Menominee County Real Estate and Livability Trends
Menominee County, Michigan has shown encouraging economic indicators, with average taxable incomes jumping from $43,833.09 in 2013 to $56,392.38 in 2021, hinting at potential economic stability which could spur real estate investments. Median home values have climbed to $132,200 in 2022 from $93,400 in 2015, tracking closely with statewide trends. Real estate taxes surged to $3,952.63 by 2021,... Read more
Menominee County Market Trends
Menominee County, Michigan has seen a bump in median home values from $93,400 in 2015 to $132,200 in 2022, aligning with state growth trends. Residential energy tax credits spiked in 2019 to $441.18, hinting at increased homeowner focus on energy efficiency. Real estate taxes rose substantially, hitting $3,952.63 by 2021, signaling potential impacts on financial planning due to rising property... Read more
Median Value of Occupied Housing Units in Menominee County, Michigan Over the Last 8 Years
Menominee County, Michigan has seen significant appreciation in median home values over the past eight years, with an increase from $93,400 in 2015 to $132,200 in 2022. This local growth parallels broader state-level trends in Michigan, where values have risen from $122,400 in 2015 to $201,100 in 2022, outpacing both state and national averages at various points. Nationally, home values have also climbed but more steadily, reaching $179,400 by 2022. This suggests that Menominee County offers potentially lucrative opportunities for investors seeking growth within a more localized market context. Additionally, those looking to move to Menominee County might find relatively accessible options compared to the broader state and national trends.
Residential Energy Tax Credit Per Tax Return in Menominee County, MI Over the Last 8 Years
Menominee County, Michigan has seen notable fluctuations in the average Residential Energy Tax Credit per tax return over the past eight years. After a dip to $237.14 in 2014, credits peaked to $441.18 in 2019, indicating heightened investment in energy efficiency that year. While there was a brief drop to $284.21 in 2020, the amount rebounded to $395.00 in 2021. This data might reflect increased homeowner awareness and adoption of energy-saving measures, which could be enticing for investors, real estate agents, and anyone considering moving to the area. Understanding these trends may offer insight into the community's commitment to sustainable living, potentially impacting future property valuations and insurance considerations.
Average Real Estate Taxes Per Tax Return in Menominee County, MI Over the Last 10 Years
Menominee County, Michigan has seen a notable increase in real estate taxes per tax return over the past decade, with values starting at approximately $2,340.44 in 2012 and climbing to around $3,952.63 by 2021. The most dramatic rise occurred between 2017 and 2020, where taxes jumped from about $2,971.79 to $4,555.00. This trend could suggest growing property values or changes in tax policies, information that may be particularly relevant for prospective investors, new residents, and real estate professionals who need to factor in higher tax liabilities in their financial planning.
Percentage of Farm Returns in Menominee County, MI Over the Last 10 Years
Over the last decade, the percentage of farm tax returns in Menominee County, Michigan has generally declined. In 2012, the percentage stood at approximately 2.78% and steadily decreased to about 2.10% by 2021, dipping as low as 1.96% in 2020. Here's the thing: Farm tax returns reflect the proportion of taxpayers reporting farm income, which can offer interesting insights into the agricultural economic health of the area. For investors or potential property builders, this trend might signal shifts in land use or the viability of agricultural ventures, suggesting a possible need for diversification or innovation in local farming practices.
Number of Mortgages by Occupancy Type in Menominee County, MI Over the Last 5 Years in Menominee County
Over the last five years in Menominee County, Michigan, the majority of mortgages have consistently been for principal residences, with a marked peak in 2020 at 773. Meanwhile, the numbers for second residences and investment properties have remained comparatively low and steady. These fluctuations may suggest varying affordability and desirability factors impacting homeowner occupancy in the region. For potential investors and builders, understanding these trends is crucial, as they reflect underlying economic and demographic shifts that could influence property values and development opportunities. Moreover, appraisers and insurance agents might find this data valuable for risk assessments and valuation accuracy.
Economic Outlook
Menominee County, Michigan has experienced a notable rise in average taxable income per tax return from $43,833.09 in 2013 to $56,392.38 in 2021. This trend suggests potential economic stability, which may interest investors and real estate professionals. Additionally, average state and local income taxes have nearly doubled over the decade, peaking at $9,444.44 in 2020, potentially reflecting rising incomes or tax rates. Average total tax liability also saw an uptick, hitting a high of... Read more
Average Taxable Income per Tax Return in Menominee County, MI over the last 9 years
Menominee County, Michigan has seen a notable rise in average taxable income per tax return over the past nine years, moving from $43,833.09 in 2013 to $56,392.38 in 2021. While growth wasn't entirely steady year-over-year, notable jumps in specific years suggest potential external economic influences or local trends that affected incomes. This upward trend could imply increasing economic stability or growth opportunities, making it an area of interest for investors, property developers, and real estate professionals. Appraisers and insurance agents might also find these trends useful when assessing property values and risks.
