Home Price Key
Affordable
Average
Expensive
These days, finding an affordable place to live in the Lake area can be challenging. Home prices in Lake are now at a median cost of $100,430, lower than the Michigan average of $196,062.
The average cost of rent is $668/mo in Lake, primarily driven by the current value of real estate in the Lake area. While nearly 53.85% of residents own their homes outright in Lake, 8.66% rent.
Housing affordability isn’t just about home prices, though. The average household income in Lake is $3,597 per month. Households that rent pay about 18.57% of their income on rent here. Lake's most expensive areas are in the western regions, while the cheapest areas are in the eastern parts of the city.
Nearby Cities
- Moddersville, MI: equally priced homes
- Farwell, MI: equally priced homes
- Lake George, MI: less expensive homes
- Sherman City, MI: equally priced homes
- Sears, MI: higher priced homes
- Weidman, MI: higher priced homes
- Barryton, MI: equally priced homes
- Clare, MI: higher priced homes
- Temple, MI: equally priced homes
- Dover, MI: higher priced homes
Cities with Similar Populations
- Cassatt, SC: equally priced homes
- Mabton, WA: higher priced homes
- Applewood, CO: higher priced homes
- Zolfo Springs, FL: equally priced homes
- Windham, OH: higher priced homes
- Williamson, WV: less expensive homes
- White Haven, PA: higher priced homes
- Weaverville, CA: higher priced homes
- Vienna, OH: higher priced homes
- Tularosa, NM: higher priced homes
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