Benzie County, Michigan Housing Market Prices
Benzie County Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 72% above the Michigan median More expensive than 83% of counties in Michigan$239,000
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Median rent 9% below the Michigan median More expensive than 78% of counties in Michigan$1,026
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Benzie County | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $239,000 | $138,713 | $248,835 |
| Price Trend (Annual %) | 3.0% | 8.6% | 7.5% |
| Median Gross Rent | $1,026 | $1,129 | $1,407 |
| Rent Trend (Annual %) | 4.5% | 4.5% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Benzie County is about 72% higher than in Michigan. Rent is about 9% lower than the Michigan average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Benzie County, up about 3.0% and 4.5% a year respectively. Rent is changing faster.
Median rent in Benzie County rose about 44.0% between 2015 and 2024, from $712 to $1,026. Over the same span, rent in Michigan rose about 44.2%.
Affordability
On average, housing unit costs 3.2 yearly household incomes in Benzie County.
Buying the median-priced home in Benzie County costs roughly 19.4 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Benzie County. The price-to-rent ratio in Michigan is about 10.2.
| Metric | Benzie County | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $239,000 | $138,713 | $248,835 |
| Median Household Income | $74,821 | $72,977 | $80,455 |
| Price-to-Income Ratio | 3.2 | 1.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Benzie County rose about 26.8%, while median household income rose about 61.6% between 2009 and 2025 — 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 | Benzie County | Michigan Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 54.9% | 64.6% | 58.5% |
| Rental Rate | 7.7% | 23.6% | 31.2% |
| Vacancy Rate | 37.5% | 11.8% | 10.2% |
| Median Tenure (years) | 18.0 | 16.0 | 15.0 |
| Median Year Moved In | 2008 | 2010 | 2011 |
Benzie County has a homeownership rate of 54.9%, lower than the Michigan average of 64.6%. Its housing vacancy rate is 37.5%, compared with 11.8% in Michigan.
Housing Stock
| Metric | Benzie County | Michigan Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.34 people | 2.42 people | 2.53 people |
| Median Structure Built Year | 1986 | 1972 | 1978 |
| Median Number of Rooms | 5.4 | 5.9 | 5.5 |
The typical housing unit in Benzie County was built around 1986. On average, 2.3 people live in a home with about 5.4 rooms, staying for about 18.0 years on average.
Benzie County, MI Housing Compared With Nearby Counties
Benzie County, MI is the smallest of the 5 counties compared here, 18,310 residents against a local median of 27,277. There is no headline here. Every measure below sits within 15% of the median across the nearest counties, which makes Benzie County, MI an unremarkable member of its own neighbourhood rather than an outlier in it.
The largest of those small differences is median home price, 9% below the local median at $239,000 against $263,630. Benzie County, MI has the 4th highest median home price of the 5 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Benzie County, MI | 18,310 | $239,000 #4/5 | $1,026 #3/5 | 87.8% #2/5 |
| Manistee County, MI | 25,350 | $272,572 | $841 | 85.8% |
| Leelanau County, MI | 22,734 | $294,921 | $1,227 | 91.6% |
| Mason County, MI | 29,204 | $254,688 | $895 | 78.3% |
| Grand Traverse County, MI | 96,166 | $124,999 | $1,288 | 77.2% |
Frequently Asked Questions
Common questions about the housing market in Benzie County, Michigan.
What is the median home price in Benzie County, Michigan?
The median home price in Benzie County, Michigan is $239,000, higher than the Michigan average of $138,713.
What is the average home price in Benzie County, Michigan?
The typical home price in Benzie County, Michigan, reported as the median sale price, is $239,000. 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 Benzie County, Michigan?
The median gross rent in Benzie County, Michigan is $1,026 per month, lower than the Michigan average of $1,129.
What was the median gross rent in Benzie County in 2020?
In 2020, the median gross rent in Benzie County, Michigan was $803 per month.
What is the price-to-rent ratio in Benzie County, Michigan?
The price-to-rent ratio in Benzie County, Michigan is about 19.4, meaning it would take roughly 19.4 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Benzie County.
Are home prices or rent rising faster in Benzie County, Michigan?
Both home prices and rent are rising in Benzie County, up about 3.0% and 4.5% a year respectively. Rent is changing faster.
What is the homeownership rate in Benzie County, Michigan?
54.9% of households in Benzie County, Michigan own their home, lower than the Michigan average of 64.6%.
What is the vacancy rate in Benzie County, Michigan?
The housing vacancy rate in Benzie County, Michigan is 37.5%, higher than the Michigan average of 11.8%.
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