Dakota County Real Estate and Livability Trends
Dakota County, Minnesota has shown a steady economic rise, with average taxable income climbing from $72,009.79 in 2013 to $96,431.44 in 2021. This suggests economic growth and enticing property investment prospects, although rising state and local income taxes, which nearly doubled to $14,567.31 by 2021, might influence relocation decisions. Median home values saw a notable increase, reaching... Read more
Dakota County Market Trends
Median home values in Dakota County, Minnesota saw a notable climb over the past eight years, reaching $341,200 in 2022—well above the state and national medians. This trend suggests strong demand and potentially higher ROI for investors. Residential energy tax credits have fluctuated, peaking at $3,096.67 in 2018, hinting at variable investment in energy-efficient home improvements. Real... Read more
Median Value of Occupied Housing Units in Dakota County, Minnesota Over the Last 8 Years
Median home values in Dakota County, Minnesota, saw a steady rise over the last eight years, reaching $341,200 in 2022. This growth significantly outpaces the state median, which was $286,800 in the same year, and even more so compared to the national median of $179,400. For potential investors, homeowners, and residents, Dakota County's robust market could indicate strong demand and potentially higher returns on investment given its consistent appreciation.
Residential Energy Tax Credit Per Tax Return in Dakota County, MN Over the Last 9 Years
In Dakota County, Minnesota, the average residential energy tax credit per tax return has shown substantial fluctuations over the past nine years, peaking notably at $3,096.67 in 2018. While there's generally a rising trend, specific years like 2017 and 2019 also stood out with averages of $508.02 and $715.77 respectively. This variability could suggest changing policies or varying levels of investment in energy-efficient home improvements, useful insights for potential investors, real estate professionals, and insurance agents aiming to understand local market dynamics and property values.
Average Real Estate Taxes Per Tax Return in Dakota County, MN Over the Last 10 Years
Over the past decade, average real estate taxes per tax return in Dakota County, Minnesota have shown a clear upward trend. Starting at approximately $3,230.23 in 2012, they've gradually escalated, reaching around $4,867.93 by 2021. This consistent increase, peaking particularly between 2017 and 2020, signals growing property values and potentially higher municipality budget allocations. This matters for investors and property buyers as it could indicate rising property costs and demand in the area. It could also affect insurance premiums and property appraisals as these costs are factored into overall valuations.
Percentage of Farm Returns in Dakota County, MN Over the Last 10 Years
Over the past decade, the percentage of farm tax returns in Dakota County, Minnesota has seen a consistent, albeit gradual, decline from approximately 0.53% in 2012 to about 0.41% in 2021. Farm tax returns are crucial for understanding agricultural activity, suggesting a shrinking farming community or reduced profitability in the area. For potential investors or those considering property development, this downward trend may indicate a shift in land use patterns and economic focus, potentially affecting future market dynamics and community landscape.
Number of Mortgages by Occupancy Type in Dakota County, MN Over the Last 5 Years in Dakota County
Dakota County, Minnesota has seen a steady trend in mortgage counts over the past five years, with a significant focus on principal residences. Investment properties have shown some fluctuation, peaking in 2021 and then dropping in 2022. Second residences maintain a minimal yet steady presence. This shift in occupancy types can be crucial for stakeholders due to its implications on market demand and property values. For investors and real estate agents, understanding these trends may highlight emerging opportunities or declining interest in certain property types. Appraisers and insurance agents can derive risk assessments and valuation strategies based on these occupancy shifts, making it essential to adapt to current dynamics for more profitable and secure outcomes.
Economic Outlook
Dakota County, Minnesota has shown a steady rise in average taxable income, climbing from $72,009.79 in 2013 to $96,431.44 in 2021. This points to potential economic growth and property investment prospects, although yearly fluctuations hint at economic adjustments. Meanwhile, average state and local income taxes have nearly doubled over the last decade, reaching $14,567.31 in 2021, likely affecting investment and relocation decisions. Overall tax liabilities have risen too, from $11,740.31 in... Read more
Average Taxable Income per Tax Return in Dakota County, MN over the last 9 years
Dakota County, Minnesota has seen a steady increase in average taxable income per tax return over the past nine years. From $72,009.79 in 2013 to $96,431.44 in 2021, there is an observable trend indicating robust economic growth in the area. This upward trajectory might suggest a thriving local economy, potentially making Dakota County an attractive location for property investors, real estate agents, and those considering relocating. However, the fluctuations in the yearly increments also hint at periods of economic adjustment, which could be valuable information for appraisers and insurance agents evaluating risk and property value stability.
Average State and Local Income Taxes Per Tax Return in Dakota County, MN Over the Last 10 Years
In Dakota County, Minnesota, the average state and local income taxes per tax return has generally seen an upward trend over the last decade. Starting at $7,238.37 in 2012, these taxes have risen steadily, peaking at $14,567.31 in 2021. Notably, there were significant jumps in 2018 and 2019, with taxes reaching $12,298.85 and $13,061.63, respectively. This potentially indicates increasing tax burdens which could impact decisions surrounding investment, relocation, and development within the area.
