Data And Demographics

Data And Demographics

Data provided by WADE Trim Bonner Advisory Group.

To view the entire Economic Enhancement Strategy, please click here.

Population

As of 2019, the DDA District has an estimated population of 229 residents. This figure has declined slightly, since 2010, and is forecasted for another slight decrease over the next five years. Similarly, the population of Grosse Ile Township, which is slightly above 10,000 residents, has declined slightly since 2010, and will continue a slight decline through 2024.

Slightly more than 92,000 citizens live within a 15 minute drive of the center of the DDA. The population of this area is forecasted to remain relatively steady, with a modest population increase of 1.0% from 2010 through 2024. Somewhat in contrast to Grosse Ile Township and the surrounding areas, the State of Michigan as a whole is forecasted to increase in population between 2019 and 2024, and will see a 3.5% growth between 2010 and 2024.

Median Age

Following national trends, the median age of the population has increased since 2010, and is forecasted to continue to increase through 2024. For the State of Michigan and the lands within 15 minutes of the DDA, the median age will rise

8.1% and 6.4%, respectively, between 2010 and 2024. Notably, for both Grosse Ile Township and the DDA Limits, the median age will rise by over 12% between 2010 and 2024.

With an aging population, Grosse Ile Township and the DDA face both challenges and opportunities. Challenges include providing municipal services and amenities to serve the aging population; opportunities include new businesses that offer products demanded by an aging population. As a mixed-use district, the DDA also has an opportunity to attract new empty nesters and retirees who are looking to

live in a walkable community with varied amenities.

Housing

Total Units

As of 2019, there are an estimated 174 total housing units within the DDA District. This figure has been relatively steady, as 178 total housing units were recorded in 2010. No change in the current number of housing units is forecasted by 2024. Grosse Ile Township has an estimated 4,418 total housing units in 2019, which is slightly lower than its total (4,465) in 2010. By 2024, it is forecasted that there will be 4,424 housing units in the Township. At the local level, slight housing unit declines

are being experienced. In comparison, for the State as a whole, an approximate housing unit growth rate of 5% is forecasted between 2010 and 2024.

Occupancy and Tenure

Of the 155 occupied housing units within the DDA as of 2019, only 35 (22.6%) are renter-occupied while 120 (77.4%) are owner occupied. Within Grosse Ile Township, the owner occupancy percentage is much higher at 88.6%. Only 11.4% of the Township’s occupied housing units are renter occupied.

Within the DDA, an 11.5% housing unit vacancy rate exists as of 2019. This is slightly less than the State’s vacancy rate. For the Township, the housing unit vacancy rate stands much lower at 4.8%.

Housing Value

Grosse Ile Township DDA (and the Township as a whole) are very high in comparison to the State. Michigan’s median value of owner occupied housing units in 2019 was slightly more than $170,000, while in the DDA District the median

value was over $280,000 and in the Township it was over $350,000.

For all three geographies, the median housing value of owner occupied units is forecasted to increase through 2024 – within the DDA by 3.0%, the Township by 9.7% and the State by 12.8%.

Income

With a median household income of $106,128 in 2019, Grosse Ile Township’s income is nearly double the State. All geographies are forecasted to see median household income growth through 2024, especially within the DDA, where the median household income will reach $96,499 (25.6% growth).

Educational Attainment

As of 2019, high school graduation rates in the DDA and Township are over 96%, very high in comparison to Michigan at 91.2%. Associate, bachelor and professional degree holder percentages in the DDA and the Township are also significantly higher than State rates.

Employment

Of Grosse Ile Township’s population 16 years or older and in the labor force, nearly all (98.6%) have a place of employment in 2019. Only 1.4% are unemployed. The

unemployment rate for the State of Michigan is estimated at 4.3% in 2019. For both Grosse Ile Township and the State of Michigan, unemployment rates have declined. In 2010, the Township’s unemployment rate was 8.0%.