Mitchell County Real Estate and Livability Trends
Mitchell County, North Carolina has seen a steady rise in average taxable income per tax return over nine years, along with a significant increase in state and local income taxes per tax return, particularly post-2017. Concurrently, home values have surged, outpacing national trends, though still lagging behind the state average, and there’s been a notable rise in residential energy tax... Read more
Mitchell County Market Trends
Mitchell County, North Carolina, has seen steady growth in home values, rising from $141,100 in 2015 to $191,400 in 2022, outpacing the national average but still below the state average of $234,900. The surge in residential energy tax credits, from $375.00 in 2013 to $1,880.00 by 2021, suggests a heightened focus on energy-efficient home improvements, potentially boosting property values. Real... Read more
Median Value of Occupied Housing Units in Mitchell County, North Carolina Over the Last 8 Years
Median home values in Mitchell County, North Carolina, have consistently increased over the last eight years, rising from $141,100 in 2015 to $191,400 in 2022. This growth, although trailing North Carolina's state average of $234,900 in 2022, generally outpaces the national average of $179,400 for the same year. This trend could indicate a strong but steady real estate market in Mitchell County, making it an appealing option for investors and potential homeowners looking for a balance between affordability and appreciation.
Residential Energy Tax Credit Per Tax Return in Mitchell County, NC Over the Last 7 Years
Over the last seven years, Mitchell County, North Carolina has seen a notable upward trend in the average residential energy tax credit per tax return. From $375.00 in 2013, it dipped slightly in 2014 and 2016 but has surged dramatically, reaching $1,880.00 by 2021. This increase suggests a growing emphasis on energy-efficient home improvements, making Mitchell County an attractive spot for environmentally conscious investors and homebuyers. It also implies a potential rise in property values and interest from insurers and appraisers accounting for these enhancements.
Average Real Estate Taxes Per Tax Return in Mitchell County, NC Over the Last 10 Years
Average real estate taxes in Mitchell County, North Carolina have seen a general upward trend over the past decade, starting at approximately $1521.30 in 2012 and peaking at about $2763.64 in 2019. This rise could reflect increasing property values and possibly improved public services in the area, making it an interesting spot for potential property investors. For real estate agents and appraisers, it's a crucial factor when evaluating property values and for insurance agents, it impacts policy costs attached to these growing tax rates. Anyone planning to move to or build in Mitchell County should factor in this upward trend when calculating long-term expenses.
Percentage of Farm Returns in Mitchell County, NC Over the Last 10 Years
Over the past decade, Mitchell County, North Carolina has experienced a gradual decline in farm tax returns as a percentage of total returns, dropping from 4.00% in 2012 to approximately 2.78% in 2021. Farm tax returns, representing income claimed from agricultural activities, can serve as an indicator of the health and presence of farming within the county. This downward trend could imply a shift away from agricultural activities, possibly driven by industrial changes, migration patterns, or economic factors that make farming less viable or profitable. This trend matters for potential investors or those considering moving to, or building property in Mitchell County, as it suggests a decreasing emphasis on agricultural land use and could indicate future land development shifts or changes in the local economy.
Number of Mortgages by Occupancy Type in Mitchell County, NC Over the Last 5 Years in Mitchell County
The data reveals fluctuations in mortgage counts for various property types in Mitchell County, North Carolina, over the past five years. Notably, mortgages for principal residences surged in 2021, peaking at 837 before dropping to 640 in 2022. Investment properties, on the other hand, showed a lower and more stable trend with a recent dip. Tying in second homes, there was a marked increase in 2020 followed by a decline. These trends matter because they reflect changing investor confidence, demand shifts, and evolving socio-economic factors, all paramount considerations for investors, appraisers, and real estate professionals navigating this region.
Economic Outlook
Mitchell County, North Carolina has experienced a steady rise in average taxable income per tax return over the past nine years, escalating from $40,611.96 in 2013 to $55,016.59 by 2021. Simultaneously, state and local income taxes per tax return surged from $4,662.38 in 2012 to $9,206.67 in 2021, particularly rising post-2017. These trends could suggest economic growth, increased earnings, and potential shifts in tax policies. Additionally, the average total tax liability per tax return rose... Read more
Average Taxable Income per Tax Return in Mitchell County, NC over the last 9 years
Over the past nine years, Mitchell County in North Carolina has seen a gradual uptrend in average taxable income per tax return, starting at $40,611.96 in 2013 and reaching $55,016.59 by 2021. This consistent increase may indicate economic growth and rising earnings for residents, which could be enticing for potential investors and real estate professionals considering the area. For those involved in property appraisals or insurance, the improving tax income levels might also suggest a dependable market with potential for higher property values and insurance premiums.
Average State and Local Income Taxes Per Tax Return in Mitchell County, NC Over the Last 10 Years
Over the past decade, Mitchell County, North Carolina, has seen a notable increase in state and local income taxes per tax return. From $4,662.38 in 2012 to a significant rise to $9,206.67 in 2021, the upward trajectory, especially post-2017, might suggest a shift in local income levels or tax policies. This trend could hint at improving economic conditions or changes in tax legislation, thereby impacting the decision-making of potential investors, property developers, real estate agents, and new residents considering the area's financial landscape. Evaluate these trends carefully as they could influence housing affordability, property value assessment, and overall cost of living in the county.
