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 | Calhoun County | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $102,067 | $134,610 | $242,182 |
| Price Trend (Annual %) | 10.7% | 9.4% | 8.2% |
| Median Gross Rent | $937 | $1,084 | $1,342 |
| Rent Trend (Annual %) | 4.4% | 4.5% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Calhoun County is about 24% lower than in Michigan. Rent is about 14% lower than the Michigan average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Calhoun County, up about 10.7% and 4.4% a year respectively. Home prices are changing faster.
Median rent in Calhoun County rose about 37.5% between 2015 and 2023, from $681 to $937. Over the same span, rent in Michigan rose about 38.5%.
Affordability
On average, housing unit costs 1.7 yearly household incomes in Calhoun County.
Buying the median-priced home in Calhoun County costs roughly 9.1 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 Calhoun County. The price-to-rent ratio in Michigan is about 10.3.
| Metric | Calhoun County | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $102,067 | $134,610 | $242,182 |
| Median Household Income | $60,414 | $71,353 | $78,145 |
| Price-to-Income Ratio | 1.7 | 1.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Calhoun County rose about 87.0%, while median household income rose about 42.8% between 2009 and 2023 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Calhoun County | Michigan Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 64.9% | 64.1% | 58.2% |
| Rental Rate | 24.7% | 23.8% | 31.3% |
| Vacancy Rate | 10.4% | 12.2% | 10.6% |
| Median Tenure (years) | 16.0 | 16.0 | 15.0 |
| Median Year Moved In | 2010 | 2010 | 2011 |
Calhoun County has a homeownership rate of 64.9%, higher than the Michigan average of 64.1%. Its housing vacancy rate is 10.4%, compared with 12.2% in Michigan.
Housing Stock
| Metric | Calhoun County | Michigan Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.44 people | 2.43 people | 2.54 people |
| Median Structure Built Year | 1964 | 1972 | 1978 |
| Median Number of Rooms | 5.8 | 5.8 | 5.5 |
The typical housing unit in Calhoun County was built around 1964. On average, 2.4 people live in a home with about 5.8 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Calhoun County, Michigan.
What is the median home price in Calhoun County, Michigan?
The median home price in Calhoun County, Michigan is $102,067, lower than the Michigan average of $134,610.
What is the average home price in Calhoun 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 Calhoun County, Michigan?
The median gross rent in Calhoun County, Michigan is $937 per month, lower than the Michigan average of $1,084.
What was the median gross rent in Calhoun County in 2020?
In 2020, the median gross rent in Calhoun County, Michigan was $775 per month.
What is the price-to-rent ratio in Calhoun County, Michigan?
The price-to-rent ratio in Calhoun County, Michigan is about 9.1, meaning it would take roughly 9.1 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 Calhoun County.
Are home prices or rent rising faster in Calhoun County, Michigan?
Both home prices and rent are rising in Calhoun County, up about 10.7% and 4.4% a year respectively. Home prices are changing faster.
What is the homeownership rate in Calhoun County, Michigan?
64.9% of households in Calhoun County, Michigan own their home, higher than the Michigan average of 64.1%.
What is the vacancy rate in Calhoun County, Michigan?
The housing vacancy rate in Calhoun County, Michigan is 10.4%, lower than the Michigan average of 12.2%.