Emmet County Real Estate and Livability Trends
Emmet County, Michigan's real estate market has experienced a significant upswing, with median home values leaping from $163,100 in 2015 to $246,300 by 2022, surpassing both state and national trends. Rising real estate taxes—from $4,367.47 in 2012 to $9,603.60 in 2021—suggest appreciating property values, making the area potentially lucrative for investment. Meanwhile, the increasing demand... Read more
Emmet County Market Trends
Emmet County, Michigan saw its median home value rise steeply from $163,100 in 2015 to $246,300 in 2022, outstripping state and national growth rates. Residential energy tax credits fluctuated significantly, peaking in 2018, likely influenced by varying policies or economic conditions. Real estate taxes jumped from $4,367.47 in 2012 to $9,603.60 by 2021, hinting at appreciating property values... Read more
Median Value of Occupied Housing Units in Emmet County, Michigan Over the Last 8 Years
Over the past eight years, Emmet County, Michigan has seen a significant rise in median home values, jumping from $163,100 in 2015 to $246,300 in 2022. This increase substantially outpaces state-wide figures, where values grew from $122,400 to $201,100 in the same period. Nationally, the rise was more tempered, starting at $125,500 in 2015 and reaching $179,400 by 2022. This trend could indicate stronger local demand or a more attractive market in Emmet County for potential investors or buyers compared to broader trends.
Residential Energy Tax Credit Per Tax Return in Emmet County, MI Over the Last 9 Years
Residential energy tax credits in Emmet County, Michigan have shown considerable fluctuation over the past nine years. While the credit per tax return saw a noticeable surge in 2018, reaching approximately $1,466.67, it appears to have somewhat stabilized in subsequent years, though not consistently above the early decade levels. For investors and property developers, this trend likely indicates sporadic incentives that may correlate with policies or local economic conditions, making it worth monitoring for potential future benefits. Homeowners and real estate agents might find such credits appealing when weighing energy efficiency improvements, as they could affect property values and operational costs.
Average Real Estate Taxes Per Tax Return in Emmet County, MI Over the Last 10 Years
In Emmet County, Michigan, real estate taxes per tax return have shown a marked increase over the past decade. From around $4,367.47 in 2012, the average surged to $9,603.60 by 2021. Notably, there was a significant jump between 2017 and 2018, where taxes per return increased from $5,220.63 to $7,903.70. These trends could indicate a robust local real estate market with rising property values, which might attract investors and homebuyers seeking growth opportunities. For appraisers and real estate agents, this upward trajectory in taxes could suggest appreciating property values, while for insurers, it could reflect higher replacement costs.
Percentage of Farm Returns in Emmet County, MI Over the Last 10 Years
Emmet County, Michigan has seen its percentage of farm tax returns hover roughly between 1.07% and 1.19% over the last decade. These figures suggest a fairly stable, albeit minor, share of the overall tax returns attributable to farming operations. For prospective investors or residents, this steady data may imply a consistent yet small agricultural presence, which might affect local property values and economic activities. Farm tax returns typically reflect active agricultural income, helping to understand the vibrancy and contribution of the farming sector in the region.
Number of Mortgages by Occupancy Type in Emmet County, MI Over the Last 5 Years in Emmet County
Emmet County, Michigan's mortgage trends reveal notable shifts in occupancy types over the past five years. Principal residences consistently dominate the mortgage landscape, peaking in 2021 with 1,837 mortgages, while second residences saw a significant jump in 2020 with 545 mortgages, indicating perhaps a growing interest in vacation or secondary homes. Interestingly, investment property mortgages are generally much lower, hovering around the 50-70 mark, which might suggest limited interest or opportunity in rental or commercial properties. These shifts matter to investors and developers eyeing potential returns, appraisers gauging property values, and insurance agents assessing risk factors. Real estate professionals and prospective residents should consider these trends to understand the evolving market dynamics in Emmet County.
Economic Outlook
In Emmet County, Michigan, average taxable income per tax return has generally risen over the last nine years, peaking at $97,706.85 in 2021. State and local income taxes have also surged from $5,875.77 in 2012 to $18,979.44 in 2021, especially spiking after 2017. Additionally, total tax liability per tax return climbed from $11,482.84 in 2012 to $19,590.00 in 2021, with a sharp uptick post-2016. This economic vitality and increased earnings might boost property values and could attract... Read more
Average Taxable Income per Tax Return in Emmet County, MI over the last 9 years
The average taxable income per tax return in Emmet County, Michigan has shown a general upward trend over the last nine years, peaking notably in 2021 at $97,706.85. This growth reflects a potential increase in the economic vitality and earning potential within the county, which could be appealing for investors and those considering moving to the area. However, a slight dip in 2017 might indicate some volatility. These trends could impact property values and insurance premiums, and are useful for real estate professionals and appraisers assessing the region's market stability.
Average State and Local Income Taxes Per Tax Return in Emmet County, MI Over the Last 10 Years
Over the past decade, Emmet County, Michigan has seen a notable increase in average state and local income taxes per tax return, with figures rising from around $5,875.77 in 2012 to approximately $18,979.44 in 2021. This momentum started gradually but accelerated sharply after 2017, potentially impacting future residents' and investors' financial planning. While there's always variability in taxation, this upward trend could signal shifting economic dynamics within the county, prompting considerations for fiscal stability and public service investments.
