Photo: Andrew Jameson · CC BY-SA 3.0Measured against area pay, Ishpeming costs less to live in than 84% of U.S. towns
It ranks #49 of 701 in Michigan for affordability. Up 8.4% in a year, 24% below the Michigan typical home.
Census 2020–24 home values, rents, tax bills and cost burden, measured against the median household income of the Marquette, MI micro area ($65K). How TownRatings grades cost of living
The grade compares costs with what households across the Marquette-area micro earn ($65K, Census 2020–24). The typical home costs 1.7 years of area income, and 53% of renters pay 30% or more of income for housing.
In dollars
- $201Ktypical home, 24% below the Michigan typical homeZillow, September 2026
- $970a month for a two-bedroom, utilities includedHUD Fair Market Rent, 2026
In paychecks the grade
- 1.7 yrsof area income buys the typical home; the typical U.S. town: 3.3$65K, Marquette-area income
- 13%of area income goes to the median rent; the typical U.S. town: 18%Census 2020–24
- 53%of renters pay 30%+ of income for housing; across Michigan: 50%Census 2020–24
- 16%of owners do; the typical U.S. town: 20%Census 2020–24
What Ishpeming’s housing numbers say
Values rose faster than Michigan’s over five years
The typical Ishpeming home is up 49% in five years, against 24% across Michigan. Since October 2016 it has about doubled, from $97K to $201K. Price trend ↓
An older housing stock
Half of Ishpeming’s homes were built before 1941, against 1972 for Michigan as a whole. Older homes can mean character, and also bigger heating and repair bills, so an inspection matters. Property taxes ↓
A median income goes further next door
At Ishpeming’s median income, the calculator’s budget of about $190K falls short here but covers the typical home in Tilden Township ($143K). Can I afford it? ↓
Written from the data on this page. Home values are the Zillow Home Value Index, through September 2026; sales and supply are Redfin’s for September 2026; incomes, rents paid, taxes and ownership come from the Census American Community Survey.
What’s behind Ishpeming’s grade
Measured against what households in the area earn, Ishpeming is more affordable than 84% of U.S. towns, #49 of 701 in Michigan. The share of households paying 30%+ for housing pulls the grade down most; home prices hold it up.
Values have outpaced Michigan: the typical Ishpeming home is up 49.0% in five years, against 24.4% statewide (Zillow).
Up 49% in five years
Faster than Michigan (24.4%).
Show as a table
| January | Ishpeming | Michigan |
|---|---|---|
| 2017 | $98,000 | $142,000 |
| 2018 | $101,000 | $153,000 |
| 2019 | $106,000 | $164,000 |
| 2020 | $112,000 | $173,000 |
| 2021 | $123,000 | $192,000 |
| 2022 | $141,000 | $215,000 |
| 2023 | $157,000 | $228,000 |
| 2024 | $164,000 | $238,000 |
| 2025 | $174,000 | $250,000 |
| 2026 | $189,000 | $259,000 |
| September 2026 | $201,000 | $264,000 |
A typical Ishpeming home worth $97K in October 2016 is worth about $201K today.
Zillow Home Value Index: the typical value of all homes (middle third), smoothed and seasonally adjusted, through September 2026.
Too few sales to read the market
Only 11 homes sold in September 2026, the latest month in Redfin’s figures: too few to describe the market or quote a median sale price.
A typical home costs 1.7 years of area income
The calculator starts from the area income the grade uses. Switch to Ishpeming’s own median, or type yours.
That covers a typical Ishpeming home, with $32K to spare.
A two-bedroom rents for about $970 a month here, $340 less than owning.
An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, Ishpeming’s typical property tax (1.51% of value a year, from the Census) and insurance of about 0.35%. Mortgage insurance, HOA fees and other debts aren’t included.
A two-bedroom rents for about $970
Renters already here pay a median of $733, so moving in tends to cost more than staying put.
Fair Market Rent a month, utilities included
U.S. Department of Housing and Urban Development, Fair Market Rents by ZIP code (Marquette County, MI): the 40th-percentile rent plus utilities for a standard unit. Median rent and renters: U.S. Census Bureau, American Community Survey.
Low tax bills, but a high tax rate
The median bill is $1,689, under the Michigan median of $2,904, because homes cost less. As a share of value it’s 1.51% a year, against 1.25% statewide.
Census American Community Survey 2020–24: the median real-estate tax bill homeowners report, and that bill ÷ the median home value. Bills include town, school and county taxes. The Census reports bills over $10,000 only as “$10,000+”.
The rest of a budget near Ishpeming
Only figures published free for the whole country, each labeled with the area it covers: Michigan, or Michigan. Groceries follow the goods price level; nobody publishes them town by town.
| Cost | Here | Compared with | Area | Source |
|---|---|---|---|---|
| Electricity cents per kWh, homes | 23.1¢ | U.S. 18.3¢ | state | EIA, July 2026 |
Price levels: U.S. Bureau of Economic Analysis, Regional Price Parities 2024 (metro area and state). Electricity: U.S. Energy Information Administration, Electric Power Monthly, table 5.6.A.
Ishpeming vs. its neighbors
Of the 2 towns here with a Zillow value, Ishpeming has the lowest. Ishpeming Township and West Ishpeming and Tilden Township have no Zillow value, so they are in the table only.
Cost next door · one source per column
| Town | Cost | Typical home Zillow, September 2026 | Median value Census 2020–24 | Tax rate bill ÷ value | 2-bed rent HUD 2026 |
|---|---|---|---|---|---|
| Ishpeming | A− | $201K | $112K | 1.51% | $970 |
| Ishpeming Township | A | — | $206K | 0.75% | $1,010 |
| Tilden Township | A | — | $143K | 0.64% | $970 |
| Negaunee | B | $243K | $170K | 1.23% | $970 |
| West Ishpeming | – | — | $194K | 0.70% | $970 |
“—” under Zillow: Zillow publishes no value for that town, so it’s left blank rather than mixed with Census figures. “—” under Cost: not graded (too little Census data, or under 1,000 residents).
Questions about the cost of living in Ishpeming
Is Ishpeming expensive to live in?
Measured against what households in the area earn, Ishpeming costs less than 84% of U.S. towns: an A− for cost of living, #49 of 701 in Michigan. The typical home costs 1.7 years of the median household income of the Marquette, MI micro area ($65K).
How much does a house cost in Ishpeming?
About $201K, Zillow’s typical value for September 2026, up 8.4% in a year. The Michigan typical home is $264K.
What salary do you need to live in Ishpeming?
To buy the typical home with 20% down at 6.3%, about $56,000 a year, keeping the payment (about $1,310 a month with tax and insurance) at 28% of income. To rent a two-bedroom at 30% of income, about $39,000.
How much is rent in Ishpeming?
HUD puts a two-bedroom at about $970 a month with utilities, the going rate for someone moving in. Renters already here pay a median of $733 (Census 2020–24).
What are property taxes in Ishpeming?
The median bill is $1,689 a year, 1.51% of the median home value (Michigan: $2,904, 1.25%), from the Census 2020–24.
Are home prices in Ishpeming going up?
Yes: up 8.4% in the past year and 49.0% in five years, against 24.4% across Michigan (Zillow).
Neighbors talk housing
What Ishpeming buyers, sellers and renters are saying.
Home values: Zillow Home Value Index (ZHVI), Zillow Research, September 2026. Sales, days on market and supply: Redfin Data Center, September 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. The calculator is an estimate, not a loan offer. Regional price levels: BEA; electricity: EIA. How TownRatings grades cost of living.