Lilley, MI housing market
Home prices around Lilley have risen about 60% over the past 5 years. Builders were permitted 7 new homes in 2025.
Home values, sales, trends and how Lilley compares with the towns next door — updated as new data is published.
Home prices up 60% in 5 years
The federal house price index for the ZIP code around Lilley rose 60% over the past 5 years, faster than across Michigan (52%). Last year prices rose 8.8%.
Show as a table
| Year | Change that year | Since 2001 | Michigan since 2001 |
|---|---|---|---|
| 2025 | +8.8% | +147% | +87% |
| 2024 | +4.8% | +127% | +79% |
| 2023 | +21% | +116% | +68% |
| 2022 | −4.4% | +78% | +56% |
| 2021 | +21% | +87% | +38% |
| 2020 | −3.9% | +54% | +24% |
| 2019 | +8.2% | +60% | +20% |
| 2018 | +15% | +48% | +14% |
| 2017 | +27% | +29% | +7.1% |
| 2016 | −8.5% | +1.8% | +0.3% |
| 2015 | +0.2% | +11% | −4.8% |
| 2014 | +6.7% | +11% | −9.3% |
| 2013 | −6.1% | +4.1% | −16% |
| 2012 | +8% | +11% | −20% |
| 2011 | −1.4% | +2.7% | −20% |
| 2010 | −4.4% | +4.1% | −17% |
| 2009 | −8.9% | +8.9% | −9.5% |
| 2008 | −0.4% | +20% | −1.5% |
| 2007 | −6% | +20% | +5.9% |
| 2006 | +4.9% | +28% | +11% |
| 2005 | +3.6% | +22% | +12% |
| 2004 | +0.5% | +17% | +8.5% |
| 2003 | +6.5% | +17% | +5.1% |
| 2002 | +9.7% | +9.7% | +3.1% |
| 2001 | — | — | — |
Federal Housing Finance Agency House Price Index (annual, developmental) for ZIP code 49309, weighted by land area. It tracks repeat sales and appraisals of the same homes, so it shows how prices changed, not what homes cost.
7 new homes permitted in 2025
Builders were permitted 7 new homes in Lilley in 2025, all single-family houses. Over the past 10 years, Lilley has permitted 61 homes in all.
Homes vs. people, 2010–2020
Between the 2010 and 2020 censuses, Lilley gained 38 residents while 32 new homes were permitted: about 1.2 new residents per new home. Building outpaced population growth, which usually means smaller households or homes used part of the year. 56% of Lilley's homes are seasonal or vacation homes, which adds housing without adding residents. 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) | 3 | 3 | 0 | $324,000 |
| 2025 | 7 | 7 | 0 | $755,000 |
| 2024 | 7 | 7 | 0 | $755,000 |
| 2023 | 6 | 6 | 0 | $647,000 |
| 2022 | 8 | 8 | 0 | $863,000 |
| 2021 | 9 | 9 | 0 | $971,000 |
| 2020 | 8 | 8 | 0 | $863,000 |
| 2019 | 4 | 4 | 0 | $422,000 |
| 2018 | 4 | 4 | 0 | $422,000 |
| 2017 | 4 | 4 | 0 | $180,000 |
| 2016 | 4 | 4 | 0 | $180,000 |
| 2015 | 4 | 4 | 0 | $180,000 |
| 2014 | 4 | 4 | 0 | $180,000 |
| 2013 | 5 | 5 | 0 | $405,000 |
| 2012 | 0 | 0 | 0 | — |
| 2011 | 1 | 1 | 0 | $200,000 |
| 2010 | 2 | 2 | 0 | $290,000 |
| 2009 | 0 | 0 | 0 | — |
| 2008 | 3 | 3 | 0 | $235,000 |
| 2007 | 3 | 3 | 0 | $164,000 |
| 2006 | 1 | 1 | 0 | $60,000 |
| 2005 | 11 | 11 | 0 | $721,000 |
| 2004 | 5 | 5 | 0 | $302,000 |
| 2003 | 6 | 6 | 0 | $362,000 |
Lilley's permit office didn't report to the Census in 2025, so the 2025 figures are Census estimates.
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey, through August 2026.
Lilley and its neighbors
| Town | 1-yr change | 2-bed rent | New homes 2025 | Median income |
|---|---|---|---|---|
| Lilley | +8.8%† | $970 | 7 | $41,806 |
| Home | +10.4%† | $990 | — | $46,875 |
| Merrill | +4.4%† | $980 | — | $40,865 |
| Pleasant Plains | +2.4%† | $990 | — | $33,269 |
| Troy | +8.8%† | $980 | — | $46,250 |
† FHFA price index change, where Zillow has no home value for the town.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024 · figures for a place this size carry wide margins of error.
A two-bedroom rents for about $970
HUD's Fair Market Rent for a two-bedroom in Lilley is $970 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in Lilley pay a median of $613, so moving in tends to cost more than staying put.
Studio $690 · 4 bedrooms $1,420
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (49309; Lake County, MI), 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. Sales, days on market and supply: Redfin Data Center. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits 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.