Fife Lake, MI Profile: Facts & Data

The primary coordinate point for Fife Lake is located at latitude 44.577 and longitude -85.3506 in Grand Traverse County. The formal boundaries for the Village of Fife Lake encompass a land area of 0.75 sq. miles and a water area of 0.45 sq. miles. Grand Traverse County is in the Eastern time zone (GMT -5). The elevation is 1,060 feet.

The Village of Fife Lake (GNIS ID: 2398875) 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.

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

POPULATION
Total Population	484 (100%)
Population in Households	484 (100.0%)
Population in Families	381 (78.7%)
Population in Group Quarters¹	0
Population Density	666
Diversity Index²	13


INCOME
Median Household Income	$61,001
Average Household Income	$81,098
% of Income for Mortgage⁴	10%
Per Capita Income	$33,269
Wealth Index⁵	82

HOUSING
Total HU (Housing Units)	286 (100%)
Owner Occupied HU	162 (56.6%)
Renter Occupied HU	45 (15.7%)
Vacant Housing Units	79 (27.6%)
Median Home Value	$149,107
Average Home Value	$184,202
Housing Affordability Index³	256

HOUSEHOLDS
Total Households	207
Average Household Size	2.34
Family Households	137
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.

Fife Lake, MI - Peer Comparisons by Rank and Percentile

The table below compares Fife Lake 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.

GROWTH RATE / YEAR	2010-2020	2020-2025
Population	0.87%	0.89%
Households	0.89%	0.95%
Families	2.16%	0.72%
Median Household Income		1.55%
Per Capita Income		1.49%
Owner Occupied HU		0.97%

Variable Description	Rank	Percentile
Total Population	# 543	22nd
Population Density	# 461	34th
Median Household Income	# 175	75th
Housing Affordability Index	# 519	75th
Per Capita Income	# 162	77th
Diversity Index	# 495	29th

Fife Lake, MI Profile: Facts & Data

Fife Lake, Michigan - Basic Facts

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

POPULATION

INCOME

HOUSING

HOUSEHOLDS

GROWTH RATE / YEAR

Fife Lake, MI - Peer Comparisons by Rank and Percentile

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