Grand Traverse County Real Estate and Livability Trends
Grand Traverse County, Michigan’s real estate market is experiencing shifts worth noting. Average taxable income per tax return rose to $95,438.17 in 2021, potentially signaling economic growth and rising property values. Median home values have surged from $167,900 in 2015 to $273,300 in 2022, outpacing state and national trends. However, the poverty rate's fluctuation to 11.7% in 2022 could... Read more
Grand Traverse County Market Trends
Grand Traverse County, Michigan has seen an impressive boost in median home values, leaping from $167,900 in 2015 to $273,300 in 2022, outperforming both state and national growth. There's notable interest in residential energy efficiency, evidenced by a 2018 spike in average tax credits, which skyrocketed to $2,966.67, though they later stabilized around $600.00 to $630.56. Real estate taxes in... Read more
Median Value of Occupied Housing Units in Grand Traverse County, Michigan Over the Last 8 Years
Grand Traverse County, Michigan has experienced a striking increase in median home values over the past eight years, jumping from $167,900 in 2015 to $273,300 in 2022. This compares favorably to the state of Michigan, which only rose from $122,400 to $201,100 in the same period. Even more impressive, Grand Traverse County's market growth outpaces the national median, which moved from $125,500 to $179,400. Investors and prospective homeowners may find this region particularly appealing given its robust appreciation in home values, suggesting a strong and potentially lucrative market.
Residential Energy Tax Credit Per Tax Return in Grand Traverse County, MI Over the Last 9 Years
Over the last nine years, Grand Traverse County in Michigan has seen fluctuations in the average residential energy tax credit per tax return. While figures were relatively stable between 2013 ($322.14) and 2017 ($354.55), a significant spike occurred in 2018, with the average credit soaring to $2,966.67, possibly indicating increased investment in energy-efficient home improvements. This anomaly was followed by a return to more moderate levels, showing a general trend towards higher-than-average credits in recent years, stabilizing around $600.00 to $630.56 from 2019 to 2021. This suggests a growing awareness and possible investment in energy-saving technologies among residents.
Average Real Estate Taxes Per Tax Return in Grand Traverse County, MI Over the Last 10 Years
Grand Traverse County, Michigan has seen a notable increase in average real estate taxes per tax return over the past decade. From $3,717.96 in 2012 to $7,404.87 in 2021, there’s been a steady upward trend, with significant jumps particularly evident from 2017 to 2018 and again from 2019 to 2020. This matters for potential investors and homebuyers as it indicates rising property values and potentially higher fiscal obligations, which also reflects a strong real estate market. Appraisers and insurance agents may find this data useful for forecasting property values and premiums, while those looking to build property might want to account for this upward trend in their budget planning.
Percentage of Farm Returns in Grand Traverse County, MI Over the Last 10 Years
Over the past decade, the percentage of farm tax returns in Grand Traverse County, Michigan has shown a slight downward trend, starting from approximately 0.95% in 2012 and gradually decreasing to about 0.74% in 2021. Farm tax returns, representing filings for income generated through agricultural activities, serve as an indicator of the region's farming economy. This trend may suggest a gradual shift in the economic landscape, possibly moving away from traditional farming. Investors, developers, and new residents might find this data pivotal, as it speaks to the potential diminishing prominence of agriculture in the area, which could impact land use, zoning decisions, and the types of businesses that may thrive here. For those looking to invest in property or businesses related to agricultural endeavors, it's important to consider these shifts and what they mean for long-term sustainability and economic viability in the region.
Number of Mortgages by Occupancy Type in Grand Traverse County, MI Over the Last 5 Years in Grand Traverse County
In Grand Traverse County, Michigan, the dominant trend over the past five years shows a significant volume of mortgages for principal residences compared to investment and second residences. While there has been a marked increase in mortgages for principal residences, from 4,077 in 2018 to 6,662 in 2020, the numbers for investment properties and second residences have remained relatively stable with minor fluctuations. This uptick in primary residence mortgages could suggest a growing preference for long-term settlement in the area, potentially driving up property values and altering the rental market dynamics. For investors, it highlights an opportunity to capitalize on a burgeoning market for primary homes, while insurance agents and appraisers might consider the implications on risk assessments and valuation. For real estate agents and developers, understanding these shifts is crucial for aligning inventory with market demand.
Economic Outlook
Grand Traverse County, Michigan, has seen a significant rise in average taxable income per tax return, reaching $95,438.17 in 2021, indicating potential economic growth and rising property values. The sharp escalation in state and local income taxes, hitting $19,465.00 in 2021, might reflect robust local economic activities but also presents a higher tax burden. The average total tax liability spiked to $17,793.58 in 2021, hinting at an economic upswing or changes in tax policies. However,... Read more
Average Taxable Income per Tax Return in Grand Traverse County, MI over the last 9 years
Grand Traverse County, Michigan, has seen a consistent increase in average taxable income per tax return over the past nine years, with a remarkable jump in 2021, reaching $95,438.17. This trend likely reflects economic growth and rising property values, making the county potentially appealing for real estate investors. It also may suggest a robust local economy which can be crucial for appraisers and insurance agents assessing property risks and values in the area. For those looking to move to or invest in the region, these income trends might indicate a thriving community with increasing earning potential, which can impact housing markets and investment returns.
Average State and Local Income Taxes Per Tax Return in Grand Traverse County, MI Over the Last 10 Years
Over the past decade, Grand Traverse County in Michigan has seen a notable rise in average state and local income taxes per tax return. Starting from approximately $5,134.39 in 2012, this figure has incrementally increased, with a significant jump observed between 2017 and 2018 when it surged from about $7,267.16 to $11,467.14. By 2021, the average tax return amount reached a striking $19,465.00, indicating robust economic activities and possibly higher incomes. This sharp escalation could be of interest to potential investors and those looking to move to the area, suggesting a flourishing local economy but also a higher tax burden to consider when planning long-term commitments or property investments.
