Living in Caspian, Michigan
Cost of living, income, home prices, rent and demographics of Caspian · Census data 2020–2024
Caspian has 600 residents with a median age of 49. The median household income is $32,794 (55% lower than the Michigan median), the median home value is $79,100, the median rent is $665/month.
Caspian is a small town, so Census survey estimates have wide margins of error. Treat percentages as approximate.
Caspian at a glance
- Population
- 600
- Median age
- 49State: 40.2
- Median household income
- $32,794State: $72,875
- Median home value
- $79,100State: $231,600
- Median rent
- $665/moState: $1,129
- Homeowners
- 75.3%
- Bachelor's degree or higher
- 12.7%
- Average commute
- 24 min
Is Caspian a good place to live?
Pros: Home values 66% lower than the state median; an average commute of 24 minutes; unemployment of 5%.
Cons: Median household income 55% lower than the Michigan median; a poverty rate of 35.3%.
The weather is best in June to September.
Cost of living in Caspian
Housing is the biggest part of the cost of living. In Caspian the median home value is $79,100, 76% lower than the U.S. median. Renters pay a median of $665 per month, which is 31.9% of household income. Homeowners with a mortgage pay $698 a month in housing costs.
Caspian median household income
The median household income in Caspian is $32,794 and the income per person is $26,914. 35.3% of residents live below the poverty line (Michigan: 13.2%).
Housing in Caspian: homes for sale and rent
- Housing units
- 404
- Owner-occupied
- 75.3%
- Renter-occupied
- 24.7%
- Vacant
- 19.8%Includes seasonal homes
- Median year built
- 1950
- Average household size
- 1.85
Caspian demographics
- Population
- 600
- Median age
- 49
- Under 18
- 16.7%
- 65 and older
- 29.8%
- Households
- 324
- Foreign-born
- 1.3%
- Veterans
- 8%Adults 18+
Hispanic or Latino can be of any race. Population history of Caspian ›
Education in Caspian
12.7% of adults 25 and older in Caspian have a bachelor's degree or higher (Michigan: 32.4%), and 4.8% have a graduate or professional degree.
Jobs and commute in Caspian
- Unemployment rate
- 5%State: 5.7%
- Average commute
- 24 minState: 24 min
- Work from home
- 8.3%
- Drive alone
- 76.7%
- Public transit
- 0%
- Walk to work
- 1.9%
- Homes with broadband
- 82.4%
Caspian vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Caspian | 600 | $32,794 | $79,100 | $665 |
| Gaastra | 296 | $47,708 | $49,200 | $685 |
| Iron River | 3,002 | $54,183 | $85,000 | $486 |
| Alpha | 215 | $39,115 | $34,100 | — |
| Amasa | 253 | $40,764 | $85,400 | $713 |
| Crystal Falls | 1,719 | $60,865 | $83,300 | $791 |
| Florence | 488 | $40,368 | $85,700 | $545 |
| Kingsford | 5,124 | $61,635 | $132,100 | $917 |
| Three Lakes | 410 | $44,844 | $170,000 | $770 |
More for people moving to Caspian
Caspian ZIP code ›Weather and climate ›Living in Caspian: FAQ
What is the median household income in Caspian, MI?
The median household income in Caspian is $32,794, 55% lower than the Michigan median of $72,875 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Caspian?
The median home value in Caspian is $79,100, compared with $231,600 in Michigan.
How much is rent in Caspian?
The median gross rent in Caspian is $665 per month, about 31.9% of household income.
Is Caspian, MI a good place to live?
Pluses: home values 66% lower than the state median; an average commute of 24 minutes; unemployment of 5%. Minuses: median household income 55% lower than the Michigan median; a poverty rate of 35.3%.
What is the median age in Caspian?
The median age in Caspian is 49 years (Michigan: 40.2).
How long is the commute in Caspian?
The average commute to work in Caspian is 24 minutes; 8.3% of workers work from home.
What is the unemployment rate in Caspian?
The unemployment rate in Caspian is 5% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Caspian?
12.7% of adults in Caspian have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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