Sumter County Real Estate and Livability Trends
Sumter County, Florida has seen median home values soar from $213,900 in 2015 to $324,400 in 2022, outstripping national and state averages, suggesting strong local demand. This growth is bolstered by a significant rise in residential energy tax credits, highlighting a focus on energy-efficient homes and green investment opportunities. Despite these positives, the poverty rate remains above 10%,... Read more
Sumter County Market Trends
Sumter County, Florida has experienced notable growth in median home values, from $213,900 in 2015 to $324,400 in 2022, outpacing both national and state averages. This trend suggests strong local demand, making it an attractive option for investors and homebuyers. Additionally, residential energy tax credits per tax return have increased dramatically, reflecting a growing emphasis on... Read more
Median Value of Occupied Housing Units in Sumter County, Florida Over the Last 8 Years
Sumter County, Florida has seen significant growth in median home values over the past eight years, climbing from $213,900 in 2015 to $324,400 in 2022. This outpaces the national median, which only rose from $125,500 to $179,400 during the same period. Even within Florida, Sumter County's housing market shows more robust growth compared to the state’s increase from $159,000 to $292,200. This trend might suggest a particularly strong local demand or other economic factors at play, making it a compelling spot for potential investors or those looking to relocate.
Residential Energy Tax Credit Per Tax Return in Sumter County, FL Over the Last 9 Years
Over the last nine years in Sumter County, Florida, residential energy tax credits per tax return have shown a substantial increase, jumping from $321.20 in 2013 to $1075.37 in 2021. Notable spikes occurred in 2017 and 2018, with tax credits soaring to $643.71 and $993.81 respectively, reflecting a growing emphasis on energy-efficient home investments. This trend signals an attractive market for those interested in sustainable living and could be a prime opportunity for investment in green energy solutions.
Average Real Estate Taxes Per Tax Return in Sumter County, FL Over the Last 10 Years
Over the last decade, Sumter County in Florida has experienced a steady increase in average real estate taxes per tax return, climbing from approximately $4,295.70 in 2012 to about $6,427.55 in 2021. This upward trend may indicate growing property values and could be a signal to investors and potential homebuyers that the area is developing. Despite the higher taxes, the growth in this metric could reflect improvements in infrastructure and community amenities, making Sumter County potentially appealing for long-term investments.
Percentage of Farm Returns in Sumter County, FL Over the Last 10 Years
Farm tax returns in Sumter County, Florida, have shown a gradual decline over the past decade. What started at approximately 1.31% in 2012 has steadily dipped to around 0.82% by 2021. Farm tax returns indicate the number of tax filings from agricultural operations, which can provide insights into the area's agricultural viability, economic trends, and land use changes. This downward trajectory may signal decreasing agricultural activity, potential shifts in land use, or evolving economic priorities, marking it a notable factor for investors, developers, and residents considering their involvement in this region.
Number of Mortgages by Occupancy Type in Sumter County, FL Over the Last 5 Years in Sumter County
In Sumter County, Florida, over the past five years, principal residences consistently dominate mortgage counts compared to investment and second properties. Notably, 2021 witnessed a peak in principal residence mortgages at 11,639, followed by significant drops in subsequent years. These shifts in mortgage trends could impact various stakeholders. For investors, a dip in investment property mortgages suggests potential cooling off in rental demand or returns. Homebuyers and movers might infer market availability and pricing shifts primarily favoring owner-occupied homes. Real estate agents and appraisers can use these trends to forecast market conditions and property values accurately. Meanwhile, insurance agents may need to adjust risk assessments based on the changing occupancy landscape, which can also inform builders about where to focus future development efforts.
Economic Outlook
Sumter County, Florida has seen a significant increase in average taxable income per tax return, jumping from $71,864.70 in 2013 to $103,265.92 by 2021, suggesting strong economic growth. Concurrently, average state and local income taxes per tax return have surged from $6,876.19 in 2012 to $15,856.74 in 2021, indicating substantial fiscal shifts. This economic vitality is tempered by a persistent poverty rate above 10%, reaching 13.5% in 2022. These trends are crucial for investors and new... Read more
Average Taxable Income per Tax Return in Sumter County, FL over the last 9 years
Sumter County, FL, has seen a notable upward trend in average taxable income per tax return over the past nine years. From $71,864.70 in 2013 to an impressive $103,265.92 in 2021, income growth reflects the county’s economic vitality. Interestingly, while there was a slight dip between 2018 and 2020, the significant jump in 2021 underscores a robust recovery, making it an attractive locale for investors and new residents alike.
Average State and Local Income Taxes Per Tax Return in Sumter County, FL Over the Last 10 Years
Sumter County, Florida has seen a notable increase in average state and local income taxes per tax return over the past decade. From $6,876.19 in 2012, taxes have surged to $15,856.74 by 2021, reflecting a significant upward trend. This tax hike is pivotal for potential investors and residents, signaling economic changes and potential budget allocations within the county. Understanding these trends can help in financial planning and assessing the county's fiscal health and projected growth.
