Schoolcraft County, Michigan Housing Market Prices
Schoolcraft 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 22% below the Michigan median Cheaper than 74% of counties in Michigan$108,822
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Median rent 38% below the Michigan median Cheaper than 85% of counties in Michigan$705
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Schoolcraft County | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $108,822 | $138,713 | $248,835 |
| Price Trend (Annual %) | 34.4% | 8.6% | 7.5% |
| Median Gross Rent | $705 | $1,129 | $1,407 |
| Rent Trend (Annual %) | 2.6% | 4.5% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Schoolcraft County is about 22% lower than in Michigan. Rent is about 38% 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 Schoolcraft County, up about 34.4% and 2.6% a year respectively. Home prices are changing faster.
Median rent in Schoolcraft County rose about 23.0% between 2015 and 2024, from $573 to $705. Over the same span, rent in Michigan rose about 44.2%.
Affordability
On average, housing unit costs 1.9 yearly household incomes in Schoolcraft County.
Buying the median-priced home in Schoolcraft County costs roughly 12.9 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 Schoolcraft County. The price-to-rent ratio in Michigan is about 10.2.
| Metric | Schoolcraft County | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $108,822 | $138,713 | $248,835 |
| Median Household Income | $57,138 | $72,977 | $80,455 |
| Price-to-Income Ratio | 1.9 | 1.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Schoolcraft County rose about 25.3%, while median household income rose about 40.9% 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 | Schoolcraft County | Michigan Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 56.6% | 64.6% | 58.5% |
| Rental Rate | 8.7% | 23.6% | 31.2% |
| Vacancy Rate | 34.7% | 11.8% | 10.2% |
| Median Tenure (years) | 19.0 | 16.0 | 15.0 |
| Median Year Moved In | 2007 | 2010 | 2011 |
Schoolcraft County has a homeownership rate of 56.6%, lower than the Michigan average of 64.6%. Its housing vacancy rate is 34.7%, compared with 11.8% in Michigan.
Housing Stock
| Metric | Schoolcraft County | Michigan Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.05 people | 2.42 people | 2.53 people |
| Median Structure Built Year | 1969 | 1972 | 1978 |
| Median Number of Rooms | 5.8 | 5.9 | 5.5 |
The typical housing unit in Schoolcraft County was built around 1969. On average, 2.1 people live in a home with about 5.8 rooms, staying for about 19.0 years on average.
Schoolcraft County, MI Housing Compared With Nearby Counties
Schoolcraft County, MI is the smallest of the 4 counties compared here, 8,128 residents against a local median of 26,108. The measure that sets Schoolcraft County, MI apart most is median home price: $108,822, 63% below the local median of $294,921.
Median rent tells the same story from another angle: $705 against a local median of $949, 26% below it. The counties themselves spread $273,395 on median home price, so Schoolcraft County, MI sits at one end of an already wide local range rather than apart from it. Schoolcraft County, MI has the 3rd highest median home price of the 4 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Schoolcraft County, MI | 8,128 | $108,822 #3/4 | $705 #3/4 | 86.6% #2/4 |
| Delta County, MI | 36,813 | $52,647 | $691 | 82.0% |
| Leelanau County, MI | 22,734 | $294,921 | $1,227 | 91.6% |
| Charlevoix County, MI | 26,108 | $326,041 | $949 | 83.5% |
Frequently Asked Questions
Common questions about the housing market in Schoolcraft County, Michigan.
What is the median home price in Schoolcraft County, Michigan?
The median home price in Schoolcraft County, Michigan is $108,822, lower than the Michigan average of $138,713.
What is the average home price in Schoolcraft County, Michigan?
The typical home price in Schoolcraft County, Michigan, reported as the median sale price, is $108,822. 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 Schoolcraft County, Michigan?
The median gross rent in Schoolcraft County, Michigan is $705 per month, lower than the Michigan average of $1,129.
What was the median gross rent in Schoolcraft County in 2020?
In 2020, the median gross rent in Schoolcraft County, Michigan was $551 per month.
What is the price-to-rent ratio in Schoolcraft County, Michigan?
The price-to-rent ratio in Schoolcraft County, Michigan is about 12.9, meaning it would take roughly 12.9 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 Schoolcraft County.
Are home prices or rent rising faster in Schoolcraft County, Michigan?
Both home prices and rent are rising in Schoolcraft County, up about 34.4% and 2.6% a year respectively. Home prices are changing faster.
What is the homeownership rate in Schoolcraft County, Michigan?
56.6% of households in Schoolcraft County, Michigan own their home, lower than the Michigan average of 64.6%.
What is the vacancy rate in Schoolcraft County, Michigan?
The housing vacancy rate in Schoolcraft County, Michigan is 34.7%, higher than the Michigan average of 11.8%.
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