Lake County, Michigan: commercial real estate data.
Lake County, Michigan had an estimated 13,005 residents on July 1, 2024, up 7.5 percent since the 2020 census base of 12,101, across 567 square miles. County output reached $288.9 m in 2024, 176 establishments operate here, and the SBA record carries 5 7(a) approvals worth $2.0 m since FY2020.
Underlined figures are computed by MMCG Analytics, not published by the agency.
Lake County
How many people live in Lake County
- Population, American Community Survey 2020-202412,563
- Households5,190
- Average household size2.42
- Median household income$50,805
- Median age50.5
- Median gross rent$875 per month
- Median owner-occupied home value$133,900
- Home value to household income2.6 times
- Annual rent as a share of median income20.7 percent
- Adults 25 and over with a bachelor degree or higher12.7 percent
- Adults 25 and over with a graduate degree3.6 percent
- Adults 25 and over9,685
- Population under 181,857
- Share under 1814.8 percent
- Population 65 and over3,423
- Share 65 and over27.2 percent
- Working age population, 18 to 647,283
- Civilian labor force4,887
- Unemployment rate7.4 percent
- Labor force participation, adults 18 and over45.6 percent
- Rank by population among Michigan counties72nd of 83
- Rank by population among US county-equivalents, Puerto Rico included2316th of 3,222
Lake County is the 72nd largest of 83 Michigan counties by population. A median home costs 2.6 times median household income, which is affordable by national standards. Residents 65 and over outnumber those under 18, at 27.2 percent against 14.8 percent, which points demand at health care, services and single story product rather than schools.
US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Lake County
Is Lake County's population growing?
- Population, July 1, 202413,005
- Census 2020 base population12,101
- Population change since the 2020 census base7.47 percent
- Population change, 2023 to 2024239
- Births, 202485
- Deaths, 2024191
- Natural change, 2024-106
- Net domestic migration, 2024340
- Net international migration, 20247
- Total net migration, 2024347
- Cumulative net domestic migration, 2021 to 20241,283
- Rank by growth among US county-equivalents278th of 3,144
The county has grown 7.47 percent since the 2020 census base. Deaths exceeded births in 2024 and the population still grew, so all of the growth came from people moving in. A market held up by migration is more sensitive to a change in relative cost than one growing from household formation.
US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
Lake County
Where are people moving to Lake County from?
- Tax returns filed by households arriving526
- People arriving, from those returns932
- Tax returns filed by households leaving379
- Net household movement147
- Adjusted gross income arriving$36.4 m
- Net adjusted gross income movement$19.8 m
- Average income of an arriving household$69,173
- Average income of a leaving household$43,797
- Largest single originKent County (58 households)
- Largest single destinationMecosta County (38 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Kent County | 58 | 119 | $3.5 m |
| Osceola County | 39 | 73 | $1.7 m |
| Newaygo County | 29 | 46 | $1.2 m |
| Mason County | 27 | 49 | $1.1 m |
| Mecosta County | 26 | 41 | $921,000 |
| Ottawa County | 26 | 51 | $2.5 m |
| Muskegon County | 25 | 45 | $867,000 |
| Wayne County | 21 | 43 | $1.2 m |
Households arriving report $25,376 more average income than households leaving, so the migration is raising local spending power rather than just moving it around. The largest single source of arrivals is Kent County, which is the catchment a retail or multifamily study should look at first.
US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Lake County
What is the Lake County economy?
- County GDP, 2024$288.9 m
- County GDP, 2023$286.6 m
- GDP change, 2023 to 20240.8 percent
- GDP change over five years13.5 percent
- Rank by GDP among the Michigan areas BEA publishes78th of 83
- Rank by GDP among the US county areas BEA publishes2723rd of 3,127
- GDP per resident$22,998
Output grew 0.8 percent in the latest year and 13.5 percent over five, which is the trend line a lender will read behind any single year figure.
US Bureau of Economic Analysis, Regional, table CAGDP2, CAGDP2, through 2024.
