Mahnomen County Real Estate and Livability Trends
Mahnomen County, Minnesota has seen an increase in average taxable income per tax return, rising from $40,722.27 in 2013 to $55,698.24 in 2021, possibly indicating a strengthening local economy. Median home values also surged from $97,300 in 2015 to $132,900 in 2022, gradually closing in on the state average. Property taxes and residential energy tax credits have displayed notable volatility,... Read more
Mahnomen County Market Trends
Mahnomen County, Minnesota's median home values have grown from $97,300 in 2015 to $132,900 in 2022, closing the gap with Minnesota's state average, which increased from $186,200 to $286,800 during the same period. Residential energy tax credits have shown volatility, peaking at $560.00 in 2014 and dipping to $200.00 in 2015, signaling variable returns for energy-efficient investments. Real... Read more
Median Value of Occupied Housing Units in Mahnomen County, Minnesota Over the Last 8 Years
Mahnomen County, Minnesota's median home values have demonstrated noticeable growth over the last eight years, rising from $97,300 in 2015 to $132,900 in 2022. While still lower than Minnesota's state average, which increased from $186,200 to $286,800 during the same period, Mahnomen County's home values are catching up at a steady pace and offer relatively affordable housing options. This is particularly significant when compared to the national median home value that surged from $125,500 to $179,400, making Mahnomen County an appealing spot for potential homebuyers looking for affordability and investment opportunities.
Residential Energy Tax Credit Per Tax Return in Mahnomen County, MN Over the Last 5 Years
Residential energy tax credits in Mahnomen County, Minnesota have shown notable fluctuations over the past five years. Following a peak in 2014 at $560.00, the average credit saw a significant dip in 2015 to $200.00, with further variability observed in subsequent years. This trend indicates potential volatility in investment returns for energy-efficient residential properties, which might interest real estate investors and those considering green home improvements. Understanding these shifts can help appraisers and insurance agents assess the risk and value attached to energy upgrades, while builders and real estate agents can tailor their strategies to market needs and shifts.
Average Real Estate Taxes Per Tax Return in Mahnomen County, MN Over the Last 10 Years
Mahnomen County, Minnesota has seen fluctuations in average real estate taxes per tax return, starting at approximately $1,807.41 in 2012 and reaching a notable peak of $3,450.00 in 2021. This upward trend, with occasional dips, highlights a gradual increase in property tax obligations that could impact decisions for investment, property development, and residential planning. This kind of volatility can be a crucial factor for financial planning and could make the county attractive or challenging based on individual financial strategies and expectations.
Percentage of Farm Returns in Mahnomen County, MN Over the Last 10 Years
Farm tax returns in Mahnomen County, Minnesota have fluctuated over the past decade, peaking in 2016 at around 11.61% and decreasing to about 9.34% in 2020. Investors and property developers in the area could interpret these figures as indicative of variable agricultural profitability and economic conditions influencing farming activities. This trend might highlight a need for careful consideration of timing and strategic planning when investing in or developing farm-related properties. Understanding these fluctuations can provide valuable insights into the local agricultural economy's health and impact property values and investment decisions.
Number of Mortgages by Occupancy Type in Mahnomen County, MN Over the Last 5 Years in Mahnomen County
In Mahnomen County, Minnesota, the number of mortgages for principal residences shows significant variability over the past five years, peaking in 2021 with 129 mortgages. In contrast, investment property mortgages remain relatively stable, hovering around the single digits. Meanwhile, second residence mortgages have seen moderate fluctuation, peaking in 2021 but generally staying within the range of 11 to 30. These shifts in occupancy types may influence market dynamics, potentially affecting property values, rental demand, and insurance premiums. For investors, real estate agents, and insurance agents, understanding these trends could be vital in making informed decisions related to property acquisitions, valuations, and risk assessments.
Economic Outlook
The average taxable income per tax return in Mahnomen County, Minnesota, has shown a steady increase from around $40,722.27 in 2013 to approximately $55,698.24 in 2021, suggesting a possibly strengthening local economy and rising wages. Fluctuations in state and local income taxes, with notable peaks and troughs, could reflect shifting economic conditions or policy changes. The rise in average total tax liability, from $5,569.38 in 2012 to $7,369.44 by 2021, may indicate higher income levels... Read more
Average Taxable Income per Tax Return in Mahnomen County, MN over the last 9 years
The average taxable income per tax return in Mahnomen County, Minnesota has seen a generally upward trend over the past nine years, starting at approximately $40,722.27 in 2013 and rising to roughly $55,698.24 by 2021. This consistent increase could indicate a strengthening local economy and possibly rising wages, which might be of particular interest to potential investors, real estate agents, and those considering relocation to the area. Such financial trends also carry implications for appraisers and insurance agents as they assess property values and risk.
Average State and Local Income Taxes Per Tax Return in Mahnomen County, MN Over the Last 10 Years
Over the last decade, average state and local income taxes per tax return in Mahnomen County, Minnesota, have shown significant fluctuations. Notable peaks in 2013 and 2021 saw figures as high as $6,500.00, reflecting potentially changing economic conditions or policy shifts. The substantial dip in 2018, dropping to $3,450.00, might suggest economic downturns or tax policy adjustments. Investors and potential residents should consider these tax trends as an indicator of the area's financial environment and its impact on cost of living and returns on investment.
