Lakeport, MI
Population 746 · Michigan
About Lakeport, MI
Lakeport is a small community located in Michigan with a population of 746 residents according to the latest US Census Bureau American Community Survey data. The median household income is $55,167 per year, which is 27% below the national median of $75,149. The median age of 43.5 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 Lakeport features a median home value of $172,000, which is 30% below the national median of $244,900. This positions Lakeport in a moderately priced market relative to the rest of the country. Median monthly rent is $1,162, 0% below the national average of $1,163/month. Of the 478 total housing units, 87% are owner-occupied (296 units) and 13% are renter-occupied (46 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Lakeport shows an unemployment rate of 2.3%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 15.6%, above the national average of 12.4%. Workers in Lakeport have an average one-way commute time of 21.9 minutes.
Education & Demographics
42.6% of Lakeport residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This is in line with national trends in educational attainment. The community's demographic composition includes 0.7% White, 0.7% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 1.1% of the population being foreign-born.
Cost of Living in Lakeport, MI
Compared to national averages, Lakeport has a median household income of $55,167 (27% below the national median of $75,149). Home values average $172,000, which is 30% below the national median. Monthly rent at $1,162 is 0% below the US average of $1,163. Within Michigan, Lakeport's income is 16% below the state average of $66,017, and home values are 6% below the state median of $183,391.
Why Live in Lakeport, MI?
Lakeport offers affordable housing with a median home value of $172,000, below the US average of $244,900, and rent that’s lower than the national average at $1,162/month, and a strong job market with an unemployment rate of just 2.3%. Additionally, the city features a well-educated community where 42.6% of residents hold a bachelor’s degree or higher, and short commute times averaging just 21.9 minutes.
Potential considerations include median household income ($55,167) that falls below the national average. However, Lakeport’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Lakeport has a population of 746 with a median age of 43.5 years. Compare Lakeport with other cities to see how it stacks up, or explore all cities in Michigan.
Similar Cities Near Lakeport
Cities in Michigan with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Sanford | 743 | $69,667 | $165,800 | Compare |
| Hillman | 750 | $41,000 | $93,200 | Compare |
| Saugatuck | 751 | $118,309 | $619,400 | Compare |
| Benzonia | 735 | $61,161 | $195,800 | Compare |
| Hardwood Acres | 735 | $107,128 | $240,500 | Compare |
| Oscoda | 757 | $37,188 | $71,800 | Compare |
| Columbiaville | 734 | $58,250 | $122,000 | Compare |
| Metamora | 761 | $84,453 | $264,500 | 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 Lakeport With Other Cities
Frequently Asked Questions about Lakeport
What is the population of Lakeport, MI?
The population of Lakeport, MI is 746 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 Lakeport?
The median household income in Lakeport, MI is $55,167 per year, which is 27% below the national median of $75,149.
What is the median home value in Lakeport?
The median home value in Lakeport, MI is $172,000, which is 30% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Lakeport?
The median monthly rent in Lakeport, MI is $1,162, which is 0% below the national average of $1,163/month.
What is the unemployment rate in Lakeport?
The unemployment rate in Lakeport, MI is 2.3%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Lakeport, MI a good place to live?
Lakeport offers a moderate cost of living, affordable housing, and a strong job market. With a population of 746 and a median age of 43.5, the city appeals to a broad range of residents.
How educated is Lakeport, MI?
42.6% of residents in Lakeport 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 Lakeport?
Key cost-of-living indicators for Lakeport, MI: median home value is $172,000 (30% below national), median rent is $1,162/month, and median household income is $55,167. The home-value-to-income ratio is 3.1x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Lakeport?
The poverty rate in Lakeport, MI is 15.6%, 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 Lakeport, MI?
Lakeport's population is 0.7% White, 0.7% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 4.6% two or more races. 1.1% of residents are foreign-born.