the price-to-rent ratio in Midland, Michigan?
The price-to-rent ratio in Midland, Michigan is about 11.8, meaning it would take roughly 11.8 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 Midland.
Are home prices or rent rising faster in Midland, Michigan?
Both home prices and rent are rising in Midland, up about 13.1% and 4.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in Midland, Michigan?
65.0% of households in Midland, Michigan own their home, higher than the Michigan average of 64.6%.
What is the vacancy rate in Midland, Michigan?
The housing vacancy rate in Midland, Michigan is 5.1%, lower than the Michigan average of 11.8%.
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