Bay County Real Estate and Livability Trends
Bay County, Michigan, has seen the median home values climb from $92,800 in 2015 to $125,000 in 2022, remaining below state and national averages. Average state and local income taxes per return almost doubled, reflecting potential economic uplift or tax policy adjustments. Real estate taxes nearly doubled over the decade, suggesting increasing property values or shifts in municipal funding... Read more
Bay County Market Trends
Bay County, Michigan, has seen median home values rise from $92,800 in 2015 to $125,000 in 2022, still behind the state and national medians. The residential energy tax credit per tax return peaked at $2975.00 in 2018, pointing to growing interest in energy efficiency. Real estate taxes almost doubled over a decade, reaching around $4,715.32 in 2021, hinting at rising property values or changing... Read more
Median Value of Occupied Housing Units in Bay County, Michigan Over the Last 8 Years
Over the past 8 years, the median home values in Bay County, Michigan have shown a steady increase, rising from $92,800 in 2015 to $125,000 in 2022. While this reflects a positive growth trend, it's interesting to note that Bay County has consistently lagged behind the state median value, which surged from $122,400 in 2015 to $201,100 in 2022. Comparatively, national median home values also climbed from $125,500 to $179,400 over the same period. For potential investors, homebuyers, and property developers, these trends may suggest that Bay County continues to offer relatively affordable opportunities despite its upward momentum, making it a potentially appealing market for those priced out of higher-value regions in Michigan and nationwide.
Residential Energy Tax Credit Per Tax Return in Bay County, MI Over the Last 9 Years
In Bay County, Michigan, the residential energy tax credit per tax return has seen significant fluctuations over the past nine years, peaking notably in 2018 at $2975.00. Aside from this spike, the figures generally hovered between approximately $235.84 and $420.34, with a noticeable increase starting in 2017 and maintaining a higher average through 2021. These trends may suggest an increasing awareness or adoption of energy-efficient practices and improvements, making it a potentially attractive area for green investments, real estate developments centered around sustainability, and for potential residents interested in energy savings.
Average Real Estate Taxes Per Tax Return in Bay County, MI Over the Last 10 Years
Over the past decade, average real estate taxes per tax return in Bay County, Michigan have shown a noticeable upward trend, nearly doubling from approximately $2,684.23 in 2012 to around $4,715.32 in 2021. The jump between 2017 to 2018 was particularly significant, indicating a possible reassessment or policy change. Such an increase in real estate taxes could imply rising property values or changing municipal funding needs, impacting potential investors and homeowners who might need to factor these costs into their financial planning. This trend is also relevant for appraisers and insurance agents considering the correlation between property valuations and taxation. Real estate agents and builders should remain aware of these shifts as they influence both the market appeal and the economic landscape for new developments.
Percentage of Farm Returns in Bay County, MI Over the Last 10 Years
Over the last decade, the percentage of farm tax returns in Bay County, Michigan has generally seen a slight decline, starting at around 1.23% in 2012 and dipping to approximately 1.06% by 2021. This marginal drop could suggest a subtle shift in the agricultural economy or land use trends in the area. Farm tax returns, in this context, represent the number of tax filings from agricultural activity relative to the total tax filings in the county. For anyone considering investment, relocation, or property development in Bay County, these trends might imply either a gradual reduction in farming activity or a diversification of the local economy.
Number of Mortgages by Occupancy Type in Bay County, MI Over the Last 5 Years in Bay County
In Bay County, Michigan, mortgage trends over the past five years show a dominant focus on principal residences, consistently comprising the bulk of mortgage counts with fluctuating but significant numbers ranging from 3447 to 5720 annually. Investment properties also exhibit growth, albeit at a smaller scale, indicating nuanced interest in real estate as an income source. Second residences remain the least common type, with relatively stable, low counts suggesting limited demand or opportunities for vacation homes or part-time living. The shifts in occupancy types can offer insights for investors eyeing potential rental markets, homebuyers considering long-term stability, appraisers assessing property values, or real estate agents understanding buyer behavior in a dynamic market. These variations hint at evolving economic factors and housing preferences, essential for making informed decisions about development, insurance, and market positioning.
Economic Outlook
Bay County, Michigan, has experienced a notable rise in average taxable income per tax return, climbing from $45,609.89 in 2013 to $61,508.95 in 2021. Concurrently, average state and local income taxes per tax return have nearly doubled, reflecting possible economic uplift or tax policy shifts. The average total tax liability per tax return has also been on an upward trajectory, peaking at about $8,922.83 in 2021. These trends suggest a growing economy, potentially increasing property values... Read more
Average Taxable Income per Tax Return in Bay County, MI over the last 9 years
Bay County, Michigan has witnessed a notable uptick in average taxable income per tax return over the last nine years. From $45,609.89 in 2013 to $61,508.95 in 2021, the steady growth suggests a positive economic trend which could be intriguing for investors and real estate professionals evaluating the market. This income growth might also influence property appraisals and insurance evaluations, making the area potentially more lucrative for new constructions and property developments. For potential movers, this could be indicative of a strengthening local economy.
Average State and Local Income Taxes Per Tax Return in Bay County, MI Over the Last 10 Years
Bay County, Michigan has seen notable increases in average state and local income taxes per tax return over the past decade, rising from approximately $4,346.77 in 2012 to around $9,697.64 in 2021. This significant growth, particularly between 2017 and 2021, could be indicative of rising incomes or changes in tax policies. For potential investors or those considering moving to the area, understanding these trends is essential as they might reflect broader economic shifts and impact cost of living calculations and financial planning.
