States › Michigan › Lake Fenton

Is Lake Fenton, MI expensive to live in?

CheapRent takes 16 cents of every $1 people earn here.
🏠 Rent per month (2026)$1,7112% lower than U.S. average
💵 Families earn per year (2026)$125,486about $10,457/month · 44% higher than U.S. average
🔑 House price$396,80019% higher than U.S. average

Rent is higher than in 53% of U.S. cities. A typical house costs about 3.2 years of household income. Most homes (87.4%) are owned, so rentals can be hard to find.

How much money do I need?

To rent here comfortably, you should earn about $68,440 a year. That is $33 an hour at a full-time job.

Is rent cheaper than other Michigan cities?

No. Rent here is more expensive than in most of Michigan. It is number 144 of 179 cities from cheapest to most expensive.

Lake Fenton
$1,711
New Haven
$1,402
Milford
$1,297
Huntington Woods
$2,757
Manistee
$849
Rockford
$1,229
Ishpeming
$811

How much do households earn in Lake Fenton?

Under $25k
3.3%
$25k–50k
21.5%
$50k–100k
26.1%
$100k–150k
20.5%
$150k+
27.7%

Share of households by yearly income. 48.3% of households earn $100,000 or more.

Rent by apartment size in Lake Fenton

SizeLake FentonU.S. average
1 bedroom$1,783$1,324
2 bedrooms$1,703$1,509

Median monthly rent plus utilities for all renters, by number of bedrooms.

How expensive is Lake Fenton overall?

Everyday prices in Michigan overall are 4% below the U.S. average (index 96.2, U.S. = 100).

Housing
82
Goods (food, clothes…)
96
Utilities
100
Other services
101
U.S. average
100

Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Lake Fenton, so the Michigan figure is shown.

Taxes and bills in Lake Fenton

🏛️ Property tax$4,675a year · 1.18% of home value · U.S. $3,119
⚡ Electric bill$215a month (typical) · U.S. $156

Life in Lake Fenton

Commute to work29.9 minU.S.: 26.4 min
College degree48%U.S.: 35.7%
Own their home87.4%U.S.: 65.2%
Below poverty line7.2%U.S.: 12.5%
Unemployment4.5%U.S.: 5.2%

Is it cheaper to rent or buy in Lake Fenton?

Renting is cheaper right now: about $1,042 a month less.

Renting
$1,711
Owning
$2,753

Owning assumes a typical $396,800 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $39,680 for the down payment.

Frequently asked questions

What is the average rent in Lake Fenton, MI?

Renting in Lake Fenton costs a median of about $1,711 a month in 2026, including utilities. The Michigan median is $1,314.

How much do I need to make to live in Lake Fenton?

To keep rent under 30% of income, you need about $68,440 a year, or $33 an hour at a full-time job.

Is Lake Fenton cheap or expensive?

Lake Fenton is rated Cheap: rent takes 16.4% of the typical household income of $125,486. It ranks 144th cheapest of 179 Michigan cities we track.

How much are property taxes in Lake Fenton?

The median homeowner in Lake Fenton pays $4,675 a year in property taxes, about 1.18% of the median home value.

Is Lake Fenton more expensive than the national average?

Overall prices in Michigan are 4% below the U.S. average, according to the U.S. Bureau of Economic Analysis.

How much does a house cost in Lake Fenton?

The median home value in Lake Fenton is $396,800, about 3.2 times the typical yearly household income.

6,417 people live in Lake Fenton. Numbers are typical (middle) values.