Housing in Elk Rapids, MI
Home values, rent, ownership rates, and housing market data
Housing Market Snapshot
Source: Zillow — January 2026Zillow Home Value Index
$479,469
Elk Rapids vs Similar Cities
Source: Census ACS / Redfin (2023)Compared to cities with under 10,000 residents. Elk Rapids is highlighted.
Median Home Value
80th%ilemost expensive$348,400show rank
Median Rent
58th%ilemost expensive rent$1,032show rank
Rent Burden
29th%ilehighest rent burden15.8%show rank
Census Housing Data
Source: U.S. Census Bureau ACS (2023)Median Home Value
$348,400
Median Rent
$1,032
Total Housing Units
1,238
Vacancy Rate
32.9%
Owner Occupied
78.5%
Renter Occupied
21.5%
Median Property Tax
$3,397
per year
Monthly Cost (w/ Mortgage)
$1,139
Housing Types
Single Family71.2%
Multi-Family22.1%
Mobile Home6.6%
The median home value in Elk Rapids, MI is $348,400. According to Zillow, the home value index for Elk Rapids is $479,469. The median rent is $1,032 per month (Census ACS). About 78.5% of housing units are owner-occupied. The median year homes were built is 1967. There are 1,238 total housing units.