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 | Roscommon County | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $157,994 | $134,610 | $242,182 |
| Price Trend (Annual %) | 7.4% | 9.4% | 8.2% |
| Median Gross Rent | $788 | $1,084 | $1,342 |
| Rent Trend (Annual %) | 3.3% | 4.5% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Roscommon County is about 17% higher than in Michigan. Rent is about 27% 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 Roscommon County, up about 7.4% and 3.3% a year respectively. Home prices are changing faster.
Median rent in Roscommon County rose about 25.1% between 2015 and 2023, from $630 to $789. Over the same span, rent in Michigan rose about 38.5%.
Affordability
On average, housing unit costs 2.9 yearly household incomes in Roscommon County.
Buying the median-priced home in Roscommon County costs roughly 16.7 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 Roscommon County. The price-to-rent ratio in Michigan is about 10.3.
| Metric | Roscommon County | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $157,994 | $134,610 | $242,182 |
| Median Household Income | $54,498 | $71,353 | $78,145 |
| Price-to-Income Ratio | 2.9 | 1.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Roscommon County rose about 71.3%, while median household income rose about 59.2% 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 | Roscommon County | Michigan Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 41.8% | 64.1% | 58.2% |
| Rental Rate | 7.8% | 23.8% | 31.3% |
| Vacancy Rate | 50.5% | 12.2% | 10.6% |
| Median Tenure (years) | 16.0 | 16.0 | 15.0 |
| Median Year Moved In | 2010 | 2010 | 2011 |
Roscommon County has a homeownership rate of 41.8%, lower than the Michigan average of 64.1%. Its housing vacancy rate is 50.5%, compared with 12.2% in Michigan.
Housing Stock
| Metric | Roscommon County | Michigan Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.04 people | 2.43 people | 2.54 people |
| Median Structure Built Year | 1978 | 1972 | 1978 |
| Median Number of Rooms | 4.7 | 5.8 | 5.5 |
The typical housing unit in Roscommon County was built around 1978. On average, 2.0 people live in a home with about 4.7 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Roscommon County, Michigan.
What is the median home price in Roscommon County, Michigan?
The median home price in Roscommon County, Michigan is $157,994, higher than the Michigan average of $134,610.
What is the average home price in Roscommon 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 Roscommon County, Michigan?
The median gross rent in Roscommon County, Michigan is $789 per month, lower than the Michigan average of $1,084.
What was the median gross rent in Roscommon County in 2020?
In 2020, the median gross rent in Roscommon County, Michigan was $676 per month.
What is the price-to-rent ratio in Roscommon County, Michigan?
The price-to-rent ratio in Roscommon County, Michigan is about 16.7, meaning it would take roughly 16.7 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 Roscommon County.
Are home prices or rent rising faster in Roscommon County, Michigan?
Both home prices and rent are rising in Roscommon County, up about 7.4% and 3.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in Roscommon County, Michigan?
41.8% of households in Roscommon County, Michigan own their home, lower than the Michigan average of 64.1%.
What is the vacancy rate in Roscommon County, Michigan?
The housing vacancy rate in Roscommon County, Michigan is 50.5%, higher than the Michigan average of 12.2%.