Chaffee County Market Trends
Median Value of Occupied Housing Units in Chaffee County, Colorado Over the Last 8 Years
Median home values in Chaffee County, Colorado, have shown a significant uptick over the past eight years, climbing from $274,200 in 2015 to $514,900 in 2022. This trajectory not only outpaces the state of Colorado, which increased from $247,800 to $465,900 in the same period but also far exceeds the national median that went from $125,500 to $179,400. This relatively robust growth may interest prospective investors and homebuyers looking for areas with strong property value appreciation and could indicate a lucrative market for property builders in Chaffee County.
Residential Energy Tax Credit Per Tax Return in Chaffee County, CO Over the Last 9 Years
Over the last nine years, Chaffee County, Colorado has displayed a significant upward trend in average residential energy tax credits per tax return, surging from $918.75 in 2013 to an impressive $3,962.50 in 2018. Despite some fluctuations, the overall increase suggests a growing investment in energy-efficient home upgrades. For context, this increase highlights not only the effectiveness of tax incentives but also the rising commitment of residents towards sustainable living. This metric can be key for potential investors or homeowners looking to gauge the county's progressive stance on energy efficiency and sustainability.
Average Real Estate Taxes Per Tax Return in Chaffee County, CO Over the Last 10 Years
Real estate taxes per tax return in Chaffee County, Colorado have generally trended upward over the last decade, with notable increases in recent years. From $1,773.11 in 2012, taxes have steadily climbed to $3,042.68 by 2021, with a significant jump starting in 2018. This sharp rise could indicate growing property values and possibly an increase in demand for housing in the area. Potential investors and homebuyers might find these trends important when considering the long-term costs of property ownership in Chaffee County.
Percentage of Farm Returns in Chaffee County, CO Over the Last 10 Years
Chaffee County, Colorado has seen a gradual decline in the percentage of farm tax returns over the last decade, dropping from around 1.98% in 2012 to roughly 1.34% by 2021. Farm tax returns are documents that farmers file to report income and claim deductions related to farming activity. This downward trend may suggest shifts in the local economy or changes in land use, potentially impacting future agricultural investments and property development in the area. Consider these dynamics if you're thinking about investing in farmland or building agricultural properties in Chaffee County.
Number of Mortgages by Occupancy Type in Chaffee County, CO Over the Last 5 Years in Chaffee County
Mortgage activity in Chaffee County, Colorado shows significant fluctuations over the past five years, especially in the principal residence category, which peaked at 1861 in 2021. For investors and real estate agents, these changes hint at varying market conditions and potential shifts in buyer priorities, which could be driven by economic factors, lifestyle changes, or local policies. Insurance agents and appraisers might find these trends crucial as well since different occupancy types carry distinct risk profiles and valuation approaches. For prospective buyers eyeing second residences or investment properties, understanding these shifts could help gauge future market trends and inform better investment decisions.
Economic Outlook
Average Taxable Income per Tax Return in Chaffee County, CO over the last 9 years
Chaffee County, CO has experienced a notable upward trend in average taxable income per tax return over the past nine years, shooting up from $51,477.19 in 2013 to $96,153.96 in 2021. This significant increase highlights robust economic growth, making it an attractive location for potential investors and those looking to relocate. The sharp rise, especially post-2017, suggests a burgeoning economy with potential for future real estate developments and entrepreneurial opportunities.
Average State and Local Income Taxes Per Tax Return in Chaffee County, CO Over the Last 10 Years
Over the last decade, Chaffee County, CO has experienced a significant rise in average state and local income taxes per tax return, jumping from $4,126.32 in 2012 to $9,572.15 in 2021. This nearly doubling of tax obligations signals economic changes and possibly shifts in income levels within the county. Such trends could be crucial for potential new residents or current citizens evaluating the fiscal landscape and cost of living.
