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MI area data

Wakefield, MI

Wakefield, MI.

Population: 2,203 (Census ACS)

Home values & appreciation

Median home value
$112,340
1-year appreciation
+10.9%
3-year appreciation
+33.8%
5-year appreciation
+37.7%
All-time peak (2026-07)
$112,340
House Price Index
387.5 (+5.5% YoY)

Market activity

New listings (monthly)
3

Affordability

Cost of living index (Below Average)
92.0 (100 = US avg)
Electricity rate (state-level)
20.0¢/kWh
Natural gas rate (state-level)
$10.90/MCF
30-year mortgage rate (national)
6.66%
15-year mortgage rate (national)
6.00%

Schools

Total schools
1
Elementary schools
0
Middle schools
0
High schools
0

Natural hazards & flood risk

Overall hazard risk
Very Low
Top hazards
lightning, coldWave, winterWeather

Climate (30-year normals)

Average annual temperature
40.0°F
Average high
50.0°F
Average low
31.0°F
Annual precipitation
38.2 in

Amenities

National parks within ~60 mi
2
Nearest national park
North Country National Scenic Trail (46 mi)
Nearest airport
Gogebic Iron County Airport (IWD) (12 mi)
Hospitals nearby (~15 mi)
1,090
Avg hospital rating
3.1 / 5
Solar radiation rating
Fair (3.7 kWh/m²/day)

Migration

Net migration
+82 tax filers

Housing stock

Median year housing built
1,952
Median annual property tax
$1,304
Mean commute to work
23 min
Households with broadband internet
68.9%

Employment & development

Total county employment
3,596
Average weekly wage
$878
Top industries (by employment)
Accommodation & Food, Other Services, Construction
Annual residential building permits (county)
24

Area data compiled from public government, academic, and industry research feeds. Data sources →

Data last updated

Most recent source refresh: Aug 2026. See all data sources →

Data compiled by REAIGENT7 — AI listing platform for real estate agents