The Most Affordable Neighborhoods in Canadian Lakes, MI by Home Value

 

Canadian Lakes, MI Map of Most Affordable Neighborhoods
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These days, finding an affordable place to live in the Canadian Lakes area can be challenging. Home prices in Canadian Lakes are now at a median cost of $259,239, higher than the Michigan average of $250,415.

The average cost of rent is $636/mo in Canadian Lakes, primarily driven by the current value of real estate in the Canadian Lakes area. In Canadian Lakes, 9.16% of households rent, and 53.87% of homeowners own their homes outright.

Housing affordability isn’t just about home prices, though. The average household income in Canadian Lakes is $5,974 per month. Households that rent pay about 10.64% of their income on rent here. Canadian Lakes’s most expensive areas are in the southern regions, while the cheapest areas are in the northern 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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