Lake City, MI
Population 669 · Michigan
About Lake City, MI
Lake City is a small community located in Michigan with a population of 669 residents according to the latest US Census Bureau American Community Survey data. The median household income is $59,750 per year, which is 20% below the national median of $75,149. The median age of 41.3 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Lake City features a median home value of $157,500, which is 36% below the national median of $244,900. This positions Lake City in a moderately priced market relative to the rest of the country. Median monthly rent is $666, 43% below the national average of $1,163/month. Of the 396 total housing units, 84% are owner-occupied (207 units) and 16% are renter-occupied (39 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Lake City shows an unemployment rate of 5.9%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 15.2%, above the national average of 12.4%. Workers in Lake City have an average one-way commute time of 16.8 minutes, one of the shorter commutes in the region.
Education & Demographics
23.5% of Lake City 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 1.0% White, 0.4% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 4.2% of the population being foreign-born.
Cost of Living in Lake City, MI
Compared to national averages, Lake City has a median household income of $59,750 (20% below the national median of $75,149). Home values average $157,500, which is 36% below the national median. Monthly rent at $666 is 43% below the US average of $1,163. Within Michigan, Lake City's income is 9% below the state average of $66,017, and home values are 14% below the state median of $183,391.
Why Live in Lake City, MI?
Lake City offers affordable housing with a median home value of $157,500, below the US average of $244,900, and rent that’s lower than the national average at $666/month, and short commute times averaging just 16.8 minutes.
Potential considerations include median household income ($59,750) that falls below the national average. However, Lake City’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Lake City has a population of 669 with a median age of 41.3 years. Compare Lake City with other cities to see how it stacks up, or explore all cities in Michigan.
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Demographics
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Economy & Education
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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 Lake City
What is the population of Lake City, MI?
The population of Lake City, MI is 669 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 Lake City?
The median household income in Lake City, MI is $59,750 per year, which is 20% below the national median of $75,149.
What is the median home value in Lake City?
The median home value in Lake City, MI is $157,500, which is 36% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Lake City?
The median monthly rent in Lake City, MI is $666, which is 43% below the national average of $1,163/month.
What is the unemployment rate in Lake City?
The unemployment rate in Lake City, MI is 5.9%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Lake City, MI a good place to live?
Lake City offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 669 and a median age of 41.3, the city appeals to a broad range of residents.
How educated is Lake City, MI?
23.5% of residents in Lake City 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 Lake City?
Key cost-of-living indicators for Lake City, MI: median home value is $157,500 (36% below national), median rent is $666/month, and median household income is $59,750. The home-value-to-income ratio is 2.6x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Lake City?
The poverty rate in Lake City, MI is 15.2%, 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 Lake City, MI?
Lake City's population is 1.0% White, 0.4% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 1.8% two or more races. 4.2% of residents are foreign-born.