Otsego County Real Estate and Livability Trends
Otsego County, Michigan continues to see a rise in average taxable income per tax return, from $45,308.23 in 2013 to $63,505.19 in 2021, hinting at an improving economic environment. However, the significant increase in state and local income taxes, soaring from $4,100.00 in 2012 to $12,640.00 in 2021, may have financial implications for newcomers and investors. Median home values climbed to... Read more
Otsego County Market Trends
Median home values in Otsego County, Michigan have steadily risen over the past eight years, reaching $178,400 in 2022, trailing slightly behind but closely following state and national growth patterns. Average residential energy tax credits have surged, particularly from $490.91 in 2019 to $570.37 by 2021, indicating a regional focus on energy efficiency. Real estate taxes have also seen a... Read more
Median Value of Occupied Housing Units in Otsego County, Michigan Over the Last 8 Years
Over the last eight years, the median home values in Otsego County, Michigan have experienced a consistent upward trend, reaching $178,400 in 2022. When compared to Michigan's state median, Otsego County's values have been generally lower, though they have mirrored the state's growth pattern. On the national level, Otsego County's median home values have also been slightly behind but show a close trajectory of increase, highlighting a robust local market that tracks larger state and national trends. This growth trajectory could signal sound investment opportunities for potential buyers and a favorable market outlook for current homeowners.
Residential Energy Tax Credit Per Tax Return in Otsego County, MI Over the Last 8 Years
In Otsego County, Michigan, the average residential energy tax credit per tax return has shown a marked increase, particularly noticeable starting in 2019. Previously, the figures hovered around the mid-$200s and $300s, but jumped to $490.91 in 2019 and continued to rise, reaching $570.37 by 2021. This trend suggests a growing emphasis on energy-efficient investments in the region, which could be a key point of interest for investors, real estate agents, and homeowners looking to capitalize on potential tax benefits and improve property value. It may also impact appraisals and insurance valuations as more homes incorporate energy-efficient systems.
Average Real Estate Taxes Per Tax Return in Otsego County, MI Over the Last 10 Years
Over the past decade, Otsego County, Michigan has experienced a noticeable increase in average real estate taxes per tax return. Starting from $2,393.36 in 2012, there has been a steady climb, peaking dramatically at $4,532.35 in 2020. This shift might suggest rising property values and possibly expanding municipal budgets or services. The sharp rise between 2017 and 2018, jumping from approximately $2,858.80 to $4,110.87, could potentially interest or concern prospective investors and homeowners, emphasizing the importance for detailed financial assessments. Real estate agents, appraisers, and insurance agents would find this trend indicative of a dynamically changing market landscape.
Percentage of Farm Returns in Otsego County, MI Over the Last 10 Years
Farm tax returns in Otsego County, Michigan have shown some fluctuations over the past decade, with the highest percentage being around 1.46% in 2015 and the lowest close to 1.15% in 2020. These returns indicate the proportion of total tax filings that come from farm operations, signaling a noteworthy presence of agricultural activity in the area. For prospective investors, this could hint at a relatively stable, although minor, agricultural sector. Residential developers might find this information useful as it suggests a balance between farm and non-farm land use. Overall, the steady percentages highlight a small but persistent farming community, reflecting its potential impacts on local economy and land use policies.
Number of Mortgages by Occupancy Type in Otsego County, MI Over the Last 5 Years in Otsego County
Over the past five years in Otsego County, Michigan, mortgages for principal residences have shown a clear upward trend, peaking significantly in 2021 with a notable 1604 loans. This rise suggests a growing appeal for permanent settlement in the area. Meanwhile, investment property mortgages remained relatively stable but low, indicating potentially limited opportunities for buy-to-rent ventures. Second residence mortgages saw a peak in 2020, perhaps driven by the pandemic-induced demand for vacation homes or remote work setups, but have since slightly decreased. For real estate investors, understanding these shifts is crucial for identifying lucrative opportunities, while potential residents and developers might view the steady increase in principal residences as a sign of a robust and appealing community.
Economic Outlook
Otsego County, Michigan has seen a steady rise in average taxable income per tax return, climbing from around $45,308.23 in 2013 to approximately $63,505.19 in 2021. This trend suggests a possibly improving economic environment that could attract investors and real estate professionals. Simultaneously, state and local income taxes have surged dramatically, going from $4,100.00 in 2012 to $12,640.00 in 2021, with a notable spike in 2018. This shift may prompt potential homeowners and investors... Read more
Average Taxable Income per Tax Return in Otsego County, MI over the last 9 years
Otsego County, Michigan has witnessed a notable upward trend in average taxable income per tax return over the past nine years. Starting at approximately $45,308.23 in 2013, the average has seen consistent increases yearly, culminating in a substantial rise to around $63,505.19 in 2021. This steady growth suggests a possibly improving economic environment, likely a beneficial factor for investors, real estate professionals, and anyone considering moving to or doing business in the area. Such financial trends might indicate stronger consumer spending power and a potentially more robust market for property development and real estate initiatives.
