Rankin County Real Estate and Livability Trends
Rankin County, Mississippi has seen a steady increase in average taxable income per tax return, rising from $56,474.26 in 2013 to $73,767.79 in 2021, indicating growing wealth and possible economic growth. Median home values peaked at $203,300 in 2022, surpassing both state and national figures, hinting at escalating property values. Notably, the student-to-teacher ratio has dropped to 12.55 in... Read more
Rankin County Market Trends
The median home value in Rankin County, Mississippi peaked at $203,300 in 2022, outpacing both state and national figures. Residential energy tax credits per return peaked at $779.41 in 2018, reflecting possible changes in energy efficiency adoption. Average real estate taxes doubled over the past decade, reaching $3,119.42 in 2021, suggesting escalating property values or changing tax policies.... Read more
Median Value of Occupied Housing Units in Rankin County, Mississippi Over the Last 8 Years
The median home values in Rankin County, Mississippi have seen steady growth over the past eight years, peaking at $203,300 in 2022. This trend significantly outpaces both state-wide figures, where the median value in Mississippi capped at $151,000, and national numbers, which reached $179,400 that same year. For those looking to invest, move to, or build property in Rankin County, the region's housing market appears to be more robust and appreciating faster, potentially offering better long-term value than other parts of the state and even the broader United States.
Residential Energy Tax Credit Per Tax Return in Rankin County, MS Over the Last 9 Years
Over the past nine years, Rankin County, Mississippi has seen notable fluctuations in residential energy tax credits per tax return, starting at approximately $305.41 in 2013 and peaking at around $779.41 in 2018. This suggests several potential factors at play, from varying energy efficiency measures being adopted to changes in tax incentive programs. For investors, builders, and real estate professionals, these variations could indicate evolving homeowner priorities toward energy efficiency, which might impact property values and demand for energy-efficient homes. Additionally, understanding these trends could be crucial for appraisers and insurance agents when assessing property risks and values that are influenced by energy-related upgrades.
Average Real Estate Taxes Per Tax Return in Rankin County, MS Over the Last 10 Years
Average real estate taxes per tax return in Rankin County, Mississippi have nearly doubled over the past decade, with notable increases starting around 2017. By 2021, the average reached approximately $3,119.42, a significant jump from $1,732.38 in 2012. Such a trend could imply escalating property values or changing tax policies, which investment analysts, potential homeowners, and real estate professionals might find critical for future planning.
Percentage of Farm Returns in Rankin County, MS Over the Last 10 Years
Rankin County, Mississippi has seen variability in the percentage of farm tax returns over the last decade, fluctuating from 2.10% in 2012, peaking at around 2.27% in 2018, and sitting at approximately 2.19% in 2021. Farm tax returns generally indicate the portion of total tax filings attributed to agricultural activities, which can suggest the county's agricultural economic health. For investors or property developers, this trend might imply a relatively stable yet potentially growing agricultural sector, which could influence land values, local infrastructure needs, and community planning. This could be an attractive prospect for those looking to capitalize on agricultural opportunities or seeking a rural lifestyle in Mississippi.
Number of Mortgages by Occupancy Type in Rankin County, MS Over the Last 5 Years in Rankin County
Rankin County, Mississippi has seen fluctuations in mortgage counts over the past five years with principal residences consistently dominating, peaking at 11,860 in 2021 before dropping to 7,765 in 2022. Investment properties and second residences show smaller numbers with a gradual increase in investment property mortgages from 437 in 2018 to 573 in 2021, and a slight decline to 546 in 2022. Buyers might be cautious about the second residence market here, given its relatively low and conditionally static numbers. For real estate investors, insurance agents, and appraisers, these shifts could signal evolving priorities and economic conditions, influencing property values and risk assessments. Such data is crucial in decision making, property valuation, and understanding market stability or volatility in Rankin County for different occupancy types.
Economic Outlook
Rankin County, Mississippi has experienced a steady increase in average taxable income per tax return, rising from $56,474.26 in 2013 to $73,767.79 in 2021, signaling growing wealth and economic growth. State and local income taxes per tax return also doubled over the past decade, reflecting shifts in tax policies that might influence financial planning. Total tax liabilities have seen peaks, hitting $10,901 in 2021, suggesting a relatively rising tax burden. Poverty rates have fluctuated but... Read more
Average Taxable Income per Tax Return in Rankin County, MS over the last 9 years
Over the past nine years, Rankin County, Mississippi has shown a noticeable upward trajectory in average taxable income per tax return, climbing from approximately $56,474.26 in 2013 to about $73,767.79 in 2021. This suggests a steady increase in overall wealth and economic growth in the area. Such trends can be compelling for potential investors and property developers looking at the region's economic viability, as well as for real estate agents and insurance agents assessing market growth and risk factors. For those considering moving to Rankin County or already living here, this data may hint at broader economic stability and potential opportunities.
Average State and Local Income Taxes Per Tax Return in Rankin County, MS Over the Last 10 Years
Over the last decade, state and local income taxes per tax return in Rankin County, Mississippi have seen a notable increase, rising from around $4,408.43 in 2012 to approximately $8,300.22 by 2021. The trend reflects a steady growth with a significant jump between 2017 and 2018, suggesting potential shifts in tax policies or economic changes. For investors, potential homeowners, and developers, this upward trajectory in taxes may hint at evolving fiscal dynamics and should be a factor when making financial plans or decisions regarding the area.
