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Elk Rapids, MI
Full City Profile · Michigan · Grand Traverse County County
4.5
/5.0
A+
Excellent
1,558
Population
944/sq mi density
$78,472
Median Income
$47,905 per capita
$348,400
Home Value
$485,646 Zillow
$1,032
Median Rent
19.2% income on rent
43°F
Avg Temperature
270 sunny days/yr
A+
Overall
4.5 / 5.0
Strong
A+
Economy
4.6 / 5.0
$78,472 median income, 0.5% unemployment
A
Affordability
4.2 / 5.0
$348,400 home value, $1,032/mo rent
A+
Education
4.7 / 5.0
46.8% bachelor's degree or higher
Change Over Time (2013–2023)
Population Change
-0.6%
1,610 → 1,600
over 10 years
Annual Pop. Growth
-0.06%
Compound annual growth rate
Median Income Change
+88%
$41,750 → $78,472
nominal, not inflation-adjusted
Annual Income Growth
+6.51%
Compound annual growth rate
Population Over Time
Total population for Elk Rapids across each available Census ACS release.
Median Household Income Over Time
Median household income reported by U.S. Census ACS. Values are nominal (not adjusted for inflation).
Projected 2030
Simple projections extrapolating the 2013–2023 compound annual growth rate forward. These are mathematical extensions of recent trends, not forecasts — real outcomes depend on migration, policy and economic shifts.
Projected Population 2030
1,593
-7 from 2023 (1,600)
Projected Median Income 2030
$122,025
+$43,553 from 2023 ($78,472)
Year-by-Year Detail
| Year | Population | YoY % | Median Income | YoY % |
|---|---|---|---|---|
| 2013 | 1,610 | — | $41,750 | — |
| 2015 | 1,602 | -0.5% | $41,902 | +0.4% |
| 2017 | 1,616 | +0.9% | $49,891 | +19.1% |
| 2019 | 1,620 | +0.2% | $60,536 | +21.3% |
| 2021 | 1,557 | -3.9% | $57,452 | -5.1% |
| 2023 | 1,600 | +2.8% | $78,472 | +36.6% |
Source: U.S. Census ACS 5-Year Estimates (Data Commons). Home value and rent are not yet available historically.