Benton County Real Estate and Livability Trends
Benton County, Mississippi's real estate market showcases intriguing trends. From median home values rising from $72,800 in 2015 to $96,200 in 2022, to jumps in residential energy tax credits hinting at a growing interest in energy-efficient homes, there's a narrative of increasing but tempered growth. Real estate taxes have doubled over the past decade, suggesting higher property values or... Read more
Benton County Market Trends
Benton County, Mississippi's real estate market shows intriguing fluctuations. Median home values in the county rose from $72,800 in 2015 to $96,200 in 2022, diverging from more robust climbs statewide and nationally. Residential energy tax credits per return have jumped from an average of $333.33 in 2013-2014 to $775.00 in 2020, hinting at a growing market for energy-efficient homes. Real estate... Read more
Median Value of Occupied Housing Units in Benton County, Mississippi Over the Last 8 Years
Benton County, Mississippi has seen its median home values fluctuate over the past eight years, showing an increase from $72,800 in 2015 to $96,200 in 2022. This local trend contrasts with steady growth seen statewide where values rose from $103,100 to $151,000 and nationally where they climbed from $125,500 to $179,400. This could signal both opportunities and risks for investors and residents, hinting at a potentially lower entry point but also possibly less robust value appreciation in Benton County compared to broader trends.
Residential Energy Tax Credit Per Tax Return in Benton County, MS Over the Last 7 Years
The trend in Benton County, Mississippi reveals a notable increase in residential energy tax credits per tax return over the past seven years. From a consistent average of $333.33 around 2013 to 2014, there was a gradual rise to $400.00 in 2015, followed by variability until a significant spike to $600.00 in 2019 and further to $775.00 in 2020. Although there was a slight decrease to $760.00 in 2021, this upward trend is indicative of increasing investments in energy-efficient improvements, likely signaling heightened awareness and adoption of green technologies in residential properties. This trend could be relevant for investors and other stakeholders looking at Benton County as it may hint at a growing market for sustainable living features, possibly affecting property values and energy-related services demand in the area.
Average Real Estate Taxes Per Tax Return in Benton County, MS Over the Last 10 Years
In Benton County, Mississippi, the average real estate tax per tax return has shown a general upward trend over the last decade. Starting at approximately $1,075.76 in 2012, the taxes increased to around $2,316.67 by 2021. Notably, there was a distinct jump from $1,516.67 in 2020 to the 2021 figure. This could suggest increasing property values or adjustments in tax rates, making it important for potential investors, real estate agents, and property developers to consider the possible impact on long-term costs. Zelfs longer-term residents and insurance agents, keeping an eye on these changes, might find it useful for financial planning.
Percentage of Farm Returns in Benton County, MS Over the Last 10 Years
The percentage of farm tax returns in Benton County, Mississippi has generally seen a slight downward trend over the last decade, dipping from about 5.90% in 2012 to roughly 5.32% in 2021. Farm tax returns are important indicators of agricultural activity in the area, reflecting the economic contributions of local farmers. This could be a critical factor for those interested in investing in, moving to, or building property in Benton County, as it gives insight into the stability and growth potential of the local agricultural sector.
Number of Mortgages by Occupancy Type in Benton County, MS Over the Last 5 Years in Benton County
The data shows a noticeable trend in Benton County, Mississippi, with principal residences consistently accounting for the bulk of mortgages, fluctuating between 231 to 284 over the past five years. Investment property mortgages have remained relatively stable but lower in comparison, averaging around 15 per year. Changes in the number of mortgages for principal residences versus investment properties might suggest shifts in the local housing market's stability and potential return on investment. This can influence property values, insurance costs, and market dynamics—all critical for investors, real estate agents, appraisers, and anyone considering moving to or developing property in the area. Notably, second residences have shown the least variation in mortgage counts, indicating perhaps a more stable, albeit smaller, sector within the local real estate market.
Economic Outlook
Benton County, Mississippi has seen a steady climb in average taxable income per tax return, rising from around $32,466.67 in 2013 to about $44,658.19 in 2021. This sustained growth hints at an increasingly robust economic base, attracting potential homeowners, investors, and businesses. Concurrently, average state and local income taxes reflect generally increasing trends, peaking at roughly $3,418.18 in 2019, possibly pointing to shifts in fiscal policy or resident earnings. The average total... Read more
Average Taxable Income per Tax Return in Benton County, MS over the last 9 years
Benton County, Mississippi has seen a steady increase in average taxable income per tax return over the past nine years, climbing from approximately $32,466.67 in 2013 to about $44,658.19 in 2021. This continuous uptick suggests a potentially growing economic base or higher earning residents making the area more attractive for potential homeowners, real estate investors, and businesses looking for a financially stable locale. The rising income levels might also impact property values and insurance premiums, making it a focal point for appraisors and agents assessing future market trends.
