Gratiot County Real Estate and Livability Trends
Gratiot County, Michigan has seen steady economic growth with average taxable income per tax return rising from $46,619.45 in 2013 to $59,482.29 by 2021, suggesting a stable economic environment attractive to investors. Real estate also shows notable trends, with median home values climbing from $88,900 in 2015 to $126,500 in 2022, though they still fall behind state and national benchmarks.... Read more
Gratiot County Market Trends
Gratiot County's median home values have jumped from $88,900 in 2015 to $126,500 in 2022, reflecting impressive growth even if they lag behind state and national averages. Significant fluctuation in residential energy tax credits, particularly the 2018 spike to $4,500.00, hints at surges in eco-friendly home renovations. Real estate taxes have nearly doubled over the last decade, suggesting... Read more
Median Value of Occupied Housing Units in Gratiot County, Michigan Over the Last 8 Years
Gratiot County's median home values have shown consistent growth over the past eight years, jumping from $88,900 in 2015 to $126,500 in 2022. Although these values still trail behind both the Michigan state average, which reached $201,100 in 2022, and the national average of $179,400, the rate of increase in Gratiot County has been quite impressive. This trend might suggest a burgeoning interest in the area, potentially making Gratiot County an appealing spot for those looking to invest in, move to, or build property within Michigan.
Residential Energy Tax Credit Per Tax Return in Gratiot County, MI Over the Last 9 Years
Gratiot County, Michigan, has experienced significant volatility in residential energy tax credits over the past nine years. The average tax credit jumped from $387.50 in 2017 to a striking $4,500.00 in 2018 before leveling out around $756.67 in 2021. This suggests fluctuating investments in energy-efficient home improvements. For investors and real estate agents, the spike in 2018 could indicate a surge in eco-friendly home renovations that year. Homeowners and builders may want to consider the potential for future tax incentives when planning energy-efficient upgrades. The variability also provides valuable context for appraisers and insurance agents assessing the economic landscape in Gratiot County.
Average Real Estate Taxes Per Tax Return in Gratiot County, MI Over the Last 10 Years
Over the last decade, real estate taxes in Gratiot County, Michigan have shown a general upward trend. From $2,344.96 in 2012 to $4,160.00 in 2021, the increase is notable, particularly with a significant jump in 2018 when taxes spiked to $3,958.97 and continued rising to a peak of $4,493.33 in 2020. This consistent rise suggests growing property values or increased millage rates, which could imply a strengthening local economy, potentially making Gratiot County an attractive option for investors, real estate professionals, and new residents seeking areas with appreciating real estate markets.
Percentage of Farm Returns in Gratiot County, MI Over the Last 10 Years
Gratiot County in Michigan has seen a general downward trend in the percentage of farm tax returns over the past decade. From a high of approximately 4.84% in 2012, it has gradually decreased to around 3.89% in 2021, despite some minor fluctuations. This indicates a slight decline in the number of farms filing tax returns, perhaps suggesting changes in the agricultural industry or farm ownership patterns within the county. For potential investors or those looking to move to Gratiot County, this information could be a signal to investigate the agricultural sector's stability and opportunities, as farm tax returns can be a reflection of the economic health and resilience of local farming businesses.
Number of Mortgages by Occupancy Type in Gratiot County, MI Over the Last 5 Years in Gratiot County
In Gratiot County, Michigan, the number of mortgages for principal residences has steadily increased from 2018 to 2021, peaking at 1,810 in 2021 before dropping to 1,334 in 2022. Investment property mortgages have seen a gradual decline from 65 in 2018 to 47 in 2022. Mortgages for second residences have remained relatively low and stable over the years, fluctuating between 10 and 22. Changes in occupancy type can indicate shifting housing demands, potentially affecting property values and influencing decisions for investors, developers, real estate agents, and insurance providers. A booming principal residence market might signify an attracting environment for new residents, while declining investment property interest could suggest a less favorable climate for rental market investors.
Economic Outlook
Gratiot County, Michigan has seen a steady rise in average taxable income per tax return, moving from $46,619.45 in 2013 to $59,482.29 in 2021, suggesting economic stability that might attract investors and real estate developers. State and local income taxes have fluctuated significantly, peaking at $15,123.53 in 2020, indicating potential policy shifts or economic changes. Additionally, the county’s average total tax liabilities per tax return have seen some volatility, with an upward trend... Read more
Average Taxable Income per Tax Return in Gratiot County, MI over the last 9 years
Gratiot County, Michigan has seen a noticeable increase in average taxable income per tax return over the past nine years. Starting at $46,619.45 in 2013, the average steadily rose to $59,482.29 in 2021. This upward trend suggests a growing economic stability that could be attractive to investors and real estate developers. Appraisers and insurance agents might also take note of the higher income levels, which could influence property values and risk assessments. The data implies that the county may be experiencing positive economic dynamics, making it an intriguing option for those considering moving to or investing in the area.
Average State and Local Income Taxes Per Tax Return in Gratiot County, MI Over the Last 10 Years
Over the last decade, Gratiot County, Michigan has seen a noticeable fluctuation in average state and local income taxes per tax return. Early stable years with averages around $5,000.00 have given way to significant spikes, peaking in 2020 at approximately $15,123.53. This sharp increase could imply shifting economic conditions or policy changes affecting taxation. Such variability in tax liabilities might be crucial for potential investors or residents to consider when planning financially sustainable ventures or life moves.
