Allegany County Real Estate and Livability Trends
Allegany County, New York, has seen median home values rise from $70,300 in 2015 to $93,200 in 2022, making it more affordable than the state and national medians. An upward trend in the average taxable income per tax return, from $44,905.70 in 2013 to $55,877.19 in 2021, suggests a strengthening local economy, appealing to investors and potential new residents. The percentage of farm tax returns... Read more
Allegany County Market Trends
Allegany County, New York has experienced a steady increase in median home values, rising from $70,300 in 2015 to $93,200 in 2022, making it significantly more affordable than the state median of $384,100 and the national median of $179,400 in 2022. Residential energy tax credits in the county have exhibited notable volatility, with a dramatic spike from $243.75 in 2013 to $3,375.00 in 2018,... Read more
Median Value of Occupied Housing Units in Allegany County, New York Over the Last 8 Years
Allegany County, New York has seen a gradual increase in median home values, rising from $70,300 in 2015 to $93,200 in 2022. While this growth trend mirrors broader upward movements in property values, it remains significantly more affordable than both state and national medians, with New York State at $384,100 and the national median at $179,400 in 2022. This suggests potential opportunities for investors and buyers looking for value in a still-appreciating market while possibly offering lower entry costs compared to the broader region and country.
Residential Energy Tax Credit Per Tax Return in Allegany County, NY Over the Last 9 Years
Residential energy tax credits in Allegany County, New York, have shown significant variability over the past nine years. The average credits per tax return started at $243.75 in 2013 and saw a remarkable spike to $3,375.00 in 2018. This volatility could be important for potential investors and residents seeking to assess the financial incentives related to energy-efficient upgrades in the area. The trend also hints at possible legislative or incentive shifts that may impact property valuations and insurance considerations in the county.
Average Real Estate Taxes Per Tax Return in Allegany County, NY Over the Last 10 Years
Over the past decade, Allegany County, New York has seen noticeable fluctuations in average real estate taxes per tax return. Starting at approximately $4,666.36 in 2012, the taxes experienced a steady rise, peaking in 2019 at around $7,172.50, before slightly dropping to roughly $6,394.12 by 2021. This volatile trend might suggest underlying economic or policy changes impacting property taxation in the county, which could be crucial for potential investors, new residents, real estate agents, and others with a vested interest in the area's real estate climate.
Percentage of Farm Returns in Allegany County, NY Over the Last 10 Years
Over the last decade, Allegany County in New York has seen fluctuations in the percentage of farm tax returns, ranging from approximately 3.1% to 3.5% annually. The percentage peaked in 2016 at roughly 3.5% before experiencing a gradual decline to around 3.2% by 2021. Farm tax returns are a reflection of the agricultural activity and economic health of farms within the county, serving as an indirect indicator of farming viability and investment potential in the area. For those eyeing investment, relocation, or development in Allegany County, these trends offer a glimpse into the consistency and potential growth of the local agricultural sector.
Number of Mortgages by Occupancy Type in Allegany County, NY Over the Last 5 Years in Allegany County
In Allegany County, New York, the number of mortgages for principal residences has consistently been the highest over the past five years, showing a steady increase from 776 in 2018 to a peak of 1036 in 2021 before slightly declining to 895 in 2022. Investment properties and second residences have remained relatively stable but much lower in volume, with investment properties peaking at 40 in 2021 and second residences at 82 in the same year. This trend could suggest a strong demand for primary housing in the county, possibly driven by factors such as employment opportunities, community developments, or quality of life improvements. For investors, this may indicate a robust rental market due to the lower competition in investment properties. Appraisers and insurance agents should note these trends for accurate property valuations and risk assessments. Real estate agents and builders might find this data useful to cater their strategies towards the evident demand in primary residences.
Economic Outlook
Allegany County, New York, showcases an upward trend in average taxable income per tax return, rising from $44,905.70 in 2013 to $55,877.19 in 2021. This increase might signal a strengthening local economy, appealing to investors and potential new residents. Fluctuations in state and local income taxes have shown significant variability, peaking at approximately $13,058.82 in 2018 before stabilizing to the range of $10,157.14-$12,455.56 between 2019 and 2021. Meanwhile, average total tax... Read more
Average Taxable Income per Tax Return in Allegany County, NY over the last 9 years
Allegany County, New York has seen a steady increase in average taxable income per tax return over the past nine years. Starting at $44,905.70 in 2013, the figure has risen to $55,877.19 by 2021. This trend can be indicative of a strengthening local economy, which may attract investors, property developers, and new residents. For real estate agents or insurance agents, this upward trajectory suggests a potentially more affluent clientele emerging in the area. Appraisers might also note that rising incomes could translate into higher property values, altering market dynamics and investment strategies.
Average State and Local Income Taxes Per Tax Return in Allegany County, NY Over the Last 10 Years
Over the past decade, Allegany County, New York experienced notable fluctuations in average state and local income taxes per tax return. The tax amounts ranged from a low of about $5,701.95 in 2014 to a significant spike reaching approximately $13,058.82 in 2018, indicative of potential economic shifts or legislative changes impacting taxpayers. More recently, tax values hovered between $10,157.14 and $12,455.56, hinting at a relatively high but somewhat stabilized tax environment from 2019 to 2021. These trends could be pivotal for potential investors, real estate agents, and residents considering the financial landscape of the area.
