Dollar Bay, MI
Population 1,070 · Michigan
About Dollar Bay, MI
Dollar Bay is a small town located in Michigan with a population of 1,070 residents according to the latest US Census Bureau American Community Survey data. The median household income is $63,500 per year, which is 16% below the national median of $75,149. The median age of 31.2 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 Dollar Bay features a median home value of $196,200, which is 20% below the national median of $244,900. This positions Dollar Bay 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 441 total housing units, 87% are owner-occupied (316 units) and 13% are renter-occupied (46 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Dollar Bay 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 12.5%, above the national average of 12.4%. Workers in Dollar Bay have an average one-way commute time of 18.8 minutes, one of the shorter commutes in the region.
Education & Demographics
22.1% of Dollar Bay 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, 1.8% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 1.0% of the population being foreign-born.
Cost of Living in Dollar Bay, MI
Compared to national averages, Dollar Bay has a median household income of $63,500 (16% below the national median of $75,149). Home values average $196,200, which is 20% below the national median. Monthly rent at $800 is 31% below the US average of $1,163. Within Michigan, Dollar Bay's income is 4% below the state average of $66,017, and home values are 7% above the state median of $183,391.
Why Live in Dollar Bay, MI?
Dollar Bay offers affordable housing with a median home value of $196,200, below the US average of $244,900, and rent that’s lower than the national average at $800/month, and a strong job market with an unemployment rate of just 1.6%. Additionally, the city features short commute times averaging just 18.8 minutes.
Potential considerations include median household income ($63,500) that falls below the national average. However, Dollar Bay’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Dollar Bay has a population of 1,070 with a median age of 31.2 years. Compare Dollar Bay with other cities to see how it stacks up, or explore all cities in Michigan.
Similar Cities Near Dollar Bay
Cities in Michigan with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Lakes of the North | 1,076 | $65,536 | $169,600 | Compare |
| Lamont | 1,078 | $158,456 | $469,200 | Compare |
| Fostoria | 1,081 | $95,491 | $140,400 | Compare |
| Deckerville | 1,057 | $59,375 | $81,900 | Compare |
| Farwell | 1,086 | $40,667 | $95,800 | Compare |
| Coloma | 1,051 | $62,778 | $160,400 | Compare |
| Lakeview | 1,049 | $30,865 | $152,900 | Compare |
| Brooklyn | 1,047 | $48,750 | $176,900 | 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 Dollar Bay With Other Cities
Frequently Asked Questions about Dollar Bay
What is the population of Dollar Bay, MI?
The population of Dollar Bay, MI is 1,070 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 Dollar Bay?
The median household income in Dollar Bay, MI is $63,500 per year, which is 16% below the national median of $75,149.
What is the median home value in Dollar Bay?
The median home value in Dollar Bay, MI is $196,200, which is 20% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Dollar Bay?
The median monthly rent in Dollar Bay, MI is $800, which is 31% below the national average of $1,163/month.
What is the unemployment rate in Dollar Bay?
The unemployment rate in Dollar Bay, 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 Dollar Bay, MI a good place to live?
Dollar Bay offers a moderate cost of living, affordable housing, and a strong job market. With a population of 1,070 and a median age of 31.2, the city appeals to young professionals and families.
How educated is Dollar Bay, MI?
22.1% of residents in Dollar Bay 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 Dollar Bay?
Key cost-of-living indicators for Dollar Bay, MI: median home value is $196,200 (20% below national), median rent is $800/month, and median household income is $63,500. The home-value-to-income ratio is 3.1x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Dollar Bay?
The poverty rate in Dollar Bay, MI is 12.5%, 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 Dollar Bay, MI?
Dollar Bay's population is 0.0% White, 1.8% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 1.1% two or more races. 1.0% of residents are foreign-born.