Richland County Real Estate and Livability Trends
Richland County, South Carolina, has experienced significant economic and housing market shifts. Average taxable income per tax return jumped from $53,059.13 in 2013 to $70,830.59 in 2021, indicating potential economic growth and increased earning capacity. This affluence has likely contributed to rising median home values, which hit $201,200 in 2022. Higher property taxes, up from $2,218.48 in... Read more
Richland County Market Trends
Richland County, South Carolina, has seen its median home values rise sharply to $201,200 in 2022, outpacing both South Carolina and national trends. Residential energy tax credits also surged, peaking at $2,616.77 in 2018, potentially signaling a community push for energy-efficient homes. Real estate taxes in the county have escalated from $2,218.48 in 2012 to $3,759.02 in 2021, hinting at... Read more
Median Value of Occupied Housing Units in Richland County, South Carolina Over the Last 8 Years
Richland County, South Carolina has seen a steady rise in median home values over the past eight years, reaching $201,200 in 2022. This compares to a slower but also increasing trend in both South Carolina and the United States, where median values hit $216,200 and $179,400 respectively in the latest year. This suggests Richland County might have local factors driving up property values more sharply, possibly presenting a compelling opportunity for investors or homebuyers looking for areas with strong growth potential.
Residential Energy Tax Credit Per Tax Return in Richland County, SC Over the Last 9 Years
Richland County, South Carolina has seen a notable upward trend in residential energy tax credits per tax return over the last nine years, peaking significantly in 2018 at $2,616.77. This sharp increase might suggest heightened investment in energy-efficient home improvements or solar installations during that period. Such deductions can be attractive for prospective homebuyers and investors, indicating a community interest in sustainable living. For real estate agents and property developers, this growth could point to a market where energy-efficient properties may command a premium. Additionally, appraisers and insurance agents might view these trends as an indicator of future market shifts or valuation considerations.
Average Real Estate Taxes Per Tax Return in Richland County, SC Over the Last 10 Years
Richland County, South Carolina has seen a notable increase in average real estate taxes per tax return over the past decade, rising from approximately $2,218.48 in 2012 to around $3,759.02 in 2021. This upward trend suggests growing property values and possibly enhanced local services influencing tax rates. For potential investors, homeowners, and real estate professionals, this trajectory indicates a vibrant and possibly appreciating market, which could affect future property values and associated costs.
Percentage of Farm Returns in Richland County, SC Over the Last 10 Years
Richland County, South Carolina, has seen minimal fluctuations in farm tax returns over the past decade, with percentages hovering around 0.36% to 0.40%. Despite slight rises and dips, there doesn't appear to be a significant upward or downward trend. For those looking to invest or build property in the area, this stability in farm tax returns might suggest a relatively consistent agricultural sector. Farm tax returns are filings by farm owners to report income, expenses, and calculate tax obligations, reflecting the economic activity within the local farming industry.
Number of Mortgages by Occupancy Type in Richland County, SC Over the Last 5 Years in Richland County
Richland County, South Carolina has shown varying trends in mortgage counts for different occupancy types over the past five years. Notably, the volume of mortgages for principal residences spiked in 2021, tapering off significantly in 2022. Investment properties saw a similar peak in 2021 but also decreased by the following year. For second residences, the fluctuations were relatively minor, with a slight decline overall. These trends might be crucial for investors and insurers assessing market stability and risk, as shifts in primary residence financing could signal economic health and population growth patterns. Real estate agents and property developers might also find this data insightful, as the demand for different property types can guide their strategic decisions.
Economic Outlook
Richland County, South Carolina, has seen a significant rise in average taxable income per tax return, climbing from around $53,059.13 in 2013 to approximately $70,830.59 in 2021. This trend suggests potential economic growth and an increasing earning capacity for residents, potentially bolstering the housing market. Coupled with a more than doubling in average state and local income taxes per tax return over the past decade—from $6,069.40 in 2012 to $11,092.14 in 2021—this hints at... Read more
Average Taxable Income per Tax Return in Richland County, SC over the last 9 years
Richland County, South Carolina, has seen a notable increase in average taxable income per tax return over the last nine years, jumping from approximately $53,059.13 in 2013 to around $70,830.59 in 2021. This upward trend, especially the significant rise between 2020 and 2021, suggests potential economic growth and an increasing earning capacity for residents. For investors, real estate agents, and those considering moving to the area, this may hint at expanding economic opportunities and a potentially stronger housing market. Insurance agents and appraisers might see this as a sign of increasing property values, influencing premiums and appraisal estimates accordingly.
Average State and Local Income Taxes Per Tax Return in Richland County, SC Over the Last 10 Years
Richland County, South Carolina, has seen a notable increase in average state and local income taxes per tax return over the past decade, more than doubling from $6,069.40 in 2012 to $11,092.14 in 2021. This upward trend indicates a rising tax burden, likely driven by economic growth and higher incomes. Property investors and real estate agents might find this trend significant, as higher local taxes can impact overall housing affordability and attractiveness. Similarly, appraisers and insurance agents could find this data useful for evaluating risks and fiscal obligations when dealing with property in the area.
