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South Lake Schools

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

Median Home$175,643
Median Rent$1,165/month
Population24,344
Leading IndustryRetail15% of local workforce
Home Value Growth⬆⬆+14.7% over 2 years
Young Adults28% of residentsnear the national average
Homeowners80% of occupied units
South Lake Schools
MI

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Real local data across mortgage, insurance, natural hazard, and place.

Frequently Asked Questions

What are today's mortgage rates in South Lake Schools?

As of today, the 30-year fixed mortgage rate for South Lake Schools is approximately 6.994% (7.037% 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 South Lake Schools?

The median home value in South Lake Schools is $176k. The median monthly rent is $1,165. Annual property taxes average $3k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in South Lake Schools?

Home values in South Lake Schools have increased 14.7% 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 South Lake Schools?

Based on a typical all-in ownership cost of $988/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 South Lake Schools is $67k/year.

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What industries drive the economy in South Lake Schools?

The largest employment sectors in South Lake Schools are public administration (23%) and retail (15%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.