Average Total Tax Liability Per Tax Return in Bay County, MI Over the Last 10 Years
Over the past decade in Bay County, Michigan, the average total tax liability per tax return has experienced a general upward trend. Starting at around $6714.00 in 2012, it saw gradual increases, spiking significantly in 2021 to approximately $8922.83. This could suggest factors such as rising incomes, increased property values, or shift in local tax policies. Such trends might interest potential investors or property appraisers considering the county's economic growth trajectory or could be pivotal for insurance agents and real estate professionals assessing market conditions.
Cost of Living in Bay County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,150 | $1,371 | $1,590 | $1,469 | $1,059 |
| 1 adult 4 children | $1,150 | $1,120 | $1,222 | $1,469 | $1,160 |
| 2 adults 3 children | $1,150 | $1,120 | $1,376 | $1,469 | $880 |
| 1 adult 3 children | $1,150 | $915 | $1,008 | $1,469 | $960 |
| 2 adults 2 children | $876 | $917 | $1,163 | $1,282 | $784 |
| 1 adult 2 children | $876 | $685 | $795 | $1,282 | $717 |
| 2 adults 1 child | $876 | $725 | $950 | $673 | $703 |
| 1 adult 1 child | $876 | $468 | $582 | $673 | $591 |
| 2 adults | $686 | $582 | $736 | $0 | $564 |
| 1 adult | $629 | $318 | $368 | $0 | $475 |
Safety trends & Data
Over the past five years in Bay County, Michigan, property crimes have varied. Larceny-Theft, the most common crime, dropped significantly from 123.0 incidents in 2018 to 40.0 in 2022. Burglary incidents saw a similar decline, from 44.0 in 2018 to 18.0 by 2022. Vandalism fluctuated but remained notable, peaking at 45.0 incidents in 2019 and falling to 20.0 in 2022. These trends might reflect improved security measures or effective community programs, which could impact decisions for real estate... Read more
Property Crime Trends in Bay County, MI Over the Last 5 Years
Over the last five years in Bay County, Michigan, property crimes have shown varied trends. Larceny-Theft consistently remains the most prevalent crime, though its frequency has seen a notable decline from 123.0 incidents in 2018 to 40.0 in 2022. Burglary incidents also trended downward, starting at 44.0 in 2018 and reducing to 18.0 by 2022. Meanwhile, Vandalism fluctuated but maintained a relatively significant presence, peaking in 2019 with 45.0 incidents before dropping to 20.0 in 2022. These patterns could indicate improving security measures or effective community programs and have implications for real estate agents, insurance agents, and potential investors considering the safety and economic stability of the area.
Demographics
Bay County, Michigan showcases distinct demographic trends worth noting. The population distribution is slightly skewed towards females, who edge out males by a small margin. Educational attainment suggests a predominance of high school graduates, though individuals holding bachelor's or higher degrees form a significant segment, pointing to an invested interest in higher education. Age-wise, the largest cohorts are middle-aged, with those aged 45 to 54 years and 55 to 64 years forming... Read more
Race Distribution in Bay County, Michigan (2022)
Educational Attainment in Bay County, Michigan (2022)
Age Distribution in Bay County, Michigan
Citizen Population in Bay County, Michigan (2022)
Political Trends & Data
In Bay County, Michigan, 2020 U.S. Presidential Election results indicated that Republicans likely took around 55% of the vote, whereas Democrats potentially secured about 43%. The dominance of the two major parties suggests a politically bi-polar landscape, consistent with wider state or national voting patterns. This could hint at broader implications for future elections and political strategies in the... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Bay County, Michigan, the 2020 U.S. Presidential Election results show Republicans likely held a majority with around 55% of the vote, while Democrats potentially captured about 43%. Libertarian and Green party candidates, along with others, collectively made up a small fraction of the vote, indicating the county's political landscape might be significantly dominated by the two major parties. This distribution possibly reflects broader state or even national voting trends, providing insights into the political leanings within the region.
54.97% of voters voted for the Republican party in the 2020 Presidential Election
43.40% of voters voted for the Democrat party in the 2020 Presidential Election
1.14% of voters voted for the Livertarian party in the 2020 Presidential Election
0.26% of voters voted for the Green party in the 2020 Presidential Election
0.23% of voters voted for the Other party in the 2020 Presidential Election
School Data
In Bay County, Michigan, the student-to-teacher ratio has seen notable fluctuations over the past decade. Between 2014 and 2020, the ratio generally hovered between 16 and 18 students per teacher, peaking at 18 in 2019. It surged to 22 in 2021 before dropping back to around 16 in 2022 and 2023. These shifts could be relevant for families prioritizing school quality, as higher ratios might suggest less individualized attention. Lower ratios might enhance the area’s appeal by implying better... Read more
Student-to-teacher ratio in Bay County, Michigan over the last 10 years
In Bay County, Michigan, the student-to-teacher ratio shows notable fluctuations over the past decade. Between 2014 and 2020, the ratio generally hovered between 16 and 18 students per teacher, peaking in 2019 at 18. The ratio surged to 22 in 2021 before dropping significantly to around 16 in 2022 and 16 in 2023. These variations could be of interest to families considering school quality, as higher ratios might indicate less individualized attention for students. For potential investors and real estate agents, trends toward lower ratios might enhance the area's appeal by suggesting improved educational resources. Appraisers and insurance agents might also see shifts in property values correlating with these trends, impacting their evaluations and premiums.
