Goodhue County Real Estate and Livability Trends
Goodhue County, Minnesota's real estate market shows promising growth, with median home values rising from $179,200 in 2015 to $254,500 in 2022. Increasing average taxable incomes and a notable rise in state and local income taxes suggest economic stability and higher property values. The county's residential energy tax credits peaked in 2018, indicating a push toward energy-efficient upgrades.... Read more
Goodhue County Market Trends
Goodhue County, Minnesota has experienced a steady increase in median home values, rising from $179,200 in 2015 to $254,500 in 2022, suggesting a balanced growth trajectory attractive to potential buyers or investors. Residential energy tax credits showed a notable spike in 2018 with an average credit of $4125.00, hinting at a local surge in energy-efficient upgrades, a trend that continued... Read more
Median Value of Occupied Housing Units in Goodhue County, Minnesota Over the Last 8 Years
Over the past eight years, the median home values in Goodhue County, Minnesota have seen a steady increase from $179,200 in 2015 to $254,500 in 2022. This growth trend appears to be slightly more accelerated compared to the national median, which rose from $125,500 to $179,400 over the same period. While Minnesota's state median also climbed from $186,200 to $286,800, Goodhue County has maintained a more modest rise, suggesting it might be an appealing location for potential homebuyers or investors looking for growth without the same intensity seen statewide. This could offer a more balanced investment environment within Minnesota or even compared to the broader U.S. market.
Residential Energy Tax Credit Per Tax Return in Goodhue County, MN Over the Last 9 Years
Residential energy tax credits in Goodhue County, Minnesota, have shown notable variability over the past nine years. The most striking data point is from 2018, with an average credit of $4125.00, significantly higher than other years, suggesting a possible boom in energy-efficient upgrades or installations. Post-2018, there’s a steady upward trend, with credits rising from $662.86 in 2019 to $892.86 in 2021. This could indicate growing awareness and adoption of energy-efficient practices among homeowners. For real estate investors, appraisers, and insurance agents, this trend might signify a shift towards more energy-efficient homes, potentially affecting property values and insurance rates.
Average Real Estate Taxes Per Tax Return in Goodhue County, MN Over the Last 10 Years
Over the past decade, average real estate taxes per tax return in Goodhue County, Minnesota have gradually increased, starting from around $2,776.79 in 2012 and reaching approximately $4,253.69 by 2021. Notable jumps occurred between 2017 and 2019, suggesting possible changes in property values or tax policies. This upward trend might interest investors, appraisers, and real estate agents as it could indicate rising property values and potentially higher returns on investment. Additionally, current and prospective residents, as well as insurance agents, may need to consider these changes when planning budgets and assessing long-term costs.
Percentage of Farm Returns in Goodhue County, MN Over the Last 10 Years
In Goodhue County, Minnesota, the percentage of farm returns over the past decade has mostly declined. Starting at around 6.24% in 2012, it dropped to about 5.26% by 2020. There was a slight rebound to 5.36% in 2021. This trend might suggest that the profitability or viability of farming has been fluctuating in the region, which could impact decisions related to agricultural investments and property development. For potential investors, builders, or residents, understanding these shifts is crucial for making informed choices.
Number of Mortgages by Occupancy Type in Goodhue County, MN Over the Last 5 Years in Goodhue County
Over the last five years in Goodhue County, Minnesota, there's a noticeable trend of fluctuation in the number of mortgages specifically for principal residences, which peaked in 2020 and showed a significant decline by 2022. Investment property mortgages have seen a steadier volume, with slight variations year over year. The market for second residences remains minimal but consistent. These shifts in occupancy type can influence property values, investment potential, and insurance assessments. For real estate agents, investors, and builders, understanding these dynamics helps in forecasting demand and strategizing sales or development plans. Similarly, appraisers and insurance agents can tailor their evaluations and risk assessments based on these occupancy trends.
Economic Outlook
Goodhue County, Minnesota's real estate market appears to be on an upswing, with average taxable incomes climbing from $59,984.88 in 2013 to $80,378.17 in 2021. The concurrent rise in average state and local income taxes, from $5,940.80 to $12,944.16, along with a peak total tax liability of $12,154.85, suggests increasing property values and economic growth. These trends can be enticing for investors and homebuyers, indicating economic stability but also potentially higher property-related... Read more
Average Taxable Income per Tax Return in Goodhue County, MN over the last 9 years
Goodhue County, Minnesota has seen a notable upward trend in average taxable income per tax return over the past nine years. Starting at $59,984.88 in 2013 and reaching $80,378.17 by 2021, this growth could indicate a stronger local economy and elevated earning potential for residents. Such figures could be appealing to potential investors, real estate agents, and those considering moving to the area, given that higher average incomes often reflect economic stability and prosperity.
Average State and Local Income Taxes Per Tax Return in Goodhue County, MN Over the Last 10 Years
Over the past decade, Goodhue County, Minnesota, has seen a notable increase in average state and local income taxes per tax return, rising from approximately $5,940.80 in 2012 to around $12,944.16 in 2021. The steady climb, with significant jumps in recent years, could imply a growing tax burden on residents, which might be relevant for potential investors, homebuyers, and those considering relocation. This upward trend suggests evolving fiscal policies and economic conditions in the region, possibly impacting disposable income and economic behavior.
