Farwell, MI
Population 1,086 · Michigan
About Farwell, MI
Farwell is a small community in Michigan with a population of 1,086 residents. The median household income is $40,667 per year, which is below the national average. The median age in Farwell is 39.5 years.
Housing in Farwell has a median home value of $95,800 and median monthly rent of $496. Of the 451 total housing units, the majority are owner-occupied, with 248 owner-occupied and 136 renter-occupied units.
The unemployment rate in Farwell is 5.3% and the poverty rate is 26.3%. 11.8% of residents hold a bachelor's degree or higher. The average commute time is 24.2 minutes.
How Farwell Ranks in Michigan
Cost of Living in Farwell, MI
Compared to national averages, Farwell has a median household income of $40,667 (46% below the national median of $75,149). Home values average $95,800, which is 61% below the national median. Monthly rent at $496 is 57% below the US average of $1,163. Within Michigan, Farwell's income is 38% below the state average of $66,017, and home values are 48% below the state median of $183,391.
Why Live in Farwell, MI?
Farwell offers affordable housing with a median home value of $95,800, below the US average of $244,900, and rent that’s lower than the national average at $496/month, and short commute times averaging just 24.2 minutes.
Potential considerations include median household income ($40,667) that falls below the national average. However, Farwell’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Farwell has a population of 1,086 with a median age of 39.5 years. Compare Farwell with other cities to see how it stacks up, or explore all cities in Michigan.
Similar Cities Near Farwell
Cities in Michigan with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Fostoria | 1,081 | $95,491 | $140,400 | Compare |
| Pigeon | 1,093 | $49,500 | $108,100 | Compare |
| Lamont | 1,078 | $158,456 | $469,200 | Compare |
| Lakes of the North | 1,076 | $65,536 | $169,600 | Compare |
| Dollar Bay | 1,070 | $63,500 | $196,200 | Compare |
| Memphis | 1,107 | $60,884 | $190,400 | Compare |
| Marcellus | 1,113 | $55,417 | $112,500 | Compare |
| Deckerville | 1,057 | $59,375 | $81,900 | 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.
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Frequently Asked Questions about Farwell
What is the population of Farwell, MI?
The population of Farwell, MI is 1,086 according to the latest Census data.
What is the median household income in Farwell?
The median household income in Farwell, MI is $40,667 per year.
What is the median home value in Farwell?
The median home value in Farwell, MI is $95,800.
What is the average rent in Farwell?
The median monthly rent in Farwell, MI is $496.
What is the unemployment rate in Farwell?
The unemployment rate in Farwell, MI is 5.3%.