Steele County Real Estate and Livability Trends
In Steele County, Minnesota, rising taxable incomes from around $54,375.30 in 2013 to approximately $70,914.16 in 2021 and a surge in state and local taxes signal economic growth and higher earning potential. Median home values have escalated from $150,500 in 2015 to $217,100 in 2022, outpacing national trends, making the area attractive for buyers seeking growth. Enhanced safety with significant... Read more
Steele County Market Trends
Steele County, Minnesota, has seen its median home values rise from $150,500 in 2015 to $217,100 in 2022, outpacing national trends but lagging behind the state. This could signal good value for prospective buyers and investors seeking growth without the steep costs seen in other parts of Minnesota. Real estate taxes have increased considerably, going from $2,490.18 in 2012 to $4,302.27 in 2021,... Read more
Median Value of Occupied Housing Units in Steele County, Minnesota Over the Last 8 Years
Steele County, Minnesota, has seen its median home values rise significantly from $150,500 in 2015 to $217,100 in 2022. This local increase surpasses the national median, which went from $125,500 to $179,400 over the same period, but still lags behind the overall state trends in Minnesota, where home values jumped from $186,200 to $286,800. For prospective buyers and investors, this data suggests that Steele County could offer more affordable housing options compared to the broader state while still experiencing substantial appreciation. This contrast might make Steele County particularly appealing for those looking for growth potential without the higher entry costs seen statewide.
Residential Energy Tax Credit Per Tax Return in Steele County, MN Over the Last 8 Years
Residential energy tax credits in Steele County, Minnesota have shown notable fluctuations over the past eight years, with a significant increase in recent years. For instance, the average credit peaked at $925.00 in 2019 and maintained high levels through 2021 at $921.43. Investments in residential energy efficiency appear to have become a priority, providing both potential savings and incentives that might interest homeowners, real estate agents, and builders alike. The variability, particularly the sharp rise during the past three years, suggests that there may be evolving local or state policies enhancing these credits, which could be a draw for new residents and investors.
Average Real Estate Taxes Per Tax Return in Steele County, MN Over the Last 10 Years
Over the past decade, real estate taxes per tax return in Steele County, Minnesota have seen a notable upward trend, moving from approximately $2,490.18 in 2012 to around $4,302.27 in 2021. This increase highlights potential changes in property values and local tax policies, which may impact decisions for investors, prospective homeowners, and real estate professionals focused on this region. As the tax burden has nearly doubled, this shift becomes a key factor for anyone considering long-term investments or developments in Steele County.
Percentage of Farm Returns in Steele County, MN Over the Last 10 Years
Over the past decade, farm tax returns in Steele County, Minnesota, have shown a gradual decline from approximately 4.53% in 2012 to 3.47% in 2021. This trend could suggest a shrinking agricultural base, possibly due to urbanization, changing economic conditions, or shifts in land use. This information might influence decisions for investors and developers considering opportunities in the area, as it points to evolving land utilization patterns that could affect future property values and business prospects. For residents and potential movers, understanding these dynamics is crucial as they can impact community structure, local economy, and employment prospects.
Number of Mortgages by Occupancy Type in Steele County, MN Over the Last 5 Years in Steele County
Over the last five years, Steele County, Minnesota has seen a consistent preference for principal residences, with their mortgage counts significantly outpacing those for investment properties and second residences. These trends are relevant for investors, builders, and real estate agents as the demand for principal residences can influence property values, market stability, and community planning. Shifts in occupancy types could indicate changing economic conditions, employment rates, or lifestyle preferences, all of which play a role in appraisals and insurance risk assessments. Understanding these dynamics can provide a clearer picture for those looking to invest, build, or simply understand the local real estate landscape.
Economic Outlook
In Steele County, Minnesota, the average taxable income per tax return has steadily increased from around $54,375.30 in 2013 to approximately $70,914.16 in 2021, hinting at economic growth and higher earning potential. Over the same decade, average state and local income taxes per tax return have risen significantly, jumping from $5,761.69 in 2012 to $12,710.00 in 2021, with a notable 58% surge between 2017 and 2018. The average total tax liability has also generally climbed, peaking at... Read more
Average Taxable Income per Tax Return in Steele County, MN over the last 9 years
In Steele County, Minnesota, the average taxable income per tax return has shown a steady increase over the past nine years. Beginning in 2013 at around $54,375.30, it has risen to approximately $70,914.16 in 2021. This upward trend could be indicative of economic growth and higher earning potentials, which may be relevant for investors, prospective residents, and real estate professionals evaluating the area's financial health. Such increases in average income might suggest a robust local economy and potential for continued demand in the housing market.
Average State and Local Income Taxes Per Tax Return in Steele County, MN Over the Last 10 Years
Over the past decade in Steele County, Minnesota, average state and local income taxes per tax return have shown a significant upward trend, with figures rising from $5,761.69 in 2012 to $12,710.00 in 2021. The rate of increase varied yearly, notably jumping by over 58% between 2017 and 2018, and demonstrating sustained growth, particularly in the last few years. This trend suggests a rising tax burden for residents, which could be a consideration for individuals and businesses evaluating the financial landscape of the area.
