The population of Yale City is estimated to be 1,861 as of the 2020 census. This small city was incorporated over seventeen1 years ago and is the 260th largest in the state of Michigan. The population of Yale is declining at a rate of -0.32% per year. Since the 2010 census, its population has decreased by -5.27%. The city spans over a square mile, and has a density of 1,349 people per square mile.
According to the Census Bureau, the median gross rent in Yale is $601 per month. The rent burden is a measure of the percentage of a household's income that goes toward paying rent. This number is important for estimating whether housing is affordable in the city. While the rent burden in Yale is low, its neighboring cities tend to have higher rent burdens. For example, in neighboring Capac and New Haven, the rent burden is higher than in Yale.
This deal is a win-win situation for everyone involved. Yale will continue paying its taxes until it reaches $42.3 billion in the year 2021, thanks to an investment return of 40.2%. In return, the city will receive an additional $10 million per year. The university has committed to make additional payments to compensate the city for the lost tax revenue that was due to the purchase of the property. In addition to this, it will cover 100% of the lost taxes for three years and will reduce its endowment value by 10 percent every year.