Monroe County Real Estate and Livability Trends
Monroe County, Mississippi's housing market trends reveal a consistent rise in median home values from $79,100 in 2015 to $109,500 in 2022, making it an attractive option for investors seeking affordable markets. The surge in real estate taxes from $1,437.74 in 2012 to $2,480.43 in 2021 suggests increasing property values or heightened budgetary needs. A peak in residential energy tax credits in... Read more
Monroe County Market Trends
Monroe County, Mississippi's housing market has seen a steady rise in median home values, moving from $79,100 in 2015 to $109,500 in 2022, offering an appealing investment opportunity due to its affordability compared to state and national averages. Residential energy tax credits peaked at $1,100.00 in 2018, suggesting increased homeowner investment in energy efficiency, while average real estate... Read more
Median Value of Occupied Housing Units in Monroe County, Mississippi Over the Last 8 Years
Over the last eight years, Monroe County, Mississippi has observed a gradual but consistent rise in median home values, with prices moving from $79,100 in 2015 to $109,500 in 2022. These figures might be compelling for potential investors as Monroe County's market shows steady growth but remains significantly more affordable compared to the state average, which reached $151,000 in 2022, and the national average, which soared to $179,400. The relative affordability and upward trend in home values could make Monroe County an attractive option for those looking to invest, relocate, or develop in the area.
Residential Energy Tax Credit Per Tax Return in Monroe County, MS Over the Last 9 Years
Residential energy tax credits in Monroe County, Mississippi have seen significant fluctuations over the past nine years, with a notable peak in 2018 at $1100.00 per tax return. While the average credit has generally oscillated, recent years show an upward trend, reaching $905.26 in 2021. These variations may suggest shifting homeowner investments in energy-efficient upgrades, which could be relevant for potential investors and property developers. Analyzing these trends offers valuable insights for insurance agents and real estate professionals looking to understand and capitalize on energy-efficient market dynamics in the county.
Average Real Estate Taxes Per Tax Return in Monroe County, MS Over the Last 10 Years
Monroe County, Mississippi shows a significant upward trend in average real estate taxes per tax return over the past decade, increasing from approximately $1,437.74 in 2012 to around $2,480.43 in 2021. This steady rise in real estate taxes suggests a potentially increasing local government budgetary requirement or appreciated property values in the region, making it crucial for potential investors, homeowners, and real estate professionals to consider these factors when engaging with the Monroe County market. The sharp jump observed between 2017 and 2018, where taxes spiked from roughly $1,795.96 to $2,192.59, could indicate a notable policy change or economic event.
Percentage of Farm Returns in Monroe County, MS Over the Last 10 Years
Farm tax returns in Monroe County, Mississippi, have shown a mixed trend over the past decade. Starting from about 4.11% in 2012, there's a slight upward shift reaching approximately 4.60% in 2015, followed by a downward trend to 3.47% in 2020, and finally a minor uptick to 3.60% in 2021. These fluctuations may suggest variability in farm profitability or external economic factors affecting agricultural businesses. For potential investors or those considering moving to Monroe County, it's important to consider these patterns as they could reflect the financial stability and economic health of the agricultural sector in the region.
Number of Mortgages by Occupancy Type in Monroe County, MS Over the Last 5 Years in Monroe County
Over the past five years, Monroe County, Mississippi has seen a notable increase in mortgages for principal residences, peaking at 1423 in 2021. Investment property mortgages have gently declined, dropping to 83 in 2021. Second residence mortgages have remained relatively stable, though they peaked at 22 in both 2021 and 2022. Changes in occupancy type could signal shifts in the local real estate market dynamics, including rising demand for permanent homes. For investors, declining investment property mortgages might hint at diminishing returns or regulatory changes, while builders and real estate agents could find opportunities in catering to those seeking principal residences. Insurance agents and appraisers should consider these trends to accurately assess risk and value, respectively.
Economic Outlook
Monroe County, Mississippi has experienced a consistent increase in average taxable income per tax return, rising from $40,446.13 in 2013 to $52,402.50 by 2021, indicating a potentially growing economy. Interestingly, state and local income taxes peaked in 2018 at $7,778.85 and stabilized at $6,389.36 by 2021, hinting at changes in tax policies or increasing financial demands. Average total tax liability has fluctuated, with a notable rise in 2017 to $6,804.13, suggesting economic shifts that... Read more
Average Taxable Income per Tax Return in Monroe County, MS over the last 9 years
Monroe County, Mississippi has seen a generally upward trend in average taxable income per tax return over the past nine years. Starting at $40,446.13 in 2013, the average increased to $52,402.50 by 2021. Despite some slight fluctuations, such as small drops from 2017 to 2018, the consistent growth could be enticing for potential investors, property developers, and real estate agents. The rise in taxable income implies a potentially growing economy and increased spending power, signaling likely opportunities for new businesses, housing developments, and financial services.
Average State and Local Income Taxes Per Tax Return in Monroe County, MS Over the Last 10 Years
Over the past decade, Monroe County, Mississippi has seen fluctuations in average state and local income taxes per tax return. Notably, there was a significant spike in 2018 when taxes peaked at $7,778.85. Since then, figures have leveled out but remained higher than earlier years, reaching $6,389.36 in 2021. This trend might suggest increasing financial demands or changes in tax policies that potential investors and property developers should consider.
