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ZipNumbers

Michigan · Census place 25320

Elk Rapids village, MI

Quick answer

Elk Rapids village has 1,558 residents, ranking #354 of 745 places in Michigan. Median household income is $78,472, the median home is worth $348,400 and median gross rent runs $1,032 a month.

Population
1,558Elk Rapids village residents
Median household income
$78,472Past 12 months, inflation adjusted
Median home value
$348,400Owner-occupied units
Median gross rent
$1,032Rent plus utilities, monthly
Median age
57.5 yrsAll residents
Homeownership rate
78.5%Owner-occupied households

What the numbers mean in Elk Rapids village

Housing cost measured against local earnings.

A household earning the Elk Rapids village median would spend about 15.8% of gross income on the median rent. The 30% mark is the federal threshold for cost burden, so anything above it signals a stretched rental market. The median home costs 4.4× the median household income; nationally that ratio sits near 4.5×. Poverty affects 4.3% of residents and 78.5% of households own their home.

Source: US Census Bureau, ACS 2019-2023 5-year estimates · rates as published for 2019-2023 ACS 5-year

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