Saginaw, MI
The numbers that matter most
What an investor checks first when sizing up a new metro — affordability ratio, rent vs income, cap rate proxy, and where the market is moving. Each metric shown vs. state and national medians for instant context.
affordable
Price to income
2.39×
The single most-cited 'is this market still cheap' check. Below 3× and you're in an affordability tailwind.
- vs Michigan
- 2.86×-0.47
- vs U.S.
- 3.43×-1.04
Benchmark
ACS median home value ÷ median HHI
comfortable
Rent to income
23.0%
What share of a typical household's income goes to rent. Below 30% means tenants can absorb modest rent increases.
- vs Michigan
- 22.0%
- vs U.S.
- 23.3%-0.3
Benchmark
(HUD FMR 2BR × 12) ÷ median HHI
solid
Cap rate proxy
6.25%
Rough first-pass yield assuming a 35% expense ratio. Not an underwriting number — a 'is this even worth modeling' filter.
- vs Michigan
- 4.81%+1.44
- vs U.S.
- 4.35%+1.90
Benchmark
(FMR 2BR × 12 × 0.65) ÷ ACS median home value
shrinking
Net migration
-0.04%
Forward-looking demand signal. Positive net migration drives rent growth and absorbs new supply.
- vs Michigan
- -0.03%
- vs U.S.
- 0.03%
Benchmark
IRS net migration ÷ population
tight
Permit pipeline
0.89
permits per 1,000 residents
Forward-supply indicator. Above ~5 means the metro is building meaningfully relative to its size; below 2 means supply is tight.
- vs Michigan
- 1.68
- vs U.S.
- 3.52
Benchmark
Census BPS permits TTM ÷ population × 1,000
softening
Unemployment
6.0%
Tighter unemployment means higher wages, more rental demand, lower vacancy.
- vs Michigan
- 4.9%
- vs U.S.
- 3.9%
Benchmark
BLS LAUS, latest month
Where prices are and where they've been
5-year price appreciation
+54.1%
homeValues.yearOverYear
+3.8%
Median home value
$139,400
The rent ladder
| Bedroom | Monthly | Annual | % of median HHI |
|---|---|---|---|
| 1 BR | $851 | $10,212 | 17.5% |
| 2 BR | $1,117 | $13,404 | 23.0% |
| 3 BR | $1,440 | $17,280 | 29.6% |
Labor market direction
Unemployment
6.0%
Median household income
$58,347
What's being built
Total TTM
169
+24.3% YoY
Single-family
137
2–4 unit
32
5+ unit
0
All 1 counties, ranked by population
| County | Population | Home value | Median HHI | Permits TTM | YoY |
|---|---|---|---|---|---|
| Saginaw County | 189,821 | $139,400 | $58,347 | 169 | +24.3% |
Similar metros nationally
| Metro | Pop | Med HHI | P/I | Cap proxy | HPI 5y | Permits/1k | Unemp |
|---|---|---|---|---|---|---|---|
| ★Saginaw | 189,821 | $58,347 | 2.39× | 6.25% | +54.1% | 0.89 | 6.0% |
| Jackson, TN | 180,446 | $58,740 | — | — | +73.0% | — | 3.7% |
| Joplin, MO | 181,807 | $60,146 | — | — | +61.8% | — | 3.1% |
| Terre Haute, IN | 185,357 | $55,380 | — | — | +55.6% | — | 2.8% |
| El Centro, CA | 179,578 | $56,393 | — | — | +60.2% | — | 18.6% |
| Auburn-Opelika, AL | 175,126 | $58,991 | — | — | +55.0% | — | 2.1% |
Where people are moving in from
Net migration
-68
-0.04% of population
| Origin county | Tax returns |
|---|---|
| Bay County, MI | 493 |
| Genesee County, MI | 458 |
| Midland County, MI | 304 |
| Tuscola County, MI | 180 |
| Oakland County, MI | 129 |
| Wayne County, MI | 119 |
Who lives in Saginaw
- Median age
- 41
- Bachelor's+
- 23.4%
- Owner-occupancy
- 73.5%
- Vacancy rate
- 9.9%
- Rent burdened (30%+)
- 50.4%
- Median household income
- $58,347
This page shows federally sourced data. A full editorial analysis with charts and investment commentary is in progress.