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Eagle River

Learn about the people, housing, costs and businesses in Eagle River, Michigan

Median Home$169,800
Median Rent$687/month
Population68
Leading IndustriesWholesale Trade · Professional Services · Arts, Food & Hospitality15% wholesale trade
Home Value Growth⬆⬆⬆+36.2% over 2 years
Retirees21% of residentsnear the national average
Homeowners92% of occupied units
NotableHighly Educated27% hold a bachelor's degree · top 14% nationally
NotableVeteran Community10% of residents · top 14% nationally
Eagle River
MI

Frequently Asked Questions

What are today's mortgage rates in Eagle River?

As of today, the 30-year fixed mortgage rate for Eagle River is approximately 6.840% (6.874% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Eagle River?

The median home value in Eagle River is $170k. The median monthly rent is $687. Annual property taxes average $2k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Eagle River?

Home values in Eagle River have increased 36.2% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Eagle River?

Based on a typical all-in ownership cost of $688/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $29k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Eagle River is $53k/year.

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What industries drive the economy in Eagle River?

The largest employment sectors in Eagle River are public administration (20%) and wholesale trade (15%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.