Leelanau County Real Estate and Livability Trends
In Leelanau County, Michigan, average taxable income soared from about $63,950.00 in 2013 to roughly $118,592.06 in 2021, indicating possible rising affluence. Home values also surged from $241,900 in 2015 to $371,200 in 2022, far outstripping state and national trends. With real estate taxes almost doubling to $9,019.47 by 2021, the local market appears to be appreciating, which could influence... Read more
Leelanau County Market Trends
Leelanau County, Michigan's median home values surged from $241,900 in 2015 to $371,200 in 2022, significantly outpacing both Michigan and national averages. Real estate taxes almost doubled over the last decade, reaching $9,019.47 by 2021, indicating an appreciating market that could affect financial planning for homeowners and investors. Energy-efficient investments peaked in 2018 with tax... Read more
Median Value of Occupied Housing Units in Leelanau County, Michigan Over the Last 8 Years
Leelanau County, Michigan experienced a robust increase in median home values over the last eight years, jumping from $241,900 in 2015 to $371,200 in 2022. This steep incline is significantly higher compared to the state of Michigan, which saw a rise from $122,400 to $201,100 in the same period, and the national median, which grew from $125,500 to $179,400. For those considering investing or moving to Leelanau County, this trend suggests a strong appreciation in property values, which could indicate a desirable market with increasing demand.
Residential Energy Tax Credit Per Tax Return in Leelanau County, MI Over the Last 9 Years
In the past nine years, there's been notable fluctuation in the average residential energy tax credit per tax return in Leelanau County, Michigan, hitting a high of $2,300.00 in 2018 but seeing varied amounts before and after. The increase in 2018 suggests a peak in energy-efficient investments during that period, though the overall trend shows a mix of peaks and troughs, indicating inconsistent investment levels year-to-year. This dynamic can offer insights for potential investors or homeowners considering energy-efficient upgrades and may be useful for appraisers and insurance agents assessing property values or risks. Real estate agents could also leverage this information to target energy-conscious buyers or sellers.
Average Real Estate Taxes Per Tax Return in Leelanau County, MI Over the Last 10 Years
In Leelanau County, Michigan, real estate taxes have seen a significant upward trend over the last decade. Starting at around $4,389.31 in 2012, they have nearly doubled to $9,019.47 by 2021. This sharp increase, particularly after 2017, signals a rapidly appreciating real estate market which may impact property valuation and homeowners' financial planning. This could be crucial for potential investors, developers, real estate agents, and insurance agents who need to consider these escalating costs when making decisions.
Percentage of Farm Returns in Leelanau County, MI Over the Last 10 Years
Farm tax returns in Leelanau County, Michigan, have been hovering around 2.90% to 3.13% over the last decade, with a slight downward trend in recent years, dropping to about 2.42% in 2021. For investors and potential property developers, understanding these returns is crucial as they reflect the economic viability and stability of the local agricultural sector. This indicator can guide financial decisions, suggesting that while the area might maintain agricultural activity, there may be slower growth or potentially dwindling profitability in farming operations recently.
Number of Mortgages by Occupancy Type in Leelanau County, MI Over the Last 5 Years in Leelanau County
Leelanau County, Michigan has seen significant fluctuations in mortgage counts across various occupancy types over the last five years. Principal residence mortgages have typically dominated the market, with their peak in 2020 and a notable decline by 2022. Second residences witnessed a similar spike in 2020, but also saw reductions in subsequent years, suggesting potential volatility in vacation home investments. Investment property mortgages remained relatively stable, though they comprised a small portion of the total. Changes in occupancy type could signal shifts in buyer priorities, potential economic impacts, and market demand, which may affect everything from property valuation to risk assessment for insurance agents and real estate opportunities.
Economic Outlook
In Leelanau County, Michigan, the average taxable income per tax return has surged from approximately $63,950.00 in 2013 to about $118,592.06 in 2021, potentially highlighting rising affluence. Concurrently, state and local income taxes have escalated from around $5,930.79 in 2012 to roughly $16,799.04 in 2021, hinting at higher incomes or evolving policies. The steady increase in total tax liability, reaching $23,640.64 in 2021, may signal economic development, pointing to a possibly lucrative... Read more
Average Taxable Income per Tax Return in Leelanau County, MI over the last 9 years
Over the last nine years, Leelanau County, Michigan, has experienced notable growth in average taxable income per tax return, rising from approximately $63,950.00 in 2013 to around $118,592.06 by 2021. This upward trend could suggest increasing wealth in the area, which may be appealing to potential investors and real estate developers. For those in the business of property appraisal, insurance, or real estate, this data implies a potentially lucrative market with rising property values. Residents or those looking to move to Leelanau County might view this as indicative of an economically strengthening community.
Average State and Local Income Taxes Per Tax Return in Leelanau County, MI Over the Last 10 Years
In Leelanau County, Michigan, average state and local income taxes per tax return have shown a noticeable upward trend over the past decade, with figures rising from approximately $5,930.79 in 2012 to around $16,799.04 in 2021. This increase could be indicative of higher incomes, changes in tax policies, or a combination of both, reflecting a shifting economic landscape. For potential investors, property builders, and residents, understanding this trend can provide valuable context around fiscal expectations and financial planning in the county.
