Freeborn County Real Estate and Livability Trends
Freeborn County, Minnesota has witnessed rising taxable incomes, climbing from $48,880.43 in 2013 to $63,820.89 in 2021, hinting at economic improvement and potentially bolstering real estate stability. However, local tax burdens have surged notably, with state and local income taxes soaring from $6,534.15 in 2012 to $29,426.09 in 2021, possibly impacting residents' and investors' decisions.... Read more
Freeborn County Market Trends
Freeborn County, Minnesota has seen its median home values climb from $104,800 in 2015 to $154,700 in 2022, but these figures still trail behind state and national averages. Real estate taxes have also increased sharply, from around $2,282.42 in 2012 to approximately $3,893.18 in 2021, with the most significant jump between 2017 and 2018. Meanwhile, trends in residential energy tax credits have... Read more
Median Value of Occupied Housing Units in Freeborn County, Minnesota Over the Last 8 Years
Freeborn County, Minnesota has experienced a significant upward trend in median home values over the past eight years, rising from $104,800 in 2015 to $154,700 in 2022. While this growth is impressive, the county's median home value still lags behind both the state of Minnesota's substantial increase from $186,200 to $286,800 and the national growth from $125,500 to $179,400 within the same period. Investors and prospective homeowners might find Freeborn County an attractive market due to these relatively lower property values compared to state and national averages, suggesting potential for future growth.
Residential Energy Tax Credit Per Tax Return in Freeborn County, MN Over the Last 8 Years
Over the last eight years in Freeborn County, Minnesota, the average residential energy tax credit per tax return has shown notable variability. While the peak in 2016 at $431.71 and another high in 2021 at $437.14 suggest periodic spikes, the general trend indicates fluctuating incentives for energy-efficient home upgrades. These changes could impact decisions for homeowners considering enhancements, real estate agents advising clients, and investors assessing property values based on potential energy savings. The inconsistency in credits underscores the importance for insurance agents and appraisers to stay updated on local policies that influence property values.
Average Real Estate Taxes Per Tax Return in Freeborn County, MN Over the Last 10 Years
Real estate taxes per tax return in Freeborn County, Minnesota, have seen a notable increase over the past decade. In 2012, the average was around $2,282.42, but by 2021, this figure had risen to approximately $3,893.18. The most significant jump occurred between 2017 and 2018, where the average surged from $2,573.24 to $3,407.02. This trend could potentially impact investment decisions, property valuations, and insurance rates, making Freeborn County an area to watch for those in the real estate market.
Percentage of Farm Returns in Freeborn County, MN Over the Last 10 Years
Farm tax returns in Freeborn County, Minnesota have shown a slight but noticeable fluctuation over the past decade, ranging from 6.52% in 2012 to a lower 5.85% in 2020, with a tentative increase to 5.92% by 2021. These shifts could hint at trends affecting local agriculture, possibly pointing to changes in farming profitability or shifts in land use. For potential investors, new residents, or anyone interested in the local economy, these percentages offer a glimpse into the vitality and economic shifts within the county's agriculture sector, which could influence property values and local business opportunities.
Number of Mortgages by Occupancy Type in Freeborn County, MN Over the Last 5 Years in Freeborn County
In Freeborn County, Minnesota, the number of mortgages has shown significant variation across different occupancy types over the last five years. Principal residences have consistently dominated the market, peaking in 2021 with 1,463 mortgages, indicating a strong preference for single-family homes. Investment properties and second residences have remained relatively low but show subtle trends that might interest real estate investors and second-home buyers. Changes in the types of occupancy can affect property values, insurance premiums, and neighborhood dynamics, making it crucial for potential investors, real estate agents, and current residents to understand these shifts for better decision-making.
Economic Outlook
Average taxable incomes in Freeborn County, Minnesota have shown a notable rise from $48,880.43 in 2013 to $63,820.89 in 2021, hinting at economic improvement and potentially enhancing market stability for real estate. However, state and local income taxes per tax return have spiked dramatically from $6,534.15 in 2012 to $29,426.09 in 2021, presenting a hefty tax burden for residents and investors. The average total tax liability per tax return has also climbed from $7,374.93 in 2012 to a peak... Read more
Average Taxable Income per Tax Return in Freeborn County, MN over the last 9 years
Average taxable incomes in Freeborn County, Minnesota have generally trended upwards over the past nine years. From $48,880.43 in 2013 to $63,820.89 in 2021, the increase hints at a steady economic improvement in the area. This sustained growth could imply a promising environment for investing in property, real estate, or new business ventures. For potential homeowners and real estate professionals, this pattern may suggest a stronger purchasing power and market stability.
Average State and Local Income Taxes Per Tax Return in Freeborn County, MN Over the Last 10 Years
Over the last decade, Freeborn County, Minnesota has seen its average state and local income taxes per tax return rise significantly, jumping from around $6,534.15 in 2012 to a staggering $29,426.09 by 2021. This substantial increase could signal a higher cost for residents and prospective property investors. While the growth may reflect broader economic changes, it undoubtedly represents a heavier tax burden that's worth considering for anyone planning to move to, invest in, or build property in the area.
