Houghton County presents an income-versus-liquidity underwriting tension: income-oriented buyers should investigate the stated yield, while buyers depending on quick resale or stable tenant depth should be cautious. Zillow reports a 2026-06 median home value of $195,813, up 7.04% year over year. FHFA’s 2025 repeat-transaction HPI rose 5.25%. These are distinct vintages and methods; the index supports Zillow’s direction but is not a home value and should not be averaged with it.
Measured median asking rent is $1,736 monthly, and the supplied gross yield is 10.64% before operating costs. This is a market-rent calculation, not a HUD calculation: HUD FMR is a payment standard rather than an estimate of asking rent. The 1.16% effective property-tax rate is a carrying-cost input that narrows the usefulness of gross yield. Property-specific tax bills, insurance, repairs, vacancy and financing costs are not published, so net yield cannot be determined.
QCEW’s annual county workplace series records 12,487 covered jobs, up 2.99%. Trade, transportation, and utilities is the largest disclosed private supersector, not a description of the whole economy or resident employment. Tax-return migration shows a net loss of 208 households, although inbound movers’ average AGI exceeded outbound movers’ by $6,327. Investors accounted for 34 of 258 purchase mortgages, or 13.18%; this is non-occupant participation in financed purchases, not total investor ownership or proof of bidding pressure.
Modeled climate loss equals 0.09% of building value per year, with inland flood the dominant hazard; parcel-level exposure, insurance terms and mitigation condition are absent. Realtor.com MLS listing-price, active-listing, days-on-market and reduction data are not published, preventing a read on visible supply, seller concessions and marketing time. Even if available, those would be listing-market rather than closed-sale evidence. Next checks are property-specific flood history and insurance, rent comps and leases, operating expenses, sale comps, and MLS inventory and pendings.