Itasca County Real Estate and Livability Trends
In Itasca County, Minnesota, real estate professionals and investors might find interest in the region's economic trends and property values. Average taxable income per tax return has risen from roughly $51,015.98 in 2013 to around $70,233.32 in 2021, while the median value of occupied housing units increased from $155,500 in 2015 to $198,500 in 2022, suggesting potential economic growth. Real... Read more
Itasca County Market Trends
In Itasca County, Minnesota, the median value of occupied housing units increased from $155,500 in 2015 to $198,500 in 2022, remaining more affordable compared to state and national averages. Residential energy tax credits saw significant growth, particularly peaking in 2018 at $1,466.67, likely reflecting increased energy-efficient upgrades. Real estate taxes soared, averaging $4,204.65 per... Read more
Median Value of Occupied Housing Units in Itasca County, Minnesota Over the Last 8 Years
The median value of occupied housing units in Itasca County, Minnesota has demonstrated a steady increase over the past eight years, jumping from $155,500 in 2015 to $198,500 in 2022. While this growth is notable, it still lags behind the state average, which saw home values rise from $186,200 to $286,800 over the same period. Nationally, the median home value increased from $125,500 in 2015 to $179,400 in 2022. This suggests that while Itasca County is experiencing growth, it remains a more affordable option compared to broader state and national trends, which could be appealing for investors or families looking for cost-effective housing options in Minnesota.
Residential Energy Tax Credit Per Tax Return in Itasca County, MN Over the Last 9 Years
Itasca County, Minnesota has exhibited significant fluctuations in the average residential energy tax credit per tax return over the past nine years. There was a notable spike in 2018 when the average tax credit rose dramatically to around $1466.67, suggesting a substantial increase in residential energy upgrades during that period. The increased averages in recent years, such as $738.71 in 2021, might imply ongoing investment in energy-efficient home improvements. These trends could be particularly interesting for real estate agents, investors, and insurance agents as they indicate a potential growing awareness and adoption of energy-efficient initiatives in the region.
Average Real Estate Taxes Per Tax Return in Itasca County, MN Over the Last 10 Years
Over the last decade, real estate taxes in Itasca County, Minnesota have generally trended upwards, with the average per tax return climbing from approximately $2,412.78 in 2012 to around $4,204.65 by 2021. Notably, there were sharp increases during the years 2017 to 2020, peaking in 2020 at an average of $4,447.87. This increase could be of interest to those investing in the area, reflecting possible shifts in property values and local tax policies. Real estate agents, appraisers, and insurance agents might find this trend indicative of a growing real estate market, while potential homeowners should factor in these rising taxes when considering moving to the region.
Percentage of Farm Returns in Itasca County, MN Over the Last 10 Years
Over the past decade, the percentage of farm tax returns in Itasca County, Minnesota, has generally fluctuated between approximately 1.61% and 2.00%, showing a slight downward trend. This data is valuable for those interested in the agricultural health of the region, indicating a modest but steady presence of farm-related economic activity. Farm tax returns, in this context, reflect the proportion of tax filings from farms relative to total returns, offering insights into the financial viability and sustainability of farming within the county. Shifts in these percentages can signal changes in the local agricultural landscape, potentially influencing property values, investment decisions, and the broader economic outlook for Itasca County.
Number of Mortgages by Occupancy Type in Itasca County, MN Over the Last 5 Years in Itasca County
Mortgages in Itasca County, Minnesota over the past five years show notable variations across different occupancy types. Principal residences consistently dominate the mortgage scene, peaking in 2020 with 2,806 mortgages but dropping to 1,611 by 2022. Investment properties and second residences maintained relatively low and stable mortgage counts, with investment properties ranging between 44 and 69 and second residences between 153 and 330. These changes in occupancy type can significantly impact local housing market trends, affecting property values, rental demand, and available inventory. For investors, higher principal residence mortgages may signal a stable or growing community, while consistent investment and second residence numbers might indicate balanced opportunities for rental and vacation property markets. For insurance agents and appraisers, understanding these trends helps in assessing risk and property valuations accurately.
Economic Outlook
Over the past decade, Itasca County, Minnesota has experienced a steady rise in average taxable income per tax return, increasing from approximately $51,015.98 in 2013 to around $70,233.32 in 2021. Additionally, state and local income taxes have climbed from roughly $5,605.70 in 2012 to about $14,547.73 in 2021, potentially indicating economic growth or heightened fiscal demands. The average total tax liability per tax return has also gone up from $7,034.90 in 2012 to $10,135.78 in 2021,... Read more
Average Taxable Income per Tax Return in Itasca County, MN over the last 9 years
Over the past nine years, the average taxable income per tax return in Itasca County, Minnesota has shown a steady increase, rising from approximately $51,015.98 in 2013 to about $70,233.32 in 2021. This growth suggests a positive economic trend that could appeal to potential investors, property developers, and real estate professionals considering opportunities in the area. The increase in taxable income could also hint at rising property values and higher living standards, topics relevant to appraisers and insurance agents evaluating risks and premiums.
Average State and Local Income Taxes Per Tax Return in Itasca County, MN Over the Last 10 Years
Itasca County, Minnesota is seeing a notable rise in average state and local income taxes per tax return over the past decade. Starting at approximately $5,605.70 in 2012, the taxes have consistently increased, peaking at about $14,547.73 in 2021. This upward trend might reflect economic growth or increased fiscal demands in the area. Potential investors, movers, or builders should consider these tax dynamics when planning financial commitments in the region.
