Elizabeth Lake is an unincorporated community in Oakland County in the U.S. state of Michigan.

As an unincorporated community, Elizabeth Lake has no legally defined area or population statistics of its own, and it uses the Waterford 48328 ZIP Code.

In 1834, the first post office was established in Waterford Township on the north shore of Elizabeth Lake.

Its first postmaster was an American Revolutionary War veteran[3] named William Terry (b.1760-d.1840), who came to Michigan in 1824.

[5] Elizabeth Lake was named for the nearby lake, which was named for Elizabeth Cass, the wife of Territorial Governor of Michigan Lewis Cass.