Housing costs in Elk Rapids?
A typical home costs
$431,200, which is 27.5% more expensive than the national average of
$338,100 and 97.2% more expensive than the average Michigan home, at
$218,700. Renting a two-bedroom unit in Elk Rapids costs
$840 per month, which is 41.3% cheaper than the national average of
$1,430 and 31.0% cheaper than the state average of
$1,100.
Can I afford Elk Rapids?
To live comfortably in Elk Rapids, Michigan, a minimum annual income of
$82,800 for a family, and
$28,800 for a single person is recommended.
What does A.I. say about Elk Rapids?
The cost of living in Elk Rapids, MI is quite affordable. The average rent for a one-bedroom apartment is around $750 per month, while the median home value is around $250,000. The overall cost of living in Elk Rapids is 7% lower than the national average. Food and transportation costs are also affordable compared to other areas in Michigan. Overall, the cost of living in Elk Rapids is attractive and reasonable for those looking for an affordable place to live.