Three Lakes, MI
Population 222 · Michigan
About Three Lakes, MI
Three Lakes is a small community located in Michigan with a population of 222 residents according to the latest US Census Bureau American Community Survey data. The median household income is $105,833 per year, which is 41% above the national median of $75,149. The median age of 60.5 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 Three Lakes features a median home value of $258,300, which is 5% above the national median of $244,900. This positions Three Lakes in a moderately priced market relative to the rest of the country. Median monthly rent is $0, 100% below the national average of $1,163/month. Of the 256 total housing units, 93% are owner-occupied (95 units) and 7% are renter-occupied (7 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Three Lakes shows an unemployment rate of 2.2%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 3.2%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Three Lakes have an average one-way commute time of 42.7 minutes, suggesting many residents commute to jobs in a nearby metro area.
Education & Demographics
37.7% of Three Lakes residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This is in line with national trends in educational attainment. The community's demographic composition includes 0.0% White, 4.1% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 0.5% of the population being foreign-born.
Cost of Living in Three Lakes, MI
Compared to national averages, Three Lakes has a median household income of $105,833 (41% above the national median of $75,149). Home values average $258,300, which is 5% above the national median. Monthly rent at $0 is 100% below the US average of $1,163. Within Michigan, Three Lakes's income is 60% above the state average of $66,017, and home values are 41% above the state median of $183,391.
Why Live in Three Lakes, MI?
Three Lakes offers a strong local economy with a median household income of $105,833, well above the national average, and rent that’s lower than the national average at $0/month, and a strong job market with an unemployment rate of just 2.2%. Additionally, the city features a well-educated community where 37.7% of residents hold a bachelor’s degree or higher, and a low poverty rate of 3.2%, better than the national average.
Three Lakes has a population of 222 with a median age of 60.5 years. Compare Three Lakes 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 Three Lakes
What is the population of Three Lakes, MI?
The population of Three Lakes, MI is 222 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 Three Lakes?
The median household income in Three Lakes, MI is $105,833 per year, which is 41% above the national median of $75,149.
What is the median home value in Three Lakes?
The median home value in Three Lakes, MI is $258,300, which is 5% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Three Lakes?
The median monthly rent in Three Lakes, MI is $0, which is 100% below the national average of $1,163/month.
What is the unemployment rate in Three Lakes?
The unemployment rate in Three Lakes, MI is 2.2%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Three Lakes, MI a good place to live?
Three Lakes offers above-average incomes, a competitive housing market, and a strong job market. With a population of 222 and a median age of 60.5, the city appeals to established professionals and retirees.
How educated is Three Lakes, MI?
37.7% of residents in Three Lakes aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Three Lakes?
Key cost-of-living indicators for Three Lakes, MI: median home value is $258,300 (5% above national), median rent is $0/month, and median household income is $105,833. The home-value-to-income ratio is 2.4x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Three Lakes?
The poverty rate in Three Lakes, MI is 3.2%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Three Lakes, MI?
Three Lakes's population is 0.0% White, 4.1% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 0.0% two or more races. 0.5% of residents are foreign-born.