Rowan County Real Estate and Livability Trends
Rowan County, North Carolina has seen a surge in economic growth, reflected in the average taxable income rising to $61,368.42 in 2021. This economic upswing potentially boosts demand for housing, although higher state and local taxes, reaching $10,788.15 per tax return, might affect disposable income and property taxes. Median home values have also jumped significantly, from $128,300 in 2015 to... Read more
Rowan County Market Trends
Over the past eight years, the median home values in Rowan County, North Carolina have soared, jumping from $128,300 in 2015 to $187,300 in 2022. This growth rate outpaces the state and national increases, marking it as an appealing locale for real estate investment. Moreover, the notable fluctuation in residential energy tax credits, peaking at $2909.52 in 2018, indicates a local push towards... Read more
Median Value of Occupied Housing Units in Rowan County, North Carolina Over the Last 8 Years
Over the past eight years, the median home values in Rowan County, North Carolina have experienced steady growth, jumping from $128,300 in 2015 to $187,300 in 2022. This upward trend parallels the national increase but is notably more significant when compared to the state's figures. Investors might find Rowan County particularly appealing as its growth rate outpaces both the state's rise from $154,900 to $234,900 and the national increase from $125,500 to $179,400 during the same period. This could signal strong future appreciation potential for those looking to buy property in the area.
Residential Energy Tax Credit Per Tax Return in Rowan County, NC Over the Last 9 Years
Rowan County, North Carolina has seen a notable fluctuation in residential energy tax credits per tax return over the last nine years. The trend shows a peak in 2018 at approximately $2909.52, indicating a significant increase in residential energy investments or improvements that year. Following this peak, the credits have largely stabilized around the $1000-$1500 range. For investors, appraisers, and real estate agents, this trend may suggest an increased local interest in energy-efficient upgrades, potentially influencing property values and marketability. Insurance agents may also find this data relevant as it could hint at the prevalence of modernized, energy-efficient homes, impacting risk assessments and policy conditions.
Average Real Estate Taxes Per Tax Return in Rowan County, NC Over the Last 10 Years
Rowan County, North Carolina has experienced a notable increase in average real estate taxes per tax return over the past decade. From 2012 to 2017, there was a steady but modest rise, with taxes increasing from around $1,926.00 to approximately $2,322.00. However, a significant jump occurred between 2017 and 2019, with average taxes soaring from just over $2,322.00 to about $3,427.00. This upward trend continued into 2021, reaching around $3,469.00. This could indicate rising property values or changes in tax rates, making it a more critical factor for potential investors, homeowners, and real estate professionals to consider.
Percentage of Farm Returns in Rowan County, NC Over the Last 10 Years
Over the past 10 years, Rowan County, North Carolina, has seen a fluctuating trend in the percentage of farm tax returns. Starting at around 1.42% in 2012 and seeing a slight decrease to approximately 1.14% by 2021, the data suggests a gradual decline. Farm tax returns represent the portion of tax returns filed by farms, an indicator of agricultural activity and land use in the county. This metric can be a useful consideration for those looking to invest in, move to, or build property in Rowan County, providing a snapshot of the economic contribution from farming. It may imply shifts in land use, economic focus, or changes in the local agricultural industry, crucial factors for making informed decisions about the area.
Number of Mortgages by Occupancy Type in Rowan County, NC Over the Last 5 Years in Rowan County
Rowan County, North Carolina's mortgage trends over the past five years show a considerable preference for principal residences, with numbers peaking at 10,128 in 2021 before dipping to 7,601 in 2022. Investment property mortgages have seen a steady, if modest, increase from 348 in 2018 to 585 in 2022. Mortgages for second residences remained low and relatively stable, indicating limited interest in vacation or secondary homes. For investors and real estate agents, the rising trend in investment property mortgages suggests a growing interest in rental properties or commercial real estate. Appraisers and insurance agents should note the dominance of principal residences, affecting valuation and policy decisions. Shifts in occupancy type can significantly impact market dynamics, affecting everything from demand in certain housing sectors to local economic activity.
Economic Outlook
Rowan County, North Carolina, has experienced notable economic growth, evidenced by a surge in the average taxable income per tax return to $61,368.42 in 2021. This economic uptick could mean increased demand for upgraded housing and services, potentially boosting real estate market activity. However, the average state and local income taxes per tax return have also seen a dramatic rise, reaching $10,788.15 by 2021, which might influence disposable income and property taxes. Despite these tax... Read more
Average Taxable Income per Tax Return in Rowan County, NC over the last 9 years
Rowan County, North Carolina, has seen a consistent increase in the average taxable income per tax return over the last nine years, with a notable jump to $61,368.42 in 2021. This upward trend suggests a growing economic stability and potentially higher spending power among residents. Investors and real estate agents may find the area increasingly attractive due to the rising incomes, which could correlate with a demand for upgraded housing and services. Builders and developers should be aware of these trends as they may influence market potential and property values. Insurance agents may also consider adjusting coverage options in response to the higher income levels and improved economic conditions.
Average State and Local Income Taxes Per Tax Return in Rowan County, NC Over the Last 10 Years
Rowan County, North Carolina, has seen a dramatic increase in average state and local income taxes per tax return over the last decade. Starting at approximately $5,270.12 in 2012, the taxes surged to $10,788.15 by 2021. Noteworthy spikes occurred between 2017 and 2018, with another significant jump from 2019 to 2021. For those considering real estate investments, moving, or providing financial services in Rowan County, this upward trend may signal a changing economic landscape with potential implications for disposable income and property taxes.
