Alcona County Real Estate and Livability Trends
Alcona County, Michigan's real estate market reflects notable economic growth with average taxable income per return increasing from $38,885.51 in 2013 to $58,428.41 in 2021. Median home values surged from $97,500.00 in 2015 to $148,200.00 in 2022, hinting at rising demand and narrowing the gap with national averages. A steep rise in residential energy tax credits to $681.82 in 2021 suggests... Read more
Alcona County Market Trends
Alcona County, Michigan's median home value went from $97,500.00 in 2015 to $148,200.00 in 2022, particularly jumping after 2019, hinting at a growth trend that's narrowing the gap with the national average. Residential energy tax credits also surged from $218.75 in 2013 to $681.82 in 2021, signaling increased interest in energy-efficient homes. Real estate taxes rose from $2,844.19 in 2012 to... Read more
Median Value of Occupied Housing Units in Alcona County, Michigan Over the Last 8 Years
Alcona County, Michigan has seen some interesting shifts in median home values over the last eight years. Starting at $97,500.00 in 2015, the values remained flat until a small dip in 2017 but quickly recovered, reaching $148,200.00 by 2022. This upward trend, particularly the significant jumps after 2019, is striking when compared to national and Michigan state averages. While home values in Alcona County appear lower than the national average, which hit $179,400.00 in 2022, the gap is closing. The pace of increase in Alcona County's median home value might catch the eye of investors and prospective home buyers looking for growth potential, especially considering that Michigan's median home values peaked at $201,100.00 by 2022. If this trend continues, Alcona County could become a more attractive market for those looking to capitalize on property investments.
Residential Energy Tax Credit Per Tax Return in Alcona County, MI Over the Last 8 Years
Alcona County, Michigan has seen a fluctuating but generally increasing trend in the average residential energy tax credit per tax return over the last eight years. Starting at $218.75 in 2013, the credit has seen notable rises, particularly in recent years, with a significant jump to $600.00 in 2019 and reaching $681.82 in 2021. This trend suggests a growing awareness and adoption of energy-efficient practices, which could be attractive to investors, homebuilders, and real estate agents looking to capitalize on sustainable living trends. This might also impact property appraisals and insurance considerations as energy-efficient homes typically yield higher market values.
Average Real Estate Taxes Per Tax Return in Alcona County, MI Over the Last 10 Years
Real estate taxes per tax return in Alcona County, Michigan have shown a generally upward trend over the past decade, increasing from approximately $2,844.19 in 2012 to around $4,976.92 in 2021. Notable spikes can be observed in 2018 and 2021, suggesting possible changes in property values, tax rates, or county policies. This increase in tax burden might interest potential homeowners, real estate investors, and insurance agents, as it can provide insights into the area's fiscal dynamics and impact long-term investment decisions.
Percentage of Farm Returns in Alcona County, MI Over the Last 10 Years
Farm tax returns in Alcona County, Michigan have generally declined over the last decade, with figures showing a drop from approximately 3.21% in 2012 to around 2.26% in 2021. Farm tax returns reflect the number of farm-related income tax filings compared to the total number of tax filings in the county. This trend may suggest a reduction in active farming operations or a shift in land use, which could impact decisions for those looking to invest in agriculture, move to, or build property in the area. Property investments and economic development plans should take these agricultural patterns into account, as they could influence local economic resilience and land value.
Number of Mortgages by Occupancy Type in Alcona County, MI Over the Last 5 Years in Alcona County
Over the past five years, mortgages in Alcona County, Michigan have shown shifting trends in occupancy types. Principal residences consistently dominate the market, though a notable dip occurred in 2022, from 426 to 341. Second residences saw a substantial increase from 2018 to 2020, peaking at 281 before dropping to 133 in 2022. Investment properties, while representing a smaller portion, experienced mild fluctuations, suggesting potential volatility. These fluctuations matter for investors, homeowners, and industry professionals as they reflect changing demands and economic conditions influencing property values, market stability, and risk assessments in Alcona County.
Economic Outlook
Alcona County, Michigan's real estate market shows signs of economic growth, with average taxable income per tax return rising from $38,885.51 in 2013 to $58,428.41 in 2021. The consistent increase in state and local income taxes—growing from $3,387.30 in 2012 to $7,892.31 in 2021—hints at broader economic changes or rising incomes in the area. Over the past decade, the average total tax liability per tax return also climbed from $4,919.37 in 2012 to $8,230.08 in 2021. These trends suggest... Read more
Average Taxable Income per Tax Return in Alcona County, MI over the last 9 years
Alcona County, Michigan has seen a steady rise in average taxable income per tax return over the past nine years, suggesting economic growth. From $38,885.51 in 2013 to $58,428.41 in 2021, the upward trend highlights improving financial conditions, potentially making it more appealing for investors and homebuyers. This gradual increase could also impact property valuations and insurance premiums, providing valuable insight for real estate agents, appraisers, and insurance professionals. The notable income rise points to a strengthening local economy which can foster further development and investment in the area.
Average State and Local Income Taxes Per Tax Return in Alcona County, MI Over the Last 10 Years
The average state and local income taxes per tax return in Alcona County, Michigan, have shown a consistent upward trend over the past decade. In 2012, the average was around $3,387.30, but by 2021, it had risen to approximately $7,892.31. This notable increase, potentially surpassing a 100% growth, may reflect broader economic changes or rising incomes in the area. Investors and potential residents might find this useful in understanding the local financial climate and considering its impact on living or doing business in the county.
