Redwood County Real Estate and Livability Trends
Redwood County, Minnesota has seen its median home values surge from $92,600 in 2015 to $138,700 in 2022, pointing to accessible yet appreciating housing, more appealing to potential investors. Real estate taxes have climbed from under $2,000 in 2012 to above $3,100 in 2021, possibly driven by shifts in property valuations. Meanwhile, the number of principal residence mortgages peaked at 659 in... Read more
Redwood County Market Trends
Redwood County, Minnesota's median home values have surged from $92,600 in 2015 to $138,700 in 2022, marking a notable growth trajectory compared to state and national metrics. This hints at more accessible housing while also reflecting upward trends, making the county enticing for potential investors. Energy tax credits have varied, with peaks in 2014 and 2015, suggesting opportunities for... Read more
Median Value of Occupied Housing Units in Redwood County, Minnesota Over the Last 8 Years
Redwood County, Minnesota has shown a consistent rise in median home values over the past eight years, spiking from $92,600 in 2015 to $138,700 in 2022. This local growth pattern stands in stark contrast to the state and national levels, with state values starting at $186,200 in 2015 and growing to $286,800 in 2022, while national values went from $125,500 to $179,400 in the same period. The data could imply Redwood County may offer more attainable housing options while still trending upward, hinting at potential investment opportunities or affordable living standards compared to broader state and national markets.
Residential Energy Tax Credit Per Tax Return in Redwood County, MN Over the Last 8 Years
Over the last eight years, Residential Energy Tax Credits in Redwood County, Minnesota have fluctuated significantly. Notable spikes occurred in 2014 and 2015, reaching $805.88 and $556.25 respectively, indicative of potential incentives or high adoption rates for energy-efficient upgrades during those years. The trend shows a dip around 2017 to $225.00 but generally stabilizes in recent years, hovering around the $350.00 to $500.00 range. This volatility presents opportunities for investors and property developers looking to capitalize on energy efficiency programs, while also providing useful insights for real estate agents and insurance adjusters assessing property valuations and potential energy savings.
Average Real Estate Taxes Per Tax Return in Redwood County, MN Over the Last 10 Years
Over the last decade, Redwood County, Minnesota, has seen a notable increase in average real estate taxes per tax return, rising from just under $2,000 in 2012 to over $3,100 in 2021. The most significant hikes occurred between 2016 and 2019, suggesting potential changes in local taxation policies or shifts in property valuations. This upward trend might be relevant for those considering property investments, as higher taxes could impact overall returns. It's also useful for insurance agents and appraisers, as increased taxes may reflect growing property values, which could influence insurance needs and appraisal values.
Percentage of Farm Returns in Redwood County, MN Over the Last 10 Years
Redwood County, Minnesota has generally seen stable percentages of farm tax returns over the last decade, oscillating around 14%. Farm tax returns represent the filings made by agricultural entities, crucial for understanding the economic health and investment potential of the farming sector. Notably, a slight dip occurred in 2019 when the percentage fell to approximately 13.31%, but it has since rebounded to around 13.80% in 2021. These figures can help potential investors gauge the consistency and attractiveness of the local agricultural economy, suggesting a relatively stable sector that forms a backbone of the county's economic activity.
Number of Mortgages by Occupancy Type in Redwood County, MN Over the Last 5 Years in Redwood County
Redwood County, Minnesota has seen varying trends in mortgage counts by occupancy type over the past five years. Principal residences dominate the mortgage landscape, with a peak in 2020 at 659 before dropping to 397 in 2022. Investment properties and second residences have remained relatively stable but much lower in number, suggesting limited growth in these sectors. For investors, understanding the demand for different property types can offer insights into rental market potentials or resale opportunities. Shifts in principal residence mortgages are particularly relevant for appraisers and insurance agents assessing market stability and risk factors. Real estate agents and developers should note the significant divergence in mortgage counts to align their strategies with current market dynamics.
Economic Outlook
Redwood County, Minnesota has experienced a generally increasing trend in average taxable income per tax return, climbing from $54,617.40 in 2013 to $70,145.82 by 2021, with a notable jump from 2019 to 2020. This trend, coupled with increasing average state and local income taxes—rising to approximately $12,703.85 in 2021—could suggest economic growth that may attract investors and new residents. However, the fluctuating patterns in average total tax liability, which peaked at $9,243.26 in... Read more
Average Taxable Income per Tax Return in Redwood County, MN over the last 9 years
Over the past nine years, Redwood County, Minnesota has seen a fluctuating yet generally increasing trend in average taxable income per tax return. Starting at $54,617.40 in 2013, it reached $70,145.82 by 2021, marking a significant rise, especially notable in the jump from 2019 to 2020. These trends might be indicative of economic growth and potentially attract new investors or residents seeking a financially vibrant community. However, the variability also suggests careful consideration and analysis for those involved in appraisals, insurance, and real estate developments.
Average State and Local Income Taxes Per Tax Return in Redwood County, MN Over the Last 10 Years
Over the last decade, Redwood County, Minnesota, has seen its average state and local income taxes per tax return fluctuate significantly, ultimately showing a noticeable upward trend. Starting from around $8,028.48 in 2012, there were some dips and rises until a more consistent increase began after 2017. By 2021, this average reached approximately $12,703.85, reflecting a possible broader trend of increasing tax rates or rising incomes. This might be of particular interest to potential investors and homeowners, as it may indicate economic growth or policy changes impacting the region's financial landscape.
