A typical Blue Lake home is worth roughly $342,000
Home prices around Blue Lake have risen about 93% over the past 5 years.
What kind of housing town is Blue Lake?
Read from the numbers below. The page puts what stands out first.
Home prices up 93% in 5 years
The federal house price index for the ZIP codes around Blue Lake rose 93% over the past 5 years, faster than across Michigan (52%). Last year prices rose 18%.
Federal Housing Finance Agency House Price Index (annual) for the ZIP codes around Blue Lake, weighted by land area. It tracks repeat sales of the same homes, so it shows how prices changed, not what homes cost.
95% of Blue Lake households own their home
Half of Blue Lake’s homes were built before 1970.
Michigan: 73% own.
U.S. Census Bureau, American Community Survey 2020-2024 · figures for a place this size carry wide margins of error.
What it takes to buy in Blue Lake
Try your own numbers below.
That’s $71K short of a typical Blue Lake home.
A two-bedroom rents for about $1,010 a month here, $1,140 less than owning.
An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, the Michigan typical property tax (1.25% of value a year, from the Census) and insurance of about 0.35%. Mortgage insurance, HOA fees and other debts aren’t included.
A two-bedroom rents for about $1,010
Fair Market Rent a month, utilities included
U.S. Department of Housing and Urban Development, Fair Market Rents by ZIP code (Kalkaska County, MI HUD Metro FMR Area): the 40th-percentile rent plus utilities for a standard unit. Median rent and renters: U.S. Census Bureau, American Community Survey.
Blue Lake vs. its neighbors
Blue Lake is the priciest of 5 neighboring towns. Tap one to see its housing page.
Compare more
| Town | Typical value | 1-yr change | 2-bed rent | New homes 2025 | Median income |
|---|---|---|---|---|---|
| Blue Lake | $342K* | +18.4%† | $1,010 | — | $68,750 |
| Coldsprings | $189K* | +10.6%† | $1,080 | — | $61,198 |
| Bear Lake | $189K* | +19.8%† | $1,010 | — | $68,889 |
| Mancelona | $210K | +1% | $1,130 | — | $65,412 |
| Frederic | $204K | +7.2% | $1,030 | 1 | $65,333 |
Typical value: Zillow Home Value Index; * Census median home value where Zillow has none. † FHFA price index change where Zillow has none. Rent: HUD Fair Market Rent. New homes: Census building permits.
Neighbors talk housing
What Blue Lake buyers, sellers and renters are saying.
Your answer becomes a post in Town Square.
Home values: Zillow Home Value Index (ZHVI), Zillow Research. Sales, days on market and supply: Redfin Data Center. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. Price trend: Federal Housing Finance Agency House Price Index. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers. The calculator is an estimate, not a loan offer.