Elbert County Market Trends
Median Value of Occupied Housing Units in Elbert County, Colorado Over the Last 8 Years
Over the past eight years, Elbert County, Colorado, has seen a steady climb in median home values, jumping from $337,400 in 2015 to $623,300 in 2022. This outpaces both state and national growth rates, suggesting a unique appeal or burgeoning demand in the area. While Colorado's median home values rose from $247,800 to $465,900, and the national median only moved from $125,500 to $179,400 over the same period, Elbert County stands out for both investors and potential homebuyers eyeing the region.
Residential Energy Tax Credit Per Tax Return in Elbert County, CO Over the Last 9 Years
In Elbert County, Colorado, the average residential energy tax credit per tax return has shown significant variation over the past nine years, with notable spikes in specific years. For instance, residents saw a major increase in 2014 with an average of $1,190.91 and an even more substantial rise in 2018 at $4,825.00. These fluctuations highlight opportunities for homeowners and investors keen on energy efficiency improvements that can lead to substantial tax savings.
Average Real Estate Taxes Per Tax Return in Elbert County, CO Over the Last 10 Years
Over the past decade, Elbert County, Colorado has seen a notable rise in average real estate taxes per tax return, increasing from $2,258.22 in 2012 to $4,133.04 in 2021. This upward trend, particularly marked post-2016, could suggest growing property values or rising tax rates, making it relevant for potential investors, new residents, and current homeowners to understand these dynamics and plan financially for potential increases in property expenses. With the sharpest incline occurring between 2017 and 2020, stakeholders should approach investments with a cautious optimism, considering both the historical data and future projections.
Percentage of Farm Returns in Elbert County, CO Over the Last 10 Years
Elbert County, Colorado has seen a general decline in the percentage of farm tax returns over the last decade, dropping from approximately 7.56% in 2012 to around 5.39% in 2021. Farm tax returns, in this context, refer to special tax filings by farms, which could indicate the level of farming revenue relative to other county revenues. For investors or potential residents considering Elbert County, this trend could suggest a shift away from agricultural dominance in the local economy, potentially opening up opportunities in other sectors. An awareness of this decline may influence decisions on buying property, starting businesses, or understanding the county's economic health and its evolving nature.
Number of Mortgages by Occupancy Type in Elbert County, CO Over the Last 5 Years in Elbert County
Over the last five years in Elbert County, Colorado, there's been a noticeable decline in mortgage counts for both principal residences and investment properties, with principal residences seeing a sharp drop from 5,531 in 2020 to 2,896 in 2022. Investment properties also saw a downturn, decreasing from 96 in 2020 to 44 in 2022. The numbers for second residences have remained rather insignificant throughout this period. For investors, changes in occupancy types highlight shifting demand, which can impact property values and rental yields. For those moving to Elbert County, dwindling principal residence mortgages might indicate a cooling housing market. These trends could be critical for appraisers, real estate agents, and developers when forecasting property demand and for insurance agents assessing risk profiles.
Economic Outlook
Average Taxable Income per Tax Return in Elbert County, CO over the last 9 years
Elbert County, CO has seen a steady rise in average taxable income per tax return over the past nine years. Beginning at $78,155.72 in 2013, the average spiked to $115,739.55 by 2021. This consistent growth implies a thriving economic landscape, making the county an appealing destination for potential investors, property developers, and new residents looking for economic stability and opportunity.
Average State and Local Income Taxes Per Tax Return in Elbert County, CO Over the Last 10 Years
Elbert County, CO has seen a significant rise in state and local income taxes per tax return over the past decade, with figures increasing from $4,937.71 in 2012 to $10,859.21 in 2021. This trend indicates a nearly twofold increase in tax burden, suggesting substantial fiscal policy changes or shifts in local economic conditions. This escalation could impact both household budgets and the attractiveness of Elbert County for potential new residents evaluating their potential cost of living.
