Bay City, MI · Michigan
Bay County
103,235 residents37 permits TTM$60,523 median HHI10 ZIP codesUpdated April 16, 2026
Investor first look
Median home value
$135,100
ACS 5-Year
Cap rate proxy
7.2%
FMR × 0.65 ÷ Home Value
Rent-to-income
16.0%
HUD FMR ÷ ACS HHI
Net migration
+1.44%
IRS SOI
Permits (TTM)
37
Census BPS
Climate risk
78.2
FEMA NRI (0–100)
ZIP code breakdown10 ZIP codes
| ZIP | Median home value | Rent (FMR 2BR) | Gross yield | Cap rate | Rent gap |
|---|---|---|---|---|---|
| 48708 | — | — | — | 8.3% | — |
| 48706 | — | — | — | 8.5% | — |
| 48710 | — | — | — | 7.2% | — |
| 48613 | — | — | — | 7.2% | — |
| 48650 | — | — | — | 5.5% | — |
Ranked by composite score
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Demographics
Owner-occupied
76.4%
Census ACS
Vacancy rate
7.6%
Census ACS
Bachelor's degree +
21.4%
Census ACS
Rent burdened
39.6%
Census ACS (>30% income)
Median age
43.8
Census ACS
U.S. Census Bureau — American Community Survey 5-Year Estimates
U.S. Census Bureau — Building Permits Survey
U.S. Department of Housing and Urban Development — Fair Market Rents / Small Area Fair Market Rents (SAFMR)
Internal Revenue Service — Statistics of Income Migration Data
FEMA — National Risk Index
Last updated: April 16, 2026