Living in Farwell, Michigan
Cost of living, income, home prices, rent and demographics of Farwell · Census data 2020–2024
Farwell has 974 residents with a median age of 43.1. The median household income is $42,188 (42% lower than the Michigan median), the median home value is $98,700, the median rent is $513/month.
Farwell is a small town, so Census survey estimates have wide margins of error. Treat percentages as approximate.
Farwell at a glance
- Population
- 974
- Median age
- 43.1State: 40.2
- Median household income
- $42,188State: $72,875
- Median home value
- $98,700State: $231,600
- Median rent
- $513/moState: $1,129
- Homeowners
- 69.3%
- Bachelor's degree or higher
- 11.4%
- Average commute
- 24 min
Is Farwell a good place to live?
Pros: Home values 57% lower than the state median; an average commute of 24 minutes; unemployment of 4.4%.
Cons: Median household income 42% lower than the Michigan median; a poverty rate of 25.9%.
The weather is best in June to September.
Cost of living in Farwell
Housing is the biggest part of the cost of living. In Farwell the median home value is $98,700, 70% lower than the U.S. median. Renters pay a median of $513 per month, which is 26.7% of household income. Homeowners with a mortgage pay $1,070 a month in housing costs.
Farwell median household income
The median household income in Farwell is $42,188 and the income per person is $24,117. 25.9% of residents live below the poverty line (Michigan: 13.2%).
Housing in Farwell: homes for sale and rent
- Housing units
- 449
- Owner-occupied
- 69.3%
- Renter-occupied
- 30.7%
- Vacant
- 13.8%Includes seasonal homes
- Median year built
- 1973
- Average household size
- 2.52
Farwell demographics
- Population
- 974
- Median age
- 43.1
- Under 18
- 23.4%
- 65 and older
- 19.6%
- Households
- 387
- Foreign-born
- 0.9%
- Veterans
- 6.3%Adults 18+
Hispanic or Latino can be of any race. Population history of Farwell ›
Education in Farwell
11.4% of adults 25 and older in Farwell have a bachelor's degree or higher (Michigan: 32.4%), and 3.9% have a graduate or professional degree.
Jobs and commute in Farwell
- Unemployment rate
- 4.4%State: 5.7%
- Average commute
- 24 minState: 24 min
- Work from home
- 4.6%
- Drive alone
- 70.4%
- Public transit
- 0%
- Walk to work
- 5.9%
- Homes with broadband
- 90.2%
Farwell vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Farwell | 974 | $42,188 | $98,700 | $513 |
| Clare | 3,324 | $41,226 | $134,600 | $822 |
| Rosebush | 331 | $44,750 | $104,500 | $591 |
| Loomis | 200 | $71,500 | $87,600 | — |
| Beal City | 293 | $74,875 | $197,700 | — |
| Harrison | 2,110 | $39,430 | $135,100 | $620 |
| Coleman | 1,206 | $47,868 | $103,500 | $643 |
| Lake Isabella | 2,085 | $77,500 | $184,000 | $964 |
| Barryton | 394 | $52,875 | $95,900 | $788 |
More for people moving to Farwell
Farwell ZIP code ›Weather and climate ›Living in Farwell: FAQ
What is the median household income in Farwell, MI?
The median household income in Farwell is $42,188, 42% 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 Farwell?
The median home value in Farwell is $98,700, compared with $231,600 in Michigan.
How much is rent in Farwell?
The median gross rent in Farwell is $513 per month, about 26.7% of household income.
Is Farwell, MI a good place to live?
Pluses: home values 57% lower than the state median; an average commute of 24 minutes; unemployment of 4.4%. Minuses: median household income 42% lower than the Michigan median; a poverty rate of 25.9%.
What is the median age in Farwell?
The median age in Farwell is 43.1 years (Michigan: 40.2).
How long is the commute in Farwell?
The average commute to work in Farwell is 24 minutes; 4.6% of workers work from home.
What is the unemployment rate in Farwell?
The unemployment rate in Farwell is 4.4% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Farwell?
11.4% of adults in Farwell 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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