635 N 5th St
635 N 5th St,
Ishpeming, MI 49849
3 Beds | $850
Rental Market Trends in Ishpeming, MI
What is the average rent in Ishpeming, MI?
$718/month
Average Rent
596 Sq Ft
Average Apartment Size
+0.3%
Increase in the Last Year
As of July 2025, the average rent in Ishpeming, MI is $718 per month. This is 56% lower than the national average rent of $1,637/month, making renting in Ishpeming more affordable than most cities in the US. When you rent an apartment in Ishpeming, you can expect to pay about per month for a studio, $718 for a one-bedroom apartment, and around $1,194 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay or more.
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
How much has average rent changed in Ishpeming, MI?
In the past year, rent has increased by 0.3%, which averages out to $3 more per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated July 2025
Legend
2024
2025
Rent Ranges in Ishpeming, MI
Last Updated July 2025
Below $701
Most rental prices fall within this range
Percentage*
Rent Range
33%
Below $700/month
33%
$700 - $1,000/month
0%
$1,001 - $1,500/month
33%
$1,501 - $2,000/month
0%
Above $2,000/month
What salary do I need to live comfortably in Ishpeming, MI?
Because the average rent in Ishpeming is $718, you’ll want to make about $2,393 per month or $28,716 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
Cost of Living
The cost of living in Ishpeming, MI is 3.7% higher than the national average. Generally, housing in Ishpeming is 8.3% more expensive than the national average, with rent falling between $0 - $1,194. You can expect to pay 15.5% more for groceries, 0.6% less for utilities, and 26.9% more for transportation.
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Methodology
† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in June 2025.
* Percentages may not total 100 due to rounding.