Hillsborough County Real Estate and Livability Trends
In Hillsborough County, Florida, median home values have surged from $159,200 in 2015 to $294,900 in 2022, aligning with broader state trends and showing strong growth potential. Average taxable income per tax return increased from $56,933.05 in 2013 to $86,739.23 in 2021, while total tax liabilities also rose, suggesting a robust local economy with rising financial obligations. Crime rates have... Read more
Hillsborough County Market Trends
In Hillsborough County, Florida, median home values have surged from $159,200 in 2015 to $294,900 in 2022, outpacing national trends and aligning with broader state market dynamics. The county also saw a notable spike in residential energy tax credits, peaking at $2,877.22 per return in 2018, indicating growing interest in energy-efficient home investments. Average real estate taxes have doubled... Read more
Median Value of Occupied Housing Units in Hillsborough County, Florida Over the Last 8 Years
In Hillsborough County, Florida, median home values have demonstrated a consistent upward trajectory over the past eight years, jumping from $159,200 in 2015 to $294,900 in 2022. This growth significantly outpaces the national median home value, which rose from $125,500 to $179,400 over the same period. Interestingly, Hillsborough County's housing values have closely tracked with the broader Florida market, which also saw values rise from $159,000 to $292,200. For potential investors, homeowners, or those considering building property, Hillsborough County's robust appreciation indicates a strong and resilient market, reflecting broader trends observed both statewide and nationally.
Residential Energy Tax Credit Per Tax Return in Hillsborough County, FL Over the Last 9 Years
Hillsborough County, Florida has seen significant fluctuations in residential energy tax credits over the past nine years, with a notable spike in 2018 at $2,877.22 per return. This indicates a growing trend in energy-efficient home investments, which could be appealing to new homeowners and investors alike. These large tax credits reflect increased adoption of renewable energy technologies and efficient home improvements, potentially enhancing property values and savings on utility bills in the area.
Average Real Estate Taxes Per Tax Return in Hillsborough County, FL Over the Last 10 Years
Hillsborough County, Florida has seen a notable upward trend in average real estate taxes per tax return over the past decade. In 2012, the average tax amount was $3,762.66, but by 2021, it had climbed to $7,638.79. This doubling in tax liability suggests growing property values and an increasingly attractive market for real estate investment. The steepest increases occurred between 2017 and 2018, and again from 2019 to 2020, pointing to potentially significant shifts in the local economy or property policies during these years. For investors and potential homeowners, this steady rise may indicate both opportunity and increased carrying costs for properties in the area.
Percentage of Farm Returns in Hillsborough County, FL Over the Last 10 Years
Over the last decade, the percentage of farm tax returns in Hillsborough County, Florida has seen a gradual decline from 0.33% in 2012 to roughly 0.20% in 2021. Farm tax returns indicate income generated from agricultural activities and can often reflect the health and viability of the farming industry in the county. A continuous decrease may suggest a shift in local economic focus, possibly hinting at urbanization or reduced profitability in farming. This trend could interest potential investors or residents considering the agricultural capacity and economic diversity of the area.
Number of Mortgages by Occupancy Type in Hillsborough County, FL Over the Last 5 Years in Hillsborough County
Hillsborough County, Florida has seen notable variations in mortgage activity across different occupancy types over the last five years. Principal residences consistently show the highest mortgage counts, indicating robust demand for primary living spaces. However, there’s a marked fluctuation in investment properties, peaking in 2021 with over 7,400 but dropping significantly thereafter. This could reflect broader economic trends or shifting investor sentiment. Second residences maintain relatively low but stable figures, suggesting a minor market segment. For investors or developers, these trends could indicate shifting profitability or risk levels in different property types, while appraisers and insurance agents might consider occupancy type impacts on property valuation and risk assessment.
Economic Outlook
Hillsborough County, Florida's real estate market shows significant promise due to its robust economic growth. Average taxable income per tax return surged from $56,933.05 in 2013 to $86,739.23 in 2021, signaling a strong local economy. Concurrently, state and local income taxes spiked, reaching $22,650.79 by 2021, and total tax liabilities increased from $11,163.94 in 2012 to $16,528.91 in 2021, pointing to rising financial obligations. The percentage of residents living below the poverty line... Read more
Average Taxable Income per Tax Return in Hillsborough County, FL over the last 9 years
Hillsborough County, FL has seen a significant upward trend in average taxable income per tax return over the last nine years. Starting at $56,933.05 in 2013, it jumped to $86,739.23 by 2021. This growth indicates a robust local economy, making it an attractive location for investors, property developers, and new residents seeking economic stability and potential income growth.
Average State and Local Income Taxes Per Tax Return in Hillsborough County, FL Over the Last 10 Years
Over the last decade, Hillsborough County, Florida has seen significant fluctuations in average state and local income taxes per tax return, with a notable spike starting in 2017, reaching $19,388.68 in 2018 and peaking at $22,650.79 in 2021. These trends underscore the rising financial obligations residents face, making it crucial for potential investors and new residents to account for increasing tax liabilities when considering moves or investments in the area.
