The story of this market
The typical home in Luce County, Michigan sells for about $134,000, or $115 per square foot.
Prices are roughly flat from a year ago (+0.9%), a market in balance. Homes take about 120 days to sell, which is slow. Over the long run, values in this county have grown 48% since 2000. HUD's fair market rent for a two-bedroom is $1,014 a month.
HUD sets the fair market rent for a 2-bedroom at $1,014 a month. FEMA's National Risk Index rates overall hazard risk here as Relatively Low.
Price climate
Every year of price change, 2000–2025
+2.3%
2025
Each stripe is one year's median price change across the area's census tracts (FHFA repeat-sales index). Deep blue is a strong gain year, red a falling year. Best: 2022 (+29.1%). Worst: 2012 (-10.3%). Hover to read a year.
Monthly price momentum
Home values since 2015
+4.5%
MI · past 12 months
Freddie Mac House Price Index, single-family homes, monthly through 2026-08. Each line starts at 100 in January 2015, so a reading of 180 means prices are up 80% since then.
Rent benchmark
Fair market rent by size
$1,208
3-bed / month
HUD Fair Market Rents, fiscal 2027, for this county. A typical rent for a modest unit, used to set housing-voucher payments.
Neighborhood price trend
Long-run price trend, 2000–2025
+2.3%
2025 change
FHFA repeat-sales index, median of 2 census tracts in this county (2000 = 100). Bars are each year's median change.
Natural hazard exposure
The area's risk shape
30
Relatively Low
FEMA National Risk Index. Each spoke is a hazard ranked nationally, where 100 is the most exposed. Expected annual loss: $1,715,661.
Mortgage activity
Home lending in this county
76.3%
2018 approval rate
| Year | Applications | Loans made | Approval | Investor share | Median home value |
|---|---|---|---|---|---|
| 2018 | 138 | 74 | 76.3% | 2.3% | $105,000 |
CFPB Home Mortgage Disclosure Act records: every mortgage application reported by lenders for homes in this county. Approval rate is approved ÷ decided (withdrawn and incomplete files excluded). Investor share and home value are the median census tract.
Luce County, Michigan
The Luce County housing market is characterized by low inventory and stable, modest price growth. Demand remains steady, driven by local residents and interest in rural recreational properties, though the limited population base keeps transaction volume low.
No ARED distress-ledger coverage for this county yet — the foreclosure ingest rotates the national county directory, and filings appear here once the county's posted notices are read. Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.
Select a city to expand its ZIP intel reports beneath · 1 city · 1 ZIP report
Median prices moved up 2.5% year over year.
Homes spend a median of 88 days on market with 7.2 months of supply — a slower-moving market.
12% of listings have cut prices · homes sell at 96.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 7.7% · poverty 16.7% — a mixed stability profile.
ACS 2024 5-year estimates. Aggregate published statistics for this county — never individual records, and never an attribute of any individual property or resident.
Deterministic aggregate of 1 researched ZIP reports — sales_count-weighted (population fallback); per point, children lacking the value or its weight are excluded. Tax rates, sentiment and context notes are tier-native and never roll.
Luce County, Michigan — researched county-level history with a deterministic 1 / 3 / 5-year projection
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 3.5%/yr trend — a deterministic estimate, not a published forecast or guarantee.
No researched properties in this county yet — the property base layer populates as property research runs, and each property feeds its ZIP's roll-up.
researched Sep 22
| 49868 | Newberry | $159,000 | $115 | +2.5% | 88 | 96.5% | 12% | 7.2 | 86 | $663 | researched Sep 22 |
Figures are each ZIP report's own latest research — the county roll-up aggregates them sales_count-weighted (population fallback); ZIPs cycle quarterly.
Crime rates in Luce County remain low and are generally below state and national averages, reflecting its rural character in the Upper Peninsula.
Public education is primarily served by the Newberry Area Schools, which provides standard K-12 instruction for the county's sparse population.
The county faces typical Upper Peninsula climate risks, including heavy winter snowfall and potential forest fire hazards in its extensive wooded areas.
Economic momentum is modest, anchored by government services, forestry, and tourism, with limited large-scale industrial development.
Property taxes are assessed at the local level based on state-equalized values, with millage rates determined by county, township, and school district levies.
The county offers extensive outdoor recreation, including access to the Tahquamenon Falls State Park, numerous lakes for fishing, and vast snowmobile trail networks.
The rental market is limited in depth, primarily consisting of single-family homes and small multi-family units with low turnover.
The economy is driven by the public sector, healthcare, and natural resource-based industries like forestry and tourism.
Transportation is primarily via M-28 and M-123, which serve as the main corridors connecting the county to the rest of the Upper Peninsula.
The Luce County Equalization Department oversees the assessment process to ensure uniform property valuations across townships.
The county is served by local school districts and regional intermediate school districts that coordinate educational services.
Property insurance premiums are influenced by the region's rural nature and specific wildfire and winter-weather risk profiles.
- The Belvedere Grand4.527.3 mi
- Tahquamenon Falls State Park4.914.9 mi
- Oswald’s Bear Ranch4.611.2 mi
- Crisp Point Lighthouse4.816.9 mi
- Tahquamenon Upper Falls4.912.2 mi
- Tahquamenon Falls Lower Falls4.914.6 mi
- Great Lakes Shipwreck Museum4.729.3 mi
- Crisp Point Lighthouse4.816.9 mi
- Whitefish Point Lighthouse4.829.4 mi
- Edmund Fitzgerald Memorial4.829.4 mi
- Tahquamenon Logging Museum4.614.7 mi
- Tahquamenon Falls State Park4.914.9 mi
- Tahquamenon Falls Lower Falls4.914.6 mi
- Muskallonge Lake State Park4.78.5 mi
- Lake Superior State Forest Campground4.613.2 mi
- Newberry Campground4.319.3 mi
- Whitefish Point State Dock4.628.8 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
The amenity base that shapes daily life and property demand in this county — what residents actually live with, and what the pipeline is adding.
Features one of the largest waterfalls east of the Mississippi and extensive hiking trails.
The county seat's downtown area provides local shopping, dining, and historic architecture.
Data sourced from US Census Bureau QuickFacts and Census Reporter.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
applies when — Real property owned and used as a homestead by a disabled veteran or their surviving spouse.
Provides an exemption from property taxes levied for school operating purposes and potentially other local taxes depending on eligibility.
MCL 211.7b
applies when — Delinquency in real property tax payments.
A three-year forfeiture and foreclosure process. Property is forfeited to the county treasurer after two years of delinquency. If taxes remain unpaid by March 31 of the third year, the property is foreclosed upon by the Foreclosing Governmental Unit.
General Property Tax Act, Public Act 206 of 1893; MCL 211.78k
applies when — Transfer of interest in real estate consisting of not less than 1 or more than 4 residential dwelling units.
Sellers must provide a written disclosure statement to prospective buyers regarding the condition of the property, including known defects.
Seller Disclosure Act, Act 92 of 1993
Property is assessed at 50% of true cash value (State Equalized Value). Taxable value is capped at the lesser of the state equalized value or the previous year's taxable value adjusted by the consumer price index (up to 5%), unless a transfer of ownership occurs. The tax is calculated by multiplying the taxable value by the local millage rate.
General Property Tax Act, Public Act 206 of 1893
Governance registry — every jurisdiction re-researches on a rolling 90-day cycle. Property reports compose these inherited burdens into a per-parcel ledger with conditional determinations. Informational only — not legal advice.