Average Total Tax Liability Per Tax Return in Redwood County, MN Over the Last 10 Years
Over the past decade, Redwood County, Minnesota has experienced fluctuations in the average total tax liability per tax return. After peaking at $9,243.26 in 2012, rates generally declined, hitting a low of $7,106.94 in 2019. Since then, there's been a notable increase, with the 2021 figure reaching $9,858.66. These patterns can impact investment decisions, property values, and the overall financial landscape for residents and businesses considering Redwood County as a viable location.
Cost of Living in Redwood County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,174 | $1,444 | $1,792 | $1,445 | $1,314 |
| 1 adult 4 children | $1,174 | $1,179 | $1,396 | $1,445 | $1,523 |
| 2 adults 3 children | $1,174 | $1,179 | $1,542 | $1,445 | $1,088 |
| 1 adult 3 children | $1,174 | $963 | $1,146 | $1,445 | $1,272 |
| 2 adults 2 children | $826 | $965 | $1,292 | $1,256 | $874 |
| 1 adult 2 children | $826 | $721 | $896 | $1,256 | $900 |
| 2 adults 1 child | $826 | $763 | $1,042 | $641 | $776 |
| 1 adult 1 child | $826 | $493 | $646 | $641 | $656 |
| 2 adults | $694 | $613 | $792 | $0 | $626 |
| 1 adult | $552 | $334 | $396 | $0 | $510 |
Safety trends & Data
Redwood County, Minnesota has experienced notable shifts in property crime over the past five years, with larceny-theft peaking at 62.00 incidents in 2018 before dropping to 35.00 by 2022. Burglary incidents have shown stability with a slight decline from 9.00 in 2020 to 4.00 in 2022, while vandalism arrests hit a high of 14.00 in 2019 but fell to 4.00 by 2022. Fraud arrests peaked at 12.00 in both 2018 and 2021, but slightly decreased to 11.00 in 2022. These patterns may signal potential... Read more
Property Crime Trends in Redwood County, MN Over the Last 5 Years
Redwood County, Minnesota has seen significant fluctuations in property crime over the last five years, particularly with larceny-theft consistently being the most common offense. Notably, the number of larceny-theft incidents peaked in 2018 at 62.0 and saw a decrease to 35.0 by 2022. Burglary incidents showed relative stability but dropped from 9.0 in 2020 to 4.0 in 2022. Vandalism arrests, while variable, generally remained low, peaking at 14.0 in 2019 but falling to 4.0 by 2022. Fraud arrests have varied, hitting a high of 12.0 in both 2018 and 2021, then slightly decreasing to 11.0 in 2022. These trends suggest a general decline in many types of property crime, which might interest real estate investors, appraisers, and insurance agents considering the stability it might indicate for the area.
Demographics
Redwood County, Minnesota's demographic profile reveals a relatively balanced gender distribution with males and females almost equal in number. A significant portion of the population has high school diplomas, but fewer possess graduate or professional degrees. The age distribution indicates a larger proportion of older adults, suggesting potential future demands in healthcare and senior services. The racial makeup is predominantly White, with small representations from other racial and ethnic... Read more
Race Distribution in Redwood County, Minnesota (2022)
Educational Attainment in Redwood County, Minnesota (2022)
Age Distribution in Redwood County, Minnesota
Citizen Population in Redwood County, Minnesota (2022)
Political Trends & Data
In Redwood County, Minnesota, the 2020 presidential election results indicate a significant Republican dominance, with the GOP securing nearly 70% of the votes. Democrats trailed behind with just under 29%, and third-party candidates barely made a dent, collectively earning just over 1%. This potentially stable Republican base could influence local policy and community decisions, impacting factors like urban development and real estate market... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Redwood County in Minnesota leaned heavily Republican in the 2020 presidential election, with nearly 70% of the votes, while Democrats garnered just under 29%. Third-party candidates, including Libertarians and Greens, collectively received slightly more than 1% of the vote. This suggests a solid Republican base in the county, with minimal impact from other political affiliations.
69.66% of voters voted for the Republican party in the 2020 Presidential Election
28.43% of voters voted for the Democrat party in the 2020 Presidential Election
0.92% of voters voted for the Livertarian party in the 2020 Presidential Election
0.13% of voters voted for the Green party in the 2020 Presidential Election
0.86% of voters voted for the Other party in the 2020 Presidential Election
School Data
Redwood County, Minnesota has seen its student-to-teacher ratio rise from about 10 students per teacher in the early 2010s to just over 12 in 2023, still below the national average of 14. This could appeal to families prioritizing education due to the potential for more personalized attention in schools, possibly signaling higher school quality. Real estate investors, appraisers, and insurance agents might view these educational metrics as indicative of stable home values and lower risk... Read more
Student-to-teacher ratio in Redwood County, Minnesota over the last 10 years
Over the last decade, Redwood County, Minnesota has experienced a gradual increase in its student-to-teacher ratio, rising from around 10 students per teacher in the early 2010s to just over 12 in 2023. This trend is worth noting for prospective investors, potential residents, and those in the real estate market, as a lower student-to-teacher ratio often suggests more personalized attention for students, potentially indicating higher school quality. The current ratio in Redwood County is still below the national average of 14 students per teacher, potentially making the area attractive for families prioritizing education. Appraisers and insurance agents might also consider the implications, as areas with strong educational metrics tend to show stable home values and potentially lower risk profiles.