Average Total Tax Liability Per Tax Return in Freeborn County, MN Over the Last 10 Years
Freeborn County, Minnesota has exhibited a fluctuating yet generally increasing trend in average total tax liability per tax return over the last decade. Starting at $7,374.93 in 2012 and peaking at $9,359.52 in 2020, the tax liability reveals nuanced economic developments influencing residents. This variability is of significant interest to those evaluating the financial landscape before making commitments in the area, whether through investment, property development, or real estate transactions. The uptick in recent years could reflect underlying changes in income levels or property values that could impact appraisals and insurance assessments.
Cost of Living in Freeborn County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,087 | $1,464 | $2,166 | $1,445 | $1,364 |
| 1 adult 4 children | $1,087 | $1,195 | $1,692 | $1,445 | $1,541 |
| 2 adults 3 children | $1,087 | $1,196 | $1,862 | $1,445 | $1,116 |
| 1 adult 3 children | $1,087 | $976 | $1,387 | $1,445 | $1,268 |
| 2 adults 2 children | $874 | $979 | $1,557 | $1,256 | $936 |
| 1 adult 2 children | $874 | $731 | $1,083 | $1,256 | $954 |
| 2 adults 1 child | $874 | $774 | $1,253 | $641 | $822 |
| 1 adult 1 child | $874 | $500 | $779 | $641 | $686 |
| 2 adults | $664 | $622 | $948 | $0 | $631 |
| 1 adult | $584 | $339 | $474 | $0 | $515 |
Safety trends & Data
Over the past five years, property crime trends in Freeborn County, Minnesota have fluctuated significantly. Larceny-theft peaked at 133.0 in 2019 and dropped to 59.0 in 2022, while burglary spiked to 43.0 in 2020 but dramatically fell to 9.0 by 2022. These patterns suggest dynamic factors influencing local crime rates, potentially affecting decisions for investors, new residents, and professionals like real estate agents and insurance... Read more
Property Crime Trends in Freeborn County, MN Over the Last 5 Years
Over the past five years, property crime trends in Freeborn County, Minnesota have shown noticeable fluctuations, with significant year-to-year variations. Notably, incidents of larceny-theft have seen considerable changes, peaking at 133.0 in 2019 before dropping to 59.0 in 2022. Burglary numbers spiked to 43.0 in 2020 but fell dramatically to 9.0 by 2022. There have been variations in motor vehicle theft, but no major spikes or consistent trends. Fraud and vandalism also displayed fluctuating figures, suggesting variable local factors influencing these trends. For anyone looking to invest, move, or professional service providers like appraisers, real estate agents, and insurance agents, these trends highlight a dynamic local scenario where property crime rates can significantly vary, impacting decisions and evaluations.
Demographics
Freeborn County, Minnesota, shows a balanced gender distribution with slightly more females than males. The region features a significant portion of its population as high school graduates or with some college education, but fewer with advanced degrees. Ages skew older, with a notable chunk over 55 years. The racial makeup is predominantly White with small but present Black, Asian, and other minority communities reflective of a somewhat diverse, albeit majority White, population. This... Read more
Race Distribution in Freeborn County, Minnesota (2022)
Educational Attainment in Freeborn County, Minnesota (2022)
Age Distribution in Freeborn County, Minnesota
Citizen Population in Freeborn County, Minnesota (2022)
Political Trends & Data
In Freeborn County, Minnesota, the 2020 U.S. Presidential Election data shows the Republican party secured about 57% of the vote, with the Democratic party capturing 41%. Third-party options collectively garnered just over 2%, indicating their limited impact. This voting pattern may reflect broader regional or demographic trends, possibly aligned with rural and suburban... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Freeborn County, Minnesota, the 2020 U.S. Presidential Election results seemed to favor the Republican party, which garnered about 57% of the vote. Meanwhile, the Democratic party secured around 41%, suggesting a notable preference for conservative candidates. Third-party options like the Libertarian and Green parties, along with other candidates, collectively captured just over 2% of the total votes, indicating limited influence. This distribution might reflect broader regional or demographic trends, possibly aligning with rural and suburban voting patterns typically seen in similar counties.
56.95% of voters voted for the Republican party in the 2020 Presidential Election
40.96% of voters voted for the Democrat party in the 2020 Presidential Election
0.87% of voters voted for the Livertarian party in the 2020 Presidential Election
0.30% of voters voted for the Green party in the 2020 Presidential Election
0.92% of voters voted for the Other party in the 2020 Presidential Election
School Data
In Freeborn County, Minnesota, the recent spike in the student-to-teacher ratio to 27 students per teacher in 2022 stands out as an anomaly against the usual national average of 14. This fluctuation may impact local real estate by affecting perceptions of educational quality, a key factor for families when choosing where to live. Educators, appraisers, and potential investors should consider how such educational metrics play into property valuations and local market... Read more
Student-to-teacher ratio in Freeborn County, Minnesota over the last 10 years
In Freeborn County, Minnesota, the student-to-teacher ratio has generally hovered around the national average of 14 students per teacher, with notable fluctuations. In recent years, the ratio saw a significant spike in 2022, reaching as high as 27 students per teacher, which might indicate a temporary or anomaly in staffing or enrollment trends. For educators, appraisers, and potential real estate investors, understanding these shifts is critical; a lower student-to-teacher ratio typically suggests better individual student attention and potentially higher educational quality, which can influence property values and the desirability of the area for families.
