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 | Isabella County | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $128,750 | $134,610 | $242,182 |
| Price Trend (Annual %) | 3.1% | 9.4% | 8.2% |
| Median Gross Rent | $863 | $1,084 | $1,342 |
| Rent Trend (Annual %) | 3.0% | 4.5% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Isabella County is about 4% lower than in Michigan. Rent is about 20% 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 Isabella County, up about 3.1% and 3.0% a year respectively. Home prices are changing faster.
Median rent in Isabella County rose about 20.5% between 2015 and 2023, from $716 to $863. Over the same span, rent in Michigan rose about 38.5%.
Affordability
On average, housing unit costs 2.4 yearly household incomes in Isabella County.
Buying the median-priced home in Isabella County costs roughly 12.4 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 Isabella County. The price-to-rent ratio in Michigan is about 10.3.
| Metric | Isabella County | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $128,750 | $134,610 | $242,182 |
| Median Household Income | $53,748 | $71,353 | $78,145 |
| Price-to-Income Ratio | 2.4 | 1.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Isabella County rose about 17.7%, while median household income rose about 46.0% between 2009 and 2023 — 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 | Isabella County | Michigan Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 53.4% | 64.1% | 58.2% |
| Rental Rate | 33.8% | 23.8% | 31.3% |
| Vacancy Rate | 12.8% | 12.2% | 10.6% |
| Median Tenure (years) | 15.0 | 16.0 | 15.0 |
| Median Year Moved In | 2011 | 2010 | 2011 |
Isabella County has a homeownership rate of 53.4%, lower than the Michigan average of 64.1%. Its housing vacancy rate is 12.8%, compared with 12.2% in Michigan.
Housing Stock
| Metric | Isabella County | Michigan Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.37 people | 2.43 people | 2.54 people |
| Median Structure Built Year | 1984 | 1972 | 1978 |
| Median Number of Rooms | 5.7 | 5.8 | 5.5 |
The typical housing unit in Isabella County was built around 1984. On average, 2.4 people live in a home with about 5.7 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Isabella County, Michigan.
What is the median home price in Isabella County, Michigan?
The median home price in Isabella County, Michigan is $128,750, lower than the Michigan average of $134,610.
What is the average home price in Isabella 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 Isabella County, Michigan?
The median gross rent in Isabella County, Michigan is $863 per month, lower than the Michigan average of $1,084.
What was the median gross rent in Isabella County in 2020?
In 2020, the median gross rent in Isabella County, Michigan was $737 per month.
What is the price-to-rent ratio in Isabella County, Michigan?
The price-to-rent ratio in Isabella County, Michigan is about 12.4, meaning it would take roughly 12.4 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 Isabella County.
Are home prices or rent rising faster in Isabella County, Michigan?
Both home prices and rent are rising in Isabella County, up about 3.1% and 3.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Isabella County, Michigan?
53.4% of households in Isabella County, Michigan own their home, lower than the Michigan average of 64.1%.
What is the vacancy rate in Isabella County, Michigan?
The housing vacancy rate in Isabella County, Michigan is 12.8%, higher than the Michigan average of 12.2%.