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As of the census of 2000, there are 587 people, 241 households, and 148 families residing in the village. The population density is 204.2/km² (530.6/mi²). There are 269 housing units at an average density of 93.6/km² (243.2/mi²). The racial makeup of the village is 97.79% White, 0.17% African American, 1.70% Native American, 0.00% Asian, 0.00% Pacific Islander, 0.00% from other races, and 0.34% from two or more races. 0.00% of the population are Hispanic or Latino of any race.
There are 241 households out of which 29.0% have children under the age of 18 living with them, 46.5% are married couples living together, 10.0% have a female householder with no husband present, and 38.2% are non-families. 33.6% of all households are made up of individuals and 14.9% have someone living alone who is 65 years of age or older. The average household size is 2.44 and the average family size is 3.09.
In the village the population is spread out with 25.7% under the age of 18, 10.6% from 18 to 24, 28.8% from 25 to 44, 20.1% from 45 to 64, and 14.8% who are 65 years of age or older. The median age is 36 years. For every 100 females there are 98.3 males. For every 100 females age 18 and over, there are 96.4 males.
The median income for a household in the village is $27,969, and the median income for a family is $37,857. Males have a median income of $25,000 versus $19,875 for females. The per capita income for the village is $11,973. 6.8% of the population and 0.0% of families are below the poverty line. Out of the total people living in poverty, 0.0% are under the age of 18 and 8.9% are 65 or older.
The Vanderbilt family had some land in Corwith Township, Michigan which was settled about 1875. When the Michigan Central Railroad (also owned by the Vanderbilts) came through in 1880, the village of Vanderbilt was set up there. It was formally incorporated as a village in 1901.