All homes and bedroom counts
RENTAL MARKET INTELLIGENCE
Michigan City, IN
Michigan City merits investigation by value-focused rental buyers who can tolerate soft labor and migration signals; investors needing strong demand momentum should avoid it.
Median price$263k
Median rent$1,137
Gross yield5.2%
Job growth▼ 0.3%
Composite Market ScoreRank #110 of 571 scored US market areas
Direct rental answer
How much is rent in Michigan City, IN?
Zillow's metro-wide Observed Rent Index is $1,137 per month for 2026-06-30. That is up 4.14% from a year earlier.
Occupied rental units paying rent
Two-bedroom standard
These figures are not averaged together. Zillow and Realtor describe asking-rent markets, ACS measures rent paid by surveyed households, and HUD publishes administrative bedroom standards.
Exact county schedules
HUD rent benchmarks inside Michigan City
Every row keeps its own county FIPS schedule. No county is selected as a metro proxy and no synthetic metro FMR is calculated.
| County | Studio | 1 BR | 2 BR | 3 BR | 4 BR |
|---|---|---|---|---|---|
| LaPorte County, INFIPS 18091 | $874 | $953 | $1,152 | $1,454 | $1,680 |
The read
Why this market scores where it does
Michigan City merits investigation by value-focused rental buyers who can tolerate soft labor and migration signals; investors needing strong demand momentum should avoid it. A $263,103 median home value and $1,137 median asking rent produce a 5.19% gross yield, while rent consumes 19.2% of median household income.
Opportunity lies in affordability and a relatively tight resale market. The price-to-income ratio is 3.7, months of supply is 2.5, and homes spend a median 33 days on market. Yet 29.93% of listings have price drops, so tight inventory does not eliminate negotiation risk.
Risk is concentrated in weak demand evidence: jobs fell 0.3% year over year, and tax filings show net migration of -104 households. New supply is not absent, with 296 permits recorded, while inland flood is the dominant hazard. Underwrite current rents conservatively and inspect property-level flood exposure before relying on the market's affordability.
Frequently Asked Investor Questions
What rent and yield does the record show?
Median asking rent is $1,137 on a $263,103 median home value, with a reported gross yield of 5.19%.
Are movers adding households and income?
Tax filings show 2,227 households moved in and 2,331 moved out, while incoming movers averaged $59,833 in income versus $54,187 for outgoing movers, a $5,646 gap.
What climate risk stands out?
Inland flood is the dominant hazard, and the annual climate loss ratio is 0.0846% of building value.
Investor Quick Takeaways
Gross Yield: 5.2%
Computed from the current Zillow rent and home-value medians.
Rent Momentum: ▲ 4.14%
Zillow ZORI rent growth trend over trailing 12 months.
Investor Activity: 8.9%
Originated investment purchase share (CFPB HMDA).
Climate Exposure: FEMA NRI
Annualized loss ratio evaluated for flood & hurricane risk.
Put the evidence to work
Test the market, then test the deal
Keep Michigan City as the starting point or move into a more specific property and rent check.
Run cash flowStarts with this market's measured price and rentSave to shortlistCompare this metro with up to four other placesCheck rent by ZIPMove from metro context to a local rent benchmarkFind a comparison marketRead a curated two-market decision analysisShare this analysisEmail the canonical link without adding page scriptsReport a data issueSend the figure, source and release period to review
Market pulse
The current market in eight signals
Fast-moving Redfin conditions sit beside the slower fundamentals so a buyer can separate today's negotiating climate from the long-run investment case.
Months of supply2.5 mo.▼ from 3.4 mo. a year ago
Median days on market33 days▼ from 39 days a year ago
Listings with price drops29.9%▲ from 23.5% a year ago
Sale-to-list ratio97.8%2026-05-01
Home value growth▲ 4.2%Zillow ZHVI · trailing 12 months
Rent growth▲ 4.14%Zillow ZORI · trailing 12 months
Gross rental yield5.2%Rent × 12 ÷ price
Payroll job growth▼ 0.3%CES · 12m to 2026-06
Release-to-release evidence
What actually changed
This comparison exists because at least one underlying source period advanced. Rebuilding the same data never creates a new observation.
Published score held steady63→63
0 ptsThe published component scores did not move in this release.
