Kent County Real Estate and Livability Trends
In Kent County, Michigan, average taxable incomes surged from $59,136.51 in 2013 to $90,563.80 in 2021, indicating rising economic prosperity that may boost property demand. Median home values skyrocketed from $139,300 in 2015 to $242,200 in 2022, significantly outpacing both state and national growth. Real estate taxes doubled from $3,477.67 in 2012 to $7,126.60 in 2021, reflecting heightened... Read more
Kent County Market Trends
Kent County, Michigan, has seen median home values rocket from $139,300 in 2015 to $242,200 in 2022, outpacing state and national growth. Meanwhile, the area experienced a major spike in residential energy tax credits to $2,227.12 in 2018, possibly indicating aggressive incentives for energy-efficient improvements. Real estate taxes have soared as well, doubling from $3,477.67 in 2012 to... Read more
Median Value of Occupied Housing Units in Kent County, Michigan Over the Last 8 Years
Over the last eight years, median home values in Kent County, Michigan have seen a dramatic rise from $139,300 in 2015 to $242,200 in 2022. This growth appears to outpace both Michigan, where values increased from $122,400 to $201,100, and the national average, growing from $125,500 to $179,400. For potential investors or residents, this trend might suggest a robust and competitive housing market in Kent County that could continue to appreciate, making it an attractive option for both investing and living.
Residential Energy Tax Credit Per Tax Return in Kent County, MI Over the Last 9 Years
Kent County, Michigan has seen significant fluctuations in residential energy tax credit per tax return over the past nine years. While the average credit mostly hovered between $262.36 and $660.10, there was a notable surge to $2,227.12 in 2018. This spike may suggest an extraordinary incentive or substantial uptake in energy-efficient improvements during that year. Such volatility could be a crucial factor for investors and real estate agents considering the hidden economic benefits of property improvements. Insurance agents and appraisers might also find these trends useful for assessing the value of energy-efficient properties, while potential new residents could be attracted by the area's apparent support for sustainable living.
Average Real Estate Taxes Per Tax Return in Kent County, MI Over the Last 10 Years
Over the past decade, real estate taxes in Kent County, Michigan have experienced a steady increase, with particularly sharp rises beginning in 2017. Starting at an average of approximately $3,477.67 per tax return in 2012, taxes have more than doubled by 2021, rising to an average of $7,126.60. The steepest climb was observed from 2017 to 2018, jumping from around $4,441.08 to $6,427.07. This trend may suggest escalating property values and tax assessments, indicating a robust real estate market that stakeholders including investors, appraisers, and real estate agents might find noteworthy.
Percentage of Farm Returns in Kent County, MI Over the Last 10 Years
Kent County, Michigan has seen a gradual decline in the percentage of farm tax returns over the last decade. Starting at approximately 0.34% in 2012 and dropping to around 0.28% in 2021, the trend indicates a decrease in agricultural activity. For potential investors, property developers, or those interested in the rural economy, this slight yet consistent downward trend could signal a shift towards other types of land use or changes in the agricultural sector's viability within the region. Understanding these trends is crucial for making informed decisions about land investments and development projects in the county.
Number of Mortgages by Occupancy Type in Kent County, MI Over the Last 5 Years in Kent County
Kent County, Michigan's mortgage patterns reveal notable fluctuations over the past five years. Principal residences dominate the mortgage count, with a significant surge in 2020 to 53,289, likely reflecting the low-interest rates and pandemic-driven housing market boom. Investment properties show a gradual increase, peaking at 2,460 in 2021, suggesting growing interest in rental and flipping markets. Second residences remain the smallest segment, with slight variations, indicating stable but limited demand for vacation or seasonal homes. These shifts are critical for potential investors evaluating market entry points, developers anticipating housing needs, appraisers assessing property values, and insurance agents understanding risk profiles. For those in real estate, staying aligned with changing occupancy types can inform targeted strategies and client advisement.
Economic Outlook
In Kent County, Michigan, average taxable incomes per tax return saw an upward trend from $59,136.51 in 2013 to $90,563.80 in 2021, hinting at rising economic prosperity that could escalate property demand. Simultaneously, average state and local income taxes per tax return surged from $6,066.03 in 2012 to $17,062.98 in 2021, notably doubling during 2018 and 2019. This reflects possible economic shifts or increased funding needs, crucial for evaluating living costs. Further, the average total... Read more
Average Taxable Income per Tax Return in Kent County, MI over the last 9 years
Kent County, Michigan has seen a generally upward trend in average taxable income per tax return over the past nine years, beginning at around $59,136.51 in 2013 and reaching approximately $90,563.80 in 2021. This suggests a growing economic prosperity which could interest potential investors and real estate agents due to a potentially higher demand for properties. The notable jumps in 2018 and 2020 indicate periods of significant income growth, useful for appraisers and insurance agents assessing property values and risks. Overall, this data may reflect a promising locale for both business opportunities and residential stability.
Average State and Local Income Taxes Per Tax Return in Kent County, MI Over the Last 10 Years
Over the last decade, Kent County, Michigan has seen a significant rise in average state and local income taxes per tax return, moving from around $6,066.03 in 2012 to $17,062.98 in 2021. Notable jumps are observed in 2018 and 2019, where taxes nearly doubled compared to previous years. This trend may imply increased local government funding needs or economic shifts affecting taxpayers. Those eyeing investments or property in Kent County should be mindful of these progressive tax increments, as they might influence living costs and business operations.
