A typical Bingham home is worth roughly $466,000
Home prices around Bingham have risen about 75% over the past 5 years.
What kind of housing town is Bingham?
Read from the numbers below. The page puts what stands out first.
A typical home costs 5 years of income
More than across Michigan (3.7 years). Try your own numbers below.
That’s $89K short of a typical Bingham home.
A two-bedroom rents for about $1,360 a month here, $1,350 less than owning.
How Bingham ranks on affordability →
An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, Bingham’s typical property tax (0.69% of value a year, from the Census) and insurance of about 0.35%. Mortgage insurance, HOA fees and other debts aren’t included.
Home prices up 75% in 5 years
The federal house price index for the ZIP codes around Bingham rose 75% over the past 5 years, faster than across Michigan (52%). Last year prices rose 4.4%. Carrying the Census median home value forward with that index puts the typical Bingham home at roughly $466,000 today.
Carrying the Census median forward with the index puts a typical home at about $466K.
How Bingham ranks on rising home prices →
Federal Housing Finance Agency House Price Index (annual) for the ZIP codes around Bingham, weighted by land area. It tracks repeat sales of the same homes, so it shows how prices changed, not what homes cost.
98% of Bingham households own their home
Half of Bingham’s homes were built before 1986.
Michigan: 73% own.
U.S. Census Bureau, American Community Survey 2020-2024.
A two-bedroom rents for about $1,360
Fair Market Rent a month, utilities included
U.S. Department of Housing and Urban Development, Fair Market Rents by ZIP code (Leelanau County, MI HUD Metro FMR Area): the 40th-percentile rent plus utilities for a standard unit. Median rent and renters: U.S. Census Bureau, American Community Survey.
Bingham vs. its neighbors
Bingham is the 2nd priciest of 4 neighboring towns. Tap one to see its housing page.
Compare more
| Town | Typical value | 1-yr change | 2-bed rent | Median income |
|---|---|---|---|---|
| Bingham | $466K* | +4.4%† | $1,360 | $93,594 |
| Centerville | $444K* | +21%† | $1,360 | $98,281 |
| Suttons Bay | $647K | +0.3% | $1,360 | $115,769 |
| Elmwood | $436K* | +4.7%† | $1,380 | $94,417 |
Typical value: Zillow Home Value Index; * Census median home value where Zillow has none. † FHFA price index change where Zillow has none. Rent: HUD Fair Market Rent. New homes: Census building permits.
Neighbors talk housing
What Bingham buyers, sellers and renters are saying.
Your answer becomes a post in Town Square.
Home values: Zillow Home Value Index (ZHVI), Zillow Research. Sales, days on market and supply: Redfin Data Center. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. Price trend: Federal Housing Finance Agency House Price Index. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers. The calculator is an estimate, not a loan offer.