Three Lakes, MI
Full City Profile · Michigan · Baraga County County
4.7
/5.0
A+
Excellent
222
Population
37/sq mi density
$105,833
Median Income
$47,645 per capita
$258,300
Home Value
$193,218 Zillow
39°F
Avg Temperature
A+
Overall
4.7 / 5.0
Strong
A+
Economy
5.0 / 5.0
$105,833 median income, 2.2% unemployment
A+
Affordability
5.0 / 5.0
$258,300 home value, /mo rent
A
Education
4.0 / 5.0
37.7% bachelor's degree or higher
Housing Overview
Median Home Value
$258,300
8% below
US avg: $281,900
Homeownership Rate
93.1%
42% above US avg (65.4%)
Total Housing Units
253
Median year built: 1977
Home Value by Source
Census Median
$258,300
Zillow (ZHVI)
$193,218
Census ACS, Zillow ZHVI, Redfin median sale price
Ownership vs. Renting
93.1%
Owner-Occupied
6.9%
Renter-Occupied
US avg: 65.4% owner-occupied
Fair Market Rents (HUD FY2026)
Studio
$807/mo
1 Bedroom
$891/mo
2 Bedroom
$1,113/mo
3 Bedroom
$1,419/mo
4 Bedroom
$1,588/mo
Affordability & Housing Stock
Rent Burden
22.8%
of renters spending 30%+ of income on housing
26% below US avg (31.0%)
Median Year Built
1977
Average age of housing stock: 49 years
Homeownership Rate
93.1%
Complete Housing Data
Home Values
| Census Median Value | $258,300 |
| Zillow Home Value (ZHVI) | $193,218 |
Rent
| FMR Studio | $807 |
| FMR 1-Bedroom | $891 |
| FMR 2-Bedroom | $1,113 |
| FMR 3-Bedroom | $1,419 |
| FMR 4-Bedroom | $1,588 |
Market
Ownership & Stock
| Owner-Occupied | 93.1% |
| Renter-Occupied | 6.9% |
| Homeownership Rate | 93.1% |
| Total Housing Units | 253 |
| Median Year Built | 1977 |
| Rent Burden | 22.8% |