Benton County Real Estate and Livability Trends
Benton County, Minnesota's real estate landscape offers compelling insights for potential investors and stakeholders. Median home values rose from $156,100 in 2015 to $229,300 in 2022, hinting at growth opportunities despite lagging behind the state average. Energy tax credits peaked dramatically in 2018 at $2,433.33, suggesting a push towards sustainable development that could enhance property... Read more
Benton County Market Trends
Benton County, Minnesota, presents an intriguing opportunity for investors as median home values climbed from $156,100 in 2015 to $229,300 in 2022, yet still fall behind Minnesota's state average growth from $186,200 to $286,800. Anomalies in energy tax credits per tax return highlight a peak in 2018 at $2,433.33, suggesting a drive towards sustainability which could mean increased property... Read more
Median Value of Occupied Housing Units in Benton County, Minnesota Over the Last 8 Years
Benton County, Minnesota, has seen its median home values climb from $156,100 in 2015 to $229,300 in 2022. While this trend echoes national increases where the median value went from $125,500 to $179,400 in the same period, Benton County's growth still lags behind Minnesota's state averages, which surged from $186,200 to $286,800. This data could hint that Benton County might be an appealing opportunity for investors seeking more affordable options within Minnesota.
Residential Energy Tax Credit Per Tax Return in Benton County, MN Over the Last 9 Years
Benton County, Minnesota has seen significant fluctuations in residential energy tax credits per tax return over the past nine years. Notably, there was a substantial spike in 2018, averaging $2,433.33. This anomaly may point to either a temporary incentive or a significant push towards energy efficiency that year. Post-2018, the values settled to levels higher than the earlier years, indicating a potential increase in energy-efficient upgrades among homeowners. For investors, this signals a possible interest in sustainable housing features, while appraisers and real estate agents might find increased property values tied to energy improvements. Insurance agents could also see a trend towards homes with lower risk of energy-related damages.
Average Real Estate Taxes Per Tax Return in Benton County, MN Over the Last 10 Years
Over the last decade, real estate taxes per tax return in Benton County, Minnesota, have varied notably, with a general upward trend. While 2012 started at approximately $2,564.22, by 2021, this figure had increased to around $3,846.91. A significant spike was observed between 2017 and 2018, where average taxes jumped from $2,965.59 to $3,559.57. This trend could suggest evolving local economic conditions and property value reassessments, which might be relevant for investors and real estate professionals considering the area's market dynamics.
Percentage of Farm Returns in Benton County, MN Over the Last 10 Years
Over the last decade, Benton County, Minnesota has seen a slight but noticeable decrease in the percentage of farm tax returns, starting from approximately 4.61% in 2012, dipping to about 4.00% in 2019, and settling around 3.99% in 2021. Farm tax returns, the tax filings submitted by agricultural businesses, can provide an indirect indicator of the agricultural economy and land use within the county. This downward trend might suggest a gradual shift away from agriculture, which could be of interest to potential investors, developers, and residents considering opportunities in Benton County.
Number of Mortgages by Occupancy Type in Benton County, MN Over the Last 5 Years in Benton County
In Benton County, Minnesota, the number of principal residence mortgages peaked in 2020 at nearly 3,000, but sharply dropped to around 1,500 by 2022. Investment property mortgages exhibited more stability, fluctuating mildly but generally staying within the 60-94 range over the last five years. Second residence mortgages remained consistently low. This variance in occupancy type can indicate changes in market demand and economic conditions, affecting property values, rental markets, and decision-making for investors, builders, and real estate agents. Understanding these trends helps stakeholders gauge the local housing market's health and anticipate future shifts.
Economic Outlook
Benton County, Minnesota has witnessed a consistent rise in average taxable income per tax return, moving from $48,877.97 in 2013 to $69,056.44 by 2021. Coupled with a noticeable increase in average state and local income taxes—from $5,460.00 in 2012 to $12,188.51 in 2021—this trend may reflect broader economic shifts, potentially impacting cost of living and disposable income. Additionally, fluctuations in total tax liability, with recent increases peaking at around $9,684.04 in 2021,... Read more
Average Taxable Income per Tax Return in Benton County, MN over the last 9 years
The past nine years in Benton County, Minnesota have shown a consistent upward trend in the average taxable income per tax return. Starting at $48,877.97 in 2013, it rose to $69,056.44 by 2021. This steady growth could potentially be appealing for investors, real estate agents, and those looking to move or build in the area, suggesting a possibly resilient economic environment. The increase in average taxable income may also have implications for appraisers and insurance agents in terms of property values and risk assessments.
Average State and Local Income Taxes Per Tax Return in Benton County, MN Over the Last 10 Years
Over the past decade, Benton County, Minnesota has seen a noticeable rise in average state and local income taxes per tax return, starting from $5,460.00 in 2012 and climbing to $12,188.51 by 2021. This upward trend might reflect broader economic changes in the area, such as increasing incomes or adjustments in tax policy. This could be a crucial point for potential investors or those considering relocation, as higher taxes might impact disposable income and cost of living.
