Houghton, MI 49931 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Houghton, MI—49931

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$255,000

6.6% YoY Growth

Household Income

$47,300

45.4% YoY Growth

Days on Market

27.0% Shorter YoY

Home Price Forecast

2.0%

Median Rent

$1,500

5.4% YoY Growth

1-Bed Rent

N/A

2-Bed Rent

$1,200

11.0% YoY Growth

3-Bed Rent

$1,600

1.1% YoY Growth

Home Price Trends — Houghton, MI

As of Nov '25, the median home price in Houghton, MI is $255,000, with a year-over-year change of 6.6%. This indicates that home prices in Houghton, MI are increasing. According to Zillow, the 1-year price projection is 2.0%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$255,000	6.6%
Single Family	$256,000	7.6%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

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

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% of Rental Stock

Studio

12.3%

1 Bedroom

24.9%

2 Bedrooms

37.0%

3 Bedrooms

13.8%

4 Bedrooms

12.0%

Property Listings — Houghton, MI

As of Nov '25, Realtor.com reports that the median days on market for a home in Houghton, MI is 80. This is a decrease of -27.0% 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 25.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$400,000	-19.0%
Listing Count	16	40.0%
Listings as % of Homes	0.2%	40.0%
Days on Market	80	-27.0%

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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%

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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%

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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%

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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

Houghton, MI—49931

Key Metrics at a Glance

Home Price Trends — Houghton, MI

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Houghton, MI

% of Rental Stock

Property Listings — Houghton, MI

Demographics — Houghton, MI

Race and Ethnicity

Mortgage and Risk — Houghton, MI

Mortgages

Rentals and Section 8 — Houghton, MI

Section 8 Market Size

Section 8 Opportunity

Affordability — Houghton, MI

Home Price to Income Ratio

Houghton, MI — ZIP Code Boundary Map

Nearby ZIP Codes

Dodgeville, MI

Hancock, MI

Trimountain

Dollar Bay

Atlantic Mine, MI

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	4.7
Median Home Price	$255,000
Median Household Income	$47,300

Houghton, MI—49931

Key Metrics at a Glance

Home Price Trends — Houghton, MI

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Houghton, MI

% of Rental Stock

Property Listings — Houghton, MI

Demographics — Houghton, MI

Race and Ethnicity

Mortgage and Risk — Houghton, MI

Mortgages

Rentals and Section 8 — Houghton, MI

Section 8 Market Size

Section 8 Opportunity

Affordability — Houghton, MI

Home Price to Income Ratio

Houghton, MI — ZIP Code Boundary Map

Nearby ZIP Codes

Dodgeville, MI

Hancock, MI

Trimountain

Dollar Bay

Atlantic Mine, MI

Frequently Asked Questions

What is the average home price in Houghton, MI 49931?

How have home prices in Houghton, MI 49931 changed over the past year?

What is the home price projection for Houghton, MI 49931?

What are the demographics of Houghton, MI 49931?

How long does it take homes to sell in Houghton, MI 49931?

What is the average rent price in Houghton, MI 49931?