Lost Lake Woods, MI Profile: Facts & Data

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Lost Lake Woods, Michigan - Basic Facts

The Lost Lake Woods Census Designated Place had a population of 299 as of July 1, 2020. Lost Lake Woods ranks in the lower quartile for Population Density and 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 Lost Lake Woods is located at latitude 44.777 and longitude -83.4244 in Alcona County. The formal boundaries for the Lost Lake Woods Census Designated Place encompass a land area of 5.05 sq. miles and a water area of 0.14 sq. miles. Alcona County is in the Eastern time zone (GMT -5). The elevation is 860 feet.

The Lost Lake Woods Census Designated Place (GNIS ID: 2393109) has a U1 Census Class Code which indicates a census designated place with an official federally recognized name. It also has a Functional Status Code of "S" which identifies a statistical entity.

The Lost Lake Woods Census Designated Place is located within Township of Alcona, a minor civil division (MCD) of Alcona County.


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Lost Lake Woods, MI Data & Demographics (As of July 1, 2020)

POPULATION

Total Population 299 (100%)
Population in Households 299 (100.0%)
Population in Families 234 (78.3%)
Population in Group Quarters1 0
Population Density 59
Diversity Index2 4
 
 

INCOME

Median Household Income $56,542
Average Household Income $68,546
% of Income for Mortgage4 13%
Per Capita Income $37,890
Wealth Index5 111
 

HOUSING

Total HU (Housing Units) 530 (100%)
Owner Occupied HU 154 (29.1%)
Renter Occupied HU 13 ( 2.5%)
Vacant Housing Units 364 (68.7%)
Median Home Value $168,548
Average Home Value $214,839
Housing Affordability Index3 202
 

HOUSEHOLDS

Total Households 166
Average Household Size 1.8
Family Households 106
Average Family Size 2
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.

GROWTH RATE / YEAR

2010-2020 2020-2025
Population -0.41% -0.4%
Households -0.4% -0.24%
Families -0.79% -0.38%
Median Household Income   0.68%
Per Capita Income   1.7%
Owner Occupied HU   -0.26%

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Lost Lake Woods, MI - Peer Comparisons by Rank and Percentile

The table below compares Lost Lake Woods to the other 692 incorporated cities, towns and CDPs in Michigan by rank and percentile using July 1, 2020 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 # 614 11th
Population Density # 686 1st
Median Household Income # 246 65th
Housing Affordability Index # 273 39th
Per Capita Income # 100 86th
Diversity Index # 687 1st

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

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