Average Total Tax Liability Per Tax Return in Richland County, SC Over the Last 10 Years
Richland County, South Carolina has seen a general upward trend in the average total tax liability per tax return over the last ten years. Starting at $9,015.56 in 2012, it reached $12,103.17 by 2021, suggesting a 34% increase. Notable spikes occurred between 2015 and 2016, as well as a significant jump from 2020 to 2021. This information could suggest rising incomes and potentially an expanding economy, making it relevant for potential investors, real estate agents, and those looking to relocate. It's also worth considering for appraisers and insurance agents as it may influence property values and insurance premiums.
Cost of Living in Richland County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,498 | $1,520 | $1,976 | $1,250 | $1,319 |
| 1 adult 4 children | $1,498 | $1,241 | $1,511 | $1,250 | $1,452 |
| 2 adults 3 children | $1,498 | $1,242 | $1,714 | $1,250 | $1,082 |
| 1 adult 3 children | $1,498 | $1,014 | $1,249 | $1,250 | $1,194 |
| 2 adults 2 children | $1,168 | $1,017 | $1,452 | $1,127 | $883 |
| 1 adult 2 children | $1,168 | $759 | $988 | $1,127 | $871 |
| 2 adults 1 child | $1,168 | $803 | $1,191 | $730 | $860 |
| 1 adult 1 child | $1,168 | $519 | $726 | $730 | $725 |
| 2 adults | $1,034 | $645 | $929 | $0 | $712 |
| 1 adult | $980 | $352 | $465 | $0 | $644 |
Safety trends & Data
Richland County, South Carolina, is showing some interesting trends in property crime that might influence real estate decisions. Larceny-theft cases have dropped dramatically from 1,698 in 2018 to 542 in 2022, which could signal better security or changes in reporting. However, vandalism has remained steady with 207 cases in 2022, suggesting ongoing issues with property damage. Motor vehicle thefts have fluctuated, settling around 54 cases in 2022, but this still raises some concerns for... Read more
Property Crime Trends in Richland County, SC Over the Last 5 Years
Richland County, South Carolina, has seen nuanced shifts in property crimes over the last five years. Larceny-theft, which peaked at 1,698 cases in 2018, has seen a significant drop to 542 cases by 2022, suggesting a potential improvement in security or reporting mechanisms. Conversely, vandalism cases have remained relatively stable, with 207 cases reported in 2022, highlighting ongoing concerns for property damage. Real estate investors and insurance agents might find the rising trends in motor vehicle thefts, starting at 107 cases in 2018 and fluctuating around 54 cases in 2022, worth noting for premium calculations and risk assessments. The general decline in embezzlement and forgery cases could also reflect more stringent financial oversight or proactive fraud prevention efforts in the area.
Demographics
In Richland County, South Carolina, the adult population shows a slight female majority. Educational attainment is fairly balanced, with a notable number holding bachelor's or graduate degrees, potentially reflecting the local emphasis on higher education. Age distribution indicates a youthful skew, with a significant number of residents between 25 and 34 years. Racial diversity is prominent, with a plurality identifying as Black or African American, highlighting the county's rich multicultural... Read more
Race Distribution in Richland County, South Carolina (2022)
Educational Attainment in Richland County, South Carolina (2022)
Age Distribution in Richland County, South Carolina
Citizen Population in Richland County, South Carolina (2022)
Political Trends & Data
Richland County, South Carolina, showed a significant lean towards the Democratic Party in the 2020 U.S. Presidential Election, with about 68% of the votes. The Republican Party trailed significantly at around 30%, and minor parties such as the Libertarians and Greens barely registered, capturing just over 1% combined. This trend could hint at the county's urban characteristics and demographic profile, which might be shaping the political... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Richland County, South Carolina, appeared to lean heavily toward the Democratic Party in the 2020 U.S. Presidential Election, with approximately 68% of the votes. The Republican Party garnered around 30%, which is notably lower compared to its Democratic counterpart. Other parties like the Libertarians and Greens barely made a dent, capturing just over 1% combined. This voting pattern might suggest a stronger urban influence, possibly reflecting Richland County's demographic and cultural tendencies.
30.09% of voters voted for the Republican party in the 2020 Presidential Election
68.40% of voters voted for the Democrat party in the 2020 Presidential Election
1.05% of voters voted for the Livertarian party in the 2020 Presidential Election
0.38% of voters voted for the Green party in the 2020 Presidential Election
0.09% of voters voted for the Other party in the 2020 Presidential Election
School Data
Richland County, South Carolina's student-to-teacher ratio has improved from around 15 students per teacher in 2014 to just under 13 by 2023, which is below the national average of 14 since 2020. This trend suggests a commitment to enhancing educational quality, making the area potentially more attractive for families. For investors and real estate agents, these educational improvements could positively impact property values, while appraisers and insurance agents might find this data relevant... Read more
Student-to-teacher ratio in Richland County, South Carolina over the last 10 years
Richland County, South Carolina has experienced fluctuations in its student-to-teacher ratio over the past decade, starting at approximately 15 students per teacher in 2014 and generally declining to just under 13 students per teacher by 2023. This trend indicates a gradual improvement in classroom density, dipping below the current national average of 14 students per teacher since 2020. For investors, real estate agents, and those considering relocating, these improvements could signal a commitment to enhancing educational quality, potentially making the area more attractive for families. Appraisers and insurance agents might also find this trend relevant as it can influence property values and risks associated with household demographics.
