Cabarrus County Real Estate and Livability Trends
Cabarrus County, North Carolina's real estate market is exhibiting robust growth, with median home values climbing from $167,100 in 2015 to $281,600 in 2022, outpacing state and national averages. Heightened average taxable incomes and a significant rise in property tax liabilities hint at a more affluent demographic, while the notable decline in property crime could boost the area's appeal. The... Read more
Cabarrus County Market Trends
Cabarrus County, North Carolina has experienced noteworthy growth in median home values over the past eight years, rising from $167,100 in 2015 to $281,600 in 2022, surpassing both state and national averages. Residential energy tax credits have fluctuated significantly, peaking at $3055.56 per tax return in 2018, suggesting responsiveness to policy changes or energy incentives. Real estate taxes... Read more
Median Value of Occupied Housing Units in Cabarrus County, North Carolina Over the Last 8 Years
Over the last eight years, Cabarrus County, North Carolina has seen robust growth in median home values, surging from $167,100 in 2015 to $281,600 in 2022. This growth rate outpaces both state and national averages, with North Carolina's median home values rising from $154,900 to $234,900 and the national average increasing from $125,500 to $179,400 in the same period. For potential investors, builders, and residents, this trend suggests that Cabarrus County could be a lucrative and appreciating market.
Residential Energy Tax Credit Per Tax Return in Cabarrus County, NC Over the Last 9 Years
The residential energy tax credit in Cabarrus County, North Carolina has seen significant fluctuations over the past nine years. Noteworthy spikes occurred in 2018, reaching an average of $3055.56 per tax return, and 2017 at $790.36. Earlier years showed more modest averages, such as $352.49 in 2013 and $445.81 in 2014. Despite some declines, more recent years like 2020 and 2021 maintain substantial figures around $1334.92 and $1533.83 respectively. This volatility could indicate responsiveness to policy changes, energy use patterns, or incentives, posing potential opportunities and considerations for investors, homeowners, and real estate professionals in the area.
Average Real Estate Taxes Per Tax Return in Cabarrus County, NC Over the Last 10 Years
Real estate taxes per tax return in Cabarrus County, North Carolina have shown a notable upward trend over the last decade, with figures rising from approximately $2,446.29 in 2012 to around $4,282.52 in 2021. This increase, especially the jump between 2017 and 2018 and again between 2018 and 2020, might hint at escalating property values or higher tax rates. Investors and potential homeowners should consider these historical patterns when evaluating the financial aspects of purchasing property in the area. Real estate agents and appraisers might find this data useful for contextualizing property valuations, while insurance agents could use these trends to assess risk profiles.
Percentage of Farm Returns in Cabarrus County, NC Over the Last 10 Years
Cabarrus County, North Carolina has seen a slight decline in the percentage of farm tax returns over the last decade, with a drop from 0.75% in 2012 to a low of approximately 0.56% by 2020, before experiencing a minor uptick to 0.58% in 2021. Farm tax returns reflect the portion of income tax filings that report farming as a primary source of income, which can provide insights into the agricultural economic health and trends in rural investment. This decline might suggest a shift away from traditional farming activities, potentially opening opportunities for different types of land use or investment. Those looking to move to or invest in the area might want to consider these shifts as indicators of evolving economic landscapes.
Number of Mortgages by Occupancy Type in Cabarrus County, NC Over the Last 5 Years in Cabarrus County
In Cabarrus County, North Carolina, the past five years reveal an interesting pattern in mortgage counts by occupancy type. Principal residences dominate the market, with noticeable peaks in 2020 and 2021, likely reflecting economic factors or housing policies during or post-pandemic. Investment properties, while significantly fewer, show a gradual increase until 2020, then a slight decline, which could suggest shifting investor confidence or profitability in the area. Second residences maintain a consistent but minimal presence, implying limited seasonal or vacation home buying. These trends can impact property values, insurance risks, and neighborhood character, making it crucial for investors, appraisers, real estate agents, and potential new residents to consider these dynamics when making decisions.
Economic Outlook
Cabarrus County, North Carolina, has experienced a significant rise in average taxable income per tax return, climbing from $57,856.77 in 2013 to $80,762.20 by 2021. This trend suggests increased economic strength and potentially higher disposable income, hinting at a growing market for higher-end properties. Concurrently, average state and local income taxes have risen from $6,514.84 in 2012 to $10,574.64 in 2021, possibly indicating economic growth but also higher living costs. Additionally,... Read more
Average Taxable Income per Tax Return in Cabarrus County, NC over the last 9 years
Cabarrus County, North Carolina, has shown a notable increase in the average taxable income per tax return over the last nine years. Starting at $57,856.77 in 2013, it has risen to $80,762.20 by 2021. This steady upward trend signifies a growing economic strength and potentially higher disposable income in the area, which can attract investors, homebuyers, and businesses looking to capitalize on an increasingly affluent population. For real estate agents and builders, this may indicate a growing market for higher-end properties, while insurance agents and appraisers may need to account for the rising income levels when assessing risks and property values.
Average State and Local Income Taxes Per Tax Return in Cabarrus County, NC Over the Last 10 Years
Over the past decade, Cabarrus County, North Carolina has seen a notable increase in average state and local income taxes per tax return, from around $6,514.84 in 2012 to approximately $10,574.64 in 2021. This rising trend, with a sharp uptick beginning in 2018 and continuing through 2021, may hint at both economic growth and potentially increased living costs or taxable incomes in the area. Investors, real estate developers, and insurance agents might find this data useful as it could signal a strengthening local economy, though it might also suggest consideration of higher tax implications for new residents and businesses.
