Michigan · 1 county · 102,123 residents (2025 est.)
FHFA quarterly index through 2026 Q2Annual index 1978–2025Permits through August 2026
Bay City (100 = first year)United States, rebased to the same startNBER recession
FHFA notes: The FHFA HPI is a broad measure of the movement of single-family house prices. The FHFA HPI is a weighted, repeat-sales index, meaning that it measures average price changes in repeat sales or refinancings on the same properties. The line above is FHFA's standard quarterly all-transactions index for the metropolitan area; the comparison table below uses FHFA's annual CBSA index, which FHFA describes as developmental. The index does not give a dollar value for any home.
The Bay City, MI metropolitan area covers 1 county. Its FHFA house price index, starting in 1978, stood at 451 in 2025, +350.7% above the base of 100.
The standard quarterly index for the area, published through 2026 Q2, is +5.1% on a year earlier and +2.3% on the previous quarter.
Over the ten years to 2025 the annual index rose +89.4% (+6.6% a year), below Michigan at +96.7% and above the national +85.0%.
From a 2005 peak the index fell −23.2% to 2013, regaining the peak in 2021.
Across its counties, 42 housing units were authorised in the 12 months to August 2026, 0.4 per 1,000 residents, +10.5% on the previous 12 months.
+5.1%year to 2026 Q2, quarterly indexUS +3.0%
+5.1%1 year, 2024–2025US +2.8%
+59.8%5 yearsUS +47.0%
+89.4%10 years+6.6% a year annualised
+78.3%since 2000US +158.3%
42units permitted, 12 months0.4 per 1,000 residents
FHFA annual all-transactions indexes over identical years.
Decade by decade
Decade
Change
United States
1980s (1980–1990)
+18.2%
+68.2%
1990s (1990–2000)
+79.9%
+33.9%
2000s (2000–2010)
−7.4%
+29.7%
2010s (2010–2020)
+20.5%
+35.5%
2020s so far (2020–2025)
+59.8%
+47.0%
FHFA reports each index with a value of 100 in its base period, the first year the area has enough transactions (1978 here). A decade's change is the index at the end of the decade divided by the index at the start, so it does not depend on the base year; the United States column covers the same years. Decades before 1978 are not shown.
Peak-to-low declines
Peak
Low
Decline
Peak regained
2005
2013
−23.2%
2021
1981
1982
−17.1%
1989
Building permits across the area
Housing units authorised in the area's county (OMB July 2023 delineations), summed from county files.
Housing units authorised in the Bay City, MI area by month, latest 12 monthssingle-family2+ unit buildings
Housing units authorised in the Bay City, MI area by month, latest 60 monthssingle-family2+ unit buildings
Housing units authorised in the Bay City, MI area by year, 1995–2025single-family2+ unit buildings
Permits, 12 months to August 2026
This area
Michigan
United States
Housing units authorised
42
22,528
1,418,086
Units per 1,000 residents
0.4
2.2
4.1
Single-family share
88%
68%
63%
Change on previous 12 months
+10.5%
−2.7%
−0.1%
Counties in the area
Ranked by ten-year change in FHFA's county index to 2025; permits are the latest 12 months.
How much have home values in the Bay City, MI area risen over 10 years?
The FHFA annual index rose +89.4% between 2015 and 2025, about +6.6% a year. Over 20 years: +53.8%; since 2000: +78.3%. The quarterly index is +5.1% on a year earlier as of 2026 Q2.
Which counties in the Bay City, MI area rose most?
By ten-year change to 2025: Bay County (+89.4%).
What happened to Bay City, MI prices after 2007?
The index peaked in 2005, fell −23.2% to 2013 and regained the peak in 2021. Nationally: −21.3% from 2007 to 2012.
How many homes are being built in the Bay City, MI area?
42 housing units were authorised across the area's counties in the 12 months to August 2026, 88% of them single-family, 0.4 per 1,000 residents.
Where does this data come from?
FHFA's annual CBSA house price index (developmental, updated March 31, 2026) and its standard quarterly metropolitan index; Census Bureau building permits summed over member counties (OMB July 2023 delineations) through August 2026; vintage 2025 population estimates.
Provenance
Index: Federal Housing Finance Agency, annual house price index for core based statistical areas (all-transactions, developmental), last updated March 31, 2026, values 1978–2025; quarterly metropolitan area index (all-transactions) through 2026 Q2. Permits: Census Bureau Building Permits Survey county files through August 2026, summed over member counties from OMB's July 2023 delineations. Population: Census Bureau vintage 2025 estimates. Public domain. Corrections · FHFA HPI datasets.