The story of this market
The typical home in ZIP 49895 sells for about $210,000, or $145 per square foot.
Prices are up +3.2% from a year ago, so sellers still have some momentum. Homes take about 88 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $455 a month.
ZIP 49895 — Wetmore
The housing market in 49895 is characterized by low inventory and slow turnover, typical of a rural, seasonal-heavy market. Prices have seen modest appreciation, driven by limited supply rather than high transaction volume. The area remains a niche market for those seeking proximity to natural amenities.
This ZIP is best suited for nature enthusiasts, retirees, and those seeking a quiet, rural lifestyle, as it lacks the density and employment infrastructure required by urban commuters or corporate professionals.
Median prices moved up 3.2% year over year.
Homes spend a median of 88 days on market with 6.5 months of supply — a slower-moving market.
15% 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 0.3% · poverty 14.0% — 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 5.0%/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 3.3%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
in-migration and out-migration balanced
ZCTA 49895, 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.
Crime rates in the Wetmore area are generally low, consistent with the rural character of Alger County and significantly below national averages.
Schools serving the area are part of the Alger County regional system, generally characterized by small class sizes and rural community-focused curricula.
The area faces standard regional risks including heavy winter snowfall and potential forest fire exposure, with flood risks primarily localized to low-lying areas near water bodies.
Economic momentum is driven by tourism, forestry, and local government services, with limited large-scale industrial development.
Property taxes are assessed at the local township level in Alger County, subject to Michigan's Proposal A limitations on taxable value increases.
Commuting is primarily car-dependent, with residents traveling to Munising or other regional hubs for employment.
The area offers extensive access to the Hiawatha National Forest, Pictured Rocks National Lakeshore, and numerous inland lakes for fishing, hiking, and snowmobiling.
The rental market is limited, with high demand for seasonal and short-term vacation rentals due to proximity to national park attractions.
The economy is heavily reliant on tourism, forestry, and public sector employment within Alger County.
Transportation is exclusively via regional highway corridors; no public transit infrastructure exists.
Development is strictly regulated to preserve the rural and natural character of the Upper Peninsula.
Alger County utilizes a standard ad valorem assessment system based on state-equalized values.
Parcels are subject to local school district taxes and county-wide millages for emergency services and infrastructure.
Property insurance premiums are influenced by wildfire risk and severe winter weather exposure.
The state experiences modest net domestic migration, with rural areas like Alger seeing stable but slow population trends.
Michigan is a judicial foreclosure state with specific redemption periods for residential properties.
Michigan law requires sellers to provide a written disclosure statement regarding the condition of the property.
Data retrieved from US Census Bureau ZCTA-level tables.
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.
Extensive public land for outdoor recreation.
Major regional attraction for hiking and sightseeing.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.