Average Total Tax Liability Per Tax Return in Cabarrus County, NC Over the Last 10 Years
Over the past decade, average total tax liability per tax return in Cabarrus County, North Carolina, has incrementally increased from around $8,718.18 in 2012 to approximately $12,983.91 in 2021. This rising trend might suggest a growing economic base and potentially higher average incomes in the county. For investors and real estate professionals, this data could imply a more affluent demographic or increased property values, which can impact market strategies and property appraisals. Moreover, insurance agents may see this as a sign to adjust premium calculations accordingly.
Cost of Living in Cabarrus County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,475 | $1,524 | $1,810 | $1,647 | $1,647 |
| 1 adult 4 children | $1,475 | $1,245 | $1,383 | $1,647 | $1,741 |
| 2 adults 3 children | $1,475 | $1,245 | $1,571 | $1,647 | $1,357 |
| 1 adult 3 children | $1,475 | $1,017 | $1,144 | $1,647 | $1,492 |
| 2 adults 2 children | $1,163 | $1,019 | $1,332 | $1,452 | $1,095 |
| 1 adult 2 children | $1,163 | $761 | $905 | $1,452 | $1,133 |
| 2 adults 1 child | $1,163 | $806 | $1,093 | $820 | $982 |
| 1 adult 1 child | $1,163 | $520 | $666 | $820 | $859 |
| 2 adults | $1,029 | $647 | $854 | $0 | $782 |
| 1 adult | $1,006 | $353 | $427 | $0 | $679 |
Safety trends & Data
Property crime in Cabarrus County, North Carolina has shown encouraging trends over the past five years. Larceny-theft significantly reduced from 917 cases in 2018 to 392 in 2022, and burglary incidents also dropped from 116 to 52 during the same period. Although fraud cases fluctuated, they ultimately reduced from 174 in 2018 to 43 in 2022. This downward trend in property crime could positively impact real estate investments and the overall attractiveness of the area for new residents and real... Read more
Property Crime Trends in Cabarrus County, NC Over the Last 5 Years
Property crime in Cabarrus County, North Carolina has seen significant fluctuations over the past five years. Noteworthy is the consistent decrease in larceny-theft, from 917 cases in 2018 to 392 cases in 2022. Burglary incidents also declined, dropping from 116 cases in 2018 to 52 in 2022. Arson incidents remained relatively low, with numbers peaking at six in 2020. Fraud cases varied, but overall showed a decrease from a high of 174 in 2018 to 43 in 2022. These trends suggest a generally positive movement in property crime reduction, which could be an attractive factor for potential investors, new residents, and real estate professionals.
Demographics
Cabarrus County, North Carolina, exhibits not only a slightly higher female population but also a diverse educational attainment landscape with substantial segments holding high school diplomas, some college education, or bachelor's degrees. The age distribution appears balanced, with notable groups in the 35-to-44 and 45-to-54-year brackets. Racial diversity is present, though a significant majority is White, followed by Black or African American residents. The demographic structure might... Read more
Race Distribution in Cabarrus County, North Carolina (2022)
Educational Attainment in Cabarrus County, North Carolina (2022)
Age Distribution in Cabarrus County, North Carolina
Citizen Population in Cabarrus County, North Carolina (2022)
Political Trends & Data
Cabarrus County in North Carolina has a real election battle on its hands, with roughly 54% of the vote for Republicans and around 44.5% for Democrats in the 2020 U.S. Presidential Election. The competitive political climate in this county might influence the wider region, especially considering the minor share held by third parties. This dynamic could affect community preferences and decision-making trends, potentially impacting everything from local policies to real estate developments and... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Cabarrus County in North Carolina saw Republican candidates possibly maintaining a lead with around 54% of the vote in the 2020 U.S. Presidential Election. Democratic candidates appeared close behind at approximately 44.5%, with Libertarians, Greens, and other parties capturing minimal shares. This breakdown might suggest Cabarrus County's leaning but indicates a competitive environment between the major parties.
53.94% of voters voted for the Republican party in the 2020 Presidential Election
44.50% of voters voted for the Democrat party in the 2020 Presidential Election
0.93% of voters voted for the Livertarian party in the 2020 Presidential Election
0.22% of voters voted for the Green party in the 2020 Presidential Election
0.41% of voters voted for the Other party in the 2020 Presidential Election
School Data
Over the past decade, Cabarrus County, North Carolina has had a student-to-teacher ratio consistently above the national average of 14, fluctuating between 15 and 16 students per teacher. This peaked around 2017-2018 at roughly 16.45, slightly dropping to about 16.1 in 2023. Real estate agents and builders could consider leveraging this data when marketing properties to families concerned with educational quality, while investors might be influenced by these figures when assessing school... Read more
Student-to-teacher ratio in Cabarrus County, North Carolina over the last 10 years
Over the past decade, Cabarrus County, North Carolina has seen its student-to-teacher ratio fluctuate between 15 and 16 students per teacher, consistently above the national average of 14 students per teacher. The ratio peaked around 2017-2018 at 16.45 and 16.48 respectively, with a slight drop in recent years, sitting at 16.1 in 2023. For investors or those considering moving to Cabarrus County, these figures imply moderately larger class sizes compared to the national standard, which could influence decisions regarding school funding, teacher hiring practices, and overall educational quality perceptions. Real estate agents and builders might also find this data pertinent when pitching properties to families prioritizing smaller class sizes for a more personalized educational experience for their children. Insurance agents and appraisers might consider these trends when evaluating the local education infrastructure's impact on property values.
