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New Report Fall 2026 Housing Affordability Report: every state is less affordable than in late August as average 30-year mortgage rates passed 7%. Read the report

Carp Lake, MI Housing Affordability Index

Carp Lake, Michigan has an MBR Housing Affordability Index score of 84.4 (Moderately Less Affordable) as of October 30, 2026, ranking 603rd most affordable of 629 scored Michigan cities, compared with 108.6 statewide and 97.4 nationally. On a median-priced $180,000 home with 20% down, the Michigan average 30-year fixed rate of 7.31% means a monthly principal and interest payment of about $988, or 43% of the city’s $27,474 median household income.

The MBR Housing Affordability Index (MBR-HAI) for Carp Lake is updated every night from live Michigan mortgage rates and U.S. Census Bureau income, home value and housing cost data for the city. A score of 100 equals the national average; higher scores mean homeownership is more affordable.

Carp Lake MBR-HAI 84.4 Moderately Less Affordable
Rank in Michigan 603 of 629 1 = most affordable
Michigan 108.6 Statewide score
National 97.4 100 = baseline
Avg 30-yr rate 7.31% Michigan lenders
Median home value $180,000 U.S. Census Bureau

Carp Lake is 24.3 points below the Michigan score. Scores as of October 30, 2026. See the Michigan index

View Carp Lake Mortgage Rates

What It Takes to Buy in Carp Lake

$988/mo
Principal & Interest
Median home, 20% down, 7.31%
$42,300
Income Needed
To keep the payment at 28% of income
$27,474
Median Household Income
Michigan: $72,875
6.6x
Price-to-Income Ratio
Michigan: 3.2x
$788/mo
Median Owner Costs
Mortgage, taxes, insurance, utilities
$2,423/yr
Median Property Tax
1.35% of median value
22.6%
Owner Cost Burden
Owners spending 30%+ of income on housing
17.0%
Renter Cost Burden
Renters spending 30%+ of income on rent

Source: U.S. Census Bureau American Community Survey 5-Year Estimates (2024) for Carp Lake, Michigan. The rate is the Michigan average 30-year fixed rate from MonitorBankRates, since lenders publish rates by state.

Cite the Carp Lake Score

“MonitorBankRates (MBR) Housing Affordability Index, MonitorBankRates.com, October 30, 2026. Carp Lake, Michigan score: 84.4 (Moderately Less Affordable), ranked 603 of 629 Michigan cities. monitorbankrates.com/housing-affordability-index/michigan/carp-lake”