McCormick County Real Estate and Livability Trends
McCormick County, South Carolina's real estate market features stable median home values around $119,500 in 2022, offering potentially reliable long-term returns. The increased average taxable income and rising state and local taxes might indicate economic improvements, attracting more investors. Trends in energy tax credits reveal significant homeowner interest in sustainable upgrades, appealing... Read more
McCormick County Market Trends
McCormick County, South Carolina's real estate market offers intriguing investment opportunities due to its unique trends. Despite fluctuating median home values, stabilizing around $119,500 in 2022, the market provides potentially more stable, long-term returns compared to the sharp rises seen state and nationwide. Residential energy tax credits have peaked significantly, revealing a keen... Read more
Median Value of Occupied Housing Units in McCormick County, South Carolina Over the Last 8 Years
McCormick County, South Carolina's median home values have shown moderate fluctuations over the past eight years, peaking at $120,800 in 2016 before stabilizing around $119,500 in 2022. When compared to South Carolina's steady growth from $139,900 in 2015 to $216,200 in 2022, McCormick’s market appears more volatile and trails behind the state's rising trend. Nationally, the median value has risen significantly from $125,500 in 2015 to $179,400 in 2022. For those eyeing investments in McCormick County, the region could present more stable long-term opportunities, especially as its housing market doesn't echo the sharp increases seen at the state and national levels.
Residential Energy Tax Credit Per Tax Return in McCormick County, SC Over the Last 9 Years
Over the last nine years, McCormick County, South Carolina, has seen a notable increase in the average residential energy tax credit per tax return. Beginning at around $330.00 in 2013, the credit has experienced significant peaks and fluctuations, reaching a high of $1,650.00 in 2018. This trend suggests growing investment and interest in energy-efficient improvements among homeowners. For real estate agents and investors, the rising tax credits may indicate a robust market for energy-efficient homes. For insurance agents and appraisers, understanding these investments can be critical when assessing property values and coverage needs. Those eyeing property development in the area might see this as a favorable condition for promoting energy-efficient options.
Average Real Estate Taxes Per Tax Return in McCormick County, SC Over the Last 10 Years
Over the past decade, McCormick County, South Carolina has seen a noticeable increase in average real estate taxes per tax return, rising from approximately $2,335.48 in 2012 to about $3,965.22 by 2021. This upward trend may suggest a growing investment in local infrastructure or rising property values. For potential investors, property developers, and real estate agents, this could indicate a strengthening local economy. Meanwhile, appraisers and insurance agents may need to consider these shifts when evaluating property-related risks and costs.
Percentage of Farm Returns in McCormick County, SC Over the Last 10 Years
McCormick County, South Carolina has seen farm tax returns fluctuate between 1.58% and 2.08% over the last decade. Despite a peak in 2015 at 2.08%, the percentage dipped to its lowest in 2020 at 1.59%, followed by a modest recovery to around 1.83% in 2021. Farm tax returns are tied to the profitability and activity of agricultural businesses in the area, indicating sporadic but relatively stable involvement in farming. Investors or potential residents might find the modest yet steady agricultural engagement indicative of a community with a balanced mix of rural character and growth potential.
Number of Mortgages by Occupancy Type in McCormick County, SC Over the Last 5 Years in McCormick County
Purchasing trends in McCormick County, South Carolina indicate fluctuating interest in different types of properties over the past five years. Mortgage counts for principal residences saw significant variation, peaking in 2021 at 697 but dipping to 443 in 2022. Investment property purchases have generally been lower, with occasional increases, such as from 7 in 2020 to 26 in 2022. Second residences also experienced ups and downs, with a notable decrease from 53 in 2021 to 40 in 2022. These shifts in occupancy types suggest varying market demands and economic conditions, impacting decisions for investors, builders, and those considering moving into the area. For appraisers and insurance agents, changes in property types can affect property valuations and risk assessments, highlighting the importance of keeping informed on these trends.
Economic Outlook
McCormick County, South Carolina, has seen the average taxable income per tax return grow significantly from $45,736.95 in 2013 to $77,245.73 in 2021. This trend hints at a healthier economy likely making the area more attractive to investors and property developers. The consistent rise in state and local income taxes, increasing from $4,540.28 in 2012 to $10,182.61 by 2021, indicates evolving economic conditions and possibly new fiscal policies. Real estate professionals and investors might... Read more
Average Taxable Income per Tax Return in McCormick County, SC over the last 9 years
Over the past nine years, McCormick County, South Carolina has experienced a steady increase in average taxable income per tax return, with notable growth from $45,736.95 in 2013 to $77,245.73 in 2021. This upward trend could indicate a healthier economy and rising incomes, which might attract investors and property developers looking for growing markets. For real estate agents, appraisers, and insurance agents, the increasing income levels might suggest opportunities for higher-value transactions and premium policies. As these incomes rise, the county becomes more appealing for both new residents and businesses considering relocation to capitalize on the economic growth.
Average State and Local Income Taxes Per Tax Return in McCormick County, SC Over the Last 10 Years
Over the past decade, McCormick County, South Carolina, has seen a noteworthy increase in average state and local income taxes per tax return. Starting at $4,540.28 in 2012 and consistently climbing to $10,182.61 by 2021, the upward trend reflects various economic changes and possibly shifts in local fiscal policies. This marked rise might interest potential investors and those considering relocating, as it suggests evolving economic conditions. Real estate agents, insurance agents, and appraisers could find this trend useful for future predictions and evaluations in the area.
