Chaves County Real Estate and Livability Trends
Chaves County, New Mexico has seen its median home value rise from $99,700 in 2015 to $133,200 in 2022, suggesting a growing demand for housing. The county remains relatively affordable compared to the state average, where home values have increased from $160,300 to $216,000 in the same period. Additionally, average residential energy tax credits have fluctuated, peaking at $2,228.57 in 2018,... Read more
Chaves County Market Trends
Over the past eight years, Chaves County, New Mexico has seen its median home value rise from $99,700 in 2015 to $133,200 in 2022, suggesting a growing demand for housing. Compared to New Mexico's state average, Chaves County remains an affordable option, with statewide values increasing from $160,300 to $216,000 in the same period. Additionally, the average residential energy tax credit per tax... Read more
Median Value of Occupied Housing Units in Chaves County, New Mexico Over the Last 8 Years
Over the past eight years, the median home values in Chaves County, New Mexico have demonstrated a steady upward trend, starting at $99,700 in 2015 and reaching $133,200 by 2022. This growth might suggest an increasing demand for housing in the area, presenting opportunities for investors or potential homeowners. When compared to the state average, Chaves County's median home value remains significantly lower than New Mexico's statewide increase from $160,300 in 2015 to $216,000 in 2022. Nationally, housing values have also climbed, from $125,500 in 2015 to $179,400 in 2022, but Chaves County's more affordable market could be appealing for buyers looking for a less expensive entry into homeownership.
Residential Energy Tax Credit Per Tax Return in Chaves County, NM Over the Last 9 Years
The average residential energy tax credit per tax return in Chaves County, New Mexico has seen significant fluctuations over the past nine years. From $325.93 in 2013, there was a gradual increase each year, peaking dramatically at $2,228.57 in 2018. Although it then dropped to $870.27 in 2019, it has since rebounded to $1,862.90 in 2021. This variability implies a changing landscape in energy efficiency investments and incentives, potentially offering opportunities for investors, appraisers, and real estate agents to capitalize on energy-efficient properties.
Average Real Estate Taxes Per Tax Return in Chaves County, NM Over the Last 10 Years
Over the last decade, Chaves County, New Mexico has shown a notable upward trend in average real estate taxes per tax return. Starting at approximately $1,696.78 in 2012, these taxes surged to about $3,006.94 by 2021. This steady increase is particularly substantial between 2017 and 2019, where taxes jumped from roughly $2,008.31 to $3,007.06. This trend may indicate rising property values, increased municipal funding needs, or policy changes, offering a crucial insight for investors, builders, and real estate professionals assessing the area's economic landscape.
Percentage of Farm Returns in Chaves County, NM Over the Last 10 Years
The proportion of farm tax returns in Chaves County, New Mexico has shown a slight downward trend over the past decade, starting at approximately 2.14% in 2012 and decreasing to about 1.68% by 2021. Farm tax returns reflect the income reported for tax purposes by agricultural operations, indicating the economic health and vitality of the farming sector. This decline might suggest shifting economic dynamics or a reduction in the number of viable farming operations, which could be significant for investors, prospective residents, property developers, and current residents assessing the region's agricultural economy.
Number of Mortgages by Occupancy Type in Chaves County, NM Over the Last 5 Years in Chaves County
Chaves County, New Mexico has seen varying trends in mortgage types over the past five years, with principal residences consistently holding the majority share but showing notable fluctuations. Investment property mortgages have remained relatively stable, while second residence mortgages, although minimal, indicate slight variations. These changes in occupancy type could signal shifting housing demands and investment interests in the area. For investors, understanding these patterns might help in identifying opportunities and risks associated with property investments. Prospective homeowners and real estate agents could leverage these insights to make informed decisions on where to buy or sell. Appraisers and insurance agents might need to consider these trends when assessing property values and setting premiums, respectively.
Economic Outlook
Chaves County, New Mexico has experienced an upward trend in average taxable income per tax return over the past nine years, starting at $43,107.99 in 2013 and rising to $57,525.78 by 2021. Additionally, there has been a significant surge in average state and local income taxes per tax return, nearly tripling from 2018 to peak at $15,901.32 in 2021. The average total tax liability per tax return also climbed steadily from $8,125.67 in 2012 to about $9,592.50 in 2021. These trends may indicate... Read more
Average Taxable Income per Tax Return in Chaves County, NM over the last 9 years
Over the past nine years, Chaves County, New Mexico has seen a general upward trend in average taxable income per tax return. Starting at $43,107.99 in 2013, it has climbed to $57,525.78 in 2021. Despite minor fluctuations, this increase signals a potentially growing economic prosperity in the area. For investors and real estate agents, the upward trajectory in income might indicate a rising market with more affluent residents. Insurance agents and appraisers could find this data useful for risk assessments and property valuations, considering higher income brackets could influence the types of policies and rates that might be appealing.
Average State and Local Income Taxes Per Tax Return in Chaves County, NM Over the Last 10 Years
Over the past decade, Chaves County, New Mexico has seen a gradual increase in average state and local income taxes per tax return, with a significant surge in recent years. Notably, from 2018 onwards, the figures jumped dramatically, peaking at $15,901.32 in 2021. This nearly threefold increase in a short span suggests a swift rise in taxable incomes or changes in tax policies. For investors and real estate agents, these trends may signal economic growth or evolving fiscal strategies in the area, impacting property values and the cost of living.
