Housing in Thompson

A typical Thompson home is worth roughly $231,000

Home prices around Thompson have risen about 61% over the past 5 years.

Typical home value

$231K

▲ 16.1% in a year · MI $266K

Estimate

2-bedroom rent

$970

a month, utilities in · HUD

Median tax bill

$1,674

MI $2,904

What kind of housing town is Thompson?

Read from the numbers below. The page puts what stands out first.

Prices climbing fastUp 16.1% in a year.A second-home town41% of homes are seasonal or vacation homes.A town of owners92% of households own their home.

★ What stands out · Price trend

Home prices up 61% in 5 years

The federal house price index for the ZIP code around Thompson rose 61% over the past 5 years, faster than across Michigan (52%). Last year prices rose 16%.

Thompson areaMichigan

+16%

past year

+61%

past 5 years

+86%

past 10 years

Federal Housing Finance Agency House Price Index (annual) for the ZIP codes around Thompson, weighted by land area. It tracks repeat sales of the same homes, so it shows how prices changed, not what homes cost.

The homes

92% of Thompson households own their home

Half of Thompson’s homes were built before 1994.

Owners and renters

Own 92%Rent 8%

Michigan: 73% own.

1994

typical home built · MI 1972

$1,674

median property tax bill · MI $2,904

0.73%

of a home’s value, a year in tax · MI 1.25%

41%

of homes are seasonal or vacation homes

U.S. Census Bureau, American Community Survey 2020-2024 · figures for a place this size carry wide margins of error.

Affordability

A typical home costs 2.8 years of income

Less than across Michigan (3.7 years). Try your own numbers below.

You could afford about

$327,000

Typical Thompson home $231K

That covers a typical Thompson home, with $97K to spare.

The typical home, each month

$1,350

Loan $1,140Tax $140Insurance $70

A two-bedroom rents for about $970 a month here, $380 less than owning.

Where your budget reaches nearby

Inwood$229K Hiawatha$185K Garden$226K

An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, Thompson’s typical property tax (0.73% of value a year, from the Census) and insurance of about 0.35%. Mortgage insurance, HOA fees and other debts aren’t included.

Renting

A two-bedroom rents for about $970

Fair Market Rent a month, utilities included

Studio$690

1 bedroom$860

2 bedrooms$970

3 bedrooms$1,340

4 bedrooms$1,420

of households rent · MI 27%

renter households

U.S. Department of Housing and Urban Development, Fair Market Rents by ZIP code (Delta County, MI): the 40th-percentile rent plus utilities for a standard unit. Median rent and renters: U.S. Census Bureau, American Community Survey.

Next door

Thompson vs. its neighbors

Thompson is the priciest of 4 neighboring towns. Tap one to see its housing page.

Thompson$231K Inwood$229K Garden$226K Hiawatha$185K

Compare more

Town	Typical value	1-yr change	2-bed rent	Median income
Thompson	$231K*	+16.1%†	$970	$82,031
Inwood	$229K*	+16.1%†	$1,020	$64,922
Hiawatha	$185K*	+16.1%†	$1,010	$79,196
Garden	$226K	+12.4%	$1,130	$51,838

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 Thompson buyers, sellers and renters are saying.

Town Square →

Weigh in

Is Thompson still affordable for young families?

Your answer becomes a post in Town Square.

Start the conversation

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. The calculator is an estimate, not a loan offer.