Housing in Torch Lake

A typical Torch Lake home is worth roughly $570,000

Typical home value

$570K

MI $266K

Estimate

2-bedroom rent

$1,500

a month, utilities in · HUD

Median tax bill

$4,094

MI $2,904

What kind of housing town is Torch Lake?

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

Pricier than MI114% above the Michigan typical home.A second-home town51% of homes are seasonal or vacation homes.A town of owners94% of households own their home.

★ What stands out · Affordability

A typical home costs 6.4 years of income

More than across Michigan (3.7 years). Try your own numbers below.

You could afford about

$355,000

Typical Torch Lake home $570K

That’s $215K short of a typical Torch Lake home.

The typical home, each month

$3,330

Loan $2,820Tax $340Insurance $170

A two-bedroom rents for about $1,500 a month here, $1,830 less than owning.

Where your budget reaches nearby

Forest Home$307K Central Lake$352K Milton$528K Banks$249K

An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, Torch Lake’s typical property tax (0.72% 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

94% of Torch Lake households own their home

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

Owners and renters

Own 94%Rent 6%

Michigan: 73% own.

1988

typical home built · MI 1972

$4,094

median property tax bill · MI $2,904

0.72%

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

51%

of homes are seasonal or vacation homes

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

Renting

A two-bedroom rents for about $1,500

Renters already here pay a median of $1,313, so moving in tends to cost more than staying put.

Fair Market Rent a month, utilities included

Studio$1,030

1 bedroom$1,150

2 bedrooms$1,500

3 bedrooms$1,790

4 bedrooms$2,080

of households rent · MI 27%

renter households

41%

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

20%

of the median income, for a two-bedroom

$1,313

median rent paid today · Census

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

Torch Lake vs. its neighbors

Torch Lake is the priciest of 5 neighboring towns. Tap one to see its housing page.

Torch Lake$570K Milton$528K Central Lake$352K Forest Home$307K Banks$249K

Compare more

Town	Typical value	1-yr change	2-bed rent	Median income
Torch Lake	$570K*	—	$1,500	$89,485
Forest Home	$307K*	−2%†	$970	$81,111
Central Lake	$352K	+4.9%	$1,250	$69,891
Milton	$528K*	—	$1,330	$88,971
Banks	$249K*	+25.8%†	$1,240	$71,326

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 Torch Lake buyers, sellers and renters are saying.

Town Square →

Weigh in

Is Torch 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. 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.