Average Total Tax Liability Per Tax Return in Hillsborough County, FL Over the Last 10 Years
Over the past decade, Hillsborough County, Florida has witnessed a steady increase in average total tax liability per tax return, rising from approximately $11,163.94 in 2012 to $16,528.91 by 2021. Notable jumps occurred around 2015 and 2017, reflecting possible economic growth or tax code changes. Prospective investors and residents should recognize this trend as indicative of the area's growing affluence and evolving fiscal landscape.
Cost of Living in Hillsborough County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $2,172 | $1,601 | $1,839 | $1,420 | $1,306 |
| 1 adult 4 children | $2,172 | $1,307 | $1,405 | $1,420 | $1,456 |
| 2 adults 3 children | $2,172 | $1,308 | $1,596 | $1,420 | $1,081 |
| 1 adult 3 children | $2,172 | $1,067 | $1,162 | $1,420 | $1,236 |
| 2 adults 2 children | $1,697 | $1,070 | $1,353 | $1,246 | $862 |
| 1 adult 2 children | $1,697 | $800 | $919 | $1,246 | $894 |
| 2 adults 1 child | $1,697 | $846 | $1,110 | $680 | $815 |
| 1 adult 1 child | $1,697 | $546 | $676 | $680 | $726 |
| 2 adults | $1,413 | $680 | $867 | $0 | $678 |
| 1 adult | $1,321 | $371 | $433 | $0 | $593 |
Safety trends & Data
Hillsborough County, Florida has experienced significant reductions in property crime from 2019 to 2022. Larceny-theft incidents dropped from 4,259 to 906, and burglary incidents declined from 762 to 136. Motor vehicle theft saw more variation but generally decreased from 634 in 2020 to 156 in 2022. An unexpected spike in arson in 2020 also stabilized in the following years. These trends might suggest shifting criminal activity patterns, offering new insights for investment, development, and... Read more
Property Crime Trends in Hillsborough County, FL Over the Last 4 Years
Hillsborough County, Florida has seen notable fluctuations in property crime over the past four years, with significant declines in most categories by 2021 and 2022. While larceny-theft peaked in 2019 with 4,259 incidents, it saw a drop to 906 by 2022. Burglary followed a similar trend, decreasing from 762 in 2019 to 136 in 2022. Motor vehicle theft remained variable, though generally reduced to 156 in 2022 from its high of 634 in 2020. An unexpected increase in arson was seen in 2020, but numbers generally dropped thereafter. Such shifts hint at changing patterns in criminal activity, potentially informing investment, development, and law enforcement priorities in the county.
Demographics
In Hillsborough County, Florida, the adult population leans slightly towards a higher count of females compared to males, indicating potential gender-specific community needs. The educational attainment data suggests a relatively high level of education, with a notable portion holding at least a bachelor's degree. The age distribution reveals a young to middle-aged dominant population which could impact local businesses, education systems, and healthcare services. The racial makeup shows a... Read more
Race Distribution in Hillsborough County, Florida (2022)
Educational Attainment in Hillsborough County, Florida (2022)
Age Distribution in Hillsborough County, Florida
Citizen Population in Hillsborough County, Florida (2022)
Political Trends & Data
Hillsborough County, Florida, leaned slightly Democratic in the 2020 Presidential Election, with 52.9% of votes cast for the Democratic candidate and 46% for the Republican. Third-party candidates barely registered, accumulating just 1.3% of the vote. This level of political division might point to ongoing competitive elections and could influence the county's future electoral... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
The 2020 U.S. Presidential Election in Hillsborough County, Florida, indicated a slight preference for the Democratic candidate, with around 52.9% of votes, compared to approximately 46% for the Republican candidate. Third-party candidates, including Libertarian, Green, and Others, garnered minimal support, collectively accounting for about 1.3% of the total votes. This could suggest a continuing trend of political competition, with potential implications for future election strategies within the county.
45.98% of voters voted for the Republican party in the 2020 Presidential Election
52.86% of voters voted for the Democrat party in the 2020 Presidential Election
0.80% 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
0.20% of voters voted for the Other party in the 2020 Presidential Election
School Data
Over the past decade, Hillsborough County, Florida, has seen a consistent rise in the student-to-teacher ratio, reaching almost 17 students per teacher in 2023, above the national average of 14. This trend could signal larger classroom sizes, potentially affecting education quality and making the area less appealing to families. For real estate investors and developers, this change might impact property values and school ratings, which in turn could influence market demand and... Read more
Student-to-teacher ratio in Hillsborough County, Florida over the last 10 years
Over the past decade, the student-to-teacher ratio in Hillsborough County, Florida has shown a trend of gradual increases, with notable jumps in the last few years, especially from 2021 onward. In 2023, the ratio reached almost 17 students per teacher, which is higher than the current national average of 14 students per teacher. This upward trend might suggest growing classroom sizes, which could influence both the quality of education and the overall learning environment. For potential investors, developers, and real estate agents, this shift can impact the desirability of the area for families, as higher student-to-teacher ratios may affect school ratings and, consequently, property values. Insurance agents and appraisers might also consider these changes when evaluating risk and setting premiums, given that areas with higher quality education often attract more stable and affluent communities.
