Is Central Lake expensive?

Central Lake, MI

State	Michigan
Population	953
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Central Lake, MI

State

Population

953

Compared to other places in this area, Central Lake is somewhat less expensive, and it is substantially less expensive compared to the nation as a whole. It is substantially less expensive compared to the city of Traverse City.

Home prices

Central Lake's median home cost is $84,400. This is about $36,300 (30%) lower compared to its nearby areas.It is about $133,100 (61%) lower compared to the entire country, and in comparison to the city of Traverse City is approximately $181,700 (68%) lower.

Traverse City

Elk Rapids

United States

Bellaire

Ellsworth

Central Lake

East Jordan

Mancelona

Comparison of median Central Lake home price to nearby areas

Distribution of home prices for Central Lake and nearby areas

Rents

Central Lake's median monthly rent is $581. It is approximately $110 (15%) lower in comparison to nearby areas.It is roughly $481 (45%) lower in comparison to the country as a whole, and compared to the city of Traverse City is about $324 (35%) lower.

United States

Traverse City

Mancelona

Elk Rapids

Bellaire

Central Lake

East Jordan

Ellsworth

Comparison of median Central Lake rent to nearby areas

Distribution of rents for Central Lake and nearby areas

Nearby places

Ellsworth

Ellsworth is about 6 miles north of Central Lake. Real estate prices there are a little more expensive. The median home value in Ellsworth is $107,900, which comes out to $23,500 (21%) higher than Central Lake. Rents there are similar. Ellsworth's median rent is $570 a month, which comes out to $11 (1%) lower than Central Lake.

Bellaire

Bellaire is roughly 6 miles south from Central Lake. Its housing prices are a little more expensive. The median home value in Bellaire is $109,800, which works out to $25,400 (23%) higher than Central Lake. Its rents are somewhat more expensive. Bellaire's median monthly rent is $640, which comes out to $59 (9%) higher than Central Lake.

East Jordan

East Jordan is roughly 7 miles northeast of Central Lake. Housing prices there are pretty similar. East Jordan's median home cost is $81,200, which comes out to $3,200 (3%) lower than Central Lake. The rent there is fairly similar. The median monthly rent in East Jordan is $573, which is $8 (1%) lower than Central Lake.

Elk Rapids

Elk Rapids is approximately 12 miles southwest from Central Lake. Its real estate prices are substantially more expensive. Elk Rapids's median home price is $229,200, which comes out to $144,800 (63%) higher than Central Lake. The rent there is somewhat more expensive. Elk Rapids's median monthly rent is $827, which is $246 (29%) higher than Central Lake.

Mancelona

Mancelona is about 13 miles southeast from Central Lake. The housing prices there are a bit less expensive. The median home in Mancelona is valued at $75,400, which comes out to $9,000 (11%) lower than Central Lake. Its rents are a bit more expensive. In Mancelona the median rent is $843 per month, which works out to $262 (31%) higher than Central Lake.