Bernalillo County Real Estate and Livability Trends
Bernalillo County, New Mexico's real estate market has experienced significant growth, with median home values rising from $185,500 in 2015 to $247,300 in 2022. Tax dynamics have also evolved, as state and local income taxes nearly doubled from $4,384.99 in 2012 to $8,733.16 in 2021. This aligns with the increasing average taxable income per tax return, which surged from $52,689 in 2013 to... Read more
Bernalillo County Market Trends
Bernalillo County's median home values have surged from $185,500 in 2015 to $247,300 in 2022, outpacing both state and national growth rates. Average residential energy tax credits per tax return have shown continuous increase, despite some fluctuations, with substantial spikes hinting at favorable conditions for energy-efficient home upgrades. Real estate taxes have risen about 71% over the past... Read more
Median Value of Occupied Housing Units in Bernalillo County, New Mexico Over the Last 8 Years
In Bernalillo County, New Mexico, median home values have seen a solid increase over the past eight years, rising from $185,500 in 2015 to $247,300 in 2022. Compared to the state's growth rate, which moved from $160,300 to $216,000, Bernalillo County's growth is on a slightly steeper trajectory. On a national level, the increase from $125,500 to $179,400 over the same period indicates that Bernalillo County's housing market is growing at a more accelerated pace than the broader national trend. These trends could imply a stronger local real estate market, potentially making Bernalillo County an attractive area for real estate investors and homebuyers looking for robust value growth.
Residential Energy Tax Credit Per Tax Return in Bernalillo County, NM Over the Last 9 Years
Over the past nine years, Bernalillo County, New Mexico, has seen fluctuating yet generally increasing average residential energy tax credits per tax return. A notable spike occurred between 2016 and 2018, where credits nearly doubled from $1,637.29 to $3,536.06. While there was a dip in 2019 and 2020, the credit value showed a slight recovery by 2021, reaching $2,874.44. This trend suggests that investing in energy-efficient home improvements has become more lucrative over the years, likely driven by state and federal incentives aiming to promote green energy solutions. For homeowners, builders, and real estate professionals, these figures highlight potential financial benefits and market appeal associated with energy-efficient upgrades in the area.
Average Real Estate Taxes Per Tax Return in Bernalillo County, NM Over the Last 10 Years
Over the past decade, Bernalillo County, New Mexico has seen a substantial increase in average real estate taxes per tax return, growing from $2,741.20 in 2012 to $4,690.93 in 2021. This nearly 71% rise in property taxes could reflect various factors like improvements in local infrastructure, rising property values, or increased municipal budgets. For potential investors and real estate agents, this trend may signal a strong urban growth and possibly higher returns on property investments. However, for current homeowners and those looking to move here, it’s essential to consider the rising taxes as part of the overall cost of living.
Percentage of Farm Returns in Bernalillo County, NM Over the Last 10 Years
Farm tax returns in Bernalillo County, New Mexico have seen a slight but steady decrease over the past decade, moving from approximately 0.31% in 2012 to about 0.26% in 2021. This trend could suggest a shift away from agricultural activities or smaller scale farming operations in the area. For those interested in investing, moving, or building property in Bernalillo County, this might hint at less reliance on farming as a primary industry, which can influence land use and local economic strategies.
Number of Mortgages by Occupancy Type in Bernalillo County, NM Over the Last 5 Years in Bernalillo County
Bernalillo County, New Mexico has seen varied trends in mortgage counts across different occupancy types over the past five years. Principal residences consistently dominate mortgage counts, but there was a noticeable dip in 2022 compared to previous years. Investment properties have seen a general increase until 2021, but then a decline in 2022. Second residences remain the smallest category but show a slight increase up until a drop in 2022. Changes in occupancy type matter because they reflect shifts in market dynamics. Investors considering where to put their money, appraisers estimating property values, insurance agents calculating risk, and developers planning new projects all need to consider these trends to make informed decisions. For instance, a drop in principal residence mortgages might indicate a cooling housing market, while fluctuations in investment properties could suggest changing investment climates or economic factors influencing rental demand.
Economic Outlook
Average taxable income per tax return in Bernalillo County, New Mexico has risen from $52,689 in 2013 to around $72,267 in 2021, with a notable spike between 2020 and 2021. Alongside this, state and local income taxes have nearly doubled from $4,384.99 in 2012 to $8,733.16 in 2021, peaking sharply in 2017 and 2018. Total tax liabilities have also climbed, reaching $11,735.27 in 2021, compared to $8,785.36 in 2012. Meanwhile, the percentage of people living under the poverty line decreased from... Read more
Average Taxable Income per Tax Return in Bernalillo County, NM over the last 9 years
Average taxable income per tax return in Bernalillo County, New Mexico has shown a general upward trend over the last nine years. Starting at approximately $52,689 in 2013, it has increased to around $72,267 by 2021. This rise, particularly the sharp jump between 2020 and 2021, suggests potential economic growth or shifts in income distribution that could influence investment and property decisions. Such trends can be vital for real estate agents, investors, and insurance agents as they reflect changing economic conditions and opportunities within the county.
Average State and Local Income Taxes Per Tax Return in Bernalillo County, NM Over the Last 10 Years
Over the past decade, Bernalillo County, New Mexico has experienced a notable upward trend in average state and local income taxes per tax return, rising from around $4,384.99 in 2012 to approximately $8,733.16 in 2021. This steady increase, peaking sharply in 2017 and 2018, suggests a growing tax burden that may influence property investment decisions, affect affordability for prospective homeowners, and impact overall living costs. More significant tax implications are likely for both individual financial planning and broader economic strategy within the county.
