San Miguel County Market Trends
Median Value of Occupied Housing Units in San Miguel County, Colorado Over the Last 8 Years
San Miguel County, Colorado, has experienced some fluctuations in median home values over the past eight years, peaking at $561,400 in 2022 after dipping to $448,900 in 2020. This volatility contrasts with the more consistent upward trend seen statewide in Colorado, where values increased steadily from $247,800 in 2015 to $465,900 in 2022. On a national level, the trend was also steadily upward but at a much lower baseline, culminating at $179,400 in 2022. These trends might suggest that San Miguel County's housing market is more dynamic and potentially more lucrative for investment, but also possibly riskier due to its variability compared to broader, more stable trends.
Residential Energy Tax Credit Per Tax Return in San Miguel County, CO Over the Last 8 Years
Over the last eight years, San Miguel County, Colorado has experienced significant fluctuations in residential energy tax credits per tax return. Peaks in 2015 and 2021 at $2,950.00 and $2,200.00 respectively suggest sporadic but substantial investments in energy efficiency measures. The sharp decrease in 2016 to $480.00 followed by another peak in 2017 at $1,800.00 indicates a volatile yet increasing interest in energy efficiency investments. This data is crucial for potential investors and residents aiming to understand the county's commitment to sustainable practices, which can influence property values and long-term investments.
Average Real Estate Taxes Per Tax Return in San Miguel County, CO Over the Last 10 Years
Over the last decade, San Miguel County, Colorado has seen a consistent increase in real estate taxes per tax return, almost tripling from $3,844.25 in 2012 to $9,667.86 in 2021. This upward trend suggests a growing property value in the area, reflecting its potential as a lucrative investment opportunity. The consistent rise might imply a strong local economy and an increasing demand for real estate, making it an appealing location for potential investors and new residents alike.
Percentage of Farm Returns in San Miguel County, CO Over the Last 10 Years
The percentage of farm tax returns in San Miguel County, Colorado has been generally declining over the last decade, dropping from around 2.76% in 2012 to approximately 1.91% in 2021. While there are slight fluctuations, the overall trend suggests a steady decrease in farm-related filings. For investors, developers, or potential residents, this might suggest a shift away from agricultural activities towards other economic drivers in the region, potentially affecting land use, property values, and community resources.
Number of Mortgages by Occupancy Type in San Miguel County, CO Over the Last 5 Years in San Miguel County
San Miguel County, Colorado has seen varying trends in mortgage counts for different occupancy types over the past five years. Investment properties remain relatively stable but lower in volume, suggesting more cautious or targeted investment. Principal residences peaked in 2020 but dropped significantly by 2022, possibly indicating changing local economic conditions or housing market shifts. Second residences also spiked in 2020, reflecting a possible surge in demand for vacation homes during the pandemic, followed by a notable decline. These fluctuations could have significant implications for real estate agents, investors, and insurers in assessing market trends, while builders and potential homeowners might need to consider these dynamics in their planning and decision-making. Understanding these trends helps to gauge the market's current sentiment and future trajectory.
Economic Outlook
Average Taxable Income per Tax Return in San Miguel County, CO over the last 9 years
San Miguel County, CO has seen a dramatic increase in average taxable income per tax return over the past nine years, with particularly significant jumps from $115,361.43 in 2019 to $165,873.27 in 2020, and then to $214,790.07 in 2021. This trend suggests robust economic growth and higher earnings potential, making the area attractive for investors, new residents, and property developers seeking lucrative opportunities.
Average State and Local Income Taxes Per Tax Return in San Miguel County, CO Over the Last 10 Years
San Miguel County, CO has experienced significant increases in average state and local income taxes per tax return over the past decade. Starting at $10,312.38 in 2012, the average surged to $48,156.14 by 2021, highlighting a dramatic escalation in tax burden that prospective residents should consider. The most notable spikes occurred between 2017 and 2018, and again from 2019 to 2020, indicating potentially significant changes in income levels or tax policy. This trend is essential for understanding the cost of living and financial planning for those considering moving to or living in the area.
