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ZipNumbers

Michigan · Census place 27500

Farwell village, MI

Quick answer

Farwell village has 1,086 residents, ranking #422 of 745 places in Michigan. Median household income is $40,667, the median home is worth $95,800 and median gross rent runs $496 a month.

Population
1,086Farwell village residents
Median household income
$40,667Past 12 months, inflation adjusted
Median home value
$95,800Owner-occupied units
Median gross rent
$496Rent plus utilities, monthly
Median age
39.5 yrsAll residents
Homeownership rate
64.6%Owner-occupied households

What the numbers mean in Farwell village

Housing cost measured against local earnings.

A household earning the Farwell village median would spend about 14.6% 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 2.4× the median household income; nationally that ratio sits near 4.5×. Poverty affects 26.3% of residents and 64.6% 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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