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Lapeer

Learn about the people, housing, costs and businesses in Lapeer, Michigan

Median Home$180,956
Median Rent$993/month
Population8,981
Leading IndustriesRetail · Professional Services21% retail
Home Value Growth+10.7% over 2 years
Young Adults32% of residentsabove average nationally
Homeowners50% of occupied units
NotableAmenity Score78/100 · highly walkable area
NotableTransit82/100 · excellent transit access
Lapeer
MI

Frequently Asked Questions

What are today's mortgage rates in Lapeer?

As of today, the 30-year fixed mortgage rate for Lapeer is approximately 7.013% (7.053% 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 Lapeer?

The median home value in Lapeer is $181k. The median monthly rent is $993. Annual property taxes average $2k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Lapeer?

Home values in Lapeer have increased 10.7% 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 Lapeer?

Based on a typical all-in ownership cost of $983/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $42k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Lapeer is $52k/year.

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What industries drive the economy in Lapeer?

The largest employment sectors in Lapeer are retail (21%) and public administration (18%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.