Caro, MI Profile: Facts & Data

Caro, Michigan - Basic Facts

The City of Caro had a population of 4,252 as of July 1, 2024.

The primary coordinate point for Caro is located at latitude 43.4911 and longitude -83.3969 in Tuscola County. The formal boundaries for the City of Caro encompass a land area of 2.8 sq. miles and a water area of 0.01 sq. miles. Tuscola County is in the Eastern time zone (GMT -5).

The City of Caro 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 City of Caro is located within Township of Indianfields, a minor civil division (MCD) of Tuscola County.

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

POPULATION
Total Population	4,252 (100%)
Population in Households	4,009 (94.3%)
Population in Families	2,946 (69.3%)
Population in Group Quarters¹	243 ( 5.7%)
Population Density	1,444
Diversity Index²	30


INCOME
Median Household Income	$52,521
Average Household Income	$74,570
% of Income for Mortgage⁴	12%
Per Capita Income	$31,957
Wealth Index⁵	56
Socioeconomic Status Index⁶	Low (40.0)

HOUSING
Total HU (Housing Units)	1,993 (100%)
Owner Occupied HU	1,112 (55.8%)
Renter Occupied HU	704 (35.3%)
Vacant Housing Units	177 ( 8.9%)
Median Home Value	$103,138
Average Home Value	$140,310
Housing Affordability Index³	192

HOUSEHOLDS
Total Households	1,816
Average Household Size	2.21
Family Households	995
Average Family Size	3.00

HOUSING

Total HU (Housing Units)

1,993 (100%)

Owner Occupied HU

1,112 (55.8%)

Renter Occupied HU

704 (35.3%)

Vacant Housing Units

177 ( 8.9%)

Median Home Value

$103,138

Average Home Value

$140,310

Housing Affordability Index³

192

HOUSEHOLDS

Total Households

1,816

Average Household Size

2.21

Family Households

995

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	-0.42%	-0.34%
Households	-0.15%	-0.01%
Families		-0.32%
Median Household Income		2.11%
Per Capita Income		2.63%
Owner Occupied HU		0.36%

GROWTH RATE / YEAR

2020-2024

2024-2029

Population

-0.42%

-0.34%

Households

-0.15%

-0.01%

Families

-0.32%

Median Household Income

2.11%

Per Capita Income

2.63%

Owner Occupied HU

0.36%

Caro, MI - Peer Comparisons by Rank and Percentile

The table below compares Caro 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	# 199	73rd
Population Density	# 224	70th
Median Household Income	# 583	22nd
Housing Affordability Index	# 695	93rd
Per Capita Income	# 487	35th
Diversity Index	# 222	70th

Variable Description

Rank

Percentile

Total Population

# 199

73rd

Population Density

# 224

70th

Median Household Income

# 583

22nd

Housing Affordability Index

# 695

93rd

Per Capita Income

# 487

35th

Diversity Index

# 222

70th

Michigan Census Data Comparison Tool

Caro, MI Profile: Facts & Data

Caro, Michigan - Basic Facts

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

POPULATION

INCOME

HOUSING

HOUSEHOLDS

GROWTH RATE / YEAR

Caro, MI - Peer Comparisons by Rank and Percentile

Caro, MI - Most Popular Things to Do

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Tuscola County