Quay County Real Estate and Livability Trends
Quay County, New Mexico’s real estate market showcases intriguing dynamics, with home values remaining steadfast around $72,200 to $76,300, significantly below the state's $216,000 average and the national $179,400 mark. A recent spike in residential energy tax credits to $600.00 per tax return in 2021 indicates heightened interest in energy-efficient upgrades, hinting at evolving property... Read more
Quay County Market Trends
Quay County, New Mexico home values have remained relatively stable around the $72,200 to $76,300 range over the past eight years, presenting a stark contrast to the state's rising $216,000 average and the national $179,400 mark. Residential energy tax credits here spiked notably in 2021 to $600,00 per tax return, suggesting a recent uptick in energy-efficient home upgrades. Real estate taxes... Read more
Median Value of Occupied Housing Units in Quay County, New Mexico Over the Last 8 Years
Quay County, New Mexico home values have fluctuated around the $72,200 to $76,300 mark over the past eight years, with a dip to $68,500 in 2020. In contrast, statewide median home values have climbed steadily, reaching $216,000 in 2022, and national values have surged to $179,400. This suggests Quay County's real estate market might be less volatile and perhaps more stable but not capitalizing on the growth seen elsewhere. For investors or prospective homeowners, the relative affordability in Quay County could represent an opportunity, particularly given broader trends of rising home values.
Residential Energy Tax Credit Per Tax Return in Quay County, NM Over the Last 5 Years
In Quay County, New Mexico, residential energy tax credits have fluctuated over the last five years, with a noticeable spike in 2021, hitting an average of $600.00 per tax return. Earlier years saw lower averages, with 2014 recording the lowest at $280.00. This trend could suggest increased investment in energy-efficient upgrades in recent times, potentially making the area more attractive for environmentally conscious investors and homeowners. This evolution might also influence property appraisers and insurers as newer, energy-efficient homes become more prevalent.
Average Real Estate Taxes Per Tax Return in Quay County, NM Over the Last 10 Years
Quay County, New Mexico has seen a noticeable increase in average real estate taxes per tax return over the past decade. Starting from $1,182.76 in 2012, the taxes rose sharply by 2019 to $1,880.00, peaking at $1,920.00 in 2020 before slightly decreasing to $1,820.00 in 2021. This trend suggests a significant rise in property values or changes in tax assessments, making it important for potential investors, real estate agents, and home builders to factor in higher carrying costs for property in the area.
Percentage of Farm Returns in Quay County, NM Over the Last 10 Years
Over the past decade, Quay County, New Mexico has seen a modest yet noticeable decline in the percentage of farm tax returns filed. Starting at approximately 12.13% in 2012, the proportion dipped to around 9.07% by 2021. Despite some fluctuations, the general trend appears to be a gradual decrease. Farm tax returns capture the number of tax filings from farms, often reflecting agricultural activity and economic health within the county. For investors, developers, or prospective residents, this trend could suggest shifts in the local economy, possibly indicating fewer active farming operations or farmers transitioning to other industries.
Number of Mortgages by Occupancy Type in Quay County, NM Over the Last 5 Years in Quay County
Over the past five years in Quay County, New Mexico, there's been a noticeable fluctuation in mortgage counts across different occupancy types, with principal residences consistently leading in volume. Investment properties and second residences have seen much lower and relatively stable numbers. The changes in occupancy type matter because they reflect shifting community dynamics; a rise in principal residence mortgages suggests a growing population of permanent residents, which can influence local services and infrastructure needs. For investors and real estate agents, stable or rising demand for investment properties and second residences may indicate potential for rental income and vacation home market growth. Further, insurance agents and appraisers might find these trends useful to assess and adjust local market risks and property values, while builders and developers could correlate these data points to anticipate housing demand and strategize their projects accordingly.
Economic Outlook
Quay County, New Mexico has seen a generally upward trend in average taxable income per tax return, climbing from approximately $32,470 in 2013 to about $42,297 by 2021. From 2018 onwards, considerable increases hint at better economic conditions or demographic changes, suggesting more financial stability for households. This could be of interest for investors and developers eyeing the area. Additionally, average state and local income taxes have fluctuated, peaking at $5,083.33 in 2021, which... Read more
Average Taxable Income per Tax Return in Quay County, NM over the last 9 years
Over the past nine years, Quay County, New Mexico has shown a general upward trend in average taxable income per tax return, starting at approximately $32,470 in 2013 and rising to around $42,297 by 2021. Noteworthy increases are observed particularly from 2018 onwards, indicating a possibly positive shift in the economic conditions or demographic changes. For potential investors, property developers, and real estate agents, these trends may suggest a growing economic base and increased household financial stability in Quay County, potentially making it an attractive area for future investments and development projects.
Average State and Local Income Taxes Per Tax Return in Quay County, NM Over the Last 10 Years
Over the past decade, Quay County, New Mexico has seen a fluctuating trend in average state and local income taxes per tax return. Beginning at $3,090.32 in 2012, the value peaked at $5,083.33 by 2021, with notable rises and dips around $3,600.00 in 2013 and $3,684.38 in 2017. This volatility suggests a potentially altering economic landscape which could be insightful for investors, real estate agents, and other stakeholders evaluating the financial environment and overall economic health of Quay County. Notably, the steep increase from 2019 to 2021 may signal changes in local tax policies or shifts in the demographic and financial profile of the residents, providing a critical context for projections and planning.
