Pennington County Real Estate and Livability Trends
Pennington County, Minnesota's real estate market reveals key economic trends with average taxable income rising from $53,177.25 in 2013 to $69,335.80 in 2021, possibly indicating enhanced economic stability. Median home values increased from $115,200 in 2015 to $173,800 in 2022, suggesting growing investment opportunities. Property crime trends are promising, with larceny-theft and fraud cases... Read more
Pennington County Market Trends
Pennington County, Minnesota has experienced a notable increase in median home values from $115,200 in 2015 to $173,800 in 2022, which, while still below the state median of Minnesota, indicates growing investment opportunities at a relatively accessible cost. Real estate taxes in the county have surged post-2017, peaking at $3,620.00 in 2020, hinting at either rising property values or increased... Read more
Median Value of Occupied Housing Units in Pennington County, Minnesota Over the Last 8 Years
Pennington County, Minnesota has experienced a steady rise in median home values over the past eight years, increasing from $115,200 in 2015 to $173,800 in 2022. This is notable when compared to the national median, which started at $125,500 in 2015 and reached $179,400 by 2022. Despite being consistently lower than the state of Minnesota's median values, which surged from $186,200 in 2015 to $286,800 in 2022, Pennington County's growth rate may suggest burgeoning opportunities for investment and development in the area at a more accessible cost.
Residential Energy Tax Credit Per Tax Return in Pennington County, MN Over the Last 8 Years
Pennington County, Minnesota has seen fluctuating average residential energy tax credits over the past eight years, peaking at $500.00 per tax return in 2014 and reaching a low of $216.67 in 2017. Recent years suggest a potential upward trend, with values bouncing back to around $328.57 in 2021. This data may indicate variability in energy investments and efficiency improvements, which could be relevant for investors and property owners considering energy-saving initiatives. For real estate and insurance agents, understanding these trends could help in assessing property values and potential savings for clients.
Average Real Estate Taxes Per Tax Return in Pennington County, MN Over the Last 10 Years
Over the last decade, Pennington County, Minnesota has seen a noticeable rise in average real estate taxes per tax return, with significant jumps post-2017. In 2012, the average was $2,472.87, remaining relatively stable until a dip in 2015 to $2,361.79. However, starting from 2017, there were marked increases, peaking at $3,620.00 in 2020 before a slight decrease in 2021 to $3,304.55. This upward trend could imply rising property values or increasing tax rates, making it important for potential investors, property developers, and residents to factor in these tax levels when making decisions.
Percentage of Farm Returns in Pennington County, MN Over the Last 10 Years
In Pennington County, Minnesota, the percentage of farm tax returns over the last decade has seen fluctuations with a general downward trend. Starting at 7.83% in 2012, it dipped to 6.36% by 2020, showing some variability in between. This trend is crucial for those looking to invest or move to the area, as it suggests potential shifts in the local agricultural economy. Property developers and new residents might interpret this data as indicative of changing land use or economic activities in the county.
Number of Mortgages by Occupancy Type in Pennington County, MN Over the Last 5 Years in Pennington County
Pennington County, Minnesota has seen varying numbers of mortgages across different occupancy types over the past five years, with principal residences consistently dominating the market. For instance, principal residence mortgages spiked notably in 2020 at 598 but saw a dip to 330 by 2022. Meanwhile, investment properties and second residences have maintained relatively lower and stable counts, with small changes year over year. Shifts in occupancy types may indicate evolving market demands and can significantly impact local real estate values, appraisals, and investment strategies. For individuals looking to invest or move, understanding these trends could aid in decision-making, as a higher number of principal residence mortgages might reflect a stable living environment, whereas the consistent but lower investment property figures could suggest a less competitive market for income properties.
Economic Outlook
Pennington County, Minnesota's real estate market reveals some interesting economic trends. Average taxable income per tax return has notably risen from $53,177.25 in 2013 to $69,335.80 in 2021, suggesting enhanced economic stability and potential appeal for investors and newcomers. The county also experienced a significant increase in state and local income taxes, peaking at $14,341.67 in 2021, which could reflect local economic shifts or tax policy adjustments. Additionally, total tax... Read more
Average Taxable Income per Tax Return in Pennington County, MN over the last 9 years
Pennington County, Minnesota has seen a notable increase in average taxable income per tax return over the past nine years. In 2013, this figure was approximately $53,177.25, while by 2021 it had risen to around $69,335.80. This upward trend, particularly the sharp rise in 2021, may indicate growing economic stability and opportunities in the area, which could be attractive for investors, property developers, and new residents.
Average State and Local Income Taxes Per Tax Return in Pennington County, MN Over the Last 10 Years
Pennington County, Minnesota has seen a considerable fluctuation in average state and local income taxes per tax return over the last decade. Taxes showed a steady upward trend, jumping from around $7,481.48 in 2012 to an eye-catching peak of $14,341.67 in 2021. Notable spikes occurred in 2014, 2018, and especially from 2019 to 2021. This hints at potential economic changes or adjustments in tax policies impacting residents. For those eyeing investment or relocation, understanding these trends may be crucial for financial planning and property value projections.