Average Total Tax Liability Per Tax Return in Monroe County, MS Over the Last 10 Years
Over the last decade, Monroe County, Mississippi has seen fluctuations in the average total tax liability per tax return, ranging from around $5,738.66 in 2013 to $6,859.65 in 2021. The year 2017 marked a notable increase to $6,804.13, possibly indicating economic shifts or policy changes during that period. This trend is crucial for potential investors, property developers, and real estate agents as it reflects the economic stability and tax environment of the county. Appraisers and insurance agents may also find this data insightful when assessing property values and risks.
Cost of Living in Monroe County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $932 | $1,335 | $1,877 | $507 | $805 |
| 2 adults 3 children | $932 | $1,091 | $1,646 | $507 | $625 |
| 1 adult 4 children | $932 | $1,090 | $1,400 | $507 | $789 |
| 1 adult 3 children | $932 | $890 | $1,169 | $507 | $593 |
| 2 adults 2 children | $766 | $893 | $1,416 | $447 | $591 |
| 2 adults 1 child | $766 | $706 | $1,185 | $252 | $607 |
| 1 adult 2 children | $766 | $667 | $938 | $447 | $507 |
| 2 adults | $644 | $567 | $955 | $0 | $581 |
| 1 adult 1 child | $766 | $456 | $708 | $252 | $503 |
| 1 adult | $643 | $309 | $477 | $0 | $531 |
Safety trends & Data
Monroe County, Mississippi has seen property crimes fluctuate over the past five years, with Larceny-Theft peaking at 78.00 in 2020, potentially concerning investors and residents. Burglary cases have stabilized around 6.00 to 10.00 annually, highlighting persistent, yet manageable risks. While Embezzlement and Fraud remain low and stable, the diverse crime landscape offers a mixed bag of challenges and opportunities, depending on risk tolerance and focus... Read more
Property Crime Trends in Monroe County, MS Over the Last 5 Years
Monroe County, Mississippi has experienced a fluctuating trend in property crimes over the past five years. Larceny-Theft consistently shows the highest number of occurrences, peaking at 78.0 in 2020, which might concern potential investors or residents. Burglary has somewhat stabilized around 6.0 to 10.0 cases annually, indicating some level of persistent risk. While categories like Embezzlement and Fraud have relatively lower and stable numbers, there is enough variety in crime types to warrant a nuanced look for those in real estate, appraisal, and insurance. This varied crime landscape offers both challenges and opportunities depending on the specific interests and risk tolerance of stakeholders.
Demographics
In Monroe County, Mississippi, slight gender disparity exists with a slightly higher female population in comparison to males. In terms of education, the majority of the adult population have at least graduated from high school, but there's a significant portion with some college experience but no degree. The age distribution shows a fairly even spread across different age groups, though there is a noticeable drop in the population over 75. Racially, the county is predominantly White with a... Read more
Race Distribution in Monroe County, Mississippi (2022)
Educational Attainment in Monroe County, Mississippi (2022)
Age Distribution in Monroe County, Mississippi
Citizen Population in Monroe County, Mississippi (2022)
Political Trends & Data
In Monroe County, Mississippi, voting patterns from the 2020 Presidential Election reveal a significant Republican influence, with nearly 65% support, while Democrats received just over 34%. Minor parties such as the Libertarian and Green parties had minimal impact, collectively securing less than 1% of the vote each. This dominance by the two major parties, especially with Republicans leading, could shape local policies and development priorities, potentially affecting everything from real... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Monroe County, Mississippi, voting patterns from the 2020 Presidential Election suggest a strong leaning towards the Republican party with nearly 65% support, while Democrats garnered just over 34%. Minor parties like the Libertarian and Green parties collectively received less than 1% of the vote each, indicating limited traction among voters. This could imply a political landscape heavily dominated by the two major parties, with Republicans holding a substantial lead.
64.76% of voters voted for the Republican party in the 2020 Presidential Election
34.03% of voters voted for the Democrat party in the 2020 Presidential Election
0.54% of voters voted for the Livertarian party in the 2020 Presidential Election
0.10% of voters voted for the Green party in the 2020 Presidential Election
0.57% of voters voted for the Other party in the 2020 Presidential Election
School Data
Monroe County, Mississippi has seen significant fluctuation in its student-to-teacher ratio over the past decade. This ratio hit a peak of fifteen in 2017, notably above the national average of 14 students per teacher, but has since declined to just over nine in 2023, well below the national benchmark. This shifting trend is noteworthy for investors, parents considering relocation, and educational appraisers as it may signal changes in classroom sizes that affect both educational quality and... Read more
Student-to-teacher ratio in Monroe County, Mississippi over the last 10 years
Over the past decade, the student-to-teacher ratio in Monroe County, Mississippi has shown significant fluctuation. The ratio peaked at fifteen in 2017, notably above the current national average of 14 students per teacher, but has since declined to just over nine in 2023, well below the national benchmark. This trend could matter to potential investors, parents considering relocation, and educational appraisers as it may indicate varying classroom sizes, affecting both the quality of education and resource allocation. Real estate agents might leverage this insight to attract families seeking more personalized educational environments, while insurance agents could consider these changes when assessing educational institution risks and needs within the county.