Average Total Tax Liability Per Tax Return in Goodhue County, MN Over the Last 10 Years
Over the past decade, Goodhue County, Minnesota has observed a notable increase in the average total tax liability per tax return, peaking at $12,154.85 in 2021. This rise may capture the interest of potential investors or property developers as higher tax liabilities typically hint at rising property values, growing income levels, or enhanced municipal services. For real estate agents and appraisers, this trend suggests a possibly appreciating market that could influence property appraisals and investment strategies. However, insurance agents might want to carefully consider how these increased liabilities affect property insurance costs and homeowners' ability to maintain premiums.
Cost of Living in Goodhue County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,309 | $1,528 | $2,363 | $1,589 | $1,723 |
| 1 adult 4 children | $1,309 | $1,248 | $1,848 | $1,589 | $1,890 |
| 2 adults 3 children | $1,309 | $1,248 | $2,030 | $1,589 | $1,434 |
| 1 adult 3 children | $1,309 | $1,019 | $1,514 | $1,589 | $1,582 |
| 2 adults 2 children | $921 | $1,022 | $1,697 | $1,384 | $1,067 |
| 1 adult 2 children | $921 | $763 | $1,181 | $1,384 | $1,128 |
| 2 adults 1 child | $921 | $808 | $1,364 | $717 | $924 |
| 1 adult 1 child | $921 | $522 | $848 | $717 | $802 |
| 2 adults | $783 | $649 | $1,031 | $0 | $734 |
| 1 adult | $693 | $354 | $515 | $0 | $583 |
Safety trends & Data
Goodhue County, Minnesota has experienced fluctuations in property crime over the last five years, with larceny-theft consistently being the most common offense. Burglaries and motor vehicle thefts have varied but remain significant, and notable levels of fraud and vandalism add to the overall dynamic landscape. This suggests potential implications for real estate decisions and property valuations, making it a key consideration for investors and... Read more
Property Crime Trends in Goodhue County, MN Over the Last 5 Years
Goodhue County, Minnesota has seen fluctuations in property crime over the last five years, with larceny-theft consistently being the most prevalent offense. While incidents of burglary and motor vehicle theft have varied, they remain significant concerns. Fraud and vandalism also show notable activity, warranting attention for those looking to invest or insure property in the area. The data suggests a dynamic landscape in property crimes, potentially impacting real estate decisions and valuations.
Demographics
In Goodhue County, Minnesota, the gender balance is quite even, with a slight majority of females over males. Education levels show a significant portion of the population as high school graduates, though a notable number have completed some college or attained associate, bachelor, and graduate degrees. The age distribution indicates a substantial chunk of the population is middle-aged, particularly those between 55 to 64 years old. The county's racial composition is predominantly White, with... Read more
Race Distribution in Goodhue County, Minnesota (2022)
Educational Attainment in Goodhue County, Minnesota (2022)
Age Distribution in Goodhue County, Minnesota
Citizen Population in Goodhue County, Minnesota (2022)
Political Trends & Data
Goodhue County, Minnesota leans Republican based on the 2020 U.S. Presidential Election, where 56% of the vote went to the GOP, and Democrats gathered around 41%. Third-party impact remains minimal, with Libertarians and Greens barely breaking the 1% mark. This political atmosphere likely influences local policies and community priorities, making it a critical factor for potential residents to... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Goodhue County, Minnesota showed a leaning towards the Republican party with a notable 56% of the vote in the 2020 U.S. Presidential Election. Democrats followed with approximately 41%, while smaller parties like the Libertarians and Greens captured minor shares of just over 1% and under 1%, respectively. This distribution suggests a primarily two-party competition, with third-party candidates making minimal impact.
56.06% of voters voted for the Republican party in the 2020 Presidential Election
41.23% of voters voted for the Democrat party in the 2020 Presidential Election
1.39% 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
0.97% of voters voted for the Other party in the 2020 Presidential Election
School Data
Goodhue County, Minnesota has experienced notable fluctuations in its student-to-teacher ratios over the past decade, typically around the national average of 14 students per teacher. A spike to nearly 24 students per teacher in 2023 could signal significant strain on educational resources. This trend may influence relocation decisions and impact community quality and property values, making it a key consideration for families, investors, real estate agents, appraisers, and insurance... Read more
Student-to-teacher ratio in Goodhue County, Minnesota over the last 10 years
Goodhue County, Minnesota has seen significant fluctuations in its student-to-teacher ratios over the past decade. Most years have hovered around the national average of 14 students per teacher, with values ranging between 13 and 15. However, a sharp increase to nearly 24 students per teacher in 2023 indicates potential strain on educational resources. These changes could influence decisions for families considering relocation, investors, real estate agents, appraisers, and insurance agents by highlighting potential impacts on community quality and property values.
