Lake, MI housing market
Home prices around Lake have risen about 76% over the past 5 years.
Home values, sales, trends and how Lake compares with the towns next door — updated as new data is published.
Home prices up 76% in 5 years
The federal house price index for the ZIP codes around Lake rose 76% over the past 5 years, faster than across Michigan (52%). Last year prices rose 2.4%.
Show as a table
| Year | Change that year | Since 2001 | Michigan since 2001 |
|---|---|---|---|
| 2025 | +2.4% | +118% | +87% |
| 2024 | +9% | +113% | +79% |
| 2023 | +22% | +95% | +68% |
| 2022 | +16% | +60% | +56% |
| 2021 | +12% | +38% | +38% |
| 2020 | +2.5% | +23% | +24% |
| 2019 | +8.2% | +20% | +20% |
| 2018 | +2.5% | +11% | +14% |
| 2017 | +11% | +8.6% | +7.1% |
| 2016 | +5.7% | −1.8% | +0.3% |
| 2015 | −4.9% | −7.1% | −4.8% |
| 2014 | +6.2% | −2.2% | −9.3% |
| 2013 | −0.2% | −8% | −16% |
| 2012 | −0.1% | −7.8% | −20% |
| 2011 | −3.7% | −7.7% | −20% |
| 2010 | −9.7% | −4.1% | −17% |
| 2009 | −7.2% | +6.2% | −9.5% |
| 2008 | +3.6% | +14% | −1.5% |
| 2007 | +4.4% | +10% | +5.9% |
| 2006 | −8% | +5.8% | +11% |
| 2005 | +10% | +15% | +12% |
| 2004 | +0.8% | +4.6% | +8.5% |
| 2003 | +1.5% | +3.7% | +5.1% |
| 2002 | +2.2% | +2.2% | +3.1% |
| 2001 | — | — | — |
Federal Housing Finance Agency House Price Index (annual, developmental) for ZIP codes 49304, 49402, covering 60% of Lake’s land, weighted by land area. It tracks repeat sales and appraisals of the same homes, so it shows how prices changed, not what homes cost.
Lake and its neighbors
| Town | 1-yr change | 2-bed rent | Median income |
|---|---|---|---|
| Lake | +2.4%† | $1,000 | $52,008 |
| Pleasant Plains | +2.4%† | $990 | $33,269 |
| Troy | +8.8%† | $980 | $46,250 |
† FHFA price index change, where Zillow has no home value for the town.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024 · figures for a place this size carry wide margins of error.
A two-bedroom rents for about $1,000
HUD's Fair Market Rent for a two-bedroom in Lake is $1,000 a month, utilities included: roughly what a modest, recently rented unit costs.
Studio $710 · 4 bedrooms $1,590
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (49304, 49402; Lake County, MI), weighted by land area. A Fair Market Rent is the 40th-percentile rent plus utilities for a standard unit. Median rent: U.S. Census Bureau, American Community Survey.
Recent listings in Lake
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.