Nome Census Area Real Estate and Livability Trends
Nome Census Area, Alaska has witnessed a notable rise in average taxable income per tax return, climbing from $44,603.33 in 2013 to $61,240.29 by 2021, likely reflecting stronger local economic conditions. Real estate trends are equally interesting, with median home values jumping from $123,500 in 2015 to $181,300 in 2022, while property taxes surged from $2,595.45 in 2012 to $4,560.00 in 2021. A... Read more
Nome Census Area Market Trends
In Nome Census Area, Alaska, median home values have climbed from $123,500 in 2015 to $181,300 in 2022, remaining below the state median of $318,000, but close to the national median of $179,400. Real estate taxes have notably increased from $2,595.45 in 2012 to $4,560.00 in 2021, pointing to either rising property values or higher tax rates. Principal residence mortgages have surged in recent... Read more
Median Value of Occupied Housing Units in Nome Census Area, Alaska Over the Last 8 Years
Those eyeing Nome Census Area, Alaska for their next investment or relocation might find the median home values pretty enticing. Over the past eight years, median values have incrementally risen from $123,500 in 2015 to a recent $181,300 in 2022. That’s substantial growth, though historically lower than the statewide median, which hit $318,000 in 2022. Comparing this to the national median of $179,400 in 2022, Nome Census Area prices are more accessible, making it relatively competitive for investors or those seeking more affordable housing options within the state.
Residential Energy Tax Credit Per Tax Return in Nome Census Area, AK Over the Last 3 Years
In Nome Census Area, Alaska, the average residential energy tax credit per tax return has seen fluctuations over the past few years, with a notable dip in 2014 to $200.00 from $300.00 in 2013, followed by a recovery to $250.00 in 2016. This variability highlights potential shifts in either energy efficiency investments or changes in policy incentives, making it important for investors and builders to stay informed on current and forthcoming energy initiatives in the area.
Average Real Estate Taxes Per Tax Return in Nome Census Area, AK Over the Last 10 Years
Over the past decade, average real estate taxes per tax return in the Nome Census Area, Alaska, have shown a marked increase, especially peaking in recent years. From $2,595.45 in 2012, the taxes surged to a high of $5,333.33 in 2019 before slightly tapering off to $4,560.00 by 2021. This rising trend might indicate increasing property values or changes in tax rates, which is essential for investors, property developers, and potential residents to consider for financial planning and long-term investment strategies.
Number of Mortgages by Occupancy Type in Nome Census Area, AK Over the Last 5 Years in Nome Census Area
Over the past five years, the number of mortgages in Nome Census Area, Alaska has shown a marked preference for principal residences, with investment properties and second residences trailing significantly. Notable increases in principal residence mortgages in 2020 and 2021 suggest a growing demand for primary homes. For investors, this shift points to potential opportunities as residential demands stabilize or rise. Appraisers and insurance agents might see this as a signal to re-evaluate risk profiles and property values accordingly. Builders and real estate agents can leverage this trend to align their strategies, focusing on primary residence developments to meet the apparent market demand.
Economic Outlook
From 2013 to 2021, the average taxable income per tax return in Nome Census Area, Alaska increased notably from $44,603.33 to $61,240.29, with significant jumps post-2018 hinting at stronger local economic conditions. However, the area's state and local income taxes have seen volatility, spiking from $300.00 in 2012 to $800.00 in 2013, peaking again at $966.67 in 2017. Similarly, total tax liability fluctuated dramatically, peaking at $10,465.95 in 2020 and dipping to $7,688.85 in 2013. These... Read more
Average Taxable Income per Tax Return in Nome Census Area, AK over the last 9 years
From 2013 to 2021, the average taxable income per tax return in Nome Census Area, AK, has shown a steady upward trend, increasing from $44,603.33 to $61,240.29. Significant jumps were observed particularly from 2018 onwards, indicating potentially stronger economic conditions or higher earnings in these years. For potential residents or those considering moving to this area, this rising income trend could suggest a growing local economy and improving financial stability.
Average State and Local Income Taxes Per Tax Return in Nome Census Area, AK Over the Last 6 Years
Nome Census Area, AK has experienced significant fluctuations in average state and local income taxes per tax return over the last six years. From a low of $300.00 in 2012, taxes spiked to $800.00 in 2013, dropped to $400.00 in 2014, then saw another peak at $966.67 in 2017. This volatility indicates potential inconsistencies in tax policies or enforcement, which prospective residents should consider when evaluating long-term financial commitments in the area.
