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Pennfield

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

Median Home$630,612
Median Rent$1,809/month
Population168,680
Leading IndustriesEducation · Healthcare · Public Administration3% education
Home Value Growth⬆⬆⬆+21.2% over 2 years
Family-Friendly30% of residentstop 2% nationally
Homeowners58% of occupied units
Pennfield
MI

Frequently Asked Questions

What are today's mortgage rates in Pennfield?

As of today, the 30-year fixed mortgage rate for Pennfield is approximately 6.811% (6.844% 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 Pennfield?

The median home value in Pennfield is $631k. The median monthly rent is $1,809. Annual property taxes average $8k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Pennfield?

Home values in Pennfield have increased 21.2% over the past two years. This indicates a strong appreciation trend. 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 Pennfield?

Based on a typical all-in ownership cost of $2,093/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $90k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Pennfield is $83k/year.

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What industries drive the economy in Pennfield?

The largest employment sectors in Pennfield are public administration (28%) and healthcare (14%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.