Madison County Real Estate and Livability Trends
Madison County, Mississippi is experiencing significant economic growth, with average taxable income rising sharply from $77,209.09 in 2013 to $108,300.29 by 2021. This economic upswing has paralleled a notable increase in the median home values to $264,700 in 2022, far outpacing both state and national medians. Residential energy tax credits peaked in 2018, indicating a growing homeowner... Read more
Madison County Market Trends
Median home values in Madison County, Mississippi have steadily risen, hitting $264,700 in 2022—well above the state's median of $151,000 and the national median of $179,400. This noteworthy growth signals strong demand and potential investment opportunities. Residential energy tax credits have fluctuated but peaked at around $643.18 in 2018, suggesting increased homeowner interest in... Read more
Median Value of Occupied Housing Units in Madison County, Mississippi Over the Last 8 Years
Over the past eight years, median home values in Madison County, Mississippi have experienced a steady increase, culminating in a sharp rise to $264,700 in 2022, significantly outpacing both statewide and national trends. This growth, especially notable compared to Mississippi's state-wide median of $151,000 and the U.S. median of $179,400 for the same year, suggests a potentially lucrative investment opportunity for those looking to buy or build property in this area. The continued upward trend may indicate increasing demand and desirability, making it a key area of interest for future homeowners and investors alike.
Residential Energy Tax Credit Per Tax Return in Madison County, MS Over the Last 9 Years
Madison County, Mississippi has witnessed a fluctuation in residential energy tax credits per tax return over the past nine years, starting at approximately $344.05 in 2013 and peaking at around $643.18 in 2018. By 2021, the average had settled at about $548.48. This trend might suggest an increasing awareness or legislative encouragement for energy-efficient upgrades among homeowners, an appealing factor for potential investors, property developers, and real estate agents, as it could enhance property values and attractiveness. For insurance agents and appraisers, the evolving landscape in energy credits can impact assessments and policy considerations.
Average Real Estate Taxes Per Tax Return in Madison County, MS Over the Last 10 Years
Madison County, Mississippi has seen a notable upward trend in average real estate taxes per tax return over the past decade, jumping from approximately $2,683.29 in 2012 to around $4,290.08 by 2021. This steady increase suggests rising property values and potentially higher local government revenues, which could be indicative of improved infrastructure and services. Such trends could impact investors assessing the area’s growth potential, prospective residents evaluating cost of living, and real estate agents advising buyers on future tax liabilities.
Percentage of Farm Returns in Madison County, MS Over the Last 10 Years
Over the past decade, Madison County, Mississippi has seen a relatively steady percentage of farm tax returns, fluctuating slightly around the 2.30% to 2.41% range. Notably, there was a minor dip to 2.17% in 2017, but it has generally remained stable, rebounding to about 2.41% by 2021. Farm tax returns can be an indicator of the agricultural activity and economic health of rural areas, showing the engagement and productivity of local farming businesses. This stability might suggest a resilient agricultural sector in Madison County despite broader economic fluctuations, which could be attractive for those considering investments or moves to a dependable rural economy. Buyers and builders might view this trend as a positive sign that farming operations are sustained, perhaps offering long-term stability for property values and community investments.
Number of Mortgages by Occupancy Type in Madison County, MS Over the Last 5 Years in Madison County
Trends in Madison County, Mississippi, highlight a fluctuating yet strong dominance of mortgages for principal residences, with numbers reaching up to 9,534 in 2020 and dropping to 5,649 in 2022. Investment property mortgages exhibit a steadier, lower volume, ranging from 279 to 400 over the five-year period, demonstrating a consistent interest in capitalizing on rental and resale opportunities. Second residence mortgages remain the lowest, barely surpassing 100 in peak years, potentially signaling limited demand for vacation homes in the area. These shifts in occupancy types can significantly impact decisions for investors, real estate agents, and developers as they navigate market demands, risk assessments, and pricing strategies. Understanding these trends helps frame the local real estate climate, influencing growth projections and investment returns.
Economic Outlook
Madison County, Mississippi has been witnessing an upswing in average taxable income, climbing from $77,209.09 in 2013 to $108,300.29 by 2021. This trend indicates potential economic growth, suggests higher property values, and could be attractive to investors and new residents. Average state and local income taxes have also surged from $7,313.70 in 2012 to $14,201.94 in 2021, particularly between 2017 and 2018, implying rising incomes but also higher living costs. Additionally, the average... Read more
Average Taxable Income per Tax Return in Madison County, MS over the last 9 years
Madison County, Mississippi has seen a notable upswing in its average taxable income per tax return, rising from around $77,209.09 in 2013 to approximately $108,300.29 by 2021. This increase in income could indicate a growing economy and potential higher property values, making it attractive for investors, real estate agents, and new residents. The steady rise, despite occasional fluctuations, suggests a resilient economic environment. This trend may influence appraisals and insurance considerations, as higher incomes often correlate with greater demand for quality housing and amenities.
Average State and Local Income Taxes Per Tax Return in Madison County, MS Over the Last 10 Years
Madison County, Mississippi, has seen a notable increase in average state and local income taxes per tax return over the past decade. In 2012, the average tax return was around $7,313.70, but by 2021, it had surged to $14,201.94. Particularly between 2017 and 2018, there was a significant jump from $8,305.56 to $11,077.18, continuing to rise sharply through 2019 and 2020. This upward trend may imply rising incomes and economic growth but also suggests higher living costs. Potential investors, movers, and property developers might see this as both an opportunity for market potential and a consideration for financial planning.
