Zip 49861 (Michigamme, MI) Housing

The housing market in 49861 Michigamme, MI is showing positive signs of growth. The median value for a house in this area is $190,000, lower than the US median value of $338,100. However, the 1 year appreciation rate in 49861 Michigamme, MI is 12.90%, significantly higher than the US average of 8.27%. This indicates that housing prices are increasing at a faster pace than the national average, and suggests that those looking to buy real estate in this area should do so soon to take advantage of these prices before they go up too much further.

The median home cost in Michigamme (zip 49861) is $190,000. Home appreciation the last 10 years has been 71.4%. Home Appreciation in Michigamme (zip 49861) is up 23.1%.

Average Age of Homes

- The median age of Michigamme (zip 49861) real estate is 50 years old

The Rental Market in Michigamme (zip 49861)

- Renters make up 1.4% of the Michigamme (zip 49861) population
- 0.0% of houses and apartments in Michigamme (zip 49861), 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.

Median Monthly Rent by Number of Bedrooms

Housing by Year Built

Housing	Michigamme, Michigan	United States
	660.0	139,647,020.0
	50	42
	$190,000	$338,100
	23.1%	16.6%
	60.1%	57.0%
	71.4%	101.1%
	$9.29	$10.98
	$1,782	$2,690
	32.3%	57.4%
	66.1%	11.2%
	1.7%	31.4%
Vacant Housing
	0.0%	1.9%
	0.0%	0.4%
	1.4%	0.7%
	0.0%	0.4%
	59.1%	3.6%
	5.6%	4.1%
Value of Owner-Occupied Housing
	6.1%	2.6%
	0.9%	2.4%
	4.2%	2.8%
	8.0%	3.9%
	6.1%	4.5%
	11.7%	11.3%
	15.5%	13.0%
	30.5%	20.1%
	7.0%	13.6%
	2.8%	8.3%
	6.6%	9.7%
	0.5%	3.9%
	0.0%	2.2%
	0.0%	0.8%
	0.0%	1.1%
Housing Units by Year Structure Built
	0.0%	0.2%
	7.3%	13.6%
	7.3%	13.6%
	16.8%	13.6%
	7.9%	13.2%
	18.3%	14.8%
	16.8%	13.6%
	13.6%	10.0%
	7.3%	4.7%
	12.3%	12.2%

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