Everything You Should Know Before Moving to Dollar Bay, MI
Considering a move to Dollar Bay, MI? With a close-knit population of around 1,000, this lakeside town offers affordable living, with median home prices near $110,000 and average rents around $700. Residents enjoy quiet, low-crime neighborhoods, short 17-minute commutes, and scenic Upper Peninsula seasons. While winters are snowy and brisk, you’ll find strong community schools, access to nearby healthcare, and outdoor adventure in every direction. If you're seeking small-town charm and natural beauty, Dollar Bay is a welcoming choice.
Demographics - Dollar Bay, MI
Demographics - Dollar Bay, MI
Dollar Bay is a small, close-knit community of about 1,000 residents with a median age of 44, reflecting a mature population. The town is predominantly White, with over 95% of the population, and features a balanced gender ratio. The area is known for its low population density and a strong sense of local identity.
Population:
1,000
Density:
390 per sq mi
Median Age:
44.3
Gender Ratio:
98 males per 100 females
Non-English Speakers Percentage:
1.5%
Ethnic Composition
White:
95.1%
Black:
0.4%
Asian:
0.8%
Others:
3.7%
Cost Of Living
What is the average cost of living in Dollar Bay, MI?
Living in Dollar Bay is highly affordable, with a median home value around $110,000 and average rents near $700 per month. The overall cost of living index is well below the national average, making it an attractive option for those seeking budget-friendly housing and everyday expenses. Utilities and transportation costs are moderate, contributing to the town’s economic appeal.
Median House Value:
$110,000
Gross Rent:
$700
Monthly Electricity Charges:
$110
Auto Insurance:
$1,275
House Owner Cost With Mortgage:
$950
House Owner Cost Without Mortgage:
$350
State Taxes:
Low:
4.25%
|
High:
4.25%
Cost Of Living Index:
80.5
Grocery:
91.0
Housing:
60.0
Utilities:
95.0
Transportation:
85.0
Health Care:
94.0
Miscellaneous:
82.0
Crime
Is Dollar Bay, MI a safe place to live?
Dollar Bay boasts a low crime rate, with violent crimes significantly below national averages and property crimes remaining uncommon. Residents enjoy a sense of safety, with the risk of violent crime at just 1 in 680. The town's peaceful atmosphere is a draw for families and retirees alike.
Violent Crimes Per 100k:
147
Property Crimes Per 100k:
1,018
Crime Index:
1,165
Chance Of Violent Crime:
1 in 680
Chance Of Property Crime:
1 in 98
Weather
What is the weather like in Dollar Bay, MI year-round?
Residents experience all four seasons, with snowy, cold winters where temperatures range from 7°F to 24°F, and pleasantly mild summers with highs around 76°F. The area receives about 32.5 inches of rainfall annually and enjoys sunshine around 46% of the year. These conditions make Dollar Bay ideal for those who appreciate distinct seasonal changes and outdoor activities.
Winter
Min:
7°F
Max:
24°F
Spring
Min:
32°F
Max:
57°F
Summer
Min:
54°F
Max:
76°F
Fall
Min:
32°F
Max:
56°F
Average Rainfall Inches:
32.5 inches
Sunny Days Percentage:
46%
Neighbors
Dollar Bay is characterized by modest household incomes, with a median of $46,500, and a poverty rate slightly above the national average. Most residents commute less than 17 minutes to work, and public transportation use is minimal, reflecting the town's small size and community-oriented lifestyle. Educational attainment is solid, with over 90% holding a high school diploma.
Median Income:
$28,000
Household Income:
$46,500
Family Income:
$56,000
Per Capita Income:
$23,100
Income Male:
$35,000
Income Female:
$29,000
Poverty Rate:
13.5%
Non English Speakers:
1.5%
Rent:
$700
Unemployment Rate:
6.7%
Public Transport Usage:
0.4%
Commute Time:
16.7 minutes
Education
High School or Higher:
91.4%
Bachelors or More:
20.2%
Education
How are the schools in Dollar Bay, MI?
Education in Dollar Bay is anchored by the Dollar Bay-Tamarack City Area Schools, which serves around 315 students with a favorable student-teacher ratio. While there are no private schools in town, families benefit from proximity to Michigan Technological University just five miles away. This creates opportunities for both quality K-12 education and higher learning within a short distance.
Public Schools
Name:
Dollar Bay-Tamarack City Area Schools
Street:
48475 Maple Dr
Phone:
906-482-5800
Students:
315
Student Teacher Ratio:
13.5
Colleges
Name:
Michigan Technological University
City:
Houghton
State:
MI
Distance:
5 miles
Students:
7,000
Healthcare
Local healthcare needs are well-served by nearby hospitals such as Aspirus Keweenaw Hospital and UP Health System - Portage, both offering comprehensive services and emergency care. With 1.3 physicians per 1,000 residents and nearly 94% health insurance coverage, residents have good access to medical support. The area’s healthcare index indicates reliable and affordable services for families and individuals.
Major Hospitals
Name:
Aspirus Keweenaw Hospital
Address:
205 Osceola St, Laurium, MI 49913
Phone:
(906) 337-6500
Type:
General & Surgical
Emergency Services:
Yes
Name:
UP Health System - Portage
Address:
500 Campus Dr, Hancock, MI 49930
Phone:
(906) 483-1000
Type:
General & Surgical
Emergency Services:
Yes
Physicians Per 1000:
1.3
Health Insurance Coverage:
93.9%
Health Care Index:
71.0
Housing Market
What is the housing market like in Dollar Bay, MI?
Dollar Bay’s housing market is accessible, with a median home price of $110,000 and high owner-occupancy rates above 80%. Rental properties are available, with average two-bedroom rents at $700 and a modest vacancy rate. The community enjoys steady home appreciation, making it a practical choice for both buyers and renters.
Median Home Price:
$110,000
Average Rent For 2 Bedroom:
$700
Owner Occupied Rate:
82.5%
Rental Vacancy Rate:
8.0%
Home Appreciation Rate (1yr):
3.2%
New Construction Rate:
0.7%
Foreclosure Rate:
0.3%
DMV Information
Vehicle and licensing services are provided by the Michigan Secretary of State office in nearby Houghton, offering convenient access for Dollar Bay residents. The local DMV handles registrations, licenses, and other essential driving services. Residents can find more information and online services through the official Michigan Secretary of State website.
State:
Michigan
Department:
Michigan Secretary of State
Address:
701 Sharon Ave, Houghton, MI 49931
Phone:
1-888-767-6424
Website:
Disclaimer: The information provided on this page is based on publicly available sources including AccuWeather, U.S. Census Bureau, local government data, and third-party partners such as Neustar. While we strive to ensure accuracy, all data is provided “as is” and should be independently verified before making any decisions. Movers.com makes no guarantees regarding the completeness or reliability of the information.