Rio Grande County Market Trends
Median Value of Occupied Housing Units in Rio Grande County, Colorado Over the Last 8 Years
Over the past eight years, the median home value in Rio Grande County, Colorado has experienced a significant upward trajectory, climbing from $133,700 in 2015 to $202,300 in 2022. This 51% increase contrasts with a more modest 43% rise in the national median home value, which went from $125,500 to $179,400 during the same period. Though still below the Colorado state median, which surged from $247,800 to $465,900—a staggering 88% hike—Rio Grande County's housing market demonstrates substantial growth potential. This rapid appreciation in Rio Grande County, even amid broader trends, could signal interesting opportunities for investors and homebuyers considering the area.
Residential Energy Tax Credit Per Tax Return in Rio Grande County, CO Over the Last 8 Years
Investors and residents in Rio Grande County, Colorado, will find the substantial growth in residential energy tax credits over the past eight years particularly intriguing. Starting with an average return of $333.33 in 2013, the figure has surged to $1,800.00 by 2021, highlighting a significant increase in energy-efficient investments. This upward trend not only reflects a growing commitment to sustainability but also indicates potential cost savings for homeowners and a promising market for sustainable development projects.
Average Real Estate Taxes Per Tax Return in Rio Grande County, CO Over the Last 10 Years
In Rio Grande County, Colorado, over the past decade, there's been a noticeable upward trend in average real estate taxes per tax return, peaking significantly in 2020 at $2,650.00. This substantial increase suggests a rising valuation of properties, which might be indicative of broader economic growth or increased demand in the area. Such trends could incentivize potential investors or property developers to consider Rio Grande County as a viable location for new ventures. Despite a slight dip in 2021, the overall upward momentum over the last ten years makes it an interesting prospect for those looking at long-term investments in real estate.
Percentage of Farm Returns in Rio Grande County, CO Over the Last 10 Years
Rio Grande County, Colorado has experienced slight fluctuations in the percentage of farm tax returns over the past decade. Beginning at 5.40% in 2012, this percentage saw minor increases and decreases, peaking at 5.54% in 2015. However, from 2019 onward, there's been a noticeable decline, landing at 4.64% by 2021. These shifts could signal evolving trends in farm ownership and agricultural activity within the county, relevant for potential investors or property developers interested in agricultural opportunities in this region. Farm tax returns refer to the portion of tax filings that report income primarily from farming activities, offering a snapshot of the agricultural sector's vitality and the economic engagement of local farmers. Declines or increases in these returns might indicate changes in the viability of farming or shifts in the local economy, which are crucial for anyone planning to invest in or engage with the community's agricultural landscape.
Number of Mortgages by Occupancy Type in Rio Grande County, CO Over the Last 5 Years in Rio Grande County
In Rio Grande County, Colorado, the number of mortgages for principal residences has generally seen an upward trend over the last five years, while investment properties and second residences show more variability. Notably, 2021 experienced a peak in principal residence mortgages with 524, compared to 310 in 2018. For potential investors and real estate agents, this could indicate a growing demand for primary homes, suggesting a stable or improving residential market. The changing numbers for second residences and investment properties might reflect shifts in vacation home preferences or investment strategies, which could impact appraisals and insurance considerations. Understanding these shifts is crucial for anyone looking to invest, move to, or conduct business in the area, as they provide insights into market demand and economic stability.
Economic Outlook
Average Taxable Income per Tax Return in Rio Grande County, CO over the last 9 years
Over the past nine years, Rio Grande County, CO has seen a notable increase in the average taxable income per tax return, rising from $42,390.74 in 2013 to $63,245.60 in 2021. The most significant growth occurred between 2018 and 2021, highlighting a strong upward trend. This surge signals a potentially thriving local economy and increased investor confidence, making Rio Grande County an attractive location for investment, residential moves, and property development.
Average State and Local Income Taxes Per Tax Return in Rio Grande County, CO Over the Last 10 Years
Over the past decade, Rio Grande County, CO has seen a significant rise in state and local income taxes per tax return, surging from $4,240.74 in 2012 to $9,493.33 in 2021. This upward trend, particularly sharp between 2018 and 2021, indicates escalating living costs and a potential increase in income brackets for residents. The fluctuations highlight the growing economic burden and financial commitments required, which are crucial considerations for both current residents and those contemplating relocation to the area.
