Smith County Real Estate and Livability Trends
Smith County, Mississippi, has seen its taxable income per return jump from $44,096.52 in 2013 to $52,841.86 in 2021, hinting at a brightening local economy that could appeal to both investors and new residents. Home values have surged, rising from $79,700 in 2015 to $120,200 in 2022, outpacing state growth but still remaining below the national average. The rise in energy tax credits and real... Read more
Smith County Market Trends
Smith County, Mississippi boasts a substantial increase in median home values, from $79,700 in 2015 to $120,200 in 2022, outperforming the state's growth rate but remaining more affordable than the national average. The significant rise in residential energy tax credits, from $285.71 in 2013 to $1,666.67 in 2021, indicates a growing investment in energy-efficient homes. Additionally, the upward... Read more
Median Value of Occupied Housing Units in Smith County, Mississippi Over the Last 8 Years
Smith County, Mississippi has seen a significant upward trend in median home values over the past eight years, jumping from $79,700 in 2015 to $120,200 in 2022. This local increase outpaces the median value growth in Mississippi, which rose from $103,100 to $151,000 during the same period but still falls below the national average, which soared from $125,500 to $179,400. For investors and potential homeowners, this suggests Smith County is experiencing a healthy appreciation in property values, potentially offering a more affordable but appreciating real estate market when compared to broader state and national trends.
Residential Energy Tax Credit Per Tax Return in Smith County, MS Over the Last 8 Years
Over the past eight years, the average residential energy tax credit per tax return in Smith County, Mississippi has seen a notable increase. Starting at $285.71 in 2013, it rose steadily to around $380.00 by 2015, with a slight dip to $375.00 in 2017. However, a dramatic spike occurred from $375.00 in 2017 to $1,000.00 in 2019 and 2020, ultimately reaching $1,666.67 in 2021. This trend suggests growing investment in energy efficiency among residents, which could indicate a shift towards more energy-efficient homes. For investors, real estate agents, and developers, this upward trend may signify a rising demand for energy-efficient properties, while insurance agents and appraisers could consider these improvements in their evaluations.
Average Real Estate Taxes Per Tax Return in Smith County, MS Over the Last 10 Years
Investors and residents in Smith County, Mississippi, should note the rising trend in real estate taxes over the past decade, with a noticeable spike in 2018 reaching $1,850.00 per tax return. While the number stabilized slightly afterwards, the overall upward trajectory suggests increasing property values or adjustments in tax policies. This trend can impact overall affordability and should be a consideration in long-term financial planning for homeowners, developers, and realtors.
Percentage of Farm Returns in Smith County, MS Over the Last 10 Years
Over the last decade, Smith County, Mississippi, has seen moderate fluctuations in farm return percentages. From 2012 to 2021, the figures have mostly hovered around the 11%-12% mark, with a slight peak at 12.78% in 2018. Farm tax returns in this context reflect the income attributed to farming activities, which is crucial for understanding the agricultural health and economic stability in the area. Such data can offer insights into potential investment opportunities or the viability of starting new agricultural ventures in Smith County.
Number of Mortgages by Occupancy Type in Smith County, MS Over the Last 5 Years in Smith County
In Smith County, Mississippi, mortgage activity over the past five years shows the dominant presence of principal residences, with a noticeable peak in 2021. Investment property mortgages, while lagging behind principal residences, still indicate consistent interest, albeit with slight fluctuations. The relatively small number of second residence mortgages suggests limited market activity in this category. Changes in occupancy type could reflect shifting economic conditions, varying investment strategies, or demographic trends that might impact property values and market stability. This data is crucial for potential investors, insurers, and real estate professionals seeking to understand the nuanced dynamics of Smith County's housing market.
Economic Outlook
Smith County, Mississippi, has witnessed an upward trend in average taxable income per tax return, jumping from $44,096.52 in 2013 to $52,841.86 in 2021. This growth hints at a strengthening local economy, making the area appealing to investors and prospective residents. Additionally, the average state and local income taxes per tax return doubled from $4,293.02 in 2012 to $8,293.33 in 2021, suggesting significant economic or policy shifts. Examining these metrics together, Smith County... Read more
Average Taxable Income per Tax Return in Smith County, MS over the last 9 years
Over the past nine years, Smith County, Mississippi, has seen a general upward trend in the average taxable income per tax return, increasing from $44,096.52 in 2013 to a notable $52,841.86 in 2021. Periodic fluctuations occurred, but the overall growth suggests a potentially strengthening local economy. This pattern could be of interest to investors, prospective residents, appraisers, and real estate agents, indicating economic stability and possibly a promising area for new developments or long-term investments.
