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 | Oscoda County | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $9,582 | $134,610 | $242,182 |
| Price Trend (Annual %) | 7.4% | 9.4% | 8.2% |
| Median Gross Rent | $674 | $1,084 | $1,342 |
| Rent Trend (Annual %) | 2.3% | 4.5% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Oscoda County is about 93% lower than in Michigan. Rent is about 38% 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 Oscoda County, up about 7.4% and 2.3% a year respectively. Home prices are changing faster.
Median rent in Oscoda County rose about 12.6% between 2015 and 2023, from $599 to $674. Over the same span, rent in Michigan rose about 38.5%.
Affordability
On average, housing unit costs 0.2 yearly household incomes in Oscoda County.
Buying the median-priced home in Oscoda County costs roughly 1.2 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 Oscoda County. The price-to-rent ratio in Michigan is about 10.3.
| Metric | Oscoda County | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $9,582 | $134,610 | $242,182 |
| Median Household Income | $50,728 | $71,353 | $78,145 |
| Price-to-Income Ratio | 0.2 | 1.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Oscoda County fell about 83.6%, while median household income rose about 52.2% 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 | Oscoda County | Michigan Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 41.0% | 64.1% | 58.2% |
| Rental Rate | 6.3% | 23.8% | 31.3% |
| Vacancy Rate | 52.7% | 12.2% | 10.6% |
| Median Tenure (years) | 18.0 | 16.0 | 15.0 |
| Median Year Moved In | 2008 | 2010 | 2011 |
Oscoda County has a homeownership rate of 41.0%, lower than the Michigan average of 64.1%. Its housing vacancy rate is 52.7%, compared with 12.2% in Michigan.
Housing Stock
| Metric | Oscoda County | Michigan Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.27 people | 2.43 people | 2.54 people |
| Median Structure Built Year | 1974 | 1972 | 1978 |
| Median Number of Rooms | 4.6 | 5.8 | 5.5 |
The typical housing unit in Oscoda County was built around 1974. On average, 2.3 people live in a home with about 4.6 rooms, staying for about 18.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Oscoda County, Michigan.
What is the median home price in Oscoda County, Michigan?
The median home price in Oscoda County, Michigan is $9,582, lower than the Michigan average of $134,610.
What is the average home price in Oscoda 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 Oscoda County, Michigan?
The median gross rent in Oscoda County, Michigan is $674 per month, lower than the Michigan average of $1,084.
What was the median gross rent in Oscoda County in 2020?
In 2020, the median gross rent in Oscoda County, Michigan was $690 per month.
What is the price-to-rent ratio in Oscoda County, Michigan?
The price-to-rent ratio in Oscoda County, Michigan is about 1.2, meaning it would take roughly 1.2 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 Oscoda County.
Are home prices or rent rising faster in Oscoda County, Michigan?
Both home prices and rent are rising in Oscoda County, up about 7.4% and 2.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in Oscoda County, Michigan?
41.0% of households in Oscoda County, Michigan own their home, lower than the Michigan average of 64.1%.
What is the vacancy rate in Oscoda County, Michigan?
The housing vacancy rate in Oscoda County, Michigan is 52.7%, higher than the Michigan average of 12.2%.