Average Total Tax Liability Per Tax Return in Steele County, MN Over the Last 10 Years
Steele County, Minnesota has seen a fluctuating yet generally upward trend in average total tax liability per tax return over the last decade. Starting at $7,576.62 in 2012, there were gradual increases each year, peaking notably at $9,850.48 in 2021. The year 2020 marks a significant jump to $9,442.78 from the previous year's $8,171.79. This rise could point to several factors such as changes in income levels, property values, or even local economic policies. For those interested in investing or purchasing property in Steele County, these trends offer an insightful glimpse into the region's fiscal dynamics and potential financial commitments.
Cost of Living in Steele County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,334 | $1,560 | $2,438 | $1,445 | $1,712 |
| 1 adult 4 children | $1,334 | $1,274 | $1,907 | $1,445 | $1,838 |
| 2 adults 3 children | $1,334 | $1,275 | $2,094 | $1,445 | $1,389 |
| 1 adult 3 children | $1,334 | $1,041 | $1,563 | $1,445 | $1,553 |
| 2 adults 2 children | $939 | $1,043 | $1,750 | $1,256 | $1,053 |
| 1 adult 2 children | $939 | $779 | $1,219 | $1,256 | $1,095 |
| 2 adults 1 child | $939 | $825 | $1,406 | $641 | $921 |
| 1 adult 1 child | $939 | $533 | $875 | $641 | $792 |
| 2 adults | $726 | $663 | $1,062 | $0 | $722 |
| 1 adult | $666 | $361 | $531 | $0 | $582 |
Safety trends & Data
Steele County, Minnesota has experienced a significant decrease in property crime over the past five years, offering a potentially safer environment for residents and investors alike. Larceny and theft incidents dropped from 165.00 in 2018 to 106.00 in 2022, while burglary cases fell from 6.00 to 3.00, and motor vehicle thefts decreased from 19.00 to just 4.00. This downward trend might enhance the region's appeal for real estate and property development, which could be particularly interesting... Read more
Property Crime Trends in Steele County, MN Over the Last 5 Years
Over the last five years, Steele County, Minnesota has seen a noticeable decrease in property crime incidents. While larceny and theft consistently remain the most common crimes, their numbers have trended downward from 165.0 in 2018 to 106.0 in 2022. Burglary and motor vehicle theft have similarly declined, with burglary dropping from 6.0 in 2018 to just 3.0 in 2022, and motor vehicle theft decreasing from 19.0 to 4.0 over the same period. This downward shift is significant for potential investors and residents, indicating a potentially safer environment and enhancing the region's appeal for real estate and property development. The same trend may interest appraisers and insurance agents focusing on risk assessment and property valuation.
Demographics
Steele County, Minnesota, presents a fairly balanced gender distribution among adults, with males and females almost equally represented. Education levels reveal a sizeable portion achieving high school degrees and further education, suggesting a well-educated population. The age distribution skews slightly towards middle-aged and older adults, potentially indicating a stable, aging demographic. The racial makeup is predominantly White, with smaller, but diverse minority groups present,... Read more
Race Distribution in Steele County, Minnesota (2022)
Educational Attainment in Steele County, Minnesota (2022)
Age Distribution in Steele County, Minnesota
Citizen Population in Steele County, Minnesota (2022)
Political Trends & Data
Steele County, Minnesota, appears to lean Republican based on the 2020 U.S. Presidential Election results, with roughly 60% voting for the GOP. Democratic presence is notable at around 37%, while third parties like the Libertarians and Greens remain minimal, collectively under 3%. This might indicate a strong conservative base with some level of Democratic... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Steele County, located in Minnesota, likely leaned toward the Republican party in the 2020 U.S. Presidential Election, with roughly 60% of the votes. Approximately 37% of votes went to the Democratic party, indicating some presence. Libertarians and Greens, along with other parties, collectively made up less than 3% of the vote, suggesting minimal influence. The data potentially reflects broader political trends within this region.
59.90% of voters voted for the Republican party in the 2020 Presidential Election
37.47% of voters voted for the Democrat party in the 2020 Presidential Election
1.32% of voters voted for the Livertarian party in the 2020 Presidential Election
0.33% of voters voted for the Green party in the 2020 Presidential Election
0.98% of voters voted for the Other party in the 2020 Presidential Election
School Data
Steele County, Minnesota has experienced significant shifts in its student-to-teacher ratio over the past decade, peaking at over forty students per teacher in 2014 and later stabilizing between fourteen and nineteen. These fluctuations can influence school funding decisions, real estate prices, and local infrastructure, affecting the county's attractiveness to potential residents and... Read more
Student-to-teacher ratio in Steele County, Minnesota over the last 10 years
Steele County, Minnesota has seen significant fluctuations in its student-to-teacher ratio over the last decade, with a notable high of over forty students per teacher in 2014. More recent years have shown ratios varying between roughly fourteen and nineteen, closely aligning with the national average of around fourteen students per teacher in certain years, but occasionally exceeding it. These changes can impact decisions related to school funding, real estate pricing, and even local infrastructure development, offering varying degrees of appeal to potential residents, investors, and professionals in educational planning and insurance sectors.
