Mille Lacs County Real Estate and Livability Trends
In Mille Lacs County, Minnesota, average taxable income per tax return has climbed from $44,190.21 in 2013 to $64,580.02 by 2021, indicating potential economic growth in the region. Meanwhile, median home values surged from $140,900 in 2015 to $221,300 in 2022, outpacing national trends but staying below state averages. Trends like a rise in real estate taxes peaking at $3,629.03 in 2020 and a... Read more
Mille Lacs County Market Trends
Mille Lacs County, Minnesota has seen consistent growth in median home values, rising from $140,900 in 2015 to $221,300 in 2022, outpacing national median trends but remaining below the state average. This disparity suggests the county might attract buyers seeking value. Residential energy tax credits in the area have fluctuated, highlighting significant incentive peaks such as $2,200.00 in 2018,... Read more
Median Value of Occupied Housing Units in Mille Lacs County, Minnesota Over the Last 8 Years
Over the past eight years, median home values in Mille Lacs County, Minnesota have experienced consistent growth, rising from $140,900 in 2015 to $221,300 in 2022. This increase appears to outpace the national median, which grew from $125,500 to $179,400 during the same period. However, Mille Lacs County's home values remain lower than the state average, which surged from $186,200 to $286,800. This gap suggests the county could be a more affordable option within Minnesota, potentially attracting buyers looking for value while still appreciating significantly. For investors, moving to Mille Lacs County may offer strategic advantages due to its comparative affordability and steady appreciation rates.
Residential Energy Tax Credit Per Tax Return in Mille Lacs County, MN Over the Last 9 Years
Mille Lacs County, Minnesota has seen fluctuating residential energy tax credits per tax return over the past nine years, highlighting periods of significant incentive peaks such as 2018's spike to $2200.00. More recent years also show varying levels, with 2020 at $958.82 and 2021 at $1136.84, suggesting intermittent yet potentially substantial opportunities for homeowners investing in energy-efficient upgrades. This variability might interest those in real estate and property development, indicating active periods of energy improvements within the community.
Average Real Estate Taxes Per Tax Return in Mille Lacs County, MN Over the Last 10 Years
Mille Lacs County, Minnesota has seen a general upward trend in average real estate taxes per tax return over the past decade. Starting from $2,301.81 in 2012, the figure peaked at $3,629.03 in 2020 before a slight dip to $3,503.45 in 2021. This gradual increase could indicate a rise in property valuations or changes in local tax policies. For potential investors and current residents, understanding this trend is crucial for financial planning and gauging the county's economic landscape.
Percentage of Farm Returns in Mille Lacs County, MN Over the Last 10 Years
Mille Lacs County, Minnesota has seen a fairly steady decline in the percentage of farm tax returns over the past decade, dropping from approximately 5.75% in 2012 to around 4.34% in 2021. Farm tax returns represent the proportion of total tax filings that come from farm operations, indicating a general trend towards fewer active farm businesses or a shift in the economic focus of the area. This insight may be crucial for potential investors, property developers, and residents, as it suggests a shifting agricultural landscape which could impact land use decisions, economic opportunities, and community planning.
Number of Mortgages by Occupancy Type in Mille Lacs County, MN Over the Last 5 Years in Mille Lacs County
The number of mortgages for principal residences in Mille Lacs County, Minnesota, has shown a peak in 2021 and a decline in 2022. Investment property mortgages have remained relatively stable but lower in comparison, while second residence mortgages have fluctuated, with a notable spike in 2020. These changing trends in occupancy types could indicate shifting preferences or economic conditions, which may influence property values and demand patterns. For investors, real estate agents, and appraisers, understanding these dynamics is crucial for making informed decisions. For instance, the diverse mortgage activity underscores varying market stability and potential growth areas that could affect property evaluations and investment opportunities.
Economic Outlook
In Mille Lacs County, Minnesota, average taxable income per tax return has climbed from $44,190.21 in 2013 to $64,580.02 by 2021, suggesting an economic boost in the region. However, the average state and local income taxes per return have also spiked erratically, from $4,318.01 in 2012 to $11,500.00 in 2021, which could indicate changes in tax policies or evolving economic dynamics. Moreover, the average total tax liability per return has risen consistently from $5,412.30 in 2012 to $9,048.86... Read more
Average Taxable Income per Tax Return in Mille Lacs County, MN over the last 9 years
Mille Lacs County in Minnesota has experienced consistent growth in average taxable income per tax return over the last nine years. Starting at approximately $44,190.21 in 2013, the average income has steadily climbed, reaching about $64,580.02 by 2021. This trend suggests a potentially enhancing economic environment, which might be of interest to investors, property developers, real estate agents, and those considering relocating to the area. The growth in average taxable income could indicate a healthier local economy and increased earning potential for residents.
Average State and Local Income Taxes Per Tax Return in Mille Lacs County, MN Over the Last 10 Years
Over the past decade, Mille Lacs County in Minnesota has experienced a significant and somewhat erratic increase in average state and local income taxes per tax return. Starting at approximately $4,318.01 in 2012, this figure rose steadily with notable jumps in 2014 to about $5,562.12 and again in 2018 to roughly $7,898.55. The most striking surge appears in 2021, with average taxes per return spiking to $11,500.00. Such trends might suggest an evolving economic landscape or changing tax policies impacting the county, which potential investors, future residents, and property developers should consider.