Average State and Local Income Taxes Per Tax Return in Otsego County, MI Over the Last 10 Years
State and local income taxes in Otsego County, Michigan have shown a significant upward trend over the past decade, escalating dramatically from $4,100.00 in 2012 to $12,640.00 in 2021. This steep rise might influence potential homeowners and investors to carefully consider the financial impact of such taxes. The sharp spike observed in 2018 indicates a noteworthy shift, making it crucial for those interested in the area to stay informed about current and future fiscal policies.
Average Total Tax Liability Per Tax Return in Otsego County, MI Over the Last 10 Years
Over the last decade, Otsego County, Michigan has seen a general upward trend in average total tax liability per tax return, peaking in 2021 at $9,312.94. This rise could indicate increasing incomes or property values in the area, possibly making it a more attractive prospect for investors and real estate agents. Despite minor fluctuations, the overall increase suggests a growing financial base which might interest those in finance, insurance, and property development.
Cost of Living in Otsego County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,219 | $1,395 | $1,678 | $1,334 | $1,174 |
| 1 adult 4 children | $1,219 | $1,140 | $1,282 | $1,334 | $1,291 |
| 2 adults 3 children | $1,219 | $1,140 | $1,457 | $1,334 | $983 |
| 1 adult 3 children | $1,219 | $931 | $1,060 | $1,334 | $1,076 |
| 2 adults 2 children | $920 | $933 | $1,236 | $1,156 | $853 |
| 1 adult 2 children | $920 | $697 | $839 | $1,156 | $795 |
| 2 adults 1 child | $920 | $738 | $1,014 | $578 | $772 |
| 1 adult 1 child | $920 | $476 | $618 | $578 | $650 |
| 2 adults | $699 | $593 | $793 | $0 | $638 |
| 1 adult | $636 | $323 | $397 | $0 | $530 |
Safety trends & Data
Otsego County, Michigan, has experienced fluctuating property crime rates over the past five years, with larceny-theft peaking at 169 incidents in 2018 and dropping to 50 incidents in 2021. While burglary and fraud incidents have decreased noticeably, trends in vandalism and motor vehicle theft remain varied. This fluctuation is essential for insurance agents and real estate investors for accurate risk assessment and appraisals, and potential residents might find the relatively low violent... Read more
Property Crime Trends in Otsego County, MI Over the Last 5 Years
Otsego County, Michigan, has seen fluctuating property crime rates over the past five years. Larceny-theft remains the most prevalent crime, with its peak at 169 incidents in 2018 and the lowest at 50 incidents in 2021. Notable decreases are observed in burglary and fraud incidents, but vandalism and motor vehicle theft show varied trends. Insurance agents and real estate investors should be aware of these trends for risk assessment and appraisals, while potential residents can consider the relatively low violent property crime trends as a part of their decision-making process.
Demographics
Otsego County, Michigan, shows a nearly equal gender split among adults, with males slightly outnumbering females. Education levels reveal a substantial portion having only a high school diploma or some college experience without a degree. The age distribution indicates a significant population of older adults, particularly those aged 55 to 64. Racially, the county is overwhelmingly White, with very small percentages of other racial groups. This demographic insight might hint at a community... Read more
Race Distribution in Otsego County, Michigan (2022)
Educational Attainment in Otsego County, Michigan (2022)
Age Distribution in Otsego County, Michigan
Citizen Population in Otsego County, Michigan (2022)
Political Trends & Data
In Otsego County, Michigan, the 2020 U.S. Presidential Election results indicated a notable preference for Republican candidates, with around 66% of votes, versus approximately 32% for Democrats. Libertarians accounted for about 1%, while Green Party and other minor parties barely registered. These voting patterns suggest local political dynamics that could shape future elections, policies, and community... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Otsego County, Michigan, the 2020 U.S. Presidential Election results might suggest a strong inclination towards Republican candidates, with approximately 66% of votes. This is significantly higher compared to the Democrat share at around 32%. The presence of third-party voters seems minimal, with Libertarians capturing roughly 1% and Green Party and other parties barely making a mark. Such a distribution could reflect local political dynamics and potentially influence future elections, policies, and community initiatives.
66.27% of voters voted for the Republican party in the 2020 Presidential Election
32.14% of voters voted for the Democrat party in the 2020 Presidential Election
1.20% of voters voted for the Livertarian party in the 2020 Presidential Election
0.18% of voters voted for the Green party in the 2020 Presidential Election
0.22% of voters voted for the Other party in the 2020 Presidential Election
School Data
In Otsego County, Michigan, the student-to-teacher ratio has decreased from 32 in 2014 to approximately 17 by 2023, still slightly above the national average of 14. This trend suggests improving educational environments, appealing to families, investors, and real estate agents. Schools with lower ratios can signal a commitment to quality education, indirectly boosting property values and the area's... Read more
Student-to-teacher ratio in Otsego County, Michigan over the last 10 years
Over the last decade, Otsego County, Michigan has witnessed a notable shift in its student-to-teacher ratio, starting from a high of 32 in 2014 to gradually decreasing closer to 17 by 2023. Compared to the national average of 14 students per teacher, Otsego County is still slightly above, potentially impacting classroom dynamics and individual student attention. This trend might suggest improving educational environments and staffing levels, which can be appealing for families considering moving to the area, investors eyeing growth, or real estate agents highlighting the school system in their listings. Schools with lower student-to-teacher ratios can often signal a commitment to quality education, indirectly influencing property values and the overall desirability of the region.
