Home Price Key
Affordable
Average
Expensive
These days, finding an affordable place to live in the Otter Lake area can be challenging. Home prices in Otter Lake are now at a median cost of $139,259, lower than the Michigan average of $196,062.
The average cost of rent is $1,301/mo in Otter Lake, primarily driven by the current value of real estate in the Otter Lake area. While nearly 42.15% of residents own their homes outright in Otter Lake, 8.95% rent.
Housing affordability isn’t just about home prices, though. The average household income in Otter Lake is $5,384 per month. Households that rent pay about 24.17% of their income on rent here. Otter Lake's most expensive areas are in the western regions, while the cheapest areas are in the northwestern parts of the city.
Nearby Cities
- Fostoria, MI: less expensive homes
- Columbiaville, MI: higher priced homes
- Otisville, MI: higher priced homes
- Barnes Lake-Millers Lake, MI: higher priced homes
- Millington, MI: equally priced homes
- Mayville, MI: less expensive homes
- Richfield Center, MI: higher priced homes
- Five Lakes, MI: higher priced homes
- Silverwood, MI: equally priced homes
- North Branch, MI: higher priced homes
Cities with Similar Populations
- Britton, MI: higher priced homes
- Brodheadsville, PA: higher priced homes
- Center Conway, NH: higher priced homes
- Claypool, IN: higher priced homes
- Diamond, IL: higher priced homes
- Mendon, MI: equally priced homes
- Keymar, MD: higher priced homes
- Mesick, MI: less expensive homes
- Midland, VA: higher priced homes
- Millerton, NY: higher priced homes
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