Housing in Green Lake

A typical Green Lake home is worth roughly $346,000

Home prices around Green Lake have risen about 70% over the past 5 years.

#78Fastest-rising home prices in MI #92Vacation-home towns in MI All MI rankings →

Typical home value

$346K

▲ 4% in a year · MI $266K

Estimate

2-bedroom rent

$1,360

a month, utilities in · HUD

Median tax bill

$2,328

MI $2,904

What kind of housing town is Green Lake?

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

Pricier than MI30% above the Michigan typical home.A town of owners89% of households own their home.

★ What stands out · Affordability

A typical home costs 3.7 years of income

About the same as across Michigan. Try your own numbers below.

You could afford about

$367,000

Typical Green Lake home $346K

That covers a typical Green Lake home, with $21K to spare.

The typical home, each month

$2,050

Loan $1,720Tax $230Insurance $100

A two-bedroom rents for about $1,360 a month here, $690 less than owning.

Where your budget reaches nearby

Long Lake$411K Grant$261K Inland$264K Blair$275K Grawn$344K Colfax$166K

How Green Lake ranks on affordability →

An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, Green Lake’s typical property tax (0.80% 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

89% of Green Lake households own their home

Half of Green Lake’s homes were built before 1988.

Owners and renters

Own 89%Rent 12%

Michigan: 73% own.

1988

typical home built · MI 1972

$2,328

median property tax bill · MI $2,904

0.80%

of a home’s value, a year in tax · MI 1.25%

15%

of homes are seasonal or vacation homes

U.S. Census Bureau, American Community Survey 2020-2024.

Price trend

Home prices up 70% in 5 years

The federal house price index for the ZIP codes around Green Lake rose 70% over the past 5 years, faster than across Michigan (52%). Last year prices rose 4%. Carrying the Census median home value forward with that index puts the typical Green Lake home at roughly $346,000 today.

Green Lake areaMichigan

+4%

past year

+70%

past 5 years

+141%

past 10 years

Estimated value

Carrying the Census median forward with the index puts a typical home at about $346K.

How Green Lake ranks on rising home prices →

Federal Housing Finance Agency House Price Index (annual) for the ZIP codes around Green Lake, weighted by land area. It tracks repeat sales of the same homes, so it shows how prices changed, not what homes cost.

Renting

A two-bedroom rents for about $1,360

Fair Market Rent a month, utilities included

Studio$1,100

1 bedroom$1,120

2 bedrooms$1,360

3 bedrooms$1,760

4 bedrooms$1,840

12%

of households rent · MI 27%

280

renter households

of renters spend 30%+ of income on rent · MI 50%

18%

of the median income, for a two-bedroom

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

Next door

Green Lake vs. its neighbors

Green Lake is the 2nd priciest of 7 neighboring towns. Tap one to see its housing page.

Long Lake$411K Green Lake$346K Grawn$344K Blair$275K Inland$264K Grant$261K Colfax$166K

Compare more

Town	Typical value	1-yr change	2-bed rent	Median income
Green Lake	$346K*	+4%†	$1,360	$92,784
Long Lake	$411K*	+2.5%†	$1,470	$96,220
Grant	$261K*	+8.9%†	$1,270	$81,250
Inland	$264K*	+3.6%†	$1,280	$80,759
Blair	$275K*	+6.2%†	$1,400	$71,582
Grawn	$344K	+3.8%	$1,400	$57,908
Bendon	—	+0.2%†	$1,320	$69,750
Colfax	$166K*	+26.5%†	$1,230	$60,250

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 Green Lake buyers, sellers and renters are saying.

Town Square →

Weigh in

Is Green Lake 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. 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.