Monroe County Real Estate and Livability Trends
Monroe County, Alabama has a median home value that rose from $81,200 in 2015 to $109,300 in 2022, highlighting a market with growth potential despite being under state and national averages. Property and real estate tax rates experienced significant jumps in recent years, possibly reflecting changing economic conditions and property values. On the energy front, a spike in residential energy tax... Read more
Monroe County Market Trends
Monroe County, Alabama has experienced a notable rise in median home values over the past eight years, from $81,200 in 2015 to $109,300 in 2022. This upward trend, despite being below state and national averages, opens opportunities for investors targeting less saturated markets. On the energy front, there was a marked spike in residential energy tax credits in 2018, indicating heightened... Read more
Median Value of Occupied Housing Units in Monroe County, Alabama Over the Last 8 Years
Over the last eight years, median home values in Monroe County, Alabama have seen a steady rise, jumping from $81,200 in 2015 to $109,300 in 2022. This growth, although somewhat variable, demonstrates a stronger upward trend than historical averages, particularly notable given it still lags behind the state and national medians, which were $179,400 in 2022. This divergence may indicate localized market dynamics or untapped potential, providing interesting opportunities for investors looking to capitalize on less saturated markets. For current residents and prospective movers, the trend suggests appreciation in home values, which usually corresponds with improving neighborhood amenities and economic revitalization.
Residential Energy Tax Credit Per Tax Return in Monroe County, AL Over the Last 9 Years
Over the last nine years, Monroe County, Alabama has seen considerable fluctuations in average residential energy tax credits per tax return. Notably, there's a significant spike in 2018, where it soared to $1,200.00, indicating a temporary surge in energy-efficient investments or incentives. While the trend shows some volatility, the overall increase suggests growing awareness and investments in residential energy efficiency, making it an appealing aspect for potential property investors and homeowners looking to capitalize on energy tax credits.
Average Real Estate Taxes Per Tax Return in Monroe County, AL Over the Last 10 Years
In Monroe County, Alabama, average real estate taxes per tax return have seen notable fluctuations over the past decade. Starting at $728.24 in 2012, there was a gradual increase until 2017, reaching $817.12. A significant spike occurred in 2018 with taxes jumping to $1228.57, followed by a continued rise, peaking at $1529.17 in 2020. In 2021, a slight decrease brought the average to $1404.55. These changes may be indicative of evolving economic conditions, property values, or fiscal policies in the county, which potential investors or residents might find relevant.
Percentage of Farm Returns in Monroe County, AL Over the Last 10 Years
Farm tax returns in Monroe County, Alabama have consistently hovered around 5.5% to 6.1% over the past ten years. A near-constant trend with a small dip in 2017 at 5.47% suggests stability in the local agricultural sector. For investors and developers looking into rural properties or agribusiness, these trends indicate a relatively stable farming activity, offering a potentially reliable income source in the county's agricultural landscape.
Number of Mortgages by Occupancy Type in Monroe County, AL Over the Last 5 Years in Monroe County
Monroe County, Alabama has seen fluctuations in mortgage counts over the past five years, with principal residences consistently dominating the market. Investment properties have shown a slight decrease, especially in 2021, while second residences have remained relatively stable with a minor increase. These changes in occupancy types could influence investor interest, property values, and insurance premiums. For those moving to, investing in, or appraising property in the county, understanding these trends can provide insights into market stability and potential growth areas. Real estate agents and developers might find it useful to note the strong and consistent demand for principal residences when planning future projects.
Economic Outlook
Monroe County, Alabama has seen fluctuating but generally rising average taxable incomes over the past nine years, peaking at $50,532.55 in 2015 and again at $48,541.21 in 2021. Over the last decade, state and local income taxes have also risen notably, from $3,493.48 in 2012 to $5,812.00 in 2021, indicating increased financial demand on residents. The average total tax liability per tax return saw volatility too, with a peak of $8,796.48 in 2015 before settling at $6,396.56 in 2021, reflecting... Read more
Average Taxable Income per Tax Return in Monroe County, AL over the last 9 years
Monroe County, AL has seen fluctuating but generally rising average taxable incomes over the past nine years. Notable peaks occurred in 2015 at $50,532.55 and again in 2021 at $48,541.21, with lower dips such as 2016 at $44,997.61. These swings indicate a variable economic landscape, where temporary growth spurts intersperse with mild declines. This matters for potential residents as it suggests both opportunities for higher income and the necessity to plan for economic volatility.
Average State and Local Income Taxes Per Tax Return in Monroe County, AL Over the Last 10 Years
Over the last decade, Monroe County, AL has experienced a notable increase in the average state and local income taxes per tax return, rising from $3,493.48 in 2012 to $5,812.00 in 2021. This upward trend, particularly the significant jumps in 2018 and 2020, indicates a growing financial demand on residents. Prospective movers and current residents should be aware of these rising tax obligations, which could impact their overall cost of living and financial planning.
