Monroe County Real Estate and Livability Trends
Monroe County, Michigan has seen a steady rise in average taxable income per tax return, climbing from about $54,520.65 in 2013 to around $70,260.68 in 2021. Median home values jumped from $137,200 in 2015 to $202,200 in 2022, outstripping Michigan and national trends. There's been a notable rise in residential energy tax credits and real estate taxes, which could be driven by increased property... Read more
Monroe County Market Trends
Monroe County's median home values surged from $137,200 in 2015 to $202,200 in 2022, outpacing both Michigan and national averages. Residential energy tax credits showed volatility but have increased overall, suggesting a growing interest in energy-efficient investments or changes in tax policies. Real estate taxes rose steadily, climbing from $2,567.81 in 2012 to $4,520.19 in 2021, possibly due... Read more
Median Value of Occupied Housing Units in Monroe County, Michigan Over the Last 8 Years
Monroe County's median home values have seen a significant rise over the past eight years, jumping from $137,200 in 2015 to $202,200 in 2022. This growth outpaces both Michigan's state average and the national median by a considerable margin. For those looking to invest, build, or move to Monroe County, Michigan, this trend may indicate a strong local market with appreciating property values, potentially offering a better return on investment compared to broader state or national averages.
Residential Energy Tax Credit Per Tax Return in Monroe County, MI Over the Last 9 Years
Monroe County, Michigan has seen considerable fluctuations in residential energy tax credits per tax return over the past nine years. While early years like 2013 to 2016 saw credits hover around $300.00 to $450.00, there was a dramatic spike in 2018, reaching $3382.35. More recently, between 2019 and 2021, the average credits have stabilized around $780.00 but showing a significant increase compared to earlier years. This volatility and subsequent increase could signal heightened interest in energy-efficient investments or shifts in tax policies, impacting potential property investors, homeowners, and financial planners.
Average Real Estate Taxes Per Tax Return in Monroe County, MI Over the Last 10 Years
In the last decade, Monroe County, Michigan, has seen a steady increase in average real estate taxes per tax return. Starting at $2,567.81 in 2012, the average climbed to $4,520.19 by 2021. This upward trend, particularly the noticeable jumps between 2017 and 2018, and again between 2018 and 2019, could suggest rising property values or changes in local tax policies. For potential investors, real estate agents, and those considering a move, this data might indicate a growing market but also higher ongoing costs. Appraisers and insurance agents might also find this trend useful when evaluating property values and assessing risk in the area.
Percentage of Farm Returns in Monroe County, MI Over the Last 10 Years
In Monroe County, Michigan, the percentage of farm tax returns has been dipping over the past decade, from approximately 1.42% in 2012 down to around 1.16% in 2021. These returns reflect income from farming activity and are crucial for understanding the agricultural sector's vitality in the region. For potential investors, builders, or those considering relocation, this trend suggests a possible shift away from traditional farming, pointing to either an evolving agricultural economy or changes in land use. This data might imply opportunities in diversification or redevelopment of farmland, which could be pivotal for investment decisions or property development strategies. While the decline isn't stark, it is a trend worth noting for anyone with a vested interest in Monroe County's economic and real estate landscape.
Number of Mortgages by Occupancy Type in Monroe County, MI Over the Last 5 Years in Monroe County
Monroe County, Michigan has seen a consistent dominance in mortgage counts for principal residences over the past five years, peaking at 12,956 in 2021. Investment property mortgages remained relatively steady, with a slight dip from 260 in 2018 to 224 in 2022. Second residences showed minimal activity, hovering around the 40-80 range annually. These shifts could be crucial for investors and developers considering the area's stable demand for primary homes, which potentially signifies a strong local population growth and economic stability. For insurance agents and real estate professionals, understanding these trends can aid in tailoring services and strategies to meet the predominant market needs.
Economic Outlook
Over the past nine years, Monroe County, Michigan has experienced a steady upward trend in average taxable income per tax return, growing from approximately $54,520.65 in 2013 to around $70,260.68 in 2021. This suggests a strengthening local economy and potentially higher earning potential for residents. Similarly, the county saw a notable increase in average state and local income taxes, climbing from $4,811.37 in 2012 to $7,975.32 in 2021, which may reflect rising incomes or tax policy... Read more
Average Taxable Income per Tax Return in Monroe County, MI over the last 9 years
Over the past nine years, the average taxable income per tax return in Monroe County, Michigan, has shown a steady upward trend. Starting at approximately $54,520.65 in 2013, it saw continuous growth, peaking at around $70,260.68 in 2021. This increase could potentially indicate stronger economic conditions and higher earning potential for residents, which might appeal to prospective investors, homebuyers, and real estate professionals. However, the subtle dip observed in 2020 could suggest some economic impact, likely attributable to the COVID-19 pandemic. For insurance agents and property appraisers, the consistent rise in income levels may signal a need for adjusted coverage and valuation assessments.
Average State and Local Income Taxes Per Tax Return in Monroe County, MI Over the Last 10 Years
Monroe County, Michigan has experienced a notable increase in average state and local income taxes per tax return over the last decade. Specifically, there was a steady climb from $4,811.37 in 2012 to $7,975.32 in 2021, with a significant jump between 2017 and 2018. This rising trend in taxes may reflect growing income levels or changes in tax policies and could be an important factor for potential investors or new residents to consider when evaluating the economic landscape of the county.
