Housing in Elm River

A typical Elm River home is worth roughly $254,000

Typical home value

$254K

MI $266K

Estimate

2-bedroom rent

$970

a month, utilities in · HUD

Median tax bill

$2,568

MI $2,904

What kind of housing town is Elm River?

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

A second-home town54% of homes are seasonal or vacation homes.A town of owners96% of households own their home.

★ What stands out · The homes

96% of Elm River households own their home

Half of Elm River’s homes were built before 1965.

Owners and renters

Own 96%Rent 5%

Michigan: 73% own.

1965

typical home built · MI 1972

$2,568

median property tax bill · MI $2,904

54%

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.

Affordability

What it takes to buy in Elm River

Try your own numbers below.

You could afford about

$271,000

Typical Elm River home $254K

That covers a typical Elm River home, with $17K to spare.

The typical home, each month

$1,590

Loan $1,260Tax $260Insurance $70

A two-bedroom rents for about $970 a month here, $620 less than owning.

Where your budget reaches nearby

Portage$205K Stanton$254K Adams$118K

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.

Renting

A two-bedroom rents for about $970

Fair Market Rent a month, utilities included

Studio$790

1 bedroom$800

2 bedrooms$970

3 bedrooms$1,350

4 bedrooms$1,640

of households rent · MI 27%

renter households

U.S. Department of Housing and Urban Development, Fair Market Rents by ZIP code (Houghton 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

Elm River vs. its neighbors

Elm River is the 2nd priciest of 4 neighboring towns. Tap one to see its housing page.

Stanton$254K Elm River$254K Portage$205K Adams$118K

Compare more

Town	Typical value	1-yr change	2-bed rent	New homes 2008	Median income
Elm River	$254K*	—	$970	—	$78,929
Portage	$205K*	−1.1%†	$1,020	—	$66,652
Stanton	$254K*	+1.6%†	$1,060	0	$85,800
Adams	$118K*	+0.4%†	$1,060	—	$63,914

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 Elm River buyers, sellers and renters are saying.

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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.