Average Total Tax Liability Per Tax Return in Monroe County, AL Over the Last 10 Years
Monroe County, Alabama has seen fluctuations in average total tax liability per tax return over the last decade, with a notable peak at $8,796.48 in 2015. Afterward, the liability trends downward with some variation, settling at $6,396.56 in 2021. This volatility can be crucial for potential investors, property developers, and residents as it reflects economic shifts that may impact personal finances and regional economic stability.
Cost of Living in Monroe County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,046 | $1,347 | $1,917 | $1,291 | $1,225 |
| 1 adult 4 children | $1,046 | $1,100 | $1,430 | $1,291 | $1,237 |
| 2 adults 3 children | $1,046 | $1,101 | $1,682 | $1,291 | $995 |
| 1 adult 3 children | $1,046 | $898 | $1,194 | $1,291 | $1,014 |
| 2 adults 2 children | $740 | $901 | $1,446 | $1,119 | $856 |
| 1 adult 2 children | $740 | $673 | $959 | $1,119 | $752 |
| 2 adults 1 child | $740 | $712 | $1,210 | $559 | $772 |
| 1 adult 1 child | $740 | $460 | $723 | $559 | $622 |
| 2 adults | $655 | $572 | $975 | $0 | $663 |
| 1 adult | $560 | $312 | $487 | $0 | $525 |
Safety trends & Data
Monroe County, Alabama's property crime landscape has shown variability over the past four years, with notable fluctuations in larceny-theft and motor vehicle theft. Larceny-theft incidents peaked at 7 in both 2018 and 2022, while motor vehicle thefts reached their highest at 4 in 2022. Interestingly, fraud cases saw a drastic drop from 9 in 2018 to just 2 by 2019, disappearing in later years. New crimes like forgery and arson surfaced in 2021 and 2022, each with a single registered incident.... Read more
Property Crime Trends in Monroe County, AL Over the Last 4 Years
Monroe County, Alabama saw varying trends in property crimes over the last four years. Larceny-theft and motor vehicle theft showed noticeable fluctuations, with larceny-theft incidents peaking at 7 in both 2018 and 2022, while motor vehicle thefts peaked at 4 in 2022. Notably, fraud cases significantly dropped from 9 in 2018 to just 2 by 2019 and did not reappear in subsequent years. New crime categories like forgery and arson emerged in 2021 and 2022, each registering a single incident. Real estate agents and property investors should be particularly aware of these trends, as fluctuating theft and vandalism rates could impact property values and insurance rates in the region.
Demographics
In Monroe County, Alabama, the adult population is skewed slightly higher towards females, with a split of around 8310 females to 7278 males. Educational attainment reveals a county where a significant portion, 6035 adults, have graduated high school, while advanced degrees are less common, with only 780 holding graduate or professional degrees. Age-wise, the county sees a notable concentration of residents in the 55 to 64 age range, approximately 2930 people, indicative of a potentially aging... Read more
Race Distribution in Monroe County, Alabama (2022)
Educational Attainment in Monroe County, Alabama (2022)
Age Distribution in Monroe County, Alabama
Citizen Population in Monroe County, Alabama (2022)
Political Trends & Data
In Monroe County, Alabama, the 2020 U.S. Presidential Election leaned Republican, capturing around 58% of the vote. Democrats still received notable support with approximately 42%. Third-party influence was minimal, with less than 1% of votes suggesting a strong two-party system dynamic in the... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Monroe County, Alabama, the 2020 U.S. Presidential Election results show a leaning towards the Republican party, with around 58% of the votes. The Democratic party seems to have garnered approximately 42%, indicating some level of support. There's virtually no presence or impact from third-party candidates, with less than 1% of votes going to other options, suggesting a strong two-party system dynamic in this county.
57.62% of voters voted for the Republican party in the 2020 Presidential Election
41.76% of voters voted for the Democrat party in the 2020 Presidential Election
0.62% of voters voted for the Other party in the 2020 Presidential Election
School Data
In Monroe County, Alabama, the student-to-teacher ratio has consistently been higher than the national average, peaking at 18 in 2016 and hovering around 17 more recently. This trend could signal larger class sizes, potentially affecting educational quality. Real estate stakeholders might view these metrics as influential on property values and community appeal, with possible ramifications for school funding, staffing, and insurance rates, all pivotal factors in home valuation and... Read more
Student-to-teacher ratio in Monroe County, Alabama over the last 10 years
Over the past decade, the student-to-teacher ratio in Monroe County, Alabama has fluctuated, peaking in 2016 at 18 before dipping slightly to around 17 in recent years. Comparatively, this ratio has often been higher than the national average of 14 students per teacher, which might indicate larger class sizes and potential impacts on individualized student attention. For investors, real estate agents, and newcomers, these changes could suggest variations in educational quality which might influence property values and community desirability. Higher student-to-teacher ratios could also impact school funding, staffing, and ultimately insurance rates. Appraisers should consider how these dynamics affect the livability and long-term value of homes in Monroe County.
