Loretto, MI

Loretto is a small town located in the Upper Peninsula of Michigan. The population is just over 1,000 people and it has a very small commercial district. The majority of the population is made up of farmers and other rural residents. There are a few businesses in the town that cater to tourists, but they are not very significant. The primary economic driver for Loretto is agriculture.

The real estate market in Loretto is very limited due to its size and location. There are only a handful of homes available for sale, and most of them are priced at well over $100,000. This makes it difficult for people who want to buy or sell property in Loretto. The average home price in the town was $128,000 as of 2016.

There is not much demand for housing in Loretto because there are not many people who can afford to live there. Most people who live there commute to larger cities like Marquette or Sault Ste Marie because they have better job opportunities. Because of this, the vacancy rate in Loretto is extremely low - only 2% as of 2016. This means that competition for properties is fierce, which makes it difficult for buyers to find a good deal on an apartment or house.