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These days, finding an affordable place to live in the Lake Michigan Beach area can be challenging. Home prices in Lake Michigan Beach are now at a median cost of $262,509, higher than the Michigan average of $250,415.
The average cost of rent is $880/mo in Lake Michigan Beach, primarily driven by the current value of real estate in the Lake Michigan Beach area. In Lake Michigan Beach, 25.75% of households rent, and 46.00% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Lake Michigan Beach is $7,018 per month. Households that rent pay about 12.54% of their income on rent here. Lake Michigan Beach’s most expensive areas are in the southwestern 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.
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Cities with Similar Populations
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