The story of this market
The typical home in Keweenaw County, Michigan sells for about $179,000, or $240 per square foot.
Prices are down 31% from a year ago, which gives buyers more room to negotiate. Homes take about 115 days to sell, which is slow. Over the long run, values in this county have grown 69% since 2003. HUD's fair market rent for a two-bedroom is $1,014 a month.
HUD sets the fair market rent for a 2-bedroom at $1,014 a month. FEMA's National Risk Index rates overall hazard risk here as Very Low.
Price climate
Every year of price change, 2003–2025
0%
2025
Each stripe is one year's median price change across the area's census tracts (FHFA repeat-sales index). Deep blue is a strong gain year, red a falling year. Best: 2022 (+24.7%). Worst: 2018 (-9.1%). Hover to read a year.
Monthly price momentum
Home values since 2015
+4.5%
MI · past 12 months
Freddie Mac House Price Index, single-family homes, monthly through 2026-08. Each line starts at 100 in January 2015, so a reading of 180 means prices are up 80% since then.
Rent benchmark
Fair market rent by size
$1,283
3-bed / month
HUD Fair Market Rents, fiscal 2027, for this county. A typical rent for a modest unit, used to set housing-voucher payments.
Neighborhood price trend
Long-run price trend, 2003–2025
0%
2025 change
FHFA repeat-sales index, median of 1 census tracts in this county (2003 = 100). Bars are each year's median change.
Natural hazard exposure
The area's risk shape
14
Very Low
FEMA National Risk Index. Each spoke is a hazard ranked nationally, where 100 is the most exposed. Expected annual loss: $609,298.
Mortgage activity
Home lending in this county
80%
2018 approval rate
| Year | Applications | Loans made | Approval | Investor share | Median home value |
|---|---|---|---|---|---|
| 2018 | 62 | 34 | 80% | 12.5% | $175,000 |
CFPB Home Mortgage Disclosure Act records: every mortgage application reported by lenders for homes in this county. Approval rate is approved ÷ decided (withdrawn and incomplete files excluded). Investor share and home value are the median census tract.
Keweenaw County, Michigan
Keweenaw County's housing market is experiencing a significant correction with median prices declining year-over-year. High vacancy rates and a reliance on seasonal tourism contribute to a slow-moving market with limited inventory.
No ARED distress-ledger coverage for this county yet — the foreclosure ingest rotates the national county directory, and filings appear here once the county's posted notices are read. Key-figure check: median price corroborated by the published ten-year series (2025) (within 12.5%).
Select a city to expand its ZIP intel reports beneath · 5 cities · 5 ZIP reports
Median prices moved up 0.1% year over year.
Homes spend a median of 2 days on market with 0.2 months of supply — a fast-moving market.
0% of listings have cut prices · homes sell at 1.74% of asking — demand is holding steady.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 5.2% · poverty 11.2% — a stable, low-distress profile.
Deterministic aggregate of 2 researched ZIP reports — sales_count-weighted (population fallback); per point, children lacking the value or its weight are excluded. Tax rates, sentiment and context notes are tier-native and never roll.
Keweenaw County, Michigan — researched county-level history with a deterministic 1 / 3 / 5-year projection
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 7.9%/yr trend — a deterministic estimate, not a published forecast or guarantee.
No researched properties in this county yet — the property base layer populates as property research runs, and each property feeds its ZIP's roll-up.
researched Sep 22
researched Sep 22
researched Sep 22
| 49918 | Copper Harbor | — | — | 0% | — | — | — | — | — | — | researched Sep 22 |
| 49950 | Eagle River | $185,000 | $142 | +4.5% | 118 | 96.5% | 12% | 9.2 | 42 | $720 | researched Sep 22 |
| 49968 | Wakefield | $149,900 | $112 | +3.4% | 128 | 96.5% | 12% | 8.2 | 42 | $656 | researched Sep 22 |
Figures are each ZIP report's own latest research — the county roll-up aggregates them sales_count-weighted (population fallback); ZIPs cycle quarterly.
Public education is provided primarily through the Public Schools of Calumet, Laurium & Keweenaw, serving the region with small-town educational settings.
The county faces seasonal risks from heavy lake-effect snow and winter storms, with property insurance premiums reflecting these environmental exposures.
The economy is driven by tourism, forestry, and seasonal recreation, with limited large-scale industrial development or corporate infrastructure.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (Michigan) — Disabled Veterans Homestead Exemption: Provides an exemption from property taxes levied for school operating purposes and potentially other local taxes depending on eligibility. State (Michigan) — General Property Tax Act: Property is assessed at 50% of true cash value (State Equalized Value). Taxable value is capped at the lesser of the state equalized value or the previous year's taxable value adjusted by the consumer price index (up to 5%), unless a transfer of ownership occurs.
The county is a premier destination for outdoor recreation, featuring extensive snowmobile trails, access to Lake Superior, and the historic Keweenaw National Historical Park.
The rental market is characterized by limited inventory and a high share of seasonal or short-term vacation rentals due to the tourism-heavy economy.
The economy is anchored by tourism, seasonal hospitality, and natural resource management, with minimal large-scale corporate employment.
Transportation is primarily via M-26 and US-41, which serve as the main corridors connecting the remote peninsula to the rest of the Upper Peninsula.
The Keweenaw County Equalization Department oversees the assessment of property values for tax purposes in accordance with Michigan state law.
The county is served by the Copper Country Intermediate School District, which provides specialized educational support services.
Property insurance markets are stable but sensitive to the high costs associated with winter weather damage and remote location logistics.
The amenity base that shapes daily life and property demand in this county — what residents actually live with, and what the pipeline is adding.
Preserves the history of the region's copper mining industry and offers educational tours.
Provides extensive public access for boating, fishing, and scenic views.
A major regional attraction known for extreme backcountry skiing and winter sports.
Data retrieved from Census Reporter profiles for Keweenaw County.
applies when — Real property owned and used as a homestead by a disabled veteran or their surviving spouse.
Provides an exemption from property taxes levied for school operating purposes and potentially other local taxes depending on eligibility.
MCL 211.7b
applies when — Transfer of interest in real estate consisting of not less than 1 or more than 4 residential dwelling units.
Sellers must provide a written disclosure statement to prospective buyers regarding the condition of the property, including known defects.
Seller Disclosure Act, Act 92 of 1993
applies when — Delinquency in real property tax payments.
A three-year forfeiture and foreclosure process. Property is forfeited to the county treasurer after two years of delinquency. If taxes remain unpaid by March 31 of the third year, the property is foreclosed upon by the Foreclosing Governmental Unit.
General Property Tax Act, Public Act 206 of 1893; MCL 211.78k
Property is assessed at 50% of true cash value (State Equalized Value). Taxable value is capped at the lesser of the state equalized value or the previous year's taxable value adjusted by the consumer price index (up to 5%), unless a transfer of ownership occurs. The tax is calculated by multiplying the taxable value by the local millage rate.
General Property Tax Act, Public Act 206 of 1893
Governance registry — every jurisdiction re-researches on a rolling 90-day cycle. Property reports compose these inherited burdens into a per-parcel ledger with conditional determinations. Informational only — not legal advice.