Elk Rapids, MI
1,624Residents
$70,938Median household income
$1,056/moMedian gross rent
$393,400Median home value
57.7Median age
45%Adults with a bachelor’s degree or higher
75%Homes lived in by their owners
5.5×Home value to household income
Median rent takes about 18% of the median household income in Elk Rapids.
What pay do you need to rent here?
To keep rent at or below 30% of gross pay, you would need about $42,000 a year. In Michigan that leaves roughly $2,845 a month after tax. See the full paycheck breakdown for $40,000.
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Source: Census ACS 2024 ACS 5-year, places. Small places carry larger margins of error.