Average Total Tax Liability Per Tax Return in Kent County, MI Over the Last 10 Years
The average total tax liability per tax return in Kent County, Michigan has generally increased over the past decade. In 2012, the average was approximately $11,107.85, and by 2021, it rose to about $16,393.07. This trend could suggest growing incomes or changing tax policies impacting residents. Significant jumps were seen from 2019 to 2020 and especially into 2021, indicating potential economic shifts or policy changes worth noting for stakeholders such as investors, property developers, and real estate agents.
Cost of Living in Kent County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,726 | $1,496 | $1,555 | $2,057 | $1,654 |
| 1 adult 4 children | $1,726 | $1,222 | $1,195 | $2,057 | $1,784 |
| 2 adults 3 children | $1,726 | $1,222 | $1,346 | $2,057 | $1,411 |
| 1 adult 3 children | $1,726 | $998 | $986 | $2,057 | $1,583 |
| 2 adults 2 children | $1,326 | $1,000 | $1,138 | $1,795 | $1,128 |
| 1 adult 2 children | $1,326 | $747 | $778 | $1,795 | $1,202 |
| 2 adults 1 child | $1,326 | $791 | $929 | $942 | $981 |
| 1 adult 1 child | $1,326 | $511 | $569 | $942 | $887 |
| 2 adults | $1,101 | $635 | $720 | $0 | $738 |
| 1 adult | $1,044 | $346 | $360 | $0 | $591 |
Safety trends & Data
Property crime trends in Kent County, Michigan show a mixed picture over the past five years. Larceny-theft saw a notable decrease from 2,151.00 incidents in 2018 to 1,017.00 in 2022, and burglary dropped from 178.00 cases to 110.00 in the same period. However, motor vehicle theft spiked from 91.00 in 2018 to a peak of 237.00 in 2020, before settling back to 127.00 in 2022. This variance requires cautious consideration from potential investors and real estate... Read more
Property Crime Trends in Kent County, MI Over the Last 5 Years
Property crime trends in Kent County, Michigan reveal some noteworthy fluctuations over the past five years. Larceny-theft consistently led the pack but saw a marked decrease from 2,151.00 incidents in 2018 to 1,017.00 in 2022. Burglary rates also dipped, with 178.00 cases in 2018 dropping to 110.00 by 2022. Meanwhile, motor vehicle theft went from 91.00 in 2018 up to a peak of 237.00 in 2020, before declining again to 127.00 in 2022. These patterns suggest a mixed bag for potential investors and real estate agents; while some types of property crime have decreased, others have surged at various points, requiring cautious consideration.
Demographics
Kent County, Michigan shows a balanced adult gender distribution, with a slight female majority. A burgeoning segment of the population has obtained at least a high school diploma, reflecting in the high enrollment in higher education—the highest being bachelor's degree holders. The area sees a substantial young adult demographic, particularly between 25 to 34 years. Racially, the population is predominantly White, but there is a significant presence of Black or African American residents and... Read more
Race Distribution in Kent County, Michigan (2022)
Educational Attainment in Kent County, Michigan (2022)
Age Distribution in Kent County, Michigan
Citizen Population in Kent County, Michigan (2022)
Political Trends & Data
Kent County, Michigan, where the Democratic party purportedly garnered 52% of the vote in the 2020 U.S. Presidential Election, while Republicans secured around 46%, could reflect shifting political dynamics in this competitive area. Minor parties captured just over 1%, hinting at growing yet modest third-party influence. This political landscape might be signaling an evolving voter base or emerging trends in local... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Kent County, Michigan, the Democratic party seemingly secured a lead with approximately 52% of the vote in the 2020 U.S. Presidential Election, while Republican support trailed at around 46%. Minor parties like the Libertarian and Green parties drew just over 1% and below 1% respectively, suggesting limited but noteworthy third-party engagement. This distribution could indicate a shift or volatility in voter preferences within a historically competitive region.
45.91% of voters voted for the Republican party in the 2020 Presidential Election
52.05% of voters voted for the Democrat party in the 2020 Presidential Election
1.52% 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
0.26% of voters voted for the Other party in the 2020 Presidential Election
School Data
Kent County, Michigan's student-to-teacher ratio has consistently been above the national average, fluctuating between 17 and 20 students per teacher over the past decade. This could influence classroom dynamics and affect teaching quality and individual attention. For investors and potential residents, especially families prioritizing education, this data might be a key point of consideration, potentially impacting property values and local... Read more
Student-to-teacher ratio in Kent County, Michigan over the last 10 years
Over the last decade, Kent County, Michigan has seen its student-to-teacher ratio fluctuate between 17 and 20 students per teacher, consistently remaining above the national average of 14 students per teacher. This higher ratio might affect classroom dynamics, potentially influencing teaching quality and individual student attention. For investors, real estate agents, and potential residents, this could be a factor in assessing the overall attractiveness of the area, especially for families prioritizing education. Appraisers and insurance agents might also find this data relevant as it could indirectly impact property values and local amenities.
