San Miguel County Real Estate and Livability Trends
San Miguel County, New Mexico's average taxable income rose from roughly $36,516.93 in 2013 to about $44,429.25 in 2021, hinting at stable job growth and increasing economic activity. Real estate taxes saw an upward trend in the past decade, peaking around 2019, which could impact investment and valuation strategies. Median home values increased from $121,200 in 2015 to $150,400 in 2022, lagging... Read more
San Miguel County Market Trends
San Miguel County, New Mexico, has seen a steady but slower growth in median home values from $121,200 in 2015 to $150,400 in 2022, falling behind both state and national increases, which could make it attractive for investors seeking undervalued properties. Residential energy tax credits per tax return peaked at $2,440.00 in 2018, hinting at increased investments in energy-efficient upgrades,... Read more
Median Value of Occupied Housing Units in San Miguel County, New Mexico Over the Last 8 Years
San Miguel County, New Mexico, appears to have a slower growth in median home values compared to both the state and the national trends. From 2015 to 2022, the county’s median home values rose from $121,200 to $150,400, reflecting a generally steady increase. Over the same period, New Mexico’s median home values jumped from $160,300 to $216,000, while the national median escalated from $125,500 to $179,400. This relatively modest appreciation in San Miguel County could be an attractive opportunity for investors seeking undervalued properties compared to the broader market trends.
Residential Energy Tax Credit Per Tax Return in San Miguel County, NM Over the Last 9 Years
San Miguel County, New Mexico, has seen significant fluctuations in residential energy tax credits per tax return over the past nine years, peaking at $2,440.00 in 2018. Sharp increases, like those in 2017 and 2018, suggest growing investments in energy-efficient home improvements, which could be attractive for investors and property developers aiming for sustainable housing. The trend towards higher average credits in recent years points to a robust county effort to support and incentivize energy conservation measures. This pattern is crucial for real estate agents and appraisers, as it could influence property values and buyer behavior in the area.
Average Real Estate Taxes Per Tax Return in San Miguel County, NM Over the Last 10 Years
In San Miguel County, New Mexico, average real estate taxes per tax return saw a fluctuating but generally upward trend over the past decade. Starting at approximately $1,658.43 in 2012, the figure rose to a peak of about $2,636.11 in 2019 before slightly decreasing to $2,233.33 in 2021. The marked increase around 2016 to 2019 could suggest changes in property values or tax regulations. This variability might be of particular interest to real estate investors, appraisers, and insurance agents, influencing decisions on property investment, valuation, and risk assessment in the region.
Percentage of Farm Returns in San Miguel County, NM Over the Last 10 Years
Farm tax returns in San Miguel County, New Mexico have shown a gradual decline over the past decade, with percentages dropping from 4.70% in 2012 to around 3.37% in 2021. This dip in filed farm tax returns might reflect broader changes in the agricultural sector, including shifts in farm profitability, potential urbanization, or changing demographic patterns. For potential investors, property developers, or new residents, these trends could suggest a changing economic landscape, where agriculture may not be as dominant as it once was. The decrease in farm tax returns could offer investment opportunities in other emerging sectors or highlight the need to support and revitalize local farming initiatives. Understanding these shifts is crucial for making informed decisions about business investments or relocation to the area.
Number of Mortgages by Occupancy Type in San Miguel County, NM Over the Last 5 Years in San Miguel County
Over the last five years, San Miguel County, New Mexico has seen fluctuations in the number of mortgages across different occupancy types. Principal residences have consistently dominated the mortgage market, peaking in 2021 with over 1,000 mortgages, which subsequently dropped to around 774 in 2022. Mortgages for investment properties showed a slight decline, with a notable dip in 2020, and have remained relatively low compared to principal residences. Second residences saw a peak in 2020 before significantly dropping in 2022. These shifts can impact various stakeholders; investors may notice less competition and could capitalize on lower mortgage counts for investment properties, while potential homeowners should be mindful of the higher demand and decreasing mortgage numbers for primary residences, indicating possible climbing prices or stricter lending practices. Appraisers, insurance agents, and real estate agents must stay attuned to these trends to accurately assess property values and market dynamics.
Economic Outlook
San Miguel County, New Mexico has seen the average taxable income per tax return rise from roughly $36,516.93 in 2013 to about $44,429.25 in 2021, suggesting a steady boost in economic activity and possibly stable job growth. State and local income taxes have also generally increased, with notable spikes in 2018 and 2020. Meanwhile, the average total tax liability per tax return has trended upward, despite some fluctuations, peaking at around $5,583.59 in 2020. This increasing financial... Read more
Average Taxable Income per Tax Return in San Miguel County, NM over the last 9 years
Over the past nine years, the average taxable income per tax return in San Miguel County, New Mexico, has shown a general upward trend, rising from about $36,516.93 in 2013 to approximately $44,429.25 in 2021. This indicates a gradual increase in the county's economic activity and possibly stable job growth. Notable increases have been observed particularly from 2018 onwards, suggesting favorable conditions for potential investors and real estate developers. This upward income trajectory might also interest insurance agents and appraisers when considering the financial stability of residents in this area.
Average State and Local Income Taxes Per Tax Return in San Miguel County, NM Over the Last 10 Years
Over the past decade, average state and local income taxes per tax return in San Miguel County, New Mexico have generally trended upward. Noteworthy spikes occurred in 2018 and 2020, where values reached approximately $4,395.45 and $4,441.67, respectively. This steady increase might indicate growing fiscal pressures or changes in local tax policies, which could be relevant for investors, real estate agents, and those considering relocating to the area. Such tax trends are vital for planning long-term financial commitments, influencing decisions on property investments and cost of living estimations.
