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These days, finding an affordable place to live in the Chippewa Lake area can be challenging. Home prices in Chippewa Lake are now at a median cost of $180,040, lower than the Michigan average of $250,415.
The average cost of rent is $798/mo in Chippewa Lake, primarily driven by the current value of real estate in the Chippewa Lake area. In Chippewa Lake, 11.62% of households rent, and 63.00% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Chippewa Lake is $4,914 per month. Households that rent pay about 16.23% of their income on rent here. Chippewa Lake’s most expensive areas are in the southwestern regions, while the cheapest areas are in the eastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
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Cities with Similar Populations
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- Palmer, NE: higher priced homes
- Paint Rock, TN: higher priced homes
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