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Affordable
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These days, finding an affordable place to live in the New Lothrop area can be challenging. Home prices in New Lothrop are now at a median cost of $222,788, lower than the Michigan average of $250,415.
The average cost of rent is $737/mo in New Lothrop, primarily driven by the current value of real estate in the New Lothrop area. In New Lothrop, 14.54% of households rent, and 48.64% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in New Lothrop is $6,765 per month. Households that rent pay about 10.89% of their income on rent here. New Lothrop’s most expensive areas are in the southwestern regions, while the cheapest areas are in the eastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Taymouth, MI: less expensive homes
- Easton, MI: less expensive homes
- Montrose, MI: less expensive homes
- Juddville, MI: less expensive homes
- Luce, MI: less expensive homes
- Chesaning, MI: less expensive homes
- Burt, MI: less expensive homes
- Flushing, MI: equally priced homes
- Kerby, MI: less expensive homes
- Morseville, MI: equally priced homes
Cities with Similar Populations
- Casselton, ND: higher priced homes
- Buchanan, NY: higher priced homes
- Bonduel, WI: equally priced homes
- Morrice, MI: less expensive homes
- Orchard City, CO: higher priced homes
- Onamia, MN: higher priced homes
- New Milford, PA: less expensive homes
- Mountain Lake, MN: less expensive homes
- Mount Sterling, IL: less expensive homes
- Rehobeth, AL: equally priced homes
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