Average Total Tax Liability Per Tax Return in Emmet County, MI Over the Last 10 Years
Over the last decade, Emmet County, Michigan has seen a fluctuating yet generally rising trend in the average total tax liability per tax return, starting at $11,482.84 in 2012 and reaching a peak of $19,590.00 in 2021. These shifts might indicate economic changes or evolving demographics, offering essential insights for investors, real estate agents, and prospective homeowners evaluating long-term financial commitments in the area. The sharp increase between 2016 and 2021 merits attention from appraisers and insurance agents as it could affect property valuations and risk assessments.
Cost of Living in Emmet County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,197 | $1,548 | $1,603 | $1,494 | $1,244 |
| 1 adult 4 children | $1,197 | $1,264 | $1,224 | $1,494 | $1,366 |
| 2 adults 3 children | $1,197 | $1,265 | $1,392 | $1,494 | $1,042 |
| 1 adult 3 children | $1,197 | $1,033 | $1,013 | $1,494 | $1,141 |
| 2 adults 2 children | $975 | $1,035 | $1,181 | $1,295 | $915 |
| 1 adult 2 children | $975 | $773 | $802 | $1,295 | $899 |
| 2 adults 1 child | $975 | $818 | $970 | $648 | $833 |
| 1 adult 1 child | $975 | $529 | $591 | $648 | $685 |
| 2 adults | $745 | $657 | $759 | $0 | $653 |
| 1 adult | $652 | $359 | $379 | $0 | $530 |
Safety trends & Data
In Emmet County, Michigan, property crime trends have shown a notable downward shift over the past five years. Larceny-theft incidents dropped from 41 cases in 2018 to just 10 by 2022, whereas burglary cases have stayed relatively stable, hovering between 2-6 annually. Reductions in fraud and vandalism, albeit inconsistent, along with minimal yet consistent motor vehicle theft and embezzlement cases, suggest a decreasing overall property crime rate. This could perhaps hint at enhanced... Read more
Property Crime Trends in Emmet County, MI Over the Last 5 Years
In Emmet County, Michigan, property crime trends over the past five years show a notable decline in larceny-theft, from 41 cases in 2018 to just 10 cases by 2022. Meanwhile, incidents of burglary have remained relatively stable, hovering around 2-6 cases annually. Fraud and vandalism incidents have also seen reductions, albeit with some fluctuation. Motor vehicle theft and embezzlement cases have been minimal but consistent. These trends suggest a generally decreasing property crime rate, which could positively impact investment opportunities and property values in the area.
Demographics
Emmet County, Michigan's demographic landscape in 2022 shows a fairly balanced gender distribution with slight female predominance. This region appears to have a predominantly white population, with very small communities of other racial groups. Age-wise, there's a noticeable concentration of older adults, particularly those aged 55 and above, hinting at a potentially aging population. Educationally, residents largely possess high school diplomas or some college education, with a significant... Read more
Race Distribution in Emmet County, Michigan (2022)
Educational Attainment in Emmet County, Michigan (2022)
Age Distribution in Emmet County, Michigan
Citizen Population in Emmet County, Michigan (2022)
Political Trends & Data
Emmet County, Michigan, leaned Republican in the 2020 U.S. Presidential Election, with a perhaps notable gap between Republican and Democrat votes. Minor parties like the Libertarians had minimal impact, suggesting a stable partisan alignment. Yet, there might be slight shifts in voter behavior from previous... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Emmet County, Michigan, saw a leaning towards Republican preferences in the 2020 U.S. Presidential Election, with a possibly notable marginal gap between Republican and Democrat votes. Libertarians and other minor parties seemed to have had a minimal impact. This trend might indicate a relatively stable partisan alignment, though slight shifts in voter behavior could be inferred when compared to prior elections.
54.72% of voters voted for the Republican party in the 2020 Presidential Election
43.57% of voters voted for the Democrat party in the 2020 Presidential Election
1.28% of voters voted for the Livertarian party in the 2020 Presidential Election
0.27% of voters voted for the Green party in the 2020 Presidential Election
0.17% of voters voted for the Other party in the 2020 Presidential Election
School Data
Emmet County, Michigan has seen a higher student-to-teacher ratio than the national average over the past decade, peaking at 17.5 in 2016 and gradually decreasing to 14.63 in 2023. This trend could indicate a shift in educational priorities or efforts to rebalance resources, which might attract families looking for better educational outcomes. For investors and real estate professionals, these changes could influence the area's appeal, as lower ratios suggest more personalized classroom... Read more
Student-to-teacher ratio in Emmet County, Michigan over the last 10 years
The student-to-teacher ratio in Emmet County, Michigan has generally surpassed the national average of 14 students per teacher over the past decade, seeing a peak at 17.5 in 2016 before gradually decreasing to 14.63 in 2023. This trend might suggest a rebalancing effort or shifting educational priorities in the county, which could be of interest to families considering relocation. For investors and real estate agents, these fluctuating ratios could impact the attractiveness of the area, as lower ratios typically signal more personalized attention in classrooms. Appraisers and insurance agents might also find this data relevant when assessing property values and risks, respectively, since educational quality can influence neighborhood desirability and stability.
