Quick facts: Coleman, MI

Quick Facts

94.9
Cost of Living
below US average
1,264
Population
11.87
Crime Rate per 1000
below US average
$37,292
Median Income
below US average
$167,900
Median House Price
above US average
$1435
Average Rent
above US average
14%
Poverty Rate
above US average
3.2%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $37,292.

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Income Needed to Buy

βœ— Stretch
$53k/year
Based on $167,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $53k vs median $37,292
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Income Needed to Rent

⚠ Stretch
$61k/year
Based on $1435/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $61k vs median $37,292
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Coleman, MI

Coleman is a small city located in Midland County, Michigan. It is situated approximately 10 miles southwest of the city of Midland and is part of the larger Mid-Michigan region. Coleman boasts a tight-knit community with a population of around 1,200 residents. The city is primarily residential, offering a tranquil lifestyle surrounded by natural beauty, including lush forests and nearby rivers. The city's main attractions include local parks and recreational areas, providing opportunities for outdoor activities such as hiking, fishing, and picnicking. Coleman is also known for its rich agricultural background, with nearby farms contributing to the local economy. Coleman is served by the Coleman Community School District, which includes elementary, middle, and high schools focused on providing quality education. The city holds community events throughout the year, fostering connections among residents and promoting local culture. Overall, Coleman, MI, offers a peaceful rural environment, making it an appealing destination for those seeking a slower pace of life while still having access to nearby urban amenities.

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