Quick facts: Hemlock, MI

Quick Facts

94.9
Cost of Living
below US average
1,226
Population
18.76
Crime Rate per 1000
below US average
$58,787
Median Income
below US average
$214,000
Median House Price
above US average
$925.0
Average Rent
below US average
12%
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 $58,787.

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Income Needed to Buy

βœ— Stretch
$67k/year
Based on $214,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $67k vs median $58,787
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Income Needed to Rent

βœ“ Affordable
$40k/year
Based on $925.0/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($58,787) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Hemlock, MI

Hemlock, Michigan, is a small village located in Saginaw County, nestled in the heart of the Great Lakes region. With a population of around 1,400 residents, Hemlock embodies a quaint, tight-knit community atmosphere. The village is part of the larger Saginaw-Midland metropolitan area, providing easy access to urban amenities while maintaining a rural charm. Hemlock is known for its beautiful landscapes, featuring farmland and natural surroundings perfect for outdoor activities such as hiking, fishing, and birdwatching. The village hosts several parks, providing recreational opportunities for families and individuals alike. The community is served by the Hemlock Public School District, known for its commitment to education. The local economy is supported by agriculture, small businesses, and larger industries in nearby cities. Hemlock also boasts a rich history, with various local events and festivals celebrating its heritage. Overall, Hemlock offers a peaceful lifestyle with a close community feel, making it an appealing place for those seeking tranquility away from the hustle of larger cities.

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