Weights were unchanged at metro-2026-07-v2-omb2023, so the movement comes from refreshed evidence and percentile ranks.
The named source periods advanced, but the measured values on this page held steady.
Composite breakdown
What each component measures
Weights are published, not hidden, and the arithmetic is shown. Five components, each measured as a national percentile across all tracked metros.
Published arithmeticComponent × weight = points
63| Signal | Score | Weight | Points |
|---|---|---|---|
| Job growth | 33 | 30% | 9.90 |
| Rent trend | 62 | 25% | 15.50 |
| Affordability | 86 | 15% | 12.90 |
| Supply pressure | 70 | 15% | 10.50 |
| Climate risk | 94 | 15% | 14.10 |
| Published score | 63 | ||
Michigan City, IN scoreRank #110
63Job growth33/100
CES jobs fell 0.3% year over year -> the labor market provides weak support for tenant demand.
Rent trend62/100
Median asking rent rose 4.14% to $1,137 -> recent rent performance is positive, but it sits beside declining employment.
Affordability86/100
Rent equals 19.2% of median household income, and price-to-income is 3.7 -> affordability is the strongest economic entry signal.
Supply pressure70/100
Months of supply is 2.5, 29.93% of listings have price drops, and 296 permits were issued -> inventory is tight, but pricing and the supply pipeline still need scrutiny.
Climate risk94/100
The annual climate loss ratio is 0.0846% of building value, with inland flood dominant -> broad loss exposure is limited, but property-level water risk remains.
The numbers
What this market costs and what it earns
Every derived ratio below recomputes from the same source record used by the article and score.
ZHVI Median Price
$263k
YoY ▲ 4.2%
ZORI Median Rent
$1,137
YoY ▲ 4.14%
Gross Rental Yield
5.2%
Rent × 12 ÷ price
$1,137 × 12 ÷ $263,103
Job Growth (YoY)
▼ 0.3%
CES payrolls
Job signal 33/100
Median Household Income
$71k
Census ACS 5-year
Rent Burden
19.2%
Annual rent ÷ household income
Price-to-Income
3.7x
Median value ÷ household income
HUD 2BR Fair Market Rent
$1,152
Market rent 98.7% of FMR
Historical affordability context
Compare aligned 2019 and 2024 asking-rent and nominal household-income endpoints across the direct-overlap metro set.
Independent rent evidence
One market, several legitimate rent benchmarks
These releases observe different homes and different moments. RentMarker keeps them separate: ZORI remains the scoring baseline, while the other sources test how sensitive the market story is to bedroom mix and measurement method.
Monthly benchmark4 of 4 reported values
Zero-based scale$1,137Primary RentMarker baseline
2026-06-30
All homes and bedroom counts
A smoothed metro rent index for observed rentals; it is the primary rent used by RentMarker scores and career ratios.
View source release ↗$953−$184 vs ZORI
FY2026 FMR
One-bedroom standard
An administrative gross-rent benchmark used by HUD programs; it is neither a listing median nor a prediction of one lease.
View source release ↗$1,152+$15 vs ZORI
FY2026 FMR
Two-bedroom standard
An administrative gross-rent benchmark used by HUD programs; it is neither a listing median nor a prediction of one lease.
View source release ↗$976−$161 vs ZORI
ACS 2024 5-year
Occupied rental units paying rent
A five-year survey estimate of contract rent plus applicable tenant-paid utilities; it is not a current asking-rent index.
View source release ↗Take the next step
Keep Michigan City as context, then replace market-wide evidence with the candidate property's facts.
Regional price level
What feels expensive inside Michigan City
BEA compares each category with the United States, which equals 100. This is a 2024 price-level comparison—not annual inflation.
BEA Regional Price Parities · 2024US = 100
Occupation wage lens
How asking rent sits against major local occupations
Annualized Zillow asking rent is divided by each BLS annual median wage. This is a screening ratio for one wage, not a household budget or affordability verdict.
Six largest published major groupsannual rent ÷ median wage
Production Occupations$45,450 median wage
30.0%
Food Preparation and Serving Related Occupations$28,970 median wage
47.1%
Sales and Related Occupations$34,290 median wage
39.8%
Office and Administrative Support Occupations$44,200 median wage
30.9%
Transportation and Material Moving Occupations$38,010 median wage
35.9%
Healthcare Practitioners and Technical Occupations$79,990 median wage
17.1%
Supply pipeline
What is being built, and for whom
Permits are the 12-to-24 month early warning. The total matters less than the mix: apartments compete with a rental the day they open.
