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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Manistique, MI Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Manistique, MI Housing Market Trends

With 2,877 people, 1,444 houses or apartments, and a median cost of homes of $88,911, house prices in Manistique are some of the most affordable in Michigan as well as the nation.

Single-family detached homes are the single most common housing type in Manistique, accounting for 70.54% of the city's housing units. Other types of housing that are prevalent in Manistique include large apartment complexes or high rise apartments ( 15.59%), duplexes, homes converted to apartments or other small apartment buildings ( 7.74%), and a few mobile homes or trailers ( 3.59%).

Dwellings in Manistique tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 50.06% of the homes in Manistique have two or fewer bedrooms.

The housing in Manistique was primarily built before 1939 ( 41.52%), making the housing stock in Manistique some of the oldest overall in America, although there is a range of ages of homes in Manistique. The next most important housing age is between 1940-1969 ( 33.85%), followed by between 1970-1999 ( 22.71%). There's also some housing in Manistique built between 2000 and later ( 1.92%).

Vacant housing appears to be an issue in Manistique. Fully 10.64% of the housing stock is classified as vacant. Left unchecked, vacant Manistique homes and apartments can be a drag on the real estate market, holding Manistique real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Manistique Home Appreciation Rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in Manistique, where house values have increased just 37.20%, which is annualized rate of 3.21%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.

Appreciation rates are so strong in Manistique that despite a nationwide downturn in the housing market, Manistique real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Manistique appreciation rates continue to be some of the highest in America, at 7.90%, which is higher than appreciation rates in 86.06% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Manistique. Manistique appreciation rates in the latest quarter were at 2.30%, which equates to an annual appreciation rate of 9.51%.

Importantly, this makes Manistique one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Michigan, our data show that Manistique's latest annual appreciation rate is higher than 80% of the other cities and towns in Michigan.

Average Home Values

Median Home Value

$88,911

Manistique, MI Home Prices
> $1,183,000
$887,001 - $1,183,000
$591,001 - $887,000
$473,001 - $591,000
$355,001 - $473,000
$236,001 - $355,000
$118,001 - $236,000
$59,001 - $118,000
$0 - $59,000
0.0%
0.0%
0.0%
0.0%
0.1%
0.1%
0.3%
0.3%
1.7%
1.7%
10.1%
10.1%
24.7%
24.7%
37.7%
37.7%
25.4%
25.4%
0% 100.0%
% of Homes
Very Low

for Michigan

Very Low

for nation

Number of Homes And Apartments:

1,444

Manistique Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,011 / per month

Homeownership Rate

Owners
Renters
66.8%
66.8%
33.2%
33.2%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
10.6%
10.6%
89.4%
89.4%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
1.9%
1.9%
22.7%
22.7%
33.8%
33.8%
41.5%
41.5%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
70.5%
70.5%
2.5%
2.5%
7.7%
7.7%
15.6%
15.6%
3.6%
3.6%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
4.5%
4.5%
17.3%
17.3%
28.3%
28.3%
31.5%
31.5%
13.6%
13.6%
4.8%
4.8%
0% 100.0%
% of Homes

Popular Neighborhoods in Manistique

Popular Communities Near Manistique, MI

Zip Codes in Manistique, MI