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Skidway Lake

Learn about the people, housing, costs and businesses in Skidway Lake, Michigan

Median Home$70,789
Median Rent$850/month
Population3,205
Leading IndustriesWholesale Trade · Healthcare · Finance & Insurance12% wholesale trade
Home Value Growth⬆⬆⬆+48.4% over 2 years
Retirees27% of residentsabove average nationally
Homeowners88% of occupied units
NotableTransit81/100 · excellent transit access
NotableVeteran Community10% of residents · top 14% nationally
Skidway Lake
MI

Frequently Asked Questions

What are today's mortgage rates in Skidway Lake?

As of today, the 30-year fixed mortgage rate for Skidway Lake is approximately 6.934% (6.971% 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 Skidway Lake?

The median home value in Skidway Lake is $71k. The median monthly rent is $850. Annual property taxes average $919. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Skidway Lake?

Home values in Skidway Lake have increased 48.4% 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 Skidway Lake?

Based on a typical all-in ownership cost of $502/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $22k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Skidway Lake is $38k/year.

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What industries drive the economy in Skidway Lake?

The largest employment sectors in Skidway Lake are public administration (23%) and wholesale trade (12%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.