Saginaw, Michigan Housing Market Prices
Saginaw 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 72% below the Michigan median$39,424
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Median rent 18% below the Michigan median$921
Housing Market Overview
| Metric | Saginaw | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $39,424 | $138,713 | $248,835 |
| Price Trend (Annual %) | -1.3% | 8.6% | 7.5% |
| Median Gross Rent | $921 | $1,129 | $1,407 |
| Rent Trend (Annual %) | 4.7% | 4.5% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Saginaw is about 72% lower than in Michigan. Rent is about 18% lower than the Michigan average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Home prices and rent are moving in opposite directions in Saginaw: home prices fell about 1.3% a year while rent rose about 4.7% a year. That is an unusual pattern worth watching.
Median rent in Saginaw rose about 41.7% between 2015 and 2024, from $650 to $921. Over the same span, rent in Michigan rose about 44.2%.
Affordability
On average, housing unit costs 1.0 yearly household incomes in Saginaw.
Buying the median-priced home in Saginaw costs roughly 3.6 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 Saginaw. The price-to-rent ratio in Michigan is about 10.2.
| Metric | Saginaw | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $39,424 | $138,713 | $248,835 |
| Median Household Income | $38,361 | $72,977 | $80,455 |
| Price-to-Income Ratio | 1.0 | 1.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Saginaw fell about 11.5%, while median household income rose about 28.8% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Saginaw | Michigan Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 50.8% | 64.6% | 58.5% |
| Rental Rate | 33.7% | 23.6% | 31.2% |
| Vacancy Rate | 15.5% | 11.8% | 10.2% |
| Median Tenure (years) | 14.0 | 16.0 | 15.0 |
| Median Year Moved In | 2012 | 2010 | 2011 |
Saginaw has a homeownership rate of 50.8%, lower than the Michigan average of 64.6%. Its housing vacancy rate is 15.5%, compared with 11.8% in Michigan.
Housing Stock
| Metric | Saginaw | Michigan Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.38 people | 2.42 people | 2.53 people |
| Median Structure Built Year | 1949 | 1972 | 1978 |
| Median Number of Rooms | 5.7 | 5.9 | 5.5 |
The typical housing unit in Saginaw was built around 1949. On average, 2.4 people live in a home with about 5.7 rooms, staying for about 14.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Saginaw, Michigan.
What is the median home price in Saginaw, Michigan?
The median home price in Saginaw, Michigan is $39,424, lower than the Michigan average of $138,713.
What is the average home price in Saginaw, Michigan?
The typical home price in Saginaw, Michigan, reported as the median sale price, is $39,424. 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 Saginaw, Michigan?
The median gross rent in Saginaw, Michigan is $921 per month, lower than the Michigan average of $1,129.
What was the median gross rent in Saginaw in 2020?
In 2020, the median gross rent in Saginaw, Michigan was $746 per month.
What is the price-to-rent ratio in Saginaw, Michigan?
The price-to-rent ratio in Saginaw, Michigan is about 3.6, meaning it would take roughly 3.6 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 Saginaw.
Are home prices or rent rising faster in Saginaw, Michigan?
Home prices and rent are moving in opposite directions in Saginaw: home prices fell about 1.3% a year while rent rose about 4.7% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Saginaw, Michigan?
50.8% of households in Saginaw, Michigan own their home, lower than the Michigan average of 64.6%.
What is the vacancy rate in Saginaw, Michigan?
The housing vacancy rate in Saginaw, Michigan is 15.5%, higher than the Michigan average of 11.8%.
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