Wadena County Real Estate and Livability Trends
Wadena County, Minnesota's real estate market offers intriguing trends for potential investors and homebuyers. Median home values soared from $114,300 in 2015 to $163,400 in 2022, though the county remains more affordable than both state and national medians. Rising taxable incomes and fluctuating real estate taxes suggest increasing property values, while a significant Republican presence could... Read more
Wadena County Market Trends
Wadena County, Minnesota's real estate market has seen its median home values increase from $114,300 in 2015 to $163,400 in 2022, a noteworthy rise considering the state and national trends. Despite this growth, the county remains considerably more affordable than the state median of $286,800 and the national median of $179,400, potentially drawing those looking for cost-effective housing options... Read more
Median Value of Occupied Housing Units in Wadena County, Minnesota Over the Last 8 Years
Over the past eight years, median home values in Wadena County, Minnesota, have shown a remarkable increase from $114,300 in 2015 to $163,400 in 2022. This local market's growth is compelling when compared to broader trends: the state of Minnesota saw its median home values rise from $186,200 to $286,800, while the national figures grew from $125,500 to $179,400 during the same period. Wadena County's latest median value is substantially lower than both the state and national medians, making it potentially attractive for those looking to invest or move to a more affordable area within Minnesota.
Residential Energy Tax Credit Per Tax Return in Wadena County, MN Over the Last 8 Years
Wadena County, Minnesota has seen fluctuating average residential energy tax credits per tax return over the last eight years. There was a notable dip in 2017 to $171.43, followed by a significant increase in 2019 to $420.00, peaking in 2020 at $470.00. This trend might suggest varying levels of investment and incentives in energy-efficient improvements, which could be of interest to those looking to invest in properties with potentially lower long-term energy costs. Additionally, these figures could serve as a useful benchmark for appraisers and insurance agents assessing property values and risks related to energy upgrades in the area.
Average Real Estate Taxes Per Tax Return in Wadena County, MN Over the Last 10 Years
Over the past decade, Wadena County, Minnesota has seen a notable increase in average real estate taxes per tax return, starting at approximately $2,177.24 in 2012 and peaking at around $3,568.75 in 2020. While there was a slight reduction to $3,470.59 in 2021, this overall upward trend might indicate escalating property values or increased taxation rates. Such trends could potentially impact investment decisions, housing affordability, and insurance assessments. The noticeable jump between 2016 and 2020, particularly in 2018 and 2019, suggests substantial shifts that could interest real estate professionals, appraisers, and prospective buyers or investors.
Percentage of Farm Returns in Wadena County, MN Over the Last 10 Years
Farm tax returns in Wadena County, Minnesota have generally shown a slight but steady decline over the past decade, falling from about 10.36% of all returns in 2012 to roughly 7.52% in 2021. Farm tax returns reflect the financial health of the farming community and their contributions to the local economy. This trend might suggest a gradual shift away from farming or changes in the economic landscape, which could influence property investment and development opportunities in the area. Potential investors or those considering moving to the county may want to weigh these trends in their decision-making.
Number of Mortgages by Occupancy Type in Wadena County, MN Over the Last 5 Years in Wadena County
Wadena County, Minnesota has shown fluctuations in mortgage activity over the past five years. The number of mortgages for principal residences peaked notably in 2021 with 517 mortgages, suggesting a surge in people prioritizing primary homes, perhaps driven by pandemic-related lifestyle changes. Comparatively, the values for investment properties and second residences have remained significantly lower, though there was a slight increase in second residence mortgages in 2020 at 25, possibly due to shifts in remote work trends. These changes in occupancy type matter because they reflect broader economic and social trends, impacting property demand, real estate market stability, insurance risk assessments, and long-term investment strategies for those involved in the local housing market.
Economic Outlook
Average taxable income in Wadena County, Minnesota has risen steadily over the past decade, starting at $41,586.64 in 2013 and climbing to $56,699.69 by 2021. This trend could signal economic growth or rising wages, which are crucial indicators for potential investors and real estate professionals. Additionally, state and local income taxes have notably increased, particularly from 2017 onwards, with a peak of $11,300.00 in 2020 before a slight drop to $9,723.53 in 2021. Total tax liability per... Read more
Average Taxable Income per Tax Return in Wadena County, MN over the last 9 years
Over the past nine years, Wadena County, Minnesota, has seen a steady increase in the average taxable income per tax return, starting from $41,586.64 in 2013 and reaching $56,699.69 in 2021. This upward trend, especially the significant jump between 2020 and 2021, potentially reflects economic growth or rising wages in the area. This data could be particularly relevant to real estate agents, appraisers, and potential investors, as it indicates increasing economic stability and possibly a growing local economy, which could influence property values and market demand.
Average State and Local Income Taxes Per Tax Return in Wadena County, MN Over the Last 10 Years
Over the last decade, Wadena County, Minnesota has seen a significant increase in average state and local income taxes per tax return, especially from 2017 onwards. The most notable jump occurs between 2017, with taxes averaging $6,053.04, and 2018, which saw a spike to $8,769.57. This trend continues into 2019 and 2020, peaking at $11,300.00 before a slight decline in 2021 to $9,723.53. These growth patterns could indicate a robust economic environment or changes in tax policy, making it worth examining for potential investors, homebuyers, or residents considering the area.
