The story of this market
The typical home in ZIP 49862 sells for about $155,000, or $104 per square foot.
Prices are up +42.1% from a year ago, so sellers still have some momentum. Homes take about 117 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $711 a month.
ZIP 49862 — Munising
The Munising housing market is experiencing a period of high growth in sale prices, driven by limited inventory and strong demand for recreational properties. While sales volume remains low, the significant year-over-year price appreciation reflects a tightening market. Buyers are primarily focused on single-family homes, with the market showing resilience despite broader economic headwinds.
This area is best suited for outdoor enthusiasts, retirees, and those seeking a rural lifestyle, as the market is driven by tourism and proximity to natural amenities rather than corporate employment hubs.
Median prices moved up 42.1% year over year.
Homes spend a median of 117 days on market with 5.2 months of supply — a slower-moving market.
0% of listings have cut prices · homes sell at 98.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 5.5% · poverty 9.0% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 3.4%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 2.6%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
in-migration and out-migration balanced
ZCTA 49862, Alger County MI
ACS 2024 5-year estimates. Aggregate published statistics for this ZIP — never individual records, and never an attribute of any individual property or resident.
Public schools in the area are generally characterized by their rural setting and small class sizes, though specific performance ratings vary by district.
The area is subject to significant winter weather conditions and lake-effect snow, with standard insurance coverage for regional climate risks.
Economic momentum is driven by tourism related to the Pictured Rocks National Lakeshore and local service industries, with limited large-scale industrial development.
Property taxes are assessed at the local level by Alger County and the City of Munising, with rates determined by millage for schools, county services, and municipal operations.
Commuting is primarily by personal vehicle, with limited public transit options available for regional travel.
The area is a major hub for outdoor recreation, featuring immediate access to Pictured Rocks National Lakeshore, Lake Superior, hiking trails, and local parks.
The rental market is heavily influenced by seasonal tourism and short-term rental demand, which creates pressure on year-round housing availability.
The economy is anchored by tourism, government services, and small-scale retail, with significant seasonal fluctuations.
Transportation is dominated by highway access via M-28, serving as the primary corridor for regional connectivity.
Development is focused on small-scale residential and tourism-related infrastructure improvements.
The Alger County Equalization Department oversees property assessments based on state-mandated formulas.
Parcels are subject to local school district millages and county-wide service assessments.
Property insurance premiums are influenced by regional wildfire and severe winter weather risk profiles.
Michigan is a judicial foreclosure state with specific redemption periods for homeowners.
Sellers are required to provide a written disclosure statement regarding the condition of the property.
Data retrieved from data.census.gov for ZCTA 49862.
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.
Major regional attraction featuring cliffs, beaches, and hiking trails.
Provides extensive boating, fishing, and scenic access.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.