Bear Lake, MI Profile: Facts & Data

Bear Lake, Michigan - Basic Facts

The Village of Bear Lake had a population of 345 as of July 1, 2024.

The primary coordinate point for Bear Lake is located at latitude 44.4208 and longitude -86.1481 in Manistee County. The formal boundaries for the Village of Bear Lake encompass a land area of 0.31 sq. miles and a water area of 0.03 sq. miles. Manistee County is in the Eastern time zone (GMT -5).

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

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

POPULATION
Total Population	345 (100%)
Population in Households	345 (100.0%)
Population in Families	276 (80.0%)
Population in Group Quarters¹	0
Population Density	1,093
Diversity Index²	30


INCOME
Median Household Income	$64,612
Average Household Income	$84,660
% of Income for Mortgage⁴	21%
Per Capita Income	$32,883
Wealth Index⁵	77
Socioeconomic Status Index⁶	Moderate (55.2)

HOUSING
Total HU (Housing Units)	171 (100%)
Owner Occupied HU	122 (71.3%)
Renter Occupied HU	12 ( 7.0%)
Vacant Housing Units	37 (21.6%)
Median Home Value	$220,833
Average Home Value	$287,705
Housing Affordability Index³	112

HOUSEHOLDS
Total Households	134
Average Household Size	2.57
Family Households	84
Average Family Size	3.00

HOUSING

Total HU (Housing Units)

171 (100%)

Owner Occupied HU

122 (71.3%)

Renter Occupied HU

12 ( 7.0%)

Vacant Housing Units

37 (21.6%)

Median Home Value

$220,833

Average Home Value

$287,705

Housing Affordability Index³

112

HOUSEHOLDS

Total Households

134

Average Household Size

2.57

Family Households

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.

GROWTH RATE / YEAR	2020-2024	2024-2029
Population	0.21%	0.69%
Households	1.27%	0.59%
Families		0.70%
Median Household Income		2.16%
Per Capita Income		2.92%
Owner Occupied HU		0.33%

GROWTH RATE / YEAR

2020-2024

2024-2029

Population

0.21%

0.69%

Households

1.27%

0.59%

Families

0.70%

Median Household Income

2.16%

Per Capita Income

2.92%

Owner Occupied HU

0.33%

Bear Lake, MI - Peer Comparisons by Rank and Percentile

The table below compares Bear Lake 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.

Variable Description	Rank	Percentile
Total Population	# 609	18th
Population Density	# 304	59th
Median Household Income	# 340	54th
Housing Affordability Index	# 258	35th
Per Capita Income	# 453	39th
Diversity Index	# 227	69th

Variable Description

Rank

Percentile

Total Population

# 609

18th

Population Density

# 304

59th

Median Household Income

# 340

54th

Housing Affordability Index

# 258

35th

Per Capita Income

# 453

39th

Diversity Index

# 227

69th

Michigan Census Data Comparison Tool

Bear Lake, MI Profile: Facts & Data

Bear Lake, Michigan - Basic Facts

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

POPULATION

INCOME

HOUSING

HOUSEHOLDS

GROWTH RATE / YEAR

Bear Lake, MI - Peer Comparisons by Rank and Percentile

Bear Lake, MI - Most Popular Things to Do

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Manistee County