Housing in Lake City, MI
Home values, rent, ownership rates, and housing market data
Housing Market Snapshot
Source: Redfin — November 2025Median Sale Price
$205,000
Median List Price
$129,900
Price Per Sq Ft
$112
Days on Market
35
Active Inventory
4
Months of Supply
4.0
Balanced market
Zillow Home Value
$213,372
ZHVI — January 2026
Price Trends
Source: RedfinMarket Competitiveness
Source: RedfinSold Above List
0.0%
Sale-to-List Ratio
97.7%
Buyer's market
Market Activity
Source: RedfinHomes Sold
1
New Listings
1
Price Per Square Foot
Source: RedfinMedian Sale $/SF
$112
Median List $/SF
$86
Lake City vs Similar Cities
Source: Census ACS / Redfin (2023)Compared to cities with under 10,000 residents. Lake City is highlighted.
Median Home Value
Median Rent
Median Price Per Sq Ft
Rent Burden
Census Housing Data
Source: U.S. Census Bureau ACS (2023)Median Home Value
$157,500
Median Rent
$666
Total Housing Units
396
Vacancy Rate
37.9%
Owner Occupied
84.2%
Renter Occupied
15.8%
Median Property Tax
$1,915
per year
Monthly Cost (w/ Mortgage)
$847
Housing Types
The current median sale price in Lake City, MI is $205,000 according to Redfin data. Homes spend a median of 35 days on the market. 0.0% of homes sold above asking price. The market has 4.0 months of supply. The median price per square foot is $112. The median rent is $666 per month (Census ACS). About 84.2% of housing units are owner-occupied. The median year homes were built is 1965. There are 396 total housing units.