Traverse County Real Estate and Livability Trends
Traverse County, Minnesota has seen a rise in median home values from $70,900 in 2015 to $109,300 in 2022, offering potential investment opportunities despite higher real estate taxes, which increased from $1,800.00 in 2012 to $2,675.00 in 2021. Fluctuating average taxable income, peaking at $75,250.64 in 2021, could attract new residents and investors, although variable state and local income... Read more
Traverse County Market Trends
Traverse County, Minnesota has seen a steady increase in median home values from $70,900 in 2015 to $109,300 in 2022, reflecting potential investment opportunities given its comparative affordability and consistent appreciation. Though real estate taxes have risen, soaring from $1,800.00 in 2012 to $2,675.00 in 2021, this could indicate higher property values or funding shifts. The fluctuating... Read more
Median Value of Occupied Housing Units in Traverse County, Minnesota Over the Last 8 Years
Traverse County, Minnesota has witnessed a steady rise in median home values over the past eight years, with values increasing from $70,900 in 2015 to $109,300 in 2022. When compared to state and national trends, the county's growth appears modest but steady, with Minnesota's median values spiking from $186,200 in 2015 to $286,800 in 2022, and national values rising from $125,500 to $179,400 in the same period. This upward trend in Traverse County might suggest investment potential, particularly for those looking to capitalize on the comparative affordability and consistent appreciation in home values.
Residential Energy Tax Credit Per Tax Return in Traverse County, MN Over the Last 4 Years
Traverse County, Minnesota has shown fluctuating average residential energy tax credits per tax return over the past four years. In 2013, the average was $375.00, peaking at $466.67 in 2014. However, this incentive saw a steep decline to $200.00 in 2015 before slightly rebounding to $266.67 in 2016. These trends may indicate variable incentives for energy-efficient home improvements and could influence investment decisions, home upgrades, and appraisals. Potential or existing residents and real estate professionals might find these variations crucial in planning for energy-efficient projects and assessing market values.
Average Real Estate Taxes Per Tax Return in Traverse County, MN Over the Last 10 Years
Real estate taxes per tax return in Traverse County, Minnesota have shown an upward trend over the past decade, climbing from $1,800.00 in 2012 to $2,675.00 in 2021. A notable dip between 2012 and 2015 suggests a potential period of lower property tax assessments or changes in tax policies. Since 2015, however, the growth in taxes has been more pronounced, likely reflecting increased property values or shifts in municipal funding needs. For those considering a move, investments, or developments in Traverse County, this trend could signal rising costs associated with homeownership or property investment.
Percentage of Farm Returns in Traverse County, MN Over the Last 10 Years
The percentage of farm returns in Traverse County, Minnesota has mostly hovered around the 18% to 19% mark over the last decade, with slight upward and downward fluctuations. Notable years include 2014 and 2019, when farm returns peaked at approximately 19.28% and 19.38% respectively, highlighting potentially favorable agricultural conditions or policies. Understanding farm tax returns provides a window into the economic health of the farming sector, which is crucial for those investing in, moving to, or building properties in the area. It can also offer significant insights for those already residing there who might be considering agricultural ventures or understanding local economic stability better.
Number of Mortgages by Occupancy Type in Traverse County, MN Over the Last 5 Years in Traverse County
Traverse County, Minnesota has seen fluctuating mortgage counts over the last five years, with a noticeable prevalence in principal residences. Investment property mortgages have remained minimal, peaking at just four in 2019. These trends can indicate a primarily residential focus in the county, potentially influencing property values and investment strategies. For investors, the scant number of investment property mortgages might signal limited rental market opportunities, whereas the strong demand for principal homes suggests stable residential market conditions. Real estate agents and appraisers might consider these occupancy trends when assessing property values, while insurance agents can use this data to gauge risk profiles and policy requirements. Builders and developers might also find these insights useful for tailoring projects to meet dominant housing needs.
Economic Outlook
Traverse County, Minnesota has experienced notable fluctuations in average taxable income, peaking at $75,250.64 in 2021 after a low of $52,496.99 in 2018, potentially signaling burgeoning economic activity and higher earning potential. This trend might attract investors, developers, and new residents. State and local income taxes also showed volatility, with highs of $11,850.00 in 2021 and lows around $8,000.00 in certain years, suggesting variable economic policies that could impact financial... Read more
Average Taxable Income per Tax Return in Traverse County, MN over the last 9 years
Traverse County, Minnesota has seen fluctuations in average taxable income per tax return over the last nine years, with notable increases in the past couple of years. Starting at $58,195.88 in 2013, the average dipped to a low of $52,496.99 in 2018 before rebounding significantly to $75,250.64 in 2021. This upward trend in recent years could be indicative of growing economic activity and higher earning potential in the area, potentially making it an attractive spot for investors, property developers, and new residents. This insight might suggest solid economic growth or perhaps shifts in the local job market, benefiting those keen on exploring opportunities within Traverse County.
Average State and Local Income Taxes Per Tax Return in Traverse County, MN Over the Last 10 Years
Traverse County, Minnesota has seen considerable fluctuations in average state and local income taxes per tax return over the past decade. In 2013 and 2021, the amounts spiked to $11,640.00 and $11,850.00 respectively, while 2016 and 2019 saw lows hovering just above $8,000.00. This volatility could suggest potential instability or shifting economic policies. Prospective investors and residents might want to factor in this uncertainty when planning financial commitments or long-term stays. This variable tax burden is crucial for anyone budgeting for property taxes, personal income, or assessing the overall cost of living.
