Boone County Real Estate and Livability Trends
Boone County, Arkansas, has seen a dramatic increase in economic and real estate activity. Average taxable income per tax return surged from $43,350.69 in 2013 to $57,848.21 in 2021, suggesting a stronger local economy and better financial opportunities. Median home values leaped from $111,700 in 2015 to $158,100 in 2022, outpacing wider trends and making it a potentially lucrative market for... Read more
Boone County Market Trends
Median home values in Boone County, Arkansas have surged from $111,700 in 2015 to $158,100 in 2022, outpacing state and national trends. The average residential energy tax credit per tax return has seen hefty fluctuations, peaking at $4,350.00 in 2018, which may interest investors focused on energy-efficient upgrades. Real estate taxes rose significantly from $1,272.79 in 2012 to $2,393.88 in... Read more
Median Value of Occupied Housing Units in Boone County, Arkansas Over the Last 8 Years
Median home values in Boone County, Arkansas have shown steady growth over the past eight years, jumping from $111,700 in 2015 to $158,100 in 2022. While this increase is generally consistent with broader state and national trends, Boone County’s values have escalated more significantly in proportion, particularly in the past couple of years. Compared to the 2022 median home value in Arkansas at $162,400 and the national median of $179,400, Boone County presents a relatively more affordable yet increasingly lucrative market, making it potentially appealing for investors, new residents, and property developers alike.
Residential Energy Tax Credit Per Tax Return in Boone County, AR Over the Last 9 Years
Boone County, Arkansas has seen significant fluctuations in the average residential energy tax credit per tax return over the last nine years. Starting at $353.85 in 2013, the credit spiked dramatically to $4,350.00 in 2018 before settling at $1,800.00 in 2021. These variations can attract investors interested in energy-efficient solutions and property developers focusing on sustainability.
Average Real Estate Taxes Per Tax Return in Boone County, AR Over the Last 10 Years
Over the past decade, Boone County, Arkansas has seen a notable increase in average real estate taxes per tax return, climbing from $1,272.79 in 2012 to $2,393.88 in 2021. Significant jumps occurred between 2017 and 2018, where the value rose from approximately $1,561 to $2,190, and this upward trend continued steadily afterward. For investors or prospective homebuyers, this may indicate a rising property valuation, suggesting potential long-term value growth in the region. However, current residents might experience increased financial obligations tied to property ownership.
Percentage of Farm Returns in Boone County, AR Over the Last 10 Years
In Boone County, Arkansas, farm tax returns over the last decade have shown variability, ranging from a high of 9.07% in 2013 to a decade-low of 8.05% in 2020. This percentage mirrors the overall economic health and population relying on agriculture. Despite fluctuations, the steady numbers around the 8-9% range indicate relatively stable agricultural activity. Farm tax returns reflect the economic contributions of farming, affecting investment opportunities, local real estate markets, and the viability of agricultural entrepreneurship in the area. This steadiness may appeal to potential investors or new residents looking for agricultural investment stability.
Number of Mortgages by Occupancy Type in Boone County, AR Over the Last 5 Years in Boone County
Over the past five years in Boone County, Arkansas, the predominant trend in mortgage types has consistently favored principal residences, with a significant lead over both investment and second residences. Notably, 2020 and 2021 saw the highest counts for principal residences, peaking at over 2,000 mortgages each year. On the other hand, mortgages for investment properties and second residences remained relatively low and steady, with minor fluctuations. These dynamics are crucial for investors and real estate professionals as they underscore a stable demand for primary homes, potentially indicating a less speculative market. For appraisers and insurance agents, understanding these trends aids in accurate valuation and risk assessment, influencing policy pricing and coverage options. Moreover, if building or moving to the area, knowing the preponderance of principal residences might suggest a family-oriented community with sustained long-term occupancy, potentially impacting future property developments and local amenities planning.
Economic Outlook
Boone County, Arkansas, has shown noteworthy economic development over the past decade, with average taxable income per tax return climbing from $43,350.69 in 2013 to $57,848.21 in 2021. This increase in average incomes ties into a more robust local economy, which could be a draw for folks looking for better financial opportunities. Parallel to this, average state and local income taxes per tax return leaped from $5,738.29 in 2012 to $12,564.58 in 2021, particularly rising sharply around 2018,... Read more
Average Taxable Income per Tax Return in Boone County, AR over the last 9 years
Boone County, AR has experienced a steady rise in average taxable income per tax return over the past nine years, moving from $43,350.69 in 2013 to $57,848.21 in 2021. This consistent growth reflects a strengthening local economy, which can be attractive for new residents considering relocation for better financial opportunities.
Average State and Local Income Taxes Per Tax Return in Boone County, AR Over the Last 10 Years
Boone County, AR has seen a significant rise in average state and local income taxes per tax return over the past decade. Starting at $5,738.29 in 2012, the figure has more than doubled to $12,564.58 by 2021. Notably, there was a sharp increase around 2018, indicating a major shift in the financial landscape for residents. This upward trend is crucial for potential movers and current residents to consider, as it reflects growing fiscal responsibilities in the area.
