Otter Lake Real Estate
8 active listings · 34 sold in the past 12mo
$283,900
Median List Price
34
Sold (past 12mo)
66
Avg Days on Market
-10.7%
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(8)
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For Sale
1/61
$455,000
4800 Howell Road, Otter Lake, MI 48464
3 bd3 ba3,608 sqft8.34 ac
Single Family
Under Contract
1/33
$375,000
6087 Cyclone Road, Otter Lake, MI 48464
4 bd3 ba3,686 sqft5.03 ac
Single Family
For Sale
1/45
$319,999
3457 W Burnside Road, Otter Lake, MI 48464
3 bd2 ba2,416 sqft2.53 ac
Single Family
Under Contract
1/34
$289,900
6208 Marathon Road, Otter Lake, MI 48464
3 bd2 ba1,550 sqft10.04 ac
Single Family
For Sale
1/3
$277,900
14510 Washburn Road, Otter Lake, MI 48464
3 bd2 ba1,560 sqft10.46 ac
Single Family
For Sale
1/22
$239,900
6435 11th Street, Otter Lake, MI 48464
4 bd2 ba1,920 sqft0.23 ac
Single Family
For Sale
1/22
$205,000
3419 Burnside Road, Otter Lake, MI 48464
3 bd2 ba1,456 sqft2.53 ac
Single Family
For Sale
1/12
$149,000
5792 Howell Road, Otter Lake, MI 48464
2 bd1 ba2.18 ac
Mfg Home
Recently Sold(34)
Frequently Asked Questions about Otter Lake
How many homes are for sale in Otter Lake?
Otter Lake currently has 8 homes listed for sale. The median asking price is $283,900.
How much do homes cost in Otter Lake?
Homes in Otter Lake sell for a median of $283,900, drawn from 34 transactions over the past year.
How long do homes stay on the market in Otter Lake?
The average days on market in Otter Lake is 66, based on 34 recent transactions.
What schools are in Otter Lake?
Otter Lake 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 Otter Lake may be zoned for different districts. Check individual listings for the specific school district assignment.
What are market conditions like in Otter Lake?
With 2.8 months of inventory, Otter Lake is currently a seller's market. This is based on 8 active listings and 34 sales in the past 12 months.
How much are property taxes in Otter Lake?
Michigan property taxes in Otter Lake 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.
What does demographic data show about housing demand in Otter Lake?
Per U.S. Census ACS data, Otter Lake has a -10.7% Household Formation Gap over the past 15 years, indicating softening demographic demand. Population declined 34.7%, outpacing the effect of shrinking household sizes (2.82 to 2.06). HFG is a secondary market indicator — local conditions and other factors also influence housing demand.