Average Total Tax Liability Per Tax Return in Allegany County, NY Over the Last 10 Years
Over the past decade, Allegany County, New York has seen fluctuations in average total tax liability per tax return. The liability ranged from approximately $5,791.57 in 2013 to as high as $7,155.04 in 2017, indicating some economic volatility. Despite these variations, the recent years have stabilized around $7,097.96 in 2021, suggesting a more consistent economic landscape. Understanding this trend can be crucial for investors, potential residents, and professionals assessing the financial climate of the county.
Cost of Living in Allegany County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,028 | $1,508 | $1,287 | $1,610 | $1,113 |
| 2 adults 3 children | $1,028 | $1,232 | $1,254 | $1,610 | $927 |
| 1 adult 4 children | $1,028 | $1,232 | $805 | $1,610 | $1,196 |
| 1 adult 3 children | $1,028 | $1,006 | $771 | $1,610 | $996 |
| 2 adults 2 children | $826 | $1,008 | $1,221 | $1,396 | $873 |
| 1 adult 2 children | $826 | $753 | $738 | $1,396 | $820 |
| 2 adults 1 child | $826 | $797 | $1,188 | $698 | $830 |
| 1 adult 1 child | $826 | $515 | $705 | $698 | $657 |
| 2 adults | $669 | $640 | $862 | $0 | $646 |
| 1 adult | $616 | $349 | $431 | $0 | $561 |
Safety trends & Data
Over the past four years, property crime in Allegany County, New York has seen variable trends. Larceny-theft is the most common issue, peaking at 62 incidents in 2022 after hitting a low of 26 in 2020. Vandalism also saw a notable high of 38 occurrences in 2022. Burglary and fraud experienced less dramatic changes, but motor vehicle theft spiked to 14 cases in 2020 before dropping. Arson incidents remain rare. These statistics may influence real estate agents and insurance companies when... Read more
Property Crime Trends in Allegany County, NY Over the Last 4 Years
Over the past four years, Allegany County, New York has seen a fluctuating trend in property crime. The most common crime has consistently been larceny-theft, peaking at 62 incidents in 2022 after a dip to 26 in 2020. Vandalism also shows more erratic patterns, with a notable high of 38 occurrences in 2022. Crimes such as burglary and fraud have shown less drastic changes, though it's worth noting the spike in motor vehicle theft to 14 cases in 2020 before dropping back down. Arson remains the least common with isolated incidents. For prospective investors and residents, these trends suggest variable property crime risks, which local law enforcement and crime prevention efforts could be addressing differently each year. Real estate agents and insurance companies might consider these statistics when advising clients on property and investment decisions.
Demographics
Allegany County, New York shows a relatively balanced adult population with approximately 18,961 males and 18,653 females. Educational attainment levels suggest that the majority of residents at least finished high school, but a notable portion pursued higher education, with over 3,800 holding a bachelor's degree and another 3,510 holding a graduate or professional degree. The age distribution leans towards an older demographic, with a significant number of residents aged 55 to 64. In terms of... Read more
Race Distribution in Allegany County, New York (2022)
Educational Attainment in Allegany County, New York (2022)
Age Distribution in Allegany County, New York
Citizen Population in Allegany County, New York (2022)
Political Trends & Data
Allegany County, New York, shows a strong Republican leaning in voting patterns, with nearly 68% support. Democrats capture around 29% of the vote, while minor parties barely register over 2%. This clear Republican dominance could significantly shape local policy and real estate trends, favoring conservative development approaches and potentially impacting property value... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Allegany County in New York shows a significant majority of votes leaning toward the Republican side, with support potentially reaching nearly 68%. Democratic support appears to hover around 29%, while Libertarian and Green parties together barely make up over 2%. Minor parties and other candidates seem to collectively account for a small fraction of the vote, suggesting a strong two-party preference with a clear Republican dominance in this county.
67.65% of voters voted for the Republican party in the 2020 Presidential Election
28.94% of voters voted for the Democrat party in the 2020 Presidential Election
1.62% of voters voted for the Livertarian party in the 2020 Presidential Election
0.42% of voters voted for the Green party in the 2020 Presidential Election
1.37% of voters voted for the Other party in the 2020 Presidential Election
School Data
Allegany County, New York, has seen its student-to-teacher ratio decrease from about 11 students per teacher in 2013 to just over 9 in 2023, which is below the U.S. national average of 14. This could appeal to investors, real estate agents, and families prioritizing education due to the potential for enhanced personalized attention and better educational outcomes. Additionally, for appraisers and insurance agents, this trend may suggest a strong community commitment to education, potentially... Read more
Student-to-teacher ratio in Allegany County, New York over the last 10 years
Allegany County, New York, has seen a decreasing trend in its student-to-teacher ratio over the last decade, dropping from approximately 11 students per teacher in 2013 to just over 9 students per teacher in 2023. This is notably below the current U.S. national average of 14 students per teacher. Investors, real estate agents, and those looking to move to the area might find this appealing, as smaller class sizes can indicate more personalized attention for students, potentially enhancing educational outcomes. For appraisers and insurance agents, lower student-to-teacher ratios might reflect a community's commitment to education, possibly influencing property values and insurance premiums. Families prioritizing education may find Allegany County particularly attractive due to its favorable student-to-teacher ratio.
