Martin County Real Estate and Livability Trends
In Martin County, Minnesota, median home values have seen consistent growth, rising from $105,400 in 2015 to $148,100 in 2022, signaling a thriving yet affordable real estate market. The number of mortgages on principal residences fluctuated significantly, peaking at 890 in 2020 before falling to 500 in 2022, suggesting a dynamic lending environment. Real estate taxes increased notably, from... Read more
Martin County Market Trends
Martin County, Minnesota has seen its median home values rise from $105,400 in 2015 to $148,100 in 2022, showing significant growth, yet still offering relatively affordable housing compared to national and state averages. Over this period, residential energy tax credits in Martin County have seen notable fluctuations, peaking at $621.43 in 2021, reflecting a dynamic market for energy-efficient... Read more
Median Value of Occupied Housing Units in Martin County, Minnesota Over the Last 8 Years
Martin County, Minnesota has seen its median home values climb from $105,400 in 2015 to $148,100 in 2022, showing solid growth over the past eight years. When compared to the national median, which grew from $125,500 to $179,400 in the same period, Martin County appears to offer relatively more affordable housing. Additionally, the state of Minnesota's median home values surged from $186,200 to $286,800, indicating that Martin County may present a more economical option within the state, making it potentially attractive for both investors and residents looking for lower entry points.
Residential Energy Tax Credit Per Tax Return in Martin County, MN Over the Last 8 Years
Over the last eight years, Martin County, Minnesota, has experienced notable fluctuations in average residential energy tax credits per tax return. After a dip to $222.22 in 2017, there was a sharp increase, peaking at $621.43 in 2021. These trends could suggest varying levels of investment in energy-efficient home improvements, potentially influenced by evolving local economic conditions or incentives. For investors, appraisers, and real estate professionals, this volatility highlights an active but unpredictable market for residential energy upgrades, which may impact property values and insurance assessments.
Average Real Estate Taxes Per Tax Return in Martin County, MN Over the Last 10 Years
In Martin County, Minnesota, average real estate taxes per tax return have shown a notable upward trend over the past decade. From $1,893.30 in 2012, taxes experienced a significant increase to $3,294.74 by 2021. The most striking jumps occurred between 2016 and 2017, where taxes rose by almost $700, peaking again in 2018 at $3,165.91. This steady rise may reflect changing property values, shifts in municipal budgets, or other economic factors, and should be a key consideration for anyone evaluating the area's real estate market or financial obligations.
Percentage of Farm Returns in Martin County, MN Over the Last 10 Years
Farm tax returns in Martin County, Minnesota have fluctuated slightly over the past decade but have generally hovered around 8-9%. This reflects a modest but stable agricultural sector, critical for investors considering the long-term potential of agribusiness in the area. Such stability is attractive for those looking to invest in or develop property, especially when considering the region's commitment to farming and agricultural outputs. The data suggests potential for steady cash flows and resilience against broader economic volatility.
Number of Mortgages by Occupancy Type in Martin County, MN Over the Last 5 Years in Martin County
In Martin County, Minnesota, over the past five years, there's been a notable fluctuation in the number of mortgages across different property types. Principal residences have consistently had the highest number of mortgages, peaking at 890 in 2020 and dropping to 500 in 2022. Mortgages for investment properties have remained relatively stable but low, hovering around the mid-20s each year. Second residences experienced a significant drop, from 36 in 2020 to just 8 in 2022. Shifts in occupancy type might signal changing market dynamics, such as a cooling real estate market or a surge in economic factors affecting home purchasing decisions. For investors, developers, and real estate professionals, understanding these trends is crucial for strategic planning and risk assessment.
Economic Outlook
Martin County, Minnesota has experienced fluctuating average taxable incomes over the past nine years, maximizing at $70,547.08 in 2021, hinting at economic growth and increased earning potential. An uptick in state and local taxes, rising from $8,612.32 in 2012 to $11,397.50 by 2021, could reflect higher incomes or climbing tax rates, key factors for investors and residents in financial planning. Additionally, average tax liabilities saw a significant increase from $7,793.73 in 2018 to... Read more
Average Taxable Income per Tax Return in Martin County, MN over the last 9 years
Martin County, Minnesota has seen substantial fluctuations in average taxable income per tax return over the past nine years, peaking in 2021 at $70,547.08. Notably, after a dip in 2017 to $52,084.64, the income figures showcased a steady rise. This overall upward trend could imply economic growth and increased earning potential in the county, making it potentially lucrative for investors and appealing for new residents. However, the income variance also signals economic volatility that stakeholders should consider.
Average State and Local Income Taxes Per Tax Return in Martin County, MN Over the Last 10 Years
Martin County, Minnesota has seen a notable increase in average state and local income taxes per tax return over the last decade. Starting from $8,612.32 in 2012, there's a marked upward trend, peaking at $11,397.50 in 2021. This increase might suggest rising incomes or higher tax rates, impacting both potential residents and investors. For those considering building property or new businesses, this could influence financial planning and long-term investment strategies.