Average Total Tax Liability Per Tax Return in Bernalillo County, NM Over the Last 10 Years
Bernalillo County, New Mexico has seen a notable increase in the average total tax liability per tax return over the past decade, jumping from $8,785.36 in 2012 to $11,735.27 in 2021. This upward trend, marked by significant increments particularly post-2016, suggests potential economic growth and possibly rising incomes in the region. This trend may be of interest to real estate agents and investors analyzing the county's economic landscape, and insurance agents assessing the financial stability of residents. For appraisers and those involved in property valuation, understanding these tax liability trends can offer insights into the area's economic health and development trajectory.
Cost of Living in Bernalillo County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,598 | $1,464 | $1,594 | $1,704 | $1,312 |
| 1 adult 4 children | $1,598 | $1,195 | $1,230 | $1,704 | $1,460 |
| 2 adults 3 children | $1,598 | $1,196 | $1,377 | $1,704 | $1,108 |
| 1 adult 3 children | $1,598 | $976 | $1,014 | $1,704 | $1,239 |
| 2 adults 2 children | $1,124 | $979 | $1,161 | $1,498 | $865 |
| 1 adult 2 children | $1,124 | $731 | $797 | $1,498 | $855 |
| 2 adults 1 child | $1,124 | $774 | $944 | $829 | $776 |
| 1 adult 1 child | $1,124 | $500 | $580 | $829 | $658 |
| 2 adults | $926 | $622 | $728 | $0 | $551 |
| 1 adult | $752 | $339 | $364 | $0 | $475 |
Safety trends & Data
Bernalillo County, New Mexico, has seen interesting fluctuations in property crime over the past five years. Larceny-theft peaked in 2018 with 2,641 cases but has since declined, although it remains the most common crime. Vandalism and burglary have varied, which may reflect changes in crime prevention or socio-economic factors. Embezzlement and fraud cases are generally decreasing, potentially due to better detection or deterrence. Motor vehicle thefts and arson stay relatively low, which... Read more
Property Crime Trends in Bernalillo County, NM Over the Last 5 Years
Over the past five years, property crime trends in Bernalillo County, New Mexico, display noticeable fluctuations. Larceny-theft incidents, once peaking in 2018 with 2,641 reported cases, have significantly dropped, though they remain the most common crime. Vandalism and burglary numbers have seen some oscillation, reflecting potential varying crime prevention effectiveness or socio-economic shifts. Notably, embezzlement and fraud cases have exhibited a general decline, indicating perhaps improved detection or deterrence methods. Motor vehicle thefts and arson remain relatively low compared to other property crimes. This nuanced data is crucial for stakeholders such as real estate investors, insurance agents, and local residents who might be concerned with crime trends impacting property values and community safety.
Demographics
Bernalillo County in New Mexico shows a slight female majority, with women potentially having a bit higher representation than men. The county exhibits a diverse educational profile, ranging from a significant number of residents without a high school diploma to a notable portion holding graduate or professional degrees. The age distribution suggests a balanced mix, with young adults (25 to 34 years) forming one of the largest segments, hinting at a potentially active workforce. Racially, the... Read more
Race Distribution in Bernalillo County, New Mexico (2022)
Educational Attainment in Bernalillo County, New Mexico (2022)
Age Distribution in Bernalillo County, New Mexico
Citizen Population in Bernalillo County, New Mexico (2022)
Political Trends & Data
In Bernalillo County, New Mexico, the 2020 U.S. Presidential Election indicated a pronounced lean towards the Democratic Party, with about 61% of the vote. The Republican Party secured approximately 37%, and minor parties like the Libertarian and Green Parties received around 1.5% and 0.5%, respectively. This Democratic tilt might suggest considerable influence on local and state elections, shaping the county's political... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Bernalillo County, New Mexico, the 2020 U.S. Presidential Election seems to have shown a leaning toward the Democratic Party, capturing approximately 61% of the vote. The Republican Party garnered around 37%, while minor parties like the Libertarian and Green Parties received more modest shares, at roughly 1.5% and 0.5%, respectively. These trends could suggest a significant Democratic presence in the county, potentially influencing local and state elections.
36.57% of voters voted for the Republican party in the 2020 Presidential Election
61.01% of voters voted for the Democrat party in the 2020 Presidential Election
1.52% of voters voted for the Livertarian party in the 2020 Presidential Election
0.51% of voters voted for the Green party in the 2020 Presidential Election
0.40% of voters voted for the Other party in the 2020 Presidential Election
School Data
The student-to-teacher ratio in Bernalillo County, New Mexico, has fluctuated between 15 to 18 students per teacher over the past decade, dipping closer to the national average of 14 students per teacher between 2015 and 2019 before rising again above 17 in 2020. For those interested in real estate investment, these fluctuations could be key since areas with lower ratios often attract families seeking quality education, potentially driving up property values. Appraisers and insurance agents... Read more
Student-to-teacher ratio in Bernalillo County, New Mexico over the last 10 years
The student-to-teacher ratio in Bernalillo County, New Mexico has fluctuated over the past decade, with values ranging from 15 to 18 students per teacher. While the ratio dipped closer to the national average of about 14 students per teacher between 2015 and 2019, it saw an increase starting in 2020, peaking again above 17. These shifts could impact decisions for those looking to invest in property, as lower ratios often suggest higher quality of education, which can be a significant factor for families considering relocation. For appraisers and insurance agents, these figures might imply varying demand in different periods, influencing housing market assessments and policy evaluations, respectively. Real estate agents and developers might also find this data valuable, as areas with lower student-to-teacher ratios can be more attractive to potential buyers, potentially driving up property values.
