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These days, finding an affordable place to live in the Central Lake area can be challenging. Home prices in Central Lake are now at a median cost of $233,004, lower than the Michigan average of $250,415.
The average cost of rent is $1,016/mo in Central Lake, primarily driven by the current value of real estate in the Central Lake area. In Central Lake, 12.26% of households rent, and 49.26% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Central Lake is $5,745 per month. Households that rent pay about 17.69% of their income on rent here. Central Lake’s most expensive areas are in the northwestern 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
- Eastport, MI: higher priced homes
- Pleasant Valley, MI: equally priced homes
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- Bellaire, MI: higher priced homes
- East Jordan, MI: equally priced homes
- Clam River, MI: higher priced homes
- Green River, MI: less expensive homes
- Norwood, MI: higher priced homes
Cities with Similar Populations
- Syracuse, NE: equally priced homes
- Harleton, TX: less expensive homes
- Hawi, HI: higher priced homes
- Inkom, ID: higher priced homes
- Irvington, KY: less expensive homes
- Kemmerer, WY: less expensive homes
- Lonaconing, MD: less expensive homes
- McClellanville, SC: higher priced homes
- Petrieville, MI: equally priced homes
- Platte, SD: equally priced homes
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