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These days, finding an affordable place to live in the Beaver Island area can be challenging. Home prices in Beaver Island are now at a median cost of $362,067, higher than the Michigan average of $250,415.
The average cost of rent is $876/mo in Beaver Island, primarily driven by the current value of real estate in the Beaver Island area. In Beaver Island, 7.01% of households rent, and 53.03% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Beaver Island is $6,348 per month. Households that rent pay about 13.80% of their income on rent here. Beaver Island’s most expensive areas are in the southwestern 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
- St. James, MI: equally priced homes
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Cities with Similar Populations
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- Soboba Hot Springs, CA: equally priced homes
- Unionville, PA: less expensive homes
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