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Farwell village, MI

ZIP 48622 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Working ClassLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 48622

Median Home Value
$123,600
Median Rent
$595
Affordability Snapshot
$34,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$794/mo PITI).

12%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

2.1x
Home Price-to-Income Ratio

Below 3x — relatively affordable housing market.

17.3 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 48622 in Farwell village, MI, a household would need roughly $34,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $794. That sits below the local median household income ($57,500), suggesting the typical household income is closer to a workable buy-in level under these assumptions. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Vacancy rate 29% — check local market conditions.

Heating Fuel
Housing Metrics
Owner Occupied
88.7%+36% vs US avg
x
Vacancy Rate
28.6%+178% vs US avg
x
Broadband Access
85.9%-1% vs US avg
x
4+ Bedrooms
3.0%-80% vs US avg
x
Built Pre-1939
1.5%-88% vs US avg
x
Built Post-2014
0.8%-89% vs US avg
x
Rent Burden >30%
18.5%-63% vs US avg
x
Mortgage-Free
47.3%+24% vs US avg
x
$123,600
Home Value
$595
Rent
1979
Year Built
2011
Moved In

Residents have lived here since ~2011 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached77.9%
  • 1-unit attached0.9%
  • 2-9 units1.8%
  • 10+ units2.3%
  • Mobile home & other17.1%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$123,600
Median rent$595
Owner-occupied88.7%
Vacant28.6%
Price-to-income2.1x
Est. income to buy$34,000