Houghton, MI home prices
Typical home $198,833 · +8.2% in a year · income needed $58,400
The Houghton, MI metro area ranks 643 of 894 U.S. metros for home values (U.S. typical home: $366,157). Prices changed +8.2% in a year and +23.1% over five years. With 20% down at 7.11%, the typical home costs about $1,362 a month including 1.16% property tax (Houghton County rate).
Mortgage on the typical Houghton home
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $39,767 | $159,066 | $1,070 | $0 | $292 | $1,362 | $58,400 |
| 10% down | $19,883 | $178,950 | $1,204 | $75 | $292 | $1,570 | $67,300 |
| 5% down | $9,942 | $188,891 | $1,271 | $79 | $292 | $1,641 | $70,300 |
| 3.5% down (FHA) | $6,959 | $195,232 | $1,313 | $88 | $292 | $1,693 | $72,600 |
Assumes a 30-year fixed loan at 7.11%, property tax of 1.16% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
Counties in the Houghton area
| County | Typical home | 1-yr change | Tax rate |
|---|---|---|---|
| Houghton County, MI | $196,480 | +7.6% | 1.16% |
| Keweenaw County, MI | $225,166 | +15.1% | 0.99% |
What can you afford in Michigan on your salary? · Michigan home prices · Salaries in Michigan
Frequently asked questions
How much is a house in Houghton?
The typical home in the Houghton, MI metro area is worth $198,833 (Zillow, September 2026).
What salary do you need to buy a house in Houghton?
About $58,400 a year for the typical home with 20% down at 7.11%.