Average Total Tax Liability Per Tax Return in Chaves County, NM Over the Last 10 Years
Chaves County, New Mexico has seen a notable upward trend in the average total tax liability per tax return over the past decade. Starting at around $8,125.67 in 2012, this figure climbed steadily to approximately $9,592.50 by 2021. Such increases might suggest an uptick in local earnings or changes in tax policies, making it relevant for investors, real estate agents, and insurance agents to assess this data for informed decision-making in this region.
Cost of Living in Chaves County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,121 | $1,383 | $2,438 | $1,422 | $1,302 |
| 1 adult 4 children | $1,121 | $1,130 | $1,886 | $1,422 | $1,355 |
| 2 adults 3 children | $1,121 | $1,130 | $2,104 | $1,422 | $1,040 |
| 1 adult 3 children | $1,121 | $923 | $1,553 | $1,422 | $1,090 |
| 2 adults 2 children | $887 | $925 | $1,770 | $1,248 | $879 |
| 1 adult 2 children | $887 | $691 | $1,219 | $1,248 | $817 |
| 2 adults 1 child | $887 | $731 | $1,436 | $683 | $790 |
| 1 adult 1 child | $887 | $472 | $885 | $683 | $644 |
| 2 adults | $674 | $587 | $1,103 | $0 | $583 |
| 1 adult | $649 | $320 | $551 | $0 | $517 |
Safety trends & Data
Property crime in Chaves County, New Mexico has seen a rollercoaster ride over the past five years. Larceny-Theft, for example, dropped from 326.00 incidents in 2018 to just 92.00 in 2021, only to climb back up to 223.00 in 2022. Burglary numbers peaked at 59.00 in 2020 but fell to 39.00 in 2022. Vandalism followed a similar erratic pattern, decreasing from 69.00 in 2018 to 43.00 in 2021, then rising to 68.00 in 2022. These crime trends could affect the local real estate market by influencing... Read more
Property Crime Trends in Chaves County, NM Over the Last 5 Years
Property crime in Chaves County, New Mexico has shown fluctuating trends over the past 5 years, with a noticeable decline in Larceny-Theft from 326.0 incidents in 2018 to 92.0 in 2021, before ticking back up to 223.0 in 2022. Burglary numbers peaked at 59.0 in 2020 before falling to 39.0 in 2022. Vandalism incidents slightly decreased from 69.0 in 2018 to 43.0 in 2021, then rose again to 68.0 in 2022. These trends could influence the local real estate market, impact appraisals, and factor into insurance rates, making it relevant for investors, homebuyers, and local residents.
Demographics
Chaves County, New Mexico, shows a fairly balanced gender distribution among adults, with a slight female majority. Educational attainment levels are quite varied, with a significant portion of the population having some college experience but no degree, and fewer possessing higher education degrees. Age distribution reveals a relatively young population, with notable portions under 10 years and another peak in the 25 to 34 age range. Racially, the county is predominantly White, but there is a... Read more
Race Distribution in Chaves County, New Mexico (2022)
Educational Attainment in Chaves County, New Mexico (2022)
Age Distribution in Chaves County, New Mexico
Citizen Population in Chaves County, New Mexico (2022)
Political Trends & Data
In Chaves County, New Mexico, voting trends indicate a strong Republican preference, with about 70% of the votes in the last presidential election going to the GOP. Democrats received around 28%, while minor parties like the Libertarians and Greens combined for just over 1.5%. This conservative lean could influence local and state policies, making it a relevant factor for investors and businesses considering the political climate of the... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Chaves County, New Mexico, the voting trends indicate a substantial lean towards the Republican Party, with nearly 70% of the vote share. Democrats garnered a relatively smaller portion, capturing around 28%. Minor parties like the Libertarians and Greens combined barely crossed the 1.5% threshold. These figures might suggest a strong conservative preference among the electorate in this region, potentially influencing both local and state policy directions.
69.76% of voters voted for the Republican party in the 2020 Presidential Election
28.43% of voters voted for the Democrat party in the 2020 Presidential Election
1.19% of voters voted for the Livertarian party in the 2020 Presidential Election
0.31% of voters voted for the Green party in the 2020 Presidential Election
0.30% of voters voted for the Other party in the 2020 Presidential Election
School Data
The student-to-teacher ratio in Chaves County, New Mexico now aligns with the national average at roughly 14 students per teacher, suggesting a more personalized education experience. This trend could appeal to families considering relocation and might signal an improvement in education quality that could positively impact community engagement and property values. Investors, developers, and real estate agents might find these trends beneficial for assessing the region's growth... Read more
Student-to-teacher ratio in Chaves County, New Mexico over the last 10 years
The student-to-teacher ratio in Chaves County, New Mexico fluctuated between roughly 14 to 16 over the last decade, with the latest figures for 2023 at around 14 students per teacher. Notably, this figure now aligns better with the national average of 14 students per teacher. For investors, developers, and real estate agents, a lower student-to-teacher ratio may suggest a more personalized education experience, which can be attractive to families considering relocation. Appraisers and insurance agents might find these trends useful when assessing the desirability and potential growth in the region's property market. For current residents, this shift may indicate an improvement in education quality, potentially impacting community engagement and long-term property values.
