The housing market in Houghton, MI Metro Area has remained relatively stable despite the US house median value being almost three times higher. The median value of housing in the Houghton, MI Metro Area is currently $127,700, while the US house median value is at $338,100. Although the one-year appreciation rate of houses in the United States is 8.27%, the one-year appreciation rate of houses in Houghton, MI Metro Area is slightly lower at 6.72%. Despite this difference, it appears that the stability of housing prices and steady appreciation rate make Houghton an attractive place to invest in real estate in comparison to other markets across the country.
The median home cost in Houghton Metro Area is $127,700. Home appreciation the last 10 years has been 97.3%. Home Appreciation in Houghton Metro Area is up 18.2%.
Average Age of Homes
- The median age of Houghton Metro Area real estate is 63 years old
The Rental Market in Houghton Metro Area
- Renters make up 21.0% of the Houghton Metro Area population
- 1.5% of houses and apartments in Houghton Metro Area, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.