Lapeer County, Michigan Housing Market Prices
Lapeer County Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 22% above the Michigan median$169,473
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Median rent 13% below the Michigan median More expensive than 73% of counties in Michigan$987
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Lapeer County | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $169,473 | $138,713 | $248,835 |
| Price Trend (Annual %) | 12.4% | 8.6% | 7.5% |
| Median Gross Rent | $987 | $1,129 | $1,407 |
| Rent Trend (Annual %) | 2.8% | 4.5% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Lapeer County is about 22% higher than in Michigan. Rent is about 13% lower than the Michigan average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Lapeer County, up about 12.4% and 2.8% a year respectively. Home prices are changing faster.
Median rent in Lapeer County rose about 26.6% between 2015 and 2024, from $780 to $987. Over the same span, rent in Michigan rose about 44.2%.
Affordability
On average, housing unit costs 2.2 yearly household incomes in Lapeer County.
Buying the median-priced home in Lapeer County costs roughly 14.3 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Lapeer County. The price-to-rent ratio in Michigan is about 10.2.
| Metric | Lapeer County | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $169,473 | $138,713 | $248,835 |
| Median Household Income | $76,664 | $72,977 | $80,455 |
| Price-to-Income Ratio | 2.2 | 1.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Lapeer County rose about 100.1%, while median household income rose about 29.4% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Lapeer County | Michigan Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 80.7% | 64.6% | 58.5% |
| Rental Rate | 13.1% | 23.6% | 31.2% |
| Vacancy Rate | 6.2% | 11.8% | 10.2% |
| Median Tenure (years) | 18.0 | 16.0 | 15.0 |
| Median Year Moved In | 2008 | 2010 | 2011 |
Lapeer County has a homeownership rate of 80.7%, higher than the Michigan average of 64.6%. Its housing vacancy rate is 6.2%, compared with 11.8% in Michigan.
Housing Stock
| Metric | Lapeer County | Michigan Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.51 people | 2.42 people | 2.53 people |
| Median Structure Built Year | 1980 | 1972 | 1978 |
| Median Number of Rooms | 6.1 | 5.9 | 5.5 |
The typical housing unit in Lapeer County was built around 1980. On average, 2.5 people live in a home with about 6.1 rooms, staying for about 18.0 years on average.
Lapeer County, MI Housing Compared With Nearby Counties
Lapeer County, MI is the 5th largest of the 6 counties compared here, 88,837 residents against a local median of 403,150. Where Lapeer County, MI breaks from the counties next to it is median home price, sitting 16% below the local median of $201,923 at $169,473.
The counties themselves spread $162,682 on median home price, so Lapeer County, MI sits at one end of an already wide local range rather than apart from it. Lapeer County, MI has the 4th highest median home price of the 6 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Lapeer County, MI | 88,837 | $169,473 #4/6 | $987 #5/6 | 86.0% #2/6 |
| Tuscola County, MI | 52,980 | $135,750 | $819 | 86.4% |
| Oakland County, MI | 1,277,811 | $259,162 | $1,375 | 72.7% |
| Genesee County, MI | 403,150 | $96,479 | $988 | 70.8% |
| Macomb County, MI | 879,566 | $201,923 | $1,210 | 75.0% |
| St. Clair County, MI | 160,218 | $248,056 | $1,029 | 80.8% |
Frequently Asked Questions
Common questions about the housing market in Lapeer County, Michigan.
What is the median home price in Lapeer County, Michigan?
The median home price in Lapeer County, Michigan is $169,473, higher than the Michigan average of $138,713.
What is the average home price in Lapeer County, Michigan?
The typical home price in Lapeer County, Michigan, reported as the median sale price, is $169,473. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Lapeer County, Michigan?
The median gross rent in Lapeer County, Michigan is $987 per month, lower than the Michigan average of $1,129.
What was the median gross rent in Lapeer County in 2020?
In 2020, the median gross rent in Lapeer County, Michigan was $796 per month.
What is the price-to-rent ratio in Lapeer County, Michigan?
The price-to-rent ratio in Lapeer County, Michigan is about 14.3, meaning it would take roughly 14.3 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Lapeer County.
Are home prices or rent rising faster in Lapeer County, Michigan?
Both home prices and rent are rising in Lapeer County, up about 12.4% and 2.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in Lapeer County, Michigan?
80.7% of households in Lapeer County, Michigan own their home, higher than the Michigan average of 64.6%.
What is the vacancy rate in Lapeer County, Michigan?
The housing vacancy rate in Lapeer County, Michigan is 6.2%, lower than the Michigan average of 11.8%.
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