Michigantown, IN
Population 470 · Indiana
About Michigantown, IN
Michigantown is a small community located in Indiana with a population of 470 residents according to the latest US Census Bureau American Community Survey data. The median household income is $73,214 per year, which is 3% below the national median of $75,149. The median age of 30 years is notably younger the US median age of 38.9 years, indicating a younger, often more dynamic population base.
Housing Market Overview
The housing market in Michigantown features a median home value of $125,000, which is 49% below the national median of $244,900. This makes Michigantown one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $963, 17% below the national average of $1,163/month. Of the 197 total housing units, 68% are owner-occupied (122 units) and 32% are renter-occupied (58 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Michigantown shows an unemployment rate of 0.5%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 14.7%, above the national average of 12.4%. Workers in Michigantown have an average one-way commute time of 23.2 minutes.
Education & Demographics
14.7% of Michigantown residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 2.6% White, 1.3% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 1.9% of the population being foreign-born.
How Michigantown Ranks in Indiana
Cost of Living in Michigantown, IN
Compared to national averages, Michigantown has a median household income of $73,214 (3% below the national median of $75,149). Home values average $125,000, which is 49% below the national median. Monthly rent at $963 is 17% below the US average of $1,163. Within Indiana, Michigantown's income is 6% above the state average of $69,330, and home values are 24% below the state median of $163,409.
Why Live in Michigantown, IN?
Michigantown offers affordable housing with a median home value of $125,000, below the US average of $244,900, and rent that’s lower than the national average at $963/month, and a strong job market with an unemployment rate of just 0.5%. Additionally, the city features short commute times averaging just 23.2 minutes.
Potential considerations include median household income ($73,214) that falls below the national average. However, Michigantown’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Michigantown has a population of 470 with a median age of 30 years. Compare Michigantown with other cities to see how it stacks up, or explore all cities in Indiana.
Similar Cities Near Michigantown
Cities in Indiana with a similar population size.
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Indiana
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Michigantown
What is the population of Michigantown, IN?
The population of Michigantown, IN is 470 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in Indiana.
What is the median household income in Michigantown?
The median household income in Michigantown, IN is $73,214 per year, which is 3% below the national median of $75,149.
What is the median home value in Michigantown?
The median home value in Michigantown, IN is $125,000, which is 49% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Michigantown?
The median monthly rent in Michigantown, IN is $963, which is 17% below the national average of $1,163/month.
What is the unemployment rate in Michigantown?
The unemployment rate in Michigantown, IN is 0.5%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Michigantown, IN a good place to live?
Michigantown offers a moderate cost of living, affordable housing, and a strong job market. With a population of 470 and a median age of 30, the city appeals to young professionals and families.
How educated is Michigantown, IN?
14.7% of residents in Michigantown aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Michigantown?
Key cost-of-living indicators for Michigantown, IN: median home value is $125,000 (49% below national), median rent is $963/month, and median household income is $73,214. The home-value-to-income ratio is 1.7x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Michigantown?
The poverty rate in Michigantown, IN is 14.7%, compared to the national average of 12.4%. Residents and prospective movers should be aware of the economic challenges facing parts of this community.
How diverse is Michigantown, IN?
Michigantown's population is 2.6% White, 1.3% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 0.0% two or more races. 1.9% of residents are foreign-born.