Wallace County Real Estate and Livability Trends
Wallace County, Kansas, has experienced notable fluctuations in median home values, from a peak of $99,300 in 2018, dipping to $84,500 in 2020, and rebounding to $96,200 by 2022. Despite this recovery, home prices in Wallace County remain significantly lower than both the Kansas median of $189,300 and the national median of $179,400, suggesting an affordable market for prospective buyers. Real... Read more
Wallace County Market Trends
Wallace County, Kansas has experienced notable volatility in its real estate market trends. Median home values have fluctuated, peaking at $99,300 in 2018 before dipping to $84,500 in 2020 and rebounding to $96,200 by 2022. Despite this recovery, home prices in Wallace County remain significantly lower than the Kansas median of $189,300 and the national median of $179,400, suggesting an... Read more
Median Value of Occupied Housing Units in Wallace County, Kansas Over the Last 8 Years
Wallace County, Kansas has experienced fluctuations in median home values over the past eight years, with 2018 seeing a high of $99,300 before dropping to $84,500 in 2020. Despite recent rebounds to $96,200 in 2022, these values remain significantly lower than both state and national averages. With Kansas' median home value reaching $189,300 in 2022 and the national figure at $179,400, Wallace County presents a more affordable option for potential investors or homebuyers looking at housing market trends.
Average Real Estate Taxes Per Tax Return in Wallace County, KS Over the Last 6 Years
Over the past six years in Wallace County, Kansas, average real estate taxes per tax return have shown variations, peaking at $2,962.50 in 2017 and dipping to a low of $2,044.44 in 2012. This fluctuation suggests a volatile tax environment, which potential investors and property developers might find noteworthy when considering long-term commitments. Real estate agents and insurance agents should be aware of these changes, as they can influence property values and risk assessments. For residents and those interested in moving, it hints at evolving fiscal policies potentially impacting overall cost of living.
Percentage of Farm Returns in Wallace County, KS Over the Last 10 Years
Over the last decade, Wallace County, Kansas has seen fluctuations in the percentage of farm returns, peaking at 30.14% in 2014 and hitting a low of 24.93% in 2020. Farm tax returns, which represent the proportion of tax filings from farming operations, highlight the economic significance of agriculture in the county. This trend is vital for those eyeing investments in local agribusiness, considering property development, or simply understanding the rural economy's health.
Number of Mortgages by Occupancy Type in Wallace County, KS Over the Last 5 Years in Wallace County
In Wallace County, Kansas, data over the last five years reveal fluctuating trends in mortgage counts by occupancy type. Mortgages for principal residences have shown a gradual increase, peaking in 2021 with 26 mortgages. Notably, there has been minimal activity in second residences and investment properties, with only a single mortgage recorded for an investment property in 2022. This changing occupancy type trend could suggest shifting demographic or economic conditions that might affect local housing demand and prices. Potential investors, real estate agents, and insurers might find these trends useful as they could imply a growing preference for primary living spaces over secondary investments, possibly indicating economic stability or growth in the area.
Economic Outlook
Wallace County, Kansas, has shown variability in average taxable income per tax return, with peaks in 2014 at $59,837.50 and a significant rise to $67,760.61 in 2021, suggesting potential economic growth. State and local income taxes have also fluctuated, from a peak of $10,362.50 in 2013 to $4,700.00 in 2014, and settling at $7,200.00 in 2020, indicating a dynamic fiscal environment. The average total tax liability per tax return decreased from $11,461.11 in 2012 to $6,580.39 in 2019, with a... Read more
Average Taxable Income per Tax Return in Wallace County, KS over the last 9 years
Over the past nine years, Wallace County, Kansas has seen some variability in average taxable income per tax return. Peaks were observed in 2014 with $59,837.50 and a significant rise to $67,760.61 in 2021, which suggests potential economic growth or changes in income sources. Conversely, notable dips were found in 2016 and 2017 with $49,537.14 and $47,731.43, respectively. This fluctuation may indicate shifts in the local economy that are important to consider for investors, real estate agents, and anyone looking to build or move property into the area.
