Wilkin County Real Estate and Livability Trends
Wilkin County, Minnesota, shows intriguing real estate trends. Median home values jumped from $114,800 in 2015 to $169,100 in 2022, signaling potential infrastructure improvements and community investment. Average residential energy tax credits hit $450.00 in 2021, implying a growing interest in energy-efficient homes. Real estate taxes nearly doubled over a decade, likely reflecting higher... Read more
Wilkin County Market Trends
Wilkin County, Minnesota, presents a compelling case for real estate investment, showing a steady increase in median home values from $114,800 in 2015 to $169,100 in 2022, which remains competitive against broader state and national trends. Average residential energy tax credits have fluctuated, peaking at $450.00 in 2021, reflecting a dynamic interest in energy-efficient properties. The average... Read more
Median Value of Occupied Housing Units in Wilkin County, Minnesota Over the Last 8 Years
Wilkin County, Minnesota has seen a steady increase in median home values from $114,800 in 2015 to $169,100 in 2022. While this growth rate is significant, it’s still more affordable compared to Minnesota’s state-wide rise from $186,200 to $286,800, and the national increase from $125,500 to $179,400 over the same period. For potential investors and homebuyers, this indicates that Wilkin County might offer an attractive market with competitive pricing, potentially providing good value compared to the broader state and national markets.
Residential Energy Tax Credit Per Tax Return in Wilkin County, MN Over the Last 8 Years
Wilkin County, Minnesota has seen fluctuations in its average residential energy tax credit per tax return over the past eight years, ranging from as low as $200.00 in 2015 to a peak of $450.00 in 2021. This variation suggests that local policies and homeowner investments in energy efficiency have had dynamic impacts. These trends may be instrumental for potential investors, real estate agents, and insurance agents assessing the market's readiness and attractiveness for energy-efficient property enhancements. Understanding these patterns can offer valuable insights for appraisors and those looking to capitalize on energy-related incentives when considering new construction or property improvements in the county.
Average Real Estate Taxes Per Tax Return in Wilkin County, MN Over the Last 10 Years
Wilkin County, Minnesota, has seen a significant upward trend in average real estate taxes per tax return over the last decade. In 2012, the average tax was approximately $1,884.38, but by 2021, this figure had nearly doubled to around $3,728.57. This steady increase may signal rising property values, evolving community infrastructure, or changes in tax policies, offering potential investors and homebuyers pertinent insights into the region's economic environment. Such data is essential for appraisers, insurance agents, and real estate agents in making informed decisions.
Percentage of Farm Returns in Wilkin County, MN Over the Last 10 Years
Wilkin County, Minnesota has seen farm tax returns hover around 10.00% over the past decade, with slight dips and rises from year to year. In 2019, there was a noteworthy decrease to 9.43%, followed by a modest recovery towards 9.60% in 2020 and 9.56% in 2021. Farm tax returns are essentially tax filings by farms, reflecting agricultural productivity and economic health. Investors eyeing rural land or agribusiness opportunities might find these trends indicative of the region's agricultural stability but should be prepared for fluctuations.
Number of Mortgages by Occupancy Type in Wilkin County, MN Over the Last 5 Years in Wilkin County
Over the past five years, Wilkin County, Minnesota, has seen varying trends in mortgage counts by occupancy type. Principal residences dominated the market consistently, peaking at 374 mortgages in 2020, while second residences and investment properties remained notably lower, though investment property mortgages rose from 7 in 2018 to 15 in 2022. For investors and developers, these shifts hint at a stable residential market with periodic interest in investment properties, potentially elevating local property values and influencing future development plans. Appraisers and insurance agents might note the dominance of principal residences when assessing risk and value, while real estate agents can target marketing efforts based on the prevalent residential preference.
Economic Outlook
In Wilkin County, Minnesota, the average taxable income per tax return has varied notably, with a low of $55,138.58 in 2017 rebounding to $69,345.89 in 2021. Meanwhile, average state and local income taxes have generally decreased from $12,685.71 in 2013 to around $6,208.33 in 2018, stabilizing at roughly $9,000 more recently. Total tax liabilities also saw a decline from $11,448.21 in 2012 to $6,978.57 in 2019, inching up to $9,359.30 by 2021. These fluctuations could impact property values,... Read more
Average Taxable Income per Tax Return in Wilkin County, MN over the last 9 years
Over the past nine years in Wilkin County, Minnesota, the average taxable income per tax return has shown notable fluctuations. From a high of $63,310.43 in 2013, it dipped significantly, bottoming out at $55,138.58 in 2017. However, recent years have indicated a rebound, peaking at $69,345.89 in 2021. These variations could influence investment decisions, property valuations, and insurance premiums, making it crucial for real estate agents, appraisers, and potential new residents to stay informed.
Average State and Local Income Taxes Per Tax Return in Wilkin County, MN Over the Last 10 Years
Wilkin County, Minnesota has seen fluctuations in average state and local income taxes per tax return over the last decade. Investors and potential homeowners may find it notable that taxes peaked at approximately $12,685.71 in 2013 but have generally trended downwards, reaching a low of around $6,208.33 in 2018. The stability around the $9,000 mark in recent years could suggest a more predictable tax environment, which might appeal to those looking for financial planning consistency.
