Gates County Real Estate and Livability Trends
In Gates County, North Carolina, the average taxable income per tax return has climbed from $44,696.54 in 2013 to around $56,051.29 in 2021, showing an upward economic trend that might interest investors and real estate agents. Median home values increased modestly from $144,300 in 2015 to $153,000 in 2022, staying below state and national growth rates. Mortgage trends indicate a rise in... Read more
Gates County Market Trends
Gates County, North Carolina, has seen a modest increase in median home values from $144,300 in 2015 to $153,000 in 2022, tracking below both state and national growth rates. Residential energy tax credits have experienced significant fluctuations with peaks like $712.50 in 2016 and lows around $300.00 in 2014 and 2019, hinting at varied investment in energy efficiency. Real estate taxes have... Read more
Median Value of Occupied Housing Units in Gates County, North Carolina Over the Last 8 Years
Over the past 8 years, the median home value in Gates County, North Carolina has fluctuated but ultimately increased from $144,300 in 2015 to $153,000 in 2022. While these values have experienced ups and downs, they roughly track below both state and national averages. Compared to the North Carolina's state-wide figures, which surged from $154,900 in 2015 to $234,900 in 2022, Gates County presents a less accelerated appreciation. Nationally, home values grew from $125,500 to $179,400 within the same period, marking a significant rise. This slower growth rate could suggest more stable and potentially more affordable investment opportunities in Gates County, appealing to potential buyers and investors looking for value in a less volatile market.
Residential Energy Tax Credit Per Tax Return in Gates County, NC Over the Last 8 Years
Over the past eight years, Gates County, North Carolina has seen varying levels of residential energy tax credits, with notable spikes and dips in average amounts per tax return. The highest average credit was observed in 2016 at $712.50, likely reflecting heightened efforts towards energy efficiency. Conversely, lower averages around $300.00 in 2014 and 2019 may suggest periods of reduced investment in residential energy improvements. This fluctuation in tax credits provides insights for potential investors and real estate agents about the county's evolving focus on energy-efficient housing, which could influence property values and development opportunities.
Average Real Estate Taxes Per Tax Return in Gates County, NC Over the Last 10 Years
Over the past decade, real estate taxes per tax return in Gates County, North Carolina, have generally trended upward. Starting at $1,576.19 in 2012, taxes saw a significant rise, peaking at $2,444.44 in 2019 before slightly declining afterwards. This pattern could suggest increasing property values or tax rate adjustments, making it crucial for potential investors, property builders, and real estate agents to consider tax implications when assessing the area's real estate opportunities. Such trends could also impact insurance premiums and appraisal values, further influencing financial decisions related to property in Gates County.
Percentage of Farm Returns in Gates County, NC Over the Last 10 Years
Over the last decade, the percentage of farm tax returns in Gates County, North Carolina, has exhibited slight fluctuations, ranging from approximately 2.07% to 2.58%. These small variations could indicate that agricultural activities remain relatively steady, potentially providing a stable rural economic base. This stability in farm income might appeal to investors, developers, or potential residents seeking a consistent agrarian presence. Farm tax returns generally refer to the reports farmers file to disclose their farming income and expenses, highlighting the role agriculture plays in local economic health and influencing county development dynamics.
Number of Mortgages by Occupancy Type in Gates County, NC Over the Last 5 Years in Gates County
Over the past five years, Gates County, North Carolina, has witnessed notable fluctuations in mortgage counts across different occupancy types. The number of mortgages for principal residences has consistently outpaced those for investment and second residences, reaching a peak of 620 in 2021 from 436 in 2018. Investment properties saw a slight drop from 15 in 2018 to a low of 7 in 2020 but then partially rebounded to 10 by 2022. Mortgages for second residences have remained relatively low, peaking at 11 in 2019 and dipping to just 3 in 2022. These shifts in occupancy type could signal changing investment interests and homeowner preferences, impacting market dynamics, property values, and risk profiles. Investors, real estate agents, and insurance agents might find these trends pivotal in evaluating potential opportunities and strategizing accordingly in the region.
Economic Outlook
In Gates County, North Carolina, the average taxable income per tax return has climbed from $44,696.54 in 2013 to approximately $56,051.29 in 2021, indicating an encouraging economic trajectory that could intrigue investors and real estate agents alike. Concurrently, the average state and local income taxes have shown a general upward trend with a final rise to $5,072.73 in 2021, despite some years of decline. This trend highlights economic shifts that might influence investment and development... Read more
Average Taxable Income per Tax Return in Gates County, NC over the last 9 years
Gates County, North Carolina has seen a steady increase in average taxable income per tax return over the past nine years, moving from $44,696.54 in 2013 to approximately $56,051.29 in 2021. This consistent upward trend may make the area particularly attractive for potential investors and real estate agents, signaling a prosperous economic outlook. For appraisers and insurance agents, this growth suggests increasing property values and possibly higher premiums. Those considering building or moving to Gates County might be reassured by the steady financial improvement, pointing to a potentially more stable and affluent community.
Average State and Local Income Taxes Per Tax Return in Gates County, NC Over the Last 10 Years
Over the last decade, Gates County, North Carolina has seen fluctuations in average state and local income taxes per tax return. Starting at $4,314.05 in 2012, there was a gradual increase with peaks like $4,707.14 in 2019, and a late surge to $5,072.73 in 2021. While some years experienced declines, the general trend seems to skew upwards. This reveals underlying economic shifts that could impact decisions for investors, appraisers, insurers, builders, and real estate professionals focusing on the area.
