Lake County, Michigan
Income Data
At a Glance
How Lake County Compares
Detailed Income Statistics
Data Story
About Household Income in Lake County, Michigan
Lake County faces income challenges nationally
Lake County's median household income of $49,680 trails the U.S. median of $74,755 by 34%, placing it among the lowest-earning counties in America. Economic opportunities remain limited in this rural Upper Peninsula community.
Struggling within Michigan's income landscape
At $49,680, Lake County's median household income falls 23% below Michigan's state average of $64,304. The county faces persistent economic headwinds, with limited job diversity and population decline affecting regional earning power.
Among Michigan's lowest-earning counties
Lake County's $49,680 median income is the lowest among the eight counties profiled here, trailing even Luce County ($54,338) and Keweenaw County ($53,893). The county struggles economically compared to more developed regions like Kent and Livingston counties.
Housing costs strain household budgets
Lake County's 20.9% rent-to-income ratio approaches the affordability danger zone, meaning housing consumes a significant share of household budgets. While the median home value of $122,900 is low in absolute terms, it represents a higher burden relative to the lower median income.
Prioritize financial stability and skill building
Lake County residents should focus on building emergency savings and reducing debt to create financial breathing room. Consider investing in job training, education, or entrepreneurship to increase earning potential and long-term wealth prospects.
Frequently Asked Questions
What is the median household income in Lake County, Michigan?
How much do people earn in Lake County?
How does Lake County compare to the Michigan average?
What is the per capita income in Lake County, Michigan?
Is Lake County a low-income area in Michigan?
How does Lake County rank for income in Michigan?
Income Comparison Calculator
See how your household income compares in Lake County
Your income is above the Lake County median
County median: $49,680 per year
vs. County Median
+0%
vs. State Average
-23%
vs. National Median
-34%
Income Adequacy
Your monthly income ($4,140) vs. median rent ($863/mo). A ratio of 3.3x or higher means rent is under 30% of income.
Grow Your Wealth
See how your income stacks up in Lake County, Michigan? Start investing smarter with a robo-advisor that builds a diversified portfolio for you.
Start InvestingCounties with Similar Income Levels
Compare Financial Products in Michigan
Compare savings accounts, CDs, and money market rates from top banks to make the most of your earnings.
Compare RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.