Ontonagon County Real Estate and Livability Trends
Ontonagon County, Michigan has seen a remarkable rise in median home values, jumping from $68,900 in 2015 to $89,700 in 2022, outperforming the state's 30% increase. The growing demand for vacation homes, alongside fluctuating real estate taxes peaking at nearly $4,683.33 in 2019 and dropping to $3,460.00 by 2021, suggests a dynamic economic environment. With student-to-teacher ratios dropping to... Read more
Ontonagon County Market Trends
Median home values in Ontonagon County, Michigan, have jumped from $68,900 in 2015 to $89,700 in 2022, outperforming the state's 30% increase, suggesting rising market interest. The average residential energy tax credit reached $285.71 in 2021 despite previous fluctuations, indicating potential opportunities in energy-efficient housing. Real estate taxes also showed volatility, peaking at nearly... Read more
Median Value of Occupied Housing Units in Ontonagon County, Michigan Over the Last 8 Years
Median home values in Ontonagon County, Michigan, have seen some interesting shifts over the last 8 years, ascending most strikingly from $68,900 in 2015 to $89,700 in 2022. While still lower than state and national averages, which stood at $201,100 and $179,400, respectively in 2022, Ontonagon County's 30% gain is indicative of growing market interest or improvement. Such trends could make it a worthwhile consideration for those looking to invest in more affordable housing markets with potential for appreciation in the Upper Peninsula.
Residential Energy Tax Credit Per Tax Return in Ontonagon County, MI Over the Last 8 Years
The average residential energy tax credit per tax return in Ontonagon County, Michigan, has shown variability over the last eight years, with notable fluctuations. After a slight dip in 2014 to $210.00, credits grew incrementally, peaking at $233.33 by 2017. A significant drop to $180.00 occurred in 2019, but the trend reversed with a surge to $285.71 in 2021. This ebb and flow might indicate residents' varying investment in energy-efficiency improvements or changing policy impacts, potentially signaling opportunities or risks for property developers, appraisers, and investors in energy-efficient housing.
Average Real Estate Taxes Per Tax Return in Ontonagon County, MI Over the Last 10 Years
Over the past decade, Ontonagon County in Michigan has seen a fluctuating trend in average real estate taxes per tax return. Starting at approximately $2,469.23 in 2012, real estate taxes incrementally increased, surpassing $2,986.11 by 2017. A significant spike occurred between 2018 and 2019, with taxes jumping to nearly $4,683.33. Though the rate slightly decreased to $3,460.00 by 2021, this volatility suggests a dynamic economic environment. Real estate investors, developers, and residents may want to evaluate these trends for potential impacts on property values and the feasibility of long-term investments or developments.
Percentage of Farm Returns in Ontonagon County, MI Over the Last 10 Years
Farm tax returns in Ontonagon County, Michigan have hovered between 1.71% and 2.52% over the last decade. This suggests relatively modest and stable farm income entries in the region, with slight dips and recoveries but not significant fluctuations. For potential investors or those interested in agricultural development, these figures may indicate a stable but limited farming economy. The relatively steady percentages reflect consistent but small-scale farming activity, which could suggest either limited growth opportunities or a steady, reliable agricultural base with minimal volatility.
Number of Mortgages by Occupancy Type in Ontonagon County, MI Over the Last 5 Years in Ontonagon County
Ontonagon County, Michigan has seen fluctuating trends in mortgage counts by occupancy type over the last five years. While principal residences consistently dominate the mortgage landscape, there is noticeable variability in the number of mortgages for second residences and investment properties. Understanding these shifts could be key for potential investors and developers, as increases in second residence mortgages might signal a rising demand for vacation homes. For appraisers and insurance agents, these trends hint at changing property values and risk profiles. Real estate agents might see new opportunities in marketing second homes or investment properties. Overall, these shifts could influence decisions on where to build or buy, impacting both local markets and broader economic planning.
Economic Outlook
Ontonagon County, Michigan has experienced a noteworthy rise in average taxable income per tax return, jumping from $38,871.99 in 2013 to $52,709.12 in 2021. Coupled with an increase in average state and local income taxes, which climbed from $3,603.13 in 2012 to $5,875.00 by 2021, this trend could signal economic growth and better job prospects. Additionally, the variability in average total tax liability, which grew from $4,598.49 in 2013 to $6,452.27 by 2021, may indicate shifts in the local... Read more
Average Taxable Income per Tax Return in Ontonagon County, MI over the last 9 years
Ontonagon County, Michigan, has seen a substantial upward trend in average taxable income per tax return over the last nine years. From 2013's $38,871.99 to 2021's $52,709.12, there's been a noticeable surge, especially post-2016. This increase could pique interest for investors, real estate agents, and those looking to move to the area, as rising incomes often hint at economic growth and potentially better job prospects. For appraisers and insurance agents, this trend might forecast a corresponding rise in property values and insurance needs.
Average State and Local Income Taxes Per Tax Return in Ontonagon County, MI Over the Last 10 Years
Over the past decade, Ontonagon County in Michigan has experienced a noticeable rise in average state and local income taxes per tax return. Starting at approximately $3,603.13 in 2012, these taxes have increased to $5,875.00 by 2021. Notable spikes were observed in 2016 and 2020, potentially reflecting broader economic shifts or policy changes. This upward trend may suggest rising incomes or adjustments in tax regulations, pivotal for prospective investors, new residents, or those looking to develop property, as it could impact overall cost of living and economic planning.
