Wayne County Real Estate and Livability Trends
Wayne County, Mississippi's real estate market shows notable trends, particularly in its fluctuating taxable income and tax liabilities, suggesting a dynamic economic landscape. Median home values peaked at $89,100 in 2022, considerably lower than the state and national averages. Increased residential energy tax credits hint at a growing focus on energy-efficient properties. Additionally, real... Read more
Wayne County Market Trends
Wayne County, Mississippi's median home values peaked in 2022 at $89,100, reflecting a more variable growth compared to the state's steady rise to $151,000 and the national jump to $179,400. The county's residential energy tax credit has seen consistent increases, hitting $1,350.00 in 2021, which might indicate growing investments in energy-efficient properties. Real estate taxes in Wayne County... Read more
Median Value of Occupied Housing Units in Wayne County, Mississippi Over the Last 8 Years
Wayne County, Mississippi has experienced some fluctuations in median home values over the last eight years, peaking in 2022 at $89,100. Compared to the state's trend, which saw a steady rise to $151,000, Wayne County's growth has been more variable. Nationally, the median home value has seen significant increases, reaching $179,400 in 2022. For those looking to invest or move, Wayne County may present more affordable opportunities, but the variance in home values suggests cautious optimism and a need for in-depth local market analysis.
Residential Energy Tax Credit Per Tax Return in Wayne County, MS Over the Last 9 Years
In Wayne County, Mississippi, the residential energy tax credit per tax return has generally exhibited an upward trend over the past nine years, with figures ranging from roughly $605.26 in 2013 to approximately $1350.00 in 2021. Notable upticks include spikes in 2015 and 2017-2019, suggesting increased investments in energy-efficient home improvements. This pattern offers potential insights for investors, appraisers, insurance agents, and real estate professionals assessing the local market dynamics and the financial benefits linked to energy-efficient properties.
Average Real Estate Taxes Per Tax Return in Wayne County, MS Over the Last 10 Years
Over the last decade, Wayne County, Mississippi has seen a notable increase in average real estate taxes per tax return, climbing from approximately $1,223.62 in 2012 to about $2,216.67 in 2021. This upward trend may indicate a rise in property values, suggesting potential for higher long-term returns on investments in the area. Nonetheless, prospective buyers, real estate investors, and insurance agents might need to consider these escalating costs while making financial plans. The peak in 2020 at roughly $2,322.22 could imply a recent high in property tax rates, which may stabilize in the coming years.
Percentage of Farm Returns in Wayne County, MS Over the Last 10 Years
Over the last decade, Wayne County, Mississippi has seen slight fluctuations in farm tax returns, generally hovering around the 10% to 11% mark. In 2015, there was a noticeable uptick reaching approximately 11.38%, with a peak at nearly 11.47% in 2018. Farm tax returns, indicating profitability and sustainability of agricultural ventures, can be an important metric for potential investors and residents. This can underscore the stability or growth potential in the local agribusiness sector, impacting decisions on moving, investing, or building property in the area.
Number of Mortgages by Occupancy Type in Wayne County, MS Over the Last 5 Years in Wayne County
Wayne County, Mississippi has seen a noticeable fluctuation in mortgage counts over the past five years, especially concerning principal residences, which saw a peak in 2020 and 2021 with 655 and 669 mortgages respectively. Meanwhile, investment properties and second residences have generally remained stable but constitute a much smaller share of the market. Changes in occupancy type matter because a higher number of mortgages for principal residences might suggest stronger local demand for primary housing, possibly impacting property values and insurance risks. Investors and builders can capitalize on these trends, while appraisers and real estate agents can better anticipate market shifts, which could affect forecasting and valuation precision.
Economic Outlook
Wayne County, Mississippi's real estate market appears influenced by economic shifts reflected in its average taxable income, which peaked at $49,180.17 in 2014 and hit a low of $41,243.61 in 2017 before somewhat rebounding to $46,417.07 in 2021. State and local income taxes per tax return also saw a peak in 2019 at $6,817.14 contrasted by a dip to $3,981.76 in 2017, signaling possible economic or policy shifts. The total tax liability similarly moved, peaking at $8,514.55 in 2014 and dropping... Read more
Average Taxable Income per Tax Return in Wayne County, MS over the last 9 years
Wayne County, Mississippi has seen some fluctuations in average taxable income over the past nine years. The peak was in 2014 with an average of $49,180.17 per tax return, while the lowest point occurred in 2017 at $41,243.61. Recent years show a moderate rebound, with 2021 reflecting an average of $46,417.07. This variability might suggest economic changes and cycles affecting local incomes, which could be crucial for investors and real estate professionals aiming to understand the financial landscape and potential for growth in the area.
Average State and Local Income Taxes Per Tax Return in Wayne County, MS Over the Last 10 Years
Wayne County, Mississippi has experienced some fluctuations in state and local income taxes per tax return over the last decade. While there was a general trend of increasing taxes from 2012 at $5,208.00 to a peak in 2019 at $6,817.14. Noteworthy is the sharp dip in 2017 to $3,981.76, which was followed by a significant rise through 2021, where the average tax return was estimated at $6,536.00. These variances suggest a dynamic local economy and shifting tax policies, which could be pertinent for investors, real estate agents, insurers, and future residents.
