Panola County Real Estate and Livability Trends
Panola County, Mississippi's real estate scene is getting buzzworthy with the average taxable income rising from around $37,828.00 in 2013 to $48,180.00 by 2021. Home values have climbed from $77,900.00 in 2015 to $115,800.00 in 2022, attracting attention due to the lower than average costs compared to state and national figures. The region's property tax liability also went up, hitting about... Read more
Panola County Market Trends
Panola County, Mississippi's median home values have surged from $77,900 in 2015 to $115,800 in 2022, indicating a significant uptick that contrasts with the lower statewide median of $151,000 and the national median of $179,400. This suggests potential growth opportunities in a more affordable market. The average residential energy tax credit here shows considerable volatility, peaking at... Read more
Median Value of Occupied Housing Units in Panola County, Mississippi Over the Last 8 Years
For those looking to invest in or move to Panola County, Mississippi, the trend in median home values over the past eight years has been intriguing. The county experienced a sharp increase in home values from $77,900 in 2015 to $115,800 in 2022. This rise is particularly stark in recent years, with a boost from $90,800 in 2021 to $115,800 in 2022. Compared to the statewide figures, which grew from $103,100 in 2015 to $151,000 in 2022, Panola County remains more affordable but shows a substantial upward trajectory. On a national level, Panola County's 2022 home values are still below the U.S. median of $179,400, presenting potential for growth and investment opportunity.
Residential Energy Tax Credit Per Tax Return in Panola County, MS Over the Last 9 Years
Over the last nine years, the average residential energy tax credit per tax return in Panola County, Mississippi, appears to show considerable volatility, with a notable peak in 2018 at $1,108.33. This variability might suggest fluctuating household investments in energy-efficient improvements, potentially influenced by state or federal incentives. Such trends could be significant for those looking to invest in property here, as well as appraisers and insurance agents assessing the long-term value and sustainability of real estate in the county.
Average Real Estate Taxes Per Tax Return in Panola County, MS Over the Last 10 Years
Real estate taxes per tax return in Panola County, Mississippi have generally trended upward over the past decade, starting at $1,604.59 in 2012 and increasing to $2,381.25 by 2021. This information could suggest escalating property values or rising tax rates, which might be relevant for potential investors, homeowners, and financial professionals assessing the long-term cost implications of living or doing business in the area. Notable surges, such as the jump between 2016's $1,883.96 and 2018’s $2,359.32, indicate periods of significant financial change that could impact decision-making.
Percentage of Farm Returns in Panola County, MS Over the Last 10 Years
The trend in farm tax returns in Panola County, Mississippi, over the past decade indicates a gradual decline from 3.67% in 2012 to roughly 3.25% in 2021. Farm tax returns often reflect the agricultural activity and economic health of the farming sector in the area. This slight but steady drop might suggest subtle changes in farming practices, economic pressures, or shifts in land usage. Investors, property developers, and residents might want to consider these trends when making decisions about agricultural investments or understanding the local economy better.
Number of Mortgages by Occupancy Type in Panola County, MS Over the Last 5 Years in Panola County
In Panola County, Mississippi, the trend in mortgage counts over the past five years shows a significant focus on principal residences, which have consistently represented the majority of new mortgages, with their numbers peaking in 2021 at 1,452 from 891 in 2018. Investment properties have seen a slight decrease from 77 in 2018 to 69 in 2022, while second residences have remained fairly steady, fluctuating slightly around 22-23 mortgages each year. Changes in occupancy type are particularly relevant as they can indicate shifts in demand for housing, investment preferences, and economic stability. For investors and real estate agents, understanding these trends is crucial for making informed decisions about property development and market opportunities. For appraisers and insurance agents, knowing the predominant types of occupancy can affect property valuations and risk assessments, tailoring their services more effectively to the region's housing dynamics.
Economic Outlook
Panola County, Mississippi's real estate market may look appealing due to a gradual rise in average taxable income, growing from roughly $37,827.65 in 2013 to $48,179.72 in 2021. Notable income spikes in 2018 and 2021 suggest economic activities or policy changes that investors, property developers, and real estate agents might find worth exploring. However, fluctuating state and local income taxes peaking at $6,461.70 in 2020 could influence the financial landscape for potential residents and... Read more
Average Taxable Income per Tax Return in Panola County, MS over the last 9 years
Panola County, Mississippi has experienced a gradual increase in average taxable income per tax return over the past nine years. From 2013’s approximate $37,827.65 to 2021’s $48,179.72, this trend might suggest an improving local economy, which could be appealing to investors, property builders, and real estate agents. Notable increases in 2018 and 2021 hint at possible economic events or policy changes affecting the area, which insurance agents or appraisers might find pertinent. Current residents and prospective movers may find this data encouraging, indicating potential for personal financial growth.
Average State and Local Income Taxes Per Tax Return in Panola County, MS Over the Last 10 Years
Over the past decade, Panola County, Mississippi has seen a noticeable fluctuation in average state and local income taxes per tax return. Taxes have generally trended upward, peaking in 2020 at $6,461.70 after a significant rise starting around 2018. This higher tax burden could influence decisions for those considering moving their residence or investing locally, as tax rates can impact overall cost of living and business expenses. Potential homeowners and developers might weigh these trends when assessing the financial landscape of the county.
