Mineral County Market Trends
Median Value of Occupied Housing Units in Mineral County, Colorado Over the Last 8 Years
Over the last eight years, Mineral County, Colorado has experienced a steady rise in median home values, peaking at $379,000 in 2022. This growth, while significant, still keeps the county's median values below the state median, which soared to $465,900 in the same year. Compared to national figures, which reached $179,400 in 2022, Mineral County's housing market appears significantly stronger. This consistent upward trend may appeal to investors and homebuyers considering the growing disparity between local and national housing market values.
Average Real Estate Taxes Per Tax Return in Mineral County, CO Over the Last 9 Years
Over the past nine years, real estate taxes per return in Mineral County, Colorado have shown a general upward trend despite some fluctuations. Starting at approximately $2,344.44 in 2012, the average tax per return fell to around $2,116.67 in 2013, but then steadily increased, reaching $3,600.00 by 2020. This sharp rise might be indicative of rising property values and an increased demand for real estate in the area, potentially making it a lucrative spot for investors and developers.
Number of Mortgages by Occupancy Type in Mineral County, CO Over the Last 5 Years in Mineral County
Over the last five years, Mineral County, Colorado, has seen dynamic shifts in mortgage patterns, particularly for principal and second residences. Notably, principal residence mortgages surged from 36 in 2018 to 66 in 2021, indicating increased permanent settlement. Conversely, the steadier numbers for investment property mortgages might imply stable but cautious investor interest. For those building, buying, or selling properties, these trends suggest a thriving but competitive residential market. Appraisers and insurance agents should consider these shifts, since they could affect property values and risk assessments. Real estate agents should note the high demand for principal residences, potentially prioritizing these over investment properties when advising clients.
Economic Outlook
Average Taxable Income per Tax Return in Mineral County, CO over the last 9 years
Mineral County, CO has seen a notable rise in average taxable income per tax return over the past nine years, peaking dramatically at $79,806.38 in 2021. This substantial increase from $56,154.76 in 2013 indicates a robust economic growth trend. Such an upward trajectory in income levels could be attractive to investors, potential property developers, and newcomers considering the county's promising economic outlook.
Average State and Local Income Taxes Per Tax Return in Mineral County, CO Over the Last 8 Years
Over the last eight years, Mineral County, CO, has seen significant fluctuations in average state and local income taxes per tax return, with a notable peak at $8,250.00 in 2019. This volatility impacts residents' budgeting and financial planning, making it a critical consideration for those looking to move to or currently residing in the area. Observing the trend can help predict future tax burdens and assist in making informed decisions on fiscal expectations.
Average Total Tax Liability Per Tax Return in Mineral County, CO Over the Last 10 Years
Mineral County, Colorado has seen notable fluctuations in average total tax liability per tax return over the past decade, peaking at $12,710.53 in 2021. Despite some years showing a decline, such as $7,229.41 in 2013, the general trend indicates an upward trajectory in tax liability. This could suggest an increase in average income levels and economic activity, which is valuable information for potential investors and those considering property developments in the area. Understanding these trends can provide insights into the county's financial stability and growth potential.
Cost of Living in Mineral County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,542 | $1,741 | $2,013 | $2,012 | $1,999 |
| 1 adult 4 children | $1,542 | $1,422 | $1,559 | $2,012 | $2,131 |
| 2 adults 3 children | $1,542 | $1,423 | $1,737 | $2,012 | $1,703 |
| 1 adult 3 children | $1,542 | $1,161 | $1,283 | $2,012 | $1,843 |
| 2 adults 2 children | $1,179 | $1,164 | $1,461 | $1,762 | $1,342 |
| 1 adult 2 children | $1,179 | $870 | $1,007 | $1,762 | $1,401 |
| 2 adults 1 child | $1,179 | $920 | $1,185 | $947 | $1,086 |
| 1 adult 1 child | $1,179 | $594 | $731 | $947 | $1,006 |
| 2 adults | $924 | $739 | $909 | $0 | $796 |
| 1 adult | $918 | $403 | $455 | $0 | $685 |
Demographics
Mineral County, Colorado's adult population revealed a nearly even split between males and females in 2022. Educational attainment data suggests a highly educated populace, with a notable chunk having bachelor's or higher degrees. Age distribution skews towards older adults, especially those aged 55 and up. The county's racial makeup is predominantly White, with marginal representation from other racial groups. Understanding these trends can be crucial for tailored community services and... Read more
Race Distribution in Mineral County, Colorado (2022)
Educational Attainment in Mineral County, Colorado (2022)
Age Distribution in Mineral County, Colorado
Citizen Population in Mineral County, Colorado (2022)
Political Trends & Data
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Mineral County in Colorado leaned predominantly Republican in the 2020 Presidential Election, with over half of the votes likely cast for the Republican candidate. The Democratic presence was notable but less dominant, accounting for a bit over 40% of the votes. Support for third parties such as the Libertarian Party and other minor parties was minimal, barely making an impact on the election outcome in this county.
56.48% of voters voted for the Republican party in the 2020 Presidential Election
41.93% of voters voted for the Democrat party in the 2020 Presidential Election
0.40% of voters voted for the Livertarian party in the 2020 Presidential Election
1.19% of voters voted for the Other party in the 2020 Presidential Election
School Data
Student-to-teacher ratio in Mineral County, Colorado over the last 10 years
The student-to-teacher ratio in Mineral County, Colorado, has generally trended lower over the past decade, hovering mostly between six and eight students per teacher. This ratio is consistently below the national average of 14 students per teacher, potentially indicating more personalized attention for students in this area. Such a low ratio could be a crucial factor for families looking to relocate, educators choosing where to work, and real estate agents marketing the county as an attractive place for families seeking quality education. Additionally, a lower student-to-teacher ratio might attract investors and developers interested in building family-oriented communities, as well as insurance agents assessing risks associated with educational infrastructure.
