Quick facts: Trout lake, MI

Quick Facts

94.9
Cost of Living
below US average
137
Population
21.9
Crime Rate per 1000
below US average
$53,750
Median Income
below US average
$189,900
Median House Price
above US average
$1435
Average Rent
above US average
Poverty rate Data is updating, will be available soon
5.1%
Unemployment Rate
above 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 $53,750.

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Income Needed to Buy

βœ— Stretch
$60k/year
Based on $189,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $60k vs median $53,750
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Income Needed to Rent

⚠ Stretch
$61k/year
Based on $1435/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $61k vs median $53,750
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Trout lake, MI

Trout Lake is a small, picturesque community located in Chippewa County in Michigan's Upper Peninsula. Nestled near the shores of Trout Lake, the area is known for its serene natural beauty, making it a popular destination for outdoor enthusiasts. The surrounding landscape features lush forests and abundant wildlife, and offers numerous recreational activities such as fishing, boating, hiking, and snowmobiling, particularly during the winter months. The community has a quaint, rural charm, with a close-knit population that embraces the slower pace of life. Trout Lake also features local shops and eateries, providing a taste of local culture and cuisine. Being situated near larger towns like Sault Ste. Marie offers residents and visitors access to more urban amenities while maintaining the tranquility of small-town living. Trout Lake is an ideal spot for anyone looking to escape the hustle and bustle of city life. It serves as a hidden gem for those who enjoy the great outdoors and a peaceful environment. Whether you're a nature lover, a photographer, or just seeking relaxation, Trout Lake is a charming destination that showcases the beauty of Michigan's natural landscape.

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