Race & Ethnicity
Age Breakdown
Key Indicators
| Median Age | 47.2 yrs |
|---|---|
| Avg HH Size | 2.20 |
| Below Poverty | 18.0% ▲ 80% above avg |
| College Grads | 32.8% ▼ 15% below avg |
| Unemployment | 2.4% ▼ 51% below avg |
| No HS Diploma | 20 (1.2%) |
| HS Graduate | 526 (30.8%) |
| Some College | 243 (14.2%) |
| Associates | 357 (20.9%) |
| Bachelors | 241 (14.1%) |
| Graduate Degree | 319 (18.7%) |
Education
Housing Tenure
Home Value Distribution
Financials
| Median HH Income | $51,607 ▼ 32% below avg |
|---|---|
| Median Home Value | $79,000 ▼ 72% below avg |
| Home/Income Ratio | 1.5x (nat avg ~3.5x) |
| Median Rent | $662/mo |
| Total Housing Units | 1,405 |
| Vacant Units | 412 |
Income Distribution
How People Get to Work
Commute Time
Year Built
Wakefield is a city in Michigan, located in Gogebic County. The city spans 1 ZIP code and is home to approximately 2,305 residents. It is a mature city, with a median age of 47.2 years.
Economically, Wakefield is a working-class community. The median household income of $51,607 is below the national average. Approximately 18.0% of residents live below the poverty line. The unemployment rate is 2.4%, well below the national average.
The real estate market in Wakefield is one of the more affordable housing markets in the country. Median home values stand at $79,000, which is well below the national average. Renters typically pay around $662 per month. Homeownership is high at 85.9%, typical of suburban and family-oriented communities.
The population of Wakefield is moderately educated. 32.8% of adults hold a bachelor's degree or higher — below the national average. The community is primarily White (94.75%).
Wakefield, MI offers residents a cost-conscious lifestyle within Michigan.
| ZIP | Population | Median Income | Median Home | Median Rent | Unemp. | College | Owner Occ. |
|---|---|---|---|---|---|---|---|
| 49968 | 2,305 | $51,607 | $79,000 | $662 | 2.4% | 32.8% | 85.9% |