The Most Affordable Neighborhoods in Big Bay, MI by Home Value

 

Big Bay, MI Map of Most Affordable Neighborhoods
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These days, finding an affordable place to live in the Big Bay area can be challenging. Home prices in Big Bay are now at a median cost of $169,100, lower than the Michigan average of $250,415.

The average cost of rent is $750/mo in Big Bay, primarily driven by the current value of real estate in the Big Bay area. In Big Bay, 9.52% of households rent, and 66.61% of homeowners own their homes outright.

Housing affordability isn’t just about home prices, though. The average household income in Big Bay is $4,096 per month. Households that rent pay about 18.31% of their income on rent here. Big Bay’s most expensive areas are in the central 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.


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