Keweenaw County, Michigan Housing Market Prices
Keweenaw 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 127% above the Michigan median More expensive than 93% of counties in Michigan$314,286
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Median rent 39% below the Michigan median Cheaper than 90% of counties in Michigan$687
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Keweenaw County | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $314,286 | $138,713 | $248,835 |
| Price Trend (Annual %) | 77.3% | 8.6% | 7.5% |
| Median Gross Rent | $687 | $1,129 | $1,407 |
| Rent Trend (Annual %) | 2.9% | 4.5% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Keweenaw County is about 127% higher than in Michigan. Rent is about 39% 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 Keweenaw County, up about 77.3% and 2.9% a year respectively. Home prices are changing faster.
Median rent in Keweenaw County rose about 22.2% between 2015 and 2024, from $562 to $687. Over the same span, rent in Michigan rose about 44.2%.
Affordability
On average, housing unit costs 6.0 yearly household incomes in Keweenaw County.
Buying the median-priced home in Keweenaw County costs roughly 38.1 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 Keweenaw County. The price-to-rent ratio in Michigan is about 10.2.
| Metric | Keweenaw County | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $314,286 | $138,713 | $248,835 |
| Median Household Income | $52,806 | $72,977 | $80,455 |
| Price-to-Income Ratio | 6.0 | 1.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Keweenaw County rose about 541.4%, while median household income rose about 49.0% 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 | Keweenaw County | Michigan Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 44.6% | 64.6% | 58.5% |
| Rental Rate | 4.6% | 23.6% | 31.2% |
| Vacancy Rate | 50.8% | 11.8% | 10.2% |
| Median Tenure (years) | 17.0 | 16.0 | 15.0 |
| Median Year Moved In | 2009 | 2010 | 2011 |
Keweenaw County has a homeownership rate of 44.6%, lower than the Michigan average of 64.6%. Its housing vacancy rate is 50.8%, compared with 11.8% in Michigan.
Housing Stock
| Metric | Keweenaw County | Michigan Avg | US Average |
|---|---|---|---|
| Average Household Size | 1.86 people | 2.42 people | 2.53 people |
| Median Structure Built Year | 1958 | 1972 | 1978 |
| Median Number of Rooms | 5.3 | 5.9 | 5.5 |
The typical housing unit in Keweenaw County was built around 1958. On average, 1.9 people live in a home with about 5.3 rooms, staying for about 17.0 years on average.
Keweenaw County, MI Housing Compared With Nearby Counties
How Keweenaw County, MI compares with the 2 counties closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Keweenaw County, MI | 2,133 | $314,286 #1/3 | $687 #3/3 | 90.7% #1/3 |
| Houghton County, MI | 34,105 | $102,273 | $840 | 74.1% |
| Marquette County, MI | 66,775 | $185,162 | $949 | 69.7% |
Frequently Asked Questions
Common questions about the housing market in Keweenaw County, Michigan.
What is the median home price in Keweenaw County, Michigan?
The median home price in Keweenaw County, Michigan is $314,286, higher than the Michigan average of $138,713.
What is the average home price in Keweenaw County, Michigan?
The typical home price in Keweenaw County, Michigan, reported as the median sale price, is $314,286. 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 Keweenaw County, Michigan?
The median gross rent in Keweenaw County, Michigan is $687 per month, lower than the Michigan average of $1,129.
What was the median gross rent in Keweenaw County in 2020?
In 2020, the median gross rent in Keweenaw County, Michigan was $562 per month.
What is the price-to-rent ratio in Keweenaw County, Michigan?
The price-to-rent ratio in Keweenaw County, Michigan is about 38.1, meaning it would take roughly 38.1 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 Keweenaw County.
Are home prices or rent rising faster in Keweenaw County, Michigan?
Both home prices and rent are rising in Keweenaw County, up about 77.3% and 2.9% a year respectively. Home prices are changing faster.
What is the homeownership rate in Keweenaw County, Michigan?
44.6% of households in Keweenaw County, Michigan own their home, lower than the Michigan average of 64.6%.
What is the vacancy rate in Keweenaw County, Michigan?
The housing vacancy rate in Keweenaw County, Michigan is 50.8%, higher than the Michigan average of 11.8%.
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