Wakefield, MI
Full City Profile · Michigan · Gogebic County County
Wakefield, MI
At a Glance
How Wakefield Compares to the U.S. Average
Each bar shows Wakefield's value as a percentage of the national average (100% = U.S. avg)
Is Wakefield a Good Place to Live?
Economy & Jobs
Wakefield residents earn a median household income of $48,413 , which is 36% below the national average of $75,149. Per capita income is $28,602. The unemployment rate stands at 2.8% (22% below the U.S. rate of 3.6%). 17.4% of residents live below the poverty line. The area is home to 420 business establishments, including 51 restaurants.
Housing & Cost of Living
The median home value in Wakefield is $71,400 , 75% below the national median of $281,900. Zillow estimates the typical home at $114,469. Median rent is $662/month, with 51.0% of renters spending more than 30% of income on housing. The cost of living index is 96.2 (100 = national average). The median home was built in 1944.
Education
15.2% of adults in Wakefield hold a bachelor's degree or higher (55% below the national average). 97.9% have completed high school. Local schools score 5.1/10 in standardized testing.
Climate & Weather
Wakefield has an average annual temperature of 40°F (5°C). Winters average 11°F in January while summers reach 66°F in July. Annual precipitation totals 37.4 inches.