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Escanaba, MI—49829

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$184,000
13.1% YoY Growth
Household Income
$45,800
17.0% YoY Growth
Days on Market
117
30.0% Shorter YoY
Home Price Forecast
2.6%
Median Rent
$975
10.2% YoY Growth
1-Bed Rent
$950
19.8% YoY Growth
2-Bed Rent
$1,200
6.9% YoY Growth
3-Bed Rent
$975
4.1% YoY Growth
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Escanaba, MI

As of May '26, the median home price in Escanaba, MI is $184,000, with a year-over-year change of 13.1%. This indicates that home prices in Escanaba, MI are increasing. According to Zillow, the 1-year price projection is 2.6%, suggesting an increase housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$184,00013.1%
Single Family $184,00012.2%
Condos N/AN/A

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed
  • Affordability
  • Rentals and Section 8
    • N/A
    N/A
    2 Bed
    		$138,00011.3%
    3 Bed
    		$185,00012.1%
    4 Bed
    		$213,0009.8%
    5 Bed N/AN/A
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    % of Housing Stock

    Studio
    1.1%
    1 Bedroom
    13.2%
    2 Bedrooms
    30.5%
    3 Bedrooms
    41.2%
    4 Bedrooms
    12.4%
    5+ Bedrooms
    1.6%

    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.

    TypeMedian RentAverage Rent
    Average Rent$975$1,080
    Studio Rent N/AN/A
    1 Bed Rent $950$975
    2 Bed Rent $1,200$1,090
    3 Bed Rent $975$1,160
    4 Bed Rent N/AN/A
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    % of Rental Stock

    Studio
    2.6%
    1 Bedroom
    33.3%
    2 Bedrooms
    45.5%
    3 Bedrooms
    16.8%
    4 Bedrooms
    1.5%
    5+ Bedrooms
    0.4%

    Property Listings — Escanaba, MI

    As of May '26, Realtor.com reports that the median days on market for a home in Escanaba, MI is 117. This is a decrease of -30.0% 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 29.0%, representing a large inventory and a lot of supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$290,000-42.0%
    Listing Count
    		411.0%
    Listings as % of Homes0.3%1.0%
    Days on Market
    		117-30.0%
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    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.

    MetricLatest CensusYoY % 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%
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    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

    MetricLatest Census5-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%
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    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

    MetricZip 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%
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    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 SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom-$240$950$710
    2 Bedroom-$270$1,200$930
    3 Bedroom$255$975$1,230
    4 BedroomN/AN/A$1,580

    Affordability — Escanaba, MI

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio2.9
    Median Home Price$184,000
    Median Household Income$45,800

    Escanaba, MI — ZIP Code Boundary Map

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    Nearby ZIP Codes

    Wells, MI

    49894

    Gladstone, MI

    49837

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    49807

    Indiantown, MI

    49896

    Campbell

    49872

    Frequently Asked Questions