Average Total Tax Liability Per Tax Return in McCormick County, SC Over the Last 10 Years
The average total tax liability per tax return in McCormick County, South Carolina, has shown a general upward trend over the past decade, with notable increases in recent years. In 2012, the figure stood at approximately $5,850.37, but by 2021, it had surged to around $12,269.35. Such a steep rise potentially indicates a growing taxable income base and possibly changes in tax policies or economic conditions. For investors, real estate agents, and other stakeholders, this trend may suggest an increasing economic prosperity or shifting demographics within McCormick County that could influence property values and investment opportunities.
Cost of Living in McCormick County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,131 | $1,339 | $1,589 | $981 | $854 |
| 1 adult 4 children | $1,131 | $1,094 | $1,214 | $981 | $930 |
| 2 adults 3 children | $1,131 | $1,094 | $1,380 | $981 | $669 |
| 1 adult 3 children | $1,131 | $893 | $1,004 | $981 | $710 |
| 2 adults 2 children | $796 | $896 | $1,170 | $858 | $545 |
| 1 adult 2 children | $796 | $669 | $795 | $858 | $484 |
| 2 adults 1 child | $796 | $708 | $961 | $461 | $548 |
| 1 adult 1 child | $796 | $457 | $585 | $461 | $459 |
| 2 adults | $605 | $569 | $751 | $0 | $495 |
| 1 adult | $601 | $310 | $376 | $0 | $475 |
Safety trends & Data
McCormick County, South Carolina has experienced varied property crime rates over the last five years. Burglary incidents hit a high in 2019 and 2020 with four occurrences each year before a sharp decline. Larceny-theft had its peak in 2020, reaching 10 cases—the highest for the timeframe. Motor vehicle theft, fraud, and vandalism showed inconsistent patterns, while arson was an isolated incident in 2021. These trends could be insightful for investors, developers, and real estate agents in... Read more
Property Crime Trends in McCormick County, SC Over the Last 5 Years
McCormick County, South Carolina has seen fluctuations in property crime over the past five years. Burglary incidents peaked in 2019 and 2020 at 4 occurrences each year before dropping significantly. Larceny-theft incidents spiked in 2020 with 10 reported cases, the highest in the period. Incidents of motor vehicle theft, fraud, and vandalism show a less consistent pattern, while arson was reported only once in 2021. Potential investors, property developers, and real estate agents might find these trends useful for risk assessment and decision-making regarding property values and insurance premiums.
Demographics
McCormick County, South Carolina displays a moderately higher population of males in the adult demographic compared to females. The educational attainment is diverse, with a significant portion of the community having at least a high school diploma, while a smaller percentage holds graduate or professional degrees. Observations about age distribution reveal a prominent elderly population, particularly those aged 65 and over, which seems to outnumber younger age groups. The racial makeup is... Read more
Race Distribution in McCormick County, South Carolina (2022)
Educational Attainment in McCormick County, South Carolina (2022)
Age Distribution in McCormick County, South Carolina
Citizen Population in McCormick County, South Carolina (2022)
Political Trends & Data
In McCormick County, South Carolina, the 2020 U.S. Presidential Election showed a close contest with Republicans capturing around 52% of the vote, slightly edging out Democrats who garnered nearly 47%. The minimal support for smaller parties like the Libertarians and Greens suggests a strong preference for the two main parties. This political landscape may have implications for future campaigns and policy decisions in the... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In McCormick County, South Carolina, the 2020 U.S. Presidential Election results showed a slight lead for the Republican party with approximately 52% of the votes, while Democrats trailed closely with nearly 47%. Smaller parties like the Libertarians and Greens captured minimal support, perhaps reflecting the county's preference for the two major parties. These figures could indicate underlying political leanings and could potentially influence future campaigns and policy-making decisions within the county.
51.92% of voters voted for the Republican party in the 2020 Presidential Election
47.17% of voters voted for the Democrat party in the 2020 Presidential Election
0.49% of voters voted for the Livertarian party in the 2020 Presidential Election
0.35% of voters voted for the Green party in the 2020 Presidential Election
0.07% of voters voted for the Other party in the 2020 Presidential Election
School Data
Over the past decade, McCormick County, South Carolina has seen fluctuations in student-to-teacher ratios, swinging from a low of 10 in 2022 to almost 15 in 2014 and 2021. These changes could influence educational quality and classroom dynamics, with occasional dips below the national average of 14 students per teacher possibly indicating more personalized attention. For investors and potential relocators, these trends might hint at evolving educational environments that could impact property... Read more
Student-to-teacher ratio in Mccormick County, South Carolina over the last 10 years
Over the past decade, McCormick County, South Carolina has experienced fluctuations in its student-to-teacher ratio, ranging from a low of 10 in 2022 to a high of nearly 15 in 2014 and 2021. This variation suggests shifts in classroom dynamics that could impact educational quality. Interestingly, the recent years indicate ratios generally aligning with the national average of 14 students per teacher, though occasional dips below this benchmark might signal periods of more personalized attention for students. For investors, real estate agents, and those considering relocating, these changes could hint at evolving educational environments that potentially affect property values and community appeal.
