Wexford County Real Estate and Livability Trends
Wexford County, Michigan has seen a steady rise in average taxable income, growing from $39,716.05 in 2013 to $55,491.94 in 2021, potentially signaling economic growth that could intrigue investors. Median home values climbed from $91,800 in 2015 to $146,100 in 2022, a moderate yet notable increase. Real estate taxes peaked at around $5,005.26 in 2020, possibly affecting appraisals and market... Read more
Wexford County Market Trends
Wexford County, Michigan has seen its median home values rise from $91,800 in 2015 to $146,100 in 2022, a significant but more moderate increase compared to state and national trends. Residential energy tax credits have fluctuated greatly, with a notable peak at $4,066.67 in 2018, suggesting rising investment in energy efficiency or changes in tax policies. Real estate taxes have also climbed,... Read more
Median Value of Occupied Housing Units in Wexford County, Michigan Over the Last 8 Years
Wexford County, Michigan experienced a sharp increase in median home values over the last 8 years, climbing from $91,800 in 2015 to $146,100 in 2022. This growth, though substantial, remains more modest when compared to Michigan’s statewide increase from $122,400 to $201,100 in the same period. Nationally, median home values rose from $125,500 to $179,400. These trends might imply that while Wexford County is seeing rapid growth, it still offers more affordable housing options relative to both state and national markets. This could be appealing for investors and homebuyers seeking value in a quickly appreciating market without the higher price tags seen elsewhere.
Residential Energy Tax Credit Per Tax Return in Wexford County, MI Over the Last 9 Years
Wexford County, Michigan has seen a notable fluctuation in average residential energy tax credits per tax return over the past nine years. While early years remained around $250.00-$300.00, a significant spike occurred in 2018 with an average of $4,066.67, signaling either a substantial uptick in energy-efficient investments or changes in tax policies. Subsequent years saw elevated averages compared to early years, hovering around $900.00-$956.00. This trend may suggest increasing awareness and adoption of energy-efficient solutions by residents, a critical aspect for those considering investment or property valuation in the area.
Average Real Estate Taxes Per Tax Return in Wexford County, MI Over the Last 10 Years
Real estate taxes in Wexford County, Michigan have seen a noticeable upward trend over the past decade, with significant increases starting around 2018. For those interested in investing, moving, or developing property in the area, understanding these escalating costs is crucial. The average tax in 2012 was around $2,692.69, which climbed to a peak of approximately $5,005.26 in 2020 before slightly decreasing to about $4,605.13 in 2021. This upward movement suggests a growing valuation of properties, influencing appraisals, insurance rates, and overall market dynamics.
Percentage of Farm Returns in Wexford County, MI Over the Last 10 Years
Wexford County, Michigan has seen a steady decline in the percentage of farm tax returns over the last decade. Starting at approximately 1.68% in 2012, the percentage has gradually decreased to around 1.28% by 2021. This trend might indicate a shift away from agricultural activities or changes in how farms operate, impacting local policymakers and investors. Those considering investing or relocating to Wexford County may want to evaluate other economic factors to understand the implications on property values and community services.
Number of Mortgages by Occupancy Type in Wexford County, MI Over the Last 5 Years in Wexford County
In Wexford County, Michigan, mortgage counts for principal residences generally remained strong over the last five years, peaking in 2021 with 1,950 mortgages. Investment properties and second residences saw lower numbers, with slight fluctuations; notably, investment property mortgages decreased from 76 in 2019 to 67 in 2022 while second residences had a peak in 2020 with 137 mortgages. While principal residences consistently dominate the market, shifts in investment and second homes are subtle yet significant, potentially indicating changing external investor interest or vacation home desirability. These trends might influence decisions for investors seeking stable returns, builders planning new developments, or insurance agents assessing regional risk profiles.
Economic Outlook
Wexford County, Michigan has seen a consistent rise in average taxable income per tax return over the past nine years, increasing from around $39,716.05 in 2013 to approximately $55,491.94 in 2021. This trend hints at potential economic growth that could be attractive to investors and real estate agents. However, it's worth noting that state and local income taxes have also risen significantly, from $3,931.53 in 2012 to $8,918.42 in 2021, possibly indicating a greater economic burden on... Read more
Average Taxable Income per Tax Return in Wexford County, MI over the last 9 years
Over the past nine years, Wexford County, Michigan has experienced a steady increase in average taxable income per tax return, jumping from around $39,716.05 in 2013 to approximately $55,491.94 in 2021. This upward trend suggests potential economic growth and prosperity in the region, which might be attractive for investors, real estate agents, and anyone considering moving to or building property in the area. The notable spike in 2020 and 2021 could be indicative of broader economic recovery or specific local developments enhancing resident income. However, it's important to consider these figures within the context of wider economic conditions and local policy changes.
Average State and Local Income Taxes Per Tax Return in Wexford County, MI Over the Last 10 Years
Over the past ten years, Wexford County, Michigan has seen a noticeable rise in state and local income taxes per tax return. Starting from $3,931.53 in 2012, the average increased significantly, hitting $8,918.42 in 2021. This escalating tax trend could indicate a growing economic burden on residents but also suggests potential expansion and increased local revenue. Investors and prospective homeowners may want to consider these tax implications when planning financial strategies or property investments in the area.