Average Total Tax Liability Per Tax Return in Mille Lacs County, MN Over the Last 10 Years
Over the last decade in Mille Lacs County, Minnesota, the average total tax liability per tax return has shown a consistently upward trend. Starting from $5,412.30 in 2012, the liability saw increases each year, culminating at $9,048.86 by 2021. This steady rise, particularly notable with a sharper climb between 2019 and 2021, may reflect changes in local economic conditions, property values, and possibly increased tax rates. This insight could be significant for potential investors, insurance agents, and real estate professionals monitoring the fiscal landscape of the area.
Cost of Living in Mille Lacs County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,408 | $1,424 | $1,866 | $1,902 | $1,617 |
| 1 adult 4 children | $1,408 | $1,163 | $1,463 | $1,902 | $1,844 |
| 2 adults 3 children | $1,408 | $1,163 | $1,601 | $1,902 | $1,373 |
| 1 adult 3 children | $1,408 | $949 | $1,198 | $1,902 | $1,606 |
| 2 adults 2 children | $998 | $952 | $1,336 | $1,666 | $1,051 |
| 1 adult 2 children | $998 | $711 | $933 | $1,666 | $1,164 |
| 2 adults 1 child | $998 | $752 | $1,071 | $897 | $903 |
| 1 adult 1 child | $998 | $486 | $668 | $897 | $802 |
| 2 adults | $758 | $604 | $807 | $0 | $634 |
| 1 adult | $676 | $330 | $403 | $0 | $540 |
Safety trends & Data
Investors and real estate agents might find it notable that property crime trends in Mille Lacs County, Minnesota have fluctuated over the past five years, with larceny-theft incidents hovering around 40 annually and a significant drop in burglary from 31 in 2018 to just 10 in 2022. Motor vehicle theft remains relatively stable but peaked at 19 in 2019 before settling at 8. Fraud cases nearly doubled from 7 in 2018 to 17 in 2022. Appraisers and insurance agents should be mindful of these shifts... Read more
Property Crime Trends in Mille Lacs County, MN Over the Last 5 Years
Investors and real estate agents should note that property crime trends in Mille Lacs County, Minnesota have shown fluctuations over the past five years. Larceny-theft incidents have hovered around 40 annually, while burglary has seen a significant decline from 31 in 2018 to just 10 in 2022. Motor vehicle theft has remained relatively stable, although it peaked at 19 in 2019 before leveling back to 8. Interestingly, fraud cases almost doubled from 7 in 2018 to 17 in 2022. Appraisers and insurance agents might want to consider these variations as they could impact property valuations and insurance premiums. Those looking to build or move into the area should likewise be aware of these crime trends as part of their decision-making process.
Demographics
Mille Lacs County, Minnesota exhibits a nearly balanced gender distribution among adults, with males slightly outnumbering females. Educational attainment skews heavily towards high school graduates, with a noticeable drop-off in higher education degrees. The age distribution suggests a somewhat older population, with significant numbers in the 55 to 64 age bracket. The racial composition is predominantly White, but there is a notable presence of American Indian and Alaska Native... Read more
Race Distribution in Mille Lacs County, Minnesota (2022)
Educational Attainment in Mille Lacs County, Minnesota (2022)
Age Distribution in Mille Lacs County, Minnesota
Citizen Population in Mille Lacs County, Minnesota (2022)
Political Trends & Data
Mille Lacs County, Minnesota, showed a strong conservative leaning in the 2020 U.S. Presidential Election, with the Republican party receiving 67.8% of the vote. However, nearly 30% of the votes went to the Democratic party, indicating a considerable minority that supports progressive policies. The presence of Libertarian and Green party voters, though small at 1.2% and 0.2%, respectively, reflects some diversity in political... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Mille Lacs County, Minnesota, the 2020 U.S. Presidential Election results leaned heavily towards the Republican party with approximately 67.8% of the vote. The Democratic party secured close to 30%, while the Libertarians and Greens captured around 1.2% and 0.2% respectively. This suggests a strong conservative presence in the county, yet the nearly 30% Democratic vote share hints at a significant minority favouring more progressive policies.
67.75% of voters voted for the Republican party in the 2020 Presidential Election
29.98% of voters voted for the Democrat party in the 2020 Presidential Election
1.23% of voters voted for the Livertarian party in the 2020 Presidential Election
0.21% of voters voted for the Green party in the 2020 Presidential Election
0.82% of voters voted for the Other party in the 2020 Presidential Election
School Data
Mille Lacs County, Minnesota has experienced a shift in student-to-teacher ratios, starting at about thirteen students per teacher in 2014 and hitting nearly twenty in 2021, compared to the national average of around fourteen. Such fluctuations can indicate changes in educational resources or population dynamics and might influence the quality of education and area desirability. Investors, real estate agents, and families should pay attention to these trends, as they could impact market... Read more
Student-to-teacher ratio in Mille Lacs County, Minnesota over the last 10 years
Mille Lacs County, Minnesota has seen notable shifts in its student-to-teacher ratio over the last decade, beginning with a low of about thirteen students per teacher in 2014 and peaking at nearly twenty in 2021. The national average is around fourteen students per teacher, so fluctuations like those in Mille Lacs County might suggest changes in educational resources or population dynamics. Potential investors, real estate agents, and families may want to consider these trends as they can impact the quality of education and desirability of the area. Appraisers and insurance agents might also find these metrics indicative of broader community shifts and resource pressures.
