Balsam, MI
Comprehensive Demographic, Economic, and Housing Data Profile
Living in Balsam, MI: Quick Facts & Overview
- Population: 4,380 residents (4 people per sq. mi.)
- Average House Price: $134,105
- Average Household Income: $63,605
Balsam, MI is located in the state of Michigan. It is home to about 4,380 people, with around 4 residents living in every square mile.
If you want to buy a house in Balsam, the average price is around $134,105. That makes local housing 40% lower than the Michigan average of $221,733, and 57% lower than the national average of $308,592.
The average household in Balsam earns about $63,605 a year. This income is 13% lower than the average family in Michigan ($73,374), and 19% lower than the national average ($78,686).
Population
4,380
Median Household Income
$63,605
Median Home Value
$134,105
Median Age
56.3 yrs
Household Income Brackets
Racial & Ethnic Demographics
Age Distribution
Educational Attainment
Economic & Labor Indicators
| Individual Median Income | $34,440 |
| Labor Force Participation | 45.5% |
| Unemployment Rate | 6.7% |
| Average Commute Time | 22.4 mins |
Housing & Community Metrics
| Home Ownership Rate | 88.6% |
| Median Rent | $918 |
| Rent Burdened (>30% Income) | 26.4% |
| Total Housing Units | 2,096 |
Additional Census & Housing Profile
Geographic Overview
| County | Iron |
| County FIPS | 26071 |
| Metro Area (CBSA) | - |
| Population Density | 3.8/sq mi |
| Coordinates (lat/lng) | 46.2077, -88.3810 |
| Timezone | America/Menominee |
| National Ranking | 5 |
| Incorporated | No |
Household Structure
| Average Family Size | 2.53 |
| Dual Income Families | 35.1% |
Marital Status
| Married | 52.1% |
| Never Married | 23.5% |
| Divorced | 12.6% |
| Widowed | 11.8% |
Gender
| Male | 52.0% |
| Female | 48.0% |
Health & Poverty
| Uninsured Rate (Health) | 3.7% |
| Poverty Rate | 15.0% |
Key Population Groups
| Veterans | 12.5% |
| Disabled Population | 25.5% |
| Limited English Proficiency | - |
All ZIP Codes in Balsam
| ZIP Code | Population | Median Household Income | Median Home Value |
|---|---|---|---|
| 49920 | 4,380 | $63,605 | $134,105 |
Nearby Cities
| City | Distance | Population |
|---|---|---|
| Amasa, MI | 4 miles | 253 |
| Crystal Falls, MI | 8.1 miles | 1,719 |
| Alpha, MI | 11.3 miles | 215 |
| Iron River, MI | 14.6 miles | 3,002 |
| Gaastra, MI | 15 miles | 296 |
| Caspian, MI | 15.3 miles | 600 |
| Florence, WI | 20.5 miles | 488 |
| Republic, MI | 23.1 miles | 519 |
| Covington, MI | 24.3 miles | 112 |
| Three Lakes, MI | 24.7 miles | 172 |
| Michigamme, MI | 27.1 miles | 229 |
| Iron Mountain, MI | 30.5 miles | 7,518 |
| Kingsford, MI | 30.9 miles | 5,124 |
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| Niagara, WI | 34.8 miles | 1,464 |
| Norway, MI | 36 miles | 2,833 |
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| Watersmeet, MI | 39.2 miles | 250 |
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| Zeba, MI | 40.5 miles | 342 |
| Palmer, MI | 41.5 miles | 309 |
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| Bruce Crossing, MI | 44.4 miles | 257 |
| Gwinn, MI | 45.2 miles | 1,435 |
| Eagle River, WI | 46.3 miles | 1,528 |
| Laona, WI | 46.9 miles | 631 |
| Three Lakes, WI | 47 miles | 410 |
| Skanee, MI | 47.1 miles | 116 |
| Ewen, MI | 48.6 miles | 281 |
| K. I. Sawyer, MI | 49.1 miles | 2,817 |
| Hermansville, MI | 50.6 miles | 666 |
| Crandon, WI | 50.7 miles | 1,365 |
| Trowbridge Park, MI | 50.8 miles | 2,396 |
| Mass City, MI | 50.9 miles | 299 |