Rapid River, MI housing market
The typical Rapid River home is worth about $216,000, up 11.4% in a year, 19% below the Michigan typical home.
Home values, sales, trends and how Rapid River compares with the towns next door — updated as new data is published.
Rapid River at a glance
Only 1 sale in April 2026: in a market this size, monthly medians swing a lot, so the typical value above is the steadier guide.
Typical home value, 2016–2026
Show as a table
| January | Rapid River | Michigan |
|---|---|---|
| 2017 | $114,000 | $144,000 |
| 2018 | $119,000 | $155,000 |
| 2019 | $121,000 | $165,000 |
| 2020 | $130,000 | $175,000 |
| 2021 | $146,000 | $194,000 |
| 2022 | $163,000 | $217,000 |
| 2023 | $172,000 | $230,000 |
| 2024 | $177,000 | $241,000 |
| 2025 | $195,000 | $253,000 |
| 2026 | $206,000 | $262,000 |
| August 2026 | $216,000 | $266,000 |
Rapid River and its neighbors
| Town | Typical value | 1-yr change | 2-bed rent | Median income |
|---|---|---|---|---|
| Rapid River | $216K | +11.4% | $1,060 | $72,273 |
| Coldsprings | — | +10.6%† | $1,080 | $61,198 |
| Custer | — | +2.6%† | $1,080 | $83,750 |
| Clearwater | — | +8.3%† | $1,140 | $74,663 |
| Kalkaska | $213K | −2.1% | $1,060 | $64,253 |
† FHFA price index change, where Zillow has no home value for the town.
3 years of income
The typical Rapid River home costs about 3 years of the town's median household income, less 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 $1,060
HUD's Fair Market Rent for a two-bedroom in Rapid River is $1,060 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in Rapid River pay a median of $992. A two-bedroom takes about 18% of the town's median household income.
Studio $760 · 4 bedrooms $1,440
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (49612, 49646, 49659, 49676; Kalkaska County, MI HUD Metro FMR Area), 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, April 2026. 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.