Bay, MI housing market
The typical Bay home is worth about $128,000, up 5.2% in a year, 52% below the Michigan typical home. Homes typically sell in 17 days, a little above asking.
Home values, sales, trends and how Bay compares with the towns next door — updated as new data is published.
Bay at a glance
A seller's market
Supply is tight — about 3.2 months of homes for sale at the current pace. Buyers should expect competition on well-priced homes.
Typical home value, 2016–2026
Show as a table
| January | Bay | Michigan |
|---|---|---|
| 2017 | $67,000 | $144,000 |
| 2018 | $71,000 | $155,000 |
| 2019 | $74,000 | $165,000 |
| 2020 | $84,000 | $175,000 |
| 2021 | $89,000 | $194,000 |
| 2022 | $98,000 | $217,000 |
| 2023 | $104,000 | $230,000 |
| 2024 | $112,000 | $241,000 |
| 2025 | $121,000 | $253,000 |
| 2026 | $127,000 | $262,000 |
| August 2026 | $128,000 | $266,000 |
No new homes permitted in 2025
No permits for new homes were issued in Bay in 2025. The last year with any was 2020 (80 new homes).
Homes vs. people, 2010–2020
Between the 2010 and 2020 censuses, Bay's population fell by 2,271 even though 60 new homes were permitted. Homes are holding fewer people: households are getting smaller, or more homes are used part of the year. Across Michigan: 1.2 new residents per new home.
Residents: U.S. Census Bureau, 2010 and 2020 censuses. New homes: permits issued 2010–2019.
Show as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2026 (Jan–Aug) | 0 | 0 | 0 | — |
| 2025 | 0 | 0 | 0 | — |
| 2024 | 0 | 0 | 0 | — |
| 2023 | 0 | 0 | 0 | — |
| 2022 | 0 | 0 | 0 | — |
| 2021 | 0 | 0 | 0 | — |
| 2020 | 80 | 24 | 56 | $7.6 million |
| 2019 | 23 | 23 | 0 | $8.3 million |
| 2018 | 24 | 24 | 0 | $8.7 million |
| 2017 | 8 | 0 | 8 | $1.1 million |
| 2016 | 0 | 0 | 0 | — |
| 2015 | 1 | 1 | 0 | $50,000 |
| 2014 | 1 | 1 | 0 | $189,000 |
| 2013 | 1 | 1 | 0 | $230,000 |
| 2012 | 0 | 0 | 0 | — |
| 2011 | 2 | 2 | 0 | $189,000 |
| 2010 | 0 | 0 | 0 | — |
| 2009 | 1 | 1 | 0 | $79,000 |
| 2008 | 2 | 2 | 0 | $108,000 |
| 2007 | 0 | 0 | 0 | — |
| 2006 | 5 | 5 | 0 | $315,000 |
| 2005 | 0 | 0 | 0 | — |
| 2004 | 9 | 9 | 0 | $636,000 |
| 2003 | 11 | 11 | 0 | $661,000 |
| 2002 | 11 | 7 | 4 | $1 million |
| 2001 | 5 | 5 | 0 | $637,000 |
| 2000 | 3 | 3 | 0 | $278,000 |
Bay's permit office didn't report to the Census in 2025, so the 2025 figures are Census estimates.
How Bay ranks on new homes being built →
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey, through August 2026.
Bay and its neighbors
| Town | Typical value | 1-yr change | 2-bed rent | New homes 2025 | Median income |
|---|---|---|---|---|---|
| Bay | $128K | +5.2% | $1,010 | 0 | $49,420 |
| Bangor | $215K | +5.8% | $1,070 | 2 | $60,661 |
| Portsmouth | $201K | +6.5% | $990 | 2 | $79,310 |
| Frankenlust | — | +7.3%† | $1,130 | 6 | $92,685 |
| Hampton | $238K | +8.5% | $990 | 4 | $51,728 |
| Essexville | $166K | +5% | $990 | 0 | $75,341 |
| Monitor | $244K | +5.9% | $1,060 | 11 | $76,563 |
† FHFA price index change, where Zillow has no home value for the town.
2.6 years of income
The typical Bay home costs about 2.6 years of the town's median household income, less than across Michigan (3.7 years).
How Bay ranks on affordability →
Home value ÷ ACS median household income.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024.
A two-bedroom rents for about $1,010
HUD's Fair Market Rent for a two-bedroom in Bay is $1,010 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in Bay pay a median of $766, so moving in tends to cost more than staying put. A two-bedroom takes about 25% of the town's median household income.
Studio $790 · 4 bedrooms $1,490
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (48706, 48708; Bay City, MI MSA), weighted by land area. A Fair Market Rent is the 40th-percentile rent plus utilities for a standard unit. Median rent: U.S. Census Bureau, American Community Survey.
Recent listings in Bay
Home values: Zillow Home Value Index (ZHVI), Zillow Research, August 2026. Sales, days on market and supply: Redfin Data Center, May 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers.