Chicot County Real Estate and Livability Trends
Chicot County, Arkansas has witnessed its average taxable income jump from $38,603.10 in 2013 to $52,139.78 in 2021. Despite fluctuations in state and local income taxes, the median home value climbed consistently, peaking at $88,100 in 2022. This is significantly lower than both state and national medians, potentially offering a lower-cost entry for investors. Meanwhile, the student-to-teacher... Read more
Chicot County Market Trends
Chicot County, Arkansas has experienced a consistent rise in median home values over the last eight years, peaking in 2022 at $88,100. This places it well below both the state median of $162,400 and the national median of $179,400, suggesting a lower entry point for potential investors. Homeowners also saw a dramatic spike in residential energy tax credits, peaking at $1,500.00 in 2019,... Read more
Median Value of Occupied Housing Units in Chicot County, Arkansas Over the Last 8 Years
Chicot County, Arkansas has seen a consistent rise in median home values over the last eight years, with a peak in 2022 at $88,100. This trend, while showing substantial growth, places the county significantly below both the state median of $162,400 and the national median of $179,400 in 2022. For potential investors or those considering a move, the lower entry point compared to broader markets suggests potential for value appreciation, especially given the overall upward trajectory.
Residential Energy Tax Credit Per Tax Return in Chicot County, AR Over the Last 9 Years
Chicot County, Arkansas has seen significant fluctuations in the average residential energy tax credit per tax return over the past nine years. After a steady drop from $483.33 in 2013 to $233.33 in 2017, the credits saw a dramatic spike, peaking at $1,500.00 in 2019. This indicates a growing emphasis on energy efficiency and possibly larger investments in energy-saving measures by homeowners. For investors, builders, or potential movers, these trends suggest a region increasingly focused on sustainable living solutions, potentially leading to better long-term cost savings and enhanced property values.
Average Real Estate Taxes Per Tax Return in Chicot County, AR Over the Last 10 Years
Over the last decade, Chicot County, Arkansas, has experienced a noticeable increase in average real estate taxes per tax return, climbing from approximately $1,362.50 in 2012 to $2,127.27 in 2021. The most significant jumps occurred between 2017 and 2019, suggesting a possible shift in property values or tax rates during that period. Potential investors and prospective property owners should be aware of this upward trend when making financial plans. Understanding these fluctuations could be crucial for long-term budgeting and valuation projections.
Percentage of Farm Returns in Chicot County, AR Over the Last 10 Years
Over the last decade, Chicot County, Arkansas has seen farm tax returns fluctuating around 4% to 5% without any seismic shifts. Farm tax returns are crucial documents filed by farmers that report income and expenses related to farming. Notably, the percentage has slightly dipped to around 4.01% in 2021 from 4.46% in 2012, indicating minor fluctuations. This could mean relatively stable agricultural activity with some variability, impacting decisions for investments, property development, and overall economic forecasting in this rural area known for its farming.
Number of Mortgages by Occupancy Type in Chicot County, AR Over the Last 5 Years in Chicot County
In Chicot County, Arkansas, the mortgage trends over the past five years indicate a predominant focus on principal residences, with mortgage counts peaking in 2021 at 279 before dropping to 208 in 2022. Investment properties and second residences have maintained relatively stable, lower figures. Changes in the occupancy type distribution can provide crucial insights for potential investors, builders, and real estate agents. A noticeable shift towards principal residence mortgages might suggest increasing local population stability and demand for permanent housing, impacting property values and market strategies. For insurance agents and appraisers, understanding these trends can inform risk assessments and property valuations more accurately.
Economic Outlook
Chicot County, Arkansas has seen its average taxable income per tax return climb from $38,603.10 in 2013 to $52,139.78 in 2021, signaling economic improvement and increased earning potential. However, state and local income taxes have shown considerable fluctuations, peaking at $11,958.33 in 2020 before decreasing to $8,350.00 in 2021, making tax variability an important factor to consider. The total tax liability has also risen significantly, exceeding $9,100 in recent years, pointing to an... Read more
Average Taxable Income per Tax Return in Chicot County, AR over the last 9 years
In Chicot County, AR, the average taxable income per tax return has shown significant growth over the past nine years, increasing from $38,603.10 in 2013 to $52,139.78 in 2021. This upward trend indicates economic improvement and rising earnings, making the area an attractive option for investors and new residents alike. The consistent rise, especially the notable jump in 2020 and 2021, suggests a potentially thriving local economy, presenting opportunities for property development and business ventures.
Average State and Local Income Taxes Per Tax Return in Chicot County, AR Over the Last 10 Years
Chicot County, AR has experienced significant variability in state and local income taxes per tax return over the past decade. Starting from $7,322.41 in 2012, these taxes saw a dip to $6,562.96 in 2015, followed by a notable spike to $11,958.33 in 2020. While the most recent data for 2021 shows a decrease to $8,350.00, the trend highlights the importance of considering tax fluctuations for financial planning and cost of living assessment in the county.
