49242 — Hillsdale County, Michigan Market Snapshot
Housing market data for zip code 49242 in Hillsdale County, Michigan. Updated monthly with median prices, days on market, and more.
Market Sales Data
48 sales in 2026 (year to date)
Median Sale Price
$204,500
Days to Sell
115
Homes Sold
48
Inventory
47
Sale-to-List
97.4%
New Listings
52
Price/SqFt
$130
Pending Sales
58
Conforming Loan Available
Most homebuyers in 49242 can comfortably use conventional financing. The median home price of $204,500 is well below the 2026 conforming loan limit of $832,750, meaning buyers can put as little as 3-5% down without hitting jumbo loan territory.
Market Insights
Market Temperature
With homes sitting for 115 days on average, 49242 favors buyers. There may be opportunities to negotiate below asking price or request seller concessions for closing costs or rate buydowns.
Sale-to-List Ratio
The average home in 49242 sells for 2.6% below asking price (97.4% sale-to-list), suggesting buyers have negotiating leverage in the current market.
Conforming Loan Feasibility
Most homebuyers in 49242 can comfortably use conventional financing. The median home price of $204,500 is well below the 2026 conforming loan limit of $832,750, meaning buyers can put as little as 3-5% down without hitting jumbo loan territory.
Loan limits in 49242 are set at the county level.
2026 Loan Limits — Hillsdale County
| Property Units | Conforming Limit | FHA Limit |
|---|---|---|
| 1 Unit | $832,750 | $541,287 |
| 2 Units | $1,066,250 | $693,050 |
| 3 Units | $1,288,800 | $837,700 |
| 4 Units | $1,601,750 | $1,041,125 |
Affordability Snapshot — Zip 49242
To purchase the median home at $204,500 with 5% down at today's rate of 6.75%, the estimated monthly payment is approximately $1,717.
Monthly Payment
$1,717
Income Required
$73,578
Principal & Interest
$1,260/mo
Down Payment (5%)
$10,225
Based on 30-year fixed at 6.75%, 1.8% property tax, $1,800/yr insurance, 28% DTI guideline.
Mortgage Calculator
Estimate your monthly payment for a home in 49242.
Estimated Monthly Payment
$1,416
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