National supply context
Compare this authorization pipeline with asking-rent growth, jobs and for-sale liquidity across the evidence-complete metro set.
Building permits by structure type
units per year · latest year annualised
296 units authorised in 2026, 28% of them in 5+ unit buildings. A meaningful share is apartments, which discount first when they lease up. ✓ recomputed from series
Who is arriving, and who is buying
Demand, and the competition for it
Tax filings say how many households moved and what they earn; mortgage disclosures say how many local purchases went to someone who will not live there. Moves between counties inside this metro are netted out of both flow figures.
Net Household Move
−104
2,227 in vs 2,331 out (IRS SOI)
▼ 4.7% of arriving households
Mover Income Gap
+$5,646
Arriving $59,833 vs leaving $54,187
Average AGI per tax return (IRS SOI)
Investor Purchase Share
8.9%
103 of 1,156 originated purchase loans
CFPB HMDA 2024
Dominant Hazard
inland flooding
0.085% building value annual loss ratio
FEMA NRI · risk type: water
Compare yield and FEMA exposure →Households arrive mainly from: Porter County · Lake County · St. Joseph County · Cook County · Berrien County
✓ 2,227 in − 2,331 out = -104 netDirect market links
Where tax-return households moved from and to
These are the largest flows where both counties map to a RentMarker market area. They are a documented subset of the all-US IRS totals above.
Leading inbound markets
- Chicago, IL956 arriving
- South Bend, IN218 arriving
- Niles, MI96 arriving
Leading outbound markets
- Chicago, IL767 leaving
- South Bend, IN249 leaving
- Indianapolis, IN90 leaving
The other side
What would make this a bad buy
Generated from the same figures with the instruction to argue against the score, and published unedited. A page that only agrees with itself is an advertisement.
Three ways the case breaks
- Employment declined 0.3% year over year, leaving the rental market without job-growth support.
- Tax filings show 2,331 households moved out versus 2,227 moved in, for net migration of -104 households.
- Price cuts affect 29.93% of listings despite 2.5 months of supply, indicating seller-pricing friction.
Inside this metro area
Move from the market-area average to local evidence
Use the available county and city pages to add local price, rent, housing, migration and hazard context to the market-area view.
County records
Statistical peers
Market areas that behave like Michigan City
Nearest neighbours on price level, income, yield and job growth — not on geography. Every market page gets a different peer set, which is the point.
| Market area | Score | Price | Rent | Yield | Job Growth |
|---|---|---|---|---|---|
| Michigan City, IN (Target) | 63 | $263k | $1,137 | 5.2% | ▼ 0.3% |
| Grand Forks, ND | 65 | $282k | $1,148 | 4.9% | ▲ 0.3% |
| Janesville, WI | 63 | $300k | $1,208 | 4.8% | ▼ 0.3% |
| Staunton, VA | 54 | $339k | $1,593 | 5.6% | ▼ 0.5% |
| Mankato, MN | 55 | $313k | $1,224 | 4.7% | ▼ 0.1% |
Provenance
Where every figure came from
“Checked nightly” means every source is re-pulled and re-verified each night. It does not mean every source moves nightly — the release column tells you how fresh each number can possibly be.
