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Menominee Area

Learn about the people, housing, costs and businesses in Menominee Area, Michigan

Median Home$284,106
Median Rent$1,267/month
Population107,418
Leading IndustriesArts, Food & Hospitality · Transportation · Manufacturing8% arts, food & hospitality
Home Value Growth⬆⬆+15.0% over 2 years
Young Adults28% of residentsnear the national average
Homeowners69% of occupied units
NotableHighly Educated23% bachelor's · 11% graduate · top 20% nationally
NotableVeteran Community8% of residents · top 27% nationally
Menominee Area
MI

Frequently Asked Questions

What are today's mortgage rates in Menominee Area?

As of today, the 30-year fixed mortgage rate for Menominee Area is approximately 6.921% (6.958% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Menominee Area?

The median home value in Menominee Area is $284k. The median monthly rent is $1,267. Annual property taxes average $3k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Menominee Area?

Home values in Menominee Area have increased 15.0% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Menominee Area?

Based on a typical all-in ownership cost of $1,284/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $55k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Menominee Area is $88k/year.

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What industries drive the economy in Menominee Area?

The largest employment sectors in Menominee Area are public administration (22%) and retail (13%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.