Shepherd, Michigan.
Typical home $224,045 (+8.7% in a year). Mount Pleasant, MI metro.
to buy the typical home at today's mortgage rate — +$662 (+129%) since Jan 2020.
- 1 year
- Up $17,958 +9%
- $206,087$224,045 since Sep 2025
- 5 years
- Up $46,640 +26%
- $177,406$224,045 since Sep 2021
Monthly payment to buy the typical home
Home value × that month's 30-year mortgage rate, 20% down, principal and interest. This is the line households feel: prices and rates compound each other.
- Shepherd$1,176
- Michigan$1,384
- United States$1,922
At the last five years' pace, a typical home here doubles in price every 15 years.
Typical home values in Shepherd, MI rose 8.7% over the past year — faster than the nation's +1.2%.
Living in Shepherd, Isabella County, Michigan
Shepherd is a village of 1,469 people in Isabella County. Half its households earn more than $70,156 a year and half less, against $55,237 across Isabella County; 17% of its people live below the poverty line. 66% of its homes are lived in by their owners and 34% are rented. Unemployment in Isabella County was 5.1% in August 2026, and the county had 0.8% more jobs in 2025 than the year before. The most residents work in schools and health care, then restaurants and hotels.
Written by AI Claude Sonnet 5.5 wrote this on 23 October 2026 from the figures here, a list of nearby places and what it knows. It can be wrong or out of date.
What it’s like
The place. Shepherd is a small village in Isabella County, and most of its homes are lived in by their owners. Household incomes run higher than across the county, and a typical home costs less than many buyers might expect elsewhere. Winters are cold and snowy, with January the coldest month, while summers turn warm in July, and precipitation is steady through the year.
Work. Residents work mostly in schools, hospitals and social care, with restaurants, hotels and entertainment, manufacturing and shops also employing many. Among the largest workplaces in Shepherd are Shepherd Public Schools, C & R Electric and Highland Plastics. Commutes are fairly short, and very few people work from home.
Things to do. Kelly/Shorts Stadium and the Broadway Theatre are both a short drive away, offering sports and stage performances close to home. For time on the water, Wixom Lake, a reservoir, and the Chippewa River are a longer drive away.
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- 560households
- 27%of adults have a degree
- 17%below the poverty line
- 18 mintypical commute
- 3%work from home
What residents work in
Employed residents by industry, from the Census survey. Isabella County had 26,856 jobs in 2025, 0.8% more than the year before (Bureau of Labor Statistics).
Weather through the year
Coldest in January, with highs near 30° and lows near 16°; warmest in July, with highs near 84° and lows near 61°. About 35 inches of rain and melted snow a year.
Average daily high and low, 1991–2020, at the Central Michigan Univ weather station, 6 miles away (NOAA).
Largest workplaces in Shepherd
- Shepherd Public SchoolsSchool district235FTE
- C & R Electric - Main OfficeElectric contracting95
- Highland PlasticsFilm, plastics, packaging, manufacturing49
Staff on average in 2025, as each workplace reported it to OSHA with its injury records: 2 workplaces with 20 or more staff, 144 people in all. School districts come from the Common Core of Data (NCES, 2023–24); FTE marks full-time equivalent staff. Not listed: many offices and banks, which need not report to OSHA; military bases, whose staff OPM withholds; and, in about half the states, city and county governments.
Natural hazards
- Winter weatherVery high
- Strong windRelatively high
- Cold wavesRelatively high
- TornadoesRelatively high
- HailRelatively moderate
- Inland floodingRelatively moderate
FEMA’s National Risk Index (December 2025) rates the risk each natural hazard poses to the people, buildings and farms in Shepherd’s census tracts, against the rest of the country; all of them together, relatively low. It is meant for planning, not a substitute for a local risk assessment or a flood map: FEMA’s index.
From the U.S. Census Bureau’s 2020 census and its American Community Survey (2020–2024 five-year estimates), and the Bureau of Labor Statistics. A survey, so each figure has a margin of error, and figures it is not sure of are left out. More on Isabella County and the Mount Pleasant, MI metro.
Shepherd home values
Zillow measures a city over its municipal boundary. Against the state and national figures, mid-tier homes, smoothed and seasonally adjusted.
- Shepherd$224,045
- Michigan$263,760
- United States$366,157
Sellers are cutting prices on about 1 in 4 Shepherd listings — the market is roughly in balance.
When this market ran hot
Each cell is that month's year-on-year home-value growth. Read left to right, top row is the latest year — the 2021–22 band is the boom.
Market heat, inside the city limits
Share of listings with a price cut
The early-warning dial: sellers cut when buyers stop reaching. Rising cuts cool a market months before prices notice.
Not enough data to draw this yet.
Homes for sale
Active for-sale inventory. More supply hands power to buyers.
- Shepherd18
New listings per month
Sellers arriving at the market.
- Shepherd7
Zip codes with a Shepherd address
A different geography, not a breakdown. The figure above covers the municipality; these zips cover everywhere the Post Office calls Shepherd — often including townships beyond the city limits. Both come straight from Zillow, and they are not expected to average out.