Average Total Tax Liability Per Tax Return in Monroe County, MI Over the Last 10 Years
Over the last decade in Monroe County, Michigan, average total tax liability per tax return exhibited a general upward trajectory, starting at $7,869.72 in 2012 and increasing to $10,031.76 by 2021. Notably, there was a spike in 2017 reaching $9,416.88, followed by a slight decline and then another significant rise in 2021. This pattern could suggest varying economic conditions or policy changes impacting residents' tax burdens, which may interest potential investors, property developers, and real estate agents looking to understand financial trends in the area.
Cost of Living in Monroe County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,367 | $1,391 | $1,406 | $1,699 | $1,271 |
| 1 adult 4 children | $1,367 | $1,136 | $1,080 | $1,699 | $1,400 |
| 2 adults 3 children | $1,367 | $1,137 | $1,218 | $1,699 | $1,064 |
| 1 adult 3 children | $1,367 | $928 | $891 | $1,699 | $1,197 |
| 2 adults 2 children | $1,072 | $931 | $1,029 | $1,482 | $916 |
| 1 adult 2 children | $1,072 | $695 | $703 | $1,482 | $928 |
| 2 adults 1 child | $1,072 | $735 | $841 | $778 | $833 |
| 1 adult 1 child | $1,072 | $475 | $515 | $778 | $719 |
| 2 adults | $817 | $591 | $653 | $0 | $628 |
| 1 adult | $717 | $322 | $326 | $0 | $505 |
Safety trends & Data
Monroe County, Michigan has seen a general decline in property crimes over the past five years, with notable drops in burglary and larceny-theft since their 2018 highs of $29.00 and $154.00, respectively. This trend, which may reflect improved community safety or policing, could impact property values and insurance premiums positively. While fraud and embezzlement have also fallen, vandalism cases have been erratic, peaking again in 2021 with $19.00 reported cases. Potential investors, real... Read more
Property Crime Trends in Monroe County, MI Over the Last 5 Years
In Monroe County, Michigan, property crimes have generally declined over the past five years. Significant decreases in burglary and larceny-theft, which saw high numbers in 2018 (29.00 and 154.00, respectively), could suggest improved community safety or effective policing strategies. Fraud and embezzlement have also trended downward, though instances of vandalism have fluctuated, reaching a peak again in 2021 with 19.00 reported cases. This data matters for potential investors, real estate agents, and residents as it may indicate a safer environment, potentially affecting property values and insurance premiums.
Demographics
Monroe County, Michigan, shows an almost equal split in its adult population between males and females. Educationally, a significant portion of adults are high school graduates, with fewer advancing to higher degrees. The age distribution indicates a broad spread, though there is perhaps a higher concentration in the middle-aged groups. Racially, the county seems majority White, with relatively smaller percentages of other racial groups. This demographic data can help in understanding the... Read more
Race Distribution in Monroe County, Michigan (2022)
Educational Attainment in Monroe County, Michigan (2022)
Age Distribution in Monroe County, Michigan
Citizen Population in Monroe County, Michigan (2022)
Political Trends & Data
Monroe County, Michigan, leaned heavily Republican in the 2020 U.S. Presidential Election, with the GOP gaining around 60% of the vote. Democrats secured nearly 38%, showing a competitive edge but trailing. Minority parties like the Libertarian and Green Party saw minimal support, each drawing about 1-2%. This indicates a clear preference for the two major parties, with a noticeable tilt towards... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Monroe County, Michigan, leaned historically Republican in the 2020 U.S. Presidential Election, with the party capturing around 60 percent of the vote. Democrats trailed but still secured nearly 38 percent, showing a competitive presence. Minority parties such as the Libertarian and Green Party garnered minimal support, each attracting approximately 1 to 2 percent of the vote. This suggests a predominantly two-party preference among voters, with a strong tilt towards Republican candidates.
60.48% of voters voted for the Republican party in the 2020 Presidential Election
37.84% of voters voted for the Democrat party in the 2020 Presidential Election
1.25% of voters voted for the Livertarian party in the 2020 Presidential Election
0.22% 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
Monroe County, Michigan, has generally seen a student-to-teacher ratio hovering around 18 to 19, higher than the national average of 14. However, bizarre spikes to 86 in 2019 and 69 in 2020 could indicate data errors or temporary shortages. Such fluctuations might impact perceived education quality, influencing families' relocation decisions and affecting property values, appraisers, and real estate agents. Higher ratios can signal overcrowded classrooms, potentially reducing the area's... Read more
Student-to-teacher ratio in Monroe County, Michigan over the last 10 years
Monroe County, Michigan, has experienced significant fluctuations in its student-to-teacher ratio over the past decade. The ratio has generally hovered around 18 to 19 students per teacher, notably higher than the national average of 14 students per teacher. However, 2019 and 2020 saw bizarre spikes to 86 and 69 respectively, which might suggest either data entry errors or severe, temporary resource shortages. These shifts could impact the quality of education, influencing decisions for families considering moving, investors evaluating property values, appraisers, and real estate agents. A high student-to-teacher ratio often indicates overcrowded classrooms, potentially affecting learning outcomes and, subsequently, the desirability of the area’s residential market.