Average Total Tax Liability Per Tax Return in Traverse County, MN Over the Last 10 Years
Traverse County, Minnesota, has seen a fluctuating average total tax liability per tax return over the last decade, peaking in 2012 at approximately $11,235.43 and dipping to its lowest in 2018 at around $7,956.56. Recent years show variability but with a notable rebound in 2021 to an estimated $11,573.44. These trends might interest potential investors, appraisers, and real estate agents as they reflect on economic conditions and tax-related changes affecting property and income decisions.
Cost of Living in Traverse County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,174 | $1,504 | $1,738 | $1,445 | $1,327 |
| 1 adult 4 children | $1,174 | $1,228 | $1,353 | $1,445 | $1,538 |
| 2 adults 3 children | $1,174 | $1,229 | $1,496 | $1,445 | $1,097 |
| 1 adult 3 children | $1,174 | $1,003 | $1,111 | $1,445 | $1,284 |
| 2 adults 2 children | $826 | $1,006 | $1,254 | $1,256 | $879 |
| 1 adult 2 children | $826 | $751 | $869 | $1,256 | $907 |
| 2 adults 1 child | $826 | $795 | $1,012 | $641 | $779 |
| 1 adult 1 child | $826 | $513 | $627 | $641 | $657 |
| 2 adults | $651 | $639 | $770 | $0 | $613 |
| 1 adult | $552 | $348 | $385 | $0 | $509 |
Safety trends & Data
Traverse County, Minnesota, has seen some interesting trends in property crimes over the past five years. Fraud incidents peaked in 2019 with seven reported cases, and larceny-theft also fluctuated, hitting highs in 2019 and 2020. Burglary has stayed relatively stable, maxing out at two incidents yearly in 2019 and 2021, while motor vehicle thefts saw minor upticks in those same years. Vandalism has been inconsistent but noted small increases in 2019 and 2022. These crime trends could be... Read more
Property Crime Trends in Traverse County, MN Over the Last 5 Years
Over the past five years, Traverse County, Minnesota, has experienced varied trends in property crimes. Notably, incidents of fraud spiked in 2019, with seven reported cases, while larceny-theft also saw significant fluctuations with a peak in 2019 and 2020. Burglary incidents remained relatively low and stable, with the highest count at two per year in 2019 and 2021. The data reveals a slight uptick in motor vehicle thefts in 2019 and 2021. Vandalism incidents have been inconsistent, with small increases in 2019 and 2022. These trends may be valuable for potential investors, movers, insurance agents, appraisers, builders, and real estate agents assessing property values and safety in the county.
Demographics
Traverse County, Minnesota exhibits a nearly even gender distribution among adults, with males slightly outnumbering females. The age distribution skews older, suggesting a substantial retirement-aged population. A significant portion of residents have completed high school, though fewer hold bachelor’s or higher degrees, pointing to potential interest in expanded educational and career development opportunities. The racial composition is predominantly White, with small percentages of African... Read more
Race Distribution in Traverse County, Minnesota (2022)
Educational Attainment in Traverse County, Minnesota (2022)
Age Distribution in Traverse County, Minnesota
Citizen Population in Traverse County, Minnesota (2022)
Political Trends & Data
Traverse County, Minnesota reflects a potentially conservative-leaning electorate, with Republicans capturing approximately 62.9% of the vote in the 2020 presidential election, compared to 35.5% for Democrats. Such political trends might influence local real estate development and amenities, as areas with conservative majorities often prioritize traditional infrastructure and may have different regulatory approaches impacting property... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Republicans seemed to have an edge in Traverse County, securing around 62.9% of the vote in the 2020 presidential election. Democrats attracted roughly 35.5%, while Libertarians and Greens garnered minimal support at about 0.6% and 0.3%, respectively. Other parties combined may have contributed close to 0.8%. This voting pattern could indicate a generally conservative-leaning electorate in this Minnesota county.
62.88% of voters voted for the Republican party in the 2020 Presidential Election
35.46% of voters voted for the Democrat party in the 2020 Presidential Election
0.64% of voters voted for the Livertarian party in the 2020 Presidential Election
0.27% of voters voted for the Green party in the 2020 Presidential Election
0.75% of voters voted for the Other party in the 2020 Presidential Election
School Data
Traverse County, Minnesota has experienced notable shifts in its student-to-teacher ratio over the past decade. Between 2014 and 2016, the ratio was around ten students per teacher, which is below the national average of fourteen. However, starting in 2017, it increased, peaking at nearly fourteen in 2022 and settling around thirteen in 2023. These changes could reflect shifting demographics or budgetary adjustments in local schools, making the area appealing for families prioritizing education... Read more
Student-to-teacher ratio in Traverse County, Minnesota over the last 10 years
The student-to-teacher ratio in Traverse County, Minnesota has seen varied changes over the past decade. From 2014 to 2016, the ratio remained low, hovering around ten students per teacher, which is significantly below the current national average of fourteen. Starting in 2017, the ratio began to increase, peaking at nearly fourteen in 2022 before slightly dropping to about thirteen in 2023. This trend may indicate shifting demographics or budgetary adjustments impacting local schools. Those looking to invest in property or relocate might find these changes relevant as smaller classroom sizes often suggest more personalized attention from educators, which can appeal to families prioritizing education. For real estate agents, appraisers, and insurance agents, these figures could also influence property values and marketability.
