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Spring Arbor

Learn about the people, housing, costs and businesses in Spring Arbor, Michigan

Median Home$208,468
Median Rent$1,014/month
Population2,919
Leading IndustriesEducation · Professional Services · Arts, Food & Hospitality4% education
Home Value Growth⬆⬆+15.8% over 2 years
Retirees31% of residentswell above average
Homeowners81% of occupied units
NotableHighly Educated24% hold a bachelor's degree · top 21% nationally
Spring Arbor
MI

Frequently Asked Questions

What are today's mortgage rates in Spring Arbor?

As of today, the 30-year fixed mortgage rate for Spring Arbor is approximately 6.900% (6.936% 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 Spring Arbor?

The median home value in Spring Arbor is $208k. The median monthly rent is $1,014. Annual property taxes average $3k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Spring Arbor?

Home values in Spring Arbor have increased 15.8% 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 Spring Arbor?

Based on a typical all-in ownership cost of $987/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $42k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Spring Arbor is $81k/year.

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What industries drive the economy in Spring Arbor?

The largest employment sectors in Spring Arbor are public administration (22%) and healthcare (14%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.