Otter Lake, MI Profile: Facts & Data

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Otter Lake, Michigan - Basic Facts

The Village of Otter Lake had a population of 428 as of July 1, 2023.

The primary coordinate point for Otter Lake is located at latitude 43.2134 and longitude -83.4544 in Lapeer County. The formal boundaries for the Village of Otter Lake encompass a land area of 0.76 sq. miles and a water area of 0.08 sq. miles. Lapeer County is in the Eastern time zone (GMT -5).

The Village of Otter Lake has a C1 Census Class Code which indicates an active incorporated place that does not serve as a county subdivision equivalent. It also has a Functional Status Code of "A" which identifies an active government providing primary general-purpose functions.

The Village of Otter Lake is located within Township of Marathon, a minor civil division (MCD) of Lapeer County.


Jump to... (On This Page!)
  1. Otter Lake 2023 Demographic Data
  2. Growth Rates for Otter Lake (Historical & 5-Year Forecast)
  3. Peer Comparisons (Rank and Percentile)
  1. Neighborhoods Demographics (Home Values, Household Income, etc.)
  2. Michigan Research Tools (Easy Tools & Current Data)
  3. Michigan Data Comparison Tool - 2023 Demographics
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Otter Lake, MI Data & Demographics (As of July 1, 2023)

POPULATION

Total Population 428 (100%)
Population in Households 428 (100.0%)
Population in Families 383 (89.5%)
Population in Group Quarters1 0
Population Density 567
Diversity Index2 30
 
 

INCOME

Median Household Income $66,084
Average Household Income $73,025
% of Income for Mortgage4 14%
Per Capita Income $24,910
Wealth Index5 55
Socioeconomic Status Index6 Moderate (47.0)
 

HOUSING

Total HU (Housing Units) 176 (100%)
Owner Occupied HU 134 (76.1%)
Renter Occupied HU 12 ( 6.8%)
Vacant Housing Units 30 (17.0%)
Median Home Value $154,762
Average Home Value $210,634
Housing Affordability Index3 162
 

HOUSEHOLDS

Total Households 146
Average Household Size 2.93
Family Households 134
Average Family Size 3.00
NOTES
  1. Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
  2. The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different races or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
  3. The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
  4. The % of Income for Mortgage quantifies the percentage of median household income dedicated to mortgage payments on a home priced at the median value (assuming a 30-year mortgage and a 20% down payment).
  5. The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.
  6. The Socioeconomic Index ranges from zero (lowest relative status) to 100 (highest relative status). This measure quantifies disparities in social position of an area's inhabitants and is built from a broad range of demographic, housing, and socioeconomic inputs. More information on this measure can be found in Esri's SEI tutorial.

GROWTH RATE / YEAR

2020-2023 2023-2028
Population 0.14% -0.66%
Households 0.21% -0.14%
Families   -0.30%
Median Household Income   0.88%
Per Capita Income   3.30%
Owner Occupied HU   0.00%

Otter Lake, MI - Peer Comparisons by Rank and Percentile

The table below compares Otter Lake to the other 745 incorporated cities, towns and CDPs in Michigan by rank and percentile using July 1, 2023 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.

Variable Description Rank Percentile
Total Population # 566 24th
Population Density # 497 33rd
Median Household Income # 244 67th
Housing Affordability Index # 605 81st
Per Capita Income # 653 12th
Diversity Index # 222 70th

Additional comparisons and rankings can be made with a VERY EASY TO USE Michigan Census Data Comparison Tool.

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