Sandoval County Real Estate and Livability Trends
Sandoval County, New Mexico has seen impressive growth in average taxable income per tax return, rising to $73,376.36 in 2021, which might signal economic stability and attract developers. Median home values have surged from $177,400 in 2015 to $258,100 in 2022, outpacing state and national medians. The number of mortgages on principal residences nearly doubled by 2021, suggesting rising property... Read more
Sandoval County Market Trends
Median home values in Sandoval County, New Mexico, have surged, climbing from $177,400 in 2015 to $258,100 in 2022, outpacing both state and national medians. Residential energy tax credits have also spiked, peaking at $3,810.45 in 2018, which could indicate a rising trend in eco-friendly home improvements and potential property value increases. Real estate taxes have consistently risen, moving... Read more
Median Value of Occupied Housing Units in Sandoval County, New Mexico Over the Last 8 Years
Median home values in Sandoval County, New Mexico, have shown a robust upward trajectory over the past eight years, jumping from $177,400 in 2015 to $258,100 in 2022. This growth outpaces both the state of New Mexico and the national median, which increased from $160,300 to $216,000 and from $125,500 to $179,400, respectively. For investors, homebuyers, and developers, Sandoval County represents a dynamic market with significant appreciation potential, suggesting a strong return on investment and increasing property demand in the area.
Residential Energy Tax Credit Per Tax Return in Sandoval County, NM Over the Last 9 Years
Over the last nine years, residential energy tax credits per tax return in Sandoval County, New Mexico, have shown a notable increase, peaking in 2018 at $3,810.45 before stabilizing slightly. This trend suggests a growing investment in energy-efficient home improvements, potentially reflecting broader homeowner interest in sustainability and associated cost savings. For prospective investors, builders, and real estate agents, this could indicate a market trend toward environmentally friendly properties, potentially driving up property values and appeal. Insurance agents and appraisers might also find this data relevant for assessing the evolving risk profiles and values of homes in the area.
Average Real Estate Taxes Per Tax Return in Sandoval County, NM Over the Last 10 Years
Over the last decade, Sandoval County, New Mexico has experienced a consistent upward trend in average real estate taxes per tax return, with a notable increase from $2,570.33 in 2012 to $3,914.46 in 2021. This steady rise, especially the significant jumps seen from 2018 onward, could indicate growing property values and might reflect the county's escalating real estate market. For potential investors, residents, developers, and real estate professionals, understanding these local tax trends could provide valuable insights into the area's economic trajectory and real estate dynamics.
Percentage of Farm Returns in Sandoval County, NM Over the Last 10 Years
Farm tax returns in Sandoval County, New Mexico have shown a slight decline over the past decade. In 2012, about 0.66% of returns were farm-related, and this number has gradually dipped to roughly 0.50% in 2021. While slight fluctuations occurred, the overall trend is a modest decrease. For those interested in agriculture-based investments, this trend may signal a shift in the local economy or changes in farming practices. Considering building or investing in property here might require checking other economic factors and whether this decline could impact broader market conditions.
Number of Mortgages by Occupancy Type in Sandoval County, NM Over the Last 5 Years in Sandoval County
Over the last five years, Sandoval County, New Mexico has seen a notable increase in the number of mortgages, especially for principal residences, which ballooned from 7,880 in 2018 to 15,838 by 2021. While investment properties also saw a general uptick, the numbers are considerably lower in comparison, with a peak of 624 in 2021. Second residences consistently remain the smallest category. These shifts might suggest changing dynamics in the county's real estate market, which could be crucial for investors, appraisers, and insurance agents in making informed decisions. An increase in primary residences could indicate a growing community appeal, potentially driving up property values and impacting insurance risks. Conversely, the fluctuating interest in investment properties might reflect broader economic trends and market opportunities. Understanding these dynamics offers valuable context for anyone involved in or monitoring Sandoval County's property market.
Economic Outlook
Sandoval County, New Mexico has observed notable growth in average taxable income per tax return, rising from $55,410.96 in 2013 to $73,376.36 in 2021. This could signal increasing economic stability and a potentially more affluent population, which may attract property developers and investors. Moreover, the county has seen a general upward trend in state and local income taxes, with a significant increase in 2018, possibly indicating local policy changes or economic shifts. Average total tax... Read more
Average Taxable Income per Tax Return in Sandoval County, NM over the last 9 years
Sandoval County, New Mexico has observed a notable increase in the average taxable income per tax return over the past nine years. From $55,410.96 in 2013 to $73,376.36 in 2021, the area has seen steady growth, particularly between 2019 and 2021. This upward trend could be of significant interest to potential investors or property developers, as it suggests increasing economic stability and a potentially more affluent population. For appraisers and insurance agents, this income growth may signal rising property values and the need for updated coverage and valuations. Real estate agents might also find this trend useful for targeting marketing efforts and understanding the evolving financial landscape of the area.
Average State and Local Income Taxes Per Tax Return in Sandoval County, NM Over the Last 10 Years
Over the past decade, Sandoval County, New Mexico, has seen a general upward trend in average state and local income taxes per tax return, starting at approximately $4,075.48 in 2012 and rising to around $7,463.18 by 2021. Notably, there was a significant jump in 2018, where taxes increased by over $1,394.19 from the previous year, indicating potential local policy changes or economic shifts. This could be crucial data for potential investors, real estate agents, or anyone looking to move to the area, as it provides a clearer picture of the evolving tax landscape and its potential impact on cost of living and business operations.
