Metropolitan Statistical Area (MSA):
The Houghton, MI metropolitan statistical area (MSA) is located in the Upper Peninsula of Michigan. The MSA includes all of Houghton and Keweenaw counties. As of 2010, the population of the MSA was 104,371. The MSA is home to Michigan Technological University and Finlandia University.
The housing market in the Houghton, MI metropolitan statistical area has been strong in recent years. Home prices have increased steadily, and the number of homes sold has also increased. The average sale price of a home in the MSA was $165,000 in 2017, up from $145,000 in 2016. The number of homes sold in the MSA increased from 1,061 in 2016 to 1,087 in 2017.
There are several factors that have contributed to the strong housing market in the Houghton, MI metropolitan statistical area. One factor is that there has been an influx of people moving to the area due to Michigan Technological University and Finlandia University. These schools have brought new jobs and businesses to the area, which has helped to grow the economy and create more demand for housing. Another factor is that there has been an increase in retirees moving to the area due to its scenic beauty and relatively low cost of living. This has also helped to increase demand for housing.
Looking ahead, it is expected that the housing market will continue to be strong in the Houghton, MI metropolitan statistical area as more people move into the region for work or retirement.
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