Olmsted County Real Estate and Livability Trends
Olmsted County, Minnesota, has experienced substantial growth in average taxable income, from $69,988.70 in 2013 to $93,726.43 in 2021, reflecting potential for higher property values and a robust economy. Median home values surged from $173,000 in 2015 to $285,600 in 2022, outpacing national trends and signaling strong returns for investors. Increasing state and local income taxes and real... Read more
Olmsted County Market Trends
Olmsted County, Minnesota has seen its median home values surge from $173,000 in 2015 to $285,600 in 2022, outpacing national trends and closely aligning with statewide figures. This robust real estate market could hint at strong returns for investors. Real estate taxes in Olmsted County have also risen sharply, from $3,030.11 in 2012 to $5,255.52 by 2021, which potential homeowners should... Read more
Median Value of Occupied Housing Units in Olmsted County, Minnesota Over the Last 8 Years
Over the last 8 years, Olmsted County, Minnesota has seen its median home values rise significantly, from $173,000 in 2015 to $285,600 in 2022. This growth trajectory not only outpaces the national trend, where values increased from $125,500 to $179,400 over the same period, but it also aligns closely with statewide figures in Minnesota, which went from $186,200 to $286,800. This distinction could potentially indicate a robust local real estate market, likely driven by economic factors unique to the area. Higher growth rates suggest prospective investors and homeowners might find strong returns and value appreciation in Olmsted County compared to broader markets.
Residential Energy Tax Credit Per Tax Return in Olmsted County, MN Over the Last 9 Years
Residential energy tax credits in Olmsted County, Minnesota have shown significant variability over the last nine years. Starting from $355.00 in 2013, there was a noticeable rise to $627.27 by 2017, before a dramatic spike to $4,180.00 in 2018. Following this peak, the average credits stabilized around the $800 to $900 range. Such fluctuations suggest changing local incentives or variations in resident participation rates, impacting investment strategies, property valuations, and energy efficiency upgrades in the area.
Average Real Estate Taxes Per Tax Return in Olmsted County, MN Over the Last 10 Years
Real estate taxes per tax return in Olmsted County, Minnesota have seen substantial increases over the last decade, starting from approximately $3,030.11 in 2012 to reaching around $5,255.52 by 2021. This steady upward trend could influence decisions for potential investors, property developers, and insurance agents assessing the costs associated with holding property in the region, with implications on overall housing affordability and property valuation models. For those looking to move to Olmsted County, this increase in tax burden could be a significant consideration impacting the cost of living.
Percentage of Farm Returns in Olmsted County, MN Over the Last 10 Years
Olmsted County, Minnesota has seen a slow but steady decline in the percentage of farm tax returns over the last decade, dropping from roughly 1.89% in 2012 to about 1.40% in 2021. Farm tax returns, essentially income tax filings from agricultural operations, can act as an indicator of the vibrancy and economic health of the farming sector within a region. This downward trend may suggest a shift in the local economy, less reliance on agriculture, or challenges faced by the farming community. For potential investors, developers, or new residents, this trend might imply that diversifying economic interests could be more robust or that finding development opportunities within agriculture may require more nuanced strategies.
Number of Mortgages by Occupancy Type in Olmsted County, MN Over the Last 5 Years in Olmsted County
Over the past five years, Olmsted County, Minnesota has seen fluctuations in mortgage counts by occupancy type, with a notable decrease in overall volume from 2020 onwards. Principal residences consistently dominate the market, experiencing a peak in 2020 with 12,732 mortgages before declining sharply to 5,889 in 2022. Investment properties saw a less pronounced, yet steady decline, from 720 in 2021 to 383 in 2022. Second residences have maintained relatively low volumes throughout, peaking slightly in 2020 with 98 mortgages. These trends suggest a potential cooling of the housing market or shifts in buyer behavior, which could influence future real estate development, investment strategies, and property valuations. Changes in occupancy type also impact insurance rates, risk assessments, and resource allocation for local agencies.
Economic Outlook
Olmsted County, Minnesota has experienced a substantial increase in average taxable income per tax return, growing from about $69,988.70 in 2013 to approximately $93,726.43 by 2021. This rise suggests potential for higher property values and a robust local economy, appealing to investors and real estate professionals. Concurrently, state and local income taxes per tax return have also surged, nearly doubling between 2017 and 2018, reaching $16,583.79 by 2021, which could signal increased... Read more
Average Taxable Income per Tax Return in Olmsted County, MN over the last 9 years
Over the past nine years, Olmsted County, Minnesota has likely seen a consistent increase in average taxable income per tax return, starting from about $69,988.70 in 2013 and reaching approximately $93,726.43 in 2021. Such a trend suggests a stable economic growth in the area, which may be appealing for investors and real estate professionals considering the potential for higher property values and return on investments. For those moving to or already living in Olmsted County, the rising average income could imply stronger local spending power and robust community development. Appraisers and insurance agents might also find these trends valuable for assessing property values and determining appropriate coverage levels.
Average State and Local Income Taxes Per Tax Return in Olmsted County, MN Over the Last 10 Years
Olmsted County, Minnesota, has seen a significant rise in state and local income taxes per tax return over the past decade, starting at $7,441.78 in 2012 and reaching $16,583.79 by 2021. The most noticeable jump occurred between 2017 and 2018, where the average taxable amount nearly doubled. This trend may indicate a robust local economy and increased earnings, which could be a key consideration for potential investors and property developers. However, those planning to move to or invest in the area should factor in these rising taxation costs.
