Phillips County Market Trends
Median Value of Occupied Housing Units in Phillips County, Colorado Over the Last 8 Years
Median home values in Phillips County, Colorado have more than doubled from 2015 to 2022, rising from $132,500 to $258,200. This upward trend outpaces the national median, which increased from $125,500 to $179,400 in the same period. Compared to the broader Colorado market, where values surged from $247,800 to $465,900, Phillips County remains more affordable. This growth suggests potential investment opportunities for those seeking relatively lower entry points within a rapidly appreciating region.
Residential Energy Tax Credit Per Tax Return in Phillips County, CO Over the Last 3 Years
Phillips County, Colorado, has seen significant fluctuations in residential energy tax credits per tax return over the last three years. In 2013, the average credit was $166.67, peaking in 2015 at $300.00, before settling at $233.33 in 2016. This volatility might signal changing energy efficiency measures or shifts in policy incentives, offering both opportunities and considerations for potential investors and residents focused on cost-effective and sustainable living solutions.
Average Real Estate Taxes Per Tax Return in Phillips County, CO Over the Last 10 Years
Over the past decade, real estate taxes per tax return in Phillips County, Colorado have shown significant fluctuations. Following a modest increase from $1,305.56 in 2012 to around $1,477.14 by 2017, there was a notable jump to $1,925 in 2018 and further spikes up to $2,333.33 by 2019, before dipping slightly to $2,280.00 in 2021. This volatility suggests varying economic factors at play, which could be relevant for potential investors and residents considering property investments and tax implications.
Percentage of Farm Returns in Phillips County, CO Over the Last 10 Years
Over the last decade, the percentage of farm tax returns in Phillips County, Colorado, has seen a steady decline from 16.5% in 2012 to around 12.87% in 2021. Farm tax returns are crucial indicators of agricultural activity and economic health in a rural county like Phillips. If you're considering investing, moving, or building property here, this downward trend might suggest a gradual shift in economic dynamics, potentially affecting land use and market opportunities. Given this context, it’s always wise to delve deeper into local economic reports and trends to better understand the potential risks and rewards.
Number of Mortgages by Occupancy Type in Phillips County, CO Over the Last 5 Years in Phillips County
Phillips County, Colorado has seen a notable increase in principal residence mortgages over the last five years, peaking in 2021 at 247 before a slight dip in 2022. Investment property mortgages, while lower in number, spiked significantly in 2022 to 17 from single digits in prior years. The consistency of second residence mortgages suggests a relatively stable demand in that category. Changes in occupancy type may have ripple effects on various facets of the local economy and real estate market; for instance, a rise in principal residences often signals growing community stability and can influence infrastructure investment, appraisals, and insurance rates. Investors looking to capitalize on rental or resale opportunities might find the increasing stakes for investment properties intriguing, albeit competitive.
Economic Outlook
Average Taxable Income per Tax Return in Phillips County, CO over the last 9 years
Phillips County, CO has experienced noticeable fluctuations in average taxable income per tax return over the past nine years. After a dip from $60,407.54 in 2013 to a low of $52,768.78 in 2016, the trend reversed, climaxing at $66,548.60 in 2021. This steady rebound, particularly post-2016, signals a resilient local economy, making Phillips County an enticing prospect for investors, potential residents, and property developers seeking growth and stability.
Average State and Local Income Taxes Per Tax Return in Phillips County, CO Over the Last 10 Years
Over the past decade, Phillips County, CO has experienced significant fluctuations in state and local income taxes per tax return, reaching a high of $9,650.00 in 2021. These varying tax rates could be indicative of economic changes and shifting financial responsibilities within the county, which might impact household budgets and the overall cost of living. For potential movers and current residents, understanding these trends is crucial as they could affect financial planning and economic stability.
