Lake Odessa, MI Profile: Facts & Data

The Village of Lake Odessa had a population of 1,994 as of July 1, 2024. Lake Odessa ranks in the upper quartile for Population Density when compared to the other cities, towns and Census Designated Places (CDPs) in Michigan. See peer rankings below.

The primary coordinate point for Lake Odessa is located at latitude 42.7848 and longitude -85.1383 in Ionia County. The formal boundaries for the Village of Lake Odessa encompass a land area of 0.89 sq. miles and a water area of 0 sq. miles. Ionia County is in the Eastern time zone (GMT -5).

The Village of Lake Odessa 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.

Lake Odessa, MI Data & Demographics (As of July 1, 2024)

POPULATION
Total Population	1,994 (100%)
Population in Households	1,986 (99.6%)
Population in Families	1,554 (77.9%)
Population in Group Quarters¹	8 ( 0.4%)
Population Density	2,242
Diversity Index²	32


INCOME
Median Household Income	$76,924
Average Household Income	$87,607
% of Income for Mortgage⁴	15%
Per Capita Income	$38,054
Wealth Index⁵	78
Socioeconomic Status Index⁶	Moderate (49.4)

HOUSING
Total HU (Housing Units)	953 (100%)
Owner Occupied HU	694 (72.8%)
Renter Occupied HU	172 (18.0%)
Vacant Housing Units	87 ( 9.1%)
Median Home Value	$184,859
Average Home Value	$211,455
Housing Affordability Index³	158

HOUSEHOLDS
Total Households	866
Average Household Size	2.29
Family Households	546
Average Family Size	3.00

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.
The Socioeconomic Index ranges from zero (lowest relative status) to 100 (highest relative status). This measure quantifies disparities in social position of an area's inhabitants and is built from a broad range of demographic, housing, and socioeconomic inputs. More information on this measure can be found in Esri's SEI tutorial.

Lake Odessa, MI - Peer Comparisons by Rank and Percentile

The table below compares Lake Odessa to the other 745 incorporated cities, towns and CDPs in Michigan by rank and percentile using July 1, 2024 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	2020-2024	2024-2029
Population	0.00%	-0.21%
Households	0.08%	0.05%
Families		-0.22%
Median Household Income		2.07%
Per Capita Income		3.35%
Owner Occupied HU		0.20%

Variable Description	Rank	Percentile
Total Population	# 298	60th
Population Density	# 116	85th
Median Household Income	# 200	73rd
Housing Affordability Index	# 616	83rd
Per Capita Income	# 294	61st
Diversity Index	# 202	73rd

Lake Odessa, MI Profile: Facts & Data

Lake Odessa, Michigan - Basic Facts

Lake Odessa, MI Data & Demographics (As of July 1, 2024)

POPULATION

INCOME

HOUSING

HOUSEHOLDS

GROWTH RATE / YEAR

Lake Odessa, MI - Peer Comparisons by Rank and Percentile

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Ionia County