Average State and Local Income Taxes Per Tax Return in Menominee County, MI Over the Last 10 Years
Menominee County, Michigan has seen a significant upward trend in average state and local income taxes per tax return over the past decade. Starting from $4,818.52 in 2012, the taxes peaked at $9,444.44 in 2020 before settling to $7,829.41 in 2021. This rising trend suggests potentially increasing incomes or tax rates, making it an essential consideration for potential residents, investors, and developers evaluating the area's economic landscape.
Average Total Tax Liability Per Tax Return in Menominee County, MI Over the Last 10 Years
Menominee County, Michigan, has seen fluctuating trends in average total tax liability per tax return over the past decade, with figures ranging from around $6,072.34 in 2012 to approximately $7,612.08 in 2021. The notable increase in 2021 marks the highest point in this period, suggesting potential changes in the local economy or tax policies. For investors, real estate agents, and insurance appraisers, this data could reflect underlying economic conditions, possibly impacting property values and investment opportunities.
Cost of Living in Menominee County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,163 | $1,391 | $2,100 | $1,043 | $1,181 |
| 1 adult 4 children | $1,163 | $1,136 | $1,608 | $1,043 | $1,259 |
| 2 adults 3 children | $1,163 | $1,137 | $1,822 | $1,043 | $971 |
| 1 adult 3 children | $1,163 | $928 | $1,329 | $1,043 | $1,022 |
| 2 adults 2 children | $826 | $931 | $1,543 | $904 | $826 |
| 1 adult 2 children | $826 | $695 | $1,050 | $904 | $725 |
| 2 adults 1 child | $826 | $735 | $1,264 | $452 | $764 |
| 1 adult 1 child | $826 | $475 | $771 | $452 | $618 |
| 2 adults | $688 | $591 | $985 | $0 | $676 |
| 1 adult | $624 | $322 | $493 | $0 | $542 |
Safety trends & Data
Menominee County, Michigan's property crime data over the past five years, particularly those related to larceny-theft and burglary, might influence real estate decisions. Larceny-theft had 23 to 34 cases annually, while burglary dropped from 11 cases in 2018 to 7 in 2021 and 2022. Such statistics may be crucial for investors, residents, and insurance agents evaluating risk factors for property investments in the... Read more
Property Crime Trends in Menominee County, MI Over the Last 5 Years
Menominee County, Michigan has shown some fluctuations in property crime over the last five years. Notably, larceny-theft has consistently remained the highest-reported crime each year, with occurrences ranging from 23 to 34 cases annually. Meanwhile, burglary and vandalism also feature prominently, though burglary has seen a downward trend from 11 cases in 2018 to a more stable 7 cases in both 2021 and 2022. Instances of motor vehicle theft and embezzlement are relatively low but present. These statistics could be essential for real estate investors, residents, and insurance agents who are assessing the risk factors while considering property investments or purchases in the area.
Demographics
Menominee County, Michigan, shows an adult population with a slightly higher number of males compared to females. Education levels reveal a predominantly high school-educated populace, with few reaching graduate or professional degrees. The age distribution skews towards middle-aged and senior individuals, highlighting a significant proportion of residents over 55 years. Racially, the county appears to be overwhelmingly White, with minimal representation from other races. These demographic... Read more
Race Distribution in Menominee County, Michigan (2022)
Educational Attainment in Menominee County, Michigan (2022)
Age Distribution in Menominee County, Michigan
Citizen Population in Menominee County, Michigan (2022)
Political Trends & Data
Menominee County, Michigan, tends to lean Republican with about 64.00% of votes possibly flowing towards GOP candidates, while Democratic support might hover around 34.00%. Libertarian and other minor parties seem to capture less than 2.00% each, hinting at their minimal influence on election... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Menominee County, Michigan shows a leaning towards Republican preferences with around 64 percent of votes possibly going to the GOP, whereas Democrats might have garnered around 34 percent. Libertarians and other parties appear to capture less than 2 percent of the vote each, suggesting a limited impact on the overall electoral outcome.
64.38% of voters voted for the Republican party in the 2020 Presidential Election
34.23% of voters voted for the Democrat party in the 2020 Presidential Election
0.99% of voters voted for the Livertarian party in the 2020 Presidential Election
0.19% of voters voted for the Green party in the 2020 Presidential Election
0.20% of voters voted for the Other party in the 2020 Presidential Election
School Data
Menominee County, Michigan has experienced a student-to-teacher ratio consistently above the national average over the past decade, hitting peaks of 18 students per teacher. This trend suggests larger class sizes, which could impact educational quality and personal attention for students. These figures might influence family decisions regarding relocation and could be relevant for market valuations by real estate agents. Additionally, property developers and insurance agents may find these... Read more
Student-to-teacher ratio in Menominee County, Michigan over the last 10 years
Over a span of ten years, Menominee County, Michigan's student-to-teacher ratio has generally trended above the national average of 14 students per teacher, peaking at 18 students per teacher in several recent years. This higher ratio could indicate larger class sizes, which might affect educational quality and individual attention for students. For investors and those looking to move to the area, these figures could influence decisions around family life and educational opportunities. Appraisers and real estate agents may find these trends relevant for market valuations, while insurance agents and property developers might consider them when assessing community needs and growth potential.