Average Total Tax Liability Per Tax Return in Chicot County, AR Over the Last 10 Years
Over the last decade, Chicot County, Arkansas has seen a noticeable upward trend in the average total tax liability per tax return, peaking significantly in 2020 and 2021 at over $9,100. This trend suggests an escalating financial burden on residents, which could reflect broader economic conditions or changes in local tax policies, making it a crucial factor for prospective investors and homeowners to consider.
Cost of Living in Chicot County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $976 | $1,351 | $1,862 | $966 | $983 |
| 1 adult 4 children | $976 | $1,103 | $1,425 | $966 | $1,117 |
| 2 adults 3 children | $976 | $1,104 | $1,616 | $966 | $774 |
| 1 adult 3 children | $976 | $901 | $1,178 | $966 | $828 |
| 2 adults 2 children | $720 | $904 | $1,369 | $839 | $661 |
| 1 adult 2 children | $720 | $675 | $931 | $839 | $605 |
| 2 adults 1 child | $720 | $714 | $1,122 | $426 | $628 |
| 1 adult 1 child | $720 | $461 | $684 | $426 | $540 |
| 2 adults | $547 | $574 | $875 | $0 | $513 |
| 1 adult | $543 | $313 | $438 | $0 | $482 |
Safety trends & Data
Property crime in Chicot County, Arkansas, has shown notable fluctuations, with larceny-theft peaking at 15 incidents in 2018, dipping in 2020, but rising to 11 in 2022. Burglary incidents also spiked in 2018 and 2022, potentially indicating vulnerabilities in property security. Vandalism remained steady but saw a major decrease after 2018. Sporadic fraud and arson cases appear less frequently. These patterns might suggest evolving criminal behavior, affecting investment risks and insurance... Read more
Property Crime Trends in Chicot County, AR Over the Last 5 Years
Property crime in Chicot County, Arkansas, shows a fluctuating yet notable trend over the last five years. Larceny-theft, the most prevalent crime, peaked at 15 incidents in 2018, dipped significantly in 2020, but surged again to 11 in 2022. Burglary incidents spiked in 2018 and again in 2022, indicating potential vulnerabilities in property security. Vandalism remained relatively steady but saw a major decrease post-2018. Sporadic fraud and arson cases appear, but they are less frequent. These trends might suggest evolving criminal behavior, impacting investment risks and insurance premiums in the area.
Demographics
Chicot County, Arkansas, showcases a balanced gender composition among adults and a diverse educational background with most residents having at least a high school diploma. The age distribution leans toward a mature demographic, notably with a substantial portion between 55 to 64 years old. Racial diversity is apparent, though the county has a significant predominance of Black or African American individuals, constituting the largest racial... Read more
Race Distribution in Chicot County, Arkansas (2022)
Educational Attainment in Chicot County, Arkansas (2022)
Age Distribution in Chicot County, Arkansas
Citizen Population in Chicot County, Arkansas (2022)
Political Trends & Data
In Chicot County, Arkansas, the 2020 U.S. Presidential Election results indicated a slight Democratic preference, with about 55% of votes for the Democratic Party and roughly 43% for the Republican Party. Minor parties, including the Libertarian and Green parties, captured around 1.6% of the vote. This lean towards Democratic candidates could influence local political dynamics and future policy decisions, while the presence of minor parties suggests a possibility for diverse political... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Chicot County, Arkansas, the 2020 U.S. Presidential Election saw a slight majority of votes leaning towards the Democratic Party, garnering approximately 55%, while the Republican Party received roughly 43%. Minor parties, such as the Libertarian and Green parties, collectively captured about 1.6% of the vote. The data hints at a modest preference for Democratic candidates in this county, which could be indicative of local political dynamics that may impact future elections and policy decisions. The presence of "Other" voices, although small, suggests a potential for varied political perspectives.
42.70% of voters voted for the Republican party in the 2020 Presidential Election
55.08% of voters voted for the Democrat party in the 2020 Presidential Election
0.41% of voters voted for the Livertarian party in the 2020 Presidential Election
0.12% of voters voted for the Green party in the 2020 Presidential Election
1.68% of voters voted for the Other party in the 2020 Presidential Election
School Data
Chicot County, Arkansas has seen its student-to-teacher ratio drop from just over eleven in 2014 to about seven in 2023, well below the national average of fourteen. This trend suggests a strong investment in education, potentially making the area more appealing to families. For real estate agents, this is a selling point, while builders might see an opportunity to develop housing for young families or educational... Read more
Student-to-teacher ratio in Chicot County, Arkansas over the last 10 years
Over the past decade, Chicot County, Arkansas has consistently seen a decline in its student-to-teacher ratio, dropping from just over eleven in 2014 to about seven in 2023. This steady decrease suggests that Chicot County enjoys more personalized attention for students compared to the national average of fourteen students per teacher. For potential investors or those considering moving to the area, this could signal a strong investment in education and an appealing environment for families. For real estate agents and appraisers, this trend could be leveraged as a selling point, while insurance agents might factor in the potential for community stability and lower crime rates often associated with better educational outcomes. Builders and developers might see this as an opportunity to cater to young families or educational professionals.
