Union County Real Estate and Livability Trends
Union County, New Mexico has seen fluctuating real estate trends with median home values peaking at $130,300 in 2021 before dropping to $126,900 in 2022. These cost-effective prices could attract investors looking for lower entry costs. Residential energy tax credits increased from $350.00 in 2013 to $1,250.00 in 2021, indicating a push towards green technologies. Mortgage patterns showed a peak... Read more
Union County Market Trends
Union County, New Mexico has experienced some notable real estate trends over the past eight years. In terms of housing prices, the median value peaked at $130,300 in 2021, but as of 2022, it has dropped to $126,900, which remains significantly lower than both the state and national medians. This price disparity might appeal to investors due to the lower entry costs. On the energy efficiency... Read more
Median Value of Occupied Housing Units in Union County, New Mexico Over the Last 8 Years
Union County, New Mexico has seen some wild fluctuations in home values over the last eight years. The median value dropped significantly in 2018 to $81,300 before climbing to a peak of $130,300 in 2021. Despite some overall growth, Union County's 2022 median value of $126,900 still lags behind New Mexico's $216,000 and the national $179,400. This disparity might present a unique investment opportunity due to lower entry costs compared to both state and national medians.
Residential Energy Tax Credit Per Tax Return in Union County, NM Over the Last 2 Years
Union County, located in New Mexico, has experienced a noteworthy increase in the average residential energy tax credit per tax return over the past two years, leaping from $350.00 in 2013 to $1,250.00 by 2021. This upward trend might suggest a growing investment in energy-efficient home improvements among residents, potentially driven by both state incentives and rising awareness of energy conservation. For potential homebuyers, appraisers, and real estate agents, this could signal an increasing market value for properties that incorporate green technologies. Investors and builders might see this as an opportunity to focus on sustainable construction practices, while insurance agents may need to account for these improvements in their risk assessments and policy offers.
Average Real Estate Taxes Per Tax Return in Union County, NM Over the Last 8 Years
Real estate taxes per tax return in Union County, New Mexico, have shown noticeable fluctuation over the past eight years. In 2012, the average was approximately $838.46, rising to a high of about $1,466.67 in 2018, and settling around $1,233.33 in 2019. These fluctuations could indicate changing property values or tax policies, making it important for potential investors and homeowners to stay updated. With such variability, understanding these trends could be beneficial for appraisers, insurance agents, and those looking to build or purchase property in the area.
Percentage of Farm Returns in Union County, NM Over the Last 10 Years
Union County, New Mexico has shown slight fluctuations in the percentage of farm tax returns over the last decade, hovering around 17% with minor yearly changes. The highest percentage was seen in 2016 at 18.87% which could suggest a particularly good year for farming profits or favorable policies. However, 2020 and 2021 saw a dip to approximately 15.06% and 15.18% respectively. Farm tax returns, which essentially reflect the proportion of tax filings from farming operations, provide valuable insights into the agricultural economy of the area, suggesting potential trends in farm profitability and stability. This data might be crucial for investors, property developers, or residents interested in the economic health and sustainability of farming in Union County.
Number of Mortgages by Occupancy Type in Union County, NM Over the Last 5 Years in Union County
Union County, New Mexico has seen variations in mortgage patterns over the last five years, particularly in principal residences and investment properties. The number of principal residence mortgages peaked notably in 2020 with 126 counts but saw a dramatic drop in 2022 to 71. Investment properties experienced a modest increase in 2021 compared to earlier years but declined again in 2022. These trends might spur caution or interest among real estate investors, as shifts toward or away from certain property types could signal changing local economic conditions or consumer preferences. Appraisers and insurance agents might benefit from understanding these fluctuations as they can influence property valuations and risk assessments. Understanding these dynamics can also assist those considering relocating to the area in making informed decisions about home investments.
Economic Outlook
Union County, New Mexico has experienced notable swings in average taxable income, dipping to $26,033.12 in 2017 before rebounding to $45,443.04 by 2021. This fluctuation is worth noting for investors and real estate agents assessing economic stability and growth. Average state and local income taxes followed a variable trend, peaking at $5,541.67 in 2015 and dropping to $3,850.00 in 2021, likely reflecting changes in local tax policies. Average total tax liabilities have also varied, with... Read more
Average Taxable Income per Tax Return in Union County, NM over the last 9 years
Union County, New Mexico has seen some swings in average taxable income over the last nine years. Notably, the average taxable income per tax return fell dramatically to $26,033.12 in 2017. It rebounded substantially thereafter, reaching a high of $45,443.04 by 2021. This fluctuating trend could be relevant for potential investors and real estate agents who might be assessing local economic stability and growth prospects. For those moving to the area, understanding these changes could be significant in planning financial commitments, such as appraisals and insurance, particularly as the area shows signs of recovery and possibly, new opportunities for economic growth.
Average State and Local Income Taxes Per Tax Return in Union County, NM Over the Last 10 Years
Over the past decade, Union County, New Mexico has seen fluctuations in average state and local income taxes per tax return, starting from $5,221.43 in 2012 to $3,850.00 in 2021. Despite a peak in 2015 at $5,541.67, there was a significant drop to $2,825.00 in 2018, possibly indicating changes in local tax policies or economic conditions. This variable trend could affect financial planning for potential investors, homebuyers, real estate agents, and anyone with a vested interest in the local economy, highlighting the importance of staying informed on tax trends when evaluating Union County for economic activities.
