Eddy County Real Estate and Livability Trends
Eddy County, New Mexico, has seen a substantial rise in median home values, jumping from $124,800 in 2015 to $188,400 in 2022, hinting at a favorable investment climate. Real estate taxes have nearly doubled from $1,403.95 in 2012 to $2,975.70 in 2021, reflecting rising property values or tax assessment changes. Recent fluctuations in taxable income and tax liabilities signal economic shifts,... Read more
Eddy County Market Trends
Eddy County, New Mexico, has seen a substantial rise in median home values, jumping from $124,800 in 2015 to $188,400 in 2022, outpacing national trends and closing in on the state median. This notable growth may hint at a favorable investment climate, suggesting considerable potential for future appreciation. The region also reflects a growing awareness of energy efficiency, with the average... Read more
Median Value of Occupied Housing Units in Eddy County, New Mexico Over the Last 8 Years
Eddy County, New Mexico, has experienced significant growth in median home values over the past eight years, with values rising from $124,800 in 2015 to $188,400 in 2022. This increase outpaces the national median, which grew from $125,500 to $179,400 in the same period, and narrows the gap with the state median, which escalated from $160,300 to $216,000. This upward trend in Eddy County might suggest a favorable investment climate, particularly as local values are catching up with broader trends, offering potential for growth and value appreciation in comparison to other regions.
Residential Energy Tax Credit Per Tax Return in Eddy County, NM Over the Last 9 Years
Over the past nine years in Eddy County, New Mexico, the average residential energy tax credit per tax return has shown significant growth, peaking in 2018 at around $2450.00. Particularly notable was the steep climb from $840.91 in 2017 to that 2018 high. Although there was a dip the following year to approximately $1733.33, the trend generally indicates a rising awareness and adoption of energy-efficient measures among residents. This data can be crucial for investors and property developers considering the economic benefits of promoting and incorporating energy efficiency practices in real estate projects in the county.
Average Real Estate Taxes Per Tax Return in Eddy County, NM Over the Last 10 Years
Over the past decade, Eddy County in New Mexico has seen a notable increase in average real estate taxes per tax return. Starting at $1,403.95 in 2012, the taxes surged to nearly double by 2017, stabilizing around $1,915.70 before spiking significantly to $2,843.51 in 2018. The upward trend continued with slight variations, reaching $2,975.70 in 2021. This sharp rise could be indicative of rising property values or changes in tax assessments, making it an important factor for potential investors, homebuyers, and real estate professionals to consider when evaluating the market stability and long-term costs associated with property ownership in the county.
Percentage of Farm Returns in Eddy County, NM Over the Last 10 Years
Over the past decade in Eddy County, New Mexico, the percentage of farm tax returns has fluctuated between 1.64% and 2.02%. The peak of 2.02% was reached in 2017, while there has been a gradual decline since then, dipping to 1.63% by 2021. Farm tax returns are crucial indicators of agricultural activity, reflecting the number of farms submitting income-related returns. This trend gives potential investors, property builders, and residents insights into the local agricultural economy's health, suggesting a slightly shrinking farming presence in recent years.
Number of Mortgages by Occupancy Type in Eddy County, NM Over the Last 5 Years in Eddy County
The trend in Eddy County, New Mexico shows a notable increase in mortgages for principal residences peaking in 2021, followed by a decline in 2022. Investment properties saw a gradual decrease over the period, suggesting potential shifts in economic viability or investor interest. Second residences remained consistently low, indicating limited demand in this category. These changes in occupancy type could be crucial for investors and developers, as high principal residence activity may signal strong local demand. Meanwhile, lower investment property and second residence numbers might affect appraisal values and insurance considerations due to potentially lower comparative market activity. Real estate agents might find this data valuable in advising clients on market dynamics, and those moving to the area can better understand local housing trends.
Economic Outlook
Eddy County, New Mexico has seen significant fluctuations in average taxable income, with a jump from $63,603.45 in 2013 to $105,590.23 in 2019, and then a dip to $69,899.72 in 2020, followed by a rebound to $79,728.12 in 2021. The county also experienced a rise in average state and local income taxes per tax return, peaking at $25,671.77 in 2020 before a slight decrease to $16,204.96 in 2021. Such volatility is mirrored in total tax liabilities, which spiked to $22,215.76 in 2019 from... Read more
Average Taxable Income per Tax Return in Eddy County, NM over the last 9 years
Eddy County, New Mexico has seen significant fluctuations in the average taxable income per tax return over the past nine years. From $63,603.45 in 2013, there was a notable increase to $105,590.23 in 2019, followed by a decline to $69,899.72 in 2020. More recently, in 2021, it rebounded to $79,728.12. Such volatility could be indicative of economic shifts, possibly influenced by local industries or broader economic conditions, making it a key point of interest for investors, real estate agents, and insurance assessors.
Average State and Local Income Taxes Per Tax Return in Eddy County, NM Over the Last 10 Years
Eddy County, New Mexico, has experienced a significant rise in average state and local income taxes per tax return over the last decade, peaking at $25,671.77 in 2020 before a slight decrease to $16,204.96 in 2021. This trend could be indicative of economic growth or changes in tax policies affecting residents and businesses. For real estate investors and appraisers, this upward trend may suggest an evolving tax landscape, potentially impacting property values and investment returns. It’s essential for those looking to move or build in the area to consider these tax trends along with other economic factors.
