Houghton County Real Estate and Livability Trends
Houghton County, Michigan, has experienced a noticeable rise in median home values, jumping from $93,800 in 2015 to $129,200 in 2022, making it possibly an attractive market due to its affordability relative to state and national medians. The uptick in real estate taxes per tax return to $5,057.89 by 2021 and the growing interest in investment property mortgages suggest a dynamic rental market.... Read more
Houghton County Market Trends
Houghton County, Michigan, has witnessed a steady rise in median home values from $93,800 in 2015 to $129,200 in 2022, staying below the state and national medians. This could signal Houghton County as a potentially affordable market with room for growth. Residential energy tax credits in the county have varied sharply, peaking at $1,350.00 in 2018, likely reflecting changing incentives and... Read more
Median Value of Occupied Housing Units in Houghton County, Michigan Over the Last 8 Years
Over the past eight years, Houghton County, Michigan, has seen a rise in median home values from $93,800 in 2015 to $129,200 in 2022. While this is a steady increase, it remains lower than both Michigan’s state median, which jumped from $122,400 to $201,100 in the same period, and the national median that rose from $125,500 to $179,400. This could suggest Houghton County may provide more affordable housing options while still experiencing healthy growth, making it potentially attractive for investors and new residents looking for lower entry costs.
Residential Energy Tax Credit Per Tax Return in Houghton County, MI Over the Last 9 Years
Houghton County, Michigan has seen significant fluctuations in the average residential energy tax credit per tax return over the past nine years, varying from a low of around $279.55 in 2013 to a peak of $1,350.00 in 2018. This volatility may reflect changing incentives or increasing investments in energy-efficient home upgrades and renewable energy installations. For property investors, appraisers, and real estate agents, these trends could indicate a growing market for energy-efficient homes. Moreover, insurance agents might want to consider these upgrades in their risk assessments and policy offerings. Potential residents or current homeowners should note these dynamics as they could offer savings and increase home values through energy tax credits.
Average Real Estate Taxes Per Tax Return in Houghton County, MI Over the Last 10 Years
Over the past decade, Houghton County, Michigan has seen a sometimes significant increase in average real estate taxes per tax return, rising from roughly $3,469.41 in 2012 to about $5,057.89 by 2021. Notably sharp jumps occurred between 2017 and 2020, which could indicate changes in local property tax policies or substantial increases in property valuations. For investors and real estate agents, this ebb and flow in tax rates might necessitate reevaluating property portfolios and advising clients accordingly. Meanwhile, potential residents and current homeowners may want to consider these figures when budgeting for long-term property expenses. Appraisers and insurance agents, too, may find these trends invaluable in assessing risk and property value dynamics in the area.
Percentage of Farm Returns in Houghton County, MI Over the Last 10 Years
In Houghton County, Michigan, the percentage of farm tax returns has shown some minor fluctuations over the last decade, generally trending downward from 0.89% in 2012 to 0.64% in 2021. These trends might suggest a slight decrease in farming activity or the number of farms filing tax returns in the area. For those considering investing in, moving to, or developing property in Houghton County, it's essential to consider that while farming is a part of the local economy, its relative share among all tax returns is small and appears to be slightly declining. This decline may indicate a shift towards other economic activities or changes in the local agricultural landscape. Understanding these dynamics could help potential investors or residents make more informed decisions about the area's economic viability and growth opportunities.
Number of Mortgages by Occupancy Type in Houghton County, MI Over the Last 5 Years in Houghton County
The last five years in Houghton County, Michigan, show a significant rise in the number of mortgages for investment properties, while principal and second residences have seen fluctuations but remain more stable in volume. Increasing investment property mortgages suggest a growing interest from investors, likely indicating evolving market dynamics, potential for rental income, and possible appreciation value. For prospective investors or those considering moving to Houghton County, this can imply competitive opportunities in the rental market. Real estate agents and appraisers might see changing property values and demand shifts, while insurance agents could notice evolving risk profiles based on usage types. Builders and developers might discern a trend toward multi-unit or rental developments, aligning with the investment growth.
Economic Outlook
Houghton County, Michigan, has experienced a significant rise in average taxable income per tax return over nine years, increasing from $45,521.14 in 2013 to $62,440.97 in 2021. This growth could point to a thriving local economy, which may interest investors and real estate developers. Similarly, the average state and local income taxes per tax return have climbed from $4,565.45 in 2012 to $8,637.14 in 2021, suggesting rising incomes or policy shifts. Additionally, average total tax liability... Read more
Average Taxable Income per Tax Return in Houghton County, MI over the last 9 years
Houghton County, Michigan, has seen a consistent upward trend in average taxable income per tax return over the past nine years, climbing from $45,521.14 in 2013 to $62,440.97 in 2021. This remarkable growth suggests a potentially thriving local economy, with an increase of nearly $17,000 in average taxable income. The steady rise year over year could indicate promising conditions for investors, real estate developers, and those considering relocation to the area. Economic vitality like this could equally interest appraisers and insurance agents when evaluating property values and potential risk assessments.
Average State and Local Income Taxes Per Tax Return in Houghton County, MI Over the Last 10 Years
Houghton County, Michigan has seen a notable rise in average state and local income taxes per tax return over the past decade. From $4,565.45 in 2012, the figures have climbed to $8,637.14 in 2021. This upward trend could signal increasing incomes or tax policy changes, which investors or potential homeowners might need to consider when evaluating the financial landscape. This information could be valuable for anyone looking to manage their tax liabilities or understand the economic shifts within the county.
