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 | Missaukee County | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $86,911 | $134,610 | $242,182 |
| Price Trend (Annual %) | 0.1% | 9.4% | 8.2% |
| Median Gross Rent | $838 | $1,084 | $1,342 |
| Rent Trend (Annual %) | 2.3% | 4.5% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Missaukee County is about 35% lower than in Michigan. Rent is about 23% 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 Missaukee County, up about 0.1% and 2.3% a year respectively. Rent is changing faster.
Median rent in Missaukee County rose about 16.7% between 2015 and 2023, from $718 to $838. Over the same span, rent in Michigan rose about 38.5%.
Affordability
On average, housing unit costs 1.4 yearly household incomes in Missaukee County.
Buying the median-priced home in Missaukee County costs roughly 8.6 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 Missaukee County. The price-to-rent ratio in Michigan is about 10.3.
| Metric | Missaukee County | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $86,911 | $134,610 | $242,182 |
| Median Household Income | $61,462 | $71,353 | $78,145 |
| Price-to-Income Ratio | 1.4 | 1.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Missaukee County rose about 2.2%, while median household income rose about 59.1% 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 | Missaukee County | Michigan Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 55.5% | 64.1% | 58.2% |
| Rental Rate | 10.8% | 23.8% | 31.3% |
| Vacancy Rate | 33.7% | 12.2% | 10.6% |
| Median Tenure (years) | 16.0 | 16.0 | 15.0 |
| Median Year Moved In | 2010 | 2010 | 2011 |
Missaukee County has a homeownership rate of 55.5%, lower than the Michigan average of 64.1%. Its housing vacancy rate is 33.7%, compared with 12.2% in Michigan.
Housing Stock
| Metric | Missaukee County | Michigan Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.61 people | 2.43 people | 2.54 people |
| Median Structure Built Year | 1978 | 1972 | 1978 |
| Median Number of Rooms | 5.1 | 5.8 | 5.5 |
The typical housing unit in Missaukee County was built around 1978. On average, 2.6 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 Missaukee County, Michigan.
What is the median home price in Missaukee County, Michigan?
The median home price in Missaukee County, Michigan is $86,911, lower than the Michigan average of $134,610.
What is the average home price in Missaukee 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 Missaukee County, Michigan?
The median gross rent in Missaukee County, Michigan is $838 per month, lower than the Michigan average of $1,084.
What was the median gross rent in Missaukee County in 2020?
In 2020, the median gross rent in Missaukee County, Michigan was $727 per month.
What is the price-to-rent ratio in Missaukee County, Michigan?
The price-to-rent ratio in Missaukee County, Michigan is about 8.6, meaning it would take roughly 8.6 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 Missaukee County.
Are home prices or rent rising faster in Missaukee County, Michigan?
Both home prices and rent are rising in Missaukee County, up about 0.1% and 2.3% a year respectively. Rent is changing faster.
What is the homeownership rate in Missaukee County, Michigan?
55.5% of households in Missaukee County, Michigan own their home, lower than the Michigan average of 64.1%.
What is the vacancy rate in Missaukee County, Michigan?
The housing vacancy rate in Missaukee County, Michigan is 33.7%, higher than the Michigan average of 12.2%.