Average Total Tax Liability Per Tax Return in San Miguel County, CO Over the Last 10 Years
San Miguel County, Colorado has seen a sharp rise in the average total tax liability per tax return over the past decade. Starting at $14,264.01 in 2012, the tax liability nearly quadrupled to $54,802.88 by 2021. This surge is particularly notable from 2019 onwards, reflecting significant economic growth or changes in tax policy. For investors, builders, and potential residents, this indicates a booming economy that might suggest both higher income opportunities and increased costs of living or property investment.
Cost of Living in San Miguel County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $2,082 | $1,540 | $2,015 | $2,492 | $2,314 |
| 1 adult 4 children | $2,082 | $1,258 | $1,560 | $2,492 | $2,436 |
| 2 adults 3 children | $2,082 | $1,258 | $1,738 | $2,492 | $2,058 |
| 1 adult 3 children | $2,082 | $1,027 | $1,283 | $2,492 | $2,202 |
| 2 adults 2 children | $1,711 | $1,030 | $1,462 | $2,177 | $1,642 |
| 1 adult 2 children | $1,711 | $769 | $1,007 | $2,177 | $1,749 |
| 2 adults 1 child | $1,711 | $814 | $1,186 | $1,153 | $1,254 |
| 1 adult 1 child | $1,711 | $526 | $731 | $1,153 | $1,275 |
| 2 adults | $1,300 | $654 | $910 | $0 | $870 |
| 1 adult | $1,144 | $357 | $455 | $0 | $743 |
Safety trends & Data
Property Crime Trends in San Miguel County, CO Over the Last 5 Years
San Miguel County, Colorado has seen fluctuating trends in property crimes over the past five years. Motor vehicle thefts and fraud incidents were relatively low but consistent, with minor increases. There was a notable spike in vandalism in 2022, jumping to 13 incidents from just 2 in 2020. Burglary incidents also saw an upward trend in 2022, indicating potential risk areas for property investors and residents. Larceny-theft incidents show some variability but peaked in 2020 with 7 incidents. This dynamic landscape could influence appraisers and insurance rates, warranting cautious evaluation for anyone involved in real estate or property development.
Demographics
In San Miguel County, Colorado, there seems to be a slightly higher number of males than females in the adult population, though the difference isn't dramatic. When it comes to education, a significant portion of the population holds bachelor's degrees, indicating possibly a strong emphasis on higher education in the area. Age-wise, the 25 to 34 age group appears to be the most populous, maybe hinting at an attractive environment for young professionals. Racially, the community is predominantly... Read more
Race Distribution in San Miguel County, Colorado (2022)
Educational Attainment in San Miguel County, Colorado (2022)
Age Distribution in San Miguel County, Colorado
Citizen Population in San Miguel County, Colorado (2022)
Political Trends & Data
Percentage of Votes in the 2020 U.S. Presidential Election by Party
San Miguel County in Colorado appears to lean heavily Democratic, with over 76% of the vote potentially going to the Democratic party. The Republican party may have secured a little over 22% of the votes, suggesting a significant tilt away from a balanced political landscape. Minor parties, including the Libertarian and Green parties, have garnered much lower percentages, indicating a limited impact on the overall election outcome in this county.
22.07% of voters voted for the Republican party in the 2020 Presidential Election
76.24% of voters voted for the Democrat party in the 2020 Presidential Election
1.01% of voters voted for the Livertarian party in the 2020 Presidential Election
0.27% of voters voted for the Green party in the 2020 Presidential Election
0.41% of voters voted for the Other party in the 2020 Presidential Election
School Data
Student-to-teacher ratio in San Miguel County, Colorado over the last 10 years
San Miguel County, Colorado has shown fluctuations in its student-to-teacher ratio over the last decade, with values ranging from approximately nine to thirteen students per teacher. Notably, the ratio dropped to 8 in 2021 but has since increased to nearly thirteen in 2023. These numbers consistently fall below the national average of fourteen students per teacher, indicating smaller class sizes which could enhance individualized attention and potentially better educational outcomes. Such trends could be appealing for families considering relocating to the area, investors evaluating community quality, and real estate agents marketing local properties. It can also influence appraisals and insurance assessments by reflecting a community invested in education.
