Michigan
Lake County
ZIP 49656
12,393 residents30 permits TTM$49,680 median HHI6 ZIP codesUpdated April 16, 2026
Investor first look
Median home value
$122,900
ACS 5-Year
Cap rate proxy
8.4%
FMR × 0.65 ÷ Home Value
Rent-to-income
20.8%
HUD FMR ÷ ACS HHI
Net migration
+2.03%
IRS SOI
Permits (TTM)
30
Census BPS
Climate risk
22.0
FEMA NRI (0–100)
ZIP 49656
Median home value
$167,267
Gross yield
7.1%
Cap rate
6.2%
Rent gap
13.2%
Affordability
P/I: 3.4R/I: —
Section 8 detail
SAFMR: $994Rent: $863Gap: 15.2%
ZIP code breakdown6 ZIP codes
| ZIP | Median home value | Rent (FMR 2BR) | Gross yield | Cap rate | Rent gap |
|---|---|---|---|---|---|
| 49304 | $139,827 | $994 | 8.5% | 7.4% | 13.2% |
| 49402 | $198,598 | $994 | 6.0% | 5.2% | 13.2% |
| 49623 | $203,159 | $994 | 5.9% | 5.1% | 13.2% |
| 49642 | $122,900county est. | $994 | 9.7% | 8.4% | 13.2% |
| 49644 | $189,971 | $994 | 6.3% | 5.5% | 13.2% |
Ranked by composite score
Compare all ZIPs in Lake County
See all 6 ZIPs ranked by yield and cap rate
Compare yields, cap rates, rent gaps, and affordability across every ZIP. Free account.
- Sortable table — sort by yield, rent gap, affordability
- Drill into any ZIP for full detail
- Save markets and weekly market digest
Free · No credit card · No spam
1
ZIP comparison table. Showing 5 of 6 ZIPs. Sign up to see all.
Demographics
Owner-occupied
81.2%
Census ACS
Vacancy rate
63.3%
Census ACS
Bachelor's degree +
12.5%
Census ACS
Rent burdened
46.2%
Census ACS (>30% income)
Median age
50.3
Census ACS
U.S. Census Bureau — American Community Survey 5-Year Estimates
U.S. Census Bureau — Building Permits Survey
U.S. Department of Housing and Urban Development — Fair Market Rents / Small Area Fair Market Rents (SAFMR)
Internal Revenue Service — Statistics of Income Migration Data
FEMA — National Risk Index
Last updated: April 16, 2026