Living in Indian River, Michigan
Cost of living, income, home prices, rent and demographics of Indian River · Census data 2020–2024
Indian River has 2,039 residents with a median age of 62.7. The median household income is $62,140 (15% lower than the Michigan median), the median home value is $314,100.
Indian River at a glance
- Population
- 2,039
- Median age
- 62.7State: 40.2
- Median household income
- $62,140State: $72,875
- Median home value
- $314,100State: $231,600
- Homeowners
- 83.5%
- Bachelor's degree or higher
- 46.5%
- Average commute
- 33 min
Is Indian River a good place to live?
Pros: Unemployment of 3.8%; a poverty rate of 10.6%.
Cons: Median household income 15% lower than the Michigan median; home values 36% higher than the state median; an average commute of 33 minutes.
The weather is best in June to September.
Cost of living in Indian River
Housing is the biggest part of the cost of living. In Indian River the median home value is $314,100, 6% lower than the U.S. median. Renters pay a median of — per month, which is 41.5% of household income. Homeowners with a mortgage pay $1,375 a month in housing costs.
Indian River median household income
The median household income in Indian River is $62,140 and the income per person is $57,274. 10.6% of residents live below the poverty line (Michigan: 13.2%).
Housing in Indian River: homes for sale and rent
- Housing units
- 1,997
- Owner-occupied
- 83.5%
- Renter-occupied
- 16.5%
- Vacant
- 45.8%Includes seasonal homes
- Median year built
- 1984
- Average household size
- 1.88
45.8% of homes are vacant most of the year, a sign that Indian River has many vacation and second homes.
Indian River demographics
- Population
- 2,039
- Median age
- 62.7
- Under 18
- 8.4%
- 65 and older
- 44.2%
- Households
- 1,083
- Foreign-born
- 3.3%
- Veterans
- 7.9%Adults 18+
Hispanic or Latino can be of any race. Population history of Indian River ›
Education in Indian River
46.5% of adults 25 and older in Indian River have a bachelor's degree or higher (Michigan: 32.4%), and 21.2% have a graduate or professional degree.
Jobs and commute in Indian River
- Unemployment rate
- 3.8%State: 5.7%
- Average commute
- 33 minState: 24 min
- Work from home
- 11.8%
- Drive alone
- 84.4%
- Public transit
- 0%
- Walk to work
- 0%
- Homes with broadband
- 92.9%
Indian River vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Indian River | 2,039 | $62,140 | $314,100 | — |
| Alanson | 834 | $65,139 | $134,100 | $393 |
| Brutus | 198 | $109,375 | $164,100 | — |
| Wolverine | 265 | $67,500 | $89,000 | — |
| Pellston | 755 | $66,875 | $121,000 | $1,030 |
| Conway | 237 | $77,000 | $425,000 | — |
| Bay View | 164 | $236,500 | $375,500 | — |
| Cheboygan | 4,820 | $42,290 | $123,200 | $683 |
| Tower | 275 | $56,250 | $94,800 | $850 |
More for people moving to Indian River
Indian River ZIP code ›Weather and climate ›Living in Indian River: FAQ
What is the median household income in Indian River, MI?
The median household income in Indian River is $62,140, 15% 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 Indian River?
The median home value in Indian River is $314,100, compared with $231,600 in Michigan.
Is Indian River, MI a good place to live?
Pluses: unemployment of 3.8%; a poverty rate of 10.6%. Minuses: median household income 15% lower than the Michigan median; home values 36% higher than the state median; an average commute of 33 minutes.
What is the median age in Indian River?
The median age in Indian River is 62.7 years (Michigan: 40.2).
How long is the commute in Indian River?
The average commute to work in Indian River is 33 minutes; 11.8% of workers work from home.
What is the unemployment rate in Indian River?
The unemployment rate in Indian River is 3.8% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Indian River?
46.5% of adults in Indian River 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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