Realtors Predict House Prices Will Plummet in These 15 Popular Lake Towns

There are plenty of perks to living in a lakeside town, including a plethora of available outdoor and water activities at your fingertips. 

Unfortunately, many of these towns have become hot vacation spots, with housing prices that rose right along with their spike in popularity. 

Yet there are still lakeside towns around the country where it's easier to make your paycheck stretch a bit further.

We consulted realtors and other housing experts around the country to get the lowdown on lakeside areas where home prices are expected to drop or stay affordable in the coming months.

St. Clair Shores offers the best of both worlds, with proximity to both Lake St. Clair and Detroit. Home prices are generally affordable, according to Joe Muck, a real estate agent in metro Detroit, and they are expected to stay low so as a buyer, you'd keep more cash in your wallet.

"The city also boasts a ton of restaurants and nightlife options, and prices for real estate in the area hover in the $275k range," Muck says.

Oshkosh has been growing in popularity in recent years, according to Alexei Morgado, realtor and founder of Lexawise Real Estate Exam Preparation, but it's still possible to nab an affordable home.

"This quiet town on Lake Winnebago has a median home price of $347,000," Morgado notes. The charming area is known for its historic downtown and delightful waterfront.

Those interested in upstate New York living can consider Caroga Lake. The average sale price for homes is about $250,000, according to Redfin, and prices have come down significantly over the past year.

Located in the southern Adirondacks, the area is great for those who love to be out on the water year-round — and Caroga Lake also made Realtor.com's 2024 list of the most affordable lake towns.

Smart Drivers, Smarter Savings

Compare car insurance rates in Ohio

See if you qualify for a lower rate in less than 2 minutes

Check Rates

By clicking the button above, I understand and agree that this site uses site visit recording technology (provided by Trusted Form, Jornaya, and Microsoft Clarity) Privacy Policy

Andy LaPointe, a former real estate agent in northern Michigan who now offers courses for those looking to relocate to the area, points to Rogers City as an affordable and delightful option.

It's "located on the shores of Lake Huron and enjoys amazing sunrises," he says. LaPointe also notes that the average home price is around $145,000. Rogers City maintains a small-town feel while boasting proximity to larger, bustling areas, he adds.

Mount Dora and Lake Dora are big attractions for residents and visitors alike. "Mount Dora offers a historic downtown with an arts scene and is a great pick for families who like their lake lifestyle with culture," Morgado explains.

He does note that home prices in the town have gone up a bit recently, but "the surrounding areas are a lot more affordable, and prices will continue to adjust with the cooling market."

Ohio has several great options for those who want to live on (or close to) a lake on a budget, according to Jessica Lauren, a real estate investor with Fire Damaged House Aid.

The average home price was $172,000 in 2024, according to Redfin, and has dropped significantly over the past year. The town enjoys easy access to Lake Erie, but Lauren does note the nuclear plant in nearby Perry could be a deterrent for some.

"If that doesn't bother you, it's a potential paradise," Lauren says.

Another Michigan gem is Alpena, which is located on Thunder Bay. LaPointe points to the town's "strong maritime history and easy access to boating, fishing, and modern amenities."

What's more, while the town is up and coming, median home prices remain around $175,000.

Morgado says that those looking for access to Lake Okeechobee, Florida's largest freshwater lake, may want to check out the charming yet affordable town of Okeechobee City.

Okeechobee City offers "a peaceful, country way of life," he says, and average home prices — which hover around $300,000 currently — could drop in the coming months.

Lauren says her personal favorite affordable option in the Lake Erie region is Fairport Harbor. "It has a large inventory of old homes that could easily be renovated," she says. It also boasts "a historic lighthouse, maritime museum, and one of the largest beaches on Lake Erie."

According to Redfin, the average home price in Fairpoint is currently around $200,000.

LaPointe also recommends Manistique, located in the upper peninsula of Lake Michigan.

"The town offers easy access to the big lake, state land, and is the perfect town for those looking to enjoy small-town living," with easy access to towns like Escanaba with more amenities, he explains. Median house prices are around $145,000, according to LaPointe.

Clewiston, where average home prices sat around $330,000 at the start of 2025, is another delightful town on Florida's Lake Okeechobee that Morgado points to for potential bargain buyers.

"While generally more affordable than the coastal towns, the prices may soften further and offer buyers a chance to get some decent bargains," Morgado explains.

Another Wisconsin gem, Two Rivers is located on the shores of Lake Michigan and is allegedly the birthplace of the ice cream sundae.

Ice cream accolades aside, the median home price is $165,000, according to Morgado, and it's also known for its excellent fishing and fishing museum.

Another charming town in Ohio with access to Lake Erie is Ashtabula, where Redfin puts the median home price at just $113,508.

Lauren points out that the area is up-and-coming. "Just a few years ago, the main street was deserted," she says. "A brewery moved into an abandoned building, and a developer started two brick-front duplexes. The area then started the transformation."

In southern Louisiana, Lockport provides easy access to wetlands and bayous and could be a slam dunk for those looking to spend a good deal of time out on the water fishing, enjoying natural beauty, and the like.

According to Redfin, the median sale price for homes in the area is $65,000, down quite a bit from the previous year.

Fox Lake offers a mix of scenic views, easy lake access, and proximity to Chicago.

Low home prices will free up some cash to help pay for your bills whether you are in the market for a vacation home or simply looking to relocate somewhere with easy lake access and great nightlife.

Redfin puts the median home price at $208,000, a significant drop from last year.

It turns out, you can enjoy the perks of living in (or near) a vacation town with easy lake access and still build your wealth.

While real estate experts do warn that even more remote lake towns are seeing spikes in popularity, with some careful shopping around, it is still possible to find an excellent property for a bargain price.