Wise, MI housing market
Home prices around Wise have risen about 67% over the past 5 years. No new homes were permitted in 2008.
Home values, sales, trends and how Wise compares with the towns next door — updated as new data is published.
Home prices up 67% in 5 years
The federal house price index for the ZIP codes around Wise rose 67% over the past 5 years, faster than across Michigan (52%). Last year prices rose 5.2%. Carrying the Census median home value forward with that index puts the typical Wise home at roughly $244,000 today.
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| Year | Change that year | Since 2000 | Michigan since 2000 |
|---|---|---|---|
| 2025 | +5.2% | +123% | +97% |
| 2024 | +6% | +112% | +88% |
| 2023 | +12% | +100% | +76% |
| 2022 | +18% | +78% | +64% |
| 2021 | +13% | +51% | +45% |
| 2020 | +3% | +34% | +30% |
| 2019 | +2.9% | +30% | +26% |
| 2018 | +8% | +26% | +20% |
| 2017 | +7.1% | +17% | +12% |
| 2016 | +2.8% | +9% | +5.3% |
| 2015 | +1.5% | +6% | 0% |
| 2014 | +1.5% | +4.4% | −4.7% |
| 2013 | −1.4% | +2.8% | −12% |
| 2012 | +0.8% | +4.2% | −16% |
| 2011 | −4.8% | +3.5% | −16% |
| 2010 | −2.7% | +8.6% | −12% |
| 2009 | −5.5% | +12% | −5% |
| 2008 | −2.7% | +18% | +3.5% |
| 2007 | −1.6% | +21% | +11% |
| 2006 | +2.1% | +23% | +16% |
| 2005 | +3.4% | +21% | +18% |
| 2004 | +3.4% | +17% | +14% |
| 2003 | +4% | +13% | +10% |
| 2002 | +1.8% | +8.6% | +8.3% |
| 2001 | +6.7% | +6.7% | +5% |
| 2000 | — | — | — |
Federal Housing Finance Agency House Price Index (annual, developmental) for ZIP codes 48617, 48618, 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.
No new homes permitted in 2008
No permits for new homes were issued in Wise in 2008. The last year with any was 2006 (6 new homes).
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| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2008 | 0 | 0 | 0 | — |
| 2007 | 0 | 0 | 0 | — |
| 2006 | 6 | 6 | 0 | $360,000 |
| 2005 | 5 | 5 | 0 | $650,000 |
| 2004 | 23 | 23 | 0 | $1.2 million |
| 2003 | 19 | 19 | 0 | $950,000 |
| 2002 | 2 | 2 | 0 | $100,000 |
| 2001 | 14 | 14 | 0 | $700,000 |
| 2000 | 14 | 14 | 0 | $700,000 |
Wise's permit office didn't report to the Census in 2008, so the 2008 figures are Census estimates.
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey.
Wise and its neighbors
| Town | 1-yr change | 2-bed rent | New homes 2025 | Median income |
|---|---|---|---|---|
| Wise | +5.2%† | $1,040 | — | $68,125 |
| Vernon | +8.3%† | $1,030 | — | $80,706 |
| Sheridan | +7.2%† | $1,040 | 9 | $64,135 |
| Warren | +1.6%† | $1,030 | 3 | $72,750 |
| Denver | +4.7%† | $1,020 | — | $61,912 |
† FHFA price index change, where Zillow has no home value for the town.
2 years of income
The typical Wise home costs about 2 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 $1,040
HUD's Fair Market Rent for a two-bedroom in Wise is $1,040 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in Wise pay a median of $775, so moving in tends to cost more than staying put. A two-bedroom takes about 18% of the town's median household income.
Studio $770 · 4 bedrooms $1,550
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (48617, 48618; Clare 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. 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. 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.