Banks County Real Estate and Livability Trends
Banks County, Georgia, has experienced impressive economic growth with average taxable incomes rising from $39,550.29 in 2013 to $59,636.56 in 2021. Real estate market prices have spiked dramatically, with median home values climbing from $121,600 in 2015 to $229,900 by 2022, outpacing state and national averages. Property tax returns have also seen an uptick, moving from $1,958.86 in 2012 to... Read more
Banks County Market Trends
Banks County, Georgia has seen the median value of occupied housing units surge from $121,600 in 2015 to $229,900 in 2022, outpacing both state and national averages. This rapid increase, especially from 2021 to 2022, signals high growth potential for investors and prospective homeowners. Real estate taxes per return have also risen from $1,958.86 in 2012 to $3,540.48 in 2021, reflecting possibly... Read more
Median Value of Occupied Housing Units in Banks County, Georgia Over the Last 8 Years
Banks County, Georgia has seen the median value of occupied housing units surge from $121,600 in 2015 to $229,900 in 2022, a more rapid increase compared to both the state of Georgia and national averages. This spike, particularly notable from 2021 to 2022, might interest investors and prospective homeowners eyeing high growth potential. When compared to Georgia's median values, which rose from $148,100 to $245,900 over the same period, and the national rise from $125,500 to $179,400, Banks County's growth outpaces the broader market. This suggests a potentially lucrative opportunity for those looking to invest, as the area seems to be gaining value at an accelerated rate.
Residential Energy Tax Credit Per Tax Return in Banks County, GA Over the Last 8 Years
Banks County, Georgia has seen significant fluctuations in residential energy tax credits per tax return over the past eight years. While the average credit hovered between $310.00 and $430.00 from 2013 to 2016, there was a noticeable spike to $1,060.00 in 2017. The most dramatic increase occurred in 2021, reaching $1,612.50. These variations highlight growing trends and interest in energy efficiency, suggesting a lucrative opportunity for investment in sustainable technologies and related businesses in the area.
Average Real Estate Taxes Per Tax Return in Banks County, GA Over the Last 10 Years
Banks County, Georgia has seen a notable rise in real estate taxes per tax return over the past decade. From $1,958.86 in 2012 to $3,540.48 in 2021, this steady climb could be indicative of increasing property values or shifts in tax policies. For potential investors, homebuyers, or developers, this uptick suggests a growing financial commitment for owning property in the area, reflecting possibly robust economic development and an influx of residential or commercial interest. Keep in mind, while higher taxes might imply higher long-term returns due to appreciating property values, it also means higher upfront and ongoing costs.
Percentage of Farm Returns in Banks County, GA Over the Last 10 Years
Banks County, Georgia, has experienced some fluctuations in the percentage of farm tax returns over the last decade. The data shows that there was a slight peak in 2017 with approximately 5.98%, but since then, there appears to be a general decreasing trend, reaching about 4.52% in 2020 and slightly rebounding to around 4.72% in 2021. Farm tax returns signify the income generated from agricultural activities that are reported for tax purposes, providing insights into the economic health and viability of the farming sector within the county. Investors, potential residents, and property developers should pay attention to these trends as they could impact land value, local employment, and economic stability in the area.
Number of Mortgages by Occupancy Type in Banks County, GA Over the Last 5 Years in Banks County
Banks County, Georgia has seen a notable increase in the number of principal residence mortgages over the past five years, peaking at 1,300 in 2021. Investment property mortgages have remained relatively stable, with a slight upward trend, while second residence mortgages have fluctuated minimally. This shift toward principal residences indicates a possible population increase and greater homeownership stability, which may interest real estate investors, appraisers, and insurance agents by signaling a robust housing market. Builders and real estate agents could find opportunities in this growing demand for primary homes. Understanding these trends is crucial for those evaluating market dynamics, risk profiles, and investment potential in the county.
Economic Outlook
Banks County, Georgia has seen a steady rise in average taxable income per tax return, from $39,550.29 in 2013 to $59,636.56 by 2021, suggesting economic growth and possible job opportunities. State and local income taxes have also increased significantly, from $3,878.06 in 2012 to $8,353.49 in 2021, hinting at enhanced public services. Meanwhile, the average total tax liability has climbed from $4,680.64 in 2012 to $7,832.64 in 2021, a trend that may reflect rising incomes and property values,... Read more
Average Taxable Income per Tax Return in Banks County, GA over the last 9 years
Banks County, Georgia has experienced a consistent rise in average taxable income per tax return over the past nine years. Starting at $39,550.29 in 2013, it has steadily increased each year, culminating in $59,636.56 by 2021. This upward trend may appeal to potential investors and new residents, indicating economic growth and possibly improved job opportunities in the area. Those considering property development may find this income growth promising for future real estate values.
Average State and Local Income Taxes Per Tax Return in Banks County, GA Over the Last 10 Years
Over the past decade, Banks County, Georgia has experienced a notable increase in average state and local income taxes per tax return, starting at $3,878.06 in 2012 and climbing to $8,353.49 by 2021. This upward trend indicates a significant rise in the financial contributions residents are making towards state and local governments. For potential investors, property developers, or new residents, this data points to a thriving economic environment and possibly enhanced public services funded by these taxes. Existing homeowners might value the implications for local infrastructure and amenities.
