Wolf Lake, MI
Population 4,802 · Michigan
About Wolf Lake, MI
Wolf Lake is a small town located in Michigan with a population of 4,802 residents according to the latest US Census Bureau American Community Survey data. The median household income is $49,005 per year, which is 35% below the national median of $75,149. The median age of 30.7 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 Wolf Lake features a median home value of $99,800, which is 59% below the national median of $244,900. This makes Wolf Lake one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $992, 15% below the national average of $1,163/month. Of the 1,793 total housing units, 92% are owner-occupied (1,629 units) and 8% are renter-occupied (137 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Wolf Lake shows an unemployment rate of 11.6%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 14.6%, above the national average of 12.4%. Workers in Wolf Lake have an average one-way commute time of 24 minutes.
Education & Demographics
6.2% of Wolf 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 2.0% White, 0.8% Hispanic or Latino, 0.8% Black or African American, and 0.2% Asian residents, with 0.6% of the population being foreign-born.
Cost of Living in Wolf Lake, MI
Compared to national averages, Wolf Lake has a median household income of $49,005 (35% below the national median of $75,149). Home values average $99,800, which is 59% below the national median. Monthly rent at $992 is 15% below the US average of $1,163. Within Michigan, Wolf Lake's income is 26% below the state average of $66,017, and home values are 46% below the state median of $183,391.
Why Live in Wolf Lake, MI?
Wolf Lake offers affordable housing with a median home value of $99,800, below the US average of $244,900, and rent that’s lower than the national average at $992/month, and short commute times averaging just 24 minutes.
Potential considerations include median household income ($49,005) that falls below the national average. However, Wolf Lake’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Wolf Lake has a population of 4,802 with a median age of 30.7 years. Compare Wolf Lake with other cities to see how it stacks up, or explore all cities in Michigan.
Similar Cities Near Wolf Lake
Cities in Michigan with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Cheboygan | 4,801 | $41,338 | $118,700 | Compare |
| DeWitt | 4,774 | $105,857 | $303,200 | Compare |
| Coopersville | 4,841 | $62,575 | $216,900 | Compare |
| Pearl Beach | 4,846 | $84,079 | $303,000 | Compare |
| Gibraltar | 4,937 | $88,682 | $212,300 | Compare |
| Negaunee | 4,641 | $70,483 | $156,400 | Compare |
| Michigan Center | 4,623 | $68,114 | $159,500 | Compare |
| Ironwood | 5,004 | $37,191 | $74,900 | 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 Wolf Lake With Other Cities
Frequently Asked Questions about Wolf Lake
What is the population of Wolf Lake, MI?
The population of Wolf Lake, MI is 4,802 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 Wolf Lake?
The median household income in Wolf Lake, MI is $49,005 per year, which is 35% below the national median of $75,149.
What is the median home value in Wolf Lake?
The median home value in Wolf Lake, MI is $99,800, which is 59% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Wolf Lake?
The median monthly rent in Wolf Lake, MI is $992, which is 15% below the national average of $1,163/month.
What is the unemployment rate in Wolf Lake?
The unemployment rate in Wolf Lake, MI is 11.6%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Wolf Lake, MI a good place to live?
Wolf Lake offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 4,802 and a median age of 30.7, the city appeals to young professionals and families.
How educated is Wolf Lake, MI?
6.2% of residents in Wolf 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 Wolf Lake?
Key cost-of-living indicators for Wolf Lake, MI: median home value is $99,800 (59% below national), median rent is $992/month, and median household income is $49,005. The home-value-to-income ratio is 2.0x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Wolf Lake?
The poverty rate in Wolf Lake, MI is 14.6%, 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 Wolf Lake, MI?
Wolf Lake's population is 2.0% White, 0.8% Hispanic or Latino, 0.8% Black or African American, 0.2% Asian, and 1.8% two or more races. 0.6% of residents are foreign-born.