Living in Laurium, Michigan
Cost of living, income, home prices, rent and demographics of Laurium · Census data 2020–2024
Laurium has 1,509 residents with a median age of 46.1. The median household income is $54,167 (26% lower than the Michigan median), the median home value is $126,100, the median rent is $808/month.
Laurium at a glance
- Population
- 1,509
- Median age
- 46.1State: 40.2
- Median household income
- $54,167State: $72,875
- Median home value
- $126,100State: $231,600
- Median rent
- $808/moState: $1,129
- Homeowners
- 75.8%
- Bachelor's degree or higher
- 31.1%
- Average commute
- 14 min
Is Laurium a good place to live?
Pros: Home values 46% lower than the state median; an average commute of 14 minutes; unemployment of 3.6%.
Cons: Median household income 26% lower than the Michigan median; a poverty rate of 16%.
The weather is best in June to September.
Cost of living in Laurium
Housing is the biggest part of the cost of living. In Laurium the median home value is $126,100, 62% lower than the U.S. median. Renters pay a median of $808 per month, which is 31% of household income. Homeowners with a mortgage pay $1,109 a month in housing costs.
Laurium median household income
The median household income in Laurium is $54,167 and the income per person is $33,067. 16% of residents live below the poverty line (Michigan: 13.2%).
Housing in Laurium: homes for sale and rent
- Housing units
- 926
- Owner-occupied
- 75.8%
- Renter-occupied
- 24.2%
- Vacant
- 18.4%Includes seasonal homes
- Median year built
- 1938
- Average household size
- 2.00
Laurium demographics
- Population
- 1,509
- Median age
- 46.1
- Under 18
- 14.1%
- 65 and older
- 22.5%
- Households
- 756
- Foreign-born
- 0.8%
- Veterans
- 13.3%Adults 18+
Hispanic or Latino can be of any race. Population history of Laurium ›
Education in Laurium
31.1% of adults 25 and older in Laurium have a bachelor's degree or higher (Michigan: 32.4%), and 16.5% have a graduate or professional degree.
Jobs and commute in Laurium
- Unemployment rate
- 3.6%State: 5.7%
- Average commute
- 14 minState: 24 min
- Work from home
- 8.5%
- Drive alone
- 62.9%
- Public transit
- 0%
- Walk to work
- 5.5%
- Homes with broadband
- 86.2%
Laurium vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Laurium | 1,509 | $54,167 | $126,100 | $808 |
| Calumet | 645 | $26,667 | $84,400 | $667 |
| Lake Linden | 1,020 | $43,472 | $97,000 | $543 |
| Hubbell | 881 | $53,333 | $85,400 | $1,047 |
| Copper City | 253 | $51,250 | $103,400 | $817 |
| Mohawk | 264 | $28,224 | $95,600 | — |
| Dollar Bay | 1,049 | $61,250 | $153,100 | $825 |
| Hancock | 4,574 | $59,519 | $165,600 | $835 |
| Houghton | 8,474 | $43,456 | $254,500 | $978 |
More for people moving to Laurium
Laurium ZIP code ›Weather and climate ›Living in Laurium: FAQ
What is the median household income in Laurium, MI?
The median household income in Laurium is $54,167, 26% 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 Laurium?
The median home value in Laurium is $126,100, compared with $231,600 in Michigan.
How much is rent in Laurium?
The median gross rent in Laurium is $808 per month, about 31% of household income.
Is Laurium, MI a good place to live?
Pluses: home values 46% lower than the state median; an average commute of 14 minutes; unemployment of 3.6%. Minuses: median household income 26% lower than the Michigan median; a poverty rate of 16%.
What is the median age in Laurium?
The median age in Laurium is 46.1 years (Michigan: 40.2).
How long is the commute in Laurium?
The average commute to work in Laurium is 14 minutes; 8.5% of workers work from home.
What is the unemployment rate in Laurium?
The unemployment rate in Laurium is 3.6% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Laurium?
31.1% of adults in Laurium 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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