Indian River, MI housing market
The typical Indian River home is worth about $320,000, up 5.2% in a year, 20% above the Michigan typical home.
Home values, sales, trends and how Indian River compares with the towns next door — updated as new data is published.
Indian River at a glance
Typical home value, 2016–2026
Show as a table
| January | Indian River | Michigan |
|---|---|---|
| 2017 | $169,000 | $144,000 |
| 2018 | $185,000 | $155,000 |
| 2019 | $185,000 | $165,000 |
| 2020 | $198,000 | $175,000 |
| 2021 | $218,000 | $194,000 |
| 2022 | $268,000 | $217,000 |
| 2023 | $282,000 | $230,000 |
| 2024 | $296,000 | $241,000 |
| 2025 | $311,000 | $253,000 |
| 2026 | $312,000 | $262,000 |
| August 2026 | $320,000 | $266,000 |
Indian River and its neighbors
| Town | Typical value | 1-yr change | 2-bed rent | Median income |
|---|---|---|---|---|
| Indian River | $320K | +5.2% | $1,030 | $62,140 |
| Tuscarora | — | +12.1%† | $1,030 | $66,042 |
| Koehler | — | +11.7%† | $1,010 | $61,859 |
| Burt | $213K | +4.4% | $1,110 | $77,188 |
| Ellis | — | +10.2%† | $980 | $76,563 |
| Mentor | — | +10.3%† | $1,010 | $60,208 |
| Mullett | — | +8.2%† | $1,060 | $82,500 |
† FHFA price index change, where Zillow has no home value for the town.
5.1 years of income
The typical Indian River home costs about 5.1 years of the town's median household income, more than across Michigan (3.7 years).
Home value ÷ ACS median household income.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024.
A two-bedroom rents for about $1,030
HUD's Fair Market Rent for a two-bedroom in Indian River is $1,030 a month, utilities included: roughly what a modest, recently rented unit costs. A two-bedroom takes about 20% of the town's median household income.
Studio $730 · 4 bedrooms $1,370
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (49749; Cheboygan County, MI), weighted by land area. A Fair Market Rent is the 40th-percentile rent plus utilities for a standard unit. Median rent: U.S. Census Bureau, American Community Survey.
Home values: Zillow Home Value Index (ZHVI), Zillow Research, August 2026. Sales, days on market and supply: Redfin Data Center. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers.