Renting in Lake Township: a two-bedroom costs about $970
Lake Township is too small for a cost of living grade (TownRatings grades places of 1,000 or more).
Zillow and Redfin publish no market figures here. How TownRatings grades cost of living
Housing in Lake Township, in brief
About half of Lake Township’s homes are second homes
65% of Lake Township’s homes are seasonal or vacation homes, empty for much of the year. Year-round rentals are scarce: there are 4 renter households. Property taxes ↓
Prices rose faster than Michigan’s over five years
There’s no Zillow index for Lake Township, so the page uses the federal house price index for the ZIP codes around it, which follows repeat sales of the same homes. It rose 97% over five years, against 52% across Michigan. Price trend ↓
Written from the data on this page. There’s no Zillow index for Lake Township, so the typical value is the Census median; permits are Census figures through 2025; incomes, rents paid, taxes and ownership come from the Census American Community Survey, which has wide margins in a place this size.
Why Lake Township isn’t graded
The grade needs at least two of four Census figures: home value, rent, property tax and the share of households paying 30% or more for housing.
Next door, Caseville Township grades B− for cost of living.
A two-bedroom rents for about $970
Fair Market Rent a month, utilities included
U.S. Department of Housing and Urban Development, Fair Market Rents by ZIP code (Huron County, MI): the 40th-percentile rent plus utilities for a standard unit. Median rent and renters: U.S. Census Bureau, American Community Survey.
Low tax bills, but a high tax rate
The median bill is $2,508, under the Michigan median of $2,904, because homes cost less. As a share of value it’s 1.33% a year, against 1.25% statewide.
Census American Community Survey 2020–24: the median real-estate tax bill homeowners report, and that bill ÷ the median home value. Bills include town, school and county taxes. The Census reports bills over $10,000 only as “$10,000+”.
The rest of a budget near Lake Township
Only figures published free for the whole country, each labeled with the area it covers: Michigan, or Michigan. Groceries follow the goods price level; nobody publishes them town by town.
| Cost | Here | Compared with | Area | Source |
|---|---|---|---|---|
| Electricity cents per kWh, homes | 23.1¢ | U.S. 18.3¢ | state | EIA, July 2026 |
Price levels: U.S. Bureau of Economic Analysis, Regional Price Parities 2024 (metro area and state). Electricity: U.S. Energy Information Administration, Electric Power Monthly, table 5.6.A.
Lake Township vs. its neighbors
Zillow publishes no value for Lake Township. Caseville Township and Hume Township have no Zillow value, so they are in the table only.
Cost next door · one source per column
| Town | Cost | Typical home Zillow, latest | Median value Census 2020–24 | Tax rate bill ÷ value | 2-bed rent HUD 2026 |
|---|---|---|---|---|---|
| Lake Township | – | — | $188K | 1.33% | $970 |
| Caseville Township | B− | — | $204K | 1.19% | $1,050 |
| Hume Township | – | — | $180K | 1.19% | $970 |
| Chandler Township | – | — | $149K | 1.07% | $1,060 |
“—” under Cost: not graded (too little Census data, or under 1,000 residents). “—” under Zillow: Zillow publishes no value for that town, so it’s left blank rather than mixed with Census figures.
Questions about the cost of living in Lake Township
How much is rent in Lake Township?
HUD puts a two-bedroom at about $970 a month with utilities, the going rate for someone moving in.
What are property taxes in Lake Township?
The median bill is $2,508 a year, 1.33% of the median home value (Michigan: $2,904, 1.25%), from the Census 2020–24.
Why doesn’t Lake Township have a cost of living grade?
Lake Township is too small for a cost of living grade (TownRatings grades places of 1,000 or more).
Neighbors talk housing
What Lake Township buyers, sellers and renters are saying.
Home values: Zillow Home Value Index (ZHVI), Zillow Research. Sales, days on market and supply: Redfin Data Center. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits Survey. Price trend: Federal Housing Finance Agency House Price Index. Fair Market Rents: U.S. Department of Housing and Urban Development. The calculator is an estimate, not a loan offer. Regional price levels: BEA; electricity: EIA. How TownRatings grades cost of living.