Average Total Tax Liability Per Tax Return in Chaffee County, CO Over the Last 10 Years
Over the past decade, Chaffee County, Colorado has seen a significant increase in the average total tax liability per tax return, surging from $7,333.86 in 2012 to $16,423.10 in 2021. This trend reflects a robust economic growth and rising incomes in the county, making it an attractive spot for investors and prospective residents. The steep jump in recent years, particularly from 2020 to 2021, suggests a dynamic economic shift, likely driven by increasing property values and business investments.
Cost of Living in Chaffee County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,545 | $1,488 | $2,013 | $2,012 | $1,761 |
| 1 adult 4 children | $1,545 | $1,215 | $1,559 | $2,012 | $1,900 |
| 2 adults 3 children | $1,545 | $1,216 | $1,737 | $2,012 | $1,487 |
| 1 adult 3 children | $1,545 | $992 | $1,283 | $2,012 | $1,644 |
| 2 adults 2 children | $1,176 | $995 | $1,461 | $1,762 | $1,167 |
| 1 adult 2 children | $1,176 | $743 | $1,007 | $1,762 | $1,222 |
| 2 adults 1 child | $1,176 | $786 | $1,185 | $947 | $975 |
| 1 adult 1 child | $1,176 | $508 | $731 | $947 | $849 |
| 2 adults | $1,041 | $632 | $909 | $0 | $722 |
| 1 adult | $861 | $345 | $455 | $0 | $594 |
Safety trends & Data
Property Crime Trends in Chaffee County, CO Over the Last 5 Years
Over the last five years, property crime trends in Chaffee County, Colorado reveal significant fluctuations. Larceny-theft instances spiked notably in 2019 at 102 reports but saw a gradual decrease down to 35 in 2022. Motor vehicle thefts peaked in 2020 with 16 cases, while vandalism incidents have generally declined from 26 in 2018 to 8 in 2022. Fraud and forgery-related crimes have remained relatively low but stable. For potential investors or residents, these trends might suggest a cautious yet improving outlook on property security in the area.
Demographics
Chaffee County's demographic patterns hint at a slightly higher population of males compared to females. In terms of educational attainment, a significant portion appears to possess at least some college education, with a notable number holding bachelor’s and graduate degrees. The age distribution seems to skew older, particularly in the 55 to 64 and 65 to 74 age brackets. Racially, the population is predominantly White, with minimal representation from other racial groups. This mix... Read more
Race Distribution in Chaffee County, Colorado (2022)
Educational Attainment in Chaffee County, Colorado (2022)
Age Distribution in Chaffee County, Colorado
Citizen Population in Chaffee County, Colorado (2022)
Political Trends & Data
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Chaffee County, Colorado, the 2020 U.S. Presidential Election results potentially indicate a slight favor towards Democratic candidates, with Democrats receiving approximately 52% of the vote, compared to Republicans at around 45%. Libertarians and other minor parties seem to have limited influence, collectively garnering less than 2.5% of the total vote share. These trends might suggest a relatively balanced political landscape with a potential Democratic tilt.
45.36% of voters voted for the Republican party in the 2020 Presidential Election
52.19% of voters voted for the Democrat party in the 2020 Presidential Election
1.38% of voters voted for the Livertarian party in the 2020 Presidential Election
0.34% of voters voted for the Green party in the 2020 Presidential Election
0.74% of voters voted for the Other party in the 2020 Presidential Election
School Data
Student-to-teacher ratio in Chaffee County, Colorado over the last 10 years
Over the past decade, Chaffee County, Colorado has seen significant fluctuations in its student-to-teacher ratio, ranging from a low of 11 students per teacher in 2018 to a high of 38 in 2021. Most years saw ratios either below or above the national average of 14 students per teacher, though 2019 and 2023 were closer to the average with ratios of 12 and 18, respectively. These swings could imply varying levels of individualized attention for students depending on the year, impacting educational quality and possibly influencing decisions by families considering a move to the area. For investors, real estate agents, and potential property builders, such data may be indicative of changing educational resources, which could affect property values and desirability. Insurance agents and appraisers may also find these trends useful for assessing risk and accurate valuation, given that educational quality can be a determining factor in neighborhood stability and market conditions.
