Otter Lake, MI
Population 387 · Michigan
About Otter Lake, MI
Otter Lake is a small community located in Michigan with a population of 387 residents according to the latest US Census Bureau American Community Survey data. The median household income is $43,750 per year, which is 42% below the national median of $75,149. The median age of 53.8 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 Otter Lake features a median home value of $107,700, which is 56% below the national median of $244,900. This makes Otter Lake one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $0, 100% below the national average of $1,163/month. Of the 308 total housing units, 91% are owner-occupied (171 units) and 9% are renter-occupied (17 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Otter Lake shows an unemployment rate of 6.6%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 10.9%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Otter Lake have an average one-way commute time of 36.9 minutes, suggesting many residents commute to jobs in a nearby metro area.
Education & Demographics
9.4% of Otter Lake 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 0.0% White, 0.3% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 0.8% of the population being foreign-born.
Cost of Living in Otter Lake, MI
Compared to national averages, Otter Lake has a median household income of $43,750 (42% below the national median of $75,149). Home values average $107,700, which is 56% below the national median. Monthly rent at $0 is 100% below the US average of $1,163. Within Michigan, Otter Lake's income is 34% below the state average of $66,017, and home values are 41% below the state median of $183,391.
Why Live in Otter Lake, MI?
Otter Lake offers affordable housing with a median home value of $107,700, below the US average of $244,900, and rent that’s lower than the national average at $0/month, and a low poverty rate of 10.9%, better than the national average.
Potential considerations include median household income ($43,750) that falls below the national average. However, Otter Lake’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Otter Lake has a population of 387 with a median age of 53.8 years. Compare Otter Lake with other cities to see how it stacks up, or explore all cities in Michigan.
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Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Otter Lake
What is the population of Otter Lake, MI?
The population of Otter Lake, MI is 387 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 Otter Lake?
The median household income in Otter Lake, MI is $43,750 per year, which is 42% below the national median of $75,149.
What is the median home value in Otter Lake?
The median home value in Otter Lake, MI is $107,700, which is 56% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Otter Lake?
The median monthly rent in Otter Lake, MI is $0, which is 100% below the national average of $1,163/month.
What is the unemployment rate in Otter Lake?
The unemployment rate in Otter Lake, MI is 6.6%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Otter Lake, MI a good place to live?
Otter Lake offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 387 and a median age of 53.8, the city appeals to established professionals and retirees.
How educated is Otter Lake, MI?
9.4% of residents in Otter Lake 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 Otter Lake?
Key cost-of-living indicators for Otter Lake, MI: median home value is $107,700 (56% below national), median rent is $0/month, and median household income is $43,750. The home-value-to-income ratio is 2.5x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Otter Lake?
The poverty rate in Otter Lake, MI is 10.9%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Otter Lake, MI?
Otter Lake's population is 0.0% White, 0.3% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 0.3% two or more races. 0.8% of residents are foreign-born.