Housing in Cherry Valley

A typical Cherry Valley home is worth roughly $117,000

Typical home value

$117K

MI $266K

Estimate

2-bedroom rent

$1,000

a month, utilities in · HUD

Median tax bill

$1,138

MI $2,904

What kind of housing town is Cherry Valley?

Read from the numbers below. The page puts what stands out first.

Your money goes further56% below the Michigan typical home.A second-home town51% of homes are seasonal or vacation homes.A town of owners95% of households own their home.

★ What stands out · Affordability

What it takes to buy in Cherry Valley

Try your own numbers below.

You could afford about

$271,000

Typical Cherry Valley home $117K

That covers a typical Cherry Valley home, with $154K to spare.

The typical home, each month

$740

Loan $580Tax $120Insurance $30

A two-bedroom rents for about $1,000 a month here, $260 more than owning.

Where your budget reaches nearby

Pinora$124K Yates$133K Newkirk$111K Webber$109K

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.

The homes

95% of Cherry Valley households own their home

Half of Cherry Valley’s homes were built before 1982.

Owners and renters

Own 95%Rent 6%

Michigan: 73% own.

1982

typical home built · MI 1972

$1,138

median property tax bill · MI $2,904

51%

of homes are seasonal or vacation homes

U.S. Census Bureau, American Community Survey 2020-2024 · figures for a place this size carry wide margins of error.

Renting

A two-bedroom rents for about $1,000

Renters already here pay a median of $794, so moving in tends to cost more than staying put.

Fair Market Rent a month, utilities included

Studio$720

1 bedroom$760

2 bedrooms$1,000

3 bedrooms$1,340

4 bedrooms$1,620

of households rent · MI 27%

renter households

$794

median rent paid today · Census

U.S. Department of Housing and Urban Development, Fair Market Rents by ZIP code (Lake County, MI): the 40th-percentile rent plus utilities for a standard unit. Median rent and renters: U.S. Census Bureau, American Community Survey.

Next door

Cherry Valley vs. its neighbors

Cherry Valley is the 3rd least expensive of 5 neighboring towns. Tap one to see its housing page.

Yates$133K Pinora$124K Cherry Valley$117K Newkirk$111K Webber$109K

Compare more

Town	Typical value	1-yr change	2-bed rent	Median income
Cherry Valley	$117K*	—	$1,000	$53,750
Pinora	$124K*	—	$980	$63,289
Yates	$133K*	—	$980	$30,000
Newkirk	$111K*	—	$1,060	$56,268
Webber	$109K*	+2.4%†	$990	$46,286

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 Cherry Valley buyers, sellers and renters are saying.

Town Square →

Weigh in

Is Cherry Valley still affordable for young families?

Your answer becomes a post in Town Square.

Start the conversation

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. 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.