Norton Shores, Michigan Housing Market Prices
Norton Shores 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 68% below the Michigan median$45,002
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Median rent 18% above the Michigan median$1,337
Housing Market Overview
| Metric | Norton Shores | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $45,002 | $138,713 | $248,835 |
| Price Trend (Annual %) | -8.9% | 8.6% | 7.5% |
| Median Gross Rent | $1,337 | $1,129 | $1,407 |
| Rent Trend (Annual %) | 5.8% | 4.5% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Norton Shores is about 68% lower than in Michigan. Rent is about 18% higher than the Michigan average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Home prices and rent are moving in opposite directions in Norton Shores: home prices fell about 8.9% a year while rent rose about 5.8% a year. That is an unusual pattern worth watching.
Median rent in Norton Shores rose about 64.3% between 2015 and 2024, from $814 to $1,337. Over the same span, rent in Michigan rose about 44.2%.
Affordability
On average, housing unit costs 0.6 yearly household incomes in Norton Shores.
Buying the median-priced home in Norton Shores costs roughly 2.8 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 Norton Shores. The price-to-rent ratio in Michigan is about 10.2.
| Metric | Norton Shores | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $45,002 | $138,713 | $248,835 |
| Median Household Income | $72,926 | $72,977 | $80,455 |
| Price-to-Income Ratio | 0.6 | 1.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Norton Shores fell about 66.5%, while median household income rose about 43.2% between 2009 and 2025 — 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 | Norton Shores | Michigan Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 75.4% | 64.6% | 58.5% |
| Rental Rate | 16.7% | 23.6% | 31.2% |
| Vacancy Rate | 7.9% | 11.8% | 10.2% |
| Median Tenure (years) | 13.0 | 16.0 | 15.0 |
| Median Year Moved In | 2013 | 2010 | 2011 |
Norton Shores has a homeownership rate of 75.4%, higher than the Michigan average of 64.6%. Its housing vacancy rate is 7.9%, compared with 11.8% in Michigan.
Housing Stock
| Metric | Norton Shores | Michigan Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.50 people | 2.42 people | 2.53 people |
| Median Structure Built Year | 1973 | 1972 | 1978 |
| Median Number of Rooms | 5.8 | 5.9 | 5.5 |
The typical housing unit in Norton Shores was built around 1973. On average, 2.5 people live in a home with about 5.8 rooms, staying for about 13.0 years on average.
Norton Shores, MI Housing Compared With Nearby Cities
How Norton Shores, MI compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Norton Shores, MI | 20,639 | $45,002 #2/2 | $1,337 #1/2 | 81.9% #1/2 |
| Muskegon, MI | 37,029 | $158,089 | $999 | 52.9% |
Frequently Asked Questions
Common questions about the housing market in Norton Shores, Michigan.
What is the median home price in Norton Shores, Michigan?
The median home price in Norton Shores, Michigan is $45,002, lower than the Michigan average of $138,713.
What is the average home price in Norton Shores, Michigan?
The typical home price in Norton Shores, Michigan, reported as the median sale price, is $45,002. 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 Norton Shores, Michigan?
The median gross rent in Norton Shores, Michigan is $1,337 per month, higher than the Michigan average of $1,129.
What was the median gross rent in Norton Shores in 2020?
In 2020, the median gross rent in Norton Shores, Michigan was $971 per month.
What is the price-to-rent ratio in Norton Shores, Michigan?
The price-to-rent ratio in Norton Shores, Michigan is about 2.8, meaning it would take roughly 2.8 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 Norton Shores.
Are home prices or rent rising faster in Norton Shores, Michigan?
Home prices and rent are moving in opposite directions in Norton Shores: home prices fell about 8.9% a year while rent rose about 5.8% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Norton Shores, Michigan?
75.4% of households in Norton Shores, Michigan own their home, higher than the Michigan average of 64.6%.
What is the vacancy rate in Norton Shores, Michigan?
The housing vacancy rate in Norton Shores, Michigan is 7.9%, lower than the Michigan average of 11.8%.
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