Keweenaw County Real Estate and Livability Trends
Keweenaw County, Michigan's real estate market has shown a notable increase in median home values, jumping from $95,800 in 2017 to $155,900 in 2022, outpacing both state and national growth rates. Such rapid appreciation likely indicates strong local demand and unique market dynamics, making it an interesting spot for investors. Additionally, fluctuating energy tax credits and varied mortgage... Read more
Keweenaw County Market Trends
Keweenaw County's median home values have climbed from $95,800 in 2017 to $155,900 in 2022, outpacing both Michigan and national growth rates. This rapid rise reflects local demand and unique market factors, making it intriguing for investors and homeowners seeking more variable markets. Energy tax credits have also seen sharp fluctuations, indicating dynamic investments in residential energy... Read more
Median Value of Occupied Housing Units in Keweenaw County, Michigan Over the Last 8 Years
Keweenaw County's median home values have shown a dynamic trend over the last eight years, with some fluctuations more significant than those seen at the state and national levels. From a low of $95,800 in 2017, values climbed sharply to $155,900 in 2022, representing a substantial growth that outpaced both Michigan's rise from $122,400 to $201,100 and the national increase from $125,500 to $179,400. This volatile yet upward trajectory may reflect a unique blend of local demand and market factors, making it an intriguing area for potential investors and homeowners who might be looking for opportunities in more variable markets compared to the relatively steadier state and national scenes.
Residential Energy Tax Credit Per Tax Return in Keweenaw County, MI Over the Last 5 Years
Over the last five years, Keweenaw County, Michigan has shown notable volatility in the average residential energy tax credit per tax return. In 2013, the average credit started at around $190.91, then saw a significant increase to $233.33 in 2014 and a dramatic leap to $500.00 in 2015. After a dip to $200.00 in 2016, it rose again to $400.00 in 2020. This trend reflects a dynamic and shifting investment in residential energy efficiency, which may be appealing to potential homeowners, real estate investors, and property developers focused on sustainability.
Average Real Estate Taxes Per Tax Return in Keweenaw County, MI Over the Last 10 Years
Over the past decade in Keweenaw County, Michigan, real estate taxes per tax return have seen a noticeable upward trend, escalating from $3,155.00 in 2012 to a peak of $6,900.00 in 2020 before dipping slightly to $4,975.00 in 2021. This volatility, especially the sharp increase observed in 2018, suggests possible fluctuations in property values or changes in tax policies that could affect long-term planning for investors and homeowners. Real estate agents, appraisers, and insurance agents might find these figures relevant for forecasting costs and advising clients accurately.
Number of Mortgages by Occupancy Type in Keweenaw County, MI Over the Last 5 Years in Keweenaw County
In Keweenaw County, Michigan, the number of mortgages for principal residences has generally shown an upward trend over the last five years, peaking in 2021. There's been fluctuating interest in second residences with the highest count in 2020, while investment properties have had relatively low and fluctuating activity. Changes in occupancy type can indicate shifts in the local economy, housing priorities, and leisure investments; understanding these trends is crucial for investors, appraisers, real estate agents, and individuals considering relocations or property investments. Normalizing mortgage counts by occupancy type highlights market dynamics and risk profiles key for strategic decision-making.
Economic Outlook
Keweenaw County, Michigan has experienced a noticeable upward trend in average taxable income per tax return, rising from $45,974.76 in 2013 to $66,169.37 in 2021. This gradual increase suggests improving economic stability and potentially higher earning potential, making the area appealing for investors and new residents. Moreover, despite some fluctuations, average state and local income taxes per tax return have generally increased, peaking at $7,980.00 in 2020, suggesting rising government... Read more
Average Taxable Income per Tax Return in Keweenaw County, MI over the last 9 years
Over the last nine years, Keweenaw County, Michigan has shown a noticeable upward trend in average taxable income per tax return. From $45,974.76 in 2013 to $66,169.37 in 2021, the data suggests a gradual but significant increase. This could be indicative of rising economic stability and higher earning potential in the region, making it potentially attractive for investors and new residents. For real estate agents and appraisers, this consistent growth in taxable income might hint at a robust market and increasing property values. Builders and insurance agents may also find this trend promising as it suggests an expanding economic base that could support infrastructure and development projects.
Average State and Local Income Taxes Per Tax Return in Keweenaw County, MI Over the Last 10 Years
Keweenaw County, Michigan has seen notable fluctuations in average state and local income taxes per tax return over the last decade. Starting at $4,938.46 in 2012, there was a dip in 2013, followed by a general upward trend peaking at $7,980.00 in 2020. This trend suggests a possible increase in local government expenditures or income levels, making it a potential area of interest for investors and residents evaluating the economic trajectory of the region. The spike from 2018 onwards might be indicative of broader economic factors affecting the county, providing important context for those looking to invest or move to Keweenaw County.