Average Total Tax Liability Per Tax Return in Rowan County, NC Over the Last 10 Years
Rowan County, North Carolina has seen a notable increase in the average total tax liability per tax return over the past decade, climbing from $5,887.70 in 2012 to a significant $8,919.07 in 2021. This upward trajectory indicates a potential rise in income levels, cost of living, or changes in the tax code impacting residents. For those considering investments or relocating to the area, it's crucial to recognize that while Rowan County remains potentially appealing, the rising tax liabilities could reflect broader economic shifts worth monitoring.
Cost of Living in Rowan County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,270 | $1,428 | $1,923 | $1,235 | $1,312 |
| 1 adult 4 children | $1,270 | $1,166 | $1,470 | $1,235 | $1,417 |
| 2 adults 3 children | $1,270 | $1,166 | $1,668 | $1,235 | $1,072 |
| 1 adult 3 children | $1,270 | $952 | $1,216 | $1,235 | $1,159 |
| 2 adults 2 children | $980 | $955 | $1,414 | $1,089 | $907 |
| 1 adult 2 children | $980 | $713 | $961 | $1,089 | $837 |
| 2 adults 1 child | $980 | $755 | $1,159 | $615 | $822 |
| 1 adult 1 child | $980 | $487 | $707 | $615 | $693 |
| 2 adults | $805 | $606 | $905 | $0 | $666 |
| 1 adult | $800 | $331 | $452 | $0 | $597 |
Safety trends & Data
Rowan County, North Carolina offers a unique mix of property crime trends over the past five years. While there's been a notable decline in burglaries and motor vehicle thefts—from 24 reports in 2018 to just 9 in 2022—larceny-theft cases have shown irregular peaks, like the 479 reported in 2021. Fraud cases are also on a steady decline, dropping from 107 in 2018 to 30 in 2022. These trends could be essential for potential investors, homebuyers, and insurance agents, as they might influence... Read more
Property Crime Trends in Rowan County, NC Over the Last 5 Years
Rowan County, North Carolina has seen varied trends in property crime over the past five years. While burglary incidents have generally declined, larceny-theft cases have fluctuated with noticeable peaks, such as in 2021 with 479 reported cases. Motor vehicle thefts, however, have significantly decreased from 24 reports in 2018 to just 9 in 2022. Fraud cases have also shown a downward trend, dropping steadily from 107 in 2018 to 30 in 2022. These patterns might be of interest to potential investors, homebuyers, and insurance agents considering the county, as they reflect an evolving local crime landscape that could influence property values and insurance premiums.
Demographics
Rowan County, North Carolina presents a diverse demographic landscape, with a slightly higher proportion of females compared to males in the adult population. Education levels exhibit a broad range; a significant number of residents have completed high school or some college, but fewer hold advanced degrees. The age distribution suggests a balanced mix across different age groups, with a notable presence of those in their prime working years and approaching retirement. Additionally, the racial... Read more
Race Distribution in Rowan County, North Carolina (2022)
Educational Attainment in Rowan County, North Carolina (2022)
Age Distribution in Rowan County, North Carolina
Citizen Population in Rowan County, North Carolina (2022)
Political Trends & Data
Rowan County, North Carolina, might have a strong conservative leaning, given that Republicans received about 67% of the votes in the 2020 U.S. Presidential Election. Democrats got around 31%, while minor parties like the Libertarians and Greens captured less than 1% each. This voting behavior could indicate limited traction for third-party candidates in the... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Rowan County, North Carolina, appeared to lean heavily Republican in the 2020 U.S. Presidential Election, with Republicans garnering around 67% of the votes. Democrats received roughly 31%, while minor parties like the Libertarians and Greens captured less than 1% each. This voting pattern might suggest a strong conservative preference among the electorate, with limited traction for third-party candidates.
67.15% of voters voted for the Republican party in the 2020 Presidential Election
31.49% of voters voted for the Democrat party in the 2020 Presidential Election
0.79% of voters voted for the Livertarian party in the 2020 Presidential Election
0.21% of voters voted for the Green party in the 2020 Presidential Election
0.36% of voters voted for the Other party in the 2020 Presidential Election
School Data
Rowan County, North Carolina, has seen a fluctuating student-to-teacher ratio, peaking at 16 in 2023 and hitting a low of around 14 in 2021. Compared to the national average of 14, these higher ratios could suggest crowding and resource allocation issues, which might influence investment decisions and affect property values. The quality of education directly impacts real estate appeal, making these trends crucial for prospective buyers and residents to understand the evolving educational... Read more
Student-to-teacher ratio in Rowan County, North Carolina over the last 10 years
Rowan County, North Carolina has experienced a fluctuating student-to-teacher ratio over the past decade, peaking at 16 in 2023 and bottoming out at approximately 14 in 2021. Compared to the national average of 14 students per teacher, Rowan County's ratios have predominantly been higher, signaling potential crowding and resource allocation challenges for educators. Such trends could inform investment decisions, indicate a need for infrastructural or staffing changes, and affect property values given the direct relationship between quality education and real estate appeal. For those moving to the area or currently living there, understanding these shifts can provide insights into the changing educational environment and its impact on community development.
