Otter Lake, MI—48464
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Otter Lake, MI
As of Oct '25, the median home price in Otter Lake, MI is $225,000, with a year-over-year change of 1.8%. This indicates that home prices in Otter Lake, MI are increasing. According to Zillow, the 1-year price projection is 2.2%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $225,000 | 1.8% |
| Single Family | $225,000 | 1.8% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | $245,000 | 4.3% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Otter Lake, MI
Otter Lake, MI lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | N/A | N/A |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Otter Lake, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Otter Lake, MI is 52. This is a decrease of -13.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 50.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $277,000 | 27.0% |
Listing Count | 12 | -7.0% |
| Listings as % of Homes | 0.2% | -7.0% |
Days on Market | 52 | -13.0% |
Demographics — Otter Lake, MI
As of the latest ACS Survey released in 2023, Otter Lake, MI has a population of 1,990, which has decreased by -8.6% over the past 5 years. Otter Lake, MI is a less popular place for families, as children make up 13.2% of the population. The area has a poorly educated workforce, with 18.5% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 1,990 | -8.6% |
% Under 18 | 13.2% | -31.2% |
% Seniors | 27.5% | 84.6% |
% WFH | 6.0% | 27.7% |
% w/ College Degree | 18.5% | 96.8% |
As of the latest ACS Survey released in 2023, Otter Lake, MI is a predominantly white area, with 92.5% of the population identifying as white. The white population has grown by 0.2% in the last 5 years. The second most common race or ethnicity in Otter Lake, MI is hispanic, making up 2.7% of the population. Foreign-born residents account for 1.6% of the population in Otter Lake, MI, and this percentage has increased by 77.8% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 92.5% | 0.2% |
% Black | 0.1% | -50.0% |
% Hispanic | 2.7% | 8.0% |
% Asian | 1.6% | 700.0% |
% Foreign Born | 1.6% | 77.8% |
Mortgage and Risk — Otter Lake, MI
According to HUD data as of 2023, there were 36 mortgage originations in Otter Lake, MI, of which 78.0% of loans were conventional mortgages. The average loan-to-value was 67.0%, with 25.0% above 90% LTV (very high). This implies large mortgage risk in Otter Lake, MI. Investor activity is low, as 0.0% of loans were by investors. 19.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 36 |
% Conventional Loans | 78.0% |
% Government Loans | 22.0% |
% Investor Loans | 0.0% |
% Second Loans | 6.0% |
% Cash Out Refinance | 19.0% |
Loan Activity
Rentals and Section 8 — Otter Lake, MI
Otter Lake, MI lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | N/A |
Total Units Section 8 | N/A |
% Rentals under Section 8 | 3.0% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $920 |
| 2 Bedroom | N/A | N/A | $1,170 |
| 3 Bedroom | N/A | N/A | $1,440 |
| 4 Bedroom | N/A | N/A | $1,550 |
Affordability — Otter Lake, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.2 |
| Median Home Price | $225,000 |
| Median Household Income | $64,500 |