Charter Township Of Larkin MI Demographic Data and Boundary Map
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Charter Township Of Larkin, MI
The Charter Township Of Larkin is a County Subdivision of Midland County.
The subdivision has a T1 Census Class Code which indicates that the Charter Township Of Larkin is an active county subdivision that is not coextensive with an incorporated place.
Charter Township Of Larkin Data & Demographics (As of July 1, 2024)
POPULATION
Total Population
5,335 (100%)
Population in Households
5,335 (100.0%)
Population in Families
4,763 (89.3%)
Population in Group Quarters1
0
Population Density
167
Diversity Index2
26
INCOME
Median Household Income
$118,805
Average Household Income
$165,157
% of Income for Mortgage4
16%
Per Capita Income
$58,633
Wealth Index5
180
HOUSING
Total HU (Housing Units)
1,987 (100%)
Owner Occupied HU
1,661 (83.6%)
Renter Occupied HU
233 (11.7%)
Vacant Housing Units
93 ( 4.7%)
Median Home Value
$299,240
Average Home Value
$345,725
Housing Affordability Index3
143
HOUSEHOLDS
Total Households
1,894
Average Household Size
2.82000000000
Family Households
1,432
Average Family Size
3
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.
