Home Price Key
Affordable
Average
Expensive
These days, finding an affordable place to live in the Elo area can be challenging. Home prices in Elo are now at a median cost of $154,306, lower than the Michigan average of $196,062.
The average cost of rent is $767/mo in Elo, primarily driven by the current value of real estate in the Elo area. While nearly 50.59% of residents own their homes outright in Elo, 14.55% rent.
Housing affordability isn’t just about home prices, though. The average household income in Elo is $5,352 per month. Households that rent pay about 14.33% of their income on rent here. Elo's most expensive areas are in the central regions, while the cheapest areas are in the northern parts of the city.
Nearby Cities
- Arnheim, MI: less expensive homes
- Tapiola, MI: equally priced homes
- Pelkie, MI: less expensive homes
- Keweenaw Bay, MI: less expensive homes
- Klingville, MI: equally priced homes
- Twin Lakes, MI: equally priced homes
- Baraga, MI: less expensive homes
- Chassell, MI: equally priced homes
- White, MI: less expensive homes
- Painesdale, MI: less expensive homes
Cities with Similar Populations
- Cortland, IN: higher priced homes
- Windham, VT: higher priced homes
- Collingwood Park, NJ: higher priced homes
- Coloma, MO: less expensive homes
- Columbia Center, NY: less expensive homes
- Columbia Heights, LA: less expensive homes
- Wilmore, KS: less expensive homes
- Willisville, AR: less expensive homes
- Willis Wharf, VA: less expensive homes
- Williana, LA: less expensive homes
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