Average State and Local Income Taxes Per Tax Return in Smith County, MS Over the Last 10 Years
Over the last decade, Smith County, Mississippi, has seen varied shifts in average state and local income taxes per tax return, with a general upward trend from $4,293.02 in 2012 to $8,293.33 in 2021. Noteworthy spikes occurred in 2018 and 2019, peaking at $7,270.00, likely indicating economic or policy changes impacting taxpayers. These fluctuations can be crucial for potential investors and residents to consider, as they reflect the dynamic fiscal landscape and its impact on disposable income.
Average Total Tax Liability Per Tax Return in Smith County, MS Over the Last 10 Years
Smith County, Mississippi has experienced a notable rise in the average total tax liability per tax return over the past decade. In 2012, the figure was $5553.90, but by 2021, it had grown to $7047.37, indicating a general upward trend with slight fluctuations. This steady increase may signal improving incomes or changing tax rates, making Smith County an interesting case for potential investors, property developers, and real estate agents aiming to understand economic growth and its impacts on local financial obligations.
Cost of Living in Smith County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $932 | $1,331 | $1,877 | $529 | $825 |
| 1 adult 4 children | $932 | $1,087 | $1,400 | $529 | $848 |
| 2 adults 3 children | $932 | $1,087 | $1,646 | $529 | $664 |
| 1 adult 3 children | $932 | $888 | $1,169 | $529 | $646 |
| 2 adults 2 children | $766 | $890 | $1,416 | $460 | $624 |
| 2 adults 1 child | $766 | $704 | $1,185 | $235 | $637 |
| 1 adult 2 children | $766 | $665 | $938 | $460 | $542 |
| 2 adults | $674 | $565 | $955 | $0 | $620 |
| 1 adult 1 child | $766 | $454 | $708 | $235 | $534 |
| 1 adult | $643 | $308 | $477 | $0 | $560 |
Demographics
Smith County, Mississippi has a slight female majority in its adult population, and the local educational attainment reveals significant numbers finishing high school but fewer advancing beyond college degrees. Age distribution primarily spans across the older working-age groups, with a notable concentration in the categories of 45 to 64 years. Racially, the county is predominantly White, with Black or African American residents making up the largest minority group. The data underscores a... Read more
Race Distribution in Smith County, Mississippi (2022)
Educational Attainment in Smith County, Mississippi (2022)
Age Distribution in Smith County, Mississippi
Citizen Population in Smith County, Mississippi (2022)
Political Trends & Data
Smith County, Mississippi leans predominantly Republican, with Republicans potentially securing about 77.6% of the vote in the 2020 U.S. Presidential Election. Democrats likely captured roughly 21.5%, showcasing a substantial gap between the major parties. Third-party candidates, like Libertarian and Green Party candidates, received nominal support, each around 0.4% and less than 0.1%, respectively. The minimal presence in the "Other" category, estimated at 0.5%, may reflect broader political... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Smith County, Mississippi leans heavily Republican in the 2020 U.S. Presidential Election, with Republicans possibly securing about 77.6% of the vote. Democrats may have garnered approximately 21.5%, indicating a significant gap between the major parties. Third-party candidates, including Libertarian and Green Party candidates, received minimal support, potentially around 0.4% and less than 0.1%, respectively. The "Other" category also showed a negligible presence at around 0.5%. This distribution could reflect broader regional political trends, especially in more rural or traditionally conservative areas.
77.55% of voters voted for the Republican party in the 2020 Presidential Election
21.51% of voters voted for the Democrat party in the 2020 Presidential Election
0.40% 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
0.47% of voters voted for the Other party in the 2020 Presidential Election
School Data
Smith County, Mississippi's student-to-teacher ratio has fluctuated over the past decade, peaking at nearly 16 in 2018 before settling at 11.3 recently. This lower ratio compared to the national average of 14 suggests smaller class sizes and potentially more individualized attention for students. For real estate investors, this trend hints at a community possibly prioritizing educational infrastructure, an attractive factor for homebuyers who value quality... Read more
Student-to-teacher ratio in Smith County, Mississippi over the last 10 years
Smith County, Mississippi has seen a fluctuating student-to-teacher ratio over the past decade, peaking at nearly 16 in 2018 before falling back to just over 11 in recent years. While the current ratio of 11.3 students per teacher is below the national average of 14, this indicates smaller class sizes and potentially more individualized attention for students, which could be appealing to families and educational investors. For real estate agents and appraisers, this trend suggests a community perhaps focused on investing in its educational infrastructure, an appealing factor for prospective homebuyers prioritizing quality education.
