Iosco County, Michigan Housing Market Prices
Iosco 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 About the same as the Michigan median$139,147
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Median rent 36% below the Michigan median Cheaper than 82% of counties in Michigan$719
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Iosco County | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $139,147 | $138,713 | $248,835 |
| Price Trend (Annual %) | 7.4% | 8.6% | 7.5% |
| Median Gross Rent | $719 | $1,129 | $1,407 |
| Rent Trend (Annual %) | 2.2% | 4.5% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Iosco County is about the same as in Michigan. Rent is about 36% 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 Iosco County, up about 7.4% and 2.2% a year respectively. Home prices are changing faster.
Median rent in Iosco County rose about 23.9% between 2015 and 2024, from $580 to $719. Over the same span, rent in Michigan rose about 44.2%.
Affordability
On average, housing unit costs 2.8 yearly household incomes in Iosco County.
Buying the median-priced home in Iosco County costs roughly 16.1 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 Iosco County. The price-to-rent ratio in Michigan is about 10.2.
| Metric | Iosco County | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $139,147 | $138,713 | $248,835 |
| Median Household Income | $50,099 | $72,977 | $80,455 |
| Price-to-Income Ratio | 2.8 | 1.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Iosco County rose about 57.1%, while median household income rose about 27.2% between 2009 and 2025 — 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 | Iosco County | Michigan Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 47.9% | 64.6% | 58.5% |
| Rental Rate | 10.5% | 23.6% | 31.2% |
| Vacancy Rate | 41.6% | 11.8% | 10.2% |
| Median Tenure (years) | 16.0 | 16.0 | 15.0 |
| Median Year Moved In | 2010 | 2010 | 2011 |
Iosco County has a homeownership rate of 47.9%, lower than the Michigan average of 64.6%. Its housing vacancy rate is 41.6%, compared with 11.8% in Michigan.
Housing Stock
| Metric | Iosco County | Michigan Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.14 people | 2.42 people | 2.53 people |
| Median Structure Built Year | 1973 | 1972 | 1978 |
| Median Number of Rooms | 5.4 | 5.9 | 5.5 |
The typical housing unit in Iosco County was built around 1973. On average, 2.1 people live in a home with about 5.4 rooms, staying for about 16.0 years on average.
Iosco County, MI Housing Compared With Nearby Counties
Iosco County, MI is typical in size for this group, 25,347 residents against a local median of 28,880, so the measures below are close to a like for like comparison. There is no headline here. Every measure below sits within 15% of the median across the nearest counties, which makes Iosco County, MI an unremarkable member of its own neighbourhood rather than an outlier in it.
The largest of those small differences is median rent, 9% below the local median at $719 against $788. Iosco County, MI has the 5th highest median rent of the 6 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Iosco County, MI | 25,347 | $139,147 #3/6 | $719 #5/6 | 82.1% #4/6 |
| Alcona County, MI | 10,397 | $152,842 | $866 | 89.6% |
| Huron County, MI | 31,113 | $52,500 | $788 | 81.8% |
| Alpena County, MI | 28,880 | $125,833 | $672 | 80.0% |
| Arenac County, MI | 15,076 | $176,613 | $761 | 86.2% |
| Tuscola County, MI | 52,980 | $135,750 | $819 | 86.4% |
Frequently Asked Questions
Common questions about the housing market in Iosco County, Michigan.
What is the median home price in Iosco County, Michigan?
The median home price in Iosco County, Michigan is $139,147, about the same as the Michigan average.
What is the average home price in Iosco County, Michigan?
The typical home price in Iosco County, Michigan, reported as the median sale price, is $139,147. 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 Iosco County, Michigan?
The median gross rent in Iosco County, Michigan is $719 per month, lower than the Michigan average of $1,129.
What was the median gross rent in Iosco County in 2020?
In 2020, the median gross rent in Iosco County, Michigan was $649 per month.
What is the price-to-rent ratio in Iosco County, Michigan?
The price-to-rent ratio in Iosco County, Michigan is about 16.1, meaning it would take roughly 16.1 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 Iosco County.
Are home prices or rent rising faster in Iosco County, Michigan?
Both home prices and rent are rising in Iosco County, up about 7.4% and 2.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in Iosco County, Michigan?
47.9% of households in Iosco County, Michigan own their home, lower than the Michigan average of 64.6%.
What is the vacancy rate in Iosco County, Michigan?
The housing vacancy rate in Iosco County, Michigan is 41.6%, higher than the Michigan average of 11.8%.
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