Canadian Lakes, MI
Population 2,701 · Michigan
About Canadian Lakes, MI
Canadian Lakes is a small town located in Michigan with a population of 2,701 residents according to the latest US Census Bureau American Community Survey data. The median household income is $69,069 per year, which is 8% below the national median of $75,149. The median age of 65.4 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Canadian Lakes features a median home value of $258,900, which is 6% above the national median of $244,900. This positions Canadian Lakes in a moderately priced market relative to the rest of the country. Median monthly rent is $800, 31% below the national average of $1,163/month. Of the 2,360 total housing units, 89% are owner-occupied (1,277 units) and 11% are renter-occupied (152 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Canadian Lakes shows an unemployment rate of 1.6%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 13.3%, above the national average of 12.4%. Workers in Canadian Lakes have an average one-way commute time of 32.3 minutes.
Education & Demographics
34.7% of Canadian Lakes residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This is in line with national trends in educational attainment. The community's demographic composition includes 0.4% White, 0.7% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 2.3% of the population being foreign-born.
Cost of Living in Canadian Lakes, MI
Compared to national averages, Canadian Lakes has a median household income of $69,069 (8% below the national median of $75,149). Home values average $258,900, which is 6% above the national median. Monthly rent at $800 is 31% below the US average of $1,163. Within Michigan, Canadian Lakes's income is 5% above the state average of $66,017, and home values are 41% above the state median of $183,391.
Why Live in Canadian Lakes, MI?
Canadian Lakes offers rent that’s lower than the national average at $800/month, and a strong job market with an unemployment rate of just 1.6%, and a well-educated community where 34.7% of residents hold a bachelor’s degree or higher.
Potential considerations include median household income ($69,069) that falls below the national average. However, Canadian Lakes’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Canadian Lakes has a population of 2,701 with a median age of 65.4 years. Compare Canadian Lakes with other cities to see how it stacks up, or explore all cities in Michigan.
Similar Cities Near Canadian Lakes
Cities in Michigan with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Vassar | 2,704 | $61,827 | $134,600 | Compare |
| Sandusky | 2,692 | $60,625 | $112,300 | Compare |
| West Ishpeming | 2,714 | $80,500 | $166,100 | Compare |
| East Tawas | 2,686 | $41,619 | $114,400 | Compare |
| Croswell | 2,667 | $55,101 | $136,500 | Compare |
| Beechwood | 2,736 | $68,484 | $231,500 | Compare |
| Keego Harbor | 2,747 | $70,185 | $246,300 | Compare |
| West Monroe | 2,753 | $50,099 | $94,000 | 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 Canadian Lakes With Other Cities
Frequently Asked Questions about Canadian Lakes
What is the population of Canadian Lakes, MI?
The population of Canadian Lakes, MI is 2,701 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 Canadian Lakes?
The median household income in Canadian Lakes, MI is $69,069 per year, which is 8% below the national median of $75,149.
What is the median home value in Canadian Lakes?
The median home value in Canadian Lakes, MI is $258,900, which is 6% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Canadian Lakes?
The median monthly rent in Canadian Lakes, MI is $800, which is 31% below the national average of $1,163/month.
What is the unemployment rate in Canadian Lakes?
The unemployment rate in Canadian Lakes, MI is 1.6%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Canadian Lakes, MI a good place to live?
Canadian Lakes offers a moderate cost of living, a competitive housing market, and a strong job market. With a population of 2,701 and a median age of 65.4, the city appeals to established professionals and retirees.
How educated is Canadian Lakes, MI?
34.7% of residents in Canadian Lakes aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Canadian Lakes?
Key cost-of-living indicators for Canadian Lakes, MI: median home value is $258,900 (6% above national), median rent is $800/month, and median household income is $69,069. The home-value-to-income ratio is 3.7x, a moderate figure by national standards.
What is the poverty rate in Canadian Lakes?
The poverty rate in Canadian Lakes, MI is 13.3%, 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 Canadian Lakes, MI?
Canadian Lakes's population is 0.4% White, 0.7% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 0.1% two or more races. 2.3% of residents are foreign-born.