Houghton Lake, MI vs Parchment, MI

Houghton Lake is moderately more affordable than Parchment, with a 14.9% lower cost of living index. Houghton Lake scores 67 compared to 79 for Parchment, where the US average is 100. This difference means residents of Parchment can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Houghton Lake is $791/month compared to $1,024/month in Parchment — a 23% difference. Home values follow the same pattern: Houghton Lake is more affordable at $122,800 median vs $178,400.

Median household income in Houghton Lake is $50,861 compared to $54,572 in Parchment (-6.8%). Parchment does offer higher incomes, but the salary premium barely offsets the higher cost of living, leaving residents with a tighter budget. Looking at affordability, residents of Houghton Lake spend roughly 18.7% of their income on rent, less than the 22.5% in Parchment.