Average Total Tax Liability Per Tax Return in San Miguel County, NM Over the Last 10 Years
San Miguel County, New Mexico has shown a fluctuating yet generally increasing trend in average total tax liability per tax return over the past decade. The tax liability hovered around $5,220.00 in 2012 and saw some dips, like in 2013 at approximately $4,929.34, but has risen notably in recent years, peaking at around $5,583.59 in 2020. This steady uptick may suggest economic growth or changes in income levels, making it a potentially lucrative area for real estate investors and property developers. Such data can also inform insurance agents and appraisers about the financial dynamics of the area, contributing to more accurate assessments and tailored services.
Cost of Living in San Miguel County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,055 | $1,408 | $2,438 | $1,391 | $1,247 |
| 1 adult 4 children | $1,055 | $1,149 | $1,886 | $1,391 | $1,290 |
| 2 adults 3 children | $1,055 | $1,150 | $2,104 | $1,391 | $986 |
| 1 adult 3 children | $1,055 | $939 | $1,553 | $1,391 | $1,023 |
| 2 adults 2 children | $795 | $941 | $1,770 | $1,221 | $827 |
| 1 adult 2 children | $795 | $703 | $1,219 | $1,221 | $745 |
| 2 adults 1 child | $795 | $744 | $1,436 | $668 | $739 |
| 1 adult 1 child | $795 | $481 | $885 | $668 | $589 |
| 2 adults | $704 | $598 | $1,103 | $0 | $577 |
| 1 adult | $676 | $326 | $551 | $0 | $507 |
Safety trends & Data
San Miguel County, New Mexico has seen notable fluctuations in property crimes over the past five years. Larceny-theft spiked to 49 incidents in 2022, a significant increase from previous years, while vandalism incidents also rose sharply to 22. Burglary incidents peaked in 2019 at 12 reported cases, and there have been recent increases in motor vehicle theft and fraud. These trends could influence investing strategies, property valuations, and insurance premiums, presenting both challenges and... Read more
Property Crime Trends in San Miguel County, NM Over the Last 5 Years
San Miguel County, New Mexico has experienced fluctuating trends in property crimes over the last five years, showing a noticeable spike in larceny-theft in 2022 with 49 incidents reported, significantly up from prior years. Vandalism cases also saw a sharp increase, reaching 22 incidents in 2022. Burglary numbers have varied, peaking in 2019 at 12 reported events, and noted increases in motor vehicle theft and fraud in recent times. These shifts might impact investing strategies, property valuations, and insurance premiums, making the location both a challenge and an opportunity for various stakeholders.
Demographics
San Miguel County, New Mexico presents a nearly balanced gender distribution among adults, with males slightly outnumbering females. Educational attainment trends indicate a significant portion of the population has some college experience but no degree, alongside a valuable mix of high school graduates and those holding bachelor's or higher degrees. Age distribution shows a large segment in the 55 to 64 age range, which might hint at a maturing population that could influence local services... Read more
Race Distribution in San Miguel County, New Mexico (2022)
Educational Attainment in San Miguel County, New Mexico (2022)
Age Distribution in San Miguel County, New Mexico
Citizen Population in San Miguel County, New Mexico (2022)
Political Trends & Data
In San Miguel County, New Mexico, the 2020 U.S. Presidential Election revealed a significant Democratic preference, with approximately 68.4% of the votes going to Democratic candidates. Republicans trailed at around 29.7%, suggesting a predominant Democratic-leaning electorate. Minor parties, including Libertarians and Greens, struggled for traction, each receiving less than 1% of the vote. This political slant could potentially influence local policies and real estate market trends, shaping... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In San Miguel County, New Mexico, the 2020 U.S. Presidential Election results suggest a strong preference for Democratic candidates, capturing approximately 68.4% of the vote. Republicans garnered around 29.7%, indicating a significant gap between the two major parties. Minor parties like the Libertarian and Green parties trailed considerably, each securing less than 1% of the vote. This trend might point to a predominantly Democratic-leaning electorate in this area.
29.67% of voters voted for the Republican party in the 2020 Presidential Election
68.41% of voters voted for the Democrat party in the 2020 Presidential Election
1.00% of voters voted for the Livertarian party in the 2020 Presidential Election
0.49% of voters voted for the Green party in the 2020 Presidential Election
0.43% of voters voted for the Other party in the 2020 Presidential Election
School Data
San Miguel County, New Mexico has seen significant swings in its student-to-teacher ratio over the past decade, jumping from around 14:1 in 2014 to nearly 21:1 in 2019, before a brief dip to approximately 15:1 in 2021 and 2022, and then surging to almost 26:1 in 2023. This inconsistency could potentially affect the quality of education, possibly influencing families and investors considering the... Read more
Student-to-teacher ratio in San Miguel County, New Mexico over the last 10 years
San Miguel County, New Mexico has experienced notable fluctuations in its student-to-teacher ratio over the past decade. The ratio started at approximately 14 students per teacher in 2014, close to the national average of 14. It peaked at nearly 21 in 2019, and although it briefly decreased to around 15 in 2021 and 2022, it skyrocketed to almost 26 in 2023. This variability may potentially impact the quality of education and educational outcomes, which could be a critical consideration for families, investors, real estate agents, and other stakeholders interested in the area.
