Wyoming County Real Estate and Livability Trends
Wyoming County, New York, has shown an interesting property market dynamic. The average taxable income per tax return increased from $47,974.70 in 2013 to $62,034.77 in 2021, which implies economic growth and possibly rising property values. Coupled with a significant rise in real estate taxes from $4,219.60 in 2012 to $6,517.31 in 2021, this could both entice investors and concern potential... Read more
Wyoming County Market Trends
Wyoming County, New York's real estate market has seen median home values rise from $102,000 in 2015 to $143,000 in 2022, offering a more affordable entry point compared to larger jumps in New York State and the national median. Notably, residential energy tax credits spiked at $4,575.00 in 2018, perhaps reflecting heightened investments in energy efficiency. Real estate taxes have climbed from... Read more
Median Value of Occupied Housing Units in Wyoming County, New York Over the Last 8 Years
Over the past eight years, median home values in Wyoming County, New York have seen a consistent upward trend. The shift from $102,000 in 2015 to $143,000 in 2022, although relatively modest compared to New York State's leap from $283,400 to $384,100 in the same period, suggests a more accessible entry point for potential homebuyers. This value still undercuts the national median, which reached $179,400 by 2022, potentially signaling attractive investment opportunities within Wyoming County for those looking to enter the real estate market without the heftier price tag seen nationally and across New York State.
Residential Energy Tax Credit Per Tax Return in Wyoming County, NY Over the Last 9 Years
Wyoming County, New York has seen fluctuating residential energy tax credits over the past nine years, with a significant spike in 2018 at $4575.00 per tax return. The average remained fairly stable until 2015, when it began increasing, peaking dramatically in 2017 and 2018 before normalizing somewhat. This variability in tax credits may indicate periods of increased residential energy investments or changes in tax policies, offering potential clues for those looking to invest in energy-efficient properties or considering the financial benefits associated with such investments.
Average Real Estate Taxes Per Tax Return in Wyoming County, NY Over the Last 10 Years
In Wyoming County, New York, average real estate taxes per tax return have shown a noticeable upward trend over the past decade. Starting at approximately $4,219.60 in 2012, the average has steadily increased, peaking at around $6,517.31 in 2021. This progressive climb in real estate taxes suggests a rising valuation of properties, which could be attractive for potential investors looking for appreciation potential. However, for current homeowners or those considering moving to the area, the increasing tax burden might be a factor to contemplate. Real estate agents and appraisers might use this data to evaluate market conditions and forecast future trends for potential buyers and sellers. Real estate developers and those in the construction industry should consider these tax implications when planning new projects or developments.
Percentage of Farm Returns in Wyoming County, NY Over the Last 10 Years
Wyoming County, New York has seen a gradual decline in the percentage of farm tax returns over the past decade, averaging around 3.0%. Farm tax returns typically represent the financial activities of agricultural producers and can be a useful indicator of the health and vitality of the local farming sector. For those considering investing in property, moving to, or engaging with the community, understanding the trend in farm returns can offer insights into the stability and growth potential of the agricultural industry in the region. Notably, there has been a slight uptick from 2020 to 2021, which might suggest a modest recovery or adaptation in response to recent challenges. Farm tax returns are filed by farming businesses or individuals to report the income earned from agriculture-related activities, expenses, and other financial data required by tax authorities. These indicators can influence decisions related to agricultural investments and the overall economic landscape of the area.
Number of Mortgages by Occupancy Type in Wyoming County, NY Over the Last 5 Years in Wyoming County
Wyoming County, New York, has shown a notable dominance of principal residence mortgages over the last five years, dwarfing the numbers for both investment properties and second residences. The ratio suggests a market more favorable to owner-occupied homes, which could impact property values and neighborhood stability. Investors might find limited opportunities compared to other demographics, while real estate agents and appraisers might need to adjust their strategies to focus on primary homebuyers. Insurance agents could see varying risk profiles, with fewer policies potentially linked to investment properties. Understanding these dynamics can benefit anyone looking to invest, move, or build in this locale.
Economic Outlook
Wyoming County, New York has witnessed a steady rise in average taxable income per tax return, jumping from $47,974.70 in 2013 to $62,034.77 in 2021, hinting at a potentially thriving economy and rising property values. Coupled with this, state and local income taxes have nearly doubled, which might affect real estate affordability and investment desirability. Average total tax liability also increased significantly over the decade, pointing to economic shifts that could influence valuation... Read more
Average Taxable Income per Tax Return in Wyoming County, NY over the last 9 years
Wyoming County, New York has been experiencing a steady increase in average taxable income per tax return over the past nine years, with values rising from $47,974.70 in 2013 to $62,034.77 in 2021. This trend might suggest a strengthening local economy and potentially increasing property values, making the area possibly appealing for investors and new residents. Notably, the consistent growth in taxable income could also indicate a more prosperous community, which could translate to greater stability and desirability for insurers and appraisers evaluating property investments.
Average State and Local Income Taxes Per Tax Return in Wyoming County, NY Over the Last 10 Years
For Wyoming County, New York, understanding the trends in state and local income taxes over the past decade reveals significant implications. Average taxes per return have experienced a substantial uptick from $5,092.59 in 2012 to $10,888.64 in 2021. This sharp increase, especially marked after 2017, could impact real estate affordability, investment attractiveness, and the cost of living considerations for residents and prospective investors. This trend warrants attention from real estate agents, appraisers, and insurance agents who might need to adjust their valuation assumptions and risk assessments.