Average Total Tax Liability Per Tax Return in Union County, NM Over the Last 10 Years
Union County, New Mexico, has experienced fluctuating average total tax liabilities per tax return over the past decade, with notable variability. Peaks were seen in 2012 at $6,883.90 and in 2015 at $6,916.95. However, a distinct rise is noted in 2020 with an increase to $7,809.52, potentially indicating an increase in taxable income or property values during that year. For investors, this variability could suggest potential shifts in the local economy and property market trends that may impact long-term financial planning.
Cost of Living in Union County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $993 | $1,255 | $2,438 | $1,375 | $1,230 |
| 1 adult 4 children | $993 | $1,025 | $1,886 | $1,375 | $1,285 |
| 2 adults 3 children | $993 | $1,025 | $2,104 | $1,375 | $977 |
| 1 adult 3 children | $993 | $837 | $1,553 | $1,375 | $1,027 |
| 2 adults 2 children | $795 | $839 | $1,770 | $1,207 | $848 |
| 1 adult 2 children | $795 | $627 | $1,219 | $1,207 | $786 |
| 2 adults 1 child | $795 | $663 | $1,436 | $660 | $767 |
| 1 adult 1 child | $795 | $428 | $885 | $660 | $626 |
| 2 adults | $626 | $533 | $1,103 | $0 | $580 |
| 1 adult | $582 | $291 | $551 | $0 | $509 |
Safety trends & Data
Union County, New Mexico has experienced fluctuating property crime trends. Motor vehicle theft spiked in 2019 with 8.00 incidents, significantly higher than other years. Burglary rates, however, remained consistent with 1.00 incident in both 2019, 2020, and 2022. Arson and larceny-theft, which appeared minimally in 2018, saw diminished occurrences in the following years. Potential investors or new residents could find these insights valuable for assessing risks and security needs in the... Read more
Property Crime Trends in Union County, NM Over the Last 4 Years
Union County, New Mexico has seen fluctuating property crime trends over the last four years, with notable variations in specific crime types. Motor vehicle theft showed a spike in 2019 with 8.00 incidents, significantly higher than other years. Burglary occurrences have remained consistent at 1.00 incident in both 2019, 2020, and 2022. Notably, crimes like arson and larceny-theft, which had minor incidences in 2018, saw a subdued frequency in subsequent years. For those looking to invest, move, or build property in the area, understanding these trends could help gauge potential risks and local security needs, making informed decisions crucial.
Demographics
Union County, New Mexico shows an interesting demographic trend where the male population might slightly outnumber females, reflecting a diverse community. Despite a rural setting, there's some level of educational achievement, with a significant number boasting high school diplomas and a decent fraction holding bachelor's degrees or higher. Age distribution highlights a balanced spread across various age groups, with a notable number of residents in their working age, 25 to 64 years. Racially,... Read more
Race Distribution in Union County, New Mexico (2022)
Educational Attainment in Union County, New Mexico (2022)
Age Distribution in Union County, New Mexico
Citizen Population in Union County, New Mexico (2022)
Political Trends & Data
Union County, New Mexico, leans heavily conservative, with Republicans securing around 77.6% of the vote in the 2020 U.S. Presidential Election. Democrats managed roughly 21.4%, and Libertarians only about 0.6%. Minor parties, including the Green Party, collectively garnered less than 1%. This strong conservative preference may shape local policies and potentially impact the area's real estate market... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Union County, New Mexico, saw a notable trend in the 2020 U.S. Presidential Election where Republicans garnered a sizable majority with about 77.6% of the votes. Democrats trailed significantly, receiving approximately 21.4%, while Libertarians captured a marginal share of around 0.6%. The Green Party and other minor parties collectively made up less than 1% of the total vote. This distribution suggests that Union County may lean heavily conservative, which could influence local and state policy directions.
77.59% of voters voted for the Republican party in the 2020 Presidential Election
21.41% of voters voted for the Democrat party in the 2020 Presidential Election
0.61% of voters voted for the Livertarian party in the 2020 Presidential Election
0.11% 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
Union County, New Mexico, has seen a noteworthy shift in its student-to-teacher ratio, reaching a low of just over 9 students per teacher in 2020, well below the national average of 14. This lower ratio could imply smaller class sizes and more individualized attention for students—a positive factor for prospective residents and investors in education-related properties. For real estate agents and developers, this trend might serve as a selling point for families prioritizing education... Read more
Student-to-teacher ratio in Union County, New Mexico over the last 10 years
The student-to-teacher ratio in Union County, New Mexico, has fluctuated over the past decade, with a notable decrease starting in 2019, reaching its lowest point in 2020 at just over 9 students per teacher, significantly below the national average of 14 students per teacher. This lower ratio could suggest smaller class sizes and potentially more individualized attention for students, often viewed as a positive factor by prospective residents and investors in education-related properties. For real estate agents and developers, these trends might indicate a selling point for families prioritizing education quality. Additionally, for appraisers and insurance agents, the trend might suggest a stable or potentially increasing property value as educational amenities improve, which can influence market assessments and insurance premiums respectively.
