Houghton, MI—49931
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Houghton, MI
As of Oct '25, the median home price in Houghton, MI is $259,000, with a year-over-year change of 6.1%. This indicates that home prices in Houghton, MI are increasing. According to Zillow, the 1-year price projection is 1.3%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $259,000 | 6.1% |
| Single Family | $259,000 | 6.6% |
| 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 — Houghton, MI
As of July '25, Rentcast reports the average rent in Houghton, MI is $1,570, with a year-over-year rent change of 5.4%. Per bedroom, the median rent as of July '25 in Houghton, MI is 2-bedrooms: $1,210, 3-bedrooms: $1,800, 4-bedrooms: $1,990. The most common rental property sizes in Houghton, MI are 2-bedroom and 1-bedroom, accounting for 37.0% and 24.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,500 | $1,570 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $1,200 | $1,210 |
| 3 Bed Rent | $1,600 | $1,800 |
| 4 Bed Rent | $1,990 | $1,990 |
% of Rental Stock
Property Listings — Houghton, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Houghton, MI is 48. This is a decrease of -14.0% 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 27.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $368,000 | -11.0% |
Listing Count | 22 | 25.0% |
| Listings as % of Homes | 0.2% | 25.0% |
Days on Market | 48 | -14.0% |
Demographics — Houghton, MI
As of the latest ACS Survey released in 2023, Houghton, MI has a population of 10,200, which has increased by 6.1% over the past 5 years. Houghton, MI is a less popular place for families, as children make up 12.5% of the population. The area has a highly educated workforce, with 60.3% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 10,200 | 6.1% |
% Under 18 | 12.5% | 8.7% |
% Seniors | 10.7% | 1.9% |
% WFH | 9.0% | 150.0% |
% w/ College Degree | 60.3% | 16.0% |
As of the latest ACS Survey released in 2023, Houghton, MI is a predominantly white area, with 81.5% of the population identifying as white. The white population has shrunk by 2.3% in the last 5 years. The second most common race or ethnicity in Houghton, MI is asian, making up 7.4% of the population. Foreign-born residents account for 12.6% of the population in Houghton, MI, and this percentage has increased by 11.5% 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 | 81.5% | -2.3% |
% Black | 2.4% | 14.3% |
% Hispanic | 3.1% | 63.2% |
% Asian | 7.4% | -19.6% |
% Foreign Born | 12.6% | 11.5% |
Mortgage and Risk — Houghton, MI
According to HUD data as of 2023, there were 66 mortgage originations in Houghton, MI, of which 88.0% of loans were conventional mortgages. The average loan-to-value was 76.0%, with 32.0% above 90% LTV (very high). This implies large mortgage risk in Houghton, MI. Investor activity is low, as 6.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 66 |
% Conventional Loans | 88.0% |
% Government Loans | 12.0% |
% Investor Loans | 6.0% |
% Second Loans | 5.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Houghton, MI
Houghton, MI lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 255 |
Total Units Section 8 | 185 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 93.9% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $850 |
| 2 Bedroom | -$180 | $1,200 | $1,020 |
| 3 Bedroom | -$170 | $1,600 | $1,430 |
| 4 Bedroom | -$280 | $1,990 | $1,710 |
Affordability — Houghton, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.8 |
| Median Home Price | $259,000 |
| Median Household Income | $47,300 |