Ishpeming, MI housing market
The typical Ishpeming home is worth about $202,000, up 8.5% in a year, 24% below the Michigan typical home.
Home values, sales, trends and how Ishpeming compares with the towns next door — updated as new data is published.
Ishpeming at a glance
Typical home value, 2016–2026
Show as a table
| January | Ishpeming | Michigan |
|---|---|---|
| 2017 | $99,000 | $144,000 |
| 2018 | $102,000 | $155,000 |
| 2019 | $107,000 | $165,000 |
| 2020 | $113,000 | $175,000 |
| 2021 | $124,000 | $194,000 |
| 2022 | $142,000 | $217,000 |
| 2023 | $158,000 | $230,000 |
| 2024 | $166,000 | $241,000 |
| 2025 | $176,000 | $253,000 |
| 2026 | $191,000 | $262,000 |
| August 2026 | $202,000 | $266,000 |
No new homes permitted in 2007
No permits for new homes were issued in Ishpeming in 2007. The last year with any was 2006 (2 new homes).
Show as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2007 | 0 | 0 | 0 | — |
| 2006 | 2 | 2 | 0 | $330,000 |
| 2005 | 11 | 11 | 0 | $2.1 million |
| 2004 | 16 | 16 | 0 | $2 million |
| 2003 | 11 | 11 | 0 | $1.1 million |
| 2002 | 13 | 13 | 0 | $1.3 million |
| 2001 | 16 | 16 | 0 | $1.6 million |
| 2000 | 17 | 17 | 0 | $1.6 million |
Ishpeming's permit office didn't report to the Census in 2007, so the 2007 figures are Census estimates.
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey.
Ishpeming and its neighbors
| Town | Typical value | 1-yr change | 2-bed rent | New homes 2007 | Median income |
|---|---|---|---|---|---|
| Ishpeming | $202K | +8.5% | $1,010 | 0 | $94,271 |
| Champion | $206K | +9.4% | $1,000 | — | $56,250 |
| Ishpeming | — | +11.3%† | $970 | — | $52,754 |
| Negaunee | $243K | +6.8% | $980 | — | $97,955 |
| Ely | — | +11.8%† | $980 | — | $100,104 |
| Marquette | $343K | +9.4% | $1,220 | — | $57,983 |
| Tilden | — | +6.2%† | $970 | — | $67,596 |
† FHFA price index change, where Zillow has no home value for the town.
2.1 years of income
The typical Ishpeming home costs about 2.1 years of the town's median household income, less than across Michigan (3.7 years).
How Ishpeming ranks on affordability →
Home value ÷ ACS median household income.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024.
A two-bedroom rents for about $1,010
HUD's Fair Market Rent for a two-bedroom in Ishpeming is $1,010 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in Ishpeming pay a median of $797, so moving in tends to cost more than staying put. A two-bedroom takes about 13% of the town's median household income.
Studio $700 · 4 bedrooms $1,560
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (49849, 49855, 49866; Marquette 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. New homes: U.S. Census Bureau, Building Permits Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers.