The housing market in Otter Lake, MI has been steadily increasing over the past year. The median value of homes in Otter Lake is currently $191,700, which is significantly lower than the US median value of $338,100. Despite this, the housing appreciation rate over the last year in Otter Lake was 6.41%, slightly below the US average of 8.27%. This shows that although homes may be cheaper in Otter Lake compared to the national average, they have still seen an increase in value over the last year.
The median home cost in Otter Lake is $191,700. Home appreciation the last 10 years has been 118.0%. Home Appreciation in Otter Lake is up 12.8%.
Average Age of Homes
- The median age of Otter Lake real estate is 59 years old
The Rental Market in Otter Lake
- Renters make up 23.6% of the Otter Lake population
- 0.0% of houses and apartments in Otter Lake, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.