Average Total Tax Liability Per Tax Return in Madison County, MS Over the Last 10 Years
Madison County, Mississippi has seen a noticeable upward trend in average total tax liability per tax return over the last decade. Starting at around $16,847.26 in 2012, it has risen to approximately $22,782.21 by 2021. This increase could reflect higher income levels, changes in tax legislation, or shifting demographics. Investors and real estate professionals might find this trend indicative of a robust and possibly growing local economy, albeit with rising tax burdens that could impact disposable income. This information could be crucial for appraisers and insurance agents as it may correlate with property values and insurance risks.
Cost of Living in Madison County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,285 | $1,508 | $1,994 | $1,132 | $1,296 |
| 1 adult 4 children | $1,285 | $1,232 | $1,487 | $1,132 | $1,394 |
| 2 adults 3 children | $1,285 | $1,232 | $1,749 | $1,132 | $1,066 |
| 1 adult 3 children | $1,285 | $1,006 | $1,242 | $1,132 | $1,144 |
| 2 adults 2 children | $1,055 | $1,008 | $1,504 | $983 | $920 |
| 1 adult 2 children | $1,055 | $753 | $997 | $983 | $889 |
| 2 adults 1 child | $1,055 | $797 | $1,259 | $499 | $854 |
| 1 adult 1 child | $1,055 | $515 | $752 | $499 | $712 |
| 2 adults | $905 | $640 | $1,014 | $0 | $721 |
| 1 adult | $892 | $349 | $507 | $0 | $641 |
Safety trends & Data
Madison County, Mississippi, exhibits intriguing trends in property crime that are significant for real estate stakeholders. Burglary instances have fallen remarkably from 64 in 2018 to 30 in 2022, indicating potential improvements in security measures or policing. Larceny-theft spiked in 2019 and 2020, peaking at 389, before a sharp decline to 212 in 2021, with a minor uptick to 235 in 2022. Motor vehicle theft saw a dramatic rise in 2020 to 24, then fell to 9 by 2022. Though fraud-related... Read more
Property Crime Trends in Madison County, MS Over the Last 5 Years
Madison County, Mississippi has seen notable fluctuations in property crime over the last five years. Burglary rates have generally declined from 64 in 2018 to 30 in 2022, suggesting enhanced security measures or law enforcement strategies. Conversely, larceny-theft saw highs in 2019 and 2020, peaking at 389, before dropping significantly in 2021 to 212, then slightly rising to 235 in 2022. Motor vehicle theft values rose sharply in 2020 to 24 but decreased to 9 by 2022. Fraud-related crimes have been somewhat stable but exhibit a slight downward trend. Embezzlement peaked in 2019 at 56 and dipped considerably to 9 in 2021. Vandalism and stolen property cases fluctuate year over year, with vandalism increasing to 24 in 2021. These insights are crucial for decision-makers including real estate investors, appraisers, and insurance agents, highlighting the need for continued vigilance and investment in crime prevention and security infrastructure.
Demographics
In Madison County, Mississippi, the adult population is reasonably balanced, though slightly skewed with more females than males. The residents show a strong inclination towards higher education, with a substantial portion having attained bachelor's degrees or higher. The age distribution reveals a significant concentration of individuals in the working-age range, particularly from 25 to 64 years. Racially, the area is predominantly White, followed by a notable Black or African American... Read more
Race Distribution in Madison County, Mississippi (2022)
Educational Attainment in Madison County, Mississippi (2022)
Age Distribution in Madison County, Mississippi
Citizen Population in Madison County, Mississippi (2022)
Political Trends & Data
Madison County, Mississippi, exhibited a leaning toward the Republican party with around 55.00% of the vote in the 2020 U.S. Presidential Election, while the Democrat party garnered approximately 43.00%. Smaller parties like the Libertarian and Green parties captured a notably minor portion of the vote share, reflecting a predominant two-party preference in the region. This trend could suggest a strong inclination toward traditional party politics among the electorate in Madison... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Madison County, Mississippi, exhibited a leaning toward the Republican party with around 55% of the vote in the 2020 U.S. Presidential Election, while the Democrat party garnered approximately 43%. Smaller parties like the Libertarian and Green parties captured a notably minor portion of the vote share, reflecting a predominant two-party preference in the region. This trend could suggest a strong inclination toward traditional party politics among the electorate in Madison County.
55.31% of voters voted for the Republican party in the 2020 Presidential Election
43.48% of voters voted for the Democrat party in the 2020 Presidential Election
0.62% 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
0.51% of voters voted for the Other party in the 2020 Presidential Election
School Data
Madison County, Mississippi, has seen student-to-teacher ratios drop from a peak of 17:1 in 2016 to 11:1 in 2023. This significant decline, now below the national average, may make the area particularly attractive to families seeking a more personalized education experience. Real estate agents, investors, and developers might view this as a strong selling point or investment factor since it suggests a community dedicated to improving its educational... Read more
Student-to-teacher ratio in Madison County, Mississippi over the last 10 years
Over the past decade, Madison County, Mississippi, has seen fluctuating student-to-teacher ratios, peaking at 17 students per teacher in 2016 and gradually declining to 11 in 2023. This trend, now below the national average of 14 students per teacher, may be attractive to families prioritizing personalized education. Real estate agents might highlight these ratios when marketing to prospective buyers, while investors, appraisers, and insurance agents could consider this as a factor in supporting community growth and property values. Developers and those looking to build property in the area might also see potential in a community investing in reducing classroom sizes.
