Quick facts: Otsego, MI

Quick Facts

94.9
Cost of Living
below US average
4,069
Population
9.83
Crime Rate per 1000
below US average
$68,490
Median Income
below US average
$339,900
Median House Price
above US average
$1435
Average Rent
above US average
8%
Poverty Rate
below US average
3.3%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $68,490.

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Income Needed to Buy

βœ— Stretch
$107k/year
Based on $339,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $107k vs median $68,490
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Income Needed to Rent

βœ“ Affordable
$61k/year
Based on $1435/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($68,490) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Otsego, MI

Otsego, Michigan, is a charming small town located in Allegan County, with a rich history and a close-knit community atmosphere. Nestled along the banks of the Kalamazoo River, Otsego is known for its picturesque landscapes and outdoor recreational opportunities. The town has a population of approximately 3,800 residents and boasts a variety of local shops, restaurants, and parks that reflect its small-town charm. One of the highlights of Otsego is its vibrant downtown area, where locals enjoy community events, seasonal festivals, and farmers' markets. The area's historical architecture adds character, while the scenic riverfront provides a beautiful backdrop for leisure activities such as fishing, kayaking, and hiking. Otsego is also conveniently located near larger cities like Kalamazoo and Grand Rapids, making it an accessible and desirable place for those who enjoy a quieter lifestyle while still being close to urban amenities. The town's educational facilities and community-focused initiatives contribute to a strong sense of belonging among its residents, making Otsego a delightful place to live and visit.

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