Reed, MI housing market
The typical Reed home is worth about $198,000, up 4.7% in a year, 26% below the Michigan typical home.
Home values, sales, trends and how Reed compares with the towns next door — updated as new data is published.
Reed at a glance
Typical home value, 2016–2026
Show as a table
| January | Reed | Michigan |
|---|---|---|
| 2017 | $103,000 | $144,000 |
| 2018 | $112,000 | $155,000 |
| 2019 | $115,000 | $165,000 |
| 2020 | $117,000 | $175,000 |
| 2021 | $145,000 | $194,000 |
| 2022 | $168,000 | $217,000 |
| 2023 | $180,000 | $230,000 |
| 2024 | $178,000 | $241,000 |
| 2025 | $187,000 | $253,000 |
| 2026 | $198,000 | $262,000 |
| August 2026 | $198,000 | $266,000 |
3.8 years of income
The typical Reed home costs about 3.8 years of the town's median household income, about the same as across Michigan (3.7).
How Reed 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 $970
HUD's Fair Market Rent for a two-bedroom in Reed is $970 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in Reed pay a median of $714, so moving in tends to cost more than staying put. A two-bedroom takes about 22% of the town's median household income.
Studio $730 · 4 bedrooms $1,420
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (49677; 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, August 2026. Sales, days on market and supply: Redfin Data Center. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers.