How much do homeowners pay a month in Central Lake, MI?
Homeowners with a mortgage in Central Lake, MI pay a median of $996 (±$132) a month in selected owner costs (2020–2024 American Community Survey).
Owners without a mortgage pay $466 (±$72).
50.2% of owned homes carry a mortgage.
In Central Lake, the median monthly cost with a mortgage went from $789 in 2015–2019 to $996 in 2020–2024 (+26.2%).
Prices (CPI-U) rose 22.7% over the same years; the change is not measurably different from the rise in prices.
Figures last updated on .
- With a mortgage
- $996 (±$132)
- Without a mortgage
- $466 (±$72)
- Owned with a mortgage
- 50.2%
Monthly owner costs in Central Lake
| Central Lake | Antrim County | Michigan | United States | |
|---|---|---|---|---|
| With a mortgage | $996 (±$132) | $1,462 (±$42) | $1,569 (±$5) | $1,963 |
| Without a mortgage | $466 (±$72) | $546 (±$19) | $602 (±$3) | $638 |
| Owned homes with a mortgage | 50.2% (±9.5 points) | 52.7% (±2.7 points) | 57.8% (±0.2 points) | 60.6% |
| Median real estate taxes (a year) | $1,558 (±$247) | $2,157 (±$124) | $2,904 (±$9) | $3,119 |
Selected monthly owner costs are the mortgage payment, property taxes, insurance, utilities, fuels and any condominium or mobile-home fees.
In Central Lake, the median cost with a mortgage is lower than in Antrim County ($1,462).
It is also lower than in Michigan ($1,569).
It is lower than the national figure ($1,963).
In Antrim County, Central Lake ranks 5 of 5 places with a published estimate, from highest to lowest median monthly cost with a mortgage.
Statewide, it ranks 201 of 252.
Rankings use the estimates alone; where margins of error overlap, neighboring ranks may not truly differ.
How owner costs in Central Lake have changed since 2015–2019
| 2015–2019 | 2020–2024 | Amount of change | Verdict | |
|---|---|---|---|---|
| Median owner cost with a mortgage | $789 (±$360) | $996 (±$132) | +26.2% | No measurable change after inflation |
| Median real estate taxes | $1,238 (±$153) | $1,558 (±$247) | +25.8% | No measurable change after inflation |
| Median home value | $84,400 (±$4,527) | $167,100 (±$16,759) | +98.0% | Up after inflation |
The Census Bureau publishes 2015–2019 dollars in 2019 dollars and 2020–2024 dollars in 2024 dollars.
Prices (the CPI-U, US Bureau of Labor Statistics) rose 22.7% between 2019 and 2024, so a dollar figure’s verdict compares the two after raising the earlier one by that much, using the Census Bureau’s test for a difference.
The two periods do not overlap, as the Census Bureau recommends for 5-year estimates.
Median monthly cost with a mortgage in places near Central Lake
| Place | Distance | Median monthly cost with a mortgage | Compared with this place |
|---|---|---|---|
| Central Lake | — | $996 (±$132) | — |
| Torch Lake Township (Antrim County) | 4.5 mi | $1,742 (±$211) | Higher |
| Echo Township | 5.2 mi | $1,375 (±$132) | Higher |
| Forest Home Township | 5.8 mi | $1,447 (±$156) | Higher |
| Ellsworth | 6.8 mi | $1,099 (±$68) | Not measurably different |
| Banks Township | 7.2 mi | $1,544 (±$121) | Higher |
| Bellaire | 7.3 mi | $1,346 (±$199) | Higher |
| Kearney Township | 7.8 mi | $1,424 (±$165) | Higher |
| South Arm Township | 8.0 mi | $1,495 (±$179) | Higher |
Nearby places with a measurably higher figure: Torch Lake Township (Antrim County), MI ($1,742), Echo Township, MI ($1,375), Forest Home Township, MI ($1,447).
Distance is measured in a straight line between the Census Bureau’s internal points for each place.
