The median home in Lake, Michigan is valued at $351,514, up 4.1% year over year. Lake is part of the Niles, MI metropolitan area, which CrashWatch tracks daily with real-time stress scores and crash risk analysis.

Home Value$351,514

+4.1%

Prices rising — worse for buyers.

Affordability

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Income (annual)

Down Payment

$70,303 on $351,514

Example: $75,000 household income. Change it above to see your own.

Out of reach37.8% of income

Need $101,229/yr to afford.

PITI$2,362

P/I37.8%

Afford$260K

Gap-$91K

P&I $1,777Tax $451Ins $133

6.50% 30yr, 20% down, county tax + MI ins. 28% per HUD.

Home Buying Kit For Dummies (2025)Financing, negotiation, closing

Other cities in Michigan

Compare Lake with other housing markets across Michigan.

Lake Angelus$1.66M Leland$1.1M Orchard Lake$914K Franklin$845K Lake Leelanau$832K Kewadin$811K Lakeside$800K Northport$758K

Full Niles, MI analysis

Stress scores, crash risk, early warning signals, and 12-month price forecasts for the Niles, MI metro.

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Lake, MI