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Omena

Learn about the people, housing, costs and businesses in Omena, Michigan

Median Home$566,500
Median Rent$1,058/month
Population310
Leading IndustriesManufacturing · Education · Arts, Food & Hospitality2% manufacturing
Home Value Growth⬆⬆⬆+93.3% over 2 years
Retirees36% of residentstop 3% nationally
Homeowners97% of occupied units
NotableTransit85/100 · excellent transit access
NotableHigh Incomes$119k/year · top 9% nationally
Omena
MI

Frequently Asked Questions

What are today's mortgage rates in Omena?

As of today, the 30-year fixed mortgage rate for Omena is approximately 7.046% (7.087% 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 Omena?

The median home value in Omena is $567k. The median monthly rent is $1,058. Annual property taxes average $4k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Omena?

Home values in Omena have increased 93.3% 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 Omena?

Based on a typical all-in ownership cost of $1,253/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $54k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Omena is $119k/year.

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What industries drive the economy in Omena?

The largest employment sectors in Omena are public administration (19%) and wholesale trade (10%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.