Prescott, MI
Population 352 · Michigan
About Prescott, MI
Prescott is a small community in Michigan with a population of 352 residents. The median household income is $55,673 per year, which is near the national average. The median age in Prescott is 44.8 years.
Housing in Prescott has a median home value of $71,100 and median monthly rent of $961. Of the 154 total housing units, the majority are owner-occupied, with 106 owner-occupied and 11 renter-occupied units.
The unemployment rate in Prescott is 14.8% and the poverty rate is 23.4%. 8.3% of residents hold a bachelor's degree or higher. The average commute time is 25.2 minutes.
How Prescott Ranks in Michigan
Cost of Living in Prescott, MI
Compared to national averages, Prescott has a median household income of $55,673 (26% below the national median of $75,149). Home values average $71,100, which is 71% below the national median. Monthly rent at $961 is 17% below the US average of $1,163. Within Michigan, Prescott's income is 16% below the state average of $66,017, and home values are 61% below the state median of $183,391.
Why Live in Prescott, MI?
Prescott offers affordable housing with a median home value of $71,100, below the US average of $244,900, and rent that’s lower than the national average at $961/month.
Potential considerations include median household income ($55,673) that falls below the national average. However, Prescott’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Prescott has a population of 352 with a median age of 44.8 years. Compare Prescott 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 Prescott
What is the population of Prescott, MI?
The population of Prescott, MI is 352 according to the latest Census data.
What is the median household income in Prescott?
The median household income in Prescott, MI is $55,673 per year.
What is the median home value in Prescott?
The median home value in Prescott, MI is $71,100.
What is the average rent in Prescott?
The median monthly rent in Prescott, MI is $961.
What is the unemployment rate in Prescott?
The unemployment rate in Prescott, MI is 14.8%.