Home Price Key
Affordable
Average
Expensive
These days, finding an affordable place to live in the Torch River area can be challenging. Home prices in Torch River are now at a median cost of $307,092, higher than the Michigan average of $196,062.
The average cost of rent is $1,117/mo in Torch River, primarily driven by the current value of real estate in the Torch River area. While nearly 43.73% of residents own their homes outright in Torch River, 5.06% rent.
Housing affordability isn’t just about home prices, though. The average household income in Torch River is $7,240 per month. Households that rent pay about 15.43% of their income on rent here. Torch River's most expensive areas are in the northern regions, while the cheapest areas are in the eastern parts of the city.
Nearby Cities
- Rapid City, MI: less expensive homes
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- Clam River, MI: less expensive homes
- Elk Rapids, MI: equally priced homes
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- Yuba, MI: higher priced homes
- Bates, MI: less expensive homes
- North Arms, MI: less expensive homes
- Kewadin, MI: higher priced homes
- Bellaire, MI: less expensive homes
Cities with Similar Populations
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- Cash Corner, ME: higher priced homes
- Cary, ME: less expensive homes
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