Oakley, MI
Population 255 · Michigan
About Oakley, MI
Oakley is a small community located in Michigan with a population of 255 residents according to the latest US Census Bureau American Community Survey data. The median household income is $50,417 per year, which is 33% below the national median of $75,149. The median age of 44.9 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 Oakley features a median home value of $80,400, which is 67% below the national median of $244,900. This makes Oakley one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $745, 36% below the national average of $1,163/month. Of the 133 total housing units, 75% are owner-occupied (83 units) and 25% are renter-occupied (27 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Oakley shows an unemployment rate of 9.2%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 19.2%, above the national average of 12.4%. Workers in Oakley have an average one-way commute time of 31.2 minutes.
Education & Demographics
9.9% of Oakley 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 0.8% White, 0.8% Hispanic or Latino, 2.0% Black or African American, and 0.0% Asian residents, with 2.0% of the population being foreign-born.
Cost of Living in Oakley, MI
Compared to national averages, Oakley has a median household income of $50,417 (33% below the national median of $75,149). Home values average $80,400, which is 67% below the national median. Monthly rent at $745 is 36% below the US average of $1,163. Within Michigan, Oakley's income is 24% below the state average of $66,017, and home values are 56% below the state median of $183,391.
Why Live in Oakley, MI?
Oakley offers affordable housing with a median home value of $80,400, below the US average of $244,900, and rent that’s lower than the national average at $745/month.
Potential considerations include median household income ($50,417) that falls below the national average. However, Oakley’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Oakley has a population of 255 with a median age of 44.9 years. Compare Oakley with other cities to see how it stacks up, or explore all cities in Michigan.
Similar Cities Near Oakley
Cities in Michigan with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Grand Marais | 255 | $55,809 | $158,500 | Compare |
| Walloon Lake | 258 | $84,250 | $260,000 | Compare |
| Applegate | 251 | $62,667 | $93,800 | Compare |
| St. James | 259 | $82,708 | $275,000 | Compare |
| Lincoln | 250 | $31,771 | $127,800 | Compare |
| Mohawk | 260 | $46,397 | $176,400 | Compare |
| Rockland | 250 | $45,156 | $58,300 | Compare |
| Amasa | 262 | $35,536 | $56,900 | 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.
Compare Oakley With Other Cities
Frequently Asked Questions about Oakley
What is the population of Oakley, MI?
The population of Oakley, MI is 255 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 Oakley?
The median household income in Oakley, MI is $50,417 per year, which is 33% below the national median of $75,149.
What is the median home value in Oakley?
The median home value in Oakley, MI is $80,400, which is 67% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Oakley?
The median monthly rent in Oakley, MI is $745, which is 36% below the national average of $1,163/month.
What is the unemployment rate in Oakley?
The unemployment rate in Oakley, MI is 9.2%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Oakley, MI a good place to live?
Oakley offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 255 and a median age of 44.9, the city appeals to a broad range of residents.
How educated is Oakley, MI?
9.9% of residents in Oakley 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 Oakley?
Key cost-of-living indicators for Oakley, MI: median home value is $80,400 (67% below national), median rent is $745/month, and median household income is $50,417. The home-value-to-income ratio is 1.6x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Oakley?
The poverty rate in Oakley, MI is 19.2%, 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 Oakley, MI?
Oakley's population is 0.8% White, 0.8% Hispanic or Latino, 2.0% Black or African American, 0.0% Asian, and 2.0% two or more races. 2.0% of residents are foreign-born.