Living in Wakefield, Michigan
Cost of living, income, home prices, rent and demographics of Wakefield · Census data 2020–2024
Wakefield has 1,683 residents with a median age of 52.8. The median household income is $55,759 (23% lower than the Michigan median), the median home value is $79,100, the median rent is $649/month.
Wakefield at a glance
- Population
- 1,683
- Median age
- 52.8State: 40.2
- Median household income
- $55,759State: $72,875
- Median home value
- $79,100State: $231,600
- Median rent
- $649/moState: $1,129
- Homeowners
- 82.1%
- Bachelor's degree or higher
- 13.4%
- Average commute
- 22 min
Is Wakefield a good place to live?
Pros: Home values 66% lower than the state median; an average commute of 22 minutes; unemployment of 4.1%.
Cons: Median household income 23% lower than the Michigan median; a poverty rate of 15%.
The weather is best in June to September.
Cost of living in Wakefield
Housing is the biggest part of the cost of living. In Wakefield the median home value is $79,100, 76% lower than the U.S. median. Renters pay a median of $649 per month, which is 25% of household income. Homeowners with a mortgage pay $1,026 a month in housing costs.
Wakefield median household income
The median household income in Wakefield is $55,759 and the income per person is $34,648. 15% of residents live below the poverty line (Michigan: 13.2%).
Housing in Wakefield: homes for sale and rent
- Housing units
- 965
- Owner-occupied
- 82.1%
- Renter-occupied
- 17.9%
- Vacant
- 23.2%Includes seasonal homes
- Median year built
- 1948
- Average household size
- 2.11
Wakefield demographics
- Population
- 1,683
- Median age
- 52.8
- Under 18
- 15.7%
- 65 and older
- 28.8%
- Households
- 741
- Foreign-born
- 0.9%
- Veterans
- 10.5%Adults 18+
Hispanic or Latino can be of any race. Population history of Wakefield ›
Education in Wakefield
13.4% of adults 25 and older in Wakefield have a bachelor's degree or higher (Michigan: 32.4%), and 3.2% have a graduate or professional degree.
Jobs and commute in Wakefield
- Unemployment rate
- 4.1%State: 5.7%
- Average commute
- 22 minState: 24 min
- Work from home
- 2.8%
- Drive alone
- 74%
- Public transit
- 0%
- Walk to work
- 3%
- Homes with broadband
- 88.5%
Wakefield vs nearby towns
More for people moving to Wakefield
Wakefield ZIP code ›Weather and climate ›Living in Wakefield: FAQ
What is the median household income in Wakefield, MI?
The median household income in Wakefield is $55,759, 23% 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 Wakefield?
The median home value in Wakefield is $79,100, compared with $231,600 in Michigan.
How much is rent in Wakefield?
The median gross rent in Wakefield is $649 per month, about 25% of household income.
Is Wakefield, MI a good place to live?
Pluses: home values 66% lower than the state median; an average commute of 22 minutes; unemployment of 4.1%. Minuses: median household income 23% lower than the Michigan median; a poverty rate of 15%.
What is the median age in Wakefield?
The median age in Wakefield is 52.8 years (Michigan: 40.2).
How long is the commute in Wakefield?
The average commute to work in Wakefield is 22 minutes; 2.8% of workers work from home.
What is the unemployment rate in Wakefield?
The unemployment rate in Wakefield is 4.1% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Wakefield?
13.4% of adults in Wakefield 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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