Average Total Tax Liability Per Tax Return in Sandoval County, NM Over the Last 10 Years
The data shows a general upward trend in average total tax liability per tax return in Sandoval County, New Mexico over the past decade, rising from $8,455.47 in 2012 to $11,006.38 in 2021. Although there were minor fluctuations, such as slight decreases in 2015 and 2018, the overall increase suggests growing incomes or adjusted tax rates in the area. This trend matters for potential investors, property developers, and real estate agents, as it may indicate an increase in local economic growth or changes in tax policy, both of which could impact property values and market dynamics.
Cost of Living in Sandoval County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,961 | $1,464 | $1,594 | $1,909 | $1,667 |
| 1 adult 4 children | $1,961 | $1,195 | $1,230 | $1,909 | $1,836 |
| 2 adults 3 children | $1,961 | $1,196 | $1,377 | $1,909 | $1,439 |
| 1 adult 3 children | $1,961 | $976 | $1,014 | $1,909 | $1,627 |
| 2 adults 2 children | $1,380 | $979 | $1,161 | $1,678 | $1,067 |
| 1 adult 2 children | $1,380 | $731 | $797 | $1,678 | $1,143 |
| 2 adults 1 child | $1,380 | $774 | $944 | $928 | $944 |
| 1 adult 1 child | $1,380 | $500 | $580 | $928 | $844 |
| 2 adults | $1,136 | $622 | $728 | $0 | $672 |
| 1 adult | $923 | $339 | $364 | $0 | $574 |
Safety trends & Data
Sandoval County, New Mexico, has seen mixed property crime trends over the past five years, which could impact investments and insurance costs. While arson peaked at 5 in 2018 but dropped to 1 in 2022, burglary arrests fell from 64 to 35 in the same period. However, larceny-theft incidents surged from 63 in 2018 to 345 in 2022, and vandalism cases rose from 68 to 102. Motor vehicle theft notably decreased from 36 in 2018 to 12 in 2022. These nuanced changes suggest potential shifts in local... Read more
Property Crime Trends in Sandoval County, NM Over the Last 5 Years
Sandoval County, New Mexico, has seen fluctuating property crime rates over the past five years. Arson numbers remained relatively low, with a peak of 5 in 2018 dropping to 1 in 2022. Burglary arrests saw a decline from 64 in 2018 to 35 in 2022. Larceny-theft incidents had an interesting surge, peaking at 345 in 2022 compared to a lower 63 in 2018. Vandalism also rose from 68 cases in 2018 to 102 in 2022. Notably, trends in fraud and embezzlement were fairly stable, but a nuanced drop in motor vehicle theft was observed, falling from 36 in 2018 to 12 in 2022. For stakeholders, these mixed trends could signal shifts in local safety, worth considering for investments, property development, and insurance premiums.
Demographics
Sandoval County, New Mexico, has a balanced gender ratio with nearly equal numbers of males and females. A significant portion of the population holds at least a high school diploma, with a notable number possessing college or advanced degrees. The age distribution suggests a relatively even spread across different age groups, with the majority being adults between 25 and 64 years. Racial diversity is present, though the population is predominantly White, followed by a substantial community of... Read more
Race Distribution in Sandoval County, New Mexico (2022)
Educational Attainment in Sandoval County, New Mexico (2022)
Age Distribution in Sandoval County, New Mexico
Citizen Population in Sandoval County, New Mexico (2022)
Political Trends & Data
Sandoval County, New Mexico, leans slightly Democratic with around 53% of the 2020 Presidential votes favoring the party, yet Republicans closely trailed with about 45%. Libertarian candidates made a small yet notable impact with around 1.5% of the vote, and other minor parties collectively accounted for less than 1%. This closely-contested political environment suggests that the county's real estate market may benefit from appealing to a politically diverse population, potentially attracting... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Sandoval County, New Mexico, the 2020 Presidential election saw a significant lean towards the Democratic party with approximately 53% of the vote. Republicans garnered around 45%, indicating a closely-contested political landscape. Libertarian candidates secured a small yet notable share at roughly 1.5%, while Green and other parties collectively made up less than 1% of the votes. This data may suggest that Sandoval County leans slightly Democratic but remains competitive.
44.64% of voters voted for the Republican party in the 2020 Presidential Election
53.01% of voters voted for the Democrat party in the 2020 Presidential Election
1.55% of voters voted for the Livertarian party in the 2020 Presidential Election
0.46% of voters voted for the Green party in the 2020 Presidential Election
0.34% of voters voted for the Other party in the 2020 Presidential Election
School Data
Over the last decade, Sandoval County, New Mexico has seen the student-to-teacher ratio generally hover around the national average, peaking at 14.71 in 2018 and recently settling at 13.31 in 2023. Stable or declining class sizes could signal a commitment to quality education, which often influences property values and community appeal. For those looking to build or move to Sandoval County, these metrics suggest an environment supportive of both educational and long-term residential... Read more
Student-to-teacher ratio in Sandoval County, New Mexico over the last 10 years
Over the last decade, the student-to-teacher ratio in Sandoval County, New Mexico has generally hovered around the national average, peaking at 14.71 in 2018 and most recently settling at 13.31 in 2023. This trend indicates that class sizes in Sandoval County have remained competitive, potentially offering a more personalized educational experience. For investors, appraisers, real estate agents, and prospective residents, stable or declining class sizes could signal a commitment to quality education, which often influences property values and community appeal. For those looking to build or move to Sandoval County, these metrics suggest an environment supportive of both educational and long-term residential stability.
