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Grayling city, MI

ZIP 49738 — 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 49738

Median Home Value
$153,200
Median Rent
$703
Affordability Snapshot
$42,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$984/mo PITI).

15%
Rent-to-Income Ratio

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

2.7x
Home Price-to-Income Ratio

Below 3x — relatively affordable housing market.

18.2 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 49738 in Grayling city, MI, a household would need roughly $42,000 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 $984. That sits below the local median household income ($57,573), 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 40% — check local market conditions.

Heating Fuel
Housing Metrics
Owner Occupied
78.7%+20% vs US avg
x
Vacancy Rate
39.9%+287% vs US avg
x
Broadband Access
90.2%+4% vs US avg
x
4+ Bedrooms
2.7%-82% vs US avg
x
Built Pre-1939
6.7%-47% vs US avg
x
Built Post-2014
0.4%-94% vs US avg
x
Rent Burden >30%
17.1%-66% vs US avg
x
Mortgage-Free
48.9%+28% vs US avg
x
$153,200
Home Value
$703
Rent
1978
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 detached83.8%
  • 1-unit attached0.4%
  • 2-9 units2.3%
  • 10+ units1.5%
  • Mobile home & other11.9%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$153,200
Median rent$703
Owner-occupied78.7%
Vacant39.9%
Price-to-income2.7x
Est. income to buy$42,000