Average Total Tax Liability Per Tax Return in Mitchell County, NC Over the Last 10 Years
Over the last decade, Mitchell County, North Carolina, has seen a consistent upward trend in average total tax liability per tax return, increasing from approximately $4,579.81 in 2012 to roughly $6,885.74 in 2021. This pattern highlights a substantial rise in tax burdens, which could be indicative of increasing property values or higher incomes in the area. For potential investors, homeowners, or real estate professionals, this trend might suggest growing economic prosperity and higher market activity, albeit with a concurrent increase in tax-related expenses.
Cost of Living in Mitchell County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $938 | $1,295 | $2,023 | $887 | $1,027 |
| 1 adult 4 children | $938 | $1,057 | $1,549 | $887 | $1,094 |
| 2 adults 3 children | $938 | $1,058 | $1,754 | $887 | $829 |
| 1 adult 3 children | $938 | $864 | $1,280 | $887 | $808 |
| 2 adults 2 children | $771 | $866 | $1,485 | $769 | $731 |
| 1 adult 2 children | $771 | $647 | $1,011 | $769 | $634 |
| 2 adults 1 child | $771 | $684 | $1,217 | $384 | $693 |
| 1 adult 1 child | $771 | $442 | $743 | $384 | $566 |
| 2 adults | $586 | $550 | $948 | $0 | $596 |
| 1 adult | $582 | $300 | $474 | $0 | $530 |
Safety trends & Data
In Mitchell County, North Carolina, property crime has experienced fluctuations over the past three years, with larceny-theft cases notably peaking at 8.00 instances in 2019 before slightly declining in 2020. Burglary and motor vehicle theft also showed similar trends, while fraud and forgery remained minor but notable concerns. These dynamics may impact property values, insurance premiums, and safety measures, important factors for potential investors, insurance agents, and... Read more
Property Crime Trends in Mitchell County, NC Over the Last 3 Years
Mitchell County, North Carolina, has seen fluctuations in property crime over the past three years, with notable increases in 2019, particularly in larceny-theft cases rising to 8.00 instances. Burglary, larceny-theft, and motor vehicle theft have been the most prevalent categories, peaking in 2019 and then showing a slight decline in 2020. Fraud and forgery were minor issues comparatively but still present, indicating diverse security challenges. Investors, insurance agents, and residents should consider these trends as they could influence property values, insurance premiums, and safety measures.
Demographics
Mitchell County, North Carolina exhibits demographic stability with a slightly higher female population. The age profile shows a significant concentration in the 45-64 age bracket, and there is a marked presence of older residents. Educational attainment indicates a balanced mix, albeit with a substantial portion not progressing beyond high school. The racial composition is predominantly White, with minimal representation from other racial... Read more
Race Distribution in Mitchell County, North Carolina (2022)
Educational Attainment in Mitchell County, North Carolina (2022)
Age Distribution in Mitchell County, North Carolina
Citizen Population in Mitchell County, North Carolina (2022)
Political Trends & Data
Mitchell County, North Carolina predominantly leans Republican, evidenced by nearly 80% of the 2020 presidential election votes going to the GOP. The Democratic party secured just over 20%, highlighting a substantial partisan gap. Minor parties like the Libertarians and Greens had minimal impact, pointing to a strong conservative presence and limited political... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Mitchell County, North Carolina, leans predominantly Republican, with nearly 80% of votes cast for the GOP in the 2020 election. The Democratic party captured just over 20%, indicating a significant partisan gap. Minor parties, including Libertarian and Green, garnered minimal support, reflecting a minimal influence from third parties in this region. This distribution hints at a strong conservative presence and limited political diversity.
78.42% of voters voted for the Republican party in the 2020 Presidential Election
20.65% of voters voted for the Democrat party in the 2020 Presidential Election
0.52% of voters voted for the Livertarian party in the 2020 Presidential Election
0.12% of voters voted for the Green party in the 2020 Presidential Election
0.29% of voters voted for the Other party in the 2020 Presidential Election
School Data
In Mitchell County, North Carolina, the student-to-teacher ratio over the past decade has generally trended below the national average of 14 students per teacher, fluctuating between 12.58 and 13.6. This relatively lower ratio might suggest more personalized attention for students compared to the national landscape, potentially making Mitchell County a more attractive place for families prioritizing education. Real estate agents, appraisers, and those considering investing in or moving to the... Read more
Student-to-teacher ratio in Mitchell County, North Carolina over the last 10 years
In Mitchell County, North Carolina, the student-to-teacher ratio over the past decade has generally trended below the national average of 14 students per teacher, fluctuating between 12.58 and 13.6. While it fell to a notable low of 12.58 in 2021, recent years have seen it stabilize around 13. This relatively lower ratio might suggest more personalized attention for students compared to the national landscape, potentially making Mitchell County a more attractive place for families prioritizing education. Real estate agents, appraisers, and those planning to invest in or move to the area might find this information valuable as it speaks to the quality and appeal of local educational institutions.
