Presque Isle County, Michigan Housing Market Prices
Presque Isle County 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 52% above the Michigan median More expensive than 80% of counties in Michigan$210,999
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Median rent 40% below the Michigan median Cheaper than 93% of counties in Michigan$683
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Presque Isle County | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $210,999 | $138,713 | $248,835 |
| Price Trend (Annual %) | 31.8% | 8.6% | 7.5% |
| Median Gross Rent | $683 | $1,129 | $1,407 |
| Rent Trend (Annual %) | 2.2% | 4.5% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Presque Isle County is about 52% higher than in Michigan. Rent is about 40% 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 Presque Isle County, up about 31.8% and 2.2% a year respectively. Home prices are changing faster.
Median rent in Presque Isle County rose about 22.4% between 2015 and 2024, from $558 to $683. Over the same span, rent in Michigan rose about 44.2%.
Affordability
On average, housing unit costs 3.5 yearly household incomes in Presque Isle County.
Buying the median-priced home in Presque Isle County costs roughly 25.8 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Presque Isle County. The price-to-rent ratio in Michigan is about 10.2.
| Metric | Presque Isle County | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $210,999 | $138,713 | $248,835 |
| Median Household Income | $59,470 | $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 Presque Isle County rose about 77.7%, while median household income rose about 47.8% 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 | Presque Isle County | Michigan Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 60.2% | 64.6% | 58.5% |
| Rental Rate | 7.7% | 23.6% | 31.2% |
| Vacancy Rate | 32.1% | 11.8% | 10.2% |
| Median Tenure (years) | 19.0 | 16.0 | 15.0 |
| Median Year Moved In | 2007 | 2010 | 2011 |
Presque Isle County has a homeownership rate of 60.2%, lower than the Michigan average of 64.6%. Its housing vacancy rate is 32.1%, compared with 11.8% in Michigan.
Housing Stock
| Metric | Presque Isle County | Michigan Avg | US Average |
|---|---|---|---|
| Average Household Size | 1.96 people | 2.42 people | 2.53 people |
| Median Structure Built Year | 1972 | 1972 | 1978 |
| Median Number of Rooms | 5.5 | 5.9 | 5.5 |
The typical housing unit in Presque Isle County was built around 1972. On average, 2.0 people live in a home with about 5.5 rooms, staying for about 19.0 years on average.
Presque Isle County, MI Housing Compared With Nearby Counties
How Presque Isle County, MI compares with the 2 counties closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Presque Isle County, MI | 13,209 | $210,999 #1/3 | $683 #2/3 | 88.7% #2/3 |
| Alpena County, MI | 28,880 | $125,833 | $672 | 80.0% |
| Alcona County, MI | 10,397 | $152,842 | $866 | 89.6% |
Frequently Asked Questions
Common questions about the housing market in Presque Isle County, Michigan.
What is the median home price in Presque Isle County, Michigan?
The median home price in Presque Isle County, Michigan is $210,999, higher than the Michigan average of $138,713.
What is the average home price in Presque Isle County, Michigan?
The typical home price in Presque Isle County, Michigan, reported as the median sale price, is $210,999. 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 Presque Isle County, Michigan?
The median gross rent in Presque Isle County, Michigan is $683 per month, lower than the Michigan average of $1,129.
What was the median gross rent in Presque Isle County in 2020?
In 2020, the median gross rent in Presque Isle County, Michigan was $552 per month.
What is the price-to-rent ratio in Presque Isle County, Michigan?
The price-to-rent ratio in Presque Isle County, Michigan is about 25.8, meaning it would take roughly 25.8 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Presque Isle County.
Are home prices or rent rising faster in Presque Isle County, Michigan?
Both home prices and rent are rising in Presque Isle County, up about 31.8% and 2.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in Presque Isle County, Michigan?
60.2% of households in Presque Isle County, Michigan own their home, lower than the Michigan average of 64.6%.
What is the vacancy rate in Presque Isle County, Michigan?
The housing vacancy rate in Presque Isle County, Michigan is 32.1%, higher than the Michigan average of 11.8%.
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