Median household income in Michigan is $72,875 and median rent is $1,129 a month, per Census 2020 to 2024 estimates. Compare at least three written offers on APR and total cost, verify the lender's license with the Michigan Department of Insurance and Financial Services, and never pay a fee before funding.
On this page
- Michigan by the numbers
- What the numbers mean for Michigan borrowers
- Largest places in Michigan
- Other sizable places in Michigan
- Counties with the most residents
- How Michigan earns a living
- More context for Michigan budgets
- Checking a lender in Michigan
- Can Michigan residents use the questionnaire?
- Local guides in Michigan
- Frequently asked questions
Michigan by the numbers
Before any advice, the data: Michigan against the country on income, housing costs, work and commuting.
| Measure | Michigan | U.S. | Place among 51 |
|---|---|---|---|
| Median household income | $72,875 | $80,734 | 36th |
| Median home value | $231,600 | $332,700 | 39th |
| Homes owner-occupied | 73% | 65% | 3rd |
| Cost-burdened owners with a mortgage | 23% | 28% | 38th |
| Years of median income to buy the median home | 3.2x | 4.1x | 41st |
| Workers commuting 45+ minutes | 13% | 17% | 29th |
| Workers who work from home | 13% | 15% | 25th |
| Bachelor's degree or higher (age 25+) | 32% | 36% | 32nd |
| Median age | 40.2 | 38.9 | 15th |
| Gini index (inequality) | 0.465 | 0.483 | 28th |
| Households earning under $35,000 | 23% | 21% | 14th |
| Households earning $100,000 or more | 35% | 41% | 35th |
| People below the poverty line | 13.2% | 12.5% | 16th |
| Unemployment rate (ACS) | 5.7% | 5.2% | 12th |
| Median gross rent per month | $1,129 | $1,413 | 32nd |
| Renters paying 30%+ of income on rent | 50% | 51% | 18th |
What the numbers mean for Michigan borrowers
Commutes shape budgets too: 13% of Michigan workers travel 45 minutes or more each way (U.S.: 17%), and 13% work from home. Remote and self-employed workers should expect lenders to ask for bank statements or tax returns in place of a simple pay stub.
Michigan is an owner-heavy state for homeownership: 73% of occupied homes are owned, against 65% nationally. The median value of $231,600 equals 3.2 years of median income. Among owners with a mortgage, 23% spend 30 percent or more of income on housing (U.S.: 28%).
At $72,875, median household income in Michigan ranks 36th of 51 jurisdictions; the national median is $80,734. Half of households earn more than this and half earn less, and a lender will look only at where you sit.
Over 2020 to 2024, 5.7% of the Michigan labor force was unemployed on average in the ACS, against 5.2% nationally; the poverty rate was 13.2%. A new job is not a deal breaker for most lenders, but a gap in income usually is.
Largest places in Michigan
Big-city snapshot for Michigan, ranked by population; a linked name means a full local guide is available.
| Place | County | People | Median income | Median gross rent | Median home value |
|---|---|---|---|---|---|
| Detroit | Wayne County | 638,530 | $39,938 | $1,074 | $83,900 |
| Grand Rapids | Kent County | 198,535 | $69,108 | $1,266 | $244,500 |
| Warren | Macomb County | 137,928 | $64,016 | $1,225 | $193,400 |
| Sterling Heights | Macomb County | 133,573 | $79,909 | $1,292 | $274,300 |
| Ann Arbor | Washtenaw County | 122,036 | $82,212 | $1,649 | $453,400 |
| Lansing | Ingham County, Clinton County | 113,023 | $54,382 | $993 | $128,700 |
| Dearborn | Wayne County | 107,423 | $65,324 | $1,327 | $218,800 |
| Livonia | Wayne County | 93,851 | $98,460 | $1,322 | $281,100 |
| Troy | Oakland County | 87,898 | $120,045 | $1,602 | $420,300 |
| Westland | Wayne County | 83,633 | $62,076 | $1,158 | $184,600 |
| Farmington Hills | Oakland County | 83,515 | $104,836 | $1,551 | $354,500 |
| Flint | Genesee County | 80,175 | $37,646 | $915 | $53,500 |
Of the places the Census Bureau tracks in Michigan, 101 have 10,000 or more people and 24 have 50,000 or more. The income gap between towns is wide: among places over 20,000, Forest Hills has the highest median at $158,005 and Flint the lowest at $37,646. Rents differ just as much, from a median $766 a month in Bay City to $1,958 in Forest Hills.
