Ontonagon County, Michigan Housing Market
In Ontonagon County, Michigan, the median home value is $111,700, with a median monthly rent of $540. This places Ontonagon County at #2773 nationally out of 3134 counties by median home value, and #81 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: $650
- Establishments: 165
- BLS QCEW, 2025
Housing Supply
- Single-family: 4
- Multi-family: 6
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 2,591 (avg $56,357)
- Outflow: 2,329 (avg $54,594)
- IRS Statistics of Income
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| Metric | Ontonagon County | Michigan Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $111,700 | $197,292 | $227,706 |
| Median Gross Rent | $540 | $905 | $968 |
| Owner Occupancy Rate | 87.1% | 80.2% | 73.3% |
| Price/Rent Ratio | 17.2 | 17.9 | 18.7 |
Market Analysis
The median home value in Ontonagon County is 43.4% below the Michigan state average and 50.9% below the U.S. national average. The median rent of $540/month is 40.3% below the state average.
With a price-to-rent ratio of 17.2, the buy-vs-rent decision in Ontonagon County is balanced. Whether buying or renting makes more sense depends on your time horizon, down payment capacity, and local market conditions.
Ontonagon County has an owner-occupancy rate of 87.1%, 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 |
|---|---|---|---|
| Lawrence County | Kentucky | $111,700 | $760 |
| New Madrid County | Missouri | $111,800 | $729 |
| Knox County | Illinois | $111,900 | $788 |
| Jackson County | Kentucky | $111,500 | $665 |
| Richland County | Illinois | $112,000 | $805 |
Other Counties in Michigan
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Luce County | $112,000 | $675 | 82.6% |
| Iron County | $109,100 | $716 | 84.5% |
| Gogebic County | $107,200 | $623 | 81.0% |
| Oscoda County | $125,500 | $681 | 87.2% |
| Clare County | $133,800 | $765 | 86.9% |
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).