Average Total Tax Liability Per Tax Return in Phillips County, CO Over the Last 10 Years
Phillips County, Colorado has seen a fluctuating trend in average total tax liability per tax return over the past decade. After peaking at $14,088.67 in 2012, the liability steadily decreased to a low of $7,764.90 by 2019. However, recent years indicate a rebound, with 2020 and 2021 showing increases to $9,254.55 and $10,034.88 respectively. This pattern suggests shifting economic factors and potential tax policy changes impacting residents’ financial responsibilities, making it an interesting area for evaluating investment and property development opportunities.
Cost of Living in Phillips County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,219 | $1,335 | $2,013 | $1,311 | $1,289 |
| 1 adult 4 children | $1,219 | $1,090 | $1,559 | $1,311 | $1,418 |
| 2 adults 3 children | $1,219 | $1,091 | $1,737 | $1,311 | $1,059 |
| 1 adult 3 children | $1,219 | $890 | $1,283 | $1,311 | $1,160 |
| 2 adults 2 children | $1,002 | $893 | $1,461 | $1,136 | $908 |
| 1 adult 2 children | $1,002 | $667 | $1,007 | $1,136 | $896 |
| 2 adults 1 child | $1,002 | $706 | $1,185 | $566 | $817 |
| 1 adult 1 child | $1,002 | $456 | $731 | $566 | $682 |
| 2 adults | $785 | $567 | $909 | $0 | $638 |
| 1 adult | $780 | $309 | $455 | $0 | $581 |
Safety trends & Data
Property Crime Trends in Phillips County, CO Over the Last 4 Years
Over the last four years, Phillips County, Colorado, has experienced fluctuating rates of property crime, with larceny-theft incidents peaking in 2019 at seven reported cases. While larceny-theft remains the most common crime, reports of motor vehicle theft and fraud have also shown varying frequencies, with notable occurrences in 2020. Prospective investors and residents may find these trends useful when assessing the area's safety and potential for property-related concerns. Additionally, insurances and real estate professionals should consider these crime statistics when advising clients on risk and neighborhood viability.
Demographics
Phillips County, Colorado has a slightly higher male population compared to females, suggesting a modest gender imbalance. The educational attainment shows a diverse spread, with a significant portion holding a high school diploma and a fair number having pursued higher education degrees. Age distribution is broad, but there's a noticeable concentration in the youngest and older adult demographics. The racial composition is overwhelmingly White, with very few residents from other racial... Read more
Race Distribution in Phillips County, Colorado (2022)
Educational Attainment in Phillips County, Colorado (2022)
Age Distribution in Phillips County, Colorado
Citizen Population in Phillips County, Colorado (2022)
Political Trends & Data
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Phillips County, Colorado, displayed a predominant Republican preference with nearly 79% of the vote in the 2020 U.S. Presidential Election. Democrats garnered around 20%, indicating that while the county is largely conservative, there is still some Democratic presence. Other parties, including the Libertarian and Green parties, achieved marginal support, barely surpassing the 1% mark collectively. These trends could suggest a strong partisan inclination with little room for third-party influence.
78.79% of voters voted for the Republican party in the 2020 Presidential Election
19.56% of voters voted for the Democrat party in the 2020 Presidential Election
0.97% of voters voted for the Livertarian party in the 2020 Presidential Election
0.28% of voters voted for the Green party in the 2020 Presidential Election
0.40% of voters voted for the Other party in the 2020 Presidential Election
School Data
Student-to-teacher ratio in Phillips County, Colorado over the last 10 years
Phillips County, Colorado has seen fluctuating student-to-teacher ratios over the past decade, with values ranging from approximately 12 to 17 students per teacher. Notably, in 2021, the ratio spiked to nearly 17, considerably higher than the national average of 14 students per teacher, which could suggest potential strain on educational resources that year. This variability might be crucial for investors and real estate agents as changes in educational quality can affect property values and appeal to families considering relocation. Additionally, those in the insurance, appraisal, and construction sectors may find these trends relevant when assessing community resources and planning future developments in the area.
