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Affordable
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These days, finding an affordable place to live in the Houghton Lake area can be challenging. Home prices in Houghton Lake are now at a median cost of $154,572, lower than the Michigan average of $250,415.
The average cost of rent is $842/mo in Houghton Lake, primarily driven by the current value of real estate in the Houghton Lake area. In Houghton Lake, 15.85% of households rent, and 53.65% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Houghton Lake is $4,724 per month. Households that rent pay about 17.83% of their income on rent here. Houghton Lake’s most expensive areas are in the northern 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
- Houghton Lake Heights, MI: equally priced homes
- Prudenville, MI: higher priced homes
- Houghton Point, MI: higher priced homes
- Meads Landing, MI: higher priced homes
- Merritt, MI: equally priced homes
- Higgins Lake, MI: higher priced homes
- Roscommon, MI: higher priced homes
- Prosper, MI: equally priced homes
- Falmouth, MI: equally priced homes
- St. Helen, MI: less expensive homes
Cities with Similar Populations
- Smiths, AL: higher priced homes
- Shelbyville, IL: less expensive homes
- Sheldon, IA: higher priced homes
- Shepherd, TX: higher priced homes
- Silver Creek, GA: higher priced homes
- Silverthorne, CO: higher priced homes
- Simsbury, CT: higher priced homes
- Sisters, OR: higher priced homes
- Skaneateles, NY: higher priced homes
- Skillman, NJ: higher priced homes
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