The story of this market
The typical home in ZIP 49950 sells for about $185,000, or $142 per square foot.
Prices are up +4.5% from a year ago, so sellers still have some momentum. Homes take about 118 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $720 a month.
ZIP 49950 — Eagle River
The Mohawk 49950 housing market is characterized by low inventory and slow turnover, typical of a remote, rural geography. Prices have seen steady appreciation driven by limited supply rather than high demand, with the market remaining stable as a seasonal and lifestyle-focused destination.
This ZIP is best suited for outdoor enthusiasts, retirees, and those seeking a quiet, rural lifestyle, as it lacks the employment density and amenities required by urban commuters or families seeking high-density services.
Median prices moved up 4.5% year over year.
Homes spend a median of 118 days on market with 9.2 months of supply — a slower-moving market.
12% of listings have cut prices · homes sell at 96.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 2.8% · poverty 18.5% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 7.7%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 5.2%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
in-migration and out-migration balanced
ZCTA 49950, Keweenaw County MI
ACS 2024 5-year estimates. Aggregate published statistics for this ZIP — never individual records, and never an attribute of any individual property or resident.
Crime rates in the Keweenaw Peninsula are generally low, with the area experiencing significantly less violent and property crime than the national average.
Schools serving the area are part of the Public Schools of Calumet, Laurium & Keweenaw, which are generally characterized as small, rural districts with limited extracurricular offerings but stable academic performance.
The area faces risks primarily from heavy winter snowfall and potential lake-effect weather events, with standard property insurance coverage typically available but sensitive to roof age and condition.
Economic momentum is modest and driven by tourism, seasonal recreation, and small-scale local services, with limited large-scale industrial or corporate development.
Property taxes are levied by Keweenaw County and local townships, with rates determined by millage proposals for schools, emergency services, and county operations; no state income tax credits apply to residential property.
Commutes are primarily car-dependent, with residents traveling to nearby hubs like Calumet or Houghton for employment, often involving rural highway driving.
The area is a hub for outdoor recreation, including access to Lake Superior, snowmobile trails, hiking in the Keweenaw Peninsula, and proximity to historic mining sites.
The rental market is limited and heavily influenced by seasonal demand and short-term vacation rentals, leading to low vacancy rates for long-term housing.
The local economy is heavily reliant on tourism, seasonal hospitality, and small-scale forestry or local government services.
Transportation is limited to private vehicle use on state highways; there is no public transit infrastructure.
There are no major commercial or residential developments currently approved or under construction in the 49950 ZIP code.
The Keweenaw County Equalization Department oversees property assessments, which are generally based on state-equalized values and capped by the Headlee Amendment.
Parcels are subject to local township millages and the Copper Country Intermediate School District.
Property insurance premiums are stable but reflect the high cost of winter-related claims and the remote nature of the geography.
Data retrieved from data.census.gov ZCTA 49950 profile.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
Provides extensive access to waterfront recreation and scenic views.
Extensive network of trails serving as a major regional winter attraction.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.