Elko County Real Estate and Livability Trends
Elko County, Nevada's real estate market shows intriguing trends; median home values have surged from $184,600 in 2015 to $274,200 by 2022, reflecting robust growth that outpaces national averages. The area’s rising average taxable income, hitting around $79,364.13 in 2021, and increased state and local income taxes per return exemplify a growing local economy which could appeal to investors.... Read more
Elko County Market Trends
Median home values in Elko County, Nevada, have increased steadily from $184,600 in 2015 to $274,200 in 2022, indicating robust growth that outpaces national trends. However, residential energy tax credits per tax return peaked dramatically at $4,971.43 in 2018, then tapered to $1,519.35 in 2021, suggesting varying policies on energy-efficient home improvements. Real estate taxes more than... Read more
Median Value of Occupied Housing Units in Elko County, Nevada Over the Last 8 Years
Median home values in Elko County, Nevada, have seen a steady increase over the past eight years, jumping from $184,600 in 2015 to $274,200 in 2022. This track suggests robust growth compared to both the state of Nevada, where homes went from $173,700 to $373,800, and the national median, which increased from $125,500 to $179,400 during the same period. Elko County's housing market performance may reflect regional economic factors and could be appealing for potential investors looking for growth areas that, while not matching the state's rapid pace, still outperform national trends.
Residential Energy Tax Credit Per Tax Return in Elko County, NV Over the Last 9 Years
Over the past decade, Elko County, Nevada has seen significant fluctuations in residential energy tax credits per tax return, peaking dramatically at $4,971.43 in 2018 and then leveling out to around $1,519.35 in 2021. This variability may suggest evolving incentives and policies concerning energy-efficient home improvements, making it crucial for investors, homebuyers, and professionals in the real estate and insurance sectors to stay updated with these trends. Anomalies like the 2018 peak could reflect substantial state or federal incentives that might not be consistent year-to-year.
Average Real Estate Taxes Per Tax Return in Elko County, NV Over the Last 10 Years
Over the past decade, Elko County, Nevada has seen a notable increase in average real estate taxes per tax return, jumping from approximately $1,744.05 in 2012 to over $3,253.68 in 2021. The most significant surge occurred between 2017 and 2018, where taxes climbed from around $2,333.84 to $3,114.29. This trend may indicate a rising demand for properties, potentially driven by factors such as economic growth or increased public services. For investors, real estate agents, and builders, this suggests that property values—and the concurrent tax obligations—are likely to continue to rise, which could point to a robust, albeit costly, investment environment. Such trends are crucial for appraisers and insurance agents to assess risk and value accurately.
Percentage of Farm Returns in Elko County, NV Over the Last 10 Years
Elko County, Nevada has seen a relatively stable trend in farm tax returns over the last decade, ranging mostly between 1.83% and 2.10%. Small fluctuations are present, with a slight peak at 2.10% in 2016. This stability in farm tax returns suggests a consistent agricultural activity, which could be favorable for potential investors or those looking to develop agricultural properties in the region. Farm tax returns typically reflect the overall agricultural productivity and financial stability of farming operations, indicating a potentially reliable agricultural sector in Elko County.
Number of Mortgages by Occupancy Type in Elko County, NV Over the Last 5 Years in Elko County
Elko County has seen consistent demand for principal residences over the past five years with a notable peak during 2021. Investment properties have fluctuated modestly but have generally stayed within a narrow range, suggesting stable but limited interest. Second residences remain the least common, with negligible changes in volume, indicating limited market focus. These trends hint at a community centered around permanent residency rather than speculative or seasonal housing, which could appeal to potential homebuyers looking for stable neighborhoods. For investors, the relatively low activity in second homes and investment properties may imply lower competition but also fewer opportunities for short-term gains. Understanding these dynamics can guide appraisers and insurance agents in evaluating the risk and value of properties in the area.
Economic Outlook
Elko County, Nevada's consistent rise in average taxable income per tax return, from about $64,399.62 in 2013 to around $79,364.13 by 2021, suggests a growing local economy which might be enticing for investors and new residents. The shift in average state and local income taxes per tax return, peaking at $7,550.00 in 2020, could indicate increasing incomes, further making the area appealing for real estate stakeholders. Additionally, the general upward trajectory in total tax liability per... Read more
Average Taxable Income per Tax Return in Elko County, NV over the last 9 years
Elko County, Nevada has seen a consistent uptick in average taxable income per tax return over the past nine years. Starting at approximately $64,399.62 in 2013, the figure rose steadily each year, reaching around $79,364.13 by 2021. This upward trend hints at a potentially growing local economy, which could be attractive for real estate investors and those looking to move to an area with increasing income levels. Insurers and appraisers might find this growth noteworthy when evaluating property values and setting premiums.
Average State and Local Income Taxes Per Tax Return in Elko County, NV Over the Last 10 Years
Elko County, Nevada, has shown a clear upward trend in average state and local income taxes per tax return over the last decade. Starting at $3,608.33 in 2012, the amount fluctuated but eventually surged to $7,550.00 by 2020, leveling off to $6,381.82 in 2021. This data could signal a growing local economy or rising incomes, intriguing potential investors, real estate agents, and those considering relocating. Ensuring proper budgeting for taxes will be essential for anyone involved in the region's property market.
