Wexford County, Michigan Housing Market Prices
Wexford 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 28% above the Michigan median More expensive than 72% of counties in Michigan$177,633
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Median rent 21% below the Michigan median$896
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Wexford County | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $177,633 | $138,713 | $248,835 |
| Price Trend (Annual %) | 16.1% | 8.6% | 7.5% |
| Median Gross Rent | $896 | $1,129 | $1,407 |
| Rent Trend (Annual %) | 2.9% | 4.5% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Wexford County is about 28% higher than in Michigan. Rent is about 21% 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 Wexford County, up about 16.1% and 2.9% a year respectively. Home prices are changing faster.
Median rent in Wexford County rose about 25.1% between 2015 and 2024, from $717 to $896. Over the same span, rent in Michigan rose about 44.2%.
Affordability
On average, housing unit costs 2.9 yearly household incomes in Wexford County.
Buying the median-priced home in Wexford County costs roughly 16.5 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 Wexford County. The price-to-rent ratio in Michigan is about 10.2.
| Metric | Wexford County | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $177,633 | $138,713 | $248,835 |
| Median Household Income | $61,341 | $72,977 | $80,455 |
| Price-to-Income Ratio | 2.9 | 1.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Wexford County rose about 197.7%, while median household income rose about 43.5% 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 | Wexford County | Michigan Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 66.8% | 64.6% | 58.5% |
| Rental Rate | 15.8% | 23.6% | 31.2% |
| Vacancy Rate | 17.4% | 11.8% | 10.2% |
| Median Tenure (years) | 16.0 | 16.0 | 15.0 |
| Median Year Moved In | 2010 | 2010 | 2011 |
Wexford County has a homeownership rate of 66.8%, higher than the Michigan average of 64.6%. Its housing vacancy rate is 17.4%, compared with 11.8% in Michigan.
Housing Stock
| Metric | Wexford County | Michigan Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.44 people | 2.42 people | 2.53 people |
| Median Structure Built Year | 1980 | 1972 | 1978 |
| Median Number of Rooms | 5.8 | 5.9 | 5.5 |
The typical housing unit in Wexford County was built around 1980. On average, 2.4 people live in a home with about 5.8 rooms, staying for about 16.0 years on average.
Wexford County, MI Housing Compared With Nearby Counties
How Wexford County, MI compares with the 2 counties closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Wexford County, MI | 34,076 | $177,633 #1/3 | $896 #2/3 | 80.9% #2/3 |
| Grand Traverse County, MI | 96,166 | $124,999 | $1,288 | 77.2% |
| Osceola County, MI | 23,226 | $76,471 | $807 | 83.7% |
Frequently Asked Questions
Common questions about the housing market in Wexford County, Michigan.
What is the median home price in Wexford County, Michigan?
The median home price in Wexford County, Michigan is $177,633, higher than the Michigan average of $138,713.
What is the average home price in Wexford County, Michigan?
The typical home price in Wexford County, Michigan, reported as the median sale price, is $177,633. 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 Wexford County, Michigan?
The median gross rent in Wexford County, Michigan is $896 per month, lower than the Michigan average of $1,129.
What was the median gross rent in Wexford County in 2020?
In 2020, the median gross rent in Wexford County, Michigan was $722 per month.
What is the price-to-rent ratio in Wexford County, Michigan?
The price-to-rent ratio in Wexford County, Michigan is about 16.5, meaning it would take roughly 16.5 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 Wexford County.
Are home prices or rent rising faster in Wexford County, Michigan?
Both home prices and rent are rising in Wexford County, up about 16.1% and 2.9% a year respectively. Home prices are changing faster.
What is the homeownership rate in Wexford County, Michigan?
66.8% of households in Wexford County, Michigan own their home, higher than the Michigan average of 64.6%.
What is the vacancy rate in Wexford County, Michigan?
The housing vacancy rate in Wexford County, Michigan is 17.4%, higher than the Michigan average of 11.8%.
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