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Affordable
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These days, finding an affordable place to live in the Walloon Lake area can be challenging. Home prices in Walloon Lake are now at a median cost of $266,125, higher than the Michigan average of $250,415.
The average cost of rent is $965/mo in Walloon Lake, primarily driven by the current value of real estate in the Walloon Lake area. In Walloon Lake, 8.03% of households rent, and 37.33% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Walloon Lake is $7,824 per month. Households that rent pay about 12.34% of their income on rent here. Walloon Lake’s most expensive areas are in the northwestern regions, while the cheapest areas are in the central parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Clarion, MI: higher priced homes
- Boyne City, MI: higher priced homes
- Boyne Falls, MI: equally priced homes
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- Zenith Heights, MI: higher priced homes
- Petoskey, MI: higher priced homes
- Horton Bay, MI: higher priced homes
- Epsilon, MI: equally priced homes
- Bay Shore, MI: higher priced homes
- Conway, MI: equally priced homes
Cities with Similar Populations
- Knighthood Village, IN: equally priced homes
- Rock Falls, IA: less expensive homes
- Rock Bluff, FL: less expensive homes
- Lu Verne, IA: less expensive homes
- Lovelace, TX: less expensive homes
- Lakeway, AR: less expensive homes
- Lakeside Village, OK: higher priced homes
- Lake Park, IN: less expensive homes
- Lake City, TX: less expensive homes
- Lake City, SD: less expensive homes
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