Muskegon, Michigan Housing Market Prices
Muskegon 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 14% above the Michigan median$158,089
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Median rent 11% below the Michigan median$999
Housing Market Overview
| Metric | Muskegon | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $158,089 | $138,713 | $248,835 |
| Price Trend (Annual %) | 26.8% | 8.6% | 7.5% |
| Median Gross Rent | $999 | $1,129 | $1,407 |
| Rent Trend (Annual %) | 5.5% | 4.5% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Muskegon is about 14% higher than in Michigan. Rent is about 11% 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 Muskegon, up about 26.8% and 5.5% a year respectively. Home prices are changing faster.
Median rent in Muskegon rose about 56.7% between 2015 and 2024, from $637 to $999. Over the same span, rent in Michigan rose about 44.2%.
Affordability
On average, housing unit costs 3.5 yearly household incomes in Muskegon.
Buying the median-priced home in Muskegon costs roughly 13.2 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 Muskegon. The price-to-rent ratio in Michigan is about 10.2.
| Metric | Muskegon | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $158,089 | $138,713 | $248,835 |
| Median Household Income | $45,003 | $72,977 | $80,455 |
| Price-to-Income Ratio | 3.5 | 1.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Muskegon rose about 355.2%, while median household income rose about 44.7% 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 | Muskegon | Michigan Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 45.9% | 64.6% | 58.5% |
| Rental Rate | 40.8% | 23.6% | 31.2% |
| Vacancy Rate | 13.2% | 11.8% | 10.2% |
| Median Tenure (years) | 12.0 | 16.0 | 15.0 |
| Median Year Moved In | 2014 | 2010 | 2011 |
Muskegon has a homeownership rate of 45.9%, lower than the Michigan average of 64.6%. Its housing vacancy rate is 13.2%, compared with 11.8% in Michigan.
Housing Stock
| Metric | Muskegon | Michigan Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.36 people | 2.42 people | 2.53 people |
| Median Structure Built Year | 1953 | 1972 | 1978 |
| Median Number of Rooms | 5.2 | 5.9 | 5.5 |
The typical housing unit in Muskegon was built around 1953. On average, 2.4 people live in a home with about 5.2 rooms, staying for about 12.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Muskegon, Michigan.
What is the median home price in Muskegon, Michigan?
The median home price in Muskegon, Michigan is $158,089, higher than the Michigan average of $138,713.
What is the average home price in Muskegon, Michigan?
The typical home price in Muskegon, Michigan, reported as the median sale price, is $158,089. 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 Muskegon, Michigan?
The median gross rent in Muskegon, Michigan is $999 per month, lower than the Michigan average of $1,129.
What was the median gross rent in Muskegon in 2020?
In 2020, the median gross rent in Muskegon, Michigan was $742 per month.
What is the price-to-rent ratio in Muskegon, Michigan?
The price-to-rent ratio in Muskegon, Michigan is about 13.2, meaning it would take roughly 13.2 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 Muskegon.
Are home prices or rent rising faster in Muskegon, Michigan?
Both home prices and rent are rising in Muskegon, up about 26.8% and 5.5% a year respectively. Home prices are changing faster.
What is the homeownership rate in Muskegon, Michigan?
45.9% of households in Muskegon, Michigan own their home, lower than the Michigan average of 64.6%.
What is the vacancy rate in Muskegon, Michigan?
The housing vacancy rate in Muskegon, Michigan is 13.2%, higher than the Michigan average of 11.8%.
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