Average Total Tax Liability Per Tax Return in Gates County, NC Over the Last 10 Years
Over the past decade, Gates County, North Carolina has seen a general uptick in the average total tax liability per tax return, peaking at $6,688.06 in 2021. These fluctuations might interest potential investors and property developers as they suggest a shifting economic landscape. For instance, the spike in 2019 and subsequent rise in 2021 could point to increased income levels, changes in the local economy, or adjustments in tax policies. Real estate and insurance professionals could find this data relevant for appraisals or risk assessment, reflecting possibly improving financial health among residents.
Cost of Living in Gates County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,203 | $1,323 | $2,297 | $875 | $1,292 |
| 1 adult 4 children | $1,203 | $1,080 | $1,759 | $875 | $1,373 |
| 2 adults 3 children | $1,203 | $1,081 | $1,992 | $875 | $1,042 |
| 1 adult 3 children | $1,203 | $882 | $1,454 | $875 | $1,101 |
| 2 adults 2 children | $923 | $885 | $1,686 | $772 | $890 |
| 1 adult 2 children | $923 | $661 | $1,148 | $772 | $791 |
| 2 adults 1 child | $923 | $699 | $1,381 | $436 | $830 |
| 1 adult 1 child | $923 | $452 | $843 | $436 | $685 |
| 2 adults | $792 | $562 | $1,075 | $0 | $723 |
| 1 adult | $779 | $306 | $538 | $0 | $630 |
Safety trends & Data
Property crimes in Gates County, North Carolina, have shown some variability over the last three years. Larceny-theft peaked at 6.0 incidents in 2022, while burglary incidents decreased significantly from 4.0 in 2020 to just 1.0 in 2021. Minimal embezzlement and fraud cases were reported, and a decrease in vandalism incidents suggests improved local property security. These trends offer valuable insights for appraisers, real estate investors, and insurance agents assessing risk and community... Read more
Property Crime Trends in Gates County, NC Over the Last 3 Years
Over the last three years, property crimes in Gates County, North Carolina, show some interesting variability, particularly in larceny-theft which peaked at 6.0 incidents in 2022 compared to fewer occurrences in prior years. While burglary incidents have decreased from 4.0 in 2020 to just 1.0 in 2021, embezzlement and fraud remained minimal with isolated cases. Vandalism saw a decrease over the period, indicating a potential improvement in local property security. These trends suggest a shift in the types of property crimes, which could be valuable for appraisers, real estate investors, and insurance agents assessing risk and community safety.
Demographics
In Gates County, North Carolina, the adult population shows a nearly even split between males and females. Educational attainment is skewed towards high school graduates and those with some college experience, with a smaller proportion holding bachelor's or graduate degrees. The age distribution leans towards older adults, highlighting a significant number of residents aged 55 and above. Racially, the population is predominantly White, followed by a considerable African American community, with... Read more
Race Distribution in Gates County, North Carolina (2022)
Educational Attainment in Gates County, North Carolina (2022)
Age Distribution in Gates County, North Carolina
Citizen Population in Gates County, North Carolina (2022)
Political Trends & Data
Gates County, North Carolina, displayed a conservative trend in the 2020 U.S. Presidential Election, with Republicans garnering a larger share of the vote. Democrats held a significant, yet lesser, portion, indicating a competitive but not dominant standing. Minor parties, such as the Libertarian and Green parties, secured only fractional percentages, suggesting limited influence beyond the two primary political... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Gates County, North Carolina, the 2020 U.S. Presidential Election results indicated a stronger inclination toward Republican candidates, possibly reflecting a conservative trend. Democrats secured a somewhat smaller share, suggesting a significant but less dominant presence. Minor parties like the Libertarian and Green parties, along with others, captured only fractional percentages, highlighting a potentially limited appeal outside the two major parties.
56.39% of voters voted for the Republican party in the 2020 Presidential Election
42.64% of voters voted for the Democrat party in the 2020 Presidential Election
0.69% 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
0.22% of voters voted for the Other party in the 2020 Presidential Election
School Data
Gates County, North Carolina's student-to-teacher ratio has fluctuated over the past decade, dipping as low as 11:1 in 2022 and reaching nearly 14:1 in 2014. With mostly favorable ratios compared to the national average of 14:1, this could influence local property investments and real estate dynamics. Families might be attracted to the area for more personalized education, while builders and developers could find opportunity in these metrics. This trend in educational quality is definitely... Read more
Student-to-teacher ratio in Gates County, North Carolina over the last 10 years
Over the last decade, Gates County, North Carolina has seen student-to-teacher ratios fluctuate, with numbers dipping as low as 11 students per teacher in 2022 and topping out at nearly 14 in 2014. This fluctuation, mostly maintaining below the national average of 14 students per teacher, might influence local property investments and real estate dynamics, as lower ratios often appeal to families seeking more personalized education for their children. Moreover, this trend could be relevant for insurance agents and appraisers assessing risk and value related to educational quality, while builders and developers might see an opportunity in areas with consistently favorable ratios. These shifts in educational quality metrics are certain to interest potential movers and current residents aiming for a high quality of life.
