Average Rent in Lake County, MI↑ Rents rising 3.1% YoY🔻 4th cheapest in MI

Lake County, MI has rental prices ranging from $654/month to $1,567/month in 2025, depending on unit size. The typical 1-bedroom apartment rents for $749/month — 46% below the national average of $1,400/month. With a median household income of $49,680/year, spending $749/month on a 1-bedroom represents 18% of gross income — within the recommended 30% threshold.

How Lake County Compares

With an average 2-bedroom rent of $933/month, Lake County ranks #77 most expensive of the 80 cities tracked in Michigan — more affordable than 60% of all US cities in our data.

The Lake County Rental Market

The Lake County, MI area has a population of about 12,393 and 19% of households renting rather than owning. That renter share runs below the US average of ~34%, a more homeowner-heavy market where rental inventory can be limited.

Rent Trends

2-bedroom rents in Lake County, MI have risen by $28/month (3.1%) over the past year, from $905 to $933. This modest growth is consistent with broader inflationary trends seen across US rental markets.

Affordability

To afford a 1-bedroom apartment in Lake County, MI without exceeding the 30% housing cost guideline, a renter needs an annual income of approximately $29,960. The local median household income of $49,680 exceeds that threshold by $19,720, making Lake County relatively accessible compared to local wages.

Economy & Jobs

Lake County, MI has an unemployment rate of 6.5%, 2.6 percentage points above the national average of 3.9%. A higher unemployment rate can moderate rental demand over time, which may help keep rent growth in check compared to tighter job markets.

Is Lake County, MI Affordable?

Income needed to rent or buy, price history, and how this city compares to nearby metros.

Rent or Buy in Lake County?

Break-even analysis and mortgage estimates based on local market data.

Living in Lake County

Cost of living, job market, crime rates, and moving cost estimates.