Average Total Tax Liability Per Tax Return in Elko County, NV Over the Last 10 Years
Over the past decade, Elko County, Nevada has seen a fluctuating yet generally upward trend in the average total tax liability per tax return. Starting at around $9,883.22 in 2012, figures reached nearly $11,747.34 by 2021. Notable increases occurred in 2015 and 2021, reflecting economic shifts impacting residents' taxable incomes. This trend may suggest a growing economy or rising income levels, making it a potentially attractive area for real estate investment, insurance assessment, and property development.
Cost of Living in Elko County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,749 | $1,504 | $2,163 | $1,887 | $1,509 |
| 1 adult 4 children | $1,749 | $1,228 | $1,675 | $1,887 | $1,673 |
| 2 adults 3 children | $1,749 | $1,229 | $1,867 | $1,887 | $1,266 |
| 1 adult 3 children | $1,749 | $1,003 | $1,378 | $1,887 | $1,409 |
| 2 adults 2 children | $1,300 | $1,006 | $1,571 | $1,636 | $971 |
| 1 adult 2 children | $1,300 | $751 | $1,082 | $1,636 | $1,027 |
| 2 adults 1 child | $1,300 | $795 | $1,274 | $821 | $834 |
| 1 adult 1 child | $1,300 | $513 | $785 | $821 | $760 |
| 2 adults | $991 | $639 | $978 | $0 | $658 |
| 1 adult | $869 | $348 | $489 | $0 | $546 |
Safety trends & Data
Elko County, Nevada has experienced variable property crime rates over the last five years, with larceny-theft and motor vehicle theft hitting notable highs in 2020 at 105 and 29 reported incidents, respectively. Burglary incidents peaked with 34 cases in 2019 but have declined consistently to just 13 cases in 2022. Arson and embezzlement have stayed minimal, never surpassing 2 or 9 incidents annually. These trends might suggest shifting vulnerabilities in property security and could influence... Read more
Property Crime Trends in Elko County, NV Over the Last 5 Years
Elko County, Nevada has seen fluctuating property crime rates over the past five years, with notable spikes in larceny-theft and motor vehicle theft in 2020, reaching 105 and 29 reported incidents respectively. Burglary incidents peaked in 2019 with 34 cases but have seen a consistent decline since, ending at just 13 cases in 2022. Interestingly, arson and embezzlement have remained marginal concerns, never rising above 2 or 9 incidents per year. These trends could indicate varying vulnerabilities in property security and law enforcement focus, which may impact investment decisions and the perception of safety for potential residents and businesses.
Demographics
Elko County, Nevada's demographic landscape reveals a somewhat even gender distribution with males slightly outnumbering females. The educational attainment data underscore a significant portion of the population achieving at least a high school diploma, but higher education degrees remain less common. The age distribution suggests a sizable young demographic, particularly those under 10 years. Racial diversity is present, though the population tends to be predominantly White, with notable... Read more
Race Distribution in Elko County, Nevada (2022)
Educational Attainment in Elko County, Nevada (2022)
Age Distribution in Elko County, Nevada
Citizen Population in Elko County, Nevada (2022)
Political Trends & Data
Elko County in Nevada exhibited a significant Republican preference in the 2020 U.S. Presidential Election, with the party capturing over 76% of the vote. Democrats received roughly 20.7%, while minor parties like the Libertarian barely made a dent. This conservative stronghold might shape local political dynamics and influence decisions that affect residents' daily lives, showing potential impacts on everything from zoning laws to fiscal... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Elko County in Nevada showed a significant leaning towards the Republican party, which seemingly secured over 76% of the vote in the 2020 U.S. Presidential Election. The Democrats might have garnered around 20.7%, while minor parties such as the Libertarian and other smaller factions collectively took a fraction of the vote, barely influencing the overall outcome. This trend indicates that Elko County could be a stronghold for conservative values and policies, potentially influencing local political dynamics and decision-making processes.
76.21% of voters voted for the Republican party in the 2020 Presidential Election
20.75% of voters voted for the Democrat party in the 2020 Presidential Election
1.70% of voters voted for the Livertarian party in the 2020 Presidential Election
1.34% of voters voted for the Other party in the 2020 Presidential Election
School Data
Elko County, Nevada's student-to-teacher ratios have generally fluctuated between 15 to 18 students per teacher, higher than the national average of 14. Peaks in 2015 and 2019 indicate periods of potentially overcrowded classrooms. These trends may impact property values, school funding, and community resource planning, making them crucial for investors and residents to... Read more
Student-to-teacher ratio in Elko County, Nevada over the last 9 years
Elko County, Nevada has seen varying student-to-teacher ratios over the last nine years, with a notable spike in 2015 and 2019. Except for these outlier years, the ratios have primarily remained in the mid-teens, fluctuating between about 15 to 18 students per teacher, which suggests greater student density per teacher compared to the national average of 14 students. For those investing, building, or living in Elko County, understanding these shifts can indicate periods of either overcrowded classrooms or better teacher availability. These nuances can affect property value assessments, school funding priorities, and community resource planning.