Average Total Tax Liability Per Tax Return in Houghton County, MI Over the Last 10 Years
Over the last decade, Houghton County, MI has seen a noticeable upward trajectory in average total tax liability per tax return, with figures rising from $5,978.85 in 2012 to $8,898.48 in 2021. There was substantial growth between 2016 and 2017, and a significant spike seen in 2021, suggesting possible economic changes or policy shifts affecting the area. These trends could indicate a growing economic base or increased incomes, pertinent for investors, property developers, and financial planners assessing future prospects or appraisors and insurance agents factoring in rising valuations. Prospective homebuyers and current residents would find this data essential, as it affects the overall cost of living and potential property taxes in the area.
Cost of Living in Houghton County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,174 | $1,476 | $2,100 | $1,319 | $1,281 |
| 1 adult 4 children | $1,174 | $1,205 | $1,608 | $1,319 | $1,368 |
| 2 adults 3 children | $1,174 | $1,206 | $1,822 | $1,319 | $1,060 |
| 1 adult 3 children | $1,174 | $984 | $1,329 | $1,319 | $1,123 |
| 2 adults 2 children | $826 | $987 | $1,543 | $1,143 | $878 |
| 1 adult 2 children | $826 | $737 | $1,050 | $1,143 | $793 |
| 2 adults 1 child | $826 | $780 | $1,264 | $571 | $786 |
| 1 adult 1 child | $826 | $504 | $771 | $571 | $638 |
| 2 adults | $680 | $627 | $985 | $0 | $665 |
| 1 adult | $573 | $342 | $493 | $0 | $521 |
Safety trends & Data
Houghton County, Michigan has seen fluctuating property crime trends, with larceny-theft peaking at 41.00 incidents in both 2020 and 2022. Burglary and vandalism show slightly erratic but generally lower trends compared to larceny. Meanwhile, motor vehicle theft and embezzlement remain relatively low and stable. These crime dynamics could be a consideration for investors, builders, and property buyers prioritizing lower crime rates and stable... Read more
Property Crime Trends in Houghton County, MI Over the Last 5 Years
Houghton County, Michigan has experienced varied property crime trends over the past five years. Larceny-theft seems to be the most recurrent issue, with fluctuating incidents peaking at 41.0 in both 2020 and 2022. Burglary and vandalism incidents reflect slightly erratic trends but generally seem to be lower compared to larceny. Interestingly, motor vehicle theft and embezzlement remain relatively low and stable, implying targeted but less common criminal activities. These dynamics may influence decisions for investors, builders, and property purchasers who prioritize areas with lower crime rates and stable social environments.
Demographics
Houghton County, Michigan shows a predominantly male adult population, accounting for approximately 55% of the total. The educational attainment spectrum reveals a substantial portion of residents with at least some college experience, while over 1,800 have obtained an associate's degree and more than 4,100 possess a bachelor's. Age-wise, the county has a higher concentration of residents aged 20-24, closely linked to the presence of higher education institutions. Racial diversity is relatively... Read more
Race Distribution in Houghton County, Michigan (2022)
Educational Attainment in Houghton County, Michigan (2022)
Age Distribution in Houghton County, Michigan
Citizen Population in Houghton County, Michigan (2022)
Political Trends & Data
In Houghton County, Michigan, the 2020 U.S. Presidential Election suggested a notable Republican tilt, with the GOP possibly capturing around 56% of the vote while Democrats trailed at just over 41%. Minor parties, like the Libertarians and Greens, barely made a dent with approximately 1.5% and 0.3% respectively. This trend may indicate a predominantly Republican voter base, influenced by various local and national factors, possibly reflecting broader political dynamics in the... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Houghton County, Michigan, the 2020 U.S. Presidential Election saw the Republican party likely gaining a significant lead with around 56% of the vote. Democrats seemingly followed with just over 41%. Minor parties, including Libertarians and Greens, barely registered a presence, each securing about 1.5% and 0.3% respectively. This distribution potentially highlights a strong Republican inclination within the county, although voter turnout and external factors could have also influenced these results.
56.09% of voters voted for the Republican party in the 2020 Presidential Election
41.89% of voters voted for the Democrat party in the 2020 Presidential Election
1.54% 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
0.21% of voters voted for the Other party in the 2020 Presidential Election
School Data
Houghton County, Michigan, has seen its student-to-teacher ratio decrease from 18 to 13 over the last decade, falling below the national average of 14. Smaller class sizes could imply more personalized attention for students, making the area more attractive to families and potentially boosting property values. This trend is likely a key indicator for real estate agents, investors, and developers highlighting a robust educational environment. Appraisers and insurance agents might find this data... Read more
Student-to-teacher ratio in Houghton County, Michigan over the last 10 years
Over the last decade, Houghton County, Michigan has experienced a downward trend in its student-to-teacher ratio, falling from a high of 18 students per teacher in 2014 to just 13 students per teacher in 2023. While the national average is 14 students per teacher, Houghton County is currently below that, indicating smaller class sizes. This trend might suggest more personalized attention for students, which could be an attractive factor for families considering a move to the area. Moreover, from an investment perspective, lower student-to-teacher ratios could signal a higher quality of education, potentially boosting property values. Real estate agents, investors, and developers could view this as a positive indicator of a robust and appealing educational environment. For appraisers and insurance agents, this data might also be a useful insight into the evolving dynamics of the local community.