Average Total Tax Liability Per Tax Return in Wadena County, MN Over the Last 10 Years
Wadena County, Minnesota has seen some fluctuations in average total tax liability per tax return over the past decade, with noticeable increases in recent years, culminating in a significant jump to $7,124.95 in 2021. While the average hovered around $5,500 to $6,000 from 2012 to 2020, the latest spike suggests changing economic conditions or tax policies that could interest investors, insurers, and real estate professionals. The upward trend in tax liabilities might reflect rising property values or income levels, making it essential for appraisers and those looking to build or buy property to keep an eye on potential adjustments in tax assessments and costs.
Cost of Living in Wadena County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,019 | $1,408 | $1,855 | $1,234 | $1,144 |
| 1 adult 4 children | $1,019 | $1,149 | $1,446 | $1,234 | $1,318 |
| 2 adults 3 children | $1,019 | $1,150 | $1,596 | $1,234 | $925 |
| 1 adult 3 children | $1,019 | $939 | $1,187 | $1,234 | $1,070 |
| 2 adults 2 children | $837 | $941 | $1,337 | $1,076 | $814 |
| 1 adult 2 children | $837 | $703 | $928 | $1,076 | $814 |
| 2 adults 1 child | $837 | $744 | $1,078 | $564 | $748 |
| 1 adult 1 child | $837 | $481 | $668 | $564 | $622 |
| 2 adults | $717 | $598 | $819 | $0 | $624 |
| 1 adult | $560 | $326 | $409 | $0 | $502 |
Safety trends & Data
Wadena County, Minnesota has experienced fluctuating property crime rates over the last five years, with larceny-theft cases peaking at 52 in 2021 before dropping to 39 in 2022. Vandalism incidents saw a high of 20 in 2020, then decreased to 13 by 2022. Fraud cases have been inconsistent, reaching 28 in both 2018 and 2020 but varying significantly in other years. These trends are crucial for investors and property developers to consider, as they may impact property values and insurance... Read more
Property Crime Trends in Wadena County, MN Over the Last 5 Years
Wadena County, Minnesota has seen fluctuating property crime rates over the last five years, with notable spikes and drops in specific categories. Larceny-theft cases surged to 52 in 2021 but then decreased to 39 in 2022. Vandalism peaked in 2020 at 20 incidents but fell to 13 by 2022. Fraud incidents have been inconsistent, peaking at 28 in both 2018 and 2020 while dropping significantly in other years. These dynamic trends are essential for potential investors, property developers, and real estate agents to consider, as they indicate varying levels of risk and security that might affect property values and insurance premiums.
Demographics
Wadena County, Minnesota features a nearly balanced gender demographic with males and females making up 49.4% and 52.0% of the population, respectively. Educational attainment is diverse yet skewed towards high school graduates and those with some college education, while advanced degrees are less common. The age distribution suggests a substantial portion of the population is clustered in the 25 to 64 age range, indicating a potentially stable workforce. The racial composition is predominantly... Read more
Race Distribution in Wadena County, Minnesota (2022)
Educational Attainment in Wadena County, Minnesota (2022)
Age Distribution in Wadena County, Minnesota
Citizen Population in Wadena County, Minnesota (2022)
Political Trends & Data
Wadena County, Minnesota leaned heavily Republican in the 2020 U.S. Presidential Election, with almost 72% of the vote, while the Democratic party drew a little over 26%. This significant conservative presence could influence local policies and political strategies, shaping everything from community planning to zoning... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Wadena County, Minnesota, the 2020 U.S. Presidential Election showed a significant lean towards the Republican party, with nearly 72% of the vote. The Democratic party garnered just over 26%, while other parties like the Libertarian and Green received less than 1% each. These figures might suggest a strong conservative presence in the county, potentially impacting local policies and political strategies.
71.90% of voters voted for the Republican party in the 2020 Presidential Election
26.35% of voters voted for the Democrat party in the 2020 Presidential Election
0.70% of voters voted for the Livertarian party in the 2020 Presidential Election
0.18% 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
Over the last decade, Wadena County, Minnesota, has seen student-to-teacher ratios that generally hover around the national average of 14 students per teacher. In 2021, this ratio dropped to 12.55, only to rise slightly but remain below earlier highs. Lower ratios could hint at better educational quality, potentially drawing more residents and impacting real estate evaluations. For real estate agents, such trends can be a key selling point, underscoring the county's commitment to more... Read more
Student-to-teacher ratio in Wadena County, Minnesota over the last 10 years
Over the last decade, the student-to-teacher ratio in Wadena County, Minnesota, has fluctuated, generally hovering around the national average of 14 students per teacher. Notably, the ratio saw a decrease to 12.55 in 2021 and has since risen slightly but remains below previous highs. These changes in student-to-teacher ratios could influence various stakeholders: investors and families might see lower ratios as indicative of improved educational quality, potentially attracting more residents, while appraisers and insurance agents might need to consider these dynamics in their evaluations. For real estate agents, a lower student-to-teacher ratio could be a selling point, highlighting the county's commitment to more individualized attention in schools.
