Chelsea, MI housing market
The typical Chelsea home is worth about $416,000, up 3.4% in a year, 56% above the Michigan typical home. Homes typically sell in 36 days, a little above asking.
Home values, sales, trends and how Chelsea compares with the towns next door — updated as new data is published.
Chelsea at a glance
A strong seller's market
Homes are selling faster than new ones are listed: less than two months of supply. Well-priced homes can draw several offers.
Typical home value, 2016–2026
Show as a table
| January | Chelsea | Michigan |
|---|---|---|
| 2017 | $311,000 | $144,000 |
| 2018 | $333,000 | $155,000 |
| 2019 | $349,000 | $165,000 |
| 2020 | $371,000 | $175,000 |
| 2021 | $374,000 | $194,000 |
| 2022 | $383,000 | $217,000 |
| 2023 | $403,000 | $230,000 |
| 2024 | $416,000 | $241,000 |
| 2025 | $406,000 | $253,000 |
| 2026 | $408,000 | $262,000 |
| August 2026 | $416,000 | $266,000 |
1 new home permitted in 2025
Builders were permitted 1 new home in Chelsea in 2025. That's 0.2 per 1,000 residents, slower than across Michigan (2.3). Over the past 10 years, Chelsea has permitted 78 homes in all.
Homes vs. people, 2010–2020
Between the 2010 and 2020 censuses, Chelsea gained 523 residents while 131 new homes were permitted: about 4 new residents per new home. Population grew faster than building, so existing homes filled up: a sign of tight supply. Across Michigan: 1.2 new residents per new home.
How Chelsea ranks on housing keeping up with growth →
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 | 1 | 1 | 0 | $289,000 |
| 2024 | 4 | 4 | 0 | $1.2 million |
| 2023 | 2 | 2 | 0 | $579,000 |
| 2022 | 5 | 5 | 0 | $1.4 million |
| 2021 | 2 | 2 | 0 | $320,000 |
| 2020 | 2 | 2 | 0 | $320,000 |
| 2019 | 15 | 2 | 13 | $1.8 million |
| 2018 | 12 | 8 | 4 | $2.3 million |
| 2017 | 21 | 11 | 10 | $3.5 million |
| 2016 | 14 | 14 | 0 | $2.9 million |
| 2015 | 13 | 13 | 0 | $2.7 million |
| 2014 | 13 | 13 | 0 | $2.6 million |
| 2013 | 14 | 14 | 0 | $3.5 million |
| 2012 | 15 | 15 | 0 | $200,000 |
| 2011 | 3 | 3 | 0 | $450,000 |
| 2010 | 11 | 11 | 0 | $1.7 million |
| 2009 | 2 | 2 | 0 | $400,000 |
| 2008 | 3 | 3 | 0 | $609,000 |
| 2007 | 15 | 15 | 0 | $2.9 million |
| 2006 | 76 | 18 | 58 | $8.2 million |
| 2005 | 83 | 77 | 6 | $13.8 million |
| 2004 | 72 | 48 | 24 | $11 million |
| 2003 | 29 | 11 | 18 | $3.3 million |
Chelsea's permit office didn't report to the Census in 2025, so the 2025 figures are Census estimates.
How Chelsea 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.
Chelsea and its neighbors
| Town | Typical value | 1-yr change | 2-bed rent | New homes 2025 | Median income |
|---|---|---|---|---|---|
| Chelsea | $416K | +3.4% | $1,960 | 1 | $72,098 |
| Lima | — | +5.3%† | $1,940 | — | $119,236 |
| Sylvan | — | +7.3%† | $1,900 | — | $102,656 |
† FHFA price index change, where Zillow has no home value for the town.
5.8 years of income
The typical Chelsea home costs about 5.8 years of the town's median household income, more than across Michigan (3.7 years).
How Chelsea 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 $1,960
HUD's Fair Market Rent for a two-bedroom in Chelsea is $1,960 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in Chelsea pay a median of $1,619, so moving in tends to cost more than staying put. A two-bedroom takes about 33% of the town's median household income, above the 30% guideline for affordable housing.
Studio $1,620 · 4 bedrooms $2,600
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (48118; Ann Arbor, 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.
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.