Average Total Tax Liability Per Tax Return in Leelanau County, MI Over the Last 10 Years
Over the past decade, Leelanau County, Michigan has seen a noticeable rise in average total tax liability per tax return. Starting at $12,419.63 in 2012, it has steadily increased, peaking at $23,640.64 in 2021. This trend suggests growing income levels or changes in tax policies that may impact financial planning for potential investors, home buyers, and businesses. Notably, the significant jumps in recent years could indicate economic development or demographic shifts, making it a potentially attractive area for real estate and investment opportunities.
Cost of Living in Leelanau County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,336 | $3,173 | $1,603 | $1,674 | $2,265 |
| 1 adult 4 children | $1,336 | $2,591 | $1,224 | $1,674 | $2,274 |
| 2 adults 3 children | $1,336 | $2,592 | $1,392 | $1,674 | $1,899 |
| 1 adult 3 children | $1,336 | $2,116 | $1,013 | $1,674 | $1,945 |
| 2 adults 2 children | $1,057 | $2,122 | $1,181 | $1,451 | $1,519 |
| 1 adult 2 children | $1,057 | $1,585 | $802 | $1,451 | $1,484 |
| 2 adults 1 child | $1,057 | $1,677 | $970 | $725 | $1,206 |
| 1 adult 1 child | $1,057 | $1,083 | $591 | $725 | $1,050 |
| 2 adults | $822 | $1,347 | $759 | $0 | $962 |
| 1 adult | $731 | $735 | $379 | $0 | $704 |
Safety trends & Data
Property crime trends in Leelanau County, Michigan reveal moderate fluctuations over the last five years, with Larceny-Theft consistently seeing higher incidents, peaking at 8.00 cases in 2020. Burglary incidents were recorded at 2.00 in 2018 and seem to have tapered off recently. Embezzlement, fraud, and motor vehicle theft show sporadic activity, with embezzlement spiking at 2.00 in 2020. For investors and real estate agents, these insights may suggest a relatively low property crime rate,... Read more
Property Crime Trends in Leelanau County, MI Over the Last 5 Years
Property crime trends in Leelanau County, Michigan reveal moderate fluctuations over the last five years, with notable variations in specific crime categories. Larceny-Theft has consistently seen higher incidents compared to other property crimes, peaking at 8.0 cases in 2020. Burglary incidents, previously recorded at 2.0 in 2018, appear to be less common in more recent years. Embezzlement, fraud, and motor vehicle theft display sporadic activity, with occasional spikes such as embezzlement reaching 2.0 in 2020. For investors, property developers, and real estate agents, these insights suggest a relatively low property crime rate, which may enhance the appeal of the county for residential and commercial investment.
Demographics
Leelanau County, Michigan's adult population is closely split between males and females, with a slight female majority. Noteworthy is the higher educational attainment, as bachelor’s and graduate degrees make up a significant portion of the population. The area has an aging demographic, reflected in a substantial number of residents aged 55 and older. Racial diversity appears limited, with the overwhelming majority identifying as White. These trends could imply a need for targeted services... Read more
Race Distribution in Leelanau County, Michigan (2022)
Educational Attainment in Leelanau County, Michigan (2022)
Age Distribution in Leelanau County, Michigan
Citizen Population in Leelanau County, Michigan (2022)
Political Trends & Data
In Leelanau County, Michigan, the 2020 U.S. Presidential Election revealed a slim advantage for the Democratic Party, securing roughly 52% of the vote, while Republicans received around 47%. Third parties made hardly any impact, each capturing likely less than 1% of the vote, implying that local political dynamics are mainly dominated by the two major parties. This nuanced shift toward Democrats could hint at evolving voter preferences in the... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Leelanau County, Michigan, the 2020 U.S. Presidential Election showed a slight edge for the Democratic Party, potentially reflecting a subtle shift in local political dynamics. Democrats garnered approximately 52% of the vote, compared to around 47% for Republicans. Third parties like the Libertarian and Green parties had minimal impacts, each likely receiving less than 1% of the vote. This could suggest a community that primarily swings between the major two parties, with minor parties having limited influence.
46.84% of voters voted for the Republican party in the 2020 Presidential Election
52.04% of voters voted for the Democrat party in the 2020 Presidential Election
0.79% of voters voted for the Livertarian party in the 2020 Presidential Election
0.24% of voters voted for the Green party in the 2020 Presidential Election
0.09% of voters voted for the Other party in the 2020 Presidential Election
School Data
Leelanau County, Michigan has seen its student-to-teacher ratio peak at over 21 in 2018 and then gradually decline to around 15 in 2023, coming in close to the current national average of 14 students per teacher. A lower student-to-teacher ratio could suggest improving educational resources and higher school quality, which might enhance property values. Real estate professionals and appraisers might view these educational trends as indicators of community investment, potentially impacting risk... Read more
Student-to-teacher ratio in Leelanau County, Michigan over the last 10 years
Leelanau County, Michigan has seen fluctuations in its student-to-teacher ratio over the past decade, peaking at over 21 in 2018, before gradually declining to around 15 in 2023. This trend is intriguing considering the current national average of 14 students per teacher in the United States. For potential investors, new residents, or real estate agents, a lower student-to-teacher ratio might indicate improving educational resources and potentially higher school quality, which can enhance property values. Appraisers and insurance agents might also view these trends as a marker of community investment in education, affecting risk assessments and property valuations.
