Wayne County Real Estate and Livability Trends
Wayne County, Michigan's real estate market appears quite dynamic, with median home values nearly doubling from $83,000 in 2015 to $158,600 in 2022, suggesting a robust appreciation outpacing state and national trends. This growth in property values coincides with a notable increase in average real estate taxes from $3,631.31 in 2012 to $6,465.06 in 2021, hinting at rising valuations and... Read more
Wayne County Market Trends
Wayne County, Michigan has experienced impressive gains in median home values, jumping from $83,000 in 2015 to $158,600 in 2022, outpacing both state and national averages. The notable increase in average real estate taxes per return, doubling from $3,631.31 in 2012 to $6,465.06 in 2021, hints at rising property valuations and possibly higher tax rates, which could imply increasing ROI for... Read more
Median Value of Occupied Housing Units in Wayne County, Michigan Over the Last 8 Years
Wayne County, Michigan has shown a steady increase in median home values over the last eight years, jumping from $83,000 in 2015 to $158,600 in 2022. This rapid growth outpaces the overall Michigan state median, which rose from $122,400 to $201,100, and the national average, which went from $125,500 to $179,400 over the same period. These upward trends could suggest burgeoning investment opportunities in Wayne County compared to broader state and national markets.
Residential Energy Tax Credit Per Tax Return in Wayne County, MI Over the Last 9 Years
Over the past nine years, Wayne County, Michigan has experienced notable fluctuations in the average residential energy tax credit per tax return. Starting from approximately $295.36 in 2013, the amount saw a gradual increase, peaking significantly at $1,444.95 in 2018 before stabilizing around $643.70 by 2021. This variability suggests periods of increased investment in energy-efficient home improvements, which could potentially impact the local real estate market by boosting property values and attractiveness. Investors, property developers, and real estate agents might find these trends useful when assessing the long-term value proposition of properties within the county.
Average Real Estate Taxes Per Tax Return in Wayne County, MI Over the Last 10 Years
Over the last decade, Wayne County, Michigan has seen average real estate taxes per tax return nearly double from $3,631.31 in 2012 to $6,465.06 in 2021. This marked increase suggests a robust rise in property valuations and possibly tax rates. For potential investors or those considering buying property in the area, this trend could imply increasing property values and potentially higher returns on investment. For current homeowners, it might translate to consideration of the growing tax burden. Real estate agents and appraisers would note this trend as indicative of a dynamic market, potentially affecting pricing and marketability of homes in the region.
Percentage of Farm Returns in Wayne County, MI Over the Last 10 Years
Over the last decade, farm tax returns in Wayne County, Michigan have shown a slight but consistent decrease, starting at approximately 0.06% in 2012 and dropping to around 0.05% in 2021. This trend suggests that farming activities in the region may be on the decline, possibly reflecting broader changes in land use or economic priorities. For potential investors or individuals looking to build property in Wayne County, this pattern could imply a shift towards non-agricultural development. Understanding these trends is crucial for making informed decisions about investments or relocations within the county. Farm tax returns are indicative of the agricultural sector's relative contribution to local taxation, hence their decline could signal significant economic and social shifts.
Number of Mortgages by Occupancy Type in Wayne County, MI Over the Last 5 Years in Wayne County
Wayne County, Michigan has seen a notable trend of increasing mortgage counts for investment properties and principal residences over the past five years, with a more modest uptick in second residences. For potential investors, this suggests a growing interest in both rental and resale markets. Changes in principal residence mortgages also indicate shifts in population and housing demands, which could affect property values and community development. Appraisers and real estate agents should account for these trends to better gauge market health, while insurance agents might see an evolving risk landscape. Builders and those looking to move here should consider these dynamics when planning and forecasting future needs.
Economic Outlook
The average taxable income per tax return in Wayne County, Michigan has experienced a steady rise over the last nine years, increasing from about $48,236.28 in 2013 to around $65,268.21 in 2021. Significant jumps, such as nearly $5,900 between 2017 and 2018 and approximately $8,356 from 2020 to 2021, indicate possibly improving economic conditions. Meanwhile, state and local income taxes saw a peak in 2021 at $10,785.54, more than double from 2012, pointing to a shift in local taxation or... Read more
Average Taxable Income per Tax Return in Wayne County, MI over the last 9 years
The average taxable income per tax return in Wayne County, Michigan has seen a generally upward trend over the last nine years. Starting at approximately $48,236.28 in 2013, it reached about $65,268.21 in 2021. Notable jumps include nearly a $5,900 increase from 2017 to 2018 and approximately a $8,356 rise from 2020 to 2021. These changes may suggest improving economic conditions, potentially attracting investors and new residents, while appraisers and insurance agents might see this as a sign of increased property values and risk assessments, respectively. For real estate and development, it suggests a potentially growing market with increasing buyer purchasing power.
Average State and Local Income Taxes Per Tax Return in Wayne County, MI Over the Last 10 Years
Over the past decade, Wayne County, Michigan has seen considerable fluctuations in average state and local income taxes per tax return. While starting at $5,056.55 in 2012, taxes experienced a notable increase peaking at $10,785.54 in 2021. The most significant spike occurred between 2017 and 2018, jumping from $5,950.33 to $9,575.01. This suggests a notable shift in local taxation policies or economic conditions that might be of interest for potential investors, property developers, or new residents considering the financial climate of the area.
