Housing costs in Bear Lake?
A typical home costs
$229,400, which is 32.2% less expensive than the national average of
$338,100 and 4.9% more expensive than the average Michigan home, at
$218,700. Renting a two-bedroom unit in Bear Lake costs
$940 per month, which is 34.3% cheaper than the national average of
$1,430 and 17.0% cheaper than the state average of
$1,100.
Can I afford Bear Lake?
To live comfortably in Bear Lake, Michigan, a minimum annual income of
$43,920 for a family, and
$28,400 for a single person is recommended.
What does A.I. say about Bear Lake?
The cost of living in Bear Lake, MI is relatively low compared to other areas. According to BestPlaces, the cost of living index for Bear Lake is 77.90鈥攚ell below the U.S. average of 100. The median home value in Bear Lake is $114,800, which is nearly half the average for Michigan ($201,600). Additionally, groceries and restaurants are quite affordable, with meal costs around $15-$20 at local establishments. The low cost of living makes Bear Lake an attractive option for those looking to cut down on the price tag associated with life in big cities.