Waldron, MI Profile: Facts & Data

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Waldron, Michigan - Basic Facts

The Village of Waldron had a population of 518 as of July 1, 2020. Waldron ranks in the lower 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 Waldron is located at latitude 41.7278 and longitude -84.4188 in Hillsdale County. The formal boundaries for the Village of Waldron encompass a land area of 1 sq. miles and a water area of 0 sq. miles. Hillsdale County is in the Eastern time zone (GMT -5). The elevation is 902 feet.

The Village of Waldron (GNIS ID: 2400084) 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.

The Village of Waldron is located within Township of Wright, a minor civil division (MCD) of Hillsdale County.


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

POPULATION

Total Population 518 (100%)
Population in Households 518 (100.0%)
Population in Families 420 (81.1%)
Population in Group Quarters1 0
Population Density 518
Diversity Index2 11
 
 

INCOME

Median Household Income $43,750
Average Household Income $57,980
% of Income for Mortgage4 7%
Per Capita Income $23,205
Wealth Index5 50
 

HOUSING

Total HU (Housing Units) 253 (100%)
Owner Occupied HU 142 (56.1%)
Renter Occupied HU 64 (25.3%)
Vacant Housing Units 46 (18.2%)
Median Home Value $77,128
Average Home Value $120,105
Housing Affordability Index3 320
 

HOUSEHOLDS

Total Households 207
Average Household Size 2.5
Family Households 137
Average Family Size 3
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 -0.37% -0.15%
Households -0.19% -0.19%
Families 0.0% -0.29%
Median Household Income   2.47%
Per Capita Income   2.33%
Owner Occupied HU   -0.14%

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Waldron, MI - Peer Comparisons by Rank and Percentile

The table below compares Waldron 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 # 528 24th
Population Density # 512 26th
Median Household Income # 496 28th
Housing Affordability Index # 666 96th
Per Capita Income # 497 28th
Diversity Index # 571 17th

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

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