Lake City Real Estate
45 active listings · 64 sold in the past 12mo
$325,000
Median List Price
64
Sold (past 12mo)
67
Avg Days on Market
-43.7%
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(45)
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For Sale
1/67
$1,399,999
248 S Carolyn Drive, Lake City, MI 49651
5 bd3 ba0.66 ac
Single Family
For Sale
1/83
$899,900
7039 W White Birch Avenue, Lake City, MI 49651
3 bd3 ba0.33 ac
Single Family
For Sale
1/50
$749,900
1264 Birchaven Beach, Lake City, MI 49651
5 bd2 ba0.41 ac
Single Family
For Sale
1/57
$739,900
8303 W Sapphire, Lake City, MI 49651
6 bd3 ba2,800 sqft0.22 ac
Single Family
For Sale
1/32
$698,000
1988 S Schneider Street, Lake City, MI 49651
3 bd2 ba0.83 ac
Single Family
For Sale
1/37
$689,900
1504 S Birchaven Beach, Lake City, MI 49651
3 bd2 ba0.17 ac
Single Family
For Sale
1/59
$649,900
6789 W Redman Drive, Lake City, MI 49651
3 bd3 ba1,728 sqft0.41 ac
Single Family
For Sale
1/59
$649,900
6789 W Redman Drive, Lake City, MI 49651
4 bd1 ba0.41 ac
Single Family
For Sale
1/83
$599,900
8415 W Workman Road, Lake City, MI 49651
3 bd3 ba0.87 ac
Single Family
For Sale
1/57
$589,900
111 S Dana Trail, Lake City, MI 49651
3 bd1 ba0.39 ac
Single Family
For Sale
1/53
$589,900
111 S Dana Trail, Lake City, MI 49651
3 bd2 ba1,865 sqft0.39 ac
Single Family
For Sale
1/51
$520,000
7049 W White Birch Avenue, Lake City, MI 49651
3 bd1 ba0.37 ac
Single Family
Under Contract
1/56
$499,900
7504 W Dakota Trail, Lake City, MI 49651
5 bd1 ba0.30 ac
Single Family
For Sale
1/60
$499,900
602 S King Street, Lake City, MI 49651
3 bd2 ba0.34 ac
Single Family
For Sale
1/71
$484,900
7051 N 7 Mile Road, Lake City, MI 49651
4 bd1 ba3 ac
Single Family
For Sale
1/81
$439,000
407 S Lakeshore Drive, Lake City, MI 49651
3 bd1 ba0.45 ac
Single Family
Under Contract
1/24
$429,000
1779 S Green Road, Lake City, MI 49651
2 bd1 ba0.21 ac
Single Family
For Sale
1/58
$425,000
2255 Wenonah Trail, Lake City, MI 49651
3 bd1 ba0.79 ac
Single Family
For Sale
1/46
$419,900
1876 S Schneider Street, Lake City, MI 49651
3 bd3 ba0.18 ac
Single Family
Under Contract
1/33
$389,000
625 W Sanborn Road, Lake City, MI 49651
3 bd2 ba14.27 ac
Single Family
For Sale
1/69
$385,000
8670 W Jennings Road, Lake City, MI 49651
4 bd1 ba9.95 ac
Single Family
Under Contract
1/50
$350,000
8251 W Sapphire, Lake City, MI 49651
2 bd1 ba0.58 ac
Single Family
For Sale
1/45
$325,000
2183 Wenonah Trail, Lake City, MI 49651
3 bd1 ba0.19 ac
Single Family
Under Contract
1/46
$299,900
1645 S Duck Point Road, Lake City, MI 49651
2 bd1 ba0.15 ac
Single Family
Recently Sold(64)
Frequently Asked Questions about Lake City
Are there homes available in Lake City right now?
Lake City currently has 45 homes listed for sale. The median asking price is $325,000.
What is the median home price in Lake City?
The median sale price in Lake City is $325,000, based on 64 closed sales over the past 12 months.
How fast do homes sell in Lake City?
Homes in Lake City sell in an average of 67 days, based on 64 sales over the past 12 months.
What school districts serve Lake City?
Multiple school districts may serve Lake City. Michigan school district boundaries are independent of city borders. The school district for a specific property depends on its exact location within the city.
Is Lake City a buyer's or seller's market?
Lake City is currently a buyer's market, with 8.4 months of supply. That ratio comes from 45 active listings relative to 64 sales per year.
How are property taxes calculated in Lake City?
Property taxes in Lake City are based on a property's State Equalized Value (SEV), which is roughly 50% of market value, multiplied by the local millage rate. Homestead properties (primary residences) receive a lower rate than non-homestead. Tax bills are split into summer and winter installments.
What is the Household Formation Gap in Lake City?
Based on Census Bureau ACS data, Lake City shows a -43.7% Household Formation Gap. Despite household size decreasing from 2.24 to 2.65, the 33.4% population decline has reduced the overall number of households needing housing. This is a secondary demographic indicator, distinct from primary market measures.