Average Total Tax Liability Per Tax Return in Ontonagon County, MI Over the Last 10 Years
Ontonagon County, Michigan has shown some variability in average total tax liability per tax return over the past decade, with notable increases particularly in recent years. The tax liability grew from approximately $4,598.49 in 2013 to about $6,452.27 by 2021. For those looking to invest, move, or build in the area, this trend could suggest a growing taxable income base, notably peaking in 2021. This may potentially reflect economic or demographic shifts within the county, or changes in the local financial landscape.
Cost of Living in Ontonagon County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,005 | $1,476 | $2,100 | $1,049 | $1,210 |
| 1 adult 4 children | $1,005 | $1,205 | $1,608 | $1,049 | $1,287 |
| 2 adults 3 children | $1,005 | $1,206 | $1,822 | $1,049 | $987 |
| 1 adult 3 children | $1,005 | $984 | $1,329 | $1,049 | $1,035 |
| 2 adults 2 children | $826 | $987 | $1,543 | $909 | $884 |
| 1 adult 2 children | $826 | $737 | $1,050 | $909 | $794 |
| 2 adults 1 child | $826 | $780 | $1,264 | $455 | $812 |
| 1 adult 1 child | $826 | $504 | $771 | $455 | $658 |
| 2 adults | $709 | $627 | $985 | $0 | $719 |
| 1 adult | $571 | $342 | $493 | $0 | $553 |
Safety trends & Data
Property crime trends in Ontonagon County, Michigan, indicate a generally low and fluctuating rate over the past five years. Isolated annual cases of burglary and motor vehicle theft have been reported, while larceny-theft incidents show only modest increases. Embezzlement and fraud had higher cases in 2019, suggesting periodic spikes in certain property crimes. This data could imply an overall stable yet watchful community, potentially reassuring for investors and... Read more
Property Crime Trends in Ontonagon County, MI Over the Last 5 Years
Property crime trends in Ontonagon County, Michigan reveal fluctuating but generally low numbers over the past five years. Notable incidents include isolated cases of burglary and motor vehicle theft occurring annually, while instances of larceny-theft show only modest increases. Embezzlement and fraud reported a higher concentration of cases in 2019, suggesting periodic spikes in certain types of property crime. This data may hint at having an overall stable yet vigilant community regarding property crimes, which could be reassuring for potential investors and residents alike.
Demographics
Ontonagon County, Michigan shows a notable male majority in its adult population. Educational attainment is largely concentrated at the high school level, with many residents holding a high school diploma or having some college education. The age distribution indicates an aging population, with the largest groups being those aged 55-64 and 65-74. The racial makeup is predominantly White, with minimal representation from other racial groups. These trends could imply challenges and opportunities... Read more
Race Distribution in Ontonagon County, Michigan (2022)
Educational Attainment in Ontonagon County, Michigan (2022)
Age Distribution in Ontonagon County, Michigan
Citizen Population in Ontonagon County, Michigan (2022)
Political Trends & Data
Ontonagon County in Michigan possibly exhibited a strong Republican preference in the 2020 U.S. Presidential Election, with approximately 62% of votes leaning towards the Republican Party. Democratic votes comprised around 37%, significantly trailing behind. Minor parties, including the Libertarian and Green parties, barely made a mark, each garnering less than 1% of the votes. This voting pattern could indicate a solid conservative base in the region, potentially influencing local and state... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Ontonagon County in Michigan potentially exhibited a strong Republican preference in the 2020 U.S. Presidential Election, with approximately 62% of votes leaning towards the Republican Party. Democratic votes comprised around 37%, significantly trailing behind. Minor parties, including the Libertarian and Green parties, barely made a mark, each garnering less than 1% of the votes. This voting pattern could indicate a solid conservative base in the region, possibly influencing local and state policies towards right-leaning agendas.
61.99% of voters voted for the Republican party in the 2020 Presidential Election
36.57% 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
0.34% of voters voted for the Green party in the 2020 Presidential Election
0.32% of voters voted for the Other party in the 2020 Presidential Election
School Data
Ontonagon County, Michigan has boasted notable student-to-teacher ratios, peaking at 13 in 2018 and dropping to a low of 10 in 2022, compared to the national average of 14. This favorable educational environment can be an appealing point for potential homebuyers, suggesting a more personalized student experience. Real estate agents and investors might leverage this trend to highlight the county's commitment to lower class sizes, potentially influencing property values and... Read more
Student-to-teacher ratio in Ontonagon County, Michigan over the last 10 years
Ontonagon County, Michigan has seen a fluctuating student-to-teacher ratio over the last decade, peaking at 13 in 2018 and dipping to an impressive low of 10 in 2022. While the national average stands at 14 students per teacher, Ontonagon's more favorable ratios may suggest a more personalized educational environment, which might be attractive for families moving into the area. Investors and real estate agents could capitalize on this trend, promoting the county's commitment to maintaining lower class sizes compared to the broader national landscape. Additionally, appraisers and insurance agents might consider this positive aspect when evaluating property values and risks in the region.
