IncomeBy County

Lake County, Michigan

Income Data

U.S. Census Bureau ACS
-23% vs. Michigan average
$49,680
Median Household Income
$27,369
Per Capita Income

At a Glance

Median Household Income
$49,680
-23% vs. state avg
Per Capita Income
$27,369
-31% vs. national
Income-to-Housing Ratio
40.4%
income as % of home value
Rank in Michigan
#80 / 83
by median household income

Economic Indicators

Unemployment Rate
N/A
Labor Force Participation
N/A

How Lake County Compares

Lake County$49,680
Michigan Average$64,304
National Median$74,755

Detailed Income Statistics

$49,680
Median Household Income
$27,369
Per Capita Income
$122,900
Median Home Value
40.4%
Income-to-Housing Ratio

Income Advisory: Lake County

Income Verdict

Lake County has a median household income of $49,680 and per capita income of $27,369 — a gap of $22,311, suggesting a typical mix of dual-income and single-earner households.

Housing Affordability

With median gross rent at $863/month and a median household income of $49,680, rent consumes approximately 20.8% of monthly income — well within affordable thresholds.

Economic Context

With a median household income of $49,680, residents of Lake County likely face budget constraints in higher-cost regions but may find cost of living manageable locally. Per capita income of $27,369 suggests below-average individual earnings, which may reflect local employment mix or industrial composition.

Neighbor Context

Lake County earns approximately 22.7% below the Michigan state median household income of $64,304.

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?
The median household income in Lake County, Michigan is $49,680, according to U.S. Census Bureau American Community Survey 2019-2023 5-Year Estimates. This represents the midpoint of all household incomes in the county.
How much do people earn in Lake County?
The per capita income in Lake County is $27,369, which represents the average income per person across the entire county population. The median household income — which accounts for all earners in a household — is $49,680.
How does Lake County compare to the Michigan average?
Lake County's median household income of $49,680 is lower than the Michigan state average of $64,304. The per capita income is $27,369, compared to the state average of $35,451.
What is the per capita income in Lake County, Michigan?
The per capita income in Lake County, Michigan is $27,369, according to U.S. Census Bureau American Community Survey 2019-2023 5-Year Estimates. Per capita income is calculated by dividing total personal income by total population, providing an average income figure per resident.
Is Lake County a low-income area in Michigan?
Lake County's median household income of $49,680 is below the Michigan average of $64,304. The per capita income of $27,369 is also lower than the state average of $35,451. Lower incomes can reflect the local economic base, rural vs. urban location, and employment opportunities available in the area.
How does Lake County rank for income in Michigan?
Lake County ranks #80 out of 83 counties in Michigan by median household income (1 = highest). With a median household income of $49,680 and per capita income of $27,369, it falls in the bottom third of counties statewide.

Income Comparison Calculator

See how your household income compares in Lake County

$
1.00x

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%

vs. Lake County MedianAbout equal
vs. Michigan Average▼ 23% below
vs. National Median▼ 34% below

Income Adequacy

Monthly income covers median rent4.8x

Your monthly income ($4,140) vs. median rent ($863/mo). A ratio of 3.3x or higher means rent is under 30% of income.

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Counties with Similar Income Levels

Gogebic County
Michigan
$49,672
+0%
Colquitt County
Georgia
$49,691
+0%
Fleming County
Kentucky
$49,663
+0%
Morgan County
Missouri
$49,663
+0%
Laurens County
Georgia
$49,705
+0%
Bledsoe County
Tennessee
$49,655
+0%
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By Logan Johnson, Founder & Data EditorUpdated Reviewed by Logan Johnson, Founder & Data Editor

Data: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.

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