Living in Dollar Bay, Michigan
Cost of living, income, home prices, rent and demographics of Dollar Bay · Census data 2020–2024
Dollar Bay has 1,049 residents with a median age of 31.3. The median household income is $61,250 (16% lower than the Michigan median), the median home value is $153,100, the median rent is $825/month.
Dollar Bay is a small town, so Census survey estimates have wide margins of error. Treat percentages as approximate.
Dollar Bay at a glance
- Population
- 1,049
- Median age
- 31.3State: 40.2
- Median household income
- $61,250State: $72,875
- Median home value
- $153,100State: $231,600
- Median rent
- $825/moState: $1,129
- Homeowners
- 89.4%
- Bachelor's degree or higher
- 23.1%
- Average commute
- 17 min
Is Dollar Bay a good place to live?
Pros: Home values 34% lower than the state median; an average commute of 17 minutes; unemployment of 1.4%.
Cons: Median household income 16% lower than the Michigan median; a poverty rate of 13.5%.
The weather is best in June to September.
Cost of living in Dollar Bay
Housing is the biggest part of the cost of living. In Dollar Bay the median home value is $153,100, 54% lower than the U.S. median. Renters pay a median of $825 per month, which is 42.7% of household income. Homeowners with a mortgage pay $1,115 a month in housing costs.
Dollar Bay median household income
The median household income in Dollar Bay is $61,250 and the income per person is $34,085. 13.5% of residents live below the poverty line (Michigan: 13.2%).
Housing in Dollar Bay: homes for sale and rent
- Housing units
- 460
- Owner-occupied
- 89.4%
- Renter-occupied
- 10.6%
- Vacant
- 18.3%Includes seasonal homes
- Median year built
- 1970
- Average household size
- 2.79
Dollar Bay demographics
- Population
- 1,049
- Median age
- 31.3
- Under 18
- 32%
- 65 and older
- 17.6%
- Households
- 376
- Foreign-born
- 0.6%
- Veterans
- 7.5%Adults 18+
Hispanic or Latino can be of any race. Population history of Dollar Bay ›
Education in Dollar Bay
23.1% of adults 25 and older in Dollar Bay have a bachelor's degree or higher (Michigan: 32.4%), and 6.1% have a graduate or professional degree.
Jobs and commute in Dollar Bay
- Unemployment rate
- 1.4%State: 5.7%
- Average commute
- 17 minState: 24 min
- Work from home
- 5.7%
- Drive alone
- 80.5%
- Public transit
- 0%
- Walk to work
- 5.2%
- Homes with broadband
- 87%
Dollar Bay vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Dollar Bay | 1,049 | $61,250 | $153,100 | $825 |
| Houghton | 8,474 | $43,456 | $254,500 | $978 |
| Hurontown | 134 | $61,354 | — | — |
| Hancock | 4,574 | $59,519 | $165,600 | $835 |
| Hubbell | 881 | $53,333 | $85,400 | $1,047 |
| Lake Linden | 1,020 | $43,472 | $97,000 | $543 |
| Atlantic Mine | 491 | $55,481 | $103,500 | — |
| Chassell | 899 | $54,148 | $167,600 | — |
| Laurium | 1,509 | $54,167 | $126,100 | $808 |
More for people moving to Dollar Bay
Dollar Bay ZIP code ›Weather and climate ›Living in Dollar Bay: FAQ
What is the median household income in Dollar Bay, MI?
The median household income in Dollar Bay is $61,250, 16% 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 Dollar Bay?
The median home value in Dollar Bay is $153,100, compared with $231,600 in Michigan.
How much is rent in Dollar Bay?
The median gross rent in Dollar Bay is $825 per month, about 42.7% of household income.
Is Dollar Bay, MI a good place to live?
Pluses: home values 34% lower than the state median; an average commute of 17 minutes; unemployment of 1.4%. Minuses: median household income 16% lower than the Michigan median; a poverty rate of 13.5%.
What is the median age in Dollar Bay?
The median age in Dollar Bay is 31.3 years (Michigan: 40.2).
How long is the commute in Dollar Bay?
The average commute to work in Dollar Bay is 17 minutes; 5.7% of workers work from home.
What is the unemployment rate in Dollar Bay?
The unemployment rate in Dollar Bay is 1.4% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Dollar Bay?
23.1% of adults in Dollar Bay 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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