Otter Tail County Real Estate and Livability Trends
Otter Tail County has seen robust growth in both average taxable income and median home values, suggesting broader economic resilience. Yet, rising state and local income taxes and real estate taxes may impact both living costs and investment appeal. Notably, property crime rates have sharply decreased, enhancing the county's attractiveness for potential investors and homebuyers. Shifts in... Read more
Otter Tail County Market Trends
In Otter Tail County, Minnesota, median home values have steadily climbed from $164,900 in 2015 to $234,200 in 2022, showing slower growth compared to state and national averages. Real estate taxes have also seen a consistent rise, from about $2434.51 in 2012 to $4448.89 in 2021, likely impacting property ownership costs. Notably, 2018 experienced a significant spike in average residential energy... Read more
Median Value of Occupied Housing Units in Otter Tail County, Minnesota Over the Last 8 Years
In Otter Tail County, Minnesota, median home values over the last eight years have shown a consistent upward trend, moving from $164,900 in 2015 to $234,200 in 2022. When compared to statewide and national figures, the county's growth track is somewhat more tempered. Minnesota's median value surged from $186,200 to $286,800 in the same period, while national values increased from $125,500 to $179,400. For potential investors, current residents, or those planning to build property, Otter Tail County's steady increase in home values signals a stable market, albeit growing at a slower pace than the broader state trends.
Residential Energy Tax Credit Per Tax Return in Otter Tail County, MN Over the Last 9 Years
In Otter Tail County, Minnesota, there's been notable fluctuation in the average residential energy tax credit per tax return over the past nine years. While the average peaked dramatically at $2628.57 in 2018, other years show a more modest range typically between $477.08 and $808.82. This spike might indicate a temporary, yet significant, investment in energy-saving initiatives during 2018. For those looking to invest or build property here, it could be prudent to explore what factors led to this peak and whether similar incentives might resurface. Real estate agents and appraisers could find these trends useful for understanding market attractiveness and potential property value impacts due to energy efficiency improvements.
Average Real Estate Taxes Per Tax Return in Otter Tail County, MN Over the Last 10 Years
Real estate taxes in Otter Tail County, Minnesota have generally trended upwards over the past decade, rising from approximately $2434.51 in 2012 to about $4448.89 in 2021 per tax return. The most notable increases occurred from 2016 to 2018, potentially reflecting broader economic drivers or local policy changes. This steady climb suggests that property investment and ownership costs are rising, which could influence decisions for buyers, appraisers, and real estate professionals considering the area.
Percentage of Farm Returns in Otter Tail County, MN Over the Last 10 Years
Otter Tail County, Minnesota has seen a gradual decline in farm tax returns over the past decade, dropping from approximately 8.50% in 2012 to around 7.08% in 2021. Farm tax returns here—tax filings that include income from farming—suggest subtle but consistent shifts in agricultural profitability or farm presence in the area. For those considering investment, relocation, or property development in Otter Tail County, the trend could indicate changes in the agricultural sector's financial health or a possible diversification of the local economy away from traditional farming operations.
Number of Mortgages by Occupancy Type in Otter Tail County, MN Over the Last 5 Years in Otter Tail County
Otter Tail County, Minnesota has seen fluctuations in mortgage counts across various occupancy types over the past five years. Principal residences dominate the mortgage landscape, peaking in 2020 with 3,584 mortgages before a significant drop in 2022 to 1,761. Investment properties and second residences have varied more subtly, with a noticeable increase in investment property mortgages from 2018 to 2021 before a slight dip in 2022. For investors, understanding these trends can reveal which type of property is in demand, helping to target investments strategically. For insurers and appraisers, shifts in occupancy types inform risk assessments and valuation metrics. Real estate agents and those looking to move to or build in the area might find the decreasing trend in principal residence mortgages and the reduced interest post-2020 indicative of changing local market dynamics.
Economic Outlook
Otter Tail County, Minnesota, has experienced a steady rise in average taxable income per tax return from $51,144.96 in 2013 to $71,461.64 in 2021, possibly indicating broader economic growth. Concurrently, average state and local income taxes have also increased, from about $6,410.40 in 2012 to $15,397.84 in 2021, which could reflect increased incomes or tax policy changes. Likewise, the average total tax liability has grown from $7,465.04 in 2012 to $10,499.62 in 2021. These trends suggest a... Read more
Average Taxable Income per Tax Return in Otter Tail County, MN over the last 9 years
Otter Tail County, Minnesota, has seen a fairly steady increase in average taxable income per tax return over the past nine years. Starting at $51,144.96 in 2013, the average income rose to $71,461.64 by 2021. This continual rise, particularly notable with jumps in 2015 and most recently from 2019 to 2021, reflects potential economic growth and increased earning potential in the area. Such trends may appeal to investors, homebuyers, and real estate professionals monitoring for promising opportunities.
Average State and Local Income Taxes Per Tax Return in Otter Tail County, MN Over the Last 10 Years
Over the past decade, Otter Tail County in Minnesota has seen a notable increase in average state and local income taxes per tax return. Starting at approximately $6,410.40 in 2012, the figures have generally trended upwards, peaking at $15,397.84 in 2021. These rises could suggest a variety of underlying economic shifts, such as increased incomes, changes in tax policies, or shifts in the local socio-economic landscape. For potential investors or residents, this trend might imply a strengthening economy but also a heavier tax burden that should be factored into financial planning.
