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Pellston

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

Median Home$185,700
Median Rent$1,042/month
Population814
Leading IndustriesArts, Food & Hospitality · Healthcare · Professional Services19% arts, food & hospitality
Home Value Growth⬆⬆⬆+24.6% over 2 years
Retirees22% of residentsnear the national average
Homeowners82% of occupied units
NotableTransit89/100 · excellent transit access
NotableHighly Educated28% bachelor's · 22% graduate · top 12% nationally
Pellston
MI

Frequently Asked Questions

What are today's mortgage rates in Pellston?

As of today, the 30-year fixed mortgage rate for Pellston is approximately 6.814% (6.847% 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 Pellston?

The median home value in Pellston is $186k. The median monthly rent is $1,042. Annual property taxes average $2k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Pellston?

Home values in Pellston have increased 24.6% 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 Pellston?

Based on a typical all-in ownership cost of $1,046/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $45k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Pellston is $63k/year.

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What industries drive the economy in Pellston?

The largest employment sectors in Pellston are public administration (24%) and healthcare (20%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.