Suffolk County Real Estate and Livability Trends
Suffolk County, New York, has seen a notable rise in average taxable income per tax return, climbing from $79,150.07 in 2013 to $119,223.00 in 2021. This increase parallels a surge in median home values from $375,100 in 2015 to $490,800 in 2022. However, along with rising property values and incomes, average state and local income taxes per tax return have surged from $10,027.29 in 2012 to... Read more
Suffolk County Market Trends
Suffolk County, New York has experienced a striking rise in median home values, soaring from $375,100 in 2015 to $490,800 in 2022, surpassing both state and national averages. This surge implies a high demand for housing, possibly making the area attractive for investors but creating affordability challenges for buyers. Residential energy tax credits per tax return peaked at $4,450.93 in 2018,... Read more
Median Value of Occupied Housing Units in Suffolk County, New York Over the Last 8 Years
Suffolk County, New York has seen a steady and notable increase in median home values over the last eight years, climbing from $375,100 in 2015 to $490,800 in 2022. This surge outpaces both state and national trends, where New York as a whole saw values rise from $283,400 to $384,100, and the U.S. witnessed an increase from $125,500 to $179,400 in the same period. The accelerated growth in Suffolk County might signal a high demand for housing in the region, making it a potentially lucrative market for investors and developers while posing affordability challenges for prospective homebuyers.
Residential Energy Tax Credit Per Tax Return in Suffolk County, NY Over the Last 9 Years
Suffolk County, New York has seen a notable fluctuation in residential energy tax credits per tax return over the past nine years, with a peak of $4,450.93 in 2018. This volatility suggests varying investments in residential energy improvements, reflecting potentially increased awareness or incentives for eco-friendly upgrades. For those considering property investments or construction, these trends can indicate shifts in homeowner behavior and local policy impacts. This information is useful for appraisers, insurance agents, and real estate agents to understand the evolving landscape of residential energy efficiency efforts in Suffolk County.
Average Real Estate Taxes Per Tax Return in Suffolk County, NY Over the Last 10 Years
Over the past decade, average real estate taxes per tax return in Suffolk County, New York have shown a general trend of increase, starting from approximately $9,551.35 in 2012 and rising to about $12,442.69 by 2021. Key takeaways include a notable jump between 2016 and 2017, where taxes surged by nearly $1,000, and another significant increase in 2019 and 2020. This consistent upward trend could be especially relevant for investors, homebuyers, and real estate professionals considering the potential impact on long-term property costs and overall affordability in the region.
Percentage of Farm Returns in Suffolk County, NY Over the Last 10 Years
The percentage of farm tax returns in Suffolk County, New York has remained relatively stable over the last decade, fluctuating around 0.04%. While it dipped slightly in 2014 and 2020, the percentage has generally hovered close to this mark. Farm tax returns can offer insights into the agricultural activity and economic contribution of farms in the county. For potential investors, residents, and builders, understanding these trends could be crucial as they indicate the consistency and potentially upcoming changes in the local agribusiness landscape.
Number of Mortgages by Occupancy Type in Suffolk County, NY Over the Last 5 Years in Suffolk County
Suffolk County, New York has seen significant fluctuations in mortgage counts across principal residences, investment properties, and second residences over the past five years. Principal residences have consistently held the highest mortgage counts, peaking in 2021, while investment properties and second residences have remained much lower and relatively stable. These shifts in mortgage activity reflect broader housing market trends and economic conditions, which could be pivotal for investors strategizing their next move or appraisers evaluating changing property values. For insurance agents, understanding these dynamics aids in assessing risk, and for real estate professionals, knowing the occupancy type trends can shape marketing and sales tactics.
Economic Outlook
Suffolk County, New York, has seen a robust upward trend in average taxable income per tax return, rising from around $79,150.07 in 2013 to about $119,223.00 in 2021. Concurrently, average state and local income taxes per tax return surged, moving from $10,027.29 in 2012 to $26,718.51 in 2021. The total tax liability also saw an increase, jumping from $15,093.50 to $24,997.95 over the same period. These trends may point to rising incomes and property values, making Suffolk County appealing to... Read more
Average Taxable Income per Tax Return in Suffolk County, NY over the last 9 years
Over the past nine years, average taxable income per tax return in Suffolk County, New York, has seen a steady upward trend, jumping from approximately $79,150.07 in 2013 to about $119,223.00 in 2021. This consistent rise, especially the notable leap between 2020 and 2021, suggests growing economic strength and potentially increasing property values. Such trends may appeal to investors and real estate agents eyeing opportunities, while appraisers and insurance agents could see this data as indicative of shifting local market conditions.
Average State and Local Income Taxes Per Tax Return in Suffolk County, NY Over the Last 10 Years
Over the past decade, Suffolk County, New York has seen a significant increase in average state and local income taxes per tax return, jumping from $10,027.29 in 2012 to $26,718.51 in 2021. This rising trend could impact various stakeholders; potential homeowners might need to budget for higher tax liabilities, and real estate agents should be prepared to discuss tax impacts when selling properties. Investors and appraisers might consider the growing taxes when evaluating property values, while insurance agents may need to factor in these costs when advising clients. Those with an interest in the area should keep this upward trend in mind as it might affect overall living expenses.
