Brookings County Real Estate and Livability Trends
Brookings County, South Dakota, has seen a 46% rise in median home values from $156,000 in 2015 to $227,800 in 2022, outpacing both state and national trends, aligning with significant increases in average taxable income. Real estate taxes have nearly doubled in a decade, jumping from $3,403.51 in 2012 to $6,127.66 in 2021, hinting at rising property values and growing demand. Mortgage activity... Read more
Brookings County Market Trends
Brookings County, South Dakota, has seen a 46% increase in median home values from $156,000 in 2015 to $227,800 in 2022, outpacing both state and national trends. The county has also observed variability in average residential energy tax credits, peaking at $938.46 in 2019, indicating possibly increased investments in energy-efficient upgrades. Real estate taxes have almost doