Wakefield, Michigan Demographics & Population 2026
During the 2020–2024 ACS period, Wakefield, Michigan had a total population of 1,683, the 337th largest city in Michigan, with a median household income of $55,759, which is 23% lower than the state average. The poverty rate is 15.0%.
Data vintage: U.S. Census Bureau ACS 2020–2024 5-Year Estimates · refreshed July 2026 · Methodology & source notes
Key Takeaways
- Housing is very affordable with a home-value-to-income ratio of just 1.4x.
Wakefield Quick Facts
How Wakefield Changed
Change from the 2019–2023 ACS period to 2020–2024. These are rolling five-year estimates, not year-over-year measurements.
| Metric | 2019–2023 | 2020–2024 | Change |
|---|---|---|---|
| Population | 1,789 | 1,683 | -5.9% |
| Median household income | $48,413 | $55,759 | +15.2% |
| Median home value | $71,400 | $79,100 | +10.8% |
How Wakefield Compares
Median Household Income
Median Home Value
Economy & Housing
Household Income Distribution
Detailed income brackets
Employment
Housing Overview
People & Demographics
Age Distribution
Race & Ethnicity
Diversity Index
A less diverse community where one racial or ethnic group represents a large majority.
State average: 45 | National average: 61
Education
Educational Attainment (Adults 25+)
Wakefield Rankings in Michigan
Explore Michigan Rankings
Other Cities in Gogebic County
| City | Population | Median Income | Poverty | Home Value |
|---|---|---|---|---|
| Ironwood | 4,997 | $41,250 | 17.0% | $83,100 |
| Bessemer | 1,733 | $53,523 | 12.9% | $69,900 |
| Ramsay | 312 | $54,643 | 19.9% | $67,700 |
| Watersmeet | 250 | $63,452 | 0.0% | $67,200 |
| Marenisco | 223 | $39,375 | 17.0% | $47,500 |
Cities Similar to Wakefield
These cities in the same state have comparable population and economic profiles.
| City | Population | Median Income | Home Value | Bachelor's+ | Poverty |
|---|---|---|---|---|---|
| Howard City | 1,636 | $54,688 | $151,200 | 7.1% | 23.9% |
| Bessemer | 1,733 | $53,523 | $69,900 | 22.8% | 12.9% |
| Homer | 1,610 | $54,737 | $136,200 | 11.3% | 18.7% |
| Zilwaukee | 1,609 | $57,756 | $95,300 | 17.0% | 15.2% |
| Crystal Falls | 1,719 | $60,865 | $83,300 | 16.3% | 20.9% |
Population Overview
Wakefield is a small community located in Michigan, within Gogebic County. The total population is 1,683. It ranks as the 337th most populous out of 745 Census-designated places in Michigan.
Age Demographics
The median age in Wakefield is 52.8 years. This is 31% higher than the state median of 40.2 years. 14.8% of residents are 75 or older, suggesting a significant retirement-age population with implications for healthcare services and senior housing.
Economy, Income & Housing
The median household income in Wakefield is $55,759. This is 23% lower than the state median of $72,875. It is also 31% lower than the national median of $80,734. The poverty rate stands at 15.0%. This is 14% higher than the state poverty rate of 13.2%. The unemployment rate is 4.1%. This is 28% lower than the state rate of 5.7%. The median home value is $79,100. Housing costs are 66% lower than the state median of $231,600. With a home-value-to-income ratio of just 1.4x, Wakefield is one of the most affordable housing markets in the area. 82.0% of occupied housing units are owner-occupied. This homeownership rate is 12% higher than the state average of 73.2%.
Race & Ethnicity
Wakefield has a predominantly White (non-Hispanic) population, comprising 93.7% of all residents. Asian residents account for 0.9%. The Hispanic or Latino population (0.4%) is well below the state average of 5.9%. The Asian population (0.9%) is well below the state average of 3.4%.
Education
13.4% of residents aged 25 and older hold a bachelor's degree or higher. This is 59% lower than the state rate of 32.5%. Nationally, 35.7% of adults hold at least a bachelor's degree. The high school graduation rate (or equivalent) is 98.6%.
Data Sources & Methodology
All demographic data for Wakefield, Michigan is sourced from the U.S. Census Bureau's American Community Survey (ACS) 2020–2024 5-Year Estimates. The ACS collects data from approximately 3.5 million households annually and pools five years of responses so that even small communities can be measured, though the margin of error widens as the population falls. Comparisons are made against Michigan state averages and national averages calculated from the same dataset. Rankings reflect the city's position among all 745 Census-designated places in Michigan. Read more about how these figures are produced on our methodology page, or visit data.census.gov for official data.
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Frequently Asked Questions
What is the population of Wakefield, Michigan?
Wakefield, Michigan has a population of 1,683 according to the most recent U.S. Census ACS 5-Year Estimates.
What is the median household income in Wakefield, MI?
The median household income in Wakefield is $55,759, which is 31% lower than the national median of $80,734.
What is the poverty rate in Wakefield, MI?
The poverty rate in Wakefield is 15.0%. This means approximately 235 residents live below the federal poverty line.
What is the racial makeup of Wakefield, Michigan?
Wakefield's population is 93.7% White, 0.0% Black, 0.4% Hispanic/Latino, and 0.9% Asian.
What is the median home value in Wakefield, MI?
The median home value in Wakefield is $79,100. The home-value-to-income ratio is 1.4x.
How educated is Wakefield, Michigan?
13.4% of adults (25+) in Wakefield hold a bachelor's degree or higher, and 3.2% hold a graduate or professional degree.