Average Total Tax Liability Per Tax Return in Martin County, MN Over the Last 10 Years
Over the last decade, Martin County, Minnesota has seen noticeable fluctuations in average tax liabilities per return. Starting at $9,935.66 in 2012, there was a general downward trend until hitting a low of $7,793.73 in 2018. However, recent years show a significant uptick, jumping to $10,819.27 in 2021. These shifts could suggest economic variability, changes in local tax policies, or broader financial trends that might influence decisions for investors, homebuyers, and real estate professionals seeking insights into the local market dynamics.
Cost of Living in Martin County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,136 | $1,496 | $2,007 | $1,234 | $1,292 |
| 1 adult 4 children | $1,136 | $1,222 | $1,566 | $1,234 | $1,469 |
| 2 adults 3 children | $1,136 | $1,222 | $1,726 | $1,234 | $1,051 |
| 1 adult 3 children | $1,136 | $998 | $1,285 | $1,234 | $1,204 |
| 2 adults 2 children | $849 | $1,000 | $1,445 | $1,076 | $866 |
| 1 adult 2 children | $849 | $747 | $1,004 | $1,076 | $863 |
| 2 adults 1 child | $849 | $791 | $1,163 | $564 | $787 |
| 1 adult 1 child | $849 | $511 | $722 | $564 | $648 |
| 2 adults | $645 | $635 | $882 | $0 | $623 |
| 1 adult | $568 | $346 | $441 | $0 | $512 |
Safety trends & Data
Martin County, Minnesota, experienced fluctuating property crime trends over the last five years. Larceny-theft peaked in 2018 with 71 incidents but dropped to just 10 in 2020 before rising to 58 in 2022. Motor vehicle theft saw a spike in 2019 with 10 cases but has since steadied at around 2-3 incidents annually. Vandalism incidents surged to 31 in 2020, contrasting with single-digit occurrences in other years. This ebb and flow in crime statistics may reflect varying effectiveness of crime... Read more
Property Crime Trends in Martin County, MN Over the Last 5 Years
Martin County, Minnesota, has seen fluctuating property crime trends over the last five years. Notably, larceny-theft peaked in 2018 with 71 incidents but saw a significant drop in 2020 to just 10, before rising again to 58 in 2022. Motor vehicle theft has remained relatively low but spiked in 2019 at 10 cases, then steadied around 2-3 incidents per year. Cases of vandalism surged in 2020 with 31 recorded incidents, compared to single digits in other years. These trends may indicate varying effectiveness of crime prevention measures or shifting crime patterns, critical for investors, appraisers, and real estate professionals assessing regional security and property values.
Demographics
In Martin County, Minnesota, the adult population is nearly balanced between males and females. Educational attainment reveals that a significant portion of adults have completed high school, with some proceeding to higher education, though a noteworthy number have some college experience without earning a degree. The age distribution suggests an older population, especially noticeable in the 55-to-64 age bracket. Racial diversity is minimal, with a dominant White demographic and small... Read more
Race Distribution in Martin County, Minnesota (2022)
Educational Attainment in Martin County, Minnesota (2022)
Age Distribution in Martin County, Minnesota
Citizen Population in Martin County, Minnesota (2022)
Political Trends & Data
Martin County, Minnesota has a notable conservative leaning, with approximately 68% of the vote going to Republican candidates in the 2020 Presidential Election. With Democrats securing around 30% and minor party candidates having minimal impact, the political culture here may influence local policies and voter turnout, shaping the community's overall... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Martin County, Minnesota shows a clear preference for Republican candidates with approximately 68% of the vote in the 2020 Presidential Election. Democrats garnered just about 30%, while Libertarians and Green Party candidates had negligible impacts. This trend could suggest a strong conservative leaning in local political culture, potentially influencing both local policies and voter turnout patterns.
67.94% of voters voted for the Republican party in the 2020 Presidential Election
30.02% of voters voted for the Democrat party in the 2020 Presidential Election
0.89% of voters voted for the Livertarian party in the 2020 Presidential Election
0.22% of voters voted for the Green party in the 2020 Presidential Election
0.93% of voters voted for the Other party in the 2020 Presidential Election
School Data
Martin County, Minnesota has seen its student-to-teacher ratios fluctuate between 12 and 15 over the past decade, with notable peaks in 2019 and 2022. In 2020, the ratio dipped to 12, reflecting potential shifts in educational resources and priorities. These trends could impact real estate decisions, as educational quality is often a key factor for buyers, investors, and even appraisers, influencing property values in the area. Understanding these patterns might provide insights into the... Read more
Student-to-teacher ratio in Martin County, Minnesota over the last 10 years
Martin County, Minnesota has experienced varying student-to-teacher ratios over the past decade, with values fluctuating between approximately 12 and 15. Notably, years like 2019 and 2022 saw ratios peaking at around 15, slightly above the national average of 14 students per teacher. Conversely, the ratio dropped significantly to 12 in 2020. These fluctuations could indicate shifting educational dynamics and resource allocation in the county, impacting decisions for potential investors, real estate agents, and those considering relocation. They could also inform appraisals and insurance evaluations as educational quality often influences property values. If you're planning to build or invest in Martin County, understanding these trends might offer valuable insights into the local community's priorities and growth potential.