Average Total Tax Liability Per Tax Return in Wilkin County, MN Over the Last 10 Years
Over the past 10 years in Wilkin County, Minnesota, the average total tax liability per tax return has seen a notable decline from $11,448.21 in 2012 to a low of $6,978.57 in 2019, with a slight uptick to $9,359.30 by 2021. This trend reflects an overall decrease in tax liabilities, which might suggest a drop in income levels or effective tax rates over time. Investors, property developers, and real estate agents should monitor these tax liability trends, as they could impact property values, financial planning, and market attractiveness in the county.
Cost of Living in Wilkin County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,174 | $1,375 | $1,738 | $1,234 | $1,154 |
| 1 adult 4 children | $1,174 | $1,123 | $1,353 | $1,234 | $1,344 |
| 2 adults 3 children | $1,174 | $1,124 | $1,496 | $1,234 | $945 |
| 1 adult 3 children | $1,174 | $917 | $1,111 | $1,234 | $1,107 |
| 2 adults 2 children | $826 | $920 | $1,254 | $1,076 | $770 |
| 1 adult 2 children | $826 | $687 | $869 | $1,076 | $763 |
| 2 adults 1 child | $826 | $727 | $1,012 | $564 | $714 |
| 1 adult 1 child | $826 | $470 | $627 | $564 | $594 |
| 2 adults | $628 | $584 | $770 | $0 | $575 |
| 1 adult | $552 | $319 | $385 | $0 | $492 |
Safety trends & Data
Wilkin County, Minnesota has experienced fluctuating property crime trends over the past five years. Burglary incidents peaked in 2022 with 7 cases, and both 2021 and 2019 saw increases in larceny-theft, though numbers fell in 2020 and 2022. Fraud surged in 2020 with 6 cases, while forgery and counterfeiting rose in 2021 and 2022. Vandalism remained relatively steady, and motor vehicle theft occurrences stayed low without notable increases. These nuanced trends could impact decisions for... Read more
Property Crime Trends in Wilkin County, MN Over the Last 5 Years
Over the last five years, Wilkin County, Minnesota has seen varied trends in property crime. Burglary incidents peaked significantly in 2022 with 7 cases, and 2021 and 2019 also saw increases. Larceny-theft had the highest recorded numbers in 2019 and 2021, but dropped notably in 2020 and 2022. Instances of fraud surged in 2020 with 6 reported cases, while forgery and counterfeiting saw a noticeable rise in 2021 and 2022. Vandalism cases fluctuated but remained relatively constant over the period. Motor vehicle theft occurrences were low, with no substantial increases. These trends provide a nuanced picture for investors, residents, and professionals monitoring the area's property crime landscape.
Demographics
Wilkin County, Minnesota shows a relatively balanced gender distribution with a slight male majority. Educationally, most residents have at least a high school diploma, with a significant portion attending some college or earning an associate’s degree, indicating a possibly moderate inclination towards higher education. Age distribution spans across various cohorts with the 55 to 64 years demographic being quite prominent. The racial composition of the county is predominantly White, though... Read more
Race Distribution in Wilkin County, Minnesota (2022)
Educational Attainment in Wilkin County, Minnesota (2022)
Age Distribution in Wilkin County, Minnesota
Citizen Population in Wilkin County, Minnesota (2022)
Political Trends & Data
Wilkin County, Minnesota, saw a notable preference for the Republican Party in the 2020 U.S. Presidential Election, with Republicans securing roughly 68% of the vote and Democrats around 30%. Third-party candidates had a very minor impact, capturing about 1.2% for the Libertarian Party and less than 1% for others. This conservative tilt could potentially sway local and state elections... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Wilkin County, Minnesota, the 2020 U.S. Presidential Election showed a significant leaning towards the Republican Party, which captured approximately 68% of the vote, while the Democratic Party garnered around 30%. The presence of third-party candidates was minimal, with the Libertarian Party receiving about 1.2% and other parties collectively securing less than 1%. This trend may suggest a strong conservative base in this area, possibly influencing local and state-level elections as well.
67.87% of voters voted for the Republican party in the 2020 Presidential Election
29.91% of voters voted for the Democrat party in the 2020 Presidential Election
1.20% of voters voted for the Livertarian party in the 2020 Presidential Election
0.15% of voters voted for the Green party in the 2020 Presidential Election
0.87% of voters voted for the Other party in the 2020 Presidential Election
School Data
Wilkin County, Minnesota has seen its student-to-teacher ratio peak at 17 in 2022, significantly above the national average of 14. Higher ratios could affect the quality of education, making this a crucial consideration for families thinking about moving in. For real estate professionals, understanding these trends can help predict housing demand in areas with better school resources. Builders and developers may benefit from addressing educational needs early, thereby attracting families... Read more
Student-to-teacher ratio in Wilkin County, Minnesota over the last 10 years
Over the past decade, Wilkin County, Minnesota has experienced fluctuations in its student-to-teacher ratio, peaking at 17 in 2022 and dipping as low as roughly 14 in 2017. Notably, the recent ratios are quite a bit above the current national average of 14 students per teacher. Higher student-to-teacher ratios may influence the quality of education, potentially making it a factor for families considering moving to the area, as smaller class sizes can lead to more individualized attention for students. For real estate agents, appraisers, and investors, understanding these trends can provide insights into the demand for housing in neighborhoods with better school resources. Additionally, insurance agents might see a correlation between these figures and community stability, influencing policy decisions and risk assessments. Builders and developers can also benefit from this information by addressing educational needs in their planning stages, thereby attracting families seeking strong educational environments.
