Keweenaw County, Michigan Housing Market
In Keweenaw County, Michigan, the median home value is $169,800, with a median monthly rent of $688. This places Keweenaw County at #1810 nationally out of 3134 counties by median home value, and #50 within Michigan.
📈 Price Trend (2017 → 2024)
ℹ️ FHFA HPI data is not available for this county due to limited mortgage transaction volume.
📍 Economic Snapshot
Employment & Wages
- Avg weekly wage: $719
- Establishments: 73
- BLS QCEW, 2025
Housing Supply
- Single-family: 6
- Multi-family: 0
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 916 (avg $71,126)
- Outflow: 903 (avg $70,664)
- IRS Statistics of Income
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| Metric | Keweenaw County | Michigan Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $169,800 | $197,292 | $227,706 |
| Median Gross Rent | $688 | $905 | $968 |
| Owner Occupancy Rate | 90.7% | 80.2% | 73.3% |
| Price/Rent Ratio | 20.6 | 17.9 | 18.7 |
Market Analysis
The median home value in Keweenaw County is 13.9% below the Michigan state average and 25.4% below the U.S. national average. The median rent of $688/month is 24.0% below the state average.
With a price-to-rent ratio of 20.6, renting is generally more cost-effective than buying in the short to medium term. The market favors buyers only for long-term holds.
Keweenaw County has an owner-occupancy rate of 90.7%, compared to 80.2% in Michigan and 73.3% nationally. This indicates a more homeowner-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Garfield County | Montana | $169,900 | $725 |
| Clark County | Ohio | $169,900 | $872 |
| Polk County | Tennessee | $169,900 | $676 |
| Wayne County | New York | $170,000 | $938 |
| Slope County | North Dakota | $170,000 | $525 |
Other Counties in Michigan
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Isabella County | $170,400 | $913 | 61.8% |
| Wexford County | $170,400 | $897 | 80.9% |
| Missaukee County | $170,400 | $891 | 84.9% |
| Sanilac County | $168,300 | $807 | 82.6% |
| Shiawassee County | $171,600 | $899 | 80.1% |
Data Source: U.S. Census Bureau, American Community Survey (ACS) 2024 5-Year Estimates (2017–2024). Variables: B25077 (Median Home Value), B25064 (Median Gross Rent), B25003 (Tenure). Data collected on 2026-10-14. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).