Home Price Key
Affordable
Average
Expensive
These days, finding an affordable place to live in the Mormon Lake area can be challenging. Home prices in Mormon Lake are now at a median cost of $196,100, lower than the Arizona average of $274,828.
The average cost of rent is $613/mo in Mormon Lake, primarily driven by the current value of real estate in the Mormon Lake area. While nearly 88.00% of residents own their homes outright in Mormon Lake, 44.44% rent.
Housing affordability isn’t just about home prices, though. The average household income in Mormon Lake is $6,073 per month. Households that rent pay about 10.09% of their income on rent here. Mormon Lake's most expensive areas are in the western regions, while the cheapest areas are in the northeastern parts of the city.
Nearby Cities
- Munds Park, AZ: higher priced homes
- Mountainaire, AZ: higher priced homes
- Sedona, AZ: higher priced homes
- West Sedona, AZ: higher priced homes
- Tapco, AZ: higher priced homes
- Winslow, AZ: less expensive homes
- Paulden, AZ: higher priced homes
- Joseph City, AZ: less expensive homes
- Del Rio, AZ: higher priced homes
- Holbrook, AZ: less expensive homes
Cities with Similar Populations
- Wizard Wells, TX: equally priced homes
- Leisure, IN: less expensive homes
- Leisure, KY: less expensive homes
- Lela, TX: less expensive homes
- Wyman, IA: less expensive homes
- Lick Mountain, AR: less expensive homes
- Lincoln, OR: higher priced homes
- Linn, MS: less expensive homes
- Liske, MI: less expensive homes
- Litchfield Plains, ME: higher priced homes
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