Caspian, MI
Population 553 · Michigan
About Caspian, MI
Caspian is a small community located in Michigan with a population of 553 residents according to the latest US Census Bureau American Community Survey data. The median household income is $36,750 per year, which is 51% below the national median of $75,149. The median age of 57.4 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 Caspian features a median home value of $69,400, which is 72% below the national median of $244,900. This makes Caspian one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $620, 47% below the national average of $1,163/month. Of the 383 total housing units, 72% are owner-occupied (217 units) and 28% are renter-occupied (86 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Caspian shows an unemployment rate of 10.3%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 25.7%, above the national average of 12.4%. Workers in Caspian have an average one-way commute time of 24.9 minutes.
Education & Demographics
15.7% of Caspian 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 0.0% White, 2.5% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 1.4% of the population being foreign-born.
How Caspian Ranks in Michigan
Cost of Living in Caspian, MI
Compared to national averages, Caspian has a median household income of $36,750 (51% below the national median of $75,149). Home values average $69,400, which is 72% below the national median. Monthly rent at $620 is 47% below the US average of $1,163. Within Michigan, Caspian's income is 44% below the state average of $66,017, and home values are 62% below the state median of $183,391.
Why Live in Caspian, MI?
Caspian offers affordable housing with a median home value of $69,400, below the US average of $244,900, and rent that’s lower than the national average at $620/month, and short commute times averaging just 24.9 minutes.
Potential considerations include median household income ($36,750) that falls below the national average. However, Caspian’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Caspian has a population of 553 with a median age of 57.4 years. Compare Caspian with other cities to see how it stacks up, or explore all cities in Michigan.
Similar Cities Near Caspian
Cities in Michigan with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Bay Port | 558 | $50,313 | $119,200 | Compare |
| Robin Glen-Indiantown | 545 | $33,594 | $0 | Compare |
| Mulliken | 541 | $78,654 | $154,700 | Compare |
| Interlochen | 538 | $80,625 | $148,600 | Compare |
| Martin | 570 | $56,818 | $161,700 | Compare |
| Bancroft | 571 | $80,000 | $117,000 | Compare |
| Republic | 530 | $41,136 | $60,700 | Compare |
| Tekonsha | 579 | $52,679 | $90,700 | 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 Caspian With Other Cities
Frequently Asked Questions about Caspian
What is the population of Caspian, MI?
The population of Caspian, MI is 553 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in Michigan.
What is the median household income in Caspian?
The median household income in Caspian, MI is $36,750 per year, which is 51% below the national median of $75,149.
What is the median home value in Caspian?
The median home value in Caspian, MI is $69,400, which is 72% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Caspian?
The median monthly rent in Caspian, MI is $620, which is 47% below the national average of $1,163/month.
What is the unemployment rate in Caspian?
The unemployment rate in Caspian, MI is 10.3%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Caspian, MI a good place to live?
Caspian offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 553 and a median age of 57.4, the city appeals to established professionals and retirees.
How educated is Caspian, MI?
15.7% of residents in Caspian 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 Caspian?
Key cost-of-living indicators for Caspian, MI: median home value is $69,400 (72% below national), median rent is $620/month, and median household income is $36,750. The home-value-to-income ratio is 1.9x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Caspian?
The poverty rate in Caspian, MI is 25.7%, 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 Caspian, MI?
Caspian's population is 0.0% White, 2.5% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 0.0% two or more races. 1.4% of residents are foreign-born.