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Lake City, MI Profile: Facts & Data

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Lake City, Michigan - Basic Facts

The City of Lake City had a population of 849 as of July 1, 2024.

The primary coordinate point for Lake City is located at latitude 44.3353 and longitude -85.215 in Missaukee County. The formal boundaries for the City of Lake City encompass a land area of 1.05 sq. miles and a water area of 0 sq. miles. Missaukee County is in the Eastern time zone (GMT -5).

The City of Lake City has a C5 Census Class Code which indicates an active incorporated place that is independent of any county subdivision and serves as a county subdivision equivalent. It also has a Functional Status Code of "A" which identifies an active government providing primary general-purpose functions.


Jump to... (On This Page!)
  1. Lake City 2024 Demographic Data
  2. Growth Rates for Lake City (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 - 2024 Demographics
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Lake City, MI Data & Demographics (As of July 1, 2024)

POPULATION

Total Population 849 (100%)
Population in Households 841 (99.1%)
Population in Families 626 (73.7%)
Population in Group Quarters1 8 ( 0.9%)
Population Density 811
Diversity Index2 25
 
 

INCOME

Median Household Income $58,915
Average Household Income $74,652
% of Income for Mortgage4 15%
Per Capita Income $29,294
Wealth Index5 57
Socioeconomic Status Index6 Moderate (51.5)
 

HOUSING

Total HU (Housing Units) 483 (100%)
Owner Occupied HU 252 (52.2%)
Renter Occupied HU 81 (16.8%)
Vacant Housing Units 150 (31.1%)
Median Home Value $140,805
Average Home Value $231,548
Housing Affordability Index3 164
 

HOUSEHOLDS

Total Households 333
Average Household Size 2.53
Family Households 215
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

 2020-2024 2024-2029
Population 0.56% -0.31%
Households 0.21% 0.00%
Families   -0.37%
Median Household Income   3.15%
Per Capita Income   2.86%
Owner Occupied HU   0.08%

Lake City, MI - Peer Comparisons by Rank and Percentile

The table below compares Lake City 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 # 465 38th
Population Density # 395 47th
Median Household Income # 453 39th
Housing Affordability Index # 638 86th
Per Capita Income # 583 22nd
Diversity Index # 325 57th

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

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