Average Total Tax Liability Per Tax Return in Keweenaw County, MI Over the Last 10 Years
Over the past decade, average total tax liability per tax return in Keweenaw County, Michigan has shown a notable upward trend from around $6,362.50 in 2012 to approximately $8,953.49 in 2021. This could signal improved economic conditions and higher overall earnings, potentially increasing the appeal of the area for investors, real estate agents, and insurance agents due to the greater financial stability implied. While there have been fluctuations, such as a dip in 2014, the overall increase suggests steady growth which can be advantageous for those considering property investments or relocation to the county.
Cost of Living in Keweenaw County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,169 | $1,476 | $2,100 | $1,187 | $1,387 |
| 1 adult 4 children | $1,169 | $1,205 | $1,608 | $1,187 | $1,492 |
| 2 adults 3 children | $1,169 | $1,206 | $1,822 | $1,187 | $1,154 |
| 1 adult 3 children | $1,169 | $984 | $1,329 | $1,187 | $1,231 |
| 2 adults 2 children | $826 | $987 | $1,543 | $1,029 | $946 |
| 1 adult 2 children | $826 | $737 | $1,050 | $1,029 | $874 |
| 2 adults 1 child | $826 | $780 | $1,264 | $514 | $855 |
| 1 adult 1 child | $826 | $504 | $771 | $514 | $697 |
| 2 adults | $653 | $627 | $985 | $0 | $724 |
| 1 adult | $571 | $342 | $493 | $0 | $567 |
Safety trends & Data
Keweenaw County, Michigan has experienced some fluctuations in property crime over the past three years. There's been a notable decline in larceny-theft incidents, from 3.00 in 2020 to 2.00 in 2022, suggesting possibly better security or shifts in crime patterns. However, a spike in vandalism to 4.00 in 2021 might raise concerns for those assessing property... Read more
Property Crime Trends in Keweenaw County, MI Over the Last 3 Years
Keweenaw County, Michigan has seen relatively low levels of property crime over the past three years, with larceny-theft and vandalism being the most commonly reported offenses. The notable drop in larceny-theft incidents from 3.00 in 2020 to 2.00 in 2022, and a singular burglary reported in 2021 might suggest improving security or changing crime patterns. However, the spike in vandalism to 4.00 in 2021 could be a point of concern for those evaluating property risk.
Demographics
Keweenaw County, Michigan shows an intriguing range of demographic insights. Males slightly outnumber females, creating a near-balanced gender distribution. Educational attainment is probably strong with close to half of the population having some college experience or higher degrees. Age distribution trends toward an aging population, with a noticeable percentage aged 55 and over. Racial diversity is extremely limited, with the county being predominantly White, which could impact cultural... Read more
Race Distribution in Keweenaw County, Michigan (2022)
Educational Attainment in Keweenaw County, Michigan (2022)
Age Distribution in Keweenaw County, Michigan
Citizen Population in Keweenaw County, Michigan (2022)
Political Trends & Data
Keweenaw County, Michigan leaned Republican in the 2020 U.S. Presidential Election with around 55% of the vote, while Democrats received about 43%. Minor parties like the Libertarians and Greens captured roughly 1% and 0.25% of the electorate, respectively. This could imply a polarized political landscape but also hints at some diversity in political... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In the 2020 U.S. Presidential Election, Keweenaw County, Michigan, seemed to lean more Republican, as they garnered around 55% of the vote. Democrats received about 43%, with minor parties like the Libertarians and the Greens capturing a small fraction of the electorate, roughly 1% and 0.25% respectively. The minimal support for other parties might suggest a more polarized political landscape, though the presence of any percentage indicates at least some level of diverse political thought.
55.36% of voters voted for the Republican party in the 2020 Presidential Election
43.16% of voters voted for the Democrat party in the 2020 Presidential Election
1.09% 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
0.13% of voters voted for the Other party in the 2020 Presidential Election
School Data
Keweenaw County, Michigan, has experienced notable shifts in student-to-teacher ratios over the past decade. Dropping from around 10 in 2014 to a low of 8 in 2016, the ratio climbed to approximately 12 in 2022 before settling back to about 10 in 2023. With class sizes consistently smaller than the national average of 14 students per teacher, the area could be more appealing to families prioritizing personalized education. This educational trend may also impact local property values and overall... Read more
Student-to-teacher ratio in Keweenaw County, Michigan over the last 10 years
Keweenaw County, Michigan has seen significant fluctuations in its student-to-teacher ratio over the past decade. Starting at around 10 in 2014, it dropped to a low of 8 in 2016 and then progressively climbed back up to reach a peak of approximately 12 in 2022. As of 2023, the ratio stands at about 10. Compared to the national average of 14 students per teacher, Keweenaw County generally maintains smaller class sizes, which could be quite appealing to those prioritizing personalized education and investment in educational quality. This trend might also influence property values and the attractiveness of the area for families considering relocation.
