What is the median household income in Lake City, MI?
The median household income in Lake City, MI is $74,583 (±$12,805) a year (2020–2024 American Community Survey).
Paying the median gross rent of $710 a month would take about $28,400 a year at the common guideline of spending no more than 30% of income on rent.
In Lake City, the median household income went from $45,714 in 2015–2019 to $74,583 in 2020–2024 (+63.2%).
Prices (CPI-U) rose 22.7% over the same years, so it rose faster than prices: a measurable increase after inflation.
Figures last updated on .
- Median household income
- $74,583 (±$12,805)
- Income to afford median rent
- about $28,400
Income in Lake City against Missaukee County, its state and the nation
| Lake City | Missaukee County | Michigan | United States | |
|---|---|---|---|---|
| Median household income | $74,583 (±$12,805) | $66,194 (±$5,534) | $72,875 (±$293) | $80,734 |
| Median renter household income | — | $35,909 (±$2,692) | $42,352 (±$376) | $52,966 |
| Median owner household income | $79,688 (±$14,659) | $72,458 (±$3,185) | $87,130 (±$344) | $100,009 |
| Median gross rent | $710 (±$108) | $891 (±$57) | $1,129 (±$4) | $1,413 |
In Lake City, median household income is not measurably different from Missaukee County ($66,194).
It is not measurably different from Michigan ($72,875).
It is not measurably different from the national figure ($80,734).
In Missaukee County, Lake City ranks 2 of 17 places with a published estimate, from highest to lowest median household income.
Statewide, it ranks 599 of 1,517.
Rankings use the estimates alone; where margins of error overlap, neighboring ranks may not truly differ.
How much you need to earn to rent in Lake City
Many landlords and housing programs use 30% of gross income as the most a household should spend on rent.
At that guideline, the median gross rent of $710 a month ($8,520 a year) needs an income of about $28,400 a year.
This is arithmetic on the published medians, not a rule any landlord must follow; screening criteria vary and some places limit how income may be weighed.
Income against housing costs since 2015–2019
| 2015–2019 | 2020–2024 | Amount of change | Verdict | |
|---|---|---|---|---|
| Median household income | $45,714 (±$4,063) | $74,583 (±$12,805) | +63.2% | Up after inflation |
| Median gross rent | $613 (±$89) | $710 (±$108) | +15.8% | No measurable change after inflation |
| Median home value | $94,500 (±$16,620) | $170,300 (±$13,276) | +80.2% | Up 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 Lake City
| Place | Distance | Median household income | Compared with this place |
|---|---|---|---|
| Lake City | — | $74,583 (±$12,805) | — |
| Reeder Township | 3.9 mi | $69,000 (±$11,648) | Not measurably different |
| Forest Township (Missaukee County) | 4.2 mi | $52,581 (±$2,401) | Lower |
| Lake Township (Missaukee County) | 4.3 mi | $72,917 (±$6,076) | Not measurably different |
| Caldwell Township | 4.5 mi | $54,250 (±$7,621) | Lower |
| Aetna Township (Missaukee County) | 8.4 mi | $61,250 (±$11,877) | Not measurably different |
| Riverside Township | 8.5 mi | $72,188 (±$14,218) | Not measurably different |
| Richland Township (Missaukee County) | 8.8 mi | $88,295 (±$14,795) | Not measurably different |
| McBain | 9.2 mi | $47,083 (±$18,044) | Lower |
Nearby places with a measurably lower figure: Forest Township (Missaukee County), MI ($52,581), Caldwell Township, MI ($54,250), McBain, MI ($47,083).
Distance is measured in a straight line between the Census Bureau’s internal points for each place.
Median household income across Missaukee County, place by place
| Rank | Place | Median household income |
|---|---|---|
| 1 | Richland Township (Missaukee County) | $88,295 (±$14,795) |
| 2 | Lake City | $74,583 (±$12,805) |
| 3 | Bloomfield Township (Missaukee County) | $73,295 (±$9,026) |
| 4 | Lake Township (Missaukee County) | $72,917 (±$6,076) |
| 5 | Riverside Township | $72,188 (±$14,218) |
| 6 | Reeder Township | $69,000 (±$11,648) |
| 7 | Aetna Township (Missaukee County) | $61,250 (±$11,877) |
| 8 | West Branch Township (Missaukee County) | $58,917 (±$4,410) |
Showing 8 of 17 places in Missaukee 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 Lake City
What is the median household income in Lake City?
The median household income in Lake City is $74,583 (±$12,805) a year (2020–2024 American Community Survey).
How much do you need to make to afford rent in Lake City?
About $28,400 a year, if rent is to stay at or below 30% of income at the median gross rent of $710 a month.
Have incomes in Lake City kept up with inflation?
In Lake City, the median household income went from $45,714 in 2015–2019 to $74,583 in 2020–2024 (+63.2%).
Prices (CPI-U) rose 22.7% over the same years, so it rose faster than prices: a measurable increase after inflation.
Sources
- Selected Economic Characteristics (DP03), 2020–2024 ACS 5-year estimates — Lake City city, Michigan
- Median Household Income by Tenure (B25119), 2020–2024 ACS 5-year estimates — Lake City city, Michigan
- Selected Housing Characteristics (DP04), 2020–2024 ACS 5-year estimates — Lake City city, Michigan
- Median Household Income (B19013), 2015–2019 ACS 5-year estimates — Lake City city, Michigan
- Median Gross Rent (B25064), 2015–2019 ACS 5-year estimates — Lake City city, Michigan
- Median Value (B25077), 2015–2019 ACS 5-year estimates — Lake City city, 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 Lake City city, Michigan (place:44480, in state:26).
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
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- Home values in Lake City
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- Michigan landlord and tenant rules
- Housing across Missaukee County
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- Housing data for every place in Michigan