OZ Pitch Day - June 13, 2024
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OZ Pitch Day - June 13, 2024
Census Tract 3, Iron River, Michigan
Census Tract 3 is a Low-Income CommunityOpportunity Zone located in Iron River, Michigan.
This 18 square milecensus tract has a population of approximately 2,600and is the only Opportunity Zone in Iron County.
The adjacent map shows the location of this Opportunity Zone in Michigan.
Census Tract 3 Demographics
The charts below illustrate how this Opportunity Zone compares to the broader city, county, and state on various socioeconomic indicators:
Median Household Income
$34K |
This Opportunity Zone has a median household incomeof approximately $34,000, which is 43% lowerthan the median household income for the state of Michigan of $60,000.
Poverty Rate
18% |
The percentage of households below the poverty line in this Opportunity Zone is 18%, which is 5% higherthan the rate for the state of Michigan of 13%.
Median Home Value
$60K |
This Opportunity Zone has a median home valueof approximately $60,000, which is 65% lowerthan the median home value for the state of Michigan of $170,000.
Education
90% |
This Opportunity Zone has a percentage of population with high school diplomaof approximately 90%, which is 1% lowerthan the rate for the state of Michigan of 91%.
Median Age
51 |
This Opportunity Zone has a median ageof approximately 51, which is 28% higherthan the median age for the state of Michigan of 40.
Michigan OZ Funds
There are 6QOZ Fundsin the OpportunityDb database with an investment objective that specifically identify Michiganas a target market. Additional OZ funds may also invest in Michigan; see a complete list of Opportunity Zone Funds here.
| Fund Name | Asset Classes | Property Types | Fund Size |
|---|---|---|---|
| Accredited Capital | Real Estate | Multi-Family Housing, Residential, Single-Family Housing | $25M |
| Beacon Rose Opportunity Zone Fund | Real Estate | Industrial, Mixed-Use, Multi-Family Housing, Residential, Student Housing | $100M |
| Community Outcome Fund | Business, Real Estate | Commercial, Infrastructure, Mixed-Use, Residential | $500M |
| Greatwater Opportunity Capital Detroit Opportunity Fund | Real Estate | Commercial, Mixed-Use, Multi-Family Housing, Residential | $100M |
| Urban Array Opportunity Fund | Business, Real Estate | Commercial, Office, Residential | $5M |
| Wefunder Detroit Opportunity Fund | Business | $100K |