Average Total Tax Liability Per Tax Return in Alcona County, MI Over the Last 10 Years
Over the past decade, Alcona County, Michigan has generally seen an upward trend in the average total tax liability per tax return, rising from $4,919.37 in 2012 to $8,230.08 in 2021. This increase may be indicative of rising incomes or changes in tax policy that affect individuals and families in the area. For potential investors, real estate agents, or those considering moving to Alcona County, it's worth noting that these higher tax liabilities could reflect a growing, possibly more affluent community. Appraisers and insurance agents might also view this trend as a signal of shifting economic conditions that could affect property values and insurance risks respectively.
Cost of Living in Alcona County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,086 | $1,363 | $1,678 | $1,153 | $1,076 |
| 1 adult 4 children | $1,086 | $1,113 | $1,282 | $1,153 | $1,174 |
| 2 adults 3 children | $1,086 | $1,114 | $1,457 | $1,153 | $887 |
| 1 adult 3 children | $1,086 | $909 | $1,060 | $1,153 | $958 |
| 2 adults 2 children | $826 | $912 | $1,236 | $999 | $795 |
| 1 adult 2 children | $826 | $681 | $839 | $999 | $713 |
| 2 adults 1 child | $826 | $721 | $1,014 | $499 | $730 |
| 1 adult 1 child | $826 | $465 | $618 | $499 | $603 |
| 2 adults | $717 | $579 | $793 | $0 | $646 |
| 1 adult | $588 | $316 | $397 | $0 | $510 |
Safety trends & Data
Alcona County, Michigan has seen a notable decrease in burglary incidents over the last five years, but emerging concerns such as fraud and embezzlement could be on the radar for businesses and investors. A spike in motor vehicle theft in 2022 may signal a new trend, which, along with consistent levels of vandalism and larceny-theft, could impact how residents and insurers view property protection. These shifts in crime trends might influence investment and residency decisions by highlighting... Read more
Property Crime Trends in Alcona County, MI Over the Last 5 Years
Over the last five years, Alcona County, Michigan has seen an evolving landscape of property crime. While burglary incidents have largely decreased, embezzlement and fraud appear intermittently, suggesting they might be emerging concerns for businesses and investors. Interestingly, motor vehicle theft spiked in 2022, indicating a potential new trend. Vandalism and larceny-theft have been relatively consistent, influencing both residents' and insurers' perspectives on property protection measures. These shifts in crime trends could inform potential investors and future residents about the changing security dynamics in the area, helping them make more informed decisions.
Demographics
Alcona County, located in Michigan, presents a notable demographic profile with the adult population containing slightly more males than females. The educational attainment reveals a majority holding at least a high school diploma, though a smaller segment has achieved higher education degrees like bachelor's and graduate degrees. Age-wise, the population skews older, with a significant portion over 55 years of age. Racially, the county is predominantly white with very few residents identifying... Read more
Race Distribution in Alcona County, Michigan (2022)
Educational Attainment in Alcona County, Michigan (2022)
Age Distribution in Alcona County, Michigan
Citizen Population in Alcona County, Michigan (2022)
Political Trends & Data
Alcona County, Michigan demonstrated a significant Republican preference in the recent presidential election, capturing about 69% of the votes compared to nearly 30% for the Democratic Party. Such a conservative tilt in voter sentiment might impact local real estate trends, possibly favoring policies and developments that align with conservative values. Potential investors and homebuyers should consider this political landscape, as it could influence community growth and market... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Alcona County in Michigan exhibited a noticeable skew towards the Republican Party, with approximately 69% of the vote, while the Democratic Party garnered nearly 30%. Third-party candidates, including Libertarians and Greens, collectively made up a small fraction of the remainder. This allocation of votes might suggest a strong conservative leaning among the county's electorate, which could potentially influence future local and statewide political strategies.
68.63% of voters voted for the Republican party in the 2020 Presidential Election
30.32% of voters voted for the Democrat party in the 2020 Presidential Election
0.71% of voters voted for the Livertarian party in the 2020 Presidential Election
0.16% of voters voted for the Green party in the 2020 Presidential Election
0.18% of voters voted for the Other party in the 2020 Presidential Election
School Data
Alcona County, Michigan has seen a notable decrease in the student-to-teacher ratio over the past decade, dropping from above 20 in 2014 to just under 11 in 2023, now well below the national average of 14 students per teacher. This shift could suggest more personalized attention for students, potentially attracting families to the area and boosting property values and demand. Real estate agents, appraisers, and insurance agents may want to consider these dynamics, as they might indicate a trend... Read more
Student-to-teacher ratio in Alcona County, Michigan over the last 10 years
Over the past decade, Alcona County, Michigan has experienced a significant decrease in the student-to-teacher ratio, dropping from above 20 in 2014 to just under 11 in 2023. This downtrend, particularly sharp after 2020, brings the current ratio well below the national average of 14 students per teacher. This change might suggest more personalized attention for students, which could be enticing for families considering a move to the area. For investors and real estate agents, this shift might signify a more robust educational environment, potentially increasing property values and demand. Appraisers and insurance agents should be aware of these dynamics as they could indicate a trend towards a more family-friendly community.
