Home Price Key
Affordable
Average
Expensive
These days, finding an affordable place to live in the Tower area can be challenging. Home prices in Tower are now at a median cost of $107,340, lower than the Michigan average of $196,062.
The average cost of rent is $556/mo in Tower, primarily driven by the current value of real estate in the Tower area. While nearly 60.20% of residents own their homes outright in Tower, 15.38% rent.
Housing affordability isn’t just about home prices, though. The average household income in Tower is $4,574 per month. Households that rent pay about 12.15% of their income on rent here. Tower's most expensive areas are in the southern regions, while the cheapest areas are in the northwestern parts of the city.
Nearby Cities
- Onaway, MI: equally priced homes
- Coddes Beach, MI: higher priced homes
- Afton, MI: higher priced homes
- Ocqueoc, MI: equally priced homes
- Canada Creek Ranch, MI: higher priced homes
- Millersburg, MI: higher priced homes
- Wolverine, MI: higher priced homes
- Indian River, MI: higher priced homes
- Alverno, MI: higher priced homes
- Topinabee, MI: higher priced homes
Cities with Similar Populations
- Butler, TX: higher priced homes
- Coleta, IL: equally priced homes
- Carter, OK: higher priced homes
- Carroll, NE: higher priced homes
- Carmel, LA: less expensive homes
- Capps, AL: equally priced homes
- Cameron Mills, NY: equally priced homes
- Camden, WV: less expensive homes
- Camden, MS: less expensive homes
- Callaway, MN: higher priced homes
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