Average Total Tax Liability Per Tax Return in Grand Traverse County, MI Over the Last 10 Years
Over the past decade, Grand Traverse County, Michigan has seen a considerable rise in average total tax liability per tax return, climbing from $9,486.78 in 2012 to $17,793.58 in 2021. This sharp increase, particularly notable from 2016 onwards, could imply an economic upswing or changes in tax policies. For potential investors, real estate agents, and those considering relocation, these figures hint at a dynamic financial environment that could impact property values, insurance needs, and overall cost of living.
Cost of Living in Grand Traverse County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,321 | $1,520 | $1,603 | $1,653 | $1,353 |
| 1 adult 4 children | $1,321 | $1,241 | $1,224 | $1,653 | $1,463 |
| 2 adults 3 children | $1,321 | $1,242 | $1,392 | $1,653 | $1,126 |
| 1 adult 3 children | $1,321 | $1,014 | $1,013 | $1,653 | $1,243 |
| 2 adults 2 children | $1,085 | $1,017 | $1,181 | $1,432 | $971 |
| 1 adult 2 children | $1,085 | $759 | $802 | $1,432 | $980 |
| 2 adults 1 child | $1,085 | $803 | $970 | $716 | $874 |
| 1 adult 1 child | $1,085 | $519 | $591 | $716 | $745 |
| 2 adults | $914 | $645 | $759 | $0 | $708 |
| 1 adult | $750 | $352 | $379 | $0 | $546 |
Safety trends & Data
In Grand Traverse County, Michigan, property crime trends over the past five years show significant fluctuations, particularly in Larceny-Theft, which peaked at 273 incidents in 2018 but declined to 109 by 2022. Burglary and Vandalism have also been present but with less volatility; burglary peaked at 23 incidents in 2022, while vandalism hit its highest at 41 incidents in 2019. While Arson remains infrequent, Fraud and Embezzlement rates show moderate but decreasing occurrences. This shifting... Read more
Property Crime Trends in Grand Traverse County, MI Over the Last 5 Years
Over the past five years in Grand Traverse County, Michigan, property crime trends exhibit notable fluctuations, with Larceny-Theft consistently accounting for the highest number of incidents, peaking at 273 in 2018 and generally declining to 109 in 2022. In contrast, Burglary and Vandalism show less volatile patterns but maintain a presence, with burglary peaking at 23 incidents in 2022 and vandalism peaking at 41 in 2019. Fraud and Embezzlement rates appear to have moderate occurrences, fluctuating each year but trending lower in more recent data. Arson, while not as frequent, maintains a small but consistent presence. The overall data suggests a shifting landscape in property crime, which could influence various stakeholders' decisions from investors and real estate agents to local residents and insurance agents.
Demographics
Grand Traverse County, Michigan, shows a relatively balanced gender distribution, with a slight female majority. The area exhibits a strong educational attainment, with notable proportions of the population holding a Bachelor's or higher degree. Age distribution indicates a significant presence of residents aged 55 to 64, hinting at a possibly aging population, while children under 10 also make up a considerable segment. Racially, the county is predominantly White, with very small percentages... Read more
Race Distribution in Grand Traverse County, Michigan (2022)
Educational Attainment in Grand Traverse County, Michigan (2022)
Age Distribution in Grand Traverse County, Michigan
Citizen Population in Grand Traverse County, Michigan (2022)
Political Trends & Data
In Grand Traverse County, Michigan, the 2020 U.S. Presidential Election showed Republicans possibly claiming a slight majority at 50.6%, with Democrats not far behind at 47.6%, pointing to a notably competitive political landscape. Minor parties like the Libertarians and Greens drew minimal support, around 1.3% and 0.3% respectively, while "Other" parties contributed insignificantly, revealing a predominantly two-party system with interesting local... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Grand Traverse County, Michigan, a narrow lead was observed with Republicans potentially securing a slight majority of around 50.6% of the vote in the 2020 U.S. Presidential Election. Democrats followed closely behind with roughly 47.6% of the votes, indicating a fairly competitive local political landscape. Minor parties like the Libertarians and Greens seemed to have drawn minimal support, each garnering about 1.3% and 0.3% respectively. Parties categorized as "Other" made up an insignificant part of the overall vote share, contributing to a diverse but predominantly two-party dominated voting pattern.
50.64% of voters voted for the Republican party in the 2020 Presidential Election
47.62% of voters voted for the Democrat party in the 2020 Presidential Election
1.32% of voters voted for the Livertarian party in the 2020 Presidential Election
0.25% 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
Grand Traverse County, Michigan's student-to-teacher ratio has steadily decreased from 16 students per teacher in 2014 to around 13 students per teacher in 2023. While the national average sits at about 14 students per teacher, this improvement hints at better educational conditions in the county. For families with school-aged children, this trend could signal increased personalized attention in schools, potentially driving property values up and making the area more appealing for investment... Read more
Student-to-teacher ratio in Grand Traverse County, Michigan over the last 10 years
Grand Traverse County, Michigan has seen a gradual decline in its student-to-teacher ratio over the past decade, moving from 16 students per teacher in 2014 to just about 13 students per teacher in 2023. For context, the current national average in the US is around 14 students per teacher. This shift could be important for potential investors, real estate agents, and those considering moving to the area as it may indicate improving educational conditions. A lower student-to-teacher ratio often suggests more personalized attention for students, a key selling point for families with school-aged children. It also could influence property values positively, making the area attractive for development and long-term investment.
