Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$196,480+7.6% YoY · prices are rising fast
Market right nowBalanced marketMore homes for sale than last year, 20% have cut their price
Income needed to buy, per year$42,593About 0.8× the local median income ($55,547): affordable for a typical household
Days on market74 daysSlower than a year ago: buyers have time to negotiate
The typical home in Houghton County, MI is worth $196,480, up 7.6% from a year ago. That is slightly above what local incomes have historically supported: fair value is about $180,521, so the area is 8.8% overvalued. It is a balanced market: homes take about 74 days to sell, listings are up 35% from a year ago, 20% of listings have had a price cut. A household needs about $42,593 a year to afford the typical home here at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $55,547. Typical rent is $1,585 a month. In the latest IRS figures, 119 more people moved out than in.
Home value over time
Solid: typical home value · dashed: fair value (household income × the 20-year average price-to-income ratio). Sources: FHFA, Zillow, U.S. Census Bureau.
Prices and affordability
Typical home value
$196,480
Change in 1 year
+7.6%
Overvalued %
+8.8%
Show 6 more
Fair home value
$180,521
Change in 5 years
+20.1%
Home value to income
3.5×
Monthly mortgage payment (20% down)
$1,065
Income needed to afford it
$42,593
Property tax rate
1.16%
Rent and investing
Typical rent
$1,585
Price-to-rent ratio
10.3×
HUD Fair Market Rent, 2 bedrooms
$1,033
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Gross rental yield
9.68%
Cap rate (estimate)
6.29%
Market activity
Listings vs a year ago
+34.7%
Days on market
74
Listings with a price cut
20.0%
Show 3 more
Homes for sale
132
Pending sales per 100 listings
33
Asking price per sq ft
$145
People and jobs
Median household income
$55,547
Population change (1 year)
+0.4%
Unemployment rate
5.7%
Show 4 more
Population
37,842
Income adjusted for cost of living
$62,412
Net moves in (IRS)
−119
Cost of living (US = 100)
89.0
Schools, risk and environment
School rating (1 to 10)
7.6
FEMA hazard risk score (0 to 100)
24.3
Flood risk score
43.0
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Wildfire risk score
22.7
Walkability (1 to 20)
6.9
Road, rail and air noise
52 dB
Questions people ask
Is Houghton County, MI overvalued?
Home prices in Houghton County, MI are slightly above what local incomes have historically supported: fair value is about $180,521, so the area is 8.8% overvalued.
Is Houghton County, MI a buyer's or seller's market?
Houghton County, MI is a balanced market: homes take about 74 days to sell, listings are up 35% from a year ago, 20% of listings have had a price cut.
Are home prices going down in Houghton County, MI?
Home values in Houghton County, MI are up 7.6% over the last year.
How much do you need to earn to buy a home in Houghton County, MI?
A household needs about $42,593 a year to afford the typical home in Houghton County, MI at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $55,547.