Home Price Key
Affordable
Average
Expensive
These days, finding an affordable place to live in the Elk Rapids area can be challenging. Home prices in Elk Rapids are now at a median cost of $279,541, higher than the Michigan average of $196,062.
The average cost of rent is $881/mo in Elk Rapids, primarily driven by the current value of real estate in the Elk Rapids area. While nearly 42.79% of residents own their homes outright in Elk Rapids, 19.69% rent.
Housing affordability isn’t just about home prices, though. The average household income in Elk Rapids is $5,961 per month. Households that rent pay about 14.77% of their income on rent here. Elk Rapids's most expensive areas are in the western regions, while the cheapest areas are in the southeastern parts of the city.
Nearby Cities
- Clam River, MI: equally priced homes
- Yuba, MI: higher priced homes
- Old Mission, MI: higher priced homes
- Torch River, MI: higher priced homes
- Kewadin, MI: higher priced homes
- Rapid City, MI: less expensive homes
- Williamsburg, MI: equally priced homes
- Alden, MI: less expensive homes
- Bates, MI: less expensive homes
- North Arms, MI: less expensive homes
Cities with Similar Populations
- Bayou Gauche, LA: equally priced homes
- Bellport, NY: higher priced homes
- Bermuda Run, NC: equally priced homes
- Bloomington, TX: less expensive homes
- Bovina, TX: less expensive homes
- Bowersville, GA: less expensive homes
- Brewster, OH: less expensive homes
- Sun Valley, ID: higher priced homes
- Calhoun City, MS: less expensive homes
- Stuart, IA: less expensive homes
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