Living in Lathrup Village, Michigan
Cost of living, income, home prices, rent and demographics of Lathrup Village · Census data 2020–2024
Lathrup Village has 4,059 residents with a median age of 50.2. The median household income is $109,893 (51% higher than the Michigan median), the median home value is $310,600, the median rent is $1,483/month.
Lathrup Village at a glance
- Population
- 4,059
- Median age
- 50.2State: 40.2
- Median household income
- $109,893State: $72,875
- Median home value
- $310,600State: $231,600
- Median rent
- $1,483/moState: $1,129
- Homeowners
- 92.1%
- Bachelor's degree or higher
- 54.8%
- Average commute
- 23 min
Is Lathrup Village a good place to live?
Pros: Median household income 51% higher than the Michigan median; an average commute of 23 minutes; unemployment of 4.2%; a poverty rate of 5.6%.
Cons: Home values 34% higher than the state median.
The weather is best in June to September.
Cost of living in Lathrup Village
Housing is the biggest part of the cost of living. In Lathrup Village the median home value is $310,600, 7% lower than the U.S. median. Renters pay a median of $1,483 per month, which is 25.4% of household income. Homeowners with a mortgage pay $1,931 a month in housing costs.
Lathrup Village median household income
The median household income in Lathrup Village is $109,893 and the income per person is $59,577. 5.6% of residents live below the poverty line (Michigan: 13.2%).
Housing in Lathrup Village: homes for sale and rent
- Housing units
- 1,658
- Owner-occupied
- 92.1%
- Renter-occupied
- 7.9%
- Vacant
- 2.8%Includes seasonal homes
- Median year built
- 1955
- Average household size
- 2.47
Lathrup Village demographics
- Population
- 4,059
- Median age
- 50.2
- Under 18
- 14.3%
- 65 and older
- 28.4%
- Households
- 1,611
- Foreign-born
- 5.1%
- Veterans
- 5.2%Adults 18+
Hispanic or Latino can be of any race. Population history of Lathrup Village ›
Education in Lathrup Village
54.8% of adults 25 and older in Lathrup Village have a bachelor's degree or higher (Michigan: 32.4%), and 29.4% have a graduate or professional degree.
Jobs and commute in Lathrup Village
- Unemployment rate
- 4.2%State: 5.7%
- Average commute
- 23 minState: 24 min
- Work from home
- 22.3%
- Drive alone
- 73.7%
- Public transit
- 0%
- Walk to work
- 2.4%
- Homes with broadband
- 99.4%
Lathrup Village vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Lathrup Village | 4,059 | $109,893 | $310,600 | $1,483 |
| Southfield | 76,236 | $68,166 | $236,200 | $1,340 |
| Berkley | 15,149 | $116,239 | $316,700 | $1,526 |
| Beverly Hills | 10,524 | $177,412 | $511,000 | $2,077 |
| Oak Park | 29,318 | $71,510 | $212,300 | $1,396 |
| Huntington Woods | 6,328 | $190,150 | $473,900 | $2,493 |
| Bingham Farms | 1,680 | $244,618 | $580,500 | $3,501 |
| Birmingham | 21,763 | $153,510 | $698,300 | $1,902 |
| Royal Oak | 57,950 | $101,109 | $328,700 | $1,381 |
More for people moving to Lathrup Village
Lathrup Village ZIP code ›Weather and climate ›Living in Lathrup Village: FAQ
What is the median household income in Lathrup Village, MI?
The median household income in Lathrup Village is $109,893, 51% higher 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 Lathrup Village?
The median home value in Lathrup Village is $310,600, compared with $231,600 in Michigan.
How much is rent in Lathrup Village?
The median gross rent in Lathrup Village is $1,483 per month, about 25.4% of household income.
Is Lathrup Village, MI a good place to live?
Pluses: median household income 51% higher than the Michigan median; an average commute of 23 minutes; unemployment of 4.2%; a poverty rate of 5.6%. Minuses: home values 34% higher than the state median.
What is the median age in Lathrup Village?
The median age in Lathrup Village is 50.2 years (Michigan: 40.2).
How long is the commute in Lathrup Village?
The average commute to work in Lathrup Village is 23 minutes; 22.3% of workers work from home.
What is the unemployment rate in Lathrup Village?
The unemployment rate in Lathrup Village is 4.2% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Lathrup Village?
54.8% of adults in Lathrup Village 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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