Housing in Elk Rapids, Michigan

The median home cost in Elk Rapids is $232,600. Home appreciation the last 10 years has been 21.7%. Home Appreciation in Elk Rapids is up 1.3%. Browse Elk Rapids Real Estate

Average Age of Homes

- The median age of Elk Rapids real estate is 41 years old

The Rental Market in Elk Rapids

- Renters make up 12.0% of the Elk Rapids population
- 1.5% of houses and apartments in Elk Rapids, 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.

HOUSING	Elk Rapids, Michigan	United States
Median Home Age	42	40
Median Home Cost	$232,600	$231,200
Home Appr. Last 12 months	1.3%	6.7%
Home Appr. Last 5 yrs.	28.5%	35.6%
Home Appr. Last 10 yrs.	21.7%	27.4%
Property Tax Rate	$10.65	$11.78
Property Taxes Paid	$2,477	$2,724
Homes Owned	48.6%	56.0%
Housing Vacant	34.9%	12.2%
Homes Rented	16.5%	31.8%
AVERAGE RENT FOR HOME OR APARTMENT
Average Rent	$1,381	$1,470
Studio Apartment	$450	$821
1 Bedroom Home or Apartment	$577	$930
2 Bedroom Home or Apartment	$700	$1,148
3 Bedroom Home or Apartment	$958	$1,537
4 Bedroom Home or Apartment	$1,060	$1,791
VACANT HOUSING
Vacant For Rent	1.5%	2.1%
Vacant Rented	0.8%	0.5%
Vacant For Sale	1.5%	1.0%
Vacant Sold	1.6%	0.5%
Vacant Vacation	28.7%	4.0%
Vacant Other	0.7%	4.2%
VALUE OF OWNER-OCCUPIED HOUSING
Less Than $20,000	2.8%	3.5%
$20,000 to $39,999	3.0%	3.1%
$40,000 to $59,999	2.8%	3.9%
$60,000 to $79,999	1.8%	5.4%
$80,000 to $99,999	1.5%	6.3%
$100,000 to $149,999	9.7%	14.7%
$150,000 to $199,999	22.6%	14.6%
$200,000 to $299,999	26.0%	18.7%
$300,000 to $399,999	9.4%	11.0%
$400,000 to $499,999	3.5%	6.2%
$500,000 to $749,999	11.2%	7.0%
$750,000 to $999,999	4.4%	2.7%
$1,000,000 to $1,499,999	0.7%	1.5%
$1,500,000 to $1,999,999	0.0%	0.5%
$2,000,000 and over	0.5%	0.7%