Elk Rapids, MI is a desirable area for housing due to its higher median value of $431,200 compared to the US house median value of $338,100. The appreciation rate in Elk Rapids over the last year has been 15.49%, which is 7.22% higher than the US 1 year appreciation rate of 8.27%. This makes it an attractive option for those looking to invest in real estate or purchase a home in this area.
The median home cost in Elk Rapids is $431,200. Home appreciation the last 10 years has been 122.2%. Home Appreciation in Elk Rapids is up 19.8%.
Average Age of Homes
- The median age of Elk Rapids real estate is 42 years old
The Rental Market in Elk Rapids
- Renters make up 12.0% of the Elk Rapids population
- 0.0% 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.