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 | Montcalm County | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $177,500 | $134,610 | $242,182 |
| Price Trend (Annual %) | 23.4% | 9.4% | 8.2% |
| Median Gross Rent | $867 | $1,084 | $1,342 |
| Rent Trend (Annual %) | 3.8% | 4.5% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Montcalm County is about 32% higher 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 Montcalm County, up about 23.4% and 3.8% a year respectively. Home prices are changing faster.
Median rent in Montcalm County rose about 25.4% between 2015 and 2023, from $691 to $867. Over the same span, rent in Michigan rose about 38.5%.
Affordability
On average, housing unit costs 2.7 yearly household incomes in Montcalm County.
Buying the median-priced home in Montcalm County costs roughly 17.1 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 Montcalm County. The price-to-rent ratio in Michigan is about 10.3.
| Metric | Montcalm County | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $177,500 | $134,610 | $242,182 |
| Median Household Income | $64,785 | $71,353 | $78,145 |
| Price-to-Income Ratio | 2.7 | 1.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Montcalm County rose about 240.5%, while median household income rose about 58.3% between 2009 and 2023 — 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 | Montcalm County | Michigan Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 70.8% | 64.1% | 58.2% |
| Rental Rate | 15.3% | 23.8% | 31.3% |
| Vacancy Rate | 13.9% | 12.2% | 10.6% |
| Median Tenure (years) | 17.0 | 16.0 | 15.0 |
| Median Year Moved In | 2009 | 2010 | 2011 |
Montcalm County has a homeownership rate of 70.8%, higher than the Michigan average of 64.1%. Its housing vacancy rate is 13.9%, compared with 12.2% in Michigan.
Housing Stock
| Metric | Montcalm County | Michigan Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.67 people | 2.43 people | 2.54 people |
| Median Structure Built Year | 1977 | 1972 | 1978 |
| Median Number of Rooms | 5.9 | 5.8 | 5.5 |
The typical housing unit in Montcalm County was built around 1977. On average, 2.7 people live in a home with about 5.9 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Montcalm County, Michigan.
What is the median home price in Montcalm County, Michigan?
The median home price in Montcalm County, Michigan is $177,500, higher than the Michigan average of $134,610.
What is the average home price in Montcalm 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 Montcalm County, Michigan?
The median gross rent in Montcalm County, Michigan is $867 per month, lower than the Michigan average of $1,084.
What was the median gross rent in Montcalm County in 2020?
In 2020, the median gross rent in Montcalm County, Michigan was $727 per month.
What is the price-to-rent ratio in Montcalm County, Michigan?
The price-to-rent ratio in Montcalm County, Michigan is about 17.1, meaning it would take roughly 17.1 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 Montcalm County.
Are home prices or rent rising faster in Montcalm County, Michigan?
Both home prices and rent are rising in Montcalm County, up about 23.4% and 3.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in Montcalm County, Michigan?
70.8% of households in Montcalm County, Michigan own their home, higher than the Michigan average of 64.1%.
What is the vacancy rate in Montcalm County, Michigan?
The housing vacancy rate in Montcalm County, Michigan is 13.9%, higher than the Michigan average of 12.2%.