Township Of Otsego Lake MI Demographic Data and Boundary Map
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Township Of Otsego Lake, MI
The Township Of Otsego Lake is a County Subdivision of Otsego County.
The subdivision has a T1 Census Class Code which indicates that the Township Of Otsego Lake is an active county subdivision that is not coextensive with an incorporated place.
Township Of Otsego Lake Data & Demographics (As of July 1, 2024)
POPULATION
Total Population
2,944 (100%)
Population in Households
2,935 (99.7%)
Population in Families
2,393 (81.3%)
Population in Group Quarters1
9 ( 0.3%)
Population Density
90
Diversity Index2
18
INCOME
Median Household Income
$81,040
Average Household Income
$98,879
% of Income for Mortgage4
19%
Per Capita Income
$44,440
Wealth Index5
90
HOUSING
Total HU (Housing Units)
2,293 (100%)
Owner Occupied HU
1,128 (49.2%)
Renter Occupied HU
195 ( 8.5%)
Vacant Housing Units
970 (42.3%)
Median Home Value
$241,707
Average Home Value
$273,338
Housing Affordability Index3
131
HOUSEHOLDS
Total Households
1,323
Average Household Size
2.22000000000
Family Households
880
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.
