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 | Menominee County | Wisconsin Avg | US Average |
|---|---|---|---|
| Median Home Price | $450,000 | $176,921 | $242,182 |
| Price Trend (Annual %) | 1.0% | 5.3% | 8.2% |
| Median Gross Rent | $624 | $1,045 | $1,342 |
| Rent Trend (Annual %) | 4.6% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Menominee County is about 154% higher than in Wisconsin. Rent is about 40% lower than the Wisconsin average.
Median Home and Rent Price Trends
Median Home Prices, 2016-2020
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Menominee County, up about 1.0% and 4.6% a year respectively. Rent is changing faster.
Median rent in Menominee County rose about 33.2% between 2015 and 2023, from $468 to $624. Over the same span, rent in Wisconsin rose about 34.7%.
Affordability
On average, housing unit costs 7.6 yearly household incomes in Menominee County.
Buying the median-priced home in Menominee County costs roughly 60.1 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 Menominee County. The price-to-rent ratio in Wisconsin is about 14.1.
| Metric | Menominee County | Wisconsin Avg | US Average |
|---|---|---|---|
| Median Home Price | $450,000 | $176,921 | $242,182 |
| Median Household Income | $59,264 | $75,766 | $78,145 |
| Price-to-Income Ratio | 7.6 | 2.3 | 3.1 |
Home Prices vs Income Over Time
Between 2016 and 2020, the median home price in Menominee County rose about 4.1%, while median household income rose about 85.4% 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 | Menominee County | Wisconsin Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 45.7% | 60.4% | 58.2% |
| Rental Rate | 16.5% | 28.6% | 31.3% |
| Vacancy Rate | 37.8% | 11.1% | 10.6% |
| Median Tenure (years) | 20.0 | 16.0 | 15.0 |
| Median Year Moved In | 2006 | 2010 | 2011 |
Menominee County has a homeownership rate of 45.7%, lower than the Wisconsin average of 60.4%. Its housing vacancy rate is 37.8%, compared with 11.1% in Wisconsin.
Housing Stock
| Metric | Menominee County | Wisconsin Avg | US Average |
|---|---|---|---|
| Average Household Size | 3.15 people | 2.35 people | 2.54 people |
| Median Structure Built Year | 1979 | 1973 | 1978 |
| Median Number of Rooms | 5.3 | 5.6 | 5.5 |
The typical housing unit in Menominee County was built around 1979. On average, 3.1 people live in a home with about 5.3 rooms, staying for about 20.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Menominee County, Wisconsin.
What is the median home price in Menominee County, Wisconsin?
The median home price in Menominee County, Wisconsin is $450,000, higher than the Wisconsin average of $176,921.
What is the average home price in Menominee County, Wisconsin?
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 Menominee County, Wisconsin?
The median gross rent in Menominee County, Wisconsin is $624 per month, lower than the Wisconsin average of $1,045.
What was the median gross rent in Menominee County in 2020?
In 2020, the median gross rent in Menominee County, Wisconsin was $555 per month.
What is the price-to-rent ratio in Menominee County, Wisconsin?
The price-to-rent ratio in Menominee County, Wisconsin is about 60.1, meaning it would take roughly 60.1 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 Menominee County.
Are home prices or rent rising faster in Menominee County, Wisconsin?
Both home prices and rent are rising in Menominee County, up about 1.0% and 4.6% a year respectively. Rent is changing faster.
What is the homeownership rate in Menominee County, Wisconsin?
45.7% of households in Menominee County, Wisconsin own their home, lower than the Wisconsin average of 60.4%.
What is the vacancy rate in Menominee County, Wisconsin?
The housing vacancy rate in Menominee County, Wisconsin is 37.8%, higher than the Wisconsin average of 11.1%.