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The total population of Lake township is estimated to be 753 with 380 males (50.46%) and 373 females (49.54%). There are 7 less females than males in Lake township.
The median household income in Lake township was $86,924 in 2021, which marked an an increase of 4,872(5.94%) from $82,052 in 2020. This income is 116.51% of the U.S. median household income of $74,606 (all incomes in 2022 inflation-adjusted dollars).
Per the latest American Community Survey by the Census Bureau, Lake township sees its highest median household income among householders in the age group of 25 to 44 years old, at $128,358. Overall, the median household income for the township of Lake township stands at $86,924.
In Lake township, the median income for all workers aged 15 years and older, regardless of work hours, was $59,034 for males and $29,185 for females. However, when specifically considering full-time, year-round workers within the same age group, the median income was $68,740 for males and $60,501 for females.
In Lake township, population is primarily represented by White households, reporting a median income of $86,924.
In 2022, the population of Lake township was 704, a 0.14% increase year-by-year from 2021. Previously, in 2021, Lake township's population was 703, an increase of 1.44% compared to a population of 693 in 2020.
The median age in Lake township, Benzie County, Michigan is 64.8, as per 2021 ACS 5-Year Estimates. Of the total population, 2.86% were under the age of 15, 8.35% aged 15 to 29, 39.38% aged 30 to 64, 44.27% aged 65 to 84, and 5.13% were 85 years of age and older.
Racial distribution of Lake township population: 98.81% are White, 0.72% are American Indian and Alaska Native and 0.48% are multiracial.