Average Total Tax Liability Per Tax Return in Wayne County, MI Over the Last 10 Years
Wayne County, Michigan has seen fluctuations in its average total tax liability per tax return over the past decade, with a noticeable increase from $8,016.14 in 2012 to $10,901.99 in 2021. Notably, there were significant spikes in 2016 and 2018, reaching over $10,214.64 and $10,577.02, respectively, which may indicate economic factors influencing higher earnings or tax policies during those periods. For potential investors, real estate agents, and residents, this trend could suggest an evolving economic landscape with possible impacts on property values and overall market stability.
Cost of Living in Wayne County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,415 | $1,448 | $1,406 | $1,837 | $1,270 |
| 1 adult 4 children | $1,415 | $1,182 | $1,080 | $1,837 | $1,392 |
| 2 adults 3 children | $1,415 | $1,183 | $1,218 | $1,837 | $1,064 |
| 1 adult 3 children | $1,415 | $966 | $891 | $1,837 | $1,189 |
| 2 adults 2 children | $1,136 | $968 | $1,029 | $1,602 | $917 |
| 1 adult 2 children | $1,136 | $723 | $703 | $1,602 | $922 |
| 2 adults 1 child | $1,136 | $765 | $841 | $841 | $816 |
| 1 adult 1 child | $1,136 | $494 | $515 | $841 | $697 |
| 2 adults | $891 | $615 | $653 | $0 | $592 |
| 1 adult | $791 | $335 | $326 | $0 | $476 |
Safety trends & Data
Property crime trends in Wayne County, Michigan, have shown a notable decline in larceny-theft from 4,024.00 in 2019 to 2,211.00 in 2022, suggesting improving safety in some areas. However, motor vehicle theft more than doubled from 266.00 to 507.00 in 2022, and vandalism incidents have remained relatively stable, hovering around the mid-700s. This indicates that while overall safety might be improving, specific crimes still pose substantial concerns for residents and... Read more
Property Crime Trends in Wayne County, MI Over the Last 5 Years
Property crime trends in Wayne County, Michigan over the past five years reveal some interesting dynamics. Larceny-Theft consistently stands out as the most prevalent crime, though its numbers have seen a significant drop from 2019's 4,024.00 to 2,211.00 in 2022. Motor Vehicle Theft experienced a surprising jump in 2022, more than doubling from the previous year's 266.00 to 507.00. Notably, incidents of Vandalism have remained relatively stable around the mid-700s mark, suggesting ongoing concerns for property owners and businesses. These trends suggest that while some forms of property crime are declining, others are emerging or persisting, indicating a complex safety landscape for residents and investors alike.
Demographics
Wayne County, Michigan, exhibits a nearly balanced gender distribution among its adult population with a slight female majority. Educational attainment reveals a substantial proportion of individuals holding high school diplomas or some college experience, while fewer possess a graduate or professional degree. Age distribution skews towards younger adults, particularly between 25 and 34 years, potentially signaling a dynamic, early-career workforce. Racially, the county is predominantly White... Read more
Race Distribution in Wayne County, Michigan (2022)
Educational Attainment in Wayne County, Michigan (2022)
Age Distribution in Wayne County, Michigan
Citizen Population in Wayne County, Michigan (2022)
Political Trends & Data
In Wayne County, Michigan, the 2020 U.S. Presidential Election revealed a strong Democratic preference, with Democrats securing about 68% of the votes and Republicans around 30%. Third parties like the Libertarians and Greens barely made a dent, each capturing less than 1% of the vote. This predominant Democratic leaning could influence both state and national political strategies and... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Wayne County, Michigan, the 2020 U.S. Presidential Election saw a significantly higher percentage of votes for Democrats, capturing around 68%, while Republicans garnered approximately 30%. The data also suggests a minimal voter turnout for third parties, with the Libertarian Party and Green Party receiving less than 1% of the vote each. This trend indicates a strong Democratic preference in the county, which could have broader implications for state and national elections.
30.32% of voters voted for the Republican party in the 2020 Presidential Election
68.45% of voters voted for the Democrat party in the 2020 Presidential Election
0.75% of voters voted for the Livertarian party in the 2020 Presidential Election
0.28% 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
Wayne County, Michigan's student-to-teacher ratio over the past decade has fluctuated between approximately 19 to 22 students per teacher, consistently higher than the national average of 14 students per teacher. For real estate investors and agents, this could signal potential challenges in school quality, potentially influencing family appeal and property values. Appraisers and insurance agents might also find this data significant, as it could impact both property assessments and insurance... Read more
Student-to-teacher ratio in Wayne County, Michigan over the last 10 years
Wayne County, Michigan has seen fluctuations in the student-to-teacher ratio over the last decade, with values ranging from approximately 19 to 22 students per teacher. For potential investors, real estate agents, or those considering a move, it's notable that even at its lowest, the ratio is higher than the national average of 14 students per teacher. Higher ratios could indicate larger class sizes, which might affect educational quality and appeal to families. This trend is relevant for appraisers and insurance agents, too, as school quality often impacts property values and, consequently, insurance rates. These insights can drive decisions around property development and investment strategies.