| Dataset Source | Method | Release Period | Pulled Date |
|---|---|---|---|
| Census ACS 5-year — household income and gross rent | direct | ACS 2024 5-year | 2026-08-05 |
| Census ACS 5-year — historical household income | direct | ACS 2019 and 2024 5-year | 2026-08-05 |
| Census ACS 5-year — population | direct | ACS 2024 5-year | 2026-07-26 |
| Apartment List Rent Estimates — recent-lease rent index | direct | Apartment List 2026-07 | 2026-08-08 |
| Apartment List Time on Market — listing liquidity | direct | Apartment List 2026-07 | 2026-08-08 |
| Apartment List Vacancy Index — rental vacancy | direct | Apartment List 2026-07 | 2026-08-08 |
| BEA County Personal Income — income and population | direct | 2024 County Personal Income (released 2026-02-05); history 1969-2024 | 2026-08-03 |
| BEA Regional Price Parities — metropolitan price levels | direct | 2024 Regional Price Parities (released 2026-02-19); history 2008-2024 | 2026-08-03 |
| BLS CES — payroll employment | direct | CES SM current | 2026-07-26 |
| BLS LAUS — resident employment | direct | LAUS current | 2026-07-26 |
| BLS OEWS — occupation employment and wages | direct | May 2025 OEWS estimates (released 2026-05-15) | 2026-08-03 |
| BLS QCEW — county employment and wages | direct | annual county employment and wages 2021-2025; latest 2025 vs 2024 | 2026-08-02 |
| OMB/BLS delineation — metro geography | direct | OMB July 2023 delineation | 2026-07-30 |
| Census Building Permits Survey — permitted units | direct | BPS through 2026 | 2026-07-26 |
| Census ACS 5-year — city population, households and housing | direct | ACS 2024 5-year | 2026-07-29 |
| Census ACS 5-year — county housing value, tenure and stock | direct | ACS 2024 5-year | 2026-07-30 |
| Census ACS 5-year — cities and communities | direct | ACS 2024 5-year | 2026-07-30 |
| Census ACS five-year — ZCTA housing and income | direct | ACS 2024 5-year ZCTA | 2026-08-08 |
| FEMA National Risk Index — hazard loss ratios | modelled | NRI counties (FEMA ArcGIS) | 2026-07-26 |
| FHFA House Price Index — annual county appreciation | direct | annual county HPI history 1975-2025; latest 2025 | 2026-08-02 |
| HMDA / CFPB — purchases by occupancy type | direct | HMDA 2024 purchase originations | 2026-07-26 |
| HUD CHAS — renter burden by HAMFI income band | direct | HUD CHAS 2018-2022 ACS 5-year (released 2025-12-23) | 2026-08-03 |
| HUD Fair Market Rents — Section 8 standard | direct | FY2026 FMR | 2026-07-26 |
| HUD USPS crosswalk and Small Area FMRs — ZIP rent fallback | direct | ZIP-CBSA 2025Q4 + SAFMR FY2026 | 2026-07-26 |
| HUD-USPS ZIP-to-county residential-address crosswalk | direct | HUD-USPS 2026Q1 | 2026-08-09 |
| IRS SOI — county migration and mover income | direct | SOI migration 2022-2023 | 2026-07-26 |
| Freddie Mac PMMS — mortgage rates | direct | week of 2026-07-30 | 2026-08-06 |
| Census ACS 5-year — effective property tax | direct | ACS 2024 5-year | 2026-08-06 |
| Realtor.com Economic Research — county listing inventory | direct | county inventory 2026-06 | 2026-07-28 |
| Realtor.com Rental Report — top-50 asking rents | direct | top-50 rental asking rents 2026-05 | 2026-08-05 |
| Redfin Data Center — inventory, days on market, and price cuts | direct | metro tracker through 2026-05-01 | 2026-07-26 |
| Redfin Data Center — ZIP resale activity and supply | direct | ZIP rolling 3 months through 2026-06-30; updated 2026-07-03 | 2026-08-12 |
| USDA ERS — Rural-Urban Continuum Codes | direct | USDA ERS 2023 Rural-Urban Continuum Codes | 2026-08-02 |
| Zillow ZHVI and ZORI — county values and rents | direct | county ZHVI/ZORI 2026-06 | 2026-07-26 |
| Zillow ZHVI — metro home values | direct | Metro_zhvi_uc_sfrcondo_tier_0.33_0.67_sm_sa_month.csv | 2026-07-26 |
| Zillow ZHVI — city home values | direct | zillow_zhvi_city.csv | 2026-07-29 |
| Zillow ZORI — metro market rents | direct | Metro_zori_uc_sfrcondomfr_sm_sa_month.csv | 2026-07-26 |
| Zillow ZORI — city market rents | direct | zillow_zori_city.csv | 2026-07-29 |
| Zillow ZORI - metro market rents, not seasonally adjusted | direct | Metro_zori_uc_sfrcondomfr_sm_month.csv | 2026-08-15 |
| Zillow ZORI — ZIP market rents | direct | ZORI ZIP 2026-06 | 2026-08-08 |