Gilpin County Market Trends
Median Value of Occupied Housing Units in Gilpin County, Colorado Over the Last 8 Years
Median home values in Gilpin County, Colorado, have seen impressive growth over the last eight years, jumping from $252,800 in 2015 to $465,300 in 2022. This steep rise outpaces both the Colorado state median, which increased from $247,800 to $465,900 and the national median, which grew from $125,500 to $179,400 during the same period. These trends suggest that Gilpin County might be an appealing prospect for investors and homebuyers looking for areas with robust property value appreciation in comparison to broader state and national metrics.
Residential Energy Tax Credit Per Tax Return in Gilpin County, CO Over the Last 8 Years
Gilpin County, Colorado has seen a significant increase in residential energy tax credits per tax return over the last eight years, indicating growing investments in energy-efficient home improvements. In 2013, the average credit was just $280.00, skyrocketing to $1,616.67 by 2021. This upward trend highlights a heightened local focus on sustainable living and energy savings, making it an attractive destination for eco-conscious investors, homebuyers, and builders. With such pronounced incentives, Gilpin County positions itself as a forward-thinking area for residential development and energy-efficient property enhancements.
Average Real Estate Taxes Per Tax Return in Gilpin County, CO Over the Last 10 Years
Over the last decade, average real estate taxes per tax return in Gilpin County, Colorado have seen notable fluctuations but a general upward trajectory. Starting at $1,354.95 in 2012 and consistently rising to $2,034.38 in both 2020 and 2021, the data suggests a steady increase, particularly sharp around 2018. This trend matters for potential investors or prospective residents as it indicates a rising cost of property ownership, which could reflect growing property values or changes in local tax policies. It's essential to consider these financial implications when assessing the long-term affordability and investment potential in this area.
Number of Mortgages by Occupancy Type in Gilpin County, CO Over the Last 5 Years in Gilpin County
Analyzing mortgage counts in Gilpin County, Colorado over the past five years reveals a noticeable fluctuation in principal residence originations, peaking in 2021 with 985 new mortgages and then dropping significantly to 498 in 2022. Investment properties have generally seen lower activity, peaking at 52 in 2021 but maintaining modest numbers otherwise. Second residences follow a similar trend, with slight increases and decreases. These shifts in occupancy type can impact local economic conditions, affecting property values, tax revenue, and community development. Investors and insurers should take note of the declining mortgage counts for primary homes, suggesting shifts in regional attractiveness or economic health, potentially opening opportunities or risks for long-term investments. Real estate developers might also need to adjust their strategies to better match current property demands, while residents could see changes in neighborhood demographics and services.
Economic Outlook
Average Taxable Income per Tax Return in Gilpin County, CO over the last 9 years
In Gilpin County, CO, the average taxable income per tax return has seen a generally upward trend over the past nine years, rising from $58,879.85 in 2013 to $86,136.49 in 2021. Notable increments occurred in recent years, particularly between 2018 and 2021, where the average income jumped by over $15,000. This surge implies a robust economic growth in the area, making it an attractive spot for potential investors and new residents, adding significant value to properties and local businesses.
Average State and Local Income Taxes Per Tax Return in Gilpin County, CO Over the Last 10 Years
Over the past decade, average state and local income taxes per tax return in Gilpin County, CO have shown a general upward trend, rising significantly from $3,861.90 in 2012 to $7,746.67 in 2021. This increase could indicate stronger economic growth or potentially higher tax burdens, affecting disposable income. Prospective residents should consider this pattern as it may impact their overall cost of living and financial planning in the county.
Average Total Tax Liability Per Tax Return in Gilpin County, CO Over the Last 10 Years
Over the last decade in Gilpin County, Colorado, the average total tax liability per tax return has shown a clear upward trajectory. Starting at $8,795.59 in 2012, it had modest increases year over year, peaking dramatically at $13,393.77 in 2021. The spike in recent years could indicate rising incomes or property values, reflecting an increasingly affluent population and potentially making the county a hotspot for investors and affluent relocators.
