Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$139,950+8.0% YoY · prices are rising fast
Market right nowBalanced marketMore homes for sale than last year, 16% have cut their price
Income needed to buy, per year$30,338About 0.5× the local median income ($56,009): affordable for a typical household
Days on market85 daysAbout the same pace as a year ago
The typical home in Luce County, MI is worth $139,950, up 8.0% from a year ago. That is well below what local incomes have historically supported: fair value is about $156,544, so the area is 10.6% undervalued. It is a balanced market: homes take about 85 days to sell, listings are up 81% from a year ago, 16% of listings have had a price cut. A household needs about $30,338 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 $56,009. In the latest IRS figures, 14 more people moved in than out.
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
$139,950
Change in 1 year
+8.0%
Overvalued %
−10.6%
Show 6 more
Fair home value
$156,544
Change in 5 years
+2.6%
Home value to income
2.5×
Monthly mortgage payment (20% down)
$758
Income needed to afford it
$30,338
Property tax rate
0.98%
Rent and investing
HUD Fair Market Rent, 2 bedrooms
$1,014
Market activity
Listings vs a year ago
+80.6%
Days on market
85
Listings with a price cut
15.6%
Show 3 more
Homes for sale
56
Pending sales per 100 listings
25
Asking price per sq ft
$144
People and jobs
Median household income
$56,009
Population change (1 year)
−0.5%
Unemployment rate
9.9%
Show 4 more
Population
6,339
Income adjusted for cost of living
$62,931
Net moves in (IRS)
+14
Cost of living (US = 100)
89.0
Schools, risk and environment
School rating (1 to 10)
4.0
FEMA hazard risk score (0 to 100)
2.6
Flood risk score
15.5
Show 3 more
Wildfire risk score
45.4
Walkability (1 to 20)
6.7
Road, rail and air noise
54 dB
Questions people ask
Is Luce County, MI overvalued?
Home prices in Luce County, MI are well below what local incomes have historically supported: fair value is about $156,544, so the area is 10.6% undervalued.
Is Luce County, MI a buyer's or seller's market?
Luce County, MI is a balanced market: homes take about 85 days to sell, listings are up 81% from a year ago, 16% of listings have had a price cut.
Are home prices going down in Luce County, MI?
Home values in Luce County, MI are up 8.0% over the last year.
How much do you need to earn to buy a home in Luce County, MI?
A household needs about $30,338 a year to afford the typical home in Luce County, MI at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $56,009.