Average State and Local Income Taxes Per Tax Return in Wallace County, KS Over the Last 7 Years
In Wallace County, Kansas, the average state and local income taxes per tax return have shown significant fluctuations over the last seven years. Notably, there was a peak in 2013 at $10,362.50, followed by a substantial dip in 2014 to $4,700.00. After some volatility, the latest reported figure in 2020 is back up to $7,200.00. This variability highlights a dynamic tax landscape, important for potential investors and residents contemplating the fiscal environment.
Average Total Tax Liability Per Tax Return in Wallace County, KS Over the Last 10 Years
Wallace County, Kansas has seen a notable decrease in average total tax liability per tax return from $11,461.11 in 2012 to $6,580.39 in 2019. However, recent years have shown a slight uptick, reaching $9,013.46 in 2021. This trend could be intriguing for potential investors or property developers, indicating fluctuating but generally lower tax burdens over the last decade. Residents and businesses might find the lower average tax liabilities over the mid to late 2010s appealing, potentially making the area more attractive for relocation or expansion.
Cost of Living in Wallace County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $959 | $1,347 | $2,548 | $966 | $1,376 |
| 1 adult 4 children | $959 | $1,100 | $1,953 | $966 | $1,432 |
| 2 adults 3 children | $959 | $1,101 | $2,208 | $966 | $1,083 |
| 1 adult 3 children | $959 | $898 | $1,614 | $966 | $1,142 |
| 2 adults 2 children | $788 | $901 | $1,868 | $837 | $935 |
| 1 adult 2 children | $788 | $673 | $1,274 | $837 | $884 |
| 2 adults 1 child | $788 | $712 | $1,528 | $419 | $870 |
| 1 adult 1 child | $788 | $460 | $934 | $419 | $718 |
| 2 adults | $599 | $572 | $1,189 | $0 | $739 |
| 1 adult | $584 | $312 | $594 | $0 | $605 |
Demographics
Wallace County, Kansas shows a relatively balanced gender distribution among adults, with slightly more males than females. Educationally, a significant portion of the population has completed high school or higher, though higher degrees such as bachelor's or graduate degrees are less common. The age distribution suggests a significant number of residents are approaching retirement, potentially impacting future workforce dynamics. Racially, the county's populace is predominantly White, with... Read more
Race Distribution in Wallace County, Kansas (2022)
Educational Attainment in Wallace County, Kansas (2022)
Age Distribution in Wallace County, Kansas
Citizen Population in Wallace County, Kansas (2022)
Political Trends & Data
Wallace County, Kansas, exhibited a strong preference for Republican candidates in the 2020 U.S. Presidential Election, with about 93% of votes favoring the GOP. Democratic support trailed significantly at around 5%, and Libertarian votes were minimal at just over 1%. The absence of Green Party votes underscores a notable lean towards established parties in this... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Wallace County, Kansas, saw a significant lean towards Republican candidates in the 2020 U.S. Presidential Election with an overwhelming majority of roughly 93%. Democratic support was considerably lower, hovering around 5%, while Libertarian votes barely registered at just over 1%. The Green Party did not see any votes, reflecting a clear preference for more traditional, established parties in this region.
93.33% of voters voted for the Republican party in the 2020 Presidential Election
5.33% of voters voted for the Democrat party in the 2020 Presidential Election
1.33% of voters voted for the Livertarian party in the 2020 Presidential Election
School Data
Wallace County, Kansas has consistently maintained a lower student-to-teacher ratio, averaging between 7 and 9 students per teacher compared to the national average of 14. This trend could make the area particularly appealing to families seeking more personalized education experiences for their children. Real estate agents might find homes in Wallace County more attractive to young families prioritizing education. For developers and investors, this demographic offers an opportunity to tailor... Read more
Student-to-teacher ratio in Wallace County, Kansas over the last 10 years
Wallace County, Kansas has consistently maintained a lower student-to-teacher ratio compared to the national average of 14 students per teacher, hovering between 7 and 9 students per teacher over the past decade. This lower ratio could potentially suggest smaller class sizes, which may appeal to families seeking more personalized education experiences for their children. For real estate agents, this might indicate that homes in the area could be more attractive to young families prioritizing education. Developers and investors might see this as an opportunity to cater to this demographic. For appraisers, the consistently low ratios could influence the perceived value of properties, potentially making the area more desirable. Meanwhile, insurance agents might consider these factors when assessing risk and formulating coverage options. Overall, understanding these trends could be vital for those looking to make informed decisions about living or investing in Wallace County.
