Polk County Real Estate and Livability Trends
Polk County, Minnesota has experienced significant shifts in its real estate landscape, with median home values climbing from $136,700 in 2015 to $204,600 by 2022. However, these values still trail the statewide average of $286,800, indicating potential room for growth. Real estate taxes per return jumped from $2,694.00 in 2012 to $4,063.46 in 2021, hinting at increasing property values or shifts... Read more
Polk County Market Trends
Polk County, Minnesota has seen its median home values grow from $136,700 in 2015 to $204,600 in 2022, though still trailing the statewide average of $286,800. Residential energy tax credits have fluctuated notably, peaking at $457.89 in 2014, potentially indicating variable interest in energy-efficient upgrades. Real estate taxes per tax return have risen sharply, moving from $2,694.00 in 2012... Read more
Median Value of Occupied Housing Units in Polk County, Minnesota Over the Last 8 Years
Over the past eight years, median home values in Polk County, Minnesota have experienced consistent growth, rising from $136,700 in 2015 to $204,600 in 2022. While these increases may look significant, they still lag behind the state average, with Minnesota's median home value reaching $286,800 in 2022. Comparatively, Polk County also remains above the national average, which was $179,400 in the same year. For investors and potential homeowners, this could imply that Polk County offers more affordable opportunities than the state average, while still presenting better-than-average value appreciation when compared to national figures.
Residential Energy Tax Credit Per Tax Return in Polk County, MN Over the Last 8 Years
The average residential energy tax credit per tax return in Polk County, Minnesota has exhibited notable fluctuations over the past eight years. A significant increase was seen in 2014 with the value reaching $457.89, the highest in this period, while the lowest was recorded in 2019 at $247.37. These oscillations might suggest a variable interest or eligibility in energy-efficient home improvements among residents. For potential investors or those looking to build property, understanding these trends could be useful in gauging the community's engagement with energy-saving measures. For real estate agents and appraisers, this data might hint at the potential for value addition through energy efficiency upgrades.
Average Real Estate Taxes Per Tax Return in Polk County, MN Over the Last 10 Years
Over the past decade, real estate taxes per tax return in Polk County, Minnesota have shown a notable upward trend, increasing from around $2,694.00 in 2012 to approximately $4,063.46 in 2021. This consistent rise suggests a possible growth in property values or changes in tax policies affecting homeowners. Interestingly, the sharp jumps in particular years such as 2017 and 2018 indicate periods of significant shifts, potentially driven by regional development or economic factors. For investors, appraisers, and real estate agents, this trend may signal a growing demand and an evolving market landscape in Polk County.
Percentage of Farm Returns in Polk County, MN Over the Last 10 Years
In Polk County, Minnesota, the percentage of farm tax returns has fluctuated slightly over the past decade, generally hovering around the 8.5% to 8.9% mark. Notable dips were observed in 2019 and 2020, each dropping to around 8.2% and 8.1%, potentially signaling downward trends or economic shifts affecting local agriculture. Farm tax returns indicate the proportion of taxpayers deriving a significant portion of their income from farming, acting as an economic health barometer for the agricultural sector. This information guides investors, potential residents, and developers in assessing the stability and viability of agricultural investments in the region.
Number of Mortgages by Occupancy Type in Polk County, MN Over the Last 5 Years in Polk County
In Polk County, Minnesota, over the past five years, there's a visible increase in the number of mortgages for principal residences, peaking in 2021. Investment properties and second residences saw minor fluctuations but remained fairly steady. For investors and developers, understanding shifts in occupancy types can influence market strategies, as a surge in primary residence mortgages often signifies robust local economic conditions. Appraisers and insurance agents might consider these trends for risk assessments and property valuations since a larger principal residence share can indicate stability compared to higher ratios of investment properties. Real estate agents and those looking to move can also gauge market demand and potential profitability based on these occupancy dynamics.
Economic Outlook
Over the last nine years, Polk County, Minnesota has seen a steady rise in average taxable income per tax return, climbing from about $54,530.26 in 2013 to $70,400.43 by 2021. Meanwhile, average state and local income taxes surged from $6,852.60 in 2012 to $10,694.83 by 2021, with noticeable spikes around 2018 and 2019. Total tax liability per tax return also reflected these changes, reaching a notable high of $9,749.78 in 2021. These trends suggest a growing local economy, drawing the... Read more
Average Taxable Income per Tax Return in Polk County, MN over the last 9 years
Over the last nine years, Polk County, Minnesota has seen a steady increase in average taxable income per tax return. Starting at approximately $54,530.26 in 2013, it has risen to about $70,400.43 by 2021. This upward trend could signal a growing local economy, which might attract potential investors, prospective homeowners, and real estate agents. Individuals in appraising, insurance, and property development industries may want to take note of this growth when evaluating Polk County's market potential.
Average State and Local Income Taxes Per Tax Return in Polk County, MN Over the Last 10 Years
Over the past decade, average state and local income taxes per tax return in Polk County, Minnesota have experienced significant fluctuations. Starting at $6,852.60 in 2012, the figure surged to $10,694.83 by 2021, with noticeable spikes in 2018 and 2019 where the values hovered around $9,970.67 and $9,895.71 respectively. This upward trend may hint at an increasing tax burden or rising incomes, crucial factors for investors and potential residents to consider.
