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Caspian, MI
Full City Profile · Michigan · Iron County County
2.7
/5.0
C+
Fair
553
Population
387/sq mi density
$36,750
Median Income
$27,578 per capita
$69,400
Home Value
$101,442 Zillow
$620
Median Rent
32.8% income on rent
39°F
Avg Temperature
249 sunny days/yr
205
Violent Crime/100K
4,162 property/100K
C+
Overall
2.7 / 5.0
Fair overall score based on economy, affordability, safety and education
C
Economy
2.4 / 5.0
$36,750 median income, 4.1% unemployment
A+
Affordability
5.0 / 5.0
$69,400 home value, $620/mo rent
F
Safety
1.0 / 5.0
205 violent crimes/100K
C
Education
2.3 / 5.0
15.7% bachelor's degree or higher
Housing Overview
Median Home Value
$69,400
75% below
US avg: $281,900
Median Rent
$620/mo
47% below
US avg: $1,163/mo
Homeownership Rate
71.6%
9% above US avg (65.4%)
Total Housing Units
378
Median year built: 1949
Home Value by Source
Census Median
$69,400
Zillow (ZHVI)
$101,442
Census ACS, Zillow ZHVI, Redfin median sale price
Ownership vs. Renting
71.6%
Owner-Occupied
28.4%
Renter-Occupied
US avg: 65.4% owner-occupied
Fair Market Rents (HUD FY2026)
Studio
$807/mo
1 Bedroom
$891/mo
2 Bedroom
$1,113/mo
3 Bedroom
$1,419/mo
4 Bedroom
$1,588/mo
Census median rent:
$620/mo
Affordability & Housing Stock
Rent Burden
32.8%
of renters spending 30%+ of income on housing
6% above US avg (31.0%)
Median Year Built
1949
Average age of housing stock: 77 years
Homeownership Rate
71.6%
Complete Housing Data
Home Values
| Census Median Value | $69,400 |
| Zillow Home Value (ZHVI) | $101,442 |
Rent
| Census Median Rent | $620 |
| FMR Studio | $807 |
| FMR 1-Bedroom | $891 |
| FMR 2-Bedroom | $1,113 |
| FMR 3-Bedroom | $1,419 |
| FMR 4-Bedroom | $1,588 |
Market
Ownership & Stock
| Owner-Occupied | 71.6% |
| Renter-Occupied | 28.4% |
| Homeownership Rate | 71.6% |
| Total Housing Units | 378 |
| Median Year Built | 1949 |
| Rent Burden | 32.8% |