Gogebic County, Michigan Housing Market Prices
Gogebic 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 58% below the Michigan median Cheaper than 91% of counties in Michigan$58,166
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Median rent 45% below the Michigan median Among the top 3 cheapest counties in Michigan$623
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Gogebic County | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $58,166 | $138,713 | $248,835 |
| Price Trend (Annual %) | 52.8% | 8.6% | 7.5% |
| Median Gross Rent | $623 | $1,129 | $1,407 |
| Rent Trend (Annual %) | 2.6% | 4.5% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Gogebic County is about 58% lower than in Michigan. Rent is about 45% 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 Gogebic County, up about 52.8% and 2.6% a year respectively. Home prices are changing faster.
Median rent in Gogebic County rose about 18.5% between 2015 and 2024, from $526 to $623. Over the same span, rent in Michigan rose about 44.2%.
Affordability
On average, housing unit costs 1.1 yearly household incomes in Gogebic County.
Buying the median-priced home in Gogebic County costs roughly 7.8 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 Gogebic County. The price-to-rent ratio in Michigan is about 10.2.
| Metric | Gogebic County | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $58,166 | $138,713 | $248,835 |
| Median Household Income | $52,407 | $72,977 | $80,455 |
| Price-to-Income Ratio | 1.1 | 1.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Gogebic County rose about 47.4%, while median household income rose about 52.3% 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 | Gogebic County | Michigan Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 54.5% | 64.6% | 58.5% |
| Rental Rate | 12.8% | 23.6% | 31.2% |
| Vacancy Rate | 32.8% | 11.8% | 10.2% |
| Median Tenure (years) | 19.0 | 16.0 | 15.0 |
| Median Year Moved In | 2007 | 2010 | 2011 |
Gogebic County has a homeownership rate of 54.5%, lower than the Michigan average of 64.6%. Its housing vacancy rate is 32.8%, compared with 11.8% in Michigan.
Housing Stock
| Metric | Gogebic County | Michigan Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.00 people | 2.42 people | 2.53 people |
| Median Structure Built Year | 1959 | 1972 | 1978 |
| Median Number of Rooms | 5.6 | 5.9 | 5.5 |
The typical housing unit in Gogebic County was built around 1959. On average, 2.0 people live in a home with about 5.6 rooms, staying for about 19.0 years on average.
Gogebic County, MI Housing Compared With Nearby Counties
How Gogebic County, MI compares with the 2 counties closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Gogebic County, MI | 14,317 | $58,166 #3/3 | $623 #3/3 | 81.0% #3/3 |
| Vilas County, WI | 23,647 | $215,000 | $846 | 84.0% |
| Oneida County, WI | 38,164 | $258,637 | $884 | 82.3% |
Frequently Asked Questions
Common questions about the housing market in Gogebic County, Michigan.
What is the median home price in Gogebic County, Michigan?
The median home price in Gogebic County, Michigan is $58,166, lower than the Michigan average of $138,713.
What is the average home price in Gogebic County, Michigan?
The typical home price in Gogebic County, Michigan, reported as the median sale price, is $58,166. 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 Gogebic County, Michigan?
The median gross rent in Gogebic County, Michigan is $623 per month, lower than the Michigan average of $1,129.
What was the median gross rent in Gogebic County in 2020?
In 2020, the median gross rent in Gogebic County, Michigan was $476 per month.
What is the price-to-rent ratio in Gogebic County, Michigan?
The price-to-rent ratio in Gogebic County, Michigan is about 7.8, meaning it would take roughly 7.8 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 Gogebic County.
Are home prices or rent rising faster in Gogebic County, Michigan?
Both home prices and rent are rising in Gogebic County, up about 52.8% and 2.6% a year respectively. Home prices are changing faster.
What is the homeownership rate in Gogebic County, Michigan?
54.5% of households in Gogebic County, Michigan own their home, lower than the Michigan average of 64.6%.
What is the vacancy rate in Gogebic County, Michigan?
The housing vacancy rate in Gogebic County, Michigan is 32.8%, higher than the Michigan average of 11.8%.
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