Portage, MI housing market
Home prices around Portage have risen about 81% over the past 5 years.
Home values, sales, trends and how Portage compares with the towns next door — updated as new data is published.
Home prices up 81% in 5 years
The federal house price index for the ZIP codes around Portage rose 81% over the past 5 years, faster than across Michigan (52%). Last year prices fell 1.1%. Carrying the Census median home value forward with that index puts the typical Portage home at roughly $385,000 today.
Show as a table
| Year | Change that year | Since 2001 | Michigan since 2001 |
|---|---|---|---|
| 2025 | −1% | +156% | +87% |
| 2024 | +29% | +158% | +79% |
| 2023 | +6.9% | +101% | +68% |
| 2022 | +22% | +88% | +56% |
| 2021 | +9.5% | +54% | +38% |
| 2020 | +0.8% | +41% | +24% |
| 2019 | +3.1% | +40% | +20% |
| 2018 | +4.3% | +36% | +14% |
| 2017 | +4.1% | +30% | +7.1% |
| 2016 | −1.1% | +25% | +0.3% |
| 2015 | −0.6% | +27% | −4.8% |
| 2014 | +3.7% | +27% | −9.3% |
| 2013 | −0.3% | +23% | −16% |
| 2012 | −1.8% | +23% | −20% |
| 2011 | +1.7% | +25% | −20% |
| 2010 | −1.4% | +23% | −17% |
| 2009 | +2.3% | +25% | −9.5% |
| 2008 | −2.5% | +22% | −1.5% |
| 2007 | +1.2% | +25% | +5.9% |
| 2006 | +5.9% | +24% | +11% |
| 2005 | +8.1% | +17% | +12% |
| 2004 | +5.3% | +8.2% | +8.5% |
| 2003 | +3.4% | +2.8% | +5.1% |
| 2002 | −0.5% | −0.5% | +3.1% |
| 2001 | — | — | — |
Federal Housing Finance Agency House Price Index (annual, developmental) for ZIP codes 49916, 49958, 49931, 49905, covering 66% of Portage’s land, weighted by land area. It tracks repeat sales and appraisals of the same homes, so it shows how prices changed, not what homes cost. The estimated value scales the Census (ACS 2020-2024) median home value by that change.
Portage and its neighbors
| Town | Typical value | 1-yr change | 2-bed rent | New homes 2025 | Median income |
|---|---|---|---|---|---|
| Portage | — | −1.1%† | $1,020 | — | $66,652 |
| Houghton | $279K | +8.7% | $1,120 | — | $43,456 |
| Adams | — | +0.4%† | $1,060 | — | $63,914 |
| Chassell | — | −2.4%† | $1,000 | — | $75,729 |
| Hancock | — | +4.6%† | $970 | — | $59,519 |
| Baraga | $173K | +12.3% | $1,000 | 0 | $52,254 |
| Franklin | — | +2.9%† | $970 | — | $78,155 |
† FHFA price index change, where Zillow has no home value for the town.
3.1 years of income
The typical Portage home costs about 3.1 years of the town's median household income, less than across Michigan (3.7 years).
How Portage 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 $1,020
HUD's Fair Market Rent for a two-bedroom in Portage is $1,020 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in Portage pay a median of $778, so moving in tends to cost more than staying put. A two-bedroom takes about 18% of the town's median household income.
Studio $810 · 4 bedrooms $1,630
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (49905, 49916, 49931, 49958; Houghton 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.
Recent listings in Portage
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. 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.