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Affordable
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These days, finding an affordable place to live in the Bear Lake area can be challenging. Home prices in Bear Lake are now at a median cost of $207,243, lower than the Michigan average of $250,415.
The average cost of rent is $955/mo in Bear Lake, primarily driven by the current value of real estate in the Bear Lake area. In Bear Lake, 6.37% of households rent, and 47.44% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Bear Lake is $5,653 per month. Households that rent pay about 16.90% of their income on rent here. Bear Lake’s most expensive areas are in the southern regions, while the cheapest areas are in the central parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Pierport, MI: higher priced homes
- Onekama, MI: higher priced homes
- Arcadia, MI: higher priced homes
- Norwalk, MI: higher priced homes
- Kaleva, MI: less expensive homes
- Red Park, MI: equally priced homes
- Filer City, MI: higher priced homes
- Watervale, MI: higher priced homes
- Newland, MI: equally priced homes
- Brethren, MI: less expensive homes
Cities with Similar Populations
- Bayou Gauche, LA: higher priced homes
- Axson, GA: less expensive homes
- Erie, IL: less expensive homes
- New Melle, MO: higher priced homes
- Hinsdale, MA: higher priced homes
- Houlton, WI: higher priced homes
- Hyden, KY: less expensive homes
- Inyokern, CA: higher priced homes
- Ironton, MO: less expensive homes
- La Plata, MO: less expensive homes
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