Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Baraga County | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $75,000 | $134,610 | $242,182 |
| Price Trend (Annual %) | -4.9% | 9.4% | 8.2% |
| Median Gross Rent | $557 | $1,084 | $1,342 |
| Rent Trend (Annual %) | 0.6% | 4.5% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Baraga County is about 44% lower than in Michigan. Rent is about 49% lower than the Michigan average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Home prices and rent are moving in opposite directions in Baraga County: home prices fell about 4.9% a year while rent rose about 0.6% a year. That is an unusual pattern worth watching.
Median rent in Baraga County rose about 8.0% between 2015 and 2023, from $515 to $557. Over the same span, rent in Michigan rose about 38.5%.
Affordability
On average, housing unit costs 1.4 yearly household incomes in Baraga County.
Buying the median-priced home in Baraga County costs roughly 11.2 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Baraga County. The price-to-rent ratio in Michigan is about 10.3.
| Metric | Baraga County | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $75,000 | $134,610 | $242,182 |
| Median Household Income | $55,439 | $71,353 | $78,145 |
| Price-to-Income Ratio | 1.4 | 1.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Baraga County fell about 30.9%, while median household income rose about 36.9% between 2010 and 2023 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Baraga County | Michigan Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 50.6% | 64.1% | 58.2% |
| Rental Rate | 15.2% | 23.8% | 31.3% |
| Vacancy Rate | 34.2% | 12.2% | 10.6% |
| Median Tenure (years) | 20.0 | 16.0 | 15.0 |
| Median Year Moved In | 2006 | 2010 | 2011 |
Baraga County has a homeownership rate of 50.6%, lower than the Michigan average of 64.1%. Its housing vacancy rate is 34.2%, compared with 12.2% in Michigan.
Housing Stock
| Metric | Baraga County | Michigan Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.16 people | 2.43 people | 2.54 people |
| Median Structure Built Year | 1969 | 1972 | 1978 |
| Median Number of Rooms | 5.1 | 5.8 | 5.5 |
The typical housing unit in Baraga County was built around 1969. On average, 2.2 people live in a home with about 5.1 rooms, staying for about 20.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Baraga County, Michigan.
What is the median home price in Baraga County, Michigan?
The median home price in Baraga County, Michigan is $75,000, lower than the Michigan average of $134,610.
What is the average home price in Baraga County, Michigan?
The typical home price in %s, reported as the median sale price, is %s. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Baraga County, Michigan?
The median gross rent in Baraga County, Michigan is $557 per month, lower than the Michigan average of $1,084.
What was the median gross rent in Baraga County in 2020?
In 2020, the median gross rent in Baraga County, Michigan was $555 per month.
What is the price-to-rent ratio in Baraga County, Michigan?
The price-to-rent ratio in Baraga County, Michigan is about 11.2, meaning it would take roughly 11.2 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Baraga County.
Are home prices or rent rising faster in Baraga County, Michigan?
Home prices and rent are moving in opposite directions in Baraga County: home prices fell about 4.9% a year while rent rose about 0.6% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Baraga County, Michigan?
50.6% of households in Baraga County, Michigan own their home, lower than the Michigan average of 64.1%.
What is the vacancy rate in Baraga County, Michigan?
The housing vacancy rate in Baraga County, Michigan is 34.2%, higher than the Michigan average of 12.2%.