Escanaba, MI—49829
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Escanaba, MI
As of Oct '25, the median home price in Escanaba, MI is $172,000, with a year-over-year change of 11.6%. This indicates that home prices in Escanaba, MI are increasing. According to Zillow, the 1-year price projection is 3.6%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $172,000 | 11.6% |
| Single Family | $172,000 | 11.7% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $132,000 | 12.8% |
3 Bed | $175,000 | 12.2% |
4 Bed | $202,000 | 9.2% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Escanaba, MI
As of July '25, Rentcast reports the average rent in Escanaba, MI is $1,080, with a year-over-year rent change of 10.2%. Per bedroom, the median rent as of July '25 in Escanaba, MI is 1-bedrooms: $975, 2-bedrooms: $1,090, 3-bedrooms: $1,160. The most common rental property sizes in Escanaba, MI are 2-bedroom and 1-bedroom, accounting for 45.5% and 33.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $975 | $1,080 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $950 | $975 |
| 2 Bed Rent | $1,200 | $1,090 |
| 3 Bed Rent | $975 | $1,160 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Escanaba, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Escanaba, MI is 51. This is a decrease of -8.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 12.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $370,000 | 36.0% |
Listing Count | 50 | 42.0% |
| Listings as % of Homes | 0.3% | 42.0% |
Days on Market | 51 | -8.0% |
Demographics — Escanaba, MI
As of the latest ACS Survey released in 2023, Escanaba, MI has a population of 16,900, which has remained stable by -0.5% over the past 5 years. Escanaba, MI is a moderately popular place for families, as children make up 20.1% of the population. The area has a poorly educated workforce, with 18.5% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 4.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 16,900 | -0.5% |
% Under 18 | 20.1% | 4.1% |
% Seniors | 24.3% | 7.0% |
% WFH | 4.5% | 32.4% |
% w/ College Degree | 18.5% | -14.7% |
As of the latest ACS Survey released in 2023, Escanaba, MI is a predominantly white area, with 88.0% of the population identifying as white. The white population has shrunk by 5.3% in the last 5 years. The second most common race or ethnicity in Escanaba, MI is hispanic, making up 2.3% of the population. Foreign-born residents account for 0.7% of the population in Escanaba, MI, and this percentage has decreased by 46.2% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 88.0% | -5.3% |
% Black | 0.3% | -50.0% |
% Hispanic | 2.3% | 130.0% |
% Asian | 0.3% | -50.0% |
% Foreign Born | 0.7% | -46.2% |
Mortgage and Risk — Escanaba, MI
According to HUD data as of 2023, there were 58 mortgage originations in Escanaba, MI, of which 53.0% of loans were conventional mortgages. The average loan-to-value was 80.0%, with 45.0% above 90% LTV (very high). This implies large mortgage risk in Escanaba, MI. Investor activity is low, as 0.0% of loans were by investors. 21.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 58 |
% Conventional Loans | 53.0% |
% Government Loans | 47.0% |
% Investor Loans | 0.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 21.0% |
Loan Activity
Rentals and Section 8 — Escanaba, MI
Escanaba, MI lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 589 |
Total Units Section 8 | 415 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 93.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$240 | $950 | $710 |
| 2 Bedroom | -$270 | $1,200 | $930 |
| 3 Bedroom | $255 | $975 | $1,230 |
| 4 Bedroom | N/A | N/A | $1,580 |
Affordability — Escanaba, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.8 |
| Median Home Price | $172,000 |
| Median Household Income | $45,800 |