Average Total Tax Liability Per Tax Return in Eddy County, NM Over the Last 10 Years
The average total tax liability per tax return in Eddy County, New Mexico has shown considerable volatility over the past decade. Starting at $12,541.50 in 2012, it saw a notable spike to $22,215.76 in 2019 before decreasing to $13,915.30 in 2021. This fluctuation could reflect broader economic conditions, local industry shifts, and tax policy changes impacting residents. Real estate investors, appraisers, and others interested in the region should consider these tax trends as part of their financial planning and assessment, given the impact on disposable income and property investments.
Cost of Living in Eddy County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,441 | $1,424 | $2,438 | $1,594 | $1,579 |
| 1 adult 4 children | $1,441 | $1,163 | $1,886 | $1,594 | $1,685 |
| 2 adults 3 children | $1,441 | $1,163 | $2,104 | $1,594 | $1,319 |
| 1 adult 3 children | $1,441 | $949 | $1,553 | $1,594 | $1,417 |
| 2 adults 2 children | $1,014 | $952 | $1,770 | $1,399 | $1,009 |
| 1 adult 2 children | $1,014 | $711 | $1,219 | $1,399 | $996 |
| 2 adults 1 child | $1,014 | $752 | $1,436 | $765 | $897 |
| 1 adult 1 child | $1,014 | $486 | $885 | $765 | $732 |
| 2 adults | $898 | $604 | $1,103 | $0 | $683 |
| 1 adult | $878 | $330 | $551 | $0 | $605 |
Safety trends & Data
Property crime in Eddy County, New Mexico has shown notable fluctuations. Larceny-Theft has generally ranked highest. In 2022, Burglary peaked at 31 reported cases, while Vandalism saw a significant rise from 22 cases in 2018-2019 to 46 in 2021. Motor Vehicle Theft increased from 10 cases in 2018 to 25 in 2021. Trends in Fraud and Forgery have stayed relatively low, which might be less of a concern for potential residents or investors focused on... Read more
Property Crime Trends in Eddy County, NM Over the Last 5 Years
Property crime in Eddy County, New Mexico has exhibited notable fluctuations over the past five years, with Larceny-Theft generally ranking highest. The incidence of Burglary peaked in 2022 at 31 reported cases, while arson remained sporadically low. Vandalism showed an increasing trend, notably jumping from 22 cases in both 2018 and 2019 to 46 in 2021. Motor Vehicle Theft saw a significant rise from 10 cases in 2018 to 25 in 2021 before slightly decreasing. In particular, trends in Fraud and Forgery remained relatively low compared to other crimes, indicating these may be less concerning for potential investors or residents focusing on security issues.
Demographics
Eddy County, New Mexico presents a fairly balanced gender distribution among adults, with males slightly outnumbering females. In terms of education, high school graduates and those with some college education make up a significant portion of the population, while advanced degrees are less common. Age-wise, there is a notable concentration of individuals under 34, suggesting a youthful demographic with potential long-term economic and social implications. The racial composition is predominantly... Read more
Race Distribution in Eddy County, New Mexico (2022)
Educational Attainment in Eddy County, New Mexico (2022)
Age Distribution in Eddy County, New Mexico
Citizen Population in Eddy County, New Mexico (2022)
Political Trends & Data
Eddy County, New Mexico, hints at a solid Republican-leaning electorate, with around 75% of votes favoring the Republican candidate in the recent presidential election. The Democratic candidate received roughly 23%, while Libertarian and Green party candidates each drew about 1% or less. This may reflect a local cultural or socio-economic alignment with conservative... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Eddy County in New Mexico showed a strong preference for the Republican candidate, with approximately 75% of the vote, far outpacing the Democratic candidate who received around 23%. Libertarian and Green party candidates garnered minimal support, each drawing about 1% or less of the vote. The data may suggest a significantly Republican-leaning electorate in this county, potentially indicating a local cultural or socio-economic alignment with conservative values.
75.16% of voters voted for the Republican party in the 2020 Presidential Election
23.36% of voters voted for the Democrat party in the 2020 Presidential Election
1.03% of voters voted for the Livertarian party in the 2020 Presidential Election
0.19% of voters voted for the Green party in the 2020 Presidential Election
0.26% of voters voted for the Other party in the 2020 Presidential Election
School Data
The student-to-teacher ratio in Eddy County, New Mexico, has fluctuated recently, peaking at 19 students per teacher in 2021 and settling to around 16 in 2023, still above the national average of 14. This persistent trend could influence educational investments and resource allocation, impacting property values and the area's attractiveness to families. Real estate agents and investors might see the higher ratio as a factor in assessing the quality and desirability of local schools, possibly... Read more
Student-to-teacher ratio in Eddy County, New Mexico over the last 10 years
The student-to-teacher ratio in Eddy County, New Mexico has fluctuated over the last decade, peaking at 19 students per teacher in 2021. While the ratio has recently decreased to around 16 students per teacher in 2023, it consistently exceeds the national average of 14 students per teacher. This trend may impact decisions regarding educational investments, resource allocation, and educational standards for those considering moving to the area. Higher student-to-teacher ratios could indicate larger class sizes, which may affect the quality of education and individual student attention. For real estate agents, investors, and appraisers, these factors might influence property values and the desirability of the area for families. Additionally, insurance agents might adjust risk assessments based on the local education system's performance and resources.