Average Total Tax Liability Per Tax Return in Suffolk County, NY Over the Last 10 Years
Over the past 10 years, Suffolk County, New York has seen a steady increase in average total tax liability per tax return, climbing from $15,093.50 in 2012 to $24,997.95 in 2021. This growth may suggest rising incomes or increasing property values in the area, which could be key indicators for potential investors and property developers. For insurance agents and appraisers, the upward trend implies a need to reassess coverage and valuation policies to stay aligned with the evolving financial landscape. Real estate agents and those considering moving to Suffolk County might also want to note these tax implications as part of their planning and advisory services.
Cost of Living in Suffolk County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $2,918 | $1,697 | $1,749 | $3,600 | $3,303 |
| 2 adults 3 children | $2,918 | $1,386 | $1,712 | $3,600 | $3,092 |
| 1 adult 4 children | $2,918 | $1,386 | $1,088 | $3,600 | $3,259 |
| 1 adult 3 children | $2,918 | $1,132 | $1,051 | $3,600 | $3,048 |
| 2 adults 2 children | $2,271 | $1,135 | $1,675 | $3,115 | $2,528 |
| 1 adult 2 children | $2,271 | $848 | $1,015 | $3,115 | $2,564 |
| 2 adults 1 child | $2,271 | $897 | $1,639 | $1,540 | $1,961 |
| 1 adult 1 child | $2,271 | $579 | $978 | $1,540 | $1,912 |
| 2 adults | $1,892 | $721 | $1,169 | $0 | $1,217 |
| 1 adult | $1,518 | $393 | $585 | $0 | $1,017 |
Safety trends & Data
Over the last five years in Suffolk County, New York, property crime trends have consistently declined, peaking in 2018 and substantially decreasing by 2021, though they saw a slight uptick in 2022. Larceny-theft dropped from 4,401.00 in 2018 to 2,402.00 in 2022. Instances of vandalism, burglary, and motor vehicle theft also showed significant reduction, indicating possible improvements in community safety measures or law enforcement efficiency. This general downward trend in property crimes... Read more
Property Crime Trends in Suffolk County, NY Over the Last 5 Years
Over the last five years in Suffolk County, New York, property crime trends show a consistent decline, peaking in 2018 and substantially decreasing by 2021, though seeing a slight uptick in 2022. Larceny-theft has remained the most common offense, with noticeable drops from 4,401.00 in 2018 to 2,402.00 in 2022. Interestingly, instances of vandalism, burglary, and motor vehicle theft also reflect significant reduction, indicating possible improvements in community safety measures or law enforcement efficiency. For investors, realtors, and residents, this general downward trend in property crimes could suggest an increasingly secure environment for both living and conducting business.
Demographics
Suffolk County, New York, showcases a fairly balanced gender distribution among adults, with slightly more females than males. The educational attainment data reveals that a substantial number of residents have pursued higher education, with notable proportions holding bachelor's and graduate degrees. The age distribution suggests a diverse age range, with significant populations in the 45-64 year category, which might indicate a mature workforce. From a racial perspective, the county is... Read more
Race Distribution in Suffolk County, New York (2022)
Educational Attainment in Suffolk County, New York (2022)
Age Distribution in Suffolk County, New York
Citizen Population in Suffolk County, New York (2022)
Political Trends & Data
Suffolk County, New York experienced an almost even split between Republican and Democratic votes in the 2020 U.S. Presidential Election, reflecting a politically diverse environment. Minor parties, including the Libertarians and Greens, had minimal impact, and the 'Other' category further indicated a variety of leanings without significantly shifting the main voting trends. This spread of political views suggests an electorate that may be open to varied policy proposals and potentially... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Suffolk County, New York, saw a nuanced political landscape during the 2020 U.S. Presidential Election. While the Republican and Democrat votes were nearly evenly split, with Republicans slightly ahead, minor parties like the Libertarians and Greens made marginal impacts. The 'Other' category also played a small role, highlighting the presence of diverse political views, though they did not significantly alter the primary race dynamics.
49.59% of voters voted for the Republican party in the 2020 Presidential Election
48.56% of voters voted for the Democrat party in the 2020 Presidential Election
0.59% of voters voted for the Livertarian party in the 2020 Presidential Election
0.27% of voters voted for the Green party in the 2020 Presidential Election
0.99% of voters voted for the Other party in the 2020 Presidential Election
School Data
Suffolk County, New York, has seen its student-to-teacher ratio drop from around 14 students per teacher in 2014 to approximately 11 in 2023, below the current national average. This trend could suggest more individualized attention in classrooms, appealing to families prioritizing education quality and educators seeking less crowded environments. For investors and real estate agents, a strengthening education system might indicate increasing demand for housing in the area. Appraisers and... Read more
Student-to-teacher ratio in Suffolk County, New York over the last 10 years
Over the last decade in Suffolk County, New York, the student-to-teacher ratio has shown a noticeable decline, dropping from around 14 students per teacher in 2014 to approximately 11 in 2023. This decrease brings Suffolk County below the current national average of 14 students per teacher, suggesting that there could be more individualized attention for students. A lower ratio might seem appealing for families prioritizing education quality, as well as for educators looking for less crowded classrooms. For potential investors or real estate agents, this trend might infer a strengthening education system, potentially driving demand for housing in the area. Similarly, appraisers and insurance agents might find this data useful when considering property valuations and premiums, respectively.
