What is the median household income in Lake Township (Benzie County), MI?
The median household income in Lake Township (Benzie County), MI is $98,125 (±$20,401) a year (2020–2024 American Community Survey).
In Lake Township (Benzie County), the median household income went from $69,286 in 2015–2019 to $98,125 in 2020–2024 (+41.6%).
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
- $98,125 (±$20,401)
- Median renter income
- $50,750 (±$49,731)
Income in Lake Township (Benzie County) against Benzie County, its state and the nation
| Lake Township (Benzie County) | Benzie County | Michigan | United States | |
|---|---|---|---|---|
| Median household income | $98,125 (±$20,401) | $74,834 (±$3,104) | $72,875 (±$293) | $80,734 |
| Median renter household income | $50,750 (±$49,731) | $42,188 (±$18,029) | $42,352 (±$376) | $52,966 |
| Median owner household income | $102,778 (±$25,397) | $80,189 (±$3,906) | $87,130 (±$344) | $100,009 |
| Median gross rent | — | $1,026 (±$77) | $1,129 (±$4) | $1,413 |
In Lake Township (Benzie County), median household income is higher than in Benzie County ($74,834).
It is also higher than in Michigan ($72,875).
It is not measurably different from the national figure ($80,734).
In Benzie County, Lake Township (Benzie County) ranks 2 of 13 places with a published estimate, from highest to lowest median household income.
Statewide, it ranks 172 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 | $69,286 (±$19,119) | $98,125 (±$20,401) | +41.6% | No measurable change after inflation |
| Median home value | $455,800 (±$60,675) | $650,000 (±$78,924) | +42.6% | 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 Lake Township (Benzie County)
| Place | Distance | Median household income | Compared with this place |
|---|---|---|---|
| Lake Township (Benzie County) | — | $98,125 (±$20,401) | — |
| Benzonia Township | 4.0 mi | $72,500 (±$17,090) | Not measurably different |
| Crystal Lake Township | 5.5 mi | $69,913 (±$13,390) | Lower |
| Beulah | 6.2 mi | $71,000 (±$38,467) | Not measurably different |
| Frankfort | 6.7 mi | $54,327 (±$5,907) | Lower |
| Honor | 6.8 mi | $45,341 (±$20,941) | Lower |
| Benzonia | 6.9 mi | $61,875 (±$10,726) | Lower |
| Elberta | 7.7 mi | $114,375 (±$42,952) | Not measurably different |
| Platte Township | 7.7 mi | $91,250 (±$19,799) | Not measurably different |
Nearby places with a measurably lower figure: Crystal Lake Township, MI ($69,913), Frankfort, MI ($54,327), Honor, MI ($45,341).
Distance is measured in a straight line between the Census Bureau’s internal points for each place.
Median household income across Benzie County, place by place
| Rank | Place | Median household income |
|---|---|---|
| 1 | Gilmore Township (Benzie County) | $103,438 (±$20,573) |
| 2 | Lake Township (Benzie County) | $98,125 (±$20,401) |
| 3 | Platte Township | $91,250 (±$19,799) |
| 4 | Almira Township | $90,278 (±$11,034) |
| 5 | Inland Township | $80,759 (±$6,944) |
| 6 | Blaine Township | $75,313 (±$19,876) |
| 7 | Benzonia Township | $72,500 (±$17,090) |
| 8 | Crystal Lake Township | $69,913 (±$13,390) |
Showing 8 of 13 places in Benzie 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 Township (Benzie County)
What is the median household income in Lake Township (Benzie County)?
The median household income in Lake Township (Benzie County) is $98,125 (±$20,401) a year (2020–2024 American Community Survey).
Have incomes in Lake Township (Benzie County) kept up with inflation?
In Lake Township (Benzie County), the median household income went from $69,286 in 2015–2019 to $98,125 in 2020–2024 (+41.6%).
Prices (CPI-U) rose 22.7% over the same years; the change is not measurably different from the rise in prices.
What do renters earn in Lake Township (Benzie County)?
The median renting household in Lake Township (Benzie County), MI earns $50,750 (±$49,731) a year.
Sources
- Selected Economic Characteristics (DP03), 2020–2024 ACS 5-year estimates — Lake township, Benzie County, Michigan
- Median Household Income by Tenure (B25119), 2020–2024 ACS 5-year estimates — Lake township, Benzie County, Michigan
- Selected Housing Characteristics (DP04), 2020–2024 ACS 5-year estimates — Lake township, Benzie County, Michigan
- Median Household Income (B19013), 2015–2019 ACS 5-year estimates — Lake township, Benzie County, Michigan
- Median Gross Rent (B25064), 2015–2019 ACS 5-year estimates — Lake township, Benzie County, Michigan
- Median Value (B25077), 2015–2019 ACS 5-year estimates — Lake township, Benzie 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 Lake township, Benzie County, Michigan (county subdivision:44240, in state:26 county:019).
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 Lake Township (Benzie County) at a glance
- Home values in Lake Township (Benzie County)
- Homeowner costs in Lake Township (Benzie County)
- Property taxes in Lake Township (Benzie County)
- Types of homes in Lake Township (Benzie County)
- Bedrooms in Lake Township (Benzie County)
- Age of homes in Lake Township (Benzie County)
- Heating fuel in Lake Township (Benzie County)
- How long people stay in Lake Township (Benzie County)
- Michigan landlord and tenant rules
- Housing across Benzie County
- Michigan places ranked by median household income
- Housing data for every place in Michigan