Lake County
Employment by industry in Lake County
- Covered employment, annual average1,721
- Establishments reporting186
- Average annual pay$39,827
- Average weekly wage$766
- Retail trade, employment193
- Retail trade, average annual pay$32,244
- Construction, employment78
- Construction, average annual pay$46,856
- Manufacturing, employment63
- Manufacturing, average annual pay$44,187
- Other services, except public administration, employment51
- Other services, except public administration, average annual pay$30,490
- Agriculture, forestry, fishing and hunting, employment45
- Professional, scientific and technical services, employment32
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Retail trade | 193 | 30 | $32,244 |
| Construction | 78 | 23 | $46,856 |
| Manufacturing | 63 | 6 | $44,187 |
| Other services, except public administration | 51 | 18 | $30,490 |
| Agriculture, forestry, fishing and hunting | 45 | 7 | $41,574 |
| Professional, scientific and technical services | 32 | 6 | $36,980 |
| Unclassified establishments | 5 | 2 | $81,116 |
Retail trade is the largest private sector at 193 jobs, 11.2 percent of covered employment.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
Lake County
How many businesses are in Lake County?
- Establishments, all industries176
- Employment at those establishments1,192
- Annual payroll$43.5 m
- Establishments per 1,000 residents14.0
These are counts of establishments physically operating in the county, not listings, so they are the supply side a feasibility study measures demand against. County Business Patterns counts private establishments with paid employees in March 2023, while the Quarterly Census of Employment and Wages above counts every unemployment-insured employer, public ones included, as a 2024 annual average, so the two establishment and employment counts differ.
US Census Bureau, County Business Patterns, 2023.
Lake County
Building permits in Lake County
- Housing units authorized by permit, 202430
- Declared construction value permitted$7.2 m
- Single family units authorized30
- Multifamily units authorized0
- Multifamily share of units0.0 percent
- Average declared value per unit$240,981
- Units authorized per 1,000 households5.8
Single-family homes are 100.0 percent of units authorized, so the pipeline is predominantly single-family.
US Census Bureau, Building Permits Survey, 2024 annual.
Lake County
SBA loans in Lake County (7(a) and 504)
- 7(a) approvals recorded5
- 7(a) gross approval dollars$2.0 m
- Average 7(a) approval$404,300
- Median 7(a) approval$60,000
- Largest single approval$1,063,500
- Jobs reported supported, 7(a)16
- Jobs per approval3.2
- Distinct 7(a) lenders active4
- Distinct industries receiving approvals5
- Median 7(a) term120 months
- Share of loans on real estate terms, 240 months or longer40.0 percent
- Loans on real estate terms2
- Loans on working capital terms, 120 months or shorter3
- Franchise loans0
- Franchise share of approvals0.0 percent
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Lake County
SBA loan default and charge-off rates in Lake County
Do SBA loans in Lake County get paid back?
- Loans with a final outcome recorded2
- Paid in full2
- Charged off0
- Status: Paid in full2
- Status: Exempt from disclosure3
Only 2 loans have reached a final outcome, fewer than the 30 a charge-off rate needs, so no rate is published.
Compare against the national and state SBA charge-off rates, computed the same way over resolved loans only.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Lake County
SBA lending by place in Lake County
- Borrower cities with recorded lending4
- Irons, approvals2
- Luther, approvals1
- Baldwin, approvals1
- Reed City, approvals1
| Borrower city | Approvals | Gross approval dollars |
|---|---|---|
| Irons | 2 | $98,000 |
| Luther | 1 | $1,063,500 |
| Baldwin | 1 | $800,000 |
| Reed City | 1 | $60,000 |
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Lake County
How large is Lake County?
- Land area567 sq mi
- Rank by land area among Michigan counties43rd of 83
- Width, east to west23.8 mi
- Height, north to south24.3 mi
- Geographies sharing a boundary5
- Residents per square mile of land22
- Establishments per square mile0.31
US Census Bureau county boundary geometry, TIGER, adjacency computed from shared boundary vertices, TIGER county boundaries. US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year. US Census Bureau, County Business Patterns, 2023.
