Franklin County Real Estate and Livability Trends
Franklin County, Mississippi shows potential signs of economic growth, reflected in the steadily increasing average taxable income from $43,463.44 in 2013 to $49,843.04 by 2021. This could suggest upward property values but is counterbalanced by rising state and local taxes, which have soared from $3,987.50 in 2012 to $6,200.00 in 2021, possibly impacting financial decisions for investors and... Read more
Franklin County Market Trends
Over the past eight years, median home values in Franklin County, Mississippi have climbed from $73,200 to $96,200, positioning it as a potentially more affordable market compared to state and national trends. Fluctuations in residential energy tax credits, peaking at $366.67 in 2019, highlight varying homeowner investment in energy-efficient improvements, influencing potential energy savings for... Read more
Median Value of Occupied Housing Units in Franklin County, Mississippi Over the Last 8 Years
Over the past eight years, median home values in Franklin County, Mississippi have increased from $73,200 in 2015 to $96,200 in 2022. This growth, although steady, trails behind the state's median, where values rose from $103,100 in 2015 to $151,000 in 2022. Nationally, the trend is even more pronounced, with median values climbing from $125,500 to $179,400 over the same period. This suggests that Franklin County could potentially offer more affordable property investment opportunities compared to broader regional and national markets. These comparative figures might appeal to those looking to invest or buy in a more cost-effective area, while the slower rate of increase could imply less competitive pressures and greater market stability.
Residential Energy Tax Credit Per Tax Return in Franklin County, MS Over the Last 8 Years
Franklin County, Mississippi has seen fluctuations in the average residential energy tax credit per tax return over the past eight years, with values ranging from $254.55 in 2015 to $366.67 in 2019. The noticeable dip in 2015 contrasts with a significant peak in 2019, suggesting variable investment or participation in energy-efficient improvements by homeowners. This trend can influence potential investors, real estate agents, and insurance agents, highlighting periods of increased energy-conscious renovations or upgrades in the area. For those planning to move or build property in Franklin County, understanding these trends could provide insight into potential energy savings and eligibility for tax incentives.
Average Real Estate Taxes Per Tax Return in Franklin County, MS Over the Last 10 Years
Franklin County, Mississippi has experienced fluctuating real estate tax values over the last decade, with a noticeable upward trend starting from around $985.19 in 2012 to a peak of approximately $1842.86 by 2021. This increase might reflect growing property values or adjustments in tax rates, presenting potential considerations for those investing in or insuring properties in the area. The most substantial jump occurred between 2017 and 2018, where taxes increased by roughly 47.4%, possibly due to significant changes in local property assessments or a response to broader economic conditions. This trend could indicate a more active real estate market or increasing demands on local public resources, both of which could be crucial for appraisers, real estate agents, and prospective buyers to monitor.
Percentage of Farm Returns in Franklin County, MS Over the Last 10 Years
Over the last ten years, Franklin County, Mississippi has seen fluctuating percentages in farm tax returns, peaking at 10.39% in 2018 and dipping as low as 8.02% in 2013. Farm tax returns generally reflect the agricultural economic health of the region, indicating how robust or challenged farming operations are in a given year. These percentages hint at how fertile investment opportunities in agriculture might be and suggest trends for potential land development projects. For those considering moving to or investing in Franklin County, understanding these fluctuations could provide essential insights into the local agricultural economy's resilience and growth potential. In 2021, the returns hovered around 9.94%, suggesting a relatively stable agricultural environment in recent years.
Number of Mortgages by Occupancy Type in Franklin County, MS Over the Last 5 Years in Franklin County
Franklin County, Mississippi has seen notable variations in mortgage counts by occupancy type over the last five years. The dominant category has consistently been principal residences, peaking at 227 in 2021, signaling strong home-buying activity for personal use. Meanwhile, investment property mortgages have remained low, especially in 2020 and 2022, indicating less speculative real estate activity. Second residence mortgages have generally been minimal, suggesting limited demand for vacation or secondary homes. These trends matter because higher mortgage counts for principal residences might reflect a stable or growing local economy and population, which is appealing for investors, real estate agents, and builders. Conversely, the low interest in investment and second properties could imply that the area is less attractive for investment opportunities or luxury living, impacting decisions for potential investors and insurance risk assessments.
Economic Outlook
Franklin County, Mississippi has experienced a gradual increase in average taxable income, rising from $43,463.44 in 2013 to roughly $49,843.04 by 2021. This trend hints at potential economic growth or shifts in local income levels, which could positively influence property values. Meanwhile, average state and local income taxes have climbed from $3,987.50 in 2012 to $6,200.00 in 2021, with notable peaks like $6,630.00 in 2018, suggesting evolving tax policies or economic conditions. These... Read more
Average Taxable Income per Tax Return in Franklin County, MS over the last 9 years
Over the past nine years, Franklin County, Mississippi has seen a gradual increase in average taxable income per tax return, rising from $43,463.44 in 2013 to around $49,843.04 in 2021. This general upward trend, despite some fluctuations, suggests possible economic growth or changes in local income levels. It's worth noting for investors, real estate agents, and appraisers that this steady rise in taxable income could indicate a healthier economic environment, potentially boosting property values and overall living standards.