Average Total Tax Liability Per Tax Return in Otter Tail County, MN Over the Last 10 Years
Over the past decade, Otter Tail County in Minnesota has witnessed a notable upward trend in average total tax liability per tax return, climbing from $7,465.04 in 2012 to $10,499.62 in 2021. This gradual increase reflects broader economic changes and could signal potential for higher public investment or changes in demographic and income patterns. For investors, property developers, and real estate agents, understanding this growth trend may provide valuable insights into the area's economic vitality and could influence future market dynamics.
Cost of Living in Otter Tail County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,151 | $1,375 | $1,738 | $1,445 | $1,233 |
| 1 adult 4 children | $1,151 | $1,123 | $1,353 | $1,445 | $1,441 |
| 2 adults 3 children | $1,151 | $1,124 | $1,496 | $1,445 | $1,020 |
| 1 adult 3 children | $1,151 | $917 | $1,111 | $1,445 | $1,204 |
| 2 adults 2 children | $863 | $920 | $1,254 | $1,256 | $849 |
| 1 adult 2 children | $863 | $687 | $869 | $1,256 | $878 |
| 2 adults 1 child | $863 | $727 | $1,012 | $641 | $759 |
| 1 adult 1 child | $863 | $470 | $627 | $641 | $646 |
| 2 adults | $656 | $584 | $770 | $0 | $590 |
| 1 adult | $651 | $319 | $385 | $0 | $531 |
Safety trends & Data
Otter Tail County, Minnesota has seen significant reductions in property crimes over the past five years, which might indicate improvements in local law enforcement or community efforts. Burglary and larceny-theft rates have particularly plummeted, with larceny-theft decreasing from 172.00 incidents in 2019 to just 50.00 in 2022. Motor vehicle thefts remained low and stable, while fraud incidents also saw a notable drop from 43.00 in 2018 to 15.00 in 2022. This trend could potentially make the... Read more
Property Crime Trends in Otter Tail County, MN Over the Last 5 Years
Over the last five years, Otter Tail County, Minnesota has seen fluctuations in property crime rates. Burglary instances generally trended downward from 2018 to 2022, dropping from 32.00 to 12.00. Larceny-theft remained the most common crime but showed a significant reduction, decreasing from 172.00 incidents in 2019 to just 50.00 in 2022. Motor vehicle thefts were relatively low but stable. Fraud incidents also saw a decrease, from 43.00 in 2018 to 15.00 in 2022. The combined reduction in these crime rates suggests potential improvements in local law enforcement or community initiatives, making the county possibly more attractive for investments or relocation.
Demographics
Otter Tail County, Minnesota, shows a fairly balanced adult population by gender, with a slight male majority. The county's educational attainment largely centers around high school graduates and individuals with some college experience. There's noticeable representation in higher education, with substantial numbers holding associate to graduate degrees. The population skews older, especially in the 55-64 year range, possibly indicating a niche for senior services. Racially, the area is... Read more
Race Distribution in Otter Tail County, Minnesota (2022)
Educational Attainment in Otter Tail County, Minnesota (2022)
Age Distribution in Otter Tail County, Minnesota
Citizen Population in Otter Tail County, Minnesota (2022)
Political Trends & Data
With about 65% of votes going to the Republican candidate in the 2020 U.S. Presidential Election, Otter Tail County in Minnesota shows a significant lean towards conservative values. The Democratic candidate received roughly 33%, reflecting a noticeable but less dominant presence. The limited support for minor parties hints at a strong preference for the two major political parties among local... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Otter Tail County in Minnesota appears to lean significantly Republican, with around 65% of the vote going to the Republican candidate in the 2020 U.S. Presidential Election. The Democratic candidate received approximately 33%, which suggests a strong but less dominant presence. Minor parties like the Libertarians and Greens seem to have garnered very limited support, potentially indicating a lesser influence of third-party options among the electorate in this county.
65.39% of voters voted for the Republican party in the 2020 Presidential Election
32.85% of voters voted for the Democrat party in the 2020 Presidential Election
0.71% 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
0.85% of voters voted for the Other party in the 2020 Presidential Election
School Data
Otter Tail County, Minnesota has seen notable fluctuations in student-to-teacher ratios over the past decade. The ratio spiked to nearly 17 students per teacher in 2020, much higher than the national average of 14. Recent years have shown a dip, with current ratios stabilizing around 13 to 14. These shifts could influence classroom dynamics and educational quality, potentially affecting local property values, making it key for real estate professionals to monitor these trends... Read more
Student-to-teacher ratio in Otter Tail County, Minnesota over the last 10 years
Over the last decade, Otter Tail County, Minnesota has experienced fluctuations in student-to-teacher ratios. Notably, the ratio peaked at nearly seventeen students per teacher in 2020, significantly higher than the current national average of fourteen. Subsequent years show a dip, with recent ratios stabilizing around thirteen to fourteen students per teacher. These variations could impact classroom dynamics, potentially influencing both educational quality and property values, making it critical for professionals in real estate, education, and related fields to consider these trends in their planning and advising.