Average Total Tax Liability Per Tax Return in Nome Census Area, AK Over the Last 10 Years
The average total tax liability per tax return in Nome Census Area, Alaska has shown significant fluctuation over the last decade. Notably, there was a peak in 2020 with an average liability of $10,465.95 and a significant dip in 2013 at $7,688.85. These shifts reflect broader economic and policy changes, making Nome Census Area an interesting case study for understanding taxation trends in less populated regions. Potential investors and new residents should note that such variability may impact financial planning and return on investment.
Cost of Living in Nome Census Area
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $2,085 | $1,890 | $2,739 | $1,880 | $1,716 |
| 1 adult 4 children | $2,085 | $1,544 | $2,119 | $1,880 | $1,825 |
| 2 adults 3 children | $2,085 | $1,544 | $2,364 | $1,880 | $1,428 |
| 1 adult 3 children | $2,085 | $1,261 | $1,744 | $1,880 | $1,546 |
| 2 adults 2 children | $1,467 | $1,264 | $1,989 | $1,641 | $1,031 |
| 1 adult 2 children | $1,467 | $944 | $1,369 | $1,641 | $1,037 |
| 2 adults 1 child | $1,467 | $999 | $1,614 | $864 | $861 |
| 1 adult 1 child | $1,467 | $645 | $995 | $864 | $759 |
| 2 adults | $1,163 | $803 | $1,239 | $0 | $669 |
| 1 adult | $1,156 | $438 | $620 | $0 | $585 |
Safety trends & Data
Over the past five years, Nome Census Area in Alaska has shown fluctuating property crime rates. Larceny-theft peaked in 2020 at 14.0 incidents but has since generally decreased. Burglary saw a significant spike in 2019 at 8.0 incidents before falling considerably. Motor vehicle theft has stayed fairly steady with a slight increase in 2021 at 6.0 incidents. Vandalism, however, has been on the rise, hitting 9.0 cases in 2022. This dynamic crime landscape is something investors, residents, and... Read more
Property Crime Trends in Nome Census Area, AK Over the Last 5 Years
Over the past five years, property crimes in Nome Census Area, Alaska, have shown variability with certain trends. Larceny-Theft incidents peaked in 2020 at 14.0 but have generally decreased since then. Burglary showed a notable spike in 2019 at 8.0 but significantly decreased in subsequent years. Motor Vehicle Theft remained relatively consistent with a small peak in 2021 at 6.0. Occurrences of Vandalism have risen, reaching 9.0 cases in 2022. These trends suggest a shifting landscape of property crime that potential investors, residents, and professionals should be aware of when considering the area.
Demographics
The Nome Census Area shows a slight male majority, and a large portion of its population is relatively young, with significant numbers under 10 years old. Educationally, high school graduates make up the largest group, while only a smaller fraction has completed a graduate or professional degree. There appears to be a notable representation of American Indian and Alaska Native individuals, reflecting the area's cultural heritage. These trends might imply specific community needs such as... Read more
Race Distribution in Nome Census Area, Alaska (2022)
Educational Attainment in Nome Census Area, Alaska (2022)
Age Distribution in Nome Census Area, Alaska
Citizen Population in Nome Census Area, Alaska (2022)
School Data
The student-to-teacher ratio in Nome Census Area, Alaska, has seen significant changes, peaking at 18 in 2016 before dropping to around 13 by 2023. This suggests a shifting educational landscape that could be attractive for families prioritizing quality education, potentially driving demand in the local real estate market. Builders and real estate agents might see these trends as a signal to cater to family-centric developments, while the improved ratio may also positively influence property... Read more
Student-to-teacher ratio in Nome Census Area, Alaska over the last 10 years
The student-to-teacher ratio in Nome Census Area, Alaska, has fluctuated significantly over the last decade. It peaked at 18 in 2016, well above the current U.S. national average of 14 students per teacher. Since then, there's been a notable improvement, with the ratio dropping to around 13 by 2023. For interested investors or those considering a move, this suggests an evolving educational environment with potential benefits for student attention and performance. Builders and real estate agents might infer a growing appeal for families prioritizing education quality. This evolving ratio may also influence property appraisals and insurance assessments, as better education metrics often correlate with higher property value and lower risks.
