New Era, MI Profile: Facts & Data

The Village of New Era had a population of 435 as of July 1, 2023. New Era ranks in the upper quartile for Diversity Index when compared to the other cities, towns and Census Designated Places (CDPs) in Michigan. See peer rankings below.

The primary coordinate point for New Era is located at latitude 43.5592 and longitude -86.3456 in Oceana County. The formal boundaries for the Village of New Era encompass a land area of 0.84 sq. miles and a water area of 0 sq. miles. Oceana County is in the Eastern time zone (GMT -5).

The Village of New Era 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.

New Era, MI Data & Demographics (As of July 1, 2023)

POPULATION
Total Population	435 (100%)
Population in Households	435 (100.0%)
Population in Families	365 (83.9%)
Population in Group Quarters¹	0
Population Density	519
Diversity Index²	57


INCOME
Median Household Income	$72,822
Average Household Income	$95,902
% of Income for Mortgage⁴	13%
Per Capita Income	$38,802
Wealth Index⁵	86
Socioeconomic Status Index⁶	Low (43.9)

HOUSING
Total HU (Housing Units)	186 (100%)
Owner Occupied HU	153 (82.3%)
Renter Occupied HU	23 (12.4%)
Vacant Housing Units	10 ( 5.4%)
Median Home Value	$158,125
Average Home Value	$201,797
Housing Affordability Index³	175

HOUSEHOLDS
Total Households	176
Average Household Size	2.47
Family Households	127
Average Family Size	3.00

NOTES

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.
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.
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.
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).
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.
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.

New Era, MI - Peer Comparisons by Rank and Percentile

The table below compares New Era 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.

GROWTH RATE / YEAR	2020-2023	2023-2028
Population	-0.77%	-0.51%
Households	0.18%	-0.11%
Families		0.00%
Median Household Income		3.37%
Per Capita Income		2.64%
Owner Occupied HU		-0.93%

Variable Description	Rank	Percentile
Total Population	# 565	24th
Population Density	# 511	32nd
Median Household Income	# 177	76th
Housing Affordability Index	# 652	88th
Per Capita Income	# 221	70th
Diversity Index	# 59	92nd

New Era, MI Profile: Facts & Data

New Era, Michigan - Basic Facts

New Era, MI Data & Demographics (As of July 1, 2023)

POPULATION

INCOME

HOUSING

HOUSEHOLDS

GROWTH RATE / YEAR

New Era, MI - Peer Comparisons by Rank and Percentile

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Oceana County