Average Total Tax Liability Per Tax Return in Elbert County, CO Over the Last 10 Years
Over the last decade, Elbert County, Colorado, has seen a consistent rise in average total tax liability per tax return, escalating from $12,056.71 in 2012 to $20,379.54 in 2021. This upward trend indicates a growing income base and possibly increased economic activity in the area, making it a compelling opportunity for potential investors and families looking to establish roots. The steady increase, despite fluctuations, is a sign of economic resilience and prosperity in Elbert County.
Cost of Living in Elbert County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,950 | $1,564 | $1,479 | $2,769 | $2,202 |
| 1 adult 4 children | $1,950 | $1,278 | $1,141 | $2,769 | $2,376 |
| 2 adults 3 children | $1,950 | $1,278 | $1,278 | $2,769 | $1,969 |
| 1 adult 3 children | $1,950 | $1,043 | $940 | $2,769 | $2,181 |
| 2 adults 2 children | $1,478 | $1,046 | $1,077 | $2,411 | $1,542 |
| 1 adult 2 children | $1,478 | $781 | $739 | $2,411 | $1,652 |
| 2 adults 1 child | $1,478 | $827 | $876 | $1,250 | $1,150 |
| 1 adult 1 child | $1,478 | $534 | $538 | $1,250 | $1,156 |
| 2 adults | $1,224 | $664 | $675 | $0 | $811 |
| 1 adult | $1,107 | $362 | $338 | $0 | $713 |
Safety trends & Data
Property Crime Trends in Elbert County, CO Over the Last 5 Years
Elbert County, located in Colorado, has exhibited some fluctuation in property crime rates over the past five years. Notably, vandalism incidents have shown a decline, with numbers dropping from 6 in 2018 to just 2 in 2022. Larceny-theft initially peaked at 9 in 2019 but decreased to 3 by 2022, indicating possible improvements in community vigilance or law enforcement effectiveness. Motor vehicle thefts, however, have remained relatively steady, suggesting persistent challenges in this area. For real estate agents, property investors, and potential residents, understanding these crime trends provides valuable insight into neighborhood safety and property value stability.
Demographics
Elbert County, Colorado, shows a nearly even split between male and female adults, hinting at a balanced gender demographic. The county has a strong showing of higher education attainment, with roughly 40% of adults holding a bachelor's degree or higher. Age distribution skews towards older adults, with those aged 55 to 64 making up the largest segment. The racial composition is predominantly White, accounting for well over 90% of the population, and very small percentages coming from other... Read more
Race Distribution in Elbert County, Colorado (2022)
Educational Attainment in Elbert County, Colorado (2022)
Age Distribution in Elbert County, Colorado
Citizen Population in Elbert County, Colorado (2022)
Political Trends & Data
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Elbert County, Colorado, might generally lean Republican, with approximately 74% of votes going to the Republican Party in the 2020 U.S. Presidential Election. Democrats secured nearly 24%, while votes for Libertarian, Green, and other parties were nominal. This suggests a strong conservative preference, although the presence of multiple parties indicates some level of political diversity.
73.89% of voters voted for the Republican party in the 2020 Presidential Election
23.65% of voters voted for the Democrat party in the 2020 Presidential Election
1.61% of voters voted for the Livertarian party in the 2020 Presidential Election
0.16% of voters voted for the Green party in the 2020 Presidential Election
0.68% of voters voted for the Other party in the 2020 Presidential Election
School Data
Student-to-teacher ratio in Elbert County, Colorado over the last 10 years
Over the last decade, Elbert County, Colorado has seen a significant fluctuation in its student-to-teacher ratio, peaking at 33 students per teacher in 2018 before dropping to around 21 in recent years. These trends could impact potential investors, residents, and real estate agents by reflecting on the county's educational resource allocation. A student-to-teacher ratio consistently above the national average of 14 suggests potential challenges in providing personalized attention to students, which might be a consideration for families moving to the area or for appraisers assessing property values in a county where schools may have larger class sizes. Moreover, understanding these trends is crucial for those planning to build properties or for insurance agents, as they provide an indirect glimpse into community growth and infrastructure demands.