Average Total Tax Liability Per Tax Return in Wyoming County, NY Over the Last 10 Years
Over the past decade, Wyoming County, New York has seen a notable climb in average total tax liability per tax return, rising from $5,810.32 in 2012 to $7,653.54 in 2021. This upward trajectory, especially the spike in recent years, indicates an economic shift that might interest potential investors, property builders, and insurance agents. It's worth noting the slight dip in 2018 and 2019 before the substantial increase. Such data can be pivotal for real estate stakeholders and appraisers in assessing the economic climate and planning future investments within the county.
Cost of Living in Wyoming County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,096 | $1,520 | $1,287 | $1,610 | $1,162 |
| 2 adults 3 children | $1,096 | $1,242 | $1,254 | $1,610 | $971 |
| 1 adult 4 children | $1,096 | $1,241 | $805 | $1,610 | $1,252 |
| 1 adult 3 children | $1,096 | $1,014 | $771 | $1,610 | $1,053 |
| 2 adults 2 children | $826 | $1,017 | $1,221 | $1,396 | $883 |
| 1 adult 2 children | $826 | $759 | $738 | $1,396 | $833 |
| 2 adults 1 child | $826 | $803 | $1,188 | $698 | $839 |
| 1 adult 1 child | $826 | $519 | $705 | $698 | $666 |
| 2 adults | $628 | $645 | $862 | $0 | $639 |
| 1 adult | $623 | $352 | $431 | $0 | $571 |
Safety trends & Data
Wyoming County, New York has experienced fluctuating property crime trends over the past five years that may signal community safety concerns. Notably, burglary incidents spiked to 21 cases in 2022, while larceny-theft hit a peak of 80 cases in 2020 before dropping sharply. Vandalism has persistently remained high, and motor vehicle theft has shown occasional increases. These trends could impact property values, insurance premiums, and investment decisions, making it crucial for real estate... Read more
Property Crime Trends in Wyoming County, NY Over the Last 5 Years
Over the past five years, Wyoming County in New York has seen a fluctuating but overall concerning trend in property crimes. Burglary incidents spiked in 2022, reaching 21 cases, while larceny-theft has varied significantly, peaking at 80 cases in 2020 before dropping sharply. Vandalism has remained persistently high, and motor vehicle theft has shown slight inconsistency with occasional increases. Such data could suggest potential vulnerabilities in community safety, making it crucial for potential investors and residents to consider these trends. It's essential for real estate agents, appraisers, and insurance providers to stay informed about these dynamics as they can affect property values, insurance premiums, and client advisories in the region.
Demographics
Wyoming County, New York, shows a higher number of males compared to females within its adult population. Education levels vary, with a substantial portion holding high school diplomas, but noticeably fewer attaining graduate or professional degrees. Age distribution points towards a balanced demographic, although there's a slight uptick in the 55-64 age bracket. The population is overwhelmingly White, with minimal representation from other racial groups. These trends potentially impact local... Read more
Race Distribution in Wyoming County, New York (2022)
Educational Attainment in Wyoming County, New York (2022)
Age Distribution in Wyoming County, New York
Citizen Population in Wyoming County, New York (2022)
Political Trends & Data
Wyoming County, New York, leaned heavily Republican in the 2020 U.S. Presidential Election, with around 71% of the votes favoring the GOP. This conservative tilt suggests a strong GOP base that could shape local policies and political engagement. Third-party candidates had minimal impact, reinforcing a predominantly two-party environment. Understanding this political landscape could be crucial for those looking to invest or settle here, as it may influence community values and local... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Wyoming County, New York, appears to have leaned heavily towards the Republican party in the 2020 U.S. Presidential Election, with around 71% of the votes, compared to roughly 26% for the Democrats. The third-party candidates, including Libertarian and Green parties, seemed to garner minimal support, implying a predominantly two-party dynamic in this region. This trend might suggest a strong conservative base, which could influence local policy and political engagement.
71.33% of voters voted for the Republican party in the 2020 Presidential Election
26.04% of voters voted for the Democrat party in the 2020 Presidential Election
1.37% of voters voted for the Livertarian party in the 2020 Presidential Election
0.32% of voters voted for the Green party in the 2020 Presidential Election
0.93% of voters voted for the Other party in the 2020 Presidential Election
School Data
Wyoming County, New York has seen a notable decline in student-to-teacher ratios over the last decade, dropping from around 11 students per teacher in 2014 to just over 9 in 2023. This trend is compelling when compared to the national average of 14 students per teacher, indicating a potential for more personalized educational attention in the county. Such factors could attract families considering relocation and enhance the appeal for real estate investments, thereby possibly impacting property... Read more
Student-to-teacher ratio in Wyoming County, New York over the last 10 years
Wyoming County, New York has seen a consistent decline in the student-to-teacher ratio over the last decade, with the numbers falling from around 11 students per teacher in 2014 to just over 9 in 2023. This trend stands out particularly when compared to the national average of 14 students per teacher, suggesting that Wyoming County may offer more individualized educational attention. This could be an attractive factor for families considering relocation to the area, enhance the appeal for real estate investment, and potentially impact property values positively. Lower student-to-teacher ratios might also interest local appraisers and insurance agents as a sign of a community investing in quality education, which can correlate with higher neighborhood desirability and lower risk profiles.