Average Total Tax Liability Per Tax Return in Pennington County, MN Over the Last 10 Years
Over the last decade, Pennington County, Minnesota has seen fluctuations in average total tax liability per return, starting at $7,636.02 in 2012 and peaking at $9,759.59 in 2021. Despite some dips, like the substantial drop to $7,205.08 in 2016, the general trend indicates a gradual increase. The notable surge in 2021 could signal a shift worth examining for potential investors, property developers, and local residents curious about economic conditions. Real estate agents and appraisers may also find these figures relevant when evaluating local markets.
Cost of Living in Pennington County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,208 | $1,375 | $1,802 | $1,445 | $1,249 |
| 1 adult 4 children | $1,208 | $1,123 | $1,404 | $1,445 | $1,453 |
| 2 adults 3 children | $1,208 | $1,124 | $1,551 | $1,445 | $1,034 |
| 1 adult 3 children | $1,208 | $917 | $1,153 | $1,445 | $1,214 |
| 2 adults 2 children | $940 | $920 | $1,299 | $1,256 | $869 |
| 1 adult 2 children | $940 | $687 | $901 | $1,256 | $901 |
| 2 adults 1 child | $940 | $727 | $1,048 | $641 | $778 |
| 1 adult 1 child | $940 | $470 | $650 | $641 | $664 |
| 2 adults | $714 | $584 | $796 | $0 | $600 |
| 1 adult | $629 | $319 | $398 | $0 | $508 |
Safety trends & Data
Property crime trends in Pennington County, Minnesota may be piquing the interest of real estate investors and potential residents. Notably, larceny-theft has decreased from 65.0 cases in 2018 to 45.0 in 2022, and fraud cases saw a sharp decline from 58.0 in 2019 to 11.0 by 2022. Motor vehicle thefts and vandalism have remained low but stable, reflecting steady security measures. These trends could signal a safer environment, potentially enhancing the county’s appeal for real estate... Read more
Property Crime Trends in Pennington County, MN Over the Last 5 Years
Property crime trends in Pennington County, Minnesota over the last five years reveal some interesting insights. Larceny-theft is notably high but has seen a decreasing trend from 65.0 in 2018 to 45.0 in 2022. Fraud cases initially spiked at 58.0 in 2019 but dropped significantly to 11.0 by 2022, suggesting potential improvements in fraud prevention measures. Motor vehicle thefts and vandalism remain relatively low but stable, indicating a consistent need for securing personal properties and public spaces. The data suggests a slow but steady dip in overall property crime, making the county increasingly appealing for investors, real estate agents, and potential residents looking for a safer community.
Demographics
Pennington County, Minnesota, shows a balanced gender split with almost equal numbers of males and females. The area reflects a strong educational foundation, with the majority possessing at least a high school diploma and substantial numbers holding associate's and bachelor's degrees. The age distribution hints at a slightly older population, with significant clusters in the 35 to 64 age range. Racially, the community appears to be predominantly White, while modest diversity exists with small... Read more
Race Distribution in Pennington County, Minnesota (2022)
Educational Attainment in Pennington County, Minnesota (2022)
Age Distribution in Pennington County, Minnesota
Citizen Population in Pennington County, Minnesota (2022)
Political Trends & Data
Pennington County, Minnesota shows a strong conservative leaning with a significantly higher share of votes for the Republican party in the 2020 Presidential Election. While Democrats trail, they still command a notable share, hinting at some political diversity. Votes for the Libertarian, Green, and other parties appear minimal, likely reflecting limited local... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Pennington County, Minnesota, the Republican vote share in the 2020 Presidential Election appears to be significantly higher compared to other parties, potentially reflecting a strong conservative leaning. The Democrats, while trailing behind, still captured a notable portion of the electorate, which might suggest some level of political diversity. Libertarian and Green party votes, as well as those for other parties, seem minimal, indicating these groups likely have limited influence in the local political landscape.
62.28% of voters voted for the Republican party in the 2020 Presidential Election
35.29% of voters voted for the Democrat party in the 2020 Presidential Election
1.42% of voters voted for the Livertarian party in the 2020 Presidential Election
0.16% 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
Pennington County, Minnesota has experienced shifts in its student-to-teacher ratio, reaching 15 in 2022 and continuing at this level in 2023. Historically lower than the national average of 14 students per teacher, it has now exceeded this mark. Families, real estate investors, and agents might find this trend notable as it could influence classroom environments, educational outcomes, and even property values in the... Read more
Student-to-teacher ratio in Pennington County, Minnesota over the last 10 years
Over the last decade, Pennington County, Minnesota has seen fluctuations in its student-to-teacher ratio, peaking at 15 in 2022 and currently resting at approximately 15 in 2023. While the county's ratio was well below the national average of 14 students per teacher for many years, recent trends indicate it has now surpassed this benchmark. For families considering a move, investors evaluating educational infrastructure, and real estate agents emphasizing school quality, these changes could signal shifting dynamics in classroom environments, potentially affecting educational outcomes and property values in the area.
