Lake Odessa, MI Profile: Facts & Data

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Lake Odessa, Michigan - Basic Facts

The Village of Lake Odessa had a population of 1,987 as of July 1, 2023. 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.

The Village of Lake Odessa is located within Township of Odessa, a minor civil division (MCD) of Ionia County.


Jump to... (On This Page!)
  1. Lake Odessa 2023 Demographic Data
  2. Growth Rates for Lake Odessa (Historical & 5-Year Forecast)
  3. Peer Comparisons (Rank and Percentile)
  1. Neighborhoods Demographics (Home Values, Household Income, etc.)
  2. Michigan Research Tools (Easy Tools & Current Data)
  3. Michigan Data Comparison Tool - 2023 Demographics
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Lake Odessa, MI Data & Demographics (As of July 1, 2023)

POPULATION

Total Population 1,987 (100%)
Population in Households 1,978 (99.5%)
Population in Families 1,527 (76.8%)
Population in Group Quarters1 9 ( 0.5%)
Population Density 2,234
Diversity Index2 30
 
 

INCOME

Median Household Income $58,423
Average Household Income $75,895
% of Income for Mortgage4 15%
Per Capita Income $33,083
Wealth Index5 59
Socioeconomic Status Index6 Moderate (49.4)
 

HOUSING

Total HU (Housing Units) 947 (100%)
Owner Occupied HU 620 (65.5%)
Renter Occupied HU 246 (26.0%)
Vacant Housing Units 81 ( 8.6%)
Median Home Value $144,403
Average Home Value $163,548
Housing Affordability Index3 156
 

HOUSEHOLDS

Total Households 866
Average Household Size 2.28
Family Households 517
Average Family Size 3.00
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.
  6. 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.

GROWTH RATE / YEAR

2020-2023 2023-2028
Population -0.11% -0.42%
Households 0.11% -0.09%
Families   -0.19%
Median Household Income   2.57%
Per Capita Income   3.37%
Owner Occupied HU   -0.10%

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, 2023 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 # 303 59th
Population Density # 118 84th
Median Household Income # 367 51st
Housing Affordability Index # 572 77th
Per Capita Income # 370 50th
Diversity Index # 211 72nd

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

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