Average Total Tax Liability Per Tax Return in Rankin County, MS Over the Last 10 Years
Rankin County, Mississippi has seen notable fluctuations in its average total tax liability per tax return over the past decade, with amounts ranging from approximately $8,450 in 2012 to a steep peak of around $10,901 in 2021. This trend shows incremental increases annually with occasional slight dips, suggesting a generally rising tax burden for residents. For those looking to invest, move, or conduct any form of financial planning in the area, understanding these shifts could be crucial for future tax considerations and overall economic planning.
Cost of Living in Rankin County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,470 | $1,464 | $1,994 | $1,115 | $1,373 |
| 1 adult 4 children | $1,470 | $1,195 | $1,487 | $1,115 | $1,487 |
| 2 adults 3 children | $1,470 | $1,196 | $1,749 | $1,115 | $1,143 |
| 1 adult 3 children | $1,470 | $976 | $1,242 | $1,115 | $1,238 |
| 2 adults 2 children | $1,208 | $979 | $1,504 | $969 | $969 |
| 1 adult 2 children | $1,208 | $731 | $997 | $969 | $961 |
| 2 adults 1 child | $1,208 | $774 | $1,259 | $491 | $906 |
| 1 adult 1 child | $1,208 | $500 | $752 | $491 | $766 |
| 2 adults | $1,036 | $622 | $1,014 | $0 | $768 |
| 1 adult | $1,021 | $339 | $507 | $0 | $687 |
Safety trends & Data
Rankin County, Mississippi, has seen a notable decline in property crime rates over the past five years, with larceny-theft peaking at 186 cases in 2018 and dropping to 101 by 2022. Burglary incidents have also decreased from 52 to 15 arrests during the same period. Embezzlement and fraud cases show a downward trend, indicating potentially improved economic stability and security. However, fluctuations in vandalism and motor vehicle theft cases could impact insurance rates and property... Read more
Property Crime Trends in Rankin County, MS Over the Last 5 Years
Over the last five years, Rankin County, Mississippi has experienced notable fluctuations in property crime trends. Larceny-theft remains the most prevalent with a peak of 186 cases in 2018, declining to 101 cases by 2022. Burglary incidents have seen a consistent drop from 52 arrests in 2018 to just 15 in 2022. Embezzlement and fraud cases also show a downward trend, providing potential insights for investors and real estate professionals regarding the county's improving security and economic stability. However, there is variability in vandalism and motor vehicle theft, which may impact insurance rates and property appraisals.
Demographics
Rankin County, Mississippi shows a slightly higher population of females compared to males. In education, high school graduates and those with some college but no degree constitute a significant portion of the population, which might suggest moderate educational aspirations or barriers to higher education. There's a balanced age distribution, though the 25 to 44-year bracket appears to be the most populous, possibly highlighting the county’s appeal to young professionals and families. The... Read more
Race Distribution in Rankin County, Mississippi (2022)
Educational Attainment in Rankin County, Mississippi (2022)
Age Distribution in Rankin County, Mississippi
Citizen Population in Rankin County, Mississippi (2022)
Political Trends & Data
Rankin County, Mississippi, has a strong conservative presence, with around 72% of voters supporting the Republican candidate in the 2020 presidential election. Democratic voters accounted for roughly 27%, and third-party support was minimal, each securing less than 1%. This conservative leaning could influence local policy decisions and community priorities, potentially impacting real estate dynamics such as demand for suburban development and school district... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Rankin County, Mississippi, likely leans heavily Republican, with approximately 72% of the vote in the 2020 presidential election. Democrats received about 27% of the vote, while minor parties such as the Libertarians and Greens garnered less than 1% each. This suggests a strong conservative base with limited influence from third-party candidates.
72.03% of voters voted for the Republican party in the 2020 Presidential Election
26.67% of voters voted for the Democrat party in the 2020 Presidential Election
0.79% of voters voted for the Livertarian party in the 2020 Presidential Election
0.09% of voters voted for the Green party in the 2020 Presidential Election
0.42% of voters voted for the Other party in the 2020 Presidential Election
School Data
Rankin County, Mississippi, has seen a considerable drop in student-to-teacher ratio, moving from 14.96 in 2014 to 12.55 in 2023. With this ratio well below the national average of 14 students per teacher, there's an implication of enhanced educational quality. This could be a persuasive factor for those considering investment or relocation, as smaller class sizes suggest a keen focus on education and potentially better learning environments. Real estate professionals might find this trend... Read more
Student-to-teacher ratio in Rankin County, Mississippi over the last 10 years
Over the last decade, Rankin County, Mississippi, has experienced a notable decrease in the student-to-teacher ratio, dropping from 14.96 in 2014 to 12.55 in 2023. This shift positions Rankin County well below the current national average of 14 students per teacher, hinting at potential benefits in educational quality due to smaller class sizes. For those looking to invest or relocate, this trend could suggest a stronger focus on education and improved teaching environments. Appraisers, real estate agents, and insurers might also find this trend significant as it could impact property values and desirability.
