MI area data
Elk Rapids, MI
Elk Rapids, MI.
Population: 2,038 (Census ACS)
Home values & appreciation
- Median home value
- $521,537
- 1-year appreciation
- +6.5%
- 3-year appreciation
- +14.8%
- 5-year appreciation
- +44.7%
- 10-year appreciation
- +142.9%
- All-time peak (2026-07)
- $521,537
- House Price Index
- 387.5 (+5.5% YoY)
Market activity
- New listings (monthly)
- 5
Affordability
- Cost of living index (Below Average)
- 92.0 (100 = US avg)
- Electricity rate (state-level)
- 20.0¢/kWh
- Natural gas rate (state-level)
- $10.90/MCF
- 30-year mortgage rate (national)
- 6.66%
- 15-year mortgage rate (national)
- 6.00%
Schools
- Total schools
- 4
- Elementary schools
- 1
- Middle schools
- 1
- High schools
- 2
Natural hazards & flood risk
- Overall hazard risk
- Very Low
- Top hazards
- coldWave
Climate (30-year normals)
- Annual precipitation
- 36.2 in
Amenities
- National parks within ~60 mi
- 1
- Nearest national park
- Sleeping Bear Dunes National Lakeshore (35 mi)
- Nearest airport
- Antrim County Airport (ACB) (7 mi)
- Nearest major airport
- Cherry Capital Airport (TVC) (18 mi)
- Hospitals nearby (~15 mi)
- 1,090
- Avg hospital rating
- 3.1 / 5
- Solar radiation rating
- Fair (3.7 kWh/m²/day)
Migration
- Net migration
- +115 tax filers
Housing stock
- Median year housing built
- 1,968
- Median annual property tax
- $3,345
- Mean commute to work
- 16 min
- Households with broadband internet
- 81.4%
Employment & development
- Total county employment
- 4,326
- Average weekly wage
- $745
- Top industries (by employment)
- Accommodation & Food, Construction, Other Services
- Annual residential building permits (county)
- 101
Area data compiled from public government, academic, and industry research feeds. Data sources →
Data last updated
Most recent source refresh: Aug 2026. See all data sources →