Average Total Tax Liability Per Tax Return in Wexford County, MI Over the Last 10 Years
Wexford County, Michigan has seen a general upward trend in the average total tax liability per tax return over the past decade, rising from $5,567.35 in 2012 to $7,419.94 in 2021. Notably, there were some fluctuations, such as a dip in 2016 to $6,336.61 and a subsequent peak in 2017 at $6,828.82, suggesting variable economic conditions. This information could be crucial for anyone considering investing, buying or selling property, or evaluating the economic viability of the area, as it offers insight into the financial burden experienced by residents over time.
Cost of Living in Wexford County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,101 | $1,351 | $1,603 | $1,200 | $1,013 |
| 1 adult 4 children | $1,101 | $1,103 | $1,224 | $1,200 | $1,107 |
| 2 adults 3 children | $1,101 | $1,104 | $1,392 | $1,200 | $844 |
| 1 adult 3 children | $1,101 | $901 | $1,013 | $1,200 | $904 |
| 2 adults 2 children | $852 | $904 | $1,181 | $1,040 | $764 |
| 1 adult 2 children | $852 | $675 | $802 | $1,040 | $686 |
| 2 adults 1 child | $852 | $714 | $970 | $520 | $703 |
| 1 adult 1 child | $852 | $461 | $591 | $520 | $587 |
| 2 adults | $663 | $574 | $759 | $0 | $604 |
| 1 adult | $589 | $313 | $379 | $0 | $500 |
Safety trends & Data
Property crime trends in Wexford County, Michigan, show some interesting fluctuations over the last five years. Larceny-theft incidents have notably decreased from 116.0 in 2018 to 43.0 in 2022. Burglary numbers stayed fairly consistent but hit a low of 4.0 in 2020 before picking up again. Motor vehicle thefts have stabilized, ranging around 3.0 to 7.0 cases per year. Vandalism and fraud have fluctuated without clear trends. This data could be crucial for potential investors, real estate... Read more
Property Crime Trends in Wexford County, MI Over the Last 5 Years
Property crime trends in Wexford County, Michigan, show some interesting fluctuations over the last five years. While larceny-theft remains relatively high, there has been a notable decrease from 116.0 incidents in 2018 to 43.0 in 2022. Burglary numbers have mostly stayed consistent but did dip to a low of 4.0 in 2020 before rising again. Motor vehicle thefts have remained fairly stable, hovering around 3.0 to 7.0 cases per year. Vandalism and fraud appear to have fluctuated but without any clear upward or downward trends. This information is vital for potential investors, real estate developers, and insurance agents for understanding the safety dynamics and making informed decisions.
Demographics
Wexford County, Michigan, shows a balanced adult population and potentially hints at demographic stability, with males and females nearly evenly split. The educational attainment suggests that a large segment of the population holds at least a high school diploma, though higher education levels feature smaller numbers. This trend may affect the local job market and economic growth. Age distribution indicates a notable presence of middle-aged and older adults, potentially impacting healthcare... Read more
Race Distribution in Wexford County, Michigan (2022)
Educational Attainment in Wexford County, Michigan (2022)
Age Distribution in Wexford County, Michigan
Citizen Population in Wexford County, Michigan (2022)
Political Trends & Data
Wexford County, Michigan, leaned heavily Republican in the 2020 Presidential Election, with the GOP capturing around 66% of the vote. Democrats trailed with roughly 32%, and minor parties, including Libertarians and Greens, secured under 1% each. This tilt towards conservatism dominates, but minor party votes indicate some political... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Wexford County, Michigan, showed a strong preference for the Republican candidate in the 2020 U.S. Presidential Election, with around 66% of the vote. Democrats garnered roughly 32%, while minor parties like the Libertarian and Green parties received minimal support, with votes close to 1% or less. This voting pattern may suggest a predominantly conservative constituency, though the presence of third-party votes hints at a degree of political diversity.
66.26% of voters voted for the Republican party in the 2020 Presidential Election
31.96% of voters voted for the Democrat party in the 2020 Presidential Election
1.42% of voters voted for the Livertarian party in the 2020 Presidential Election
0.23% of voters voted for the Green party in the 2020 Presidential Election
0.13% of voters voted for the Other party in the 2020 Presidential Election
School Data
Wexford County, Michigan's student-to-teacher ratio has decreased over the past decade from around 19 students per teacher to just under 16 in 2023. While still above the current national average of 14 students per teacher, this trend suggests improving conditions for individualized attention in classrooms. Investors and real estate agents might find this appealing as it often correlates with better educational outcomes, potentially making the area more attractive for families. Appraisers and... Read more
Student-to-teacher ratio in Wexford County, Michigan over the last 10 years
Wexford County, Michigan's student-to-teacher ratio has seen a notable decrease over the past decade from a high of around 19 students per teacher to just under 16 in 2023. While still above the current national average of 14 students per teacher, this positive trend suggests improving conditions for individualized attention in classrooms. Investors and real estate agents might find this appealing as it often correlates with better educational outcomes, potentially making the area more attractive for families. Appraisers and insurance agents could also see this as a sign of a community investing in its future, which may affect property values and risk assessments.