Average Total Tax Liability Per Tax Return in Rio Grande County, CO Over the Last 10 Years
Rio Grande County, Colorado has seen a noticeable increase in the average total tax liability per tax return over the last decade. Starting at $7,021.04 in 2012, the tax liability peaked significantly to $9,890.16 by 2021. Investors and property developers may find this rising tax trend indicative of growing economic activity or increased property values, making it a key factor to consider when assessing financial commitments in this area. For current residents or potential movers, understanding these trends could help in long-term financial planning.
Cost of Living in Rio Grande County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,204 | $1,484 | $2,013 | $1,702 | $1,469 |
| 1 adult 4 children | $1,204 | $1,212 | $1,559 | $1,702 | $1,605 |
| 2 adults 3 children | $1,204 | $1,212 | $1,737 | $1,702 | $1,216 |
| 1 adult 3 children | $1,204 | $990 | $1,283 | $1,702 | $1,333 |
| 2 adults 2 children | $899 | $992 | $1,461 | $1,493 | $978 |
| 1 adult 2 children | $899 | $741 | $1,007 | $1,493 | $979 |
| 2 adults 1 child | $899 | $784 | $1,185 | $813 | $850 |
| 1 adult 1 child | $899 | $507 | $731 | $813 | $704 |
| 2 adults | $695 | $630 | $909 | $0 | $608 |
| 1 adult | $691 | $344 | $455 | $0 | $539 |
Safety trends & Data
Property Crime Trends in Rio Grande County, CO Over the Last 5 Years
Property crime trends in Rio Grande County, Colorado over the last five years show fluctuations with some crimes experiencing noteworthy decreases. For investors and real estate agents, the relatively low and varied rates of burglary, which peaked at 13 incidents in 2021, suggest pockets of stability. Notably, larceny-thefts have seen a general decline from 54 incidents in 2018 and 2019 to 39 in 2022, indicating potential improvements in local security measures. Lower motor vehicle theft numbers, dipping to a low of 1 in 2020 before slightly increasing, might appeal to prospective residents or those considering property development. Likewise, vandalism, while showing some peaks, does not indicate a consistent upward trend, which could be reassuring for appraisers and insurance agents assessing property risks.
Demographics
In Rio Grande County, Colorado, the population appears quite balanced between genders, with males slightly outnumbering females. The educational attainment data may suggest a focus on high school completion and some college education, but there's also a noticeable percentage with bachelor's and graduate degrees. Age distribution shows a significant portion of residents in the 35-44 and 55-64 age ranges, which might imply a stable working-age population. The racial landscape is predominantly... Read more
Race Distribution in Rio Grande County, Colorado (2022)
Educational Attainment in Rio Grande County, Colorado (2022)
Age Distribution in Rio Grande County, Colorado
Citizen Population in Rio Grande County, Colorado (2022)
Political Trends & Data
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Rio Grande County, Colorado, voting tendencies lean predominantly Republican, with nearly 58% of votes in the 2020 U.S. Presidential Election favoring the GOP. Democrats garnered just under 40%, indicating a significant, though lesser, portion of the electorate. Minor parties, including Libertarian, Green, and other affiliations, collectively made up slightly over 2% of the vote. These patterns suggest a potentially strong conservative presence, though the Democratic base remains substantial.
58.05% of voters voted for the Republican party in the 2020 Presidential Election
39.57% of voters voted for the Democrat party in the 2020 Presidential Election
1.05% of voters voted for the Livertarian party in the 2020 Presidential Election
0.17% of voters voted for the Green party in the 2020 Presidential Election
1.16% of voters voted for the Other party in the 2020 Presidential Election
School Data
Student-to-teacher ratio in Rio Grande County, Colorado over the last 10 years
Over the last decade, the student-to-teacher ratio in Rio Grande County, Colorado has fluctuated notably, often exceeding the U.S. national average of 14 students per teacher. With values ranging from 14 in some years to nearly 18, these shifts might suggest varying levels of attention and resources allocated to individual students. Such variations could impact educational outcomes and, subsequently, neighborhood desirability. These trends might be relevant for potential investors, homebuyers, and real estate professionals considering the county's appeal to families balancing educational quality with other factors. Additionally, appraisers and insurance agents may find this data useful when evaluating property values and associated risks.
