Home prices
The median home in Elk Rapids costs $229,200. This is about $36,820 (19%) higher compared to its surrounding areas.Compared to the nation as a whole it is approximately $11,700 (5%) higher, and is roughly $36,900 (13%) lower compared to the city of Traverse City.
Rents
In Elk Rapids the median rent is $827 per month. In comparison to nearby areas it is approximately $20 (2%) lower.It is roughly $235 (22%) lower compared to the United States as a whole, and it is roughly $78 (8%) lower in comparison to the city of Traverse City.
Nearby places
Rapid City
Rapid City is approximately 6 miles southeast of Elk Rapids. Its real estate prices are significantly less expensive. The median home value in Rapid City is $138,400, which works out to $90,800 (65%) lower than Elk Rapids. The rent there is somewhat less expensive. The median rent in Rapid City is $729 a month, which comes out to $98 (13%) lower than Elk Rapids.
Bellaire
Bellaire is about 9 miles northeast of Elk Rapids. Housing prices there are a lot less expensive. The median home value in Bellaire is $109,800, which is $119,400 (108%) lower than Elk Rapids. Rent there is somewhat less expensive. In Bellaire the median rent is $640 per month, which is $187 (29%) lower than Elk Rapids.
Suttons Bay
Suttons Bay is approximately 11 miles northwest of Elk Rapids. The real estate prices there are substantially more expensive. The median home in Suttons Bay costs $365,500, which comes out to $136,300 (37%) higher than Elk Rapids. The rent there is fairly similar. The median rent in Suttons Bay is $864 per month, which works out to $37 (4%) higher than Elk Rapids.
Greilickville
Greilickville is about 12 miles southwest of Elk Rapids. Housing prices there are a bit more expensive. Greilickville's median home value is $263,800, which works out to $34,600 (13%) higher than Elk Rapids. The rent there is significantly more expensive. In Greilickville the median monthly rent is $1,419, which comes out to $592 (41%) higher than Elk Rapids.
Central Lake
Central Lake is about 12 miles northeast of Elk Rapids. Its real estate prices are significantly less expensive. The median home in Central Lake costs $84,400, which comes out to $144,800 (171%) lower than Elk Rapids. Its rents are significantly less expensive. The median monthly rent in Central Lake is $581, which works out to $246 (42%) lower than Elk Rapids.