Average Total Tax Liability Per Tax Return in Quay County, NM Over the Last 10 Years
Quay County, New Mexico has experienced notable fluctuations in average total tax liability per tax return over the past decade, peaking in 2021 at approximately $5646.67. After encountering a decline around 2013 and 2015, there's an observable upward trend post-2016, with significant increases in 2020 and 2021. This trajectory could imply economic shifts or changes in income levels within the county, important for potential investors, property developers, and real estate stakeholders as they gauge the fiscal landscape. For insurance agents and appraisers, these variations might reflect underlying economic health and property values in the area.
Cost of Living in Quay County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,029 | $1,436 | $2,438 | $1,402 | $1,282 |
| 1 adult 4 children | $1,029 | $1,172 | $1,886 | $1,402 | $1,329 |
| 2 adults 3 children | $1,029 | $1,173 | $2,104 | $1,402 | $1,016 |
| 1 adult 3 children | $1,029 | $958 | $1,553 | $1,402 | $1,059 |
| 2 adults 2 children | $795 | $960 | $1,770 | $1,231 | $858 |
| 1 adult 2 children | $795 | $717 | $1,219 | $1,231 | $785 |
| 2 adults 1 child | $795 | $759 | $1,436 | $673 | $767 |
| 1 adult 1 child | $795 | $490 | $885 | $673 | $617 |
| 2 adults | $704 | $610 | $1,103 | $0 | $603 |
| 1 adult | $582 | $332 | $551 | $0 | $499 |
Safety trends & Data
Property crime trends in Quay County, New Mexico show a significant increase in larceny-theft and vandalism, particularly peaking at 10.00 and 12.00 incidents respectively in 2022. Motor vehicle theft and possession of stolen property also display higher frequencies. These patterns may influence risk assessments for potential investors, real estate agents, and insurance providers, given the rising property crime rates in the... Read more
Property Crime Trends in Quay County, NM Over the Last 5 Years
Property crime trends in Quay County, New Mexico, over the last five years reveal a noticeable pattern. While burglary has fluctuated slightly, there's been a significant increase in larceny-theft and vandalism, especially in recent years. For instance, larceny-theft peaked at 10.00 incidents in 2022, and vandalism incidents rose to 12.00 in the same year. Motor vehicle theft and cases of buying or possessing stolen property also see higher frequencies but with less dramatic spikes. These patterns could be essential for potential investors, real estate agents, and insurance providers who might consider the implications of rising property crime rates in their risk assessments and plans for the area.
Demographics
Quay County, New Mexico shows a slightly higher female adult population compared to males. Educational attainment levels suggest a significant majority are high school graduates or have some college experience, but fewer hold higher education degrees. Age-wise, the population skews older, with substantial numbers in the 55-64 and 65-74 age brackets. Racial distribution is predominantly White, with small but notable representations of Black, American Indian, and mixed races, hinting at modest... Read more
Race Distribution in Quay County, New Mexico (2022)
Educational Attainment in Quay County, New Mexico (2022)
Age Distribution in Quay County, New Mexico
Citizen Population in Quay County, New Mexico (2022)
Political Trends & Data
Quay County in New Mexico showed a strong preference for the Republican candidate in the 2020 U.S. Presidential Election, with about 68% of votes. The Democratic candidate earned roughly 30%, while third parties like the Libertarian and Green parties combined for less than 2%. This suggests a conservative tilt that could shape local policies and priorities, reflecting broader political trends affecting governance and community... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Quay County in New Mexico appeared to lean heavily Republican in the 2020 U.S. Presidential Election, with approximately 68% of the votes going to the Republican candidate. The Democratic candidate garnered around 30% of the vote, while smaller factions such as the Libertarian and Green parties captured less than 2% combined. This trend suggests that Quay County may currently favor conservative policies, reflecting broader political inclinations that influence local governance and community priorities.
68.01% of voters voted for the Republican party in the 2020 Presidential Election
30.21% of voters voted for the Democrat party in the 2020 Presidential Election
1.06% of voters voted for the Livertarian party in the 2020 Presidential Election
0.44% of voters voted for the Green party in the 2020 Presidential Election
0.28% of voters voted for the Other party in the 2020 Presidential Election
School Data
Quay County, New Mexico has seen student-to-teacher ratios generally below the national average of 14 students per teacher over the past decade, reaching a low of around nine in 2017 and peaking at over thirteen in 2023. Lower ratios often suggest more personalized education, potentially appealing to families and boosting interest in the local real estate market. This data could be useful for appraisers, real estate agents, and developers as an indicator of community stability and investment... Read more
Student-to-teacher ratio in Quay County, New Mexico over the last 10 years
Quay County, New Mexico has experienced fluctuating student-to-teacher ratios over the past decade, generally remaining below the national average of 14 students per teacher. The ratio dipped to its lowest in 2017 at around nine students per teacher before rising to a peak of over thirteen in 2023. This trend may matter for those considering moving to or investing in the area, as lower student-to-teacher ratios are often associated with more personalized and attentive educational environments, potentially making the county more attractive for families prioritizing quality education. Appraisers and real estate agents might leverage this information to highlight the benefits of smaller class sizes while insurance agents and property developers could view these statistics as indicators of community stability and investment potential.