Average Total Tax Liability Per Tax Return in Boone County, AR Over the Last 10 Years
Boone County, Arkansas has seen a generally upward trend in average total tax liability per tax return over the past decade, climbing from around $6,030.31 in 2012 to approximately $8,157.71 in 2021. Notable jumps occurred in 2016 and 2020, suggesting peaks in higher incomes or increased taxable events in those years. For those considering investments or relocations, this signifies a growing economic landscape with rising individual tax contributions, pointing to possibly higher incomes or improved fiscal health in the area.
Cost of Living in Boone County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,023 | $1,367 | $1,862 | $966 | $1,011 |
| 1 adult 4 children | $1,023 | $1,117 | $1,425 | $966 | $1,149 |
| 2 adults 3 children | $1,023 | $1,117 | $1,616 | $966 | $796 |
| 1 adult 3 children | $1,023 | $912 | $1,178 | $966 | $859 |
| 2 adults 2 children | $720 | $914 | $1,369 | $839 | $667 |
| 1 adult 2 children | $720 | $683 | $931 | $839 | $612 |
| 2 adults 1 child | $720 | $723 | $1,122 | $426 | $636 |
| 1 adult 1 child | $720 | $467 | $684 | $426 | $551 |
| 2 adults | $594 | $581 | $875 | $0 | $538 |
| 1 adult | $539 | $317 | $438 | $0 | $496 |
Safety trends & Data
Property crime in Boone County, Arkansas, has seen notable fluctuations over the past five years. Larceny-theft remains the most common, peaking at 147 cases in 2018. Burglary numbers have varied, with a low point of 11 cases in 2021 and a resurgence to 20 in 2022. While arson and motor vehicle theft are relatively rare, their consistency might suggest low-risk factors for investors. The general downward trend in more severe crimes like fraud and forgery could make the area more attractive to... Read more
Property Crime Trends in Boone County, AR Over the Last 5 Years
Over the past five years, property crime in Boone County, Arkansas has shown some noticeable trends. Larceny-theft has consistently been the most frequent crime, peaking at 147 reported cases in 2018 and seeing fluctuations since then. Burglary numbers have varied significantly, with a high of 29 cases in 2019 but dropping to 11 in 2021, only to rise again to 20 in 2022. Arson remains relatively rare, with the highest count being just 4 in 2019. Motor vehicle theft has remained low, peaking slightly at 8 incidents in 2019. Instances of fraud and forgery have generally trended downward. For those considering investment or property development in Boone County, these statistics might suggest a community experiencing modest crime reductions, particularly in more severe categories. This could be appealing to new residents, real estate agents, and local businesses looking for a secure environment.
Demographics
Boone County, Arkansas, exhibits intriguing demographic patterns worth exploring. The adult population is nearly balanced between males and females, suggesting a fairly equal gender distribution. Education levels are diverse, with a significant portion having completed high school, and a smaller but noteworthy group holding bachelor's and advanced degrees, possibly hinting at educational mobility. The age distribution skews towards older demographics, with more residents aged 55 and above,... Read more
Race Distribution in Boone County, Arkansas (2022)
Educational Attainment in Boone County, Arkansas (2022)
Age Distribution in Boone County, Arkansas
Citizen Population in Boone County, Arkansas (2022)
Political Trends & Data
Boone County, Arkansas, shows a notable preference for the Republican Party in recent elections, which implies a largely conservative local electorate. Democratic support appears minimal, with minor parties such as the Libertarian and Green parties receiving only small fractions of votes. This trend may influence local real estate, as political leanings often shape community characteristics and... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Boone County, Arkansas exhibits a strong inclination towards the Republican Party, which could suggest a predominantly conservative voter base. The Democratic Party garnered a significantly lower percentage, indicating limited support. Minor parties like the Libertarian and Green parties secured negligible portions of the vote, highlighting the dominant two-party system in the area.
79.77% of voters voted for the Republican party in the 2020 Presidential Election
17.90% of voters voted for the Democrat party in the 2020 Presidential Election
0.89% of voters voted for the Livertarian party in the 2020 Presidential Election
0.32% of voters voted for the Green party in the 2020 Presidential Election
1.11% of voters voted for the Other party in the 2020 Presidential Election
School Data
Boone County, Arkansas has seen its student-to-teacher ratio drop from 14:1 in 2014 to 12:1 in 2023. This lower ratio might indicate smaller class sizes, often attractive to families seeking more personalized attention for their children. Since the national average hovers around 14:1, Boone County's schools appear to offer a more favorable environment for individualized instruction, making it a notable consideration for those relocating or investing in the... Read more
Student-to-teacher ratio in Boone County, Arkansas over the last 10 years
Boone County, Arkansas has seen a consistent decline in the student-to-teacher ratio over the past decade, dropping from around 14 students per teacher in 2014 to about 12 in 2023. This trend of lower ratios potentially indicates smaller class sizes, which could appeal to families seeking more personalized attention for their children. With the current national average at around 14 students per teacher, Boone County schools seem to offer a more favorable environment for individualized instruction, presenting a notable advantage for those considering relocating to or investing in the area.