Other sizable places in Michigan
From Wyoming (77,353 residents) down to Holland (34,423).
| City or town | Residents | Median household income | Median rent |
|---|---|---|---|
| Wyoming | 77,353 | $73,677 | $1,196 |
| Rochester Hills | 77,089 | $120,694 | $1,644 |
| Southfield | 76,236 | $68,166 | $1,340 |
| Kalamazoo | 73,076 | $52,272 | $1,078 |
| Novi | 66,717 | $110,723 | $1,747 |
| Pontiac | 62,104 | $44,329 | $1,063 |
| Taylor | 62,081 | $61,081 | $1,101 |
| Dearborn Heights | 61,771 | $60,391 | $1,331 |
| St. Clair Shores | 58,140 | $73,500 | $1,183 |
| Royal Oak | 57,950 | $101,109 | $1,381 |
| Kentwood | 54,296 | $74,373 | $1,260 |
| Battle Creek | 52,374 | $55,693 | $957 |
| Portage | 49,259 | $83,212 | $1,133 |
| Roseville | 47,123 | $62,182 | $1,233 |
| East Lansing | 45,758 | $45,687 | $1,171 |
| Saginaw | 43,536 | $38,579 | $922 |
| Midland | 42,724 | $73,325 | $1,048 |
| Lincoln Park | 39,257 | $58,616 | $1,023 |
| Muskegon | 37,226 | $44,735 | $996 |
| Holland | 34,423 | $75,865 | $1,193 |
Measured as a year of median rent against median household income, housing weighs most in East Lansing (31%) and least in Portage (16%) among these 20 places.
Counties with the most residents
Of 83 counties in Michigan, these 16 have the most people.
| County | Population | Median household income | Median gross rent | Median home value |
|---|---|---|---|---|
| Wayne County | 1,772,259 | $60,539 | $1,132 | $178,500 |
| Oakland County | 1,279,825 | $97,760 | $1,376 | $343,600 |
| Macomb County | 879,853 | $77,837 | $1,211 | $243,900 |
| Kent County | 663,150 | $82,631 | $1,243 | $289,900 |
| Genesee County | 403,305 | $62,281 | $989 | $182,400 |
| Washtenaw County | 369,822 | $89,180 | $1,463 | $374,100 |
| Ottawa County | 301,203 | $90,502 | $1,211 | $323,400 |
| Ingham County | 283,913 | $65,526 | $1,084 | $198,800 |
| Kalamazoo County | 262,375 | $72,532 | $1,093 | $241,800 |
| Livingston County | 195,833 | $103,039 | $1,287 | $356,800 |
| Saginaw County | 188,665 | $60,622 | $947 | $152,800 |
| Muskegon County | 175,961 | $65,024 | $1,028 | $198,300 |
| St. Clair County | 160,221 | $71,270 | $1,029 | $224,600 |
| Jackson County | 160,060 | $66,073 | $985 | $193,700 |
| Monroe County | 155,505 | $77,335 | $1,059 | $228,900 |
| Berrien County | 153,288 | $65,425 | $942 | $224,300 |
The richest county by median income is Livingston County ($103,039); the lowest is Clare County ($49,384). Lenders price your own file, not your county, but local costs decide how much payment your budget can carry.
How Michigan earns a living
The jobs mix in Michigan: the four largest industries by share of employed residents 16 and older.
| Industry | Share of Michigan workers | U.S. share | Gap vs U.S. |
|---|---|---|---|
| Education, health care and social assistance | 23% | 24% | -0.2 pts |
| Manufacturing | 18% | 10% | +8.4 pts |
| Retail trade | 11% | 11% | -0.0 pts |
| Professional, scientific and administrative services | 10% | 13% | -2.3 pts |
Relative to the nation, manufacturing is overrepresented in Michigan (18% vs 10%). If your income comes from self-employment or gig work, gather two years of tax returns and recent bank statements before you compare offers.
More context for Michigan budgets
About 23% of households in Michigan take in less than $35,000 a year and 35% take in $100,000 or more; nationally the shares are 21% and 41%. A wide spread like this is why one-size borrowing advice fails; size the loan to your own pay, not to the state's.
Education and age round out the picture: 32% of Michigan adults have at least a bachelor's degree (U.S.: 36%), the median age is 40.2, and the Gini index is 0.465.
Median gross rent in Michigan is $1,129 a month, ranking 32nd, and 50% of renters are cost-burdened by the Census definition, compared with 51% nationally. A moving or deposit loan is common among renters; compare it with a payment plan from the landlord or utility first.
Checking a lender in Michigan
A two-minute check protects you: look the lender up before you share a Social Security number. In Michigan the banking agency named by CSBS is the Michigan Department of Insurance and Financial Services.
- Complaints can go to the state agency and to the CFPB.
- Confirm the license on NMLS Consumer Access before you upload documents.
- Legitimate lenders take fees out of the loan or bill them later, never by gift card or wire first (FTC).
Can Michigan residents use the questionnaire?
Coverage is added state by state. A Michigan resident who picks the state on step two learns immediately whether a partner is available, and can join the waitlist if not.
Local guides in Michigan
City-level guides for Michigan (12 so far):
Frequently asked questions
Who regulates personal lenders in Michigan?
The state banking agency listed for Michigan by the Conference of State Bank Supervisors is the Michigan Department of Insurance and Financial Services. Many lenders' state licenses also appear on NMLS Consumer Access, and the CFPB takes complaints nationwide.
What do households in Michigan earn?
The Census Bureau puts it at $72,875, which places Michigan 36th of 51 (U.S.: $80,734).
Is rent high in Michigan?
The typical renter pays $1,129; the U.S. median is $1,413. In Michigan, 50% of renting households spend 30 percent or more of income on housing.
How common are long commutes in Michigan?
13% of Michigan workers travel 45 minutes or more to work, against 17% nationally (ACS 2020 to 2024). Long drives raise fuel and repair costs, so build them into any loan budget.