Average Total Tax Liability Per Tax Return in Banks County, GA Over the Last 10 Years
Banks County, Georgia has seen a consistent rise in the average total tax liability per tax return over the past decade, with notable jumps in recent years. From $4,680.64 in 2012, the average liability increased to $7,832.64 in 2021. This trend indicates a growing taxpayer burden, potentially reflecting economic growth, rising incomes, or increased property values in the area. Investors, potential homeowners, and those looking to build property should be aware of this upward trend in tax obligations as it may impact both the immediate and long-term financial landscape.
Cost of Living in Banks County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $987 | $1,625 | $1,436 | $1,048 | $1,040 |
| 1 adult 4 children | $987 | $1,327 | $1,096 | $1,048 | $1,091 |
| 2 adults 3 children | $987 | $1,327 | $1,248 | $1,048 | $829 |
| 1 adult 3 children | $987 | $1,084 | $907 | $1,048 | $858 |
| 2 adults 2 children | $811 | $1,086 | $1,059 | $908 | $753 |
| 1 adult 2 children | $811 | $812 | $718 | $908 | $682 |
| 2 adults 1 child | $811 | $859 | $870 | $454 | $721 |
| 1 adult 1 child | $811 | $555 | $529 | $454 | $609 |
| 2 adults | $700 | $690 | $681 | $0 | $655 |
| 1 adult | $681 | $376 | $341 | $0 | $578 |
Safety trends & Data
Banks County, Georgia has experienced notable fluctuations in property crimes over the past five years, with larceny-theft showing a marked increase from 156 incidents in 2021 to 172 in 2022. Vandalism has significantly decreased from 24 incidents in 2018 to single digits recently, while burglary incidents have been inconsistent but reduced from 10 in 2018 to 4 in 2022. Motor vehicle thefts have remained minimal and stable, and fraud and forgery incidents are rare. These variable crime trends... Read more
Property Crime Trends in Banks County, GA Over the Last 5 Years
Banks County, Georgia, has seen fluctuating trends in property crimes over the last five years. The highest reported crime has generally been larceny-theft, with a significant spike in 2021 at 156 incidents, and even higher in 2022 at 172 incidents. Vandalism and motor vehicle theft numbers were relatively low, with vandalism peaking at 24 incidents in 2018 but reducing to single digits in subsequent years. Burglary has been inconsistent but lower than larceny-theft, with 10 incidents in 2018 and a drop to 4 incidents in 2022. While motor vehicle thefts have remained fairly minimal with notable stability, fraud and forgery incidents have been rare. These trends can be particularly insightful for insurers, real estate agents, and those looking to invest in or move to the area, as they reflect variations in local property crime risks.
Demographics
Banks County, Georgia has a fairly balanced gender distribution but displays interesting nuances in education levels, with a significant portion of the population attaining high school education or some college without a degree. While younger age groups appear relatively smaller, there's a notable portion of adults in the 45 to 64 range, potentially highlighting an older working demographic. Racially, the county is predominantly white, with smaller representations from Black, Asian, and other... Read more
Race Distribution in Banks County, Georgia (2022)
Educational Attainment in Banks County, Georgia (2022)
Age Distribution in Banks County, Georgia
Citizen Population in Banks County, Georgia (2022)
Political Trends & Data
Banks County, Georgia leaned significantly Republican in the 2020 U.S. Presidential Election, with the GOP possibly securing close to 89% of the vote. Democrats may have garnered around 10.6%, while the Libertarian party presence was marginal, estimated at about 0.8%. This strong conservative preference might influence local policy and community values, making it a determinant in the region's cultural and economic... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Banks County, Georgia leaned heavily Republican in the 2020 U.S. Presidential Election, with the GOP possibly securing close to 89% of the vote. Democrats might have garnered around 10.6%, while the Libertarian party had a marginal presence, estimated at about 0.8%. This potentially signifies a strong conservative preference in this county, which could influence local policy and community values.
88.57% of voters voted for the Republican party in the 2020 Presidential Election
10.59% of voters voted for the Democrat party in the 2020 Presidential Election
0.84% of voters voted for the Livertarian party in the 2020 Presidential Election
School Data
Banks County, Georgia, has consistently offered below-average student-to-teacher ratios, typically around 13 to 14 students per teacher. This trend may attract families seeking personalized education and indicates a stable or possibly declining student population. For investors or real estate agents, this could translate to stability in local schools, potentially influencing property values and community... Read more
Student-to-teacher ratio in Banks County, Georgia over the last 10 years
Over the last decade, the student-to-teacher ratio in Banks County, Georgia has generally trended below the national average of 14 students per teacher. Since 2014, the ratio has fluctuated slightly but has mostly stayed under this benchmark, with recent years averaging around 13 to 14 students per teacher. This could indicate smaller class sizes which might appeal to families prioritizing personalized education, and it suggests a stable or potentially declining student population. For investors or real estate agents, these ratios might hint at long-term stability in local schools, which could impact property values and community desirability.