Average Total Tax Liability Per Tax Return in Mahnomen County, MN Over the Last 10 Years
The average total tax liability per tax return in Mahnomen County, Minnesota, has shown a generally upward trend over the last decade. Notably, there has been a considerable increase from $5,569.38 in 2012 to $7,369.44 in 2021. This rise in tax liability could hint at higher income levels among residents, possibly making the county more attractive for investors, homebuyers, and those involved in real estate or property development. Increased tax liabilities can also signal shifts in local economic conditions that might interest appraisers and insurance agents looking to assess risk and property values in the area.
Cost of Living in Mahnomen County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,005 | $1,504 | $1,792 | $1,445 | $1,262 |
| 1 adult 4 children | $1,005 | $1,228 | $1,396 | $1,445 | $1,457 |
| 2 adults 3 children | $1,005 | $1,229 | $1,542 | $1,445 | $1,032 |
| 1 adult 3 children | $1,005 | $1,003 | $1,146 | $1,445 | $1,203 |
| 2 adults 2 children | $826 | $1,006 | $1,292 | $1,256 | $893 |
| 1 adult 2 children | $826 | $751 | $896 | $1,256 | $922 |
| 2 adults 1 child | $826 | $795 | $1,042 | $641 | $790 |
| 1 adult 1 child | $826 | $513 | $646 | $641 | $666 |
| 2 adults | $644 | $639 | $792 | $0 | $619 |
| 1 adult | $552 | $348 | $396 | $0 | $513 |
Safety trends & Data
Over the past five years, Mahnomen County, Minnesota has seen notable fluctuations in property crimes. An increase in fraud cases up from 1 in 2018 to 6 in 2022, and varying motor vehicle thefts peaking at 3 annually for two years but reducing to 2 recently. Burglary incidents have generally remained low with a slight uptick only in 2021. Instances of vandalism have remained consistent. These trends could influence property security measures and insurance needs for those considering investing... Read more
Property Crime Trends in Mahnomen County, MN Over the Last 5 Years
Over the past five years, Mahnomen County, Minnesota has experienced fluctuations in various types of property crimes. An increasing trend in fraud cases, rising from 1 in 2018 to 6 in 2022, is notable. Motor vehicle thefts peak at 3 annually for two years, reducing to 2 recently. Burglary incidents have generally stayed low, with a slight uptick only in 2021. Interestingly, the instances of vandalism have somewhat remained consistent. For those looking to invest or build in Mahnomen County, keeping an eye on these trends could be critical for assessing property security measures and insurance needs.
Demographics
Mahnomen County, Minnesota shows a relatively balanced gender distribution among adults and a diverse age range, with significant representation in both younger and older demographics. The county's educational attainment suggests that while a majority have completed high school or some college, fewer residents hold a bachelor’s or higher degree, which could influence local employability and economic growth potential. The racial composition highlights a considerable Native American population,... Read more
Race Distribution in Mahnomen County, Minnesota (2022)
Educational Attainment in Mahnomen County, Minnesota (2022)
Age Distribution in Mahnomen County, Minnesota
Citizen Population in Mahnomen County, Minnesota (2022)
Political Trends & Data
Mahnomen County, Minnesota witnessed a razor-thin margin in the 2020 U.S. Presidential Election, with Republicans narrowly edging out Democrats by approximately one percent. Third-party candidates like Libertarian and Green received minimal backing, pointing to a strong two-party preference. Interestingly, "Other" votes surpassed the combined total of all third-party choices, hinting at a noticeable deviation from traditional... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Mahnomen County, Minnesota, the 2020 U.S. Presidential Election reflected a closely contested race between the Republican and Democratic parties, with Republicans slightly leading by about one percent. Third-party candidates, including Libertarian and Green, garnered minimal support, suggesting a predominantly two-party dynamic. Votes categorized as "Other" slightly outnumbered the combined total for all third-party options, indicating some level of voter deviation from mainstream candidates.
49.57% of voters voted for the Republican party in the 2020 Presidential Election
48.26% of voters voted for the Democrat party in the 2020 Presidential Election
0.39% of voters voted for the Livertarian party in the 2020 Presidential Election
0.26% of voters voted for the Green party in the 2020 Presidential Election
1.52% of voters voted for the Other party in the 2020 Presidential Election
School Data
Mahnomen County, Minnesota, has seen wild shifts in its student-to-teacher ratio, with a high of 27 students per teacher in 2021 and a low of 17 in 2017. Currently, the ratio sits at 21, which is significantly higher than the national average of 14. For families considering a move, this might mean less individualized attention for students, potentially impacting their choice of location. Real estate professionals could see a ripple effect on property values and market dynamics, given the... Read more
Student-to-teacher ratio in Mahnomen County, Minnesota over the last 10 years
Mahnomen County, Minnesota, has seen considerable fluctuations in its student-to-teacher ratio over the past decade, peaking at 27 in 2021 and dropping to a low of 17 in 2017. Currently, the ratio is about 21 students per teacher, notably higher than the US national average of 14. These trends could impact decisions for families considering relocating to the area, as well as real estate agents and investors evaluating property values. Higher ratios may imply larger class sizes and potentially less individualized attention for students, influencing the desirability of the local education system and, consequently, property markets and community engagement. This data might also be significant for appraisers and insurance agents to assess risk factors related to regional demographics and infrastructure.
