A typical Lake home is worth roughly $650,000
What kind of housing town is Lake?
Read from the numbers below. The page puts what stands out first.
A typical home costs 6.6 years of income
More than across Michigan (3.7 years). Try your own numbers below.
That’s $256K short of a typical Lake home.
A two-bedroom rents for about $1,160 a month here, $2,610 less than owning.
An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, Lake’s typical property tax (0.67% of value a year, from the Census) and insurance of about 0.35%. Mortgage insurance, HOA fees and other debts aren’t included.
97% of Lake households own their home
Half of Lake’s homes were built before 1978.
Michigan: 73% own.
U.S. Census Bureau, American Community Survey 2020-2024 · figures for a place this size carry wide margins of error.
A two-bedroom rents for about $1,160
Fair Market Rent a month, utilities included
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.
Lake vs. its neighbors
Lake is the priciest of 3 neighboring towns. Tap one to see its housing page.
Compare more
| Town | Typical value | 1-yr change | 2-bed rent | Median income |
|---|---|---|---|---|
| Lake | $650K* | — | $1,160 | $98,125 |
| Crystal Downs Country Club | — | +6.8%† | $1,110 | $243,333 |
| Benzonia | $335K | +5.8% | $1,040 | $72,500 |
| Crystal Lake | $349K* | +6.8%† | $1,110 | $69,913 |
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.
On the market in Lake
Listed in the past 60 days. Each opens on the listing site.
Neighbors talk housing
What 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. 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.