Average State and Local Income Taxes Per Tax Return in Benton County, MS Over the Last 10 Years
Over the last decade, Benton County, Mississippi has shown fluctuating but generally increasing average state and local income taxes per tax return, with figures ranging from about $2,580.85 in 2016 to a peak of approximately $3,418.18 in 2019. This trend could suggest a growing fiscal responsibility among residents or changes in local tax policies. For those looking to invest, move, or build property in the area, staying informed about these tax trends might provide useful insights into the region's economic landscape and cost of living adjustments.
Average Total Tax Liability Per Tax Return in Benton County, MS Over the Last 10 Years
Benton County, Mississippi has experienced a fluctuating trend in average total tax liability per tax return over the past decade. The values tend to rise overall, with a notable increase from around $3,740.40 in 2012 to approximately $5,470.27 in 2021. However, there were some dips and recoveries, such as in 2016 and 2018. This trend might reflect economic changes in the area, signaling potential growth or increased income levels, which could interest investors, real estate agents, and those considering moving to or doing business in Benton County.
Cost of Living in Benton County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,037 | $1,303 | $1,934 | $502 | $846 |
| 1 adult 4 children | $1,037 | $1,064 | $1,443 | $502 | $876 |
| 2 adults 3 children | $1,037 | $1,064 | $1,697 | $502 | $686 |
| 1 adult 3 children | $1,037 | $869 | $1,205 | $502 | $669 |
| 2 adults 2 children | $766 | $871 | $1,459 | $435 | $613 |
| 2 adults 1 child | $766 | $689 | $1,221 | $217 | $625 |
| 1 adult 2 children | $766 | $651 | $967 | $435 | $527 |
| 2 adults | $678 | $553 | $984 | $0 | $610 |
| 1 adult 1 child | $766 | $445 | $729 | $217 | $520 |
| 1 adult | $643 | $302 | $492 | $0 | $548 |
Demographics
Benton County, Mississippi shows a slight majority female adult population. Educational attainment leans heavily towards high school graduates, with fewer adults achieving higher education. The age distribution indicates a balanced mix of young adults and middle-aged individuals with a notable portion over 65, hinting at a potentially aging population. Racially, the county is predominantly White, with significant representation from Black or African American... Read more
Race Distribution in Benton County, Mississippi (2022)
Educational Attainment in Benton County, Mississippi (2022)
Age Distribution in Benton County, Mississippi
Citizen Population in Benton County, Mississippi (2022)
Political Trends & Data
Benton County, Mississippi, showed a strong Republican preference in the 2020 U.S. Presidential Election, securing nearly 60% of the vote, while Democrats captured just under 40%. Smaller parties had minimal impact, garnering less than 1% each, indicating a predominantly conservative electorate with limited third-party support. This trend may influence local real estate market dynamics, potentially attracting buyers and investors with similar political... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Benton County, Mississippi, the 2020 U.S. Presidential Election saw a significant leaning towards the Republican party, which garnered nearly 60% of the votes. The Democratic party followed, capturing just under 40% of the votes. Smaller parties had minimal impact, with the Libertarian and Green parties receiving less than 1% each, and other candidates collectively earning roughly half a percent. This voting pattern may suggest a predominantly conservative electorate in Benton County, with limited support for third-party candidates.
59.92% of voters voted for the Republican party in the 2020 Presidential Election
39.15% of voters voted for the Democrat party in the 2020 Presidential Election
0.28% of voters voted for the Livertarian party in the 2020 Presidential Election
0.12% of voters voted for the Green party in the 2020 Presidential Election
0.54% of voters voted for the Other party in the 2020 Presidential Election
School Data
Benton County, Mississippi saw its student-to-teacher ratio hit a high of 15 in 2016, surpassing the national average of 14, before dipping to a low of 7 in 2021 and recently standing at 8 in 2023. These shifts might appeal to families prioritizing individualized education for their children, possibly affecting property values and drawing investment due to anticipated educational benefits. Lower ratios might also play a role in real estate demand and insurance risk... Read more
Student-to-teacher ratio in Benton County, Mississippi over the last 10 years
Benton County, Mississippi has experienced significant fluctuations in its student-to-teacher ratio over the last decade. The ratio peaked at 15 students per teacher in 2016, notably above the current national average of 14, but notably decreased in subsequent years, reaching its lowest point at 7 students per teacher in 2021. Recent trends indicate a slight increase, with the ratio standing at 8 students per teacher in 2023. These changes might influence educational quality, potentially attracting families seeking more individualized attention for their children or affecting property values and investment decisions due to perceived educational benefits. Lower ratios could also impact local real estate demand and insurance risk assessments.