Average Total Tax Liability Per Tax Return in Polk County, MN Over the Last 10 Years
Over the past decade, Polk County, Minnesota, has seen fluctuations in its average total tax liability per tax return, hovering around the $8,000 mark for most years, but significant upticks stand out. Notably, 2017 marked a jump to $8,466.49, and the most dramatic increase was in 2021, reaching $9,749.78. This trend is particularly relevant for potential investors, appraisers, and real estate stakeholders, reflecting both economic health and potential tax implications for new residents and businesses.
Cost of Living in Polk County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,106 | $1,375 | $1,813 | $1,759 | $1,386 |
| 1 adult 4 children | $1,106 | $1,123 | $1,420 | $1,759 | $1,613 |
| 2 adults 3 children | $1,106 | $1,124 | $1,556 | $1,759 | $1,161 |
| 1 adult 3 children | $1,106 | $917 | $1,163 | $1,759 | $1,335 |
| 2 adults 2 children | $778 | $920 | $1,298 | $1,527 | $909 |
| 1 adult 2 children | $778 | $687 | $906 | $1,527 | $959 |
| 2 adults 1 child | $778 | $727 | $1,041 | $774 | $773 |
| 1 adult 1 child | $778 | $470 | $649 | $774 | $685 |
| 2 adults | $614 | $584 | $784 | $0 | $596 |
| 1 adult | $597 | $319 | $392 | $0 | $506 |
Safety trends & Data
Polk County, Minnesota's property crime trends have shifted notably over the past five years. Larceny-theft incidents dropped dramatically from 74.00 in 2018 to 15.00 in 2022, while fraud incidents peaked at 24.00 in 2020 before decreasing. Fluctuations in burglary and vandalism rates suggest the need for continuous security measures. For investors and residents, these patterns provide a nuanced understanding of the area's safety... Read more
Property Crime Trends in Polk County, MN Over the Last 5 Years
Polk County, Minnesota has seen fluctuations in property crime trends over the last five years, with notable decreases in larceny-theft, dropping from 74.00 incidents in 2018 to just 15.00 in 2022. Conversely, fraud rates have increased, peaking at 24.00 incidents in 2020 before dropping again. Burglary and vandalism rates have also varied, highlighting the need for ongoing surveillance and security measures. For potential investors and residents, these trends offer valuable insights into the area's safety dynamics.
Demographics
Polk County, Minnesota's demographic makeup reveals a roughly equal split between male and female adults and a diverse range of educational attainments, with a notable presence of individuals holding high school diplomas and some college experience. The age distribution skews towards middle-aged adults, particularly those between 25 to 64 years. Racially, the population is predominantly White, with smaller communities of Black or African American, American Indian, and Asian residents. These... Read more
Race Distribution in Polk County, Minnesota (2022)
Educational Attainment in Polk County, Minnesota (2022)
Age Distribution in Polk County, Minnesota
Citizen Population in Polk County, Minnesota (2022)
Political Trends & Data
Polk County, Minnesota, appears to lean heavily Republican, with the party possibly capturing around 63% of the vote in the 2020 U.S. Presidential Election. Democrats may have secured close to 35%, suggesting a notable yet smaller demographic. The presence of minor parties like the Libertarians and Greens seems negligible, contributing around 0.8% and 0.2%, respectively. This voting pattern might mirror larger regional political tendencies and demographic... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Polk County, Minnesota, voting patterns from the 2020 U.S. Presidential Election suggest a strong Republican presence, with Republicans potentially receiving around 63% of the vote. Democrats trailed with close to 35%, indicating a significant but smaller base. Minor parties like the Libertarians and Greens accounted for about 0.8% and 0.2% respectively, suggesting minimal impact on the overall outcome. This distribution could reflect broader voting trends and demographic leanings within the county.
63.26% of voters voted for the Republican party in the 2020 Presidential Election
34.88% of voters voted for the Democrat party in the 2020 Presidential Election
0.79% of voters voted for the Livertarian party in the 2020 Presidential Election
0.19% of voters voted for the Green party in the 2020 Presidential Election
0.88% of voters voted for the Other party in the 2020 Presidential Election
School Data
Polk County, Minnesota's student-to-teacher ratio peaked at 32 students per teacher in 2020 before dropping to around 16 by 2023. This fluctuation may influence perceptions of educational quality, impacting real estate market demand as families and investors prioritize areas with more favorable ratios. Appraisers, real estate agents, insurance agents, and developers can utilize this information to better assess community needs and property values, potentially driving market trends in regions... Read more
Student-to-teacher ratio in Polk County, Minnesota over the last 10 years
Polk County, Minnesota has seen fluctuating student-to-teacher ratios over the last decade, peaking at 32 students per teacher in 2020 and dipping back to around 16 by 2023. This variation significantly impacts those analyzing educational quality, as a higher ratio often means larger class sizes and potentially less individual attention for students. Investors and families considering relocation might prioritize areas with lower ratios, which are closer to the national average of 14 students per teacher. For appraisors and real estate agents, this could drive demand in areas with optimal ratios, affecting property values and market trends. Insurance agents and developers might also consider these ratios when assessing community needs and risks. Understanding such trends can thus inform better decision-making for all stakeholders.
