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 | Dickinson County | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $181,251 | $134,610 | $242,182 |
| Price Trend (Annual %) | 33.5% | 9.4% | 8.2% |
| Median Gross Rent | $743 | $1,084 | $1,342 |
| Rent Trend (Annual %) | 1.6% | 4.5% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Dickinson County is about 35% higher than in Michigan. Rent is about 31% 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 Dickinson County, up about 33.5% and 1.6% a year respectively. Home prices are changing faster.
Median rent in Dickinson County rose about 10.0% between 2015 and 2023, from $675 to $743. Over the same span, rent in Michigan rose about 38.5%.
Affordability
On average, housing unit costs 2.9 yearly household incomes in Dickinson County.
Buying the median-priced home in Dickinson County costs roughly 20.3 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Dickinson County. The price-to-rent ratio in Michigan is about 10.3.
| Metric | Dickinson County | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $181,251 | $134,610 | $242,182 |
| Median Household Income | $62,794 | $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 Dickinson County rose about 393.5%, while median household income rose about 52.3% 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 | Dickinson County | Michigan Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 69.4% | 64.1% | 58.2% |
| Rental Rate | 15.5% | 23.8% | 31.3% |
| Vacancy Rate | 15.1% | 12.2% | 10.6% |
| Median Tenure (years) | 20.0 | 16.0 | 15.0 |
| Median Year Moved In | 2006 | 2010 | 2011 |
Dickinson County has a homeownership rate of 69.4%, higher than the Michigan average of 64.1%. Its housing vacancy rate is 15.1%, compared with 12.2% in Michigan.
Housing Stock
| Metric | Dickinson 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 | 5.8 | 5.8 | 5.5 |
The typical housing unit in Dickinson County was built around 1969. On average, 2.2 people live in a home with about 5.8 rooms, staying for about 20.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Dickinson County, Michigan.
What is the median home price in Dickinson County, Michigan?
The median home price in Dickinson County, Michigan is $181,251, higher than the Michigan average of $134,610.
What is the average home price in Dickinson 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 Dickinson County, Michigan?
The median gross rent in Dickinson County, Michigan is $743 per month, lower than the Michigan average of $1,084.
What was the median gross rent in Dickinson County in 2020?
In 2020, the median gross rent in Dickinson County, Michigan was $653 per month.
What is the price-to-rent ratio in Dickinson County, Michigan?
The price-to-rent ratio in Dickinson County, Michigan is about 20.3, meaning it would take roughly 20.3 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Dickinson County.
Are home prices or rent rising faster in Dickinson County, Michigan?
Both home prices and rent are rising in Dickinson County, up about 33.5% and 1.6% a year respectively. Home prices are changing faster.
What is the homeownership rate in Dickinson County, Michigan?
69.4% of households in Dickinson County, Michigan own their home, higher than the Michigan average of 64.1%.
What is the vacancy rate in Dickinson County, Michigan?
The housing vacancy rate in Dickinson County, Michigan is 15.1%, higher than the Michigan average of 12.2%.