Average Total Tax Liability Per Tax Return in Sumter County, FL Over the Last 10 Years
Sumter County, Florida, has seen a significant rise in average total tax liability per tax return over the last decade, beginning at $12,811.14 in 2012 and jumping to $17,389.51 by 2021. This upward trend, particularly the marked increase since 2018, highlights the county's growing wealth and possibly rising income levels. Investors and potential residents might find this indicative of a thriving local economy but should also consider the impact of higher taxes when planning financial matters.
Cost of Living in Sumter County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,411 | $1,645 | $1,780 | $1,286 | $985 |
| 1 adult 4 children | $1,411 | $1,343 | $1,360 | $1,286 | $1,095 |
| 2 adults 3 children | $1,411 | $1,344 | $1,545 | $1,286 | $791 |
| 1 adult 3 children | $1,411 | $1,097 | $1,125 | $1,286 | $862 |
| 2 adults 2 children | $1,093 | $1,100 | $1,310 | $1,126 | $669 |
| 1 adult 2 children | $1,093 | $822 | $890 | $1,126 | $620 |
| 2 adults 1 child | $1,093 | $869 | $1,075 | $605 | $643 |
| 1 adult 1 child | $1,093 | $562 | $655 | $605 | $515 |
| 2 adults | $830 | $698 | $840 | $0 | $520 |
| 1 adult | $825 | $381 | $420 | $0 | $446 |
Safety trends & Data
Sumter County, Florida has witnessed significant reductions in property crime over the past three years. Burglary rates dropped from 57 in 2019 to just 3 in 2022, and larceny-theft fell from 220 to 48. Motor vehicle theft and fraud cases also saw notable decreases. This decline could boost the area's appeal to investors, home buyers, and real estate professionals, potentially impacting local real estate market dynamics. However, other factors should be considered when assessing the overall... Read more
Property Crime Trends in Sumter County, FL Over the Last 3 Years
Sumter County, Florida has seen substantial shifts in property crime over the past three years. Burglary rates have plummeted from 57 in 2019 to just 3 in 2022, while larceny-theft followed a similar downward trend, dropping from 220 to 48 in the same period. Motor vehicle theft saw a moderate decline, and fraud cases decreased significantly as well. This noticeable reduction in property crimes may suggest improving safety and could potentially increase the attractiveness of the area for investors, home buyers, and real estate professionals. However, it's crucial to consider other factors when evaluating the overall security and desirability of Sumter County.
Demographics
Sumter County, Florida seems to exhibit a slightly higher number of females compared to males in its adult population. The age distribution skews significantly towards older adults, particularly those aged 65 to 74 years and 75 years and over, suggesting a considerable senior population. Educational attainment shows a notable number of high school graduates and individuals with some college education, but a lower percentage holding advanced degrees. Racial demographics indicate a predominantly... Read more
Race Distribution in Sumter County, Florida (2022)
Educational Attainment in Sumter County, Florida (2022)
Age Distribution in Sumter County, Florida
Citizen Population in Sumter County, Florida (2022)
Political Trends & Data
Sumter County, Florida leaned heavily Republican in the 2020 U.S. Presidential Election, with about 68% of the votes going to GOP candidates. Democrats received just over 31% while third parties barely made a dent. This conservative tilt could shape local policies and influence how real estate markets perform, particularly in terms of tax rates and community development... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Sumter County, Florida, showed a strong preference for Republican candidates in the 2020 U.S. Presidential Election, with around 68% of the votes. The Democratic candidates garnered just over 31%, while the Libertarian, Green, and other parties collectively captured less than 1%. This distribution suggests that Sumter County is likely a solidly conservative area, reflecting broader statewide trends that can impact policy decisions and electoral strategies.
67.86% of voters voted for the Republican party in the 2020 Presidential Election
31.73% of voters voted for the Democrat party in the 2020 Presidential Election
0.29% of voters voted for the Livertarian party in the 2020 Presidential Election
0.04% of voters voted for the Green party in the 2020 Presidential Election
0.08% of voters voted for the Other party in the 2020 Presidential Election
School Data
Sumter County, Florida's fluctuating student-to-teacher ratio peaked at 22 students per teacher in 2016 and 2017 but has since steadied at around 16 from 2018 onwards. While slightly above the national average of 14, this ratio suggests that class sizes, though manageable, might not deliver the personalized educational experience found in some other regions. This trend can serve as a critical factor for families considering relocation and real estate agents positioning the area’s educational... Read more
Student-to-teacher ratio in Sumter County, Florida over the last 10 years
Sumter County, Florida has seen fluctuating student-to-teacher ratios over the past decade, with ratios peaking at 22 students per teacher in 2016 and 2017, before stabilizing to around 16 students per teacher from 2018 onwards. While the county's current ratio of 16 is slightly above the national average of 14, it suggests that class sizes are relatively manageable, although they may not provide as personalized an educational experience as some other areas. This information might indicate potential challenges and opportunities for educators and could be critical for families considering relocation, as well as for real estate agents who may highlight this factor when discussing the area's amenities with potential buyers. Investors and appraisers may also see these trends as indicators of the county’s broader educational infrastructure support, potentially impacting long-term property values.