Average Total Tax Liability Per Tax Return in Gratiot County, MI Over the Last 10 Years
Over the past decade, Gratiot County in Michigan has witnessed fluctuating average total tax liabilities per tax return, oscillating between a low of $6,843.45 in 2019 and a high of $8,204.05 in 2021. While the figures reveal some volatility, the overall trend appears to lean towards increasing tax liabilities, especially notable from 2020 to 2021. This information is potentially relevant for investors, real estate agents, appraisers, and insurance professionals assessing the financial landscape of the county.
Cost of Living in Gratiot County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,073 | $1,307 | $1,677 | $1,153 | $976 |
| 1 adult 4 children | $1,073 | $1,067 | $1,281 | $1,153 | $1,059 |
| 2 adults 3 children | $1,073 | $1,068 | $1,456 | $1,153 | $815 |
| 1 adult 3 children | $1,073 | $872 | $1,060 | $1,153 | $854 |
| 2 adults 2 children | $826 | $874 | $1,235 | $999 | $738 |
| 1 adult 2 children | $826 | $653 | $839 | $999 | $648 |
| 2 adults 1 child | $826 | $691 | $1,014 | $500 | $682 |
| 1 adult 1 child | $826 | $446 | $617 | $500 | $564 |
| 2 adults | $660 | $555 | $793 | $0 | $595 |
| 1 adult | $552 | $303 | $396 | $0 | $482 |
Safety trends & Data
Gratiot County, Michigan has seen fluctuating property crime trends over the past five years, with Larceny-Theft consistently being the most significant concern. In 2022, both Larceny-Theft cases and Vandalism incidents saw notable increases, reaching 38 and 8 respectively. While Motor Vehicle Theft and Embezzlement remained low, there was a slight uptick in Burglary incidents, rising from 1 in 2018 to 3 in 2022. Prospective investors and property developers might want to factor in these trends... Read more
Property Crime Trends in Gratiot County, MI Over the Last 5 Years
Gratiot County, Michigan has experienced fluctuating property crime trends over the past five years, with Larceny-Theft consistently being the most significant concern. Notably, 2022 saw a sharp increase in both Larceny-Theft cases, reaching 38, and Vandalism incidents, doubling to 8 from the previous year. While cases of Motor Vehicle Theft and Embezzlement generally remained low, there was a slight uptick in Burglary incidents from 1 in 2018 to 3 in 2022. Potential investors and property developers should consider these trends and the possible need for heightened security measures.
Demographics
Gratiot County, Michigan has a population with a slight male majority. Educational attainment varies widely, but there's a notable concentration of high school graduates and those with some college experience, hinting at a community where further education beyond high school is somewhat common but higher education degrees are less frequent. The age distribution leans heavily towards working-age adults, especially those between 25 to 64 years old, suggesting a potentially stable labor market.... Read more
Race Distribution in Gratiot County, Michigan (2022)
Educational Attainment in Gratiot County, Michigan (2022)
Age Distribution in Gratiot County, Michigan
Citizen Population in Gratiot County, Michigan (2022)
Political Trends & Data
Gratiot County in Michigan leaned heavily towards the Republican party during the 2020 U.S. Presidential Election, with Republicans potentially securing around 63.3% of the votes. Democrats likely garnered nearly 35%, while minor parties like the Libertarians and Greens had minimal impact, gaining just over 1.2% and close to 0.3% of the votes,... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Gratiot County in Michigan leaned towards the Republican party during the 2020 U.S. Presidential Election, with Republicans potentially securing around 63.3% of the votes. Democrats likely garnered nearly 35%, while minor parties like the Libertarians and Greens seemed to have a minimal impact, gaining just over 1.2% and close to 0.3% of the votes, respectively.
63.27% of voters voted for the Republican party in the 2020 Presidential Election
34.99% of voters voted for the Democrat party in the 2020 Presidential Election
1.25% 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
0.22% of voters voted for the Other party in the 2020 Presidential Election
School Data
Gratiot County, Michigan has seen its student-to-teacher ratio swing from 20 students per teacher in 2014 down to 17 by 2017, spiking to 26 in 2022, and falling back to nearly 17 in 2023. This inconsistency may reflect shifts in funding, teacher staffing, and enrollment, impacting educational quality. Given the national average is 14 students per teacher, Gratiot County’s often larger class sizes could influence investor decisions, property developments, and educational... Read more
Student-to-teacher ratio in Gratiot County, Michigan over the last 10 years
Gratiot County, Michigan has experienced notable fluctuations in its student-to-teacher ratio over the past decade. From 20 students per teacher in 2014, the ratio decreased to 17 students per teacher by 2017, only to sharply increase to 26 students per teacher in 2022. By 2023, it dropped to nearly 17 students per teacher. This variability in classroom sizes could potentially reflect changes in funding, teacher availability, and enrollment numbers, affecting educational quality. Compared to the national average of 14 students per teacher, Gratiot County generally operates with larger class sizes, which might influence investor decisions, property developments, and educational planning.
