Laurium, MI—49913
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Laurium, MI
As of Oct '25, the median home price in Laurium, MI is $123,000, with a year-over-year change of -1.0%. This indicates that home prices in Laurium, MI are flat. According to Zillow, the 1-year price projection is 0.8%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $123,000 | -1.0% |
| Single Family | $123,000 | -1.6% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | N/A | N/A |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Laurium, MI
As of July '25, Rentcast reports the average rent in Laurium, MI is $619, with a year-over-year rent change of -3.6%. Per bedroom, the median rent as of July '25 in Laurium, MI is 1-bedrooms: $619. The most common rental property sizes in Laurium, MI are 2-bedroom and 1-bedroom, accounting for 41.9% and 28.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $614 | $619 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $614 | $619 |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Laurium, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Laurium, MI is 51. This is a increase of 20.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 24.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $176,000 | -1.0% |
Listing Count | 34 | -8.0% |
| Listings as % of Homes | 0.2% | -8.0% |
Days on Market | 51 | 20.0% |
Demographics — Laurium, MI
As of the latest ACS Survey released in 2023, Laurium, MI has a population of 7,480, which has increased by 11.0% over the past 5 years. Laurium, MI is a moderately popular place for families, as children make up 24.7% of the population. The area has a poorly educated workforce, with 24.7% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 7,480 | 11.0% |
% Under 18 | 24.7% | 21.1% |
% Seniors | 19.3% | -8.1% |
% WFH | 8.4% | -16.0% |
% w/ College Degree | 24.7% | 6.0% |
As of the latest ACS Survey released in 2023, Laurium, MI is a predominantly white area, with 93.6% of the population identifying as white. The white population has grown by 0.3% in the last 5 years. The second most common race or ethnicity in Laurium, MI is asian, making up 1.6% of the population. Foreign-born residents account for 2.6% of the population in Laurium, MI, and this percentage has increased by 333.3% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 93.6% | 0.3% |
% Black | 0.7% | 75.0% |
% Hispanic | 1.5% | -6.2% |
% Asian | 1.6% | 1,500.0% |
% Foreign Born | 2.6% | 333.3% |
Mortgage and Risk — Laurium, MI
According to HUD data as of 2023, there were 63 mortgage originations in Laurium, MI, of which 75.0% of loans were conventional mortgages. The average loan-to-value was 73.0%, with 32.0% above 90% LTV (very high). This implies large mortgage risk in Laurium, MI. Investor activity is low, as 3.0% 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 | 63 |
% Conventional Loans | 75.0% |
% Government Loans | 25.0% |
% Investor Loans | 3.0% |
% Second Loans | 3.0% |
% Cash Out Refinance | 21.0% |
Loan Activity
Rentals and Section 8 — Laurium, MI
Laurium, MI lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 182 |
Total Units Section 8 | 55 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 94.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $166 | $614 | $780 |
| 2 Bedroom | N/A | N/A | $930 |
| 3 Bedroom | N/A | N/A | $1,310 |
| 4 Bedroom | N/A | N/A | $1,570 |
Affordability — Laurium, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.5 |
| Median Home Price | $123,000 |
| Median Household Income | $50,500 |