Saranac, MI
Population 1,973 · Michigan
About Saranac, MI
Saranac is a small town located in Michigan with a population of 1,973 residents according to the latest US Census Bureau American Community Survey data. The median household income is $64,157 per year, which is 15% below the national median of $75,149. The median age of 33.4 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 Saranac features a median home value of $183,300, which is 25% below the national median of $244,900. This positions Saranac in a moderately priced market relative to the rest of the country. Median monthly rent is $415, 64% below the national average of $1,163/month. Of the 760 total housing units, 67% are owner-occupied (507 units) and 33% are renter-occupied (248 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Saranac shows an unemployment rate of 3.2%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 13.0%, above the national average of 12.4%. Workers in Saranac have an average one-way commute time of 23.3 minutes.
Education & Demographics
22.4% of Saranac 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 1.9% White, 1.3% Hispanic or Latino, 0.0% Black or African American, and 0.8% Asian residents, with 1.0% of the population being foreign-born.
How Saranac Ranks in Michigan
Cost of Living in Saranac, MI
Compared to national averages, Saranac has a median household income of $64,157 (15% below the national median of $75,149). Home values average $183,300, which is 25% below the national median. Monthly rent at $415 is 64% below the US average of $1,163. Within Michigan, Saranac's income is 3% below the state average of $66,017, and home values are 0% below the state median of $183,391.
Why Live in Saranac, MI?
Saranac offers affordable housing with a median home value of $183,300, below the US average of $244,900, and rent that’s lower than the national average at $415/month, and a strong job market with an unemployment rate of just 3.2%. Additionally, the city features short commute times averaging just 23.3 minutes.
Potential considerations include median household income ($64,157) that falls below the national average. However, Saranac’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Saranac has a population of 1,973 with a median age of 33.4 years. Compare Saranac with other cities to see how it stacks up, or explore all cities in Michigan.
Similar Cities Near Saranac
Cities in Michigan with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Twin Lake | 1,997 | $80,150 | $232,300 | Compare |
| Baraga | 1,948 | $39,297 | $101,000 | Compare |
| Stony Point | 1,999 | $57,250 | $205,400 | Compare |
| Caledonia | 1,936 | $114,167 | $325,100 | Compare |
| Parchment | 2,012 | $54,572 | $178,400 | Compare |
| Hart | 1,931 | $55,066 | $119,700 | Compare |
| Lake Isabella | 1,931 | $76,923 | $176,800 | Compare |
| Goodrich | 2,024 | $103,864 | $238,300 | 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 Saranac With Other Cities
Frequently Asked Questions about Saranac
What is the population of Saranac, MI?
The population of Saranac, MI is 1,973 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 Saranac?
The median household income in Saranac, MI is $64,157 per year, which is 15% below the national median of $75,149.
What is the median home value in Saranac?
The median home value in Saranac, MI is $183,300, which is 25% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Saranac?
The median monthly rent in Saranac, MI is $415, which is 64% below the national average of $1,163/month.
What is the unemployment rate in Saranac?
The unemployment rate in Saranac, MI is 3.2%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Saranac, MI a good place to live?
Saranac offers a moderate cost of living, affordable housing, and a strong job market. With a population of 1,973 and a median age of 33.4, the city appeals to young professionals and families.
How educated is Saranac, MI?
22.4% of residents in Saranac 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 Saranac?
Key cost-of-living indicators for Saranac, MI: median home value is $183,300 (25% below national), median rent is $415/month, and median household income is $64,157. The home-value-to-income ratio is 2.9x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Saranac?
The poverty rate in Saranac, MI is 13.0%, 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 Saranac, MI?
Saranac's population is 1.9% White, 1.3% Hispanic or Latino, 0.0% Black or African American, 0.8% Asian, and 1.1% two or more races. 1.0% of residents are foreign-born.