Schoolcraft County, Michigan Housing Market
In Schoolcraft County, Michigan, the median home value is $141,800, with a median monthly rent of $705. This places Schoolcraft County at #2350 nationally out of 3134 counties by median home value, and #75 within Michigan.
📈 Price Trend (2017 → 2024)
📊 Recent Market Momentum (FHFA HPI)
FHFA House Price Index — All-Transactions, Annual (2000 = 100) · Latest: 2025
📍 Economic Snapshot
Employment & Wages
- Avg weekly wage: $888
- Establishments: 216
- BLS QCEW, 2025
Housing Supply
- Single-family: 12
- Multi-family: 0
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 3,576 (avg $63,036)
- Outflow: 3,331 (avg $61,763)
- IRS Statistics of Income
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💰 Mortgage Guide → 🧾 Property Tax Data →How Schoolcraft County Compares
| Metric | Schoolcraft County | Michigan Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $141,800 | $197,292 | $227,706 |
| Median Gross Rent | $705 | $905 | $968 |
| Owner Occupancy Rate | 86.6% | 80.2% | 73.3% |
| Price/Rent Ratio | 16.8 | 17.9 | 18.7 |
Market Analysis
The median home value in Schoolcraft County is 28.1% below the Michigan state average and 37.7% below the U.S. national average. The median rent of $705/month is 22.1% below the state average.
With a price-to-rent ratio of 16.8, the buy-vs-rent decision in Schoolcraft County is balanced. Whether buying or renting makes more sense depends on your time horizon, down payment capacity, and local market conditions.
Schoolcraft County has an owner-occupancy rate of 86.6%, 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 |
|---|---|---|---|
| Trumbull County | Ohio | $141,800 | $797 |
| Richland Parish | Louisiana | $141,900 | $903 |
| Elbert County | Georgia | $142,000 | $844 |
| Cherokee County | South Carolina | $142,000 | $869 |
| Alcorn County | Mississippi | $142,100 | $751 |
Other Counties in Michigan
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Iosco County | $142,200 | $719 | 82.1% |
| Baraga County | $138,100 | $616 | 78.5% |
| Gratiot County | $147,500 | $834 | 78.9% |
| Tuscola County | $149,500 | $819 | 86.4% |
| Lake County | $133,900 | $875 | 82.0% |
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).