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Manchester

Learn about the people, housing, costs and businesses in Manchester, Michigan

Median Home$273,600
Median Rent$928/month
Population2,030
Leading IndustriesPublic Administration · Professional Services · Arts, Food & Hospitality27% public administration
Home Value Growth+8.5% over 2 years
Retirees21% of residentsnear the national average
Homeowners86% of occupied units
NotableTransit80/100 · excellent transit access
NotableHighly Educated24% hold a bachelor's degree · top 21% nationally
Manchester
MI

Frequently Asked Questions

What are today's mortgage rates in Manchester?

As of today, the 30-year fixed mortgage rate for Manchester is approximately 6.988% (7.027% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Manchester?

The median home value in Manchester is $274k. The median monthly rent is $928. Annual property taxes average $4k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Manchester?

Home values in Manchester have increased 8.5% over the past two years. This represents moderate growth. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Manchester?

Based on a typical all-in ownership cost of $1,341/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $57k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Manchester is $85k/year.

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What industries drive the economy in Manchester?

The largest employment sectors in Manchester are public administration (27%) and retail (13%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.