Cost of Living in Gilpin County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,948 | $1,661 | $1,479 | $2,769 | $2,226 |
| 1 adult 4 children | $1,948 | $1,356 | $1,141 | $2,769 | $2,387 |
| 2 adults 3 children | $1,948 | $1,357 | $1,278 | $2,769 | $1,984 |
| 1 adult 3 children | $1,948 | $1,108 | $940 | $2,769 | $2,185 |
| 2 adults 2 children | $1,476 | $1,111 | $1,077 | $2,411 | $1,549 |
| 1 adult 2 children | $1,476 | $830 | $739 | $2,411 | $1,648 |
| 2 adults 1 child | $1,476 | $878 | $876 | $1,250 | $1,149 |
| 1 adult 1 child | $1,476 | $567 | $538 | $1,250 | $1,143 |
| 2 adults | $1,223 | $705 | $675 | $0 | $806 |
| 1 adult | $1,106 | $385 | $338 | $0 | $698 |
Safety trends & Data
Property Crime Trends in Gilpin County, CO Over the Last 5 Years
Gilpin County, Colorado, has seen fluctuating property crime trends over the past five years, with notable shifts in various crime categories. Larceny-theft incidents have surged, touching 109 in 2022 compared to 57 in 2020, while burglary also rose to 6 in 2022 from just 2 in 2020, suggesting a mixed residential and commercial vulnerability. Motor vehicle theft remained relatively low but constant, indicating perhaps targeted or opportunistic theft patterns. Fraud and vandalism have had slight changes, with fraud peaking at 20 in 2018 and vandalism up to 22 in 2022, possibly reflecting evolving local crime dynamics. This data is crucial for investors, appraisers, and residents considering the security landscape when appraising property values or deciding to move to the area.
Demographics
Gilpin County, Colorado, has a somewhat balanced gender population with a slight male majority. The area shows an interesting educational landscape, where a significant portion holds at least a high school diploma, with a notable number of residents having attained bachelor's and graduate degrees, illustrating a potentially well-educated community. The age distribution skews older, with substantial segments in the 45-64 age ranges, which might influence local services and community planning.... Read more
Race Distribution in Gilpin County, Colorado (2022)
Educational Attainment in Gilpin County, Colorado (2022)
Age Distribution in Gilpin County, Colorado
Citizen Population in Gilpin County, Colorado (2022)
Political Trends & Data
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Gilpin County in Colorado showed a slight lead for the Democratic party with approximately 53% of the vote, compared to around 44% for the Republicans. Minor parties, including the Libertarian and Green parties, garnered minimal support, together accounting for roughly 2% of the votes. The remaining share went to other parties or candidates. This distribution hints at a generally competitive political landscape with a potential slight Democratic inclination.
43.79% of voters voted for the Republican party in the 2020 Presidential Election
53.11% of voters voted for the Democrat party in the 2020 Presidential Election
1.67% of voters voted for the Livertarian party in the 2020 Presidential Election
0.41% of voters voted for the Green party in the 2020 Presidential Election
1.03% of voters voted for the Other party in the 2020 Presidential Election
School Data
Student-to-teacher ratio in Gilpin County, Colorado over the last 10 years
Gilpin County, Colorado's student-to-teacher ratio has fluctuated over the last decade, generally remaining close to the national average of fourteen students per teacher. Peak ratios occurred in 2018 and 2019, hitting around fourteen, while dips in 2014, 2015, and 2023 saw more favorable counts, such as roughly twelve students per teacher. Investors, potential residents, real estate agents, and others with an interest in the area might see these fluctuations as indicative of stable, manageable class sizes which can be appealing for families considering relocation. Appraisers and insurance agents could also factor these stable educational resources into their property evaluations, potentially affecting market values and policy rates.