Average State and Local Income Taxes Per Tax Return in Franklin County, MS Over the Last 10 Years
Over the past decade, Franklin County, Mississippi has seen a notable increase in average state and local income taxes per tax return, growing from $3,987.50 in 2012 to $6,200.00 by 2021. Noteworthy peaks include 2018 where the average spiked to $6,630.00, suggesting possible shifts in tax policy or economic conditions. This upward trend indicates a gradually increasing tax burden, which could impact the financial planning for potential investors and residents alike. Those considering property development may want to factor in these evolving tax dynamics to ensure comprehensive financial forecasting.
Average Total Tax Liability Per Tax Return in Franklin County, MS Over the Last 10 Years
Over the past decade, Franklin County, Mississippi has seen some fluctuations in average total tax liability per tax return. Starting at $5,521.33 in 2012 and rising to a peak of $6,955.40 in 2016, there was a noticeable dip to $5,872.60 in 2020. The most recent data for 2021 shows a slight rebound to $6,373.84. These trends may indicate economic ebbs and flows that could impact investment decisions, property values, and overall financial considerations for individuals and businesses looking to engage with the county.
Cost of Living in Franklin County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,037 | $1,343 | $1,877 | $468 | $875 |
| 1 adult 4 children | $1,037 | $1,097 | $1,400 | $468 | $920 |
| 2 adults 3 children | $1,037 | $1,097 | $1,646 | $468 | $713 |
| 1 adult 3 children | $1,037 | $896 | $1,169 | $468 | $680 |
| 2 adults 2 children | $766 | $898 | $1,416 | $412 | $620 |
| 2 adults 1 child | $766 | $710 | $1,185 | $233 | $633 |
| 1 adult 2 children | $766 | $671 | $938 | $412 | $535 |
| 2 adults | $678 | $570 | $955 | $0 | $615 |
| 1 adult 1 child | $766 | $459 | $708 | $233 | $527 |
| 1 adult | $643 | $311 | $477 | $0 | $548 |
Demographics
Franklin County, Mississippi, shows a fairly balanced gender ratio with slightly more females. Educationally, a significant portion of adults attain at least a high school diploma, with a notable number advancing to some college or higher degrees. Age distribution points to a predominantly adult population, especially in the 35-64 age range, suggesting a mature community with a potential focus on mid-life economic and social needs. Racially, the county is primarily White, with Black or African... Read more
Race Distribution in Franklin County, Mississippi (2022)
Educational Attainment in Franklin County, Mississippi (2022)
Age Distribution in Franklin County, Mississippi
Citizen Population in Franklin County, Mississippi (2022)
Political Trends & Data
In Franklin County, Mississippi, the 2020 Presidential Election results highlight a significant Republican leaning, with the party capturing approximately 66% of the vote. The Democrats held around 33%, while minor parties barely made a mark, each staying under 1%. This political landscape might influence local policy priorities and campaign strategies in subsequent... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Franklin County, Mississippi, the 2020 U.S. Presidential Election results suggest a strong leaning towards the Republican party, capturing around 66% of the vote. The Democratic party followed, securing roughly 33%. Minor parties like the Libertarian and Green parties, alongside other candidates, garnered only a small fraction of the votes, with none reaching even 1%. This distribution might underline the county's potential political inclination and could shape local policy discussions and candidate focus in future elections.
65.52% of voters voted for the Republican party in the 2020 Presidential Election
33.18% of voters voted for the Democrat party in the 2020 Presidential Election
0.47% of voters voted for the Livertarian party in the 2020 Presidential Election
0.07% of voters voted for the Green party in the 2020 Presidential Election
0.76% of voters voted for the Other party in the 2020 Presidential Election
School Data
Franklin County, Mississippi has seen its student-to-teacher ratio decrease from a peak of 15 students per teacher between 2016 and 2018 to around 10 students in recent years. This shift may appeal to families seeking smaller class sizes and could be leveraged by real estate agents to market homes in the area. With a current ratio significantly lower than the national average of 14 students per teacher, the local education environment might offer a more personalized experience, which could... Read more
Student-to-teacher ratio in Franklin County, Mississippi over the last 10 years
Franklin County, Mississippi has seen notable changes in its student-to-teacher ratio over the past decade. The ratio peaked between 2016 and 2018, with a high of 15 students per teacher, but has since decreased to around 10 students per teacher in recent years. This decline could indicate smaller class sizes, which may appeal to families looking to move to the area and investors considering educational contributions. Real estate agents might leverage this trend when promoting local properties, and insurance agents, appraisors, and developers could find value in understanding the potential impacts on community demographics and housing demands. Comparatively, the current ratio in Franklin County is significantly lower than the national average of 14 students per teacher, potentially suggesting a more personalized educational environment.