Average Total Tax Liability Per Tax Return in Olmsted County, MN Over the Last 10 Years
Over the past decade, Olmsted County, Minnesota has seen a steady increase in average total tax liability per tax return, with figures rising from around $11,402.07 in 2012 to approximately $16,059.72 in 2021. This trend could interest potential investors and real estate agents, suggesting increasing economic activity and possibly rising property values. Appraisers and insurance agents might want to take note of these upward trends when assessing property values and potential risks. The substantial jump between 2020 and 2021 might indicate significant economic events or policy changes impacting the region.
Cost of Living in Olmsted County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,774 | $1,593 | $2,404 | $2,666 | $2,399 |
| 1 adult 4 children | $1,774 | $1,301 | $1,888 | $2,666 | $2,511 |
| 2 adults 3 children | $1,774 | $1,301 | $2,061 | $2,666 | $2,104 |
| 1 adult 3 children | $1,774 | $1,062 | $1,545 | $2,666 | $2,281 |
| 2 adults 2 children | $1,248 | $1,065 | $1,717 | $2,368 | $1,606 |
| 1 adult 2 children | $1,248 | $796 | $1,202 | $2,368 | $1,701 |
| 2 adults 1 child | $1,248 | $842 | $1,374 | $1,399 | $1,208 |
| 1 adult 1 child | $1,248 | $544 | $859 | $1,399 | $1,206 |
| 2 adults | $1,004 | $676 | $1,031 | $0 | $788 |
| 1 adult | $864 | $369 | $516 | $0 | $634 |
Safety trends & Data
Olmsted County, Minnesota, has seen varying property crime trends over the past five years. Larceny-theft saw a slight decrease from 831.0 in 2018 to 689.0 in 2022, while burglary cases recently upticked to 78.0 in 2022. Fraud increased noticeably in 2019 and 2020 but dropped afterward. Motor vehicle theft hit a low of 14.0 in 2020 and rose to 29.0 by 2022. Vandalism peaked in 2021 at 108.0 but has since dipped. Understanding these trends can be crucial for assessing neighborhood safety,... Read more
Property Crime Trends in Olmsted County, MN Over the Last 5 Years
Over the past five years, Olmsted County, Minnesota has seen varying trends in property crime. Larceny-Theft remains the leading cause, with a slight decrease from 831.0 in 2018 to 689.0 in 2022, while Burglary cases oscillated but recently saw an uptick reaching 78.0 in 2022. Fraud incidences saw a notable rise in 2019 and 2020 but dropped in the following years. Motor Vehicle Theft fluctuated, hitting a low of 14.0 in 2020 and resurging to 29.0 by 2022. Vandalism has been inconsistent, peaking in 2021 at 108.0 before dipping again. For real estate agents, investors, and residents, understanding these patterns can be crucial for assessing neighborhood safety, property values, and insurance risk.
Demographics
Olmsted County, Minnesota, shows a slightly higher female population compared to males. Educational attainment levels indicate a well-educated community, with a significant portion holding bachelor's or graduate degrees, whereas a minimal fraction has less than a high school education. The age distribution suggests a balanced age range, with notable clusters in the 25-34 and 35-44 age groups, hinting at a working-age population. In terms of racial diversity, the county is predominantly White,... Read more
Race Distribution in Olmsted County, Minnesota (2022)
Educational Attainment in Olmsted County, Minnesota (2022)
Age Distribution in Olmsted County, Minnesota
Citizen Population in Olmsted County, Minnesota (2022)
Political Trends & Data
Olmsted County, Minnesota, seems to lean slightly Democratic according to the 2020 U.S. Presidential Election results, with Democrats potentially securing around 54% of the vote compared to Republicans' 43%. Minor parties like Libertarians and Greens captured a modest share, indicating some political diversity but a clear Democratic preference. This demographic insight suggests that the community might appreciate policies that resonate with Democratic values, possibly influencing local... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Olmsted County, Minnesota appears to lean slightly Democratic based on the 2020 U.S. Presidential Election results, where Democrats captured possibly around 54% of the vote compared to Republicans’ 43%. Minor parties, including Libertarians, Greens, and others, collectively garnered a modest portion of the electorate, which suggests a limited but present interest in alternative political voices. These insights could indicate a trend of moderate political diversity, with a predominant tilt towards Democratic preferences among voters in this region.
43.43% of voters voted for the Republican party in the 2020 Presidential Election
54.16% of voters voted for the Democrat party in the 2020 Presidential Election
1.18% 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
0.94% of voters voted for the Other party in the 2020 Presidential Election
School Data
Olmsted County, Minnesota, has seen significant swings in its student-to-teacher ratio over the past decade, which could influence local housing markets and school funding. With ratios ranging from 13.6 in 2018 to a high of 59.63 in 2021, these changes suggest potential classroom overcrowding and varying educational outcomes that might affect community appeal. Investors, educators, and families should consider these metrics when making decisions about property investments, as they could impact... Read more
Student-to-teacher ratio in Olmsted County, Minnesota over the last 10 years
Olmsted County, Minnesota has shown considerable fluctuations in its student-to-teacher ratio over the past decade. While the national average sits at 14 students per teacher, Olmsted County's ratio has varied dramatically from 13.6 in 2018, notably better than the national average, to a high of 59.63 in 2021, which could indicate significant classroom overcrowding. These changes may impact decisions for investors, educators, and families considering the area, influencing everything from housing demand to school funding and educational outcomes. Real estate agents and insurance agents might find these trends useful for advising clients on potential property values and community growth.