Average Total Tax Liability Per Tax Return in Panola County, MS Over the Last 10 Years
Over the last decade, Panola County, Mississippi, has experienced fluctuations in its average total tax liability per tax return, generally trending upwards. While the 2012 average stood at around $6,200.12, there was a notable increase to approximately $7,065.71 by 2021. This pattern may indicate a rising tax burden on residents, which is crucial for potential investors, property builders, and real estate agents to monitor. Such trends can impact the overall cost of living and could serve as a barometer for the county's economic health or changing demographics.
Cost of Living in Panola County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,038 | $1,408 | $1,877 | $534 | $858 |
| 1 adult 4 children | $1,038 | $1,149 | $1,400 | $534 | $888 |
| 2 adults 3 children | $1,038 | $1,150 | $1,646 | $534 | $693 |
| 1 adult 3 children | $1,038 | $939 | $1,169 | $534 | $676 |
| 2 adults 2 children | $788 | $941 | $1,416 | $472 | $618 |
| 2 adults 1 child | $788 | $744 | $1,185 | $267 | $633 |
| 1 adult 2 children | $788 | $703 | $938 | $472 | $530 |
| 1 adult 1 child | $788 | $481 | $708 | $267 | $525 |
| 2 adults | $629 | $598 | $955 | $0 | $586 |
| 1 adult | $625 | $326 | $477 | $0 | $533 |
Safety trends & Data
Property crime trends in Panola County, Mississippi, highlight significant variability, with a marked decline in larceny-theft cases from 143 in 2018 to 52 in 2022. Burglary and vandalism incidents have fluctuated but generally remained lower compared to 2018. Embezzlement rates peaked at 13 cases in both 2018 and 2022, while fraud instances lack a clear pattern. These shifting crime dynamics could reflect changes in law enforcement priorities or economic conditions, making it crucial for... Read more
Property Crime Trends in Panola County, MS Over the Last 5 Years
Property crime trends in Panola County, Mississippi, show significant variability over the last five years, with a steady decline in larceny-theft cases, dropping from 143 in 2018 to 52 in 2022. Meanwhile, incidents of burglary and vandalism have fluctuated but generally remained lower compared to 2018. Notably, embezzlement rates have seen modest changes, peaking at 13 cases in both 2018 and 2022, while fraud instances seem to vary with no clear pattern. This diverse crime data may indicate shifting law enforcement priorities or economic conditions affecting property crime rates, making it crucial for investors, real estate agents, and residents to stay informed.
Demographics
Panola County, Mississippi's adult population trends indicate a slight majority of females over males, reflecting perhaps broader societal trends in gender demographics. Educational attainment is quite varied, yet a significant portion of the population has only completed high school or some college, implying potential for programs aimed at higher education and vocational training. Age distribution skews towards younger demographics, with notable peaks in the under 10-years and 25-to-34-years... Read more
Race Distribution in Panola County, Mississippi (2022)
Educational Attainment in Panola County, Mississippi (2022)
Age Distribution in Panola County, Mississippi
Citizen Population in Panola County, Mississippi (2022)
Political Trends & Data
Panola County, Mississippi, experienced a relatively tight race in the 2020 Presidential Election, with Republicans slightly ahead at 51.6% and Democrats close behind at 47.4%. Minor parties like the Libertarian and Green parties collectively held a small slice of the vote, pointing to a primarily bipartisan voter base. This trend could suggest a closely divided electorate, possibly signaling broader regional or national political... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Panola County, Mississippi, saw a relatively competitive race in the 2020 U.S. Presidential Election, with the Republican party narrowly leading at approximately 51.6% of the vote while Democrats garnered around 47.4%. Minor parties like the Libertarian and Green parties, along with other affiliations, collectively made up a small minority of the votes, hinting at a primarily bipartisan voter base. This trend could indicate a closely divided electorate, reflective of broader regional or national political splits.
51.58% of voters voted for the Republican party in the 2020 Presidential Election
47.37% of voters voted for the Democrat party in the 2020 Presidential Election
0.31% 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
0.67% of voters voted for the Other party in the 2020 Presidential Election
School Data
Panola County, Mississippi, has seen its student-to-teacher ratio drop from roughly 15 in 2016 to just over 12 by 2023, signifying a trend towards smaller class sizes. For families eyeing a move, this could lead to increased demand for local housing due to the potential for more individualized attention in schools. Real estate agents and appraisers might use this metric to underscore the area's educational quality. Similarly, insurance agents could evaluate community risk profiles in this... Read more
Student-to-teacher ratio in Panola County, Mississippi over the last 10 years
Panola County, Mississippi, has seen its student-to-teacher ratio fluctuate over the past decade, peaking in 2016 at roughly 15 before gradually declining to just over 12 by 2023. This trend towards smaller class sizes could have several implications for the area. For families considering a move, a lower student-to-teacher ratio might indicate more individualized attention for students, potentially driving demand for local housing. Real estate agents and appraisers could leverage this metric to highlight educational quality. Similarly, insurance agents might consider these stats when evaluating community risk profiles, as education quality can sometimes correlate with other socioeconomic factors. For those investing in or building property, understanding these shifts can provide insight into future population trends and needs. Generally, this compares favorably to the national average of 14 students per teacher, suggesting a competitive edge for Panola County's educational system.
