Skip to main content

EconPulse

Local economy signal dashboard

Saved
PLACEStable

Caro, MI

Stable overall. Federal Funds is the clearest support signal, while jobs needs the most attention. Housing reads as affordable for a median-income household.

Post on XLinkedIn
Overall score48out of 100
Compare
36
0
90
70
98

Population

4,290

Data freshness

Unknown

GDP / Output

-0.5% YoY

36

$1.8B

Output changed -0.5% in 2024.

Vintage date unknown

State growth3.9%
U.S. growth5.3%

Jobs

Unemployment rate

0

9.1%

Unemployment is 9.1% for Latest available.

Vintage date unknown

State avg5.7%
U.S. avg5.2%

Population

+6.6% 5-year

90

4,290

Population moved +6.6% over the latest ACS window.

Vintage date unknown

State population10,077,761
U.S. population334,922,499

Housing

Rent share of income

70

21.7%

Median rent consumes 21.7% of median household income: Affordable.

Vintage date unknown

State rent$1.1K
U.S. rent$1.4K
HUD_API_TOKEN missing; ACS median gross rent is used as the housing affordability fallback.

Federal Funds

$7.9K per resident

98

$419.9M

$419.9M in federal obligations flowed here in FY2025.

Vintage date unknown

State total$126.3B
U.S. total$5.3T

Population and output

Trend Snapshot

Reported share

Industry Breakdown

FY2025

Federal Money

Federal obligations

$419.9M

$7.9K per resident in reported federal flow.

Top agencies

Dollars
1. Social Security Administration$357.5M
2. Department of Veterans Affairs$37.0M
3. Department of Agriculture$13.3M

Top recipients

Dollars
1. REDACTED DUE TO PII$10.5M
2. TRANSPORTATION, MICHIGAN DEPARTMENT OF$7.2M
3. HUMAN DEVELOPMENT COMMISSION$3.4M

Affordable

Housing Affordability

21.7%

of median income

1BR estimate$617
2BR estimate$813
Median income$41,595
Median home value$102,700

ACS context

Quick Facts

Population

4,290

Median age

43.6

Bachelor's degree+

16.4%

Poverty rate

28.7%

Labor force participation

45.0%

Prime rate

6.8%

CPI YoY

+3.2%

U.S. GDP YoY

+6.5%

Sources and warnings

Data Provenance

Census ACS 5-year

2024

BLS LAUS / CPS

Latest available

BEA regional CAGDP1

2024

USAspending

FY2025

FRED

2026-07-30

HUD Fair Market Rent

Latest available

Data notes
  • HUD_API_TOKEN missing; ACS median gross rent is used as the housing affordability fallback.

5-year compound growth

Historical Trends

Population CAGR

+1.3%

GDP CAGR

+5.6%

Federal flow

5 years

Population (5 years)
20204,024
20214,318
20224,294
20234,284
20244,290
GDP (5 years)
2020$1.3B
2021$1.5B
2022$1.7B
2023$1.8B
2024$1.8B

2-year linear forecast

Predictive Outlook

Population forecast

20244,290
20254,391 *
20264,441 *

R² = 41.3% · * projected

GDP forecast

2024$1.8B
2025$1.9B *
2026$2.1B *

R² = 91.3% · * projected

Linear regression over available historical data. Projections are estimates based on past trends and do not account for policy changes, economic shocks, or other external factors.

housing affordability breakdown

Cost of Living

Median household income$41,595/yr
Median rent$753/mo
Rent share of income21.7%
Est. mortgage (30yr, 6.5%)$6,232/yr
Mortgage share of income15.0%

Rent data from Census ACS 5-year. Mortgage estimate assumes 20% down, 6.5% APR, 30-year fixed.

employment snapshot

Job Market

Unemployment rate9.1%
State avg5.7%
U.S. avg5.2%
Labor force participation45.0%
Poverty rate28.7%

Data from BLS LAUS / CPS. Latest available.

valuation snapshot

Real Estate

Median home value$102,700
Median monthly rent$753
Price-to-rent ratio11.4x

Low price-to-rent ratio — buying may be more favorable than renting in this market.

composite score

Investment Climate

Investment climateModerate
Composite score41/100
Economic growth36/100
Labor market0/100
Population momentum90/100
Overall stability48/100

Composite score weighs economic growth, labor market health, population momentum, and overall stability. Not financial advice.

Location Context

Caro city, Michigan

City/Town

Part of

Michigan

Nearby locations

Fairgrove, MIAkron, MIMayville, MIUnionville, MIVassar, MI