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 | Kalkaska County | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $72,000 | $134,610 | $242,182 |
| Price Trend (Annual %) | 4.4% | 9.4% | 8.2% |
| Median Gross Rent | $767 | $1,084 | $1,342 |
| Rent Trend (Annual %) | 1.6% | 4.5% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Kalkaska County is about 47% lower than in Michigan. Rent is about 29% 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 Kalkaska County, up about 4.4% and 1.6% a year respectively. Home prices are changing faster.
Median rent in Kalkaska County rose about 8.1% between 2015 and 2023, from $709 to $767. Over the same span, rent in Michigan rose about 38.5%.
Affordability
On average, housing unit costs 1.2 yearly household incomes in Kalkaska County.
Buying the median-priced home in Kalkaska 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 Kalkaska County. The price-to-rent ratio in Michigan is about 10.3.
| Metric | Kalkaska County | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $72,000 | $134,610 | $242,182 |
| Median Household Income | $60,500 | $71,353 | $78,145 |
| Price-to-Income Ratio | 1.2 | 1.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Kalkaska County fell about 20.4%, while median household income rose about 54.0% 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 | Kalkaska County | Michigan Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 57.9% | 64.1% | 58.2% |
| Rental Rate | 8.3% | 23.8% | 31.3% |
| Vacancy Rate | 33.8% | 12.2% | 10.6% |
| Median Tenure (years) | 16.0 | 16.0 | 15.0 |
| Median Year Moved In | 2010 | 2010 | 2011 |
Kalkaska County has a homeownership rate of 57.9%, lower than the Michigan average of 64.1%. Its housing vacancy rate is 33.8%, compared with 12.2% in Michigan.
Housing Stock
| Metric | Kalkaska County | Michigan Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.32 people | 2.43 people | 2.54 people |
| Median Structure Built Year | 1980 | 1972 | 1978 |
| Median Number of Rooms | 5.1 | 5.8 | 5.5 |
The typical housing unit in Kalkaska County was built around 1980. On average, 2.3 people live in a home with about 5.1 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Kalkaska County, Michigan.
What is the median home price in Kalkaska County, Michigan?
The median home price in Kalkaska County, Michigan is $72,000, lower than the Michigan average of $134,610.
What is the average home price in Kalkaska 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 Kalkaska County, Michigan?
The median gross rent in Kalkaska County, Michigan is $767 per month, lower than the Michigan average of $1,084.
What was the median gross rent in Kalkaska County in 2020?
In 2020, the median gross rent in Kalkaska County, Michigan was $689 per month.
What is the price-to-rent ratio in Kalkaska County, Michigan?
The price-to-rent ratio in Kalkaska 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 Kalkaska County.
Are home prices or rent rising faster in Kalkaska County, Michigan?
Both home prices and rent are rising in Kalkaska County, up about 4.4% and 1.6% a year respectively. Home prices are changing faster.
What is the homeownership rate in Kalkaska County, Michigan?
57.9% of households in Kalkaska County, Michigan own their home, lower than the Michigan average of 64.1%.
What is the vacancy rate in Kalkaska County, Michigan?
The housing vacancy rate in Kalkaska County, Michigan is 33.8%, higher than the Michigan average of 12.2%.