What is the median household income in Elk Township (Lake County), MI?
The median household income in Elk Township (Lake County), MI is $56,438 (±$5,957) a year (2020–2024 American Community Survey).
In Elk Township (Lake County), the median household income went from $47,292 in 2015–2019 to $56,438 in 2020–2024 (+19.3%).
Prices (CPI-U) rose 22.7% over the same years; the change is not measurably different from the rise in prices.
Figures last updated on .
- Median household income
- $56,438 (±$5,957)
Income in Elk Township (Lake County) against Lake County, its state and the nation
| Elk Township (Lake County) | Lake County | Michigan | United States | |
|---|---|---|---|---|
| Median household income | $56,438 (±$5,957) | $50,805 (±$2,404) | $72,875 (±$293) | $80,734 |
| Median renter household income | — | $30,114 (±$11,641) | $42,352 (±$376) | $52,966 |
| Median owner household income | $57,125 (±$7,126) | $54,121 (±$3,691) | $87,130 (±$344) | $100,009 |
| Median gross rent | — | $875 (±$90) | $1,129 (±$4) | $1,413 |
In Elk Township (Lake County), median household income is not measurably different from Lake County ($50,805).
It is also lower than in Michigan ($72,875).
It is lower than the national figure ($80,734).
In Lake County, Elk Township (Lake County) ranks 4 of 15 places with a published estimate, from highest to lowest median household income.
Statewide, it ranks 1186 of 1,517.
Rankings use the estimates alone; where margins of error overlap, neighboring ranks may not truly differ.
Income against housing costs since 2015–2019
| 2015–2019 | 2020–2024 | Amount of change | Verdict | |
|---|---|---|---|---|
| Median household income | $47,292 (±$7,001) | $56,438 (±$5,957) | +19.3% | No measurable change after inflation |
| Median home value | $144,400 (±$15,487) | $181,900 (±$48,624) | +26.0% | No measurable change after inflation |
The Census Bureau publishes 2015–2019 dollars in 2019 dollars and 2020–2024 dollars in 2024 dollars.
Prices (the CPI-U, US Bureau of Labor Statistics) rose 22.7% between 2019 and 2024, so a dollar figure’s verdict compares the two after raising the earlier one by that much, using the Census Bureau’s test for a difference.
The two periods do not overlap, as the Census Bureau recommends for 5-year estimates.
Median household income in places near Elk Township (Lake County)
| Place | Distance | Median household income | Compared with this place |
|---|---|---|---|
| Elk Township (Lake County) | — | $56,438 (±$5,957) | — |
| Norman Township | 5.7 mi | $63,634 (±$3,549) | Higher |
| Meade Township (Mason County) | 5.9 mi | $61,333 (±$1,739) | Not measurably different |
| Eden Township (Lake County) | 6.0 mi | $58,750 (±$15,444) | Not measurably different |
| Sauble Township | 6.4 mi | $37,500 (±$6,392) | Lower |
| Sheridan Township (Mason County) | 7.5 mi | $61,563 (±$12,640) | Not measurably different |
| Peacock Township | 9.3 mi | $52,679 (±$20,726) | Not measurably different |
| Stronach Township | 10 mi | $80,417 (±$21,844) | Higher |
| Fountain | 11 mi | $58,750 (±$29,540) | Not measurably different |
Nearby places with a measurably lower figure: Sauble Township, MI ($37,500).
Nearby places with a measurably higher figure: Norman Township, MI ($63,634), Stronach Township, MI ($80,417).
Distance is measured in a straight line between the Census Bureau’s internal points for each place.
Median household income across Lake County, place by place
| Rank | Place | Median household income |
|---|---|---|
| 1 | Pinora Township | $63,289 (±$7,221) |
| 2 | Chase Township | $61,563 (±$8,375) |
| 3 | Eden Township (Lake County) | $58,750 (±$15,444) |
| 4 | Elk Township (Lake County) | $56,438 (±$5,957) |
| 5 | Newkirk Township | $56,268 (±$1,064) |
| 6 | Dover Township (Lake County) | $55,714 (±$9,618) |
| 7 | Cherry Valley Township | $53,750 (±$15,695) |
| 8 | Ellsworth Township | $53,333 (±$11,984) |
| 9 | Peacock Township | $52,679 (±$20,726) |
| 10 | Lake Township (Lake County) | $52,008 (±$5,518) |
Showing 10 of 15 places in Lake County, ranked from highest to lowest.
Survey years: 2020–2024 (American Community Survey 5-year estimates), compared with 2015–2019.
Margins of error are at the 90% confidence level.
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Questions about Elk Township (Lake County)
What is the median household income in Elk Township (Lake County)?
The median household income in Elk Township (Lake County) is $56,438 (±$5,957) a year (2020–2024 American Community Survey).
Have incomes in Elk Township (Lake County) kept up with inflation?
In Elk Township (Lake County), the median household income went from $47,292 in 2015–2019 to $56,438 in 2020–2024 (+19.3%).
Prices (CPI-U) rose 22.7% over the same years; the change is not measurably different from the rise in prices.
Sources
- Selected Economic Characteristics (DP03), 2020–2024 ACS 5-year estimates — Elk township, Lake County, Michigan
- Median Household Income by Tenure (B25119), 2020–2024 ACS 5-year estimates — Elk township, Lake County, Michigan
- Selected Housing Characteristics (DP04), 2020–2024 ACS 5-year estimates — Elk township, Lake County, Michigan
- Median Household Income (B19013), 2015–2019 ACS 5-year estimates — Elk township, Lake County, Michigan
- Median Gross Rent (B25064), 2015–2019 ACS 5-year estimates — Elk township, Lake County, Michigan
- Median Value (B25077), 2015–2019 ACS 5-year estimates — Elk township, Lake County, Michigan
- Consumer Price Index for All Urban Consumers (CPI-U), US city average, all items, US Bureau of Labor Statistics: annual averages 2019 and 2024
To check these figures in the Census Bureau’s own API, request the variables below from the 2024 ACS 5-year data profile (acs/acs5/profile) and detailed tables (acs/acs5) for Elk township, Lake County, Michigan (county subdivision:25260, in state:26 county:085).
Each estimate (E or PE) has a margin of error beside it (M or PM).
The 2015–2019 figures are B19013_001E, B19013_001M, B25064_001E, B25064_001M, B25077_001E, B25077_001M from the 2019 release.
The API needs a free key.
DP03_0062E, DP03_0062M, B25119_003E, B25119_003M, B25119_002E, B25119_002M, DP04_0134E, DP04_0134M
This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.
Figures are published by the US Census Bureau, HUD, the Bureau of Labor Statistics and the FBI; Seayora reproduces them and does not adjust them, except where a sentence says it compares dollar figures after inflation. They describe the whole place, not any one building or street, and are not an appraisal, a rent determination, a tax bill, a safety rating or legal advice.
Figures last updated on .
Related
- Housing in Elk Township (Lake County) at a glance
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- Michigan landlord and tenant rules
- Housing across Lake County
- Michigan places ranked by median household income
- Housing data for every place in Michigan