Average Total Tax Liability Per Tax Return in Itasca County, MN Over the Last 10 Years
The average total tax liability per tax return in Itasca County, Minnesota has shown a noticeable increase over the past decade, rising from $7,034.90 in 2012 to $10,135.78 in 2021. This trend may suggest an economic growth or changes in tax policies impacting residents' financial commitments. For investors and real estate agents, this could indicate a stronger local economy and potentially higher property values. On the other hand, appraisers and insurance agents might find these figures useful when assessing risks and liabilities. Generally speaking, this upward trajectory in tax liabilities signals an evolving economic landscape in Itasca County.
Cost of Living in Itasca County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,166 | $1,440 | $1,894 | $1,589 | $1,408 |
| 1 adult 4 children | $1,166 | $1,176 | $1,477 | $1,589 | $1,621 |
| 2 adults 3 children | $1,166 | $1,176 | $1,629 | $1,589 | $1,171 |
| 1 adult 3 children | $1,166 | $960 | $1,212 | $1,589 | $1,363 |
| 2 adults 2 children | $958 | $963 | $1,365 | $1,384 | $986 |
| 1 adult 2 children | $958 | $719 | $947 | $1,384 | $1,053 |
| 2 adults 1 child | $958 | $761 | $1,100 | $717 | $864 |
| 1 adult 1 child | $958 | $492 | $682 | $717 | $751 |
| 2 adults | $728 | $611 | $835 | $0 | $645 |
| 1 adult | $723 | $333 | $417 | $0 | $568 |
Safety trends & Data
Itasca County, Minnesota, has seen notable changes in property crimes over the past five years. Larceny-theft peaked at 64.0 cases in 2020 but dropped significantly to 22.0 in 2021, while motor vehicle thefts rose in 2020 with 12.0 incidents before sharply decreasing. Fraud and vandalism have stayed relatively steady but remain persistent issues. These crime trends could affect property values and shape community priorities, providing valuable insights for investors, real estate agents, and... Read more
Property Crime Trends in Itasca County, MN Over the Last 5 Years
Over the past five years in Itasca County, Minnesota, there's been notable fluctuation in property crimes, specifically larceny-theft, which peaked at 64.0 cases in 2020 before dropping significantly to 22.0 in 2021. Motor vehicle thefts saw a concerning rise in 2020 with 12.0 incidents, though they sharply decreased in the following years. Fraud and vandalism incidents have remained relatively steady but pose consistent concerns. This data offers crucial insights for potential investors, real estate agents, and new residents about the crime landscape, potentially influencing property values and shaping community priorities.
Demographics
Itasca County, Minnesota shows a nearly balanced gender distribution, with a slight male majority. Education levels reveal that most residents have a high school diploma or some college experience, while fewer hold advanced degrees. The age distribution suggests a significant number of residents are nearing retirement, with a large concentration between 55 to 74 years. The racial demographics indicate an overwhelmingly White population, with smaller representations of Native American, African... Read more
Race Distribution in Itasca County, Minnesota (2022)
Educational Attainment in Itasca County, Minnesota (2022)
Age Distribution in Itasca County, Minnesota
Citizen Population in Itasca County, Minnesota (2022)
Political Trends & Data
In Itasca County, Minnesota, Republican candidates appeared to capture around 57% of the vote compared to approximately 41% for Democrats in the 2020 U.S. Presidential Election. This trend might suggest a conservative tilt in the area. Third-party influence was negligible, with Libertarians, Green Party candidates, and other parties collectively capturing less than 2% of the... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Itasca County, Minnesota, Republican candidates seemed to garner more support than Democrats in the 2020 U.S. Presidential Election, with a notable gap in percentages—approximately 57% for Republicans compared to roughly 41% for Democrats. Libertarians and Green Party candidates appeared to have minimal impact, capturing less than 1% each, while other parties combined had just under 1%. This voting pattern might indicate a stronger lean towards conservative values in this region.
57.37% of voters voted for the Republican party in the 2020 Presidential Election
40.61% of voters voted for the Democrat party in the 2020 Presidential Election
0.93% of voters voted for the Livertarian party in the 2020 Presidential Election
0.29% of voters voted for the Green party in the 2020 Presidential Election
0.80% of voters voted for the Other party in the 2020 Presidential Election
School Data
In Itasca County, Minnesota, the student-to-teacher ratio has risen sharply to 19 students per teacher in 2023, up from a recent low of 13 in 2019 and 2020. This increase, compared to the national average of 14, could suggest overburdened school resources, influencing classroom effectiveness and individual attention. For investors, families, and real estate professionals, this trend may impact local desirability and home values. Insurers and builders might also consider these changes as they... Read more
Student-to-teacher ratio in Itasca County, Minnesota over the last 10 years
Over the last decade, the student-to-teacher ratio in Itasca County, Minnesota has varied significantly, with a notable increase to 19 students per teacher in 2023 from a low of 13 in 2019 and 2020. While the national average sits around 14 students per teacher, Itasca County's rising numbers may impact classroom effectiveness and individual student attention. For families considering a move or investors evaluating property values, this trend could be a signal of overburdened school resources. Real estate agents and appraisers might also find these figures relevant when advising clients, as higher student-to-teacher ratios can sometimes be associated with reduced educational outcomes, potentially influencing local desirability and home values. Insurers and builders should pay attention to these changes, as they may affect the demand for both new developments and existing properties in the area.