Median monthly cost with a mortgage across Antrim County, place by place
| Rank | Place | Median monthly cost with a mortgage |
|---|---|---|
| 1 | Elk Rapids | $1,517 (±$144) |
| 2 | Bellaire | $1,346 (±$199) |
| 3 | Mancelona | $1,178 (±$216) |
| 4 | Ellsworth | $1,099 (±$68) |
| 5 | Central Lake | $996 (±$132) |
Central Lake lies inside Central Lake Township, whose figures include it, so it is ranked only against places like it.
Survey years: 2020–2024 (American Community Survey 5-year estimates), compared with 2015–2019.
Margins of error are at the 90% confidence level.
What you can do on Seayora in Central Lake
One account for renting, owning, managing and fixing homes, with these figures beside you.
Own or manage a rental?
List it, sign the lease and collect rent online, with the figures for Central Lake beside you.
Create a landlord account · See what landlords get
Looking for a place to rent?
Browse homes for rent near Central Lake, save the ones you like and apply online.
Browse rentals · Create a renter account
Do repairs, renovations or maintenance?
Get found by owners and renters near Central Lake, and send estimates and invoices from your phone.
Questions about Central Lake
What is the average mortgage payment in Central Lake?
The Census Bureau publishes total owner costs rather than the mortgage alone: the median for owners with a mortgage in Central Lake, MI is $996 (±$132) a month, including taxes, insurance and utilities.
How much does it cost to own a paid-off home in Central Lake?
Owners without a mortgage in Central Lake pay a median of $466 (±$72) a month in taxes, insurance, utilities and fees.
Has the cost of owning a home in Central Lake gone up?
In Central Lake, the median monthly cost with a mortgage went from $789 in 2015–2019 to $996 in 2020–2024 (+26.2%).
Prices (CPI-U) rose 22.7% over the same years; the change is not measurably different from the rise in prices.
Sources
- Selected Housing Characteristics (DP04), 2020–2024 ACS 5-year estimates — Central Lake village, Michigan
- Median Real Estate Taxes Paid by Mortgage Status (B25103), 2020–2024 ACS 5-year estimates — Central Lake village, Michigan
- Median Selected Monthly Owner Costs (B25088), 2015–2019 ACS 5-year estimates — Central Lake village, Michigan
- Median Real Estate Taxes Paid by Mortgage Status (B25103), 2015–2019 ACS 5-year estimates — Central Lake village, Michigan
- Median Value (B25077), 2015–2019 ACS 5-year estimates — Central Lake village, Michigan
- Consumer Price Index for All Urban Consumers (CPI-U), US city average, all items, US Bureau of Labor Statistics: annual averages 2019 and 2024
To check these figures in the Census Bureau’s own API, request the variables below from the 2024 ACS 5-year data profile (acs/acs5/profile) and detailed tables (acs/acs5) for Central Lake village, Michigan (place:14400, in state:26).
Each estimate (E or PE) has a margin of error beside it (M or PM).
The 2015–2019 figures are B25088_002E, B25088_002M, B25103_001E, B25103_001M, B25077_001E, B25077_001M from the 2019 release.
The API needs a free key.
DP04_0101E, DP04_0101M, DP04_0109E, DP04_0109M, DP04_0091PE, DP04_0091PM, B25103_001E, B25103_001M
This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.
Figures are published by the US Census Bureau, HUD, the Bureau of Labor Statistics and the FBI; Seayora reproduces them and does not adjust them, except where a sentence says it compares dollar figures after inflation. They describe the whole place, not any one building or street, and are not an appraisal, a rent determination, a tax bill, a safety rating or legal advice.
Figures last updated on .
Related
- Housing in Central Lake at a glance
- Renters and owners in Central Lake
- Income and affordability in Central Lake
- Home values in Central Lake
- Property taxes in Central Lake
- Types of homes in Central Lake
- Bedrooms in Central Lake
- Age of homes in Central Lake
- Heating fuel in Central Lake
- Commute and cars in Central Lake
- Population growth in Central Lake
- How long people stay in Central Lake
- Michigan landlord and tenant rules
- Housing across Antrim County
- Housing data for every place in Michigan