What is the median home value in Elk Rapids, MI?

Name: Home values in Elk Rapids, MI, 2020–2024
Creator: US Census Bureau
License: https://www.census.gov/data/developers/about/terms-of-service.html

The median value of owner-occupied homes in Elk Rapids, MI is $393,400 (±$34,393), as owners estimated it in the Census Bureau’s 2020–2024 American Community Survey.

In Elk Rapids, the median home value went from $229,200 in 2015–2019 to $393,400 in 2020–2024 (+71.6%).

Prices (CPI-U) rose 22.7% over the same years, so it rose faster than prices: a measurable increase after inflation.

Figures last updated on November 12, 2026.

Median home value: $393,400 (±$34,393)
Owner-occupied homes: 675 (±120)
Most common range: $300,000 to $499,999

Home values in Elk Rapids

Owner-occupied homes by value, 2020–2024
Value	Elk Rapids	Antrim County	Michigan	United States
Less than $50,000	0.0% (±4.3 points)	6.1%	7.6%	5.3%
$50,000 to $99,999	2.7% (±1.8 points)	5.6%	9.2%	6.1%
$100,000 to $149,999	6.4% (±4.7 points)	13.5%	10.6%	6.8%
$150,000 to $199,999	4.9% (±3.8 points)	13.2%	14.1%	9.0%
$200,000 to $299,999	14.2% (±5.7 points)	19.1%	23.4%	17.8%
$300,000 to $499,999	44.1% (±7.5 points)	20.2%	24.1%	26.9%
$500,000 to $999,999	21.3% (±6.5 points)	14.8%	9.2%	20.9%
$1,000,000 or more	6.4% (±3.6 points)	7.5%	1.6%	7.1%

The most common range is $300,000 to $499,999, 44.1% of owned homes.

Value is the owner’s own estimate of what the home and lot would sell for, not a sale price or an assessment.

Elk Rapids against Antrim County, its state and the nation

Estimate (90% margin of error)
	Elk Rapids	Antrim County	Michigan	United States
Median home value	$393,400 (±$34,393)	$255,500 (±$11,236)	$231,600 (±$642)	$332,700
Owner-occupied homes	675 (±120)	9,587 (±278)	2,984,190 (±12,886)	84,210,142

In Elk Rapids, the median home value is higher than in Antrim County ($255,500).

It is also higher than in Michigan ($231,600).

It is higher than the national figure ($332,700).

In Antrim County, Elk Rapids ranks 1 of 5 places with a published estimate, from highest to lowest median home value.

Statewide, it ranks 10 of 253.

Rankings use the estimates alone; where margins of error overlap, neighboring ranks may not truly differ.

How home values in Elk Rapids have changed since 2015–2019

2015–2019 and 2020–2024 American Community Survey 5-year estimates
	2015–2019	2020–2024	Amount of change	Verdict
Median home value	$229,200 (±$27,702)	$393,400 (±$34,393)	+71.6%	Up after inflation
Median owner cost with a mortgage	$1,509 (±$177)	$1,517 (±$144)	+0.5%	Down after inflation
Median real estate taxes	$3,015 (±$620)	$3,540 (±$445)	+17.4%	No measurable change 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 home value in places near Elk Rapids

Nearest places with a published estimate, compared with Elk Rapids
Place	Distance	Median home value	Compared with this place
Elk Rapids	—	$393,400 (±$34,393)	—
Milton Township (Antrim County)	3.6 mi	$528,000 (±$97,988)	Higher
Peninsula Township	5.8 mi	$706,900 (±$91,169)	Higher
Helena Township	6.7 mi	$382,000 (±$38,559)	Not measurably different
Rapid City	7.0 mi	$214,700 (±$27,735)	Lower
Acme Township	7.9 mi	$338,300 (±$19,433)	Lower
Clearwater Township	8.9 mi	$218,000 (±$17,211)	Lower
Forest Home Township	9.4 mi	$307,300 (±$46,926)	Lower
Whitewater Township	9.4 mi	$373,000 (±$31,304)	Not measurably different

Nearby places with a measurably lower figure: Rapid City, MI ($214,700), Acme Township, MI ($338,300), Clearwater Township, MI ($218,000).

Nearby places with a measurably higher figure: Milton Township (Antrim County), MI ($528,000), Peninsula Township, MI ($706,900).

Distance is measured in a straight line between the Census Bureau’s internal points for each place.

Median home value across Antrim County, place by place

Rank	Place	Median home value
1	Elk Rapids	$393,400 (±$34,393)
2	Bellaire	$230,100 (±$20,273)
3	Central Lake	$167,100 (±$16,759)
4	Ellsworth	$160,200 (±$19,584)
5	Mancelona	$131,400 (±$26,041)

Elk Rapids lies inside Elk Rapids 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.

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Questions about Elk Rapids

What is the average home value in Elk Rapids, MI?

The Census Bureau publishes the median: $393,400 (±$34,393) for owner-occupied homes in Elk Rapids (2020–2024 American Community Survey).

Have home values in Elk Rapids gone up?

In Elk Rapids, the median home value went from $229,200 in 2015–2019 to $393,400 in 2020–2024 (+71.6%).

Prices (CPI-U) rose 22.7% over the same years, so it rose faster than prices: a measurable increase after inflation.

Is this what homes in Elk Rapids sell for?

No: it is the value owners reported, which tends to lag the market; recent sale prices and an appraisal answer that question.

Sources

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) for Elk Rapids village, Michigan (place:25320, in state:26).

Each estimate (E or PE) has a margin of error beside it (M or PM).

The 2015–2019 figures are B25077_001E, B25077_001M, B25088_002E, B25088_002M, B25103_001E, B25103_001M from the 2019 release.

The API needs a free key.

Request a Census API key.

DP04_0089E, DP04_0089M, DP04_0046E, DP04_0046M, DP04_0081PE, DP04_0081PM, DP04_0082PE, DP04_0082PM, DP04_0083PE, DP04_0083PM, DP04_0084PE, DP04_0084PM, DP04_0085PE, DP04_0085PM, DP04_0086PE, DP04_0086PM, DP04_0087PE, DP04_0087PM, DP04_0088PE, DP04_0088PM

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.