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 | Delta County | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $158,322 | $134,610 | $242,182 |
| Price Trend (Annual %) | 13.5% | 9.4% | 8.2% |
| Median Gross Rent | $697 | $1,084 | $1,342 |
| Rent Trend (Annual %) | 3.2% | 4.5% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Delta County is about 18% higher than in Michigan. Rent is about 36% 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 Delta County, up about 13.5% and 3.2% a year respectively. Home prices are changing faster.
Median rent in Delta County rose about 30.0% between 2015 and 2023, from $536 to $697. Over the same span, rent in Michigan rose about 38.5%.
Affordability
On average, housing unit costs 2.9 yearly household incomes in Delta County.
Buying the median-priced home in Delta County costs roughly 18.9 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 Delta County. The price-to-rent ratio in Michigan is about 10.3.
| Metric | Delta County | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $158,322 | $134,610 | $242,182 |
| Median Household Income | $55,437 | $71,353 | $78,145 |
| Price-to-Income Ratio | 2.9 | 1.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Delta County rose about 140.0%, while median household income rose about 31.6% 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 | Delta County | Michigan Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 63.0% | 64.1% | 58.2% |
| Rental Rate | 17.1% | 23.8% | 31.3% |
| Vacancy Rate | 19.9% | 12.2% | 10.6% |
| Median Tenure (years) | 19.0 | 16.0 | 15.0 |
| Median Year Moved In | 2007 | 2010 | 2011 |
Delta County has a homeownership rate of 63.0%, lower than the Michigan average of 64.1%. Its housing vacancy rate is 19.9%, compared with 12.2% in Michigan.
Housing Stock
| Metric | Delta County | Michigan Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.28 people | 2.43 people | 2.54 people |
| Median Structure Built Year | 1966 | 1972 | 1978 |
| Median Number of Rooms | 5.6 | 5.8 | 5.5 |
The typical housing unit in Delta County was built around 1966. On average, 2.3 people live in a home with about 5.6 rooms, staying for about 19.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Delta County, Michigan.
What is the median home price in Delta County, Michigan?
The median home price in Delta County, Michigan is $158,322, higher than the Michigan average of $134,610.
What is the average home price in Delta 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 Delta County, Michigan?
The median gross rent in Delta County, Michigan is $697 per month, lower than the Michigan average of $1,084.
What was the median gross rent in Delta County in 2020?
In 2020, the median gross rent in Delta County, Michigan was $547 per month.
What is the price-to-rent ratio in Delta County, Michigan?
The price-to-rent ratio in Delta County, Michigan is about 18.9, meaning it would take roughly 18.9 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 Delta County.
Are home prices or rent rising faster in Delta County, Michigan?
Both home prices and rent are rising in Delta County, up about 13.5% and 3.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in Delta County, Michigan?
63.0% of households in Delta County, Michigan own their home, lower than the Michigan average of 64.1%.
What is the vacancy rate in Delta County, Michigan?
The housing vacancy rate in Delta County, Michigan is 19.9%, higher than the Michigan average of 12.2%.