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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Bay City, MI Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2024. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Bay City, MI Housing Market Trends

With a population of 32,268, 14,379 total housing units (homes and apartments), and a median house value of $113,694, house prices in Bay City are some of the most affordable in Michigan as well as the nation.

Single-family detached homes are the single most common housing type in Bay City, accounting for 73.01% of the city's housing units. Other types of housing that are prevalent in Bay City include duplexes, homes converted to apartments or other small apartment buildings ( 12.46%), large apartment complexes or high rise apartments ( 9.67%), and a few row houses and other attached homes ( 3.72%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Bay City. Owner-occupied housing accounts for 66.30% of Bay City's homes, and 56.51% have either three or four bedrooms, which is average sized relative to America.

The housing in Bay City was primarily built before 1939 ( 49.81%), making the housing stock in Bay City some of the oldest overall in America, although there is a range of ages of homes in Bay City. The next most important housing age is between 1940-1969 ( 34.42%), followed by between 1970-1999 ( 13.59%). There's also some housing in Bay City built between 2000 and later ( 2.18%).

Bay City Home Appreciation Rates

Real estate appreciation rates in Bay City's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.80% during the period.

Over the last year, Bay City appreciation rates have trailed the rest of the nation. In the last twelve months, Bay City's appreciation rate has been 2.42%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Bay City were at 2.03%, which equates to an annual appreciation rate of 8.35%.

Relative to Michigan, our data show that Bay City's latest annual appreciation rate is lower than 80% of the other cities and towns in Michigan.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Bay City differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Bay City - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Bay City real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$113,694

Bay City, MI Home Prices
> $1,294,000
$970,001 - $1,294,000
$647,001 - $970,000
$517,001 - $647,000
$388,001 - $517,000
$259,001 - $388,000
$129,001 - $259,000
$65,001 - $129,000
$0 - $65,000
0.0%
0.0%
0.1%
0.1%
0.4%
0.4%
0.7%
0.7%
1.4%
1.4%
4.3%
4.3%
22.7%
22.7%
55.5%
55.5%
14.8%
14.8%
0% 100.0%
% of Homes
Very Low

for Michigan

Very Low

for nation

Number of Homes And Apartments:

14,379

Bay City Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,273 / per month

Homeownership Rate

Owners
Renters
66.3%
66.3%
33.7%
33.7%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
9.5%
9.5%
90.5%
90.5%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
2.2%
2.2%
13.6%
13.6%
34.4%
34.4%
49.8%
49.8%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
73.0%
73.0%
3.7%
3.7%
12.5%
12.5%
9.7%
9.7%
1.1%
1.1%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
1.1%
1.1%
15.0%
15.0%
23.5%
23.5%
39.3%
39.3%
17.2%
17.2%
3.9%
3.9%
0% 100.0%
% of Homes