ECONOMIC INDICATORS
In 1995 Marquette County saw the closure of K.I. Sawyer Air Force Base, reducing the population of the county by approximately 9,000 residents. Since that time the population of the county has stabilized and even grown slightly with the 2000 U.S. Census reporting 64,634 residents. In 2006, the population was reported to have increased to 64,675. With the closing of K.I. Sawyer Air Force Base, Marquette County was faced with a myriad of challenges. In the ensuing years, the County has rebounded resulting in an economy that is not only more diverse, but also better suited to meet the global economy demands of the 21st century.
Marquette County serves as a regional shopping destination. Kohl’s, Gander Mountain, Target, Pier 1 and Michael’s have all opened new stores in recent years. Several new restaurants that now call Marquette County home are Starbuck's, Papa Murphy's, Quizno's, and The Waterfront. A Lowe's Home Improvement Store is currently in the works .
Student enrollment at the local university, Northern Michigan University, has experienced a growth rate of 15% since 1999. Enrollment for the 2006 fall semester was 9,353. NMU is a dynamic four-year, public, coeducational university which offers 180 degree programs.
Air travel at Sawyer International Airport (located at the former K.I. Sawyer Air Force Base since 1998) has increased 49% since the year 2000, with 133,681 total passengers in 2007.
Property values in Marquette County have increased by 47% since 2002 and now total $2.16 Billion. Median household income for county residents has increased 15% between the years 1995 and 2004.
All of these indicators predict a bright future for Marquette County.
Population as a Regional Shopping Destination
2006 population estimates show 221,092 residents including the eight surrounding counties. Many local arts and culture activities, festivals, music concerts, high school and university sporting events, recreational sports tournaments and conferences/seminars draw people to Marquette County for day and weekend trips that include shopping, dining and recreation. Marquette County is truly the hub of the Upper Peninsula.
Passenger Air Traffic at Sawyer International Airport
| Year |
# of Passengers |
| 2000 |
88,781 |
| 2001 |
110,689 |
| 2002 |
106,147 |
| 2003 |
103,150 |
| 2004 |
110,900 |
| 2005 |
115,543 |
| 2006 |
132,169 |
| 2007 |
133,681 |
Percentage increase from 2000-2007: 50%
2004 passenger numbers rebounded and slightly exceeded the numbers from 2001 prior to the September 11, 2001 tragedies.
| Income-Median household money income |
| 1995 |
$33,317 |
| 1997 |
$35,478 |
| 1999 |
$35,548 |
| 2002 |
$36,139 |
| 2003 |
$36,993 |
| 2004 |
$38,419 |
Percentage Increase from 1995-2004: 15%
Source: U.S. Census Quick Facts and USDA Economic Research Service
| Housing Market-Average Number of Days on Market |
| 1999 |
124 |
| 2000 |
145 |
| 2001 |
104 |
| 2002 |
84 |
| 2003 |
69 |
| 2004 |
74 |
| 2006 |
107 |
Percentage decrease over last seven years – 14%
Source: Marquette Area Residential Market Housing Review & Forecast by Closser Associates, Inc. 2006
| Median Sales Price |
| 1999 |
$85,000 |
| 2000 |
$93,250 |
| 2001 |
$92,500 |
| 2002 |
$102,700 |
| 2003 |
$113,250 |
| 2004 |
$130,000
|
| 2005-2006 |
$150,000 |
Over the past five years the compounded rate of increase was 10.1% annually.
Source: Marquette Area Residential Market Housing Review & Forecast by Closser Associates, Inc. 2006
Property Value - Marquette County
| 2002 |
$1.52 billion |
| 2003 |
$1.63 billion |
| 2004 |
$1.78 billion |
| 2005 |
$1.96 billion |
| 2006 |
$2.16 billion |
Percentage Increase from 2002-2006: 42%
|
501 S. Front Street
