Merrill, MI housing market
Home prices around Merrill have risen about 62% over the past 5 years.
Home values, sales, trends and how Merrill compares with the towns next door — updated as new data is published.
Home prices up 62% in 5 years
The federal house price index for the ZIP codes around Merrill rose 62% over the past 5 years, faster than across Michigan (52%). Last year prices rose 4.4%.
Show as a table
| Year | Change that year | Since 2001 | Michigan since 2001 |
|---|---|---|---|
| 2025 | +4.4% | +140% | +87% |
| 2024 | +11% | +130% | +79% |
| 2023 | +14% | +107% | +68% |
| 2022 | +5.2% | +82% | +56% |
| 2021 | +17% | +73% | +38% |
| 2020 | +0.9% | +49% | +24% |
| 2019 | +7.7% | +47% | +20% |
| 2018 | +12% | +37% | +14% |
| 2017 | +20% | +22% | +7.1% |
| 2016 | −3.8% | +2% | +0.3% |
| 2015 | +0.5% | +6% | −4.8% |
| 2014 | +7.2% | +5.5% | −9.3% |
| 2013 | −4% | −1.6% | −16% |
| 2012 | +6.1% | +2.6% | −20% |
| 2011 | −4.4% | −3.3% | −20% |
| 2010 | −5.7% | +1.1% | −17% |
| 2009 | −5.2% | +7.2% | −9.5% |
| 2008 | −4.5% | +13% | −1.5% |
| 2007 | −3.3% | +18% | +5.9% |
| 2006 | +0.3% | +22% | +11% |
| 2005 | +5.9% | +22% | +12% |
| 2004 | +2.8% | +15% | +8.5% |
| 2003 | +3.8% | +12% | +5.1% |
| 2002 | +8.1% | +8.1% | +3.1% |
| 2001 | — | — | — |
Federal Housing Finance Agency House Price Index (annual, developmental) for ZIP codes 49312, 49309, 49349, 49421, covering 63% of Merrill’s land, weighted by land area. It tracks repeat sales and appraisals of the same homes, so it shows how prices changed, not what homes cost.
Merrill and its neighbors
| Town | 1-yr change | 2-bed rent | New homes 2025 | Median income |
|---|---|---|---|---|
| Merrill | +4.4%† | $980 | — | $40,865 |
| Lincoln | −4.2%† | $970 | 3 | $52,057 |
| Lilley | +8.8%† | $970 | 7 | $41,806 |
| Monroe | −3.6%† | $990 | — | $42,500 |
| Beaver | +6.7%† | $980 | — | $50,469 |
† 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 $980
HUD's Fair Market Rent for a two-bedroom in Merrill is $980 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in Merrill pay a median of $1,063.
Studio $690 · 4 bedrooms $1,360
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (49309, 49312, 49349, 49421; Newaygo 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. 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.