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Colon village, MI

ZIP 49040 — 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 49040

Median Home Value
$123,800
Median Rent
$681
Affordability Snapshot
$34,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$795/mo PITI).

14%
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.

15.1 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 49040 in Colon 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 $795. That sits below the local median household income ($58,693), 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 28% — check local market conditions.

Heating Fuel
Housing Metrics
Owner Occupied
82.3%+26% vs US avg
x
Vacancy Rate
28.5%+177% vs US avg
x
Broadband Access
71.0%-18% vs US avg
x
4+ Bedrooms
6.3%-57% vs US avg
x
Built Pre-1939
5.4%-58% vs US avg
x
Built Post-2014
0.5%-93% vs US avg
x
Rent Burden >30%
36.4%-27% vs US avg
x
Mortgage-Free
51.8%+36% vs US avg
x
$123,800
Home Value
$681
Rent
1964
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 detached80.9%
  • 1-unit attached0.2%
  • 2-9 units3.2%
  • 10+ units3.3%
  • Mobile home & other12.5%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$123,800
Median rent$681
Owner-occupied82.3%
Vacant28.5%
Price-to-income2.1x
Est. income to buy$34,000