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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Menominee, MI Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2024. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Menominee, MI Housing Market Trends

With 8,347 people, 3,841 houses or apartments, and a median cost of homes of $144,316, house prices in Menominee are some of the most affordable in Michigan as well as the nation.

Single-family detached homes are the single most common housing type in Menominee, accounting for 67.28% of the city's housing units. Other types of housing that are prevalent in Menominee include large apartment complexes or high rise apartments ( 13.60%), duplexes, homes converted to apartments or other small apartment buildings ( 12.01%), and a few mobile homes or trailers ( 5.02%).

Dwellings in Menominee tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 49.69% of the homes in Menominee have two or fewer bedrooms.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Menominee's housing was primarily built during this period, from the '40s through the '60s. A full 39.32% of the city's housing hails from this era. Other housing ages represented in Menominee include homes built before 1939 ( 31.65%) and housing constructed between 1970-1999 ( 26.87%). There's also some housing in Menominee built between 2000 and later ( 2.16%).

Vacant housing appears to be an issue in Menominee. Fully 10.74% of the housing stock is classified as vacant. Left unchecked, vacant Menominee homes and apartments can be a drag on the real estate market, holding Menominee real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Menominee Home Appreciation Rates

Real estate appreciation rates in Menominee's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.20% during the period.

Appreciation rates are so strong in Menominee that despite a nationwide downturn in the housing market, Menominee real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Menominee appreciation rates continue to be some of the highest in America, at 13.47%, which is higher than appreciation rates in 96.09% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Menominee. Menominee appreciation rates in the latest quarter were at 0.88%, which equates to an annual appreciation rate of 3.56%.

Relative to Michigan, our data show that Menominee's latest annual appreciation rate is higher than 90% of the other cities and towns in Michigan.

Average Home Values

Median Home Value

$144,316

Menominee, MI Home Prices
> $1,519,000
$1,139,001 - $1,519,000
$759,001 - $1,139,000
$608,001 - $759,000
$455,001 - $608,000
$304,001 - $455,000
$152,001 - $304,000
$76,001 - $152,000
$0 - $76,000
0.8%
0.8%
0.0%
0.0%
2.2%
2.2%
0.8%
0.8%
0.7%
0.7%
9.7%
9.7%
30.1%
30.1%
43.0%
43.0%
12.8%
12.8%
0% 100.0%
% of Homes
Very Low

for Michigan

Very Low

for nation

Number of Homes And Apartments:

3,841

Menominee Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,056 / per month

Homeownership Rate

Owners
Renters
67.1%
67.1%
32.9%
32.9%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
10.7%
10.7%
89.3%
89.3%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
2.2%
2.2%
26.9%
26.9%
39.3%
39.3%
31.7%
31.7%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
67.3%
67.3%
2.1%
2.1%
12.0%
12.0%
13.6%
13.6%
5.0%
5.0%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.2%
0.2%
14.1%
14.1%
35.4%
35.4%
34.5%
34.5%
12.2%
12.2%
3.6%
3.6%
0% 100.0%
% of Homes

Popular Neighborhoods in Menominee

Popular Communities Near Menominee, MI

Zip Codes in Menominee, MI