The average annual household income in Michigan is $85,727, while the median household income sits at $63,202 per year. Residents aged 25 to 44 earn $70,251, while those between 45 and 64 years old have a median wage of $76,804. In contrast, people younger than 25 and those older than 65 earn less, at $35,152 and $48,046, respectively.