There are currently 12,565 real estate properties in Lake Orion, MI, with a median automated valuation model (AVM) price of $340,152.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Lake Orion, MI, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Lake Orion, MI, is $376,461.00, with the most expensive house in Lake Orion, MI, topping out at $3,195,794.00 and the cheapest home in Lake Orion, MI, clocking in at $24,897.00. In other words, there’s something for every potential homebuyer or savvy investor in Lake Orion, MI!
With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Lake Orion, MI, is on a rollercoaster ride. The average rent price in Lake Orion, MI, is $1,734.00. Indeed, when looking to rent in Lake Orion, MI, you can expect to pay as little as $530.00 or as much as $3,220.00, with the average rent median estimated to be $1,700.00. The good news is that finding an affordable and desirable property to rent in Lake Orion, MI -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.
Lake Orion is located in Oakland, Michigan, with an estimated municipal population of 3,189 residents. All of the best foreclosed homes for sale in Lake Orion are located in the following zip code areas on Foreclosure.com: 48362 48361. The estimated population per square kilometer (.62 miles) in Lake Orion is 1,524.
So, about how much do homes cost in Lake Orion? The most recent median value of resident-owned homes in Lake Orion is 271,721. An estimated 72.2 percent of households in Lake Orion own their homes, with an average family size of 2.99. The median household income in Lake Orion is 90,099, with43 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Lake Orion, the median commute time of resident workers (in minutes) is 31.6. And last, but certainly not least, are you looking for homes to rent in Lake Orion? If so, the average rent price paid by renters in Lake Orion is 733, according to recent statistics.
Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to Lake Orion, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.
The median age of residents in Lake Orion is 41.7, split between 48.2 percent male versus 51.8 female. The percentage of residents who report being married in Lake Orion is 52.8, with an average family size of 2.99.
The percentage of residents who report their race in Lake Orion is as follows:
|Black / African American
|American Indian / Alaskan Native
|Native Hawaiian / Other Pacifc Islander
Looking for family-friendly neighborhoods in and/or near Lake Orion? Or maybe you are searching for 55+ active adult communities in and/or near Lake Orion?
The percentage of residents who report their age in Lake Orion is as follows:
It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in Lake Orion with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Lake Orion.
How do you know that living in -- or moving to -- Lake Orion is right where you need to be? Perhaps you grew up in Lake Orion or already live nearby; therefore, the decision to buy a home in Lake Orion is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Lake Orion for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.
Here are some questions to ask yourself when shopping for foreclosed homes for sale in Lake Orion:
In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Lake Orion.
Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Lake Orion can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Lake Orion, meanwhile, can field multiple offers from more qualified buyers.
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