Housing costs in Otter Lake?
A typical home costs
$183,400, which is 45.8% less expensive than the national average of
$338,100 and 16.1% less expensive than the average Michigan home, at
$218,700. Renting a two-bedroom unit in Otter Lake costs
$980 per month, which is 31.5% cheaper than the national average of
$1,430 and 12.2% cheaper than the state average of
$1,100.
Can I afford Otter Lake?
To live comfortably in Otter Lake (zip 48464), Michigan, a minimum annual income of
$35,280 for a family, and
$30,800 for a single person is recommended.
What does A.I. say about Otter Lake?
The cost of living in 48464 Otter Lake, MI is relatively low compared to the rest of Michigan. According to BestPlaces, the overall cost of living index in 48464 was pegged at 81.34 out of 100 (where 100 represents the average cost of living across all US cities). This is lower than the statewide average by 7.24 points, meaning that on average goods and services are cheaper in 48464 than elsewhere in Michigan. Housing costs in particular are quite reasonable with an index score of 57.77 (again, 100 being the US average). Utilities are also below average with a score of 67.14, while groceries and transportation round out the main categories both with scores above 80. All things considered, if you're looking for an affordable place to live then 48464 Otter Lake might just be it!