Buchanan, MI
Population 4,259 · Michigan
About Buchanan, MI
Buchanan is a small town located in Michigan with a population of 4,259 residents according to the latest US Census Bureau American Community Survey data. The median household income is $54,068 per year, which is 28% below the national median of $75,149. The median age of 32.9 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 Buchanan features a median home value of $138,400, which is 43% below the national median of $244,900. This makes Buchanan one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $952, 18% below the national average of $1,163/month. Of the 2,112 total housing units, 56% are owner-occupied (997 units) and 44% are renter-occupied (783 units). The balanced mix of owners and renters indicates a diverse housing market.
Economy & Employment
The local economy in Buchanan shows an unemployment rate of 4.2%, which is near the national rate of 3.7%. The poverty rate stands at 6.7%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Buchanan have an average one-way commute time of 19.3 minutes, one of the shorter commutes in the region.
Education & Demographics
14.7% of Buchanan 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 7.3% White, 4.4% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 0.6% of the population being foreign-born.
Cost of Living in Buchanan, MI
Compared to national averages, Buchanan has a median household income of $54,068 (28% below the national median of $75,149). Home values average $138,400, which is 43% below the national median. Monthly rent at $952 is 18% below the US average of $1,163. Within Michigan, Buchanan's income is 18% below the state average of $66,017, and home values are 25% below the state median of $183,391.
Why Live in Buchanan, MI?
Buchanan offers affordable housing with a median home value of $138,400, below the US average of $244,900, and rent that’s lower than the national average at $952/month, and a low poverty rate of 6.7%, better than the national average. Additionally, the city features short commute times averaging just 19.3 minutes.
Potential considerations include median household income ($54,068) that falls below the national average. However, Buchanan’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Buchanan has a population of 4,259 with a median age of 32.9 years. Compare Buchanan with other cities to see how it stacks up, or explore all cities in Michigan.
Similar Cities Near Buchanan
Cities in Michigan with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Sparta | 4,260 | $55,474 | $190,100 | Compare |
| Caro | 4,284 | $41,940 | $102,200 | Compare |
| Gaylord | 4,307 | $44,052 | $170,300 | Compare |
| Middleville | 4,327 | $71,417 | $209,000 | Compare |
| Algonac | 4,152 | $49,738 | $177,200 | Compare |
| Linden | 4,150 | $77,434 | $232,300 | Compare |
| Roosevelt Park | 4,148 | $60,938 | $178,600 | Compare |
| Lowell | 4,133 | $71,406 | $231,100 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Michigan
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Buchanan With Other Cities
Frequently Asked Questions about Buchanan
What is the population of Buchanan, MI?
The population of Buchanan, MI is 4,259 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Michigan.
What is the median household income in Buchanan?
The median household income in Buchanan, MI is $54,068 per year, which is 28% below the national median of $75,149.
What is the median home value in Buchanan?
The median home value in Buchanan, MI is $138,400, which is 43% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Buchanan?
The median monthly rent in Buchanan, MI is $952, which is 18% below the national average of $1,163/month.
What is the unemployment rate in Buchanan?
The unemployment rate in Buchanan, MI is 4.2%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Buchanan, MI a good place to live?
Buchanan offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 4,259 and a median age of 32.9, the city appeals to young professionals and families.
How educated is Buchanan, MI?
14.7% of residents in Buchanan 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 Buchanan?
Key cost-of-living indicators for Buchanan, MI: median home value is $138,400 (43% below national), median rent is $952/month, and median household income is $54,068. The home-value-to-income ratio is 2.6x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Buchanan?
The poverty rate in Buchanan, MI is 6.7%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Buchanan, MI?
Buchanan's population is 7.3% White, 4.4% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 1.8% two or more races. 0.6% of residents are foreign-born.