Newaygo, MI
Population 2,486 · Michigan
About Newaygo, MI
Newaygo is a small town located in Michigan with a population of 2,486 residents according to the latest US Census Bureau American Community Survey data. The median household income is $41,934 per year, which is 44% below the national median of $75,149. The median age of 32.7 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 Newaygo features a median home value of $102,900, which is 58% below the national median of $244,900. This makes Newaygo one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $1,058, 9% below the national average of $1,163/month. Of the 1,117 total housing units, 56% are owner-occupied (582 units) and 44% are renter-occupied (460 units). The balanced mix of owners and renters indicates a diverse housing market.
Economy & Employment
The local economy in Newaygo shows an unemployment rate of 4.5%, which is near the national rate of 3.7%. The poverty rate stands at 21.0%, above the national average of 12.4%. Workers in Newaygo have an average one-way commute time of 26.7 minutes.
Education & Demographics
11.8% of Newaygo 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 5.2% White, 2.8% Hispanic or Latino, 0.6% Black or African American, and 0.4% Asian residents, with 1.1% of the population being foreign-born.
Cost of Living in Newaygo, MI
Compared to national averages, Newaygo has a median household income of $41,934 (44% below the national median of $75,149). Home values average $102,900, which is 58% below the national median. Monthly rent at $1,058 is 9% below the US average of $1,163. Within Michigan, Newaygo's income is 36% below the state average of $66,017, and home values are 44% below the state median of $183,391.
Why Live in Newaygo, MI?
Newaygo offers affordable housing with a median home value of $102,900, below the US average of $244,900, and rent that’s lower than the national average at $1,058/month.
Potential considerations include median household income ($41,934) that falls below the national average. However, Newaygo’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Newaygo has a population of 2,486 with a median age of 32.7 years. Compare Newaygo with other cities to see how it stacks up, or explore all cities in Michigan.
Similar Cities Near Newaygo
Cities in Michigan with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Reed City | 2,505 | $48,646 | $105,400 | Compare |
| Woodland Beach | 2,509 | $70,330 | $159,300 | Compare |
| Spring Lake | 2,530 | $75,000 | $271,100 | Compare |
| Charlevoix | 2,420 | $52,344 | $294,400 | Compare |
| Chesaning | 2,411 | $57,426 | $123,900 | Compare |
| St. Ignace | 2,409 | $60,735 | $127,800 | Compare |
| Shelby | 2,571 | $53,309 | $124,000 | Compare |
| Hudson | 2,385 | $57,500 | $103,100 | 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 Newaygo With Other Cities
Frequently Asked Questions about Newaygo
What is the population of Newaygo, MI?
The population of Newaygo, MI is 2,486 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 Newaygo?
The median household income in Newaygo, MI is $41,934 per year, which is 44% below the national median of $75,149.
What is the median home value in Newaygo?
The median home value in Newaygo, MI is $102,900, which is 58% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Newaygo?
The median monthly rent in Newaygo, MI is $1,058, which is 9% below the national average of $1,163/month.
What is the unemployment rate in Newaygo?
The unemployment rate in Newaygo, MI is 4.5%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Newaygo, MI a good place to live?
Newaygo offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 2,486 and a median age of 32.7, the city appeals to young professionals and families.
How educated is Newaygo, MI?
11.8% of residents in Newaygo 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 Newaygo?
Key cost-of-living indicators for Newaygo, MI: median home value is $102,900 (58% below national), median rent is $1,058/month, and median household income is $41,934. The home-value-to-income ratio is 2.5x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Newaygo?
The poverty rate in Newaygo, MI is 21.0%, 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 Newaygo, MI?
Newaygo's population is 5.2% White, 2.8% Hispanic or Latino, 0.6% Black or African American, 0.4% Asian, and 0.4% two or more races. 1.1% of residents are foreign-born.