Average Total Tax Liability Per Tax Return in Dakota County, MN Over the Last 10 Years
Over the past decade, Dakota County, Minnesota has seen a notable increase in average total tax liability per tax return, growing from $11,740.31 in 2012 to $15,969.85 in 2021. This steady uptick, with minor fluctuations, could suggest rising property values and possibly higher income levels, which might be of interest to real estate agents, appraisers, and potential investors monitoring economic growth and property market trends in the region.
Cost of Living in Dakota County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $2,038 | $1,681 | $1,609 | $2,666 | $2,264 |
| 1 adult 4 children | $2,038 | $1,373 | $1,259 | $2,666 | $2,446 |
| 2 adults 3 children | $2,038 | $1,373 | $1,381 | $2,666 | $2,024 |
| 1 adult 3 children | $2,038 | $1,121 | $1,032 | $2,666 | $2,250 |
| 2 adults 2 children | $1,500 | $1,124 | $1,154 | $2,368 | $1,546 |
| 1 adult 2 children | $1,500 | $840 | $804 | $2,368 | $1,699 |
| 2 adults 1 child | $1,500 | $888 | $927 | $1,399 | $1,195 |
| 1 adult 1 child | $1,500 | $574 | $577 | $1,399 | $1,239 |
| 2 adults | $1,222 | $714 | $699 | $0 | $784 |
| 1 adult | $1,071 | $389 | $350 | $0 | $657 |
Safety trends & Data
Real estate in Dakota County, Minnesota may be impacted by its fluctuating property crime trends. Larceny-Theft incidents peaked at 2,227 in 2019 but subsequently declined to 911 by 2022. Burglary incidents also saw variations, peaking at 164 in 2019 and dropping to 77 in 2021, with a slight rise to 115 in 2022. While Motor Vehicle Theft has remained fairly stable, it did see a peak of 45 incidents in 2022. Vandalism cases reduced from 179 in 2020 to 116 by 2022. These trends could potentially... Read more
Property Crime Trends in Dakota County, MN Over the Last 5 Years
Dakota County, Minnesota has seen some interesting property crime trends over the last five years. Larceny-Theft and Burglary are notably the most prevalent, with Larceny-Theft peaking at 2,227 incidents in 2019 and then declining to 911 incidents by 2022. Burglary incidents have also fluctuated, reaching as high as 164 in 2019 and dropping to 77 in 2021, with a slight uptick to 115 in 2022. Motor Vehicle Theft has remained relatively low but consistent, peaking at 45 incidents in 2022. There’s a noticeable decrease in Vandalism, with 179 cases in 2020 falling to 116 by 2022. These trends may inform investment decisions, property appraisals, or even insurance premiums for those considering involvement in Dakota County's real estate market.
Demographics
Dakota County, Minnesota shows a nearly even split between male and female adults, with a slight majority of females. Educational attainment suggests a relatively high level of education, as a significant portion of the population holds at least a bachelor's degree. The age distribution is diverse but leans towards a mature demographic, with notable concentrations in the 35 to 64-year age range. Racially, the county is predominantly White, although there is a notable presence of other groups... Read more
Race Distribution in Dakota County, Minnesota (2022)
Educational Attainment in Dakota County, Minnesota (2022)
Age Distribution in Dakota County, Minnesota
Citizen Population in Dakota County, Minnesota (2022)
Political Trends & Data
In Dakota County, Minnesota, the 2020 U.S. Presidential Election results implied a lean towards Democratic candidates, who reportedly secured 55.7% of the vote compared to Republicans’ 41.8%. Minor party candidates attracted about 2.5%. This trend might indicate shifting demographics or evolving political views, which could subtly influence local real estate markets depending on the community’s priorities and... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In the 2020 U.S. Presidential Election, Dakota County, Minnesota, exhibited a trend where Democratic candidates arguably had a stronger presence with approximately 55.7% of the vote. Republicans followed with about 41.8%, while Libertarians and other minor party candidates collectively garnered roughly 2.5%. The higher support for Democrats in this county could possibly reflect demographic shifts or evolving political attitudes within the region.
41.81% of voters voted for the Republican party in the 2020 Presidential Election
55.73% of voters voted for the Democrat party in the 2020 Presidential Election
1.13% of voters voted for the Livertarian party in the 2020 Presidential Election
0.32% of voters voted for the Green party in the 2020 Presidential Election
1.02% of voters voted for the Other party in the 2020 Presidential Election
School Data
Dakota County, Minnesota has seen its student-to-teacher ratios fluctuate from 16 in 2022 to a recent low of 13 in 2023, occasionally surpassing the national average of 14. This trend could intrigue investors, families, and real estate professionals, hinting at potential impacts on local education quality and property values. With lower ratios possibly signaling improved educational outcomes, real estate decisions might benefit from considering these educational... Read more
Student-to-teacher ratio in Dakota County, Minnesota over the last 10 years
Dakota County, Minnesota has exhibited fluctuations in its student-to-teacher ratios over the past decade, with values ranging from a high of 16 in 2022 to a low of 13 in 2023. While these figures occasionally exceed the national average of 14 students per teacher, the recent dip to 13 might intrigue potential investors, families, real estate agents, and insurance agents, suggesting potential impacts on local education quality and property values. Accurate appraisal and informed decision-making in real estate and educational investments could hinge on these dynamics, as student-to-teacher ratios often reflect broader educational and community health.
