Elk Rapids Real Estate
13 active listings · 22 sold in the past 12mo
$549,900
Median List Price
22
Sold (past 12mo)
99
Avg Days on Market
+1.3%
HFGⓘ
Household Formation Gap (HFG) is a secondary market indicator that measures hidden housing demand created by shrinking household sizes. As average household size decreases — due to divorce, single living, empty nesting, delayed marriage — more housing units are needed even without population growth. HFG compares the estimated number of households needed today versus 15 years ago: (population ÷ avg household size). This is a demographic trend signal, not a primary market indicator like income-based affordability or comparative market analysis. Source: U.S. Census Bureau, American Community Survey 5-Year Estimates (2009–2023), Tables B01003, B25010, B25001.
Active Listings
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Homes for Sale(13)
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For Sale
1/15
$3,495,000
119 Jackson Road, Elk Rapids, MI
4 bd4 ba0.75 ac
Single Family
For Sale
1/35
$1,305,000
128 River Street, Elk Rapids, MI 49629
2 bd2 ba0.07 ac
Single Family
Under Contract
1/49
$1,250,000
110 Ames Street, Elk Rapids, MI 49629
3 bd2 ba
Single Family
For Sale
1/28
$1,175,000
110 Ames Street, Elk Rapids, MI 49629
3 bd3 ba
Single Family
For Sale
1/71
$699,900
503 W Second Street, Elk Rapids, MI 49629
6 bd2 ba0.43 ac
Single Family
Under Contract
1/34
$569,900
8779 Swan Point Road, Elk Rapids, MI 49629
2 bd2 ba0.53 ac
Single Family
For Sale
1/41
$549,900
6831 E Harbor Drive, Elk Rapids, MI 49629
3 bd1 ba0.51 ac
Single Family
Under Contract
1/38
$535,000
609 Spruce Street, Elk Rapids, MI 49629
2 bd1 ba0.21 ac
Single Family
Under Contract
1/33
$535,000
517 Spruce, Elk Rapids, MI 49629
3 bd1 ba0.21 ac
Single Family
For Sale
1/22
$399,000
137 Center Street, Elk Rapids, MI 49629
3 bd1 ba0.19 ac
Single Family
For Sale
1/23
$397,500
8144 Cairn Highway, Elk Rapids, MI 49629
3 bd1 ba1.42 ac
Single Family
Under Contract
1/12
$349,000
609 Cedar Street, Elk Rapids, MI 49629
2 bd2 ba0.25 ac
Single Family
For Sale
1/17
$299,900
105 & 107 Brand Street, Elk Rapids, MI 49629
4 bd2 ba0.19 ac
Single Family
Recently Sold(22)
Frequently Asked Questions about Elk Rapids
Are there homes available in Elk Rapids right now?
There are currently 13 active listings in Elk Rapids. The median asking price is $549,900.
What is the median home price in Elk Rapids?
Homes in Elk Rapids sell for a median of $549,900, drawn from 22 transactions over the past year.
How fast do homes sell in Elk Rapids?
The average days on market in Elk Rapids is 99, based on 22 recent transactions.
What school districts serve Elk Rapids?
Elk Rapids is served by one or more public school districts. In Michigan, school district boundaries do not always align with city limits, so different parts of Elk Rapids may be zoned for different districts. Check individual listings for the specific school district assignment.
Is Elk Rapids a buyer's or seller's market?
With 7.1 months of inventory, Elk Rapids is currently a buyer's market. This is based on 13 active listings and 22 sales in the past 12 months.
How are property taxes calculated in Elk Rapids?
Michigan property taxes in Elk Rapids are calculated using the State Equalized Value (SEV) times the local millage rate. Rates vary by school district and municipality. Primary residences qualify for a homestead exemption that reduces the tax rate.
Is housing demand growing in Elk Rapids?
Per U.S. Census ACS data, Elk Rapids has a +1.3% Household Formation Gap — essentially flat over the past 15 years. Average household size shifted from 2.12 to 1.87, while population declined 10.6%. This secondary indicator suggests demographic housing demand has remained relatively stable.