A typical Erwin home is worth roughly $185,000
Home prices around Erwin have risen about 86% over the past 5 years. No new homes were permitted in 2025.
What kind of housing town is Erwin?
Read from the numbers below. The page puts what stands out first.
Home prices up 86% in 5 years
The federal house price index for the ZIP code around Erwin rose 86% over the past 5 years, faster than across Michigan (52%). Last year prices rose 7%.
Federal Housing Finance Agency House Price Index (annual) for the ZIP codes around Erwin, weighted by land area. It tracks repeat sales of the same homes, so it shows how prices changed, not what homes cost.
What it takes to buy in Erwin
Try your own numbers below.
That covers a typical Erwin home, with $86K to spare.
A two-bedroom rents for about $970 a month here, $190 less than owning.
An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, the Michigan typical property tax (1.25% of value a year, from the Census) and insurance of about 0.35%. Mortgage insurance, HOA fees and other debts aren’t included.
95% of Erwin households own their home
Half of Erwin’s homes were built before 1956.
Michigan: 73% own.
U.S. Census Bureau, American Community Survey 2020-2024 · figures for a place this size carry wide margins of error.
A two-bedroom rents for about $970
Renters already here pay a median of $850, so moving in tends to cost more than staying put.
Fair Market Rent a month, utilities included
U.S. Department of Housing and Urban Development, Fair Market Rents by ZIP code (Gogebic County, MI): the 40th-percentile rent plus utilities for a standard unit. Median rent and renters: U.S. Census Bureau, American Community Survey.
No new homes permitted in 2025
No permits for new homes were issued in Erwin in 2025. The last year with any was 2024 (3 new homes).
Between the 2010 and 2020 censuses, Erwin's population fell by 59 even though 4 new homes were permitted. Homes are holding fewer people: households are getting smaller, or more homes are used part of the year. 25% of Erwin's homes are seasonal or vacation homes, which adds housing without adding residents. Across Michigan: 1.2 new residents per new home.
Every year as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2026 (Jan–Aug) | 2 | 2 | 0 | $833,000 |
| 2025 | 0 | 0 | 0 | — |
| 2024 | 3 | 3 | 0 | $1.3 million |
| 2023 | 1 | 1 | 0 | $212,000 |
| 2022 | 4 | 4 | 0 | $1 million |
| 2021 | 2 | 2 | 0 | $320,000 |
| 2020 | 3 | 3 | 0 | $631,000 |
| 2019 | 3 | 3 | 0 | $254,000 |
| 2018 | 0 | 0 | 0 | — |
| 2017 | 1 | 1 | 0 | $160,000 |
| 2016 | 0 | 0 | 0 | — |
| 2015 | 0 | 0 | 0 | — |
| 2014 | 0 | 0 | 0 | — |
| 2013 | 0 | 0 | 0 | — |
| 2012 | 0 | 0 | 0 | — |
| 2011 | 0 | 0 | 0 | — |
| 2010 | 0 | 0 | 0 | — |
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey.
Erwin vs. its neighbors
Erwin is the priciest of 3 neighboring towns. Tap one to see its housing page.
Compare more
Typical value: Zillow Home Value Index; * Census median home value where Zillow has none. † FHFA price index change where Zillow has none. Rent: HUD Fair Market Rent. New homes: Census building permits.
Neighbors talk housing
What Erwin buyers, sellers and renters are saying.
Your answer becomes a post in Town Square.
Home values: Zillow Home Value Index (ZHVI), Zillow Research. Sales, days on market and supply: Redfin Data Center. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits Survey. Price trend: Federal Housing Finance Agency House Price Index. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers. The calculator is an estimate, not a loan offer.