Lake County
Flood risk in Lake County
- Communities in the county in the NFIP Community Status Book5
- Of those, participating in the NFIP5
- NFIP participation rate100.0 percent
- Communities carrying a CRS class0
- Radon levels in Lake County, EPA zone predicted average indoor radon screening level less than 2 pCi/LZone 3
The EPA places Lake County in radon zone 3, a predicted average indoor radon screening level less than 2 pCi/L. The zone is a screening prediction for the county and does not substitute for a test at an address. 100.0 percent of the county's listed communities participate in the National Flood Insurance Program, per Federal Emergency Management Agency, NFIP Community Status Book (OpenFEMA), as of 2026-09-26.
Federal Emergency Management Agency, NFIP Community Status Book (OpenFEMA), as of 2026-09-26. US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Coverage
What this page does not hold.
Traffic counts, zoning and the flood zone at an address are not on this page; they resolve at the address in the platform. How this page was built →
Feasibility studies
When a Lake County site needs a document a lender will accept.
The same data layer behind this page is the one the studies are written from. A study for a Lake County site starts with the figures you are reading, carrying the same source and period into the credit file.
- Population, American Community Survey 2020-202412,563
- Households5,190
- Average household size2.42
- Median household income$50,805
- Median age50.5
Common questions
Lake County questions, answered from the record.
How many people live in Lake County, Michigan?
The Census Bureau estimates 13,005 residents on July 1, 2024 (US Census Bureau, Population Estimates Program, Vintage 2024). The American Community Survey 2020-2024 five-year estimate is 12,563, in 5,190 households, ranking 72nd of 83 Michigan counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is Lake County's population growing?
The population has grown 7.47 percent since the 2020 census base of 12,101, to 13,005 on July 1, 2024. In 2024 there were 85 births against 191 deaths, with net migration of 347. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Lake County?
$50,805. The median owner-occupied home is valued at $133,900, which is 2.6 times income, and median gross rent is $875 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are in Lake County?
176 establishments, employing 1,192 people with an annual payroll of $43.5 m. These are establishments physically operating in the county, not listings. Source: US Census Bureau, County Business Patterns, 2023.
What is employment by industry in Lake County?
Retail trade is the largest private sector at 193 jobs, 11.2 percent of covered employment. Covered employment averages 1,721 jobs at an average annual pay of $39,827, or $766 a week. Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
How much SBA lending happens in Lake County?
5 7(a) approvals totaling $2.0 m since FY2020, across 4 lenders, with a median approval of $60,000. These are approvals recorded in the release, not loans disbursed.
How many building permits were issued in Lake County?
30 housing units were authorized by permit in 2024, with a declared construction value of $7.2 m. Multifamily was 0.0 percent of units. Source: US Census Bureau, Building Permits Survey, 2024 annual.
What is the radon zone for Lake County?
Zone 3, a predicted average indoor radon screening level less than 2 pCi/L. Source: US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Where do people moving to Lake County come from?
The largest single origin is Kent County, with 58 households. Arriving households report an average income of $69,173 against $43,797 for those leaving. Source: US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Are traffic counts available for Lake County on this page?
No. Annual average daily traffic resolves in the platform rather than in this dataset, so no AADT figure is printed here. It is a gap we know about rather than a figure we estimated.
Is zoning published for Lake County?
No. Nothing on this page presents parcel level zoning, and where a statutory framework applies it is marked as the statewide frame, to be confirmed locally.
Lake County
Cities and places in Lake.
2 Census places lie wholly or partly in Lake County. All 2 carry enough published place level data for a page of their own and are linked.
| Place | Type | Population | SBA 7(a) approvals, projects in this county | Lies in |
|---|---|---|---|---|
| Baldwin | village | 1,261 | 1 | Wholly in this county |
| Luther | village | 303 | 1 | Wholly in this county |
A further 3 of the county's 5 SBA 7(a) approvals are to borrowers in cities that match no Census place in Lake County, the largest being Irons (2), Reed City (1). Those are postal cities, unincorporated areas and cities outside the county, so no place row claims them; they are counted in the county total above.
Nearby