Vergennes, MI housing market
Home prices around Vergennes have risen about 57% over the past 5 years. No new homes were permitted in 2023.
Home values, sales, trends and how Vergennes compares with the towns next door — updated as new data is published.
Home prices up 57% in 5 years
The federal house price index for the ZIP codes around Vergennes rose 57% over the past 5 years, faster than across Michigan (52%). Last year prices rose 0.9%. Carrying the Census median home value forward with that index puts the typical Vergennes home at roughly $675,000 today.
Show as a table
| Year | Change that year | Since 2000 | Michigan since 2000 |
|---|---|---|---|
| 2025 | +0.9% | +142% | +97% |
| 2024 | +7.9% | +140% | +88% |
| 2023 | +12% | +122% | +76% |
| 2022 | +16% | +99% | +64% |
| 2021 | +11% | +71% | +45% |
| 2020 | +3.4% | +54% | +30% |
| 2019 | +5.8% | +49% | +26% |
| 2018 | +8.3% | +41% | +20% |
| 2017 | +8.4% | +30% | +12% |
| 2016 | +6.1% | +20% | +5.3% |
| 2015 | +9.5% | +13% | 0% |
| 2014 | +6.6% | +3.1% | −4.7% |
| 2013 | +6.4% | −3.2% | −12% |
| 2012 | −2.8% | −9.1% | −16% |
| 2011 | −2.6% | −6.5% | −16% |
| 2010 | −5% | −4% | −12% |
| 2009 | −6.4% | +1% | −5% |
| 2008 | −6.9% | +8% | +3.5% |
| 2007 | −2.7% | +16% | +11% |
| 2006 | +1.3% | +19% | +16% |
| 2005 | +3.4% | +18% | +18% |
| 2004 | +3.4% | +14% | +14% |
| 2003 | +1.9% | +10% | +10% |
| 2002 | +3.3% | +8% | +8.3% |
| 2001 | +4.5% | +4.5% | +5% |
| 2000 | — | — | — |
How Vergennes ranks on rising home prices →
Federal Housing Finance Agency House Price Index (annual, developmental) for ZIP codes 49331, 49301, weighted by land area. It tracks repeat sales and appraisals of the same homes, so it shows how prices changed, not what homes cost. The estimated value scales the Census (ACS 2020-2024) median home value by that change.
No new homes permitted in 2023
No permits for new homes were issued in Vergennes in 2023. The last year with any was 2021 (28 new homes).
Homes vs. people, 2010–2020
Between the 2010 and 2020 censuses, Vergennes gained 552 residents while 167 new homes were permitted: about 3.3 new residents per new home. Building and growth moved roughly in step. Across Michigan: 1.2 new residents per new home.
How Vergennes 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 |
|---|---|---|---|---|
| 2023 | 0 | 0 | 0 | — |
| 2022 | 0 | 0 | 0 | — |
| 2021 | 28 | 28 | 0 | $9.2 million |
| 2020 | 30 | 30 | 0 | $8.9 million |
| 2019 | 17 | 17 | 0 | $10.2 million |
| 2018 | 12 | 12 | 0 | $3.5 million |
| 2017 | 22 | 22 | 0 | $11.4 million |
| 2016 | 21 | 21 | 0 | $6.2 million |
| 2015 | 18 | 18 | 0 | $5.3 million |
| 2014 | 18 | 18 | 0 | $4 million |
| 2013 | 25 | 25 | 0 | $5.1 million |
| 2012 | 12 | 12 | 0 | $2.3 million |
| 2011 | 13 | 13 | 0 | $2.6 million |
| 2010 | 9 | 9 | 0 | $1.9 million |
| 2009 | 7 | 7 | 0 | $1.3 million |
| 2008 | 13 | 13 | 0 | $2.6 million |
| 2007 | 20 | 20 | 0 | $4.4 million |
| 2006 | 26 | 26 | 0 | $5.7 million |
| 2005 | 28 | 28 | 0 | $6.2 million |
| 2004 | 45 | 45 | 0 | $8.9 million |
| 2003 | 43 | 43 | 0 | $6.9 million |
| 2002 | 47 | 47 | 0 | $8.3 million |
| 2001 | 36 | 36 | 0 | $6.8 million |
| 2000 | 46 | 46 | 0 | $7.1 million |
Vergennes's permit office didn't report to the Census in 2023, so the 2023 figures are Census estimates.
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey.
Vergennes and its neighbors
| Town | Typical value | 1-yr change | 2-bed rent | New homes 2025 | Median income |
|---|---|---|---|---|---|
| Vergennes | — | +0.9%† | $1,470 | — | $113,482 |
| Lowell | — | +0.7%† | $1,440 | 11 | $72,875 |
| Ada | $666K | +5.6% | $2,260 | — | $168,468 |
| Grattan | — | +1.6%† | $1,470 | 10 | $111,354 |
| Keene | — | +1%† | $1,220 | — | $96,250 |
| Forest Hills | — | +6.5%† | $2,170 | — | $158,005 |
| Lowell | $409K | +5% | $1,480 | — | $104,794 |
† FHFA price index change, where Zillow has no home value for the town.
3.5 years of income
The typical Vergennes home costs about 3.5 years of the town's median household income, about the same as across Michigan (3.7).
How Vergennes 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 $1,470
HUD's Fair Market Rent for a two-bedroom in Vergennes is $1,470 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in Vergennes pay a median of $1,824. A two-bedroom takes about 16% of the town's median household income.
Studio $1,160 · 4 bedrooms $2,130
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (49301, 49331; Grand Rapids-Wyoming, MI HUD Metro FMR Area), 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.