Average Total Tax Liability Per Tax Return in Wayne County, MS Over the Last 10 Years
Over the last decade, Wayne County, Mississippi has seen significant fluctuations in the average total tax liability per tax return. Starting in 2012 at $7,561.07, it peaked in 2014 at $8,514.55 and then experienced a downward trend, reaching its lowest in 2020 at $5,854.10. While 2021 shows a slight rebound to $6,505.79, this variability could be insightful for potential investors, real estate agents, and those considering moving to, building in, or assessing property within the area. Keeping an eye on tax liability trends may inform fiscal stability and economic health pertinent to long-term investments.
Cost of Living in Wayne County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $932 | $1,359 | $1,877 | $491 | $826 |
| 1 adult 4 children | $932 | $1,110 | $1,400 | $491 | $846 |
| 2 adults 3 children | $932 | $1,110 | $1,646 | $491 | $664 |
| 1 adult 3 children | $932 | $907 | $1,169 | $491 | $641 |
| 2 adults 2 children | $766 | $909 | $1,416 | $426 | $628 |
| 2 adults 1 child | $766 | $718 | $1,185 | $216 | $639 |
| 1 adult 2 children | $766 | $679 | $938 | $426 | $542 |
| 1 adult 1 child | $766 | $464 | $708 | $216 | $533 |
| 2 adults | $611 | $577 | $955 | $0 | $599 |
| 1 adult | $608 | $315 | $477 | $0 | $545 |
Safety trends & Data
Wayne County, Mississippi has experienced notable fluctuations in property crime, with burglaries rising from 1 in 2020 to 7 in 2022 and larceny-theft peaking at 17 in 2021 before decreasing to 7 in 2022. Motor vehicle thefts saw a slight increase to 4 in 2022, while arson cases remained consistent at 1 incident annually. These crime trends may impact property valuations and insurance premiums, suggesting a potential need for increased security measures for both investors and... Read more
Property Crime Trends in Wayne County, MS Over the Last 3 Years
Wayne County, Mississippi has seen some fluctuations in property crime over the last three years. While the total number of burglaries increased from 1 in 2020 to 7 in 2022, larceny-theft incidents spiked in 2021 with 17 occurrences before dropping to 7 in 2022. Motor vehicle thefts remained relatively low, with a slight increase to 4 in 2022. Interestingly, arson cases were consistent each year at 1 reported incident. These trends may be significant for potential investors and residents, suggesting a need for heightened security measures and could influence property valuations and insurance premiums.
Demographics
Wayne County, Mississippi, reveals intricate demographic patterns. A slight female majority exists in the adult population. Educational attainment is diverse, but high school graduates form the largest segment, while advanced degrees are less common. Age-wise, there's a balanced distribution, yet people over 55 outnumber younger age groups, reflecting an aging population. In terms of race, the county is predominantly White, with Black or African American individuals comprising the... Read more
Race Distribution in Wayne County, Mississippi (2022)
Educational Attainment in Wayne County, Mississippi (2022)
Age Distribution in Wayne County, Mississippi
Citizen Population in Wayne County, Mississippi (2022)
Political Trends & Data
Wayne County, Mississippi's real estate market is likely influenced by its predominantly conservative demographic, considering over 62% of the county's votes went Republican in the 2020 U.S. Presidential Election. This political lean may reflect community values that prioritize suburban and rural living, potentially driving demand for single-family homes and properties with larger lots. Conversely, the modest Democratic presence could mean limited demand for urban-style developments, shaping... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Wayne County, Mississippi shows a strong Republican lean, as observed in the 2020 U.S. Presidential Election with more than 62% of votes going to the Republican candidate. Democratic support was significantly lower at just over 36%. Minor parties, including Libertarian and Green, garnered negligible support, and votes for other parties were minimal. This voting pattern might suggest a predominantly conservative demographic in the area.
62.72% of voters voted for the Republican party in the 2020 Presidential Election
36.04% of voters voted for the Democrat party in the 2020 Presidential Election
0.45% of voters voted for the Livertarian party in the 2020 Presidential Election
0.11% of voters voted for the Green party in the 2020 Presidential Election
0.69% of voters voted for the Other party in the 2020 Presidential Election
School Data
Wayne County, Mississippi has maintained a lower than average student-to-teacher ratio over the past decade, dipping to a notable 9 students per teacher in 2023. This trend suggests smaller class sizes, potentially hinting at a high-quality educational environment. This could be a selling point for investors, families, or real estate agents evaluating the area. A smaller ratio often enhances community appeal, potentially affecting property values positively for builders, appraisers, and... Read more
Student-to-teacher ratio in Wayne County, Mississippi over the last 10 years
Over the last decade, Wayne County, Mississippi has generally maintained a student-to-teacher ratio below the national average of 14 students per teacher. Notable spikes occurred in 2016 and 2017 with ratios of 15 and 14 respectively, but recent years have seen a downward trend, culminating in a ratio of 9 in 2023. This lower student-to-teacher ratio potentially implies smaller class sizes, which might be attractive to investors, families, real estate agents, and insurance agents evaluating the area's educational quality. For prospective property builders, appraisers, and those thinking of moving to Wayne County, these ratios could indicate a stable or even improving education environment that could influence property values and community appeal.