Average Total Tax Liability Per Tax Return in Benton County, MN Over the Last 10 Years
Over the past decade, Benton County, Minnesota has experienced some fluctuation in average total tax liability per tax return, with notable increases in recent years. Starting at approximately $7,018.25 in 2012, there was a dip in 2013 followed by gradual increases, peaking significantly at around $9,684.04 in 2021. These patterns suggest a trend towards rising taxation, important for investors, property developers, and real estate stakeholders to consider when evaluating the fiscal landscape and potential costs associated with living or doing business in the area.
Cost of Living in Benton County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,198 | $1,637 | $1,723 | $1,902 | $1,518 |
| 1 adult 4 children | $1,198 | $1,337 | $1,349 | $1,902 | $1,695 |
| 2 adults 3 children | $1,198 | $1,337 | $1,479 | $1,902 | $1,245 |
| 1 adult 3 children | $1,198 | $1,092 | $1,105 | $1,902 | $1,449 |
| 2 adults 2 children | $890 | $1,095 | $1,235 | $1,666 | $994 |
| 1 adult 2 children | $890 | $818 | $861 | $1,666 | $1,065 |
| 2 adults 1 child | $890 | $865 | $991 | $897 | $844 |
| 1 adult 1 child | $890 | $559 | $617 | $897 | $755 |
| 2 adults | $715 | $695 | $747 | $0 | $623 |
| 1 adult | $690 | $379 | $373 | $0 | $530 |
Safety trends & Data
Benton County, Minnesota's property crime trends over the past five years reveal key insights for real estate stakeholders. Larceny-theft incidents peaked at 52 instances in 2019 but subsequently decreased, indicating possibly sporadic crime control measures. Burglary incidents spiked to 18 in 2020 but saw a steep decline by 2022, while fraud-related crimes generally trended downwards. Vandalism showed a mixed pattern with a slight resurgence in 2022. These dynamics are crucial for appraisers,... Read more
Property Crime Trends in Benton County, MN Over the Last 5 Years
Benton County, Minnesota has seen fluctuations in property crime over the past five years, confirming trends significant for potential investors and residents. Notably, larceny-theft peaked at 52 instances in 2019 before decreasing, hinting at sporadic crime control measures. Burglary incidents spiked to 18 in 2020 then saw a steep decline by 2022. Fraud-related crimes have generally trended downwards, while vandalism showed a mixed pattern with a slight resurgence in 2022. These patterns provide valuable insights for appraisors, insurance agents, and real estate developers assessing neighborhood safety and investment risk.
Demographics
In Benton County, Minnesota, the adult population is almost evenly split between males and females. The majority of residents have at least a high school diploma, suggesting a relatively educated population. Age-wise, there's a notable spread across all age groups, with the bulk of the population falling between the ages of 25 to 64, potentially indicating a stable workforce. The racial demographics reveal a predominantly White population, with smaller percentages of Black or African American,... Read more
Race Distribution in Benton County, Minnesota (2022)
Educational Attainment in Benton County, Minnesota (2022)
Age Distribution in Benton County, Minnesota
Citizen Population in Benton County, Minnesota (2022)
Political Trends & Data
Benton County, Minnesota appears to lean conservative, with Republicans receiving over 64% of the votes in the 2020 Presidential Election, whereas Democrats secured around 32%. Smaller parties like the Libertarian and Green parties collectively made up less than 5% of the vote. This distribution may indicate a strong conservative base, yet it also suggests that minor parties maintain a niche voter... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Benton County, Minnesota may lean heavily Republican with just over 64% of the votes in the 2020 Presidential Election, while Democrats seem to have garnered around 32%. The Libertarian and Green parties, along with other minor parties, appear to have a minimal impact, collectively making up less than 5% of the vote. This distribution could suggest a strong conservative base, but it’s worth noting how minor parties still carve out a niche voter base.
64.61% of voters voted for the Republican party in the 2020 Presidential Election
32.70% of voters voted for the Democrat party in the 2020 Presidential Election
1.58% of voters voted for the Livertarian party in the 2020 Presidential Election
0.36% of voters voted for the Green party in the 2020 Presidential Election
0.75% of voters voted for the Other party in the 2020 Presidential Election
School Data
Benton County, Minnesota has experienced a significant drop in its student-to-teacher ratio, moving from 16:1 in 2014 to slightly over 14:1 in 2023. This likely indicates enhanced educational resources, potentially making the county more appealing to families who value smaller class sizes. The current ratio is now aligned with the national average, which could attract interest from appraisers, real estate agents, and potential investors seeking growth areas with strong public... Read more
Student-to-teacher ratio in Benton County, Minnesota over the last 10 years
Benton County, Minnesota has seen a notable decrease in its student-to-teacher ratio over the past decade, shifting from 16 in 2014 to just over 14 students per teacher in 2023. This trend likely reflects positive changes in educational resources and could make the area more attractive for families prioritizing small class sizes. The current ratio's alignment with the national average of 14 students per teacher suggests that Benton County could now offer a competitive educational environment, which may interest appraisers, real estate agents, and potential investors looking for growth areas with robust public services.
