Lake Orion, MI
Population 2,873 · Michigan
About Lake Orion, MI
Lake Orion is a small town located in Michigan with a population of 2,873 residents according to the latest US Census Bureau American Community Survey data. The median household income is $98,871 per year, which is 32% above the national median of $75,149. The median age of 43.8 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 Lake Orion features a median home value of $346,700, which is 42% above the national median of $244,900. This positions Lake Orion in a moderately priced market relative to the rest of the country. Median monthly rent is $757, 35% below the national average of $1,163/month. Of the 1,437 total housing units, 74% are owner-occupied (890 units) and 26% are renter-occupied (320 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Lake Orion shows an unemployment rate of 0.9%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 8.4%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Lake Orion have an average one-way commute time of 28.7 minutes.
Education & Demographics
45.8% of Lake Orion residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This significantly higher educational attainment rate often correlates with access to knowledge-economy jobs and higher household incomes. The community's demographic composition includes 0.9% White, 1.6% Hispanic or Latino, 0.0% Black or African American, and 2.7% Asian residents, with 6.2% of the population being foreign-born.
How Lake Orion Ranks in Michigan
Cost of Living in Lake Orion, MI
Compared to national averages, Lake Orion has a median household income of $98,871 (32% above the national median of $75,149). Home values average $346,700, which is 42% above the national median. Monthly rent at $757 is 35% below the US average of $1,163. Within Michigan, Lake Orion's income is 50% above the state average of $66,017, and home values are 89% above the state median of $183,391.
Why Live in Lake Orion, MI?
Lake Orion offers a strong local economy with a median household income of $98,871, well above the national average, and rent that’s lower than the national average at $757/month, and a strong job market with an unemployment rate of just 0.9%. Additionally, the city features a well-educated community where 45.8% of residents hold a bachelor’s degree or higher, and a low poverty rate of 8.4%, better than the national average.
Lake Orion has a population of 2,873 with a median age of 43.8 years. Compare Lake Orion with other cities to see how it stacks up, or explore all cities in Michigan.
Similar Cities Near Lake Orion
Cities in Michigan with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Rogers City | 2,873 | $47,601 | $93,500 | Compare |
| Kincheloe | 2,875 | $53,333 | $98,100 | Compare |
| Manistique | 2,844 | $39,761 | $83,600 | Compare |
| St. Helen | 2,841 | $42,091 | $85,300 | Compare |
| Norway | 2,835 | $50,025 | $87,300 | Compare |
| Ithaca | 2,831 | $62,375 | $126,600 | Compare |
| Almont | 2,830 | $81,511 | $233,100 | Compare |
| Bath | 2,938 | $64,375 | $202,600 | 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 Lake Orion With Other Cities
Frequently Asked Questions about Lake Orion
What is the population of Lake Orion, MI?
The population of Lake Orion, MI is 2,873 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 Lake Orion?
The median household income in Lake Orion, MI is $98,871 per year, which is 32% above the national median of $75,149.
What is the median home value in Lake Orion?
The median home value in Lake Orion, MI is $346,700, which is 42% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Lake Orion?
The median monthly rent in Lake Orion, MI is $757, which is 35% below the national average of $1,163/month.
What is the unemployment rate in Lake Orion?
The unemployment rate in Lake Orion, MI is 0.9%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Lake Orion, MI a good place to live?
Lake Orion offers above-average incomes, a competitive housing market, and a strong job market. With a population of 2,873 and a median age of 43.8, the city appeals to a broad range of residents.
How educated is Lake Orion, MI?
45.8% of residents in Lake Orion 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 Lake Orion?
Key cost-of-living indicators for Lake Orion, MI: median home value is $346,700 (42% above national), median rent is $757/month, and median household income is $98,871. The home-value-to-income ratio is 3.5x, a moderate figure by national standards.
What is the poverty rate in Lake Orion?
The poverty rate in Lake Orion, MI is 8.4%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Lake Orion, MI?
Lake Orion's population is 0.9% White, 1.6% Hispanic or Latino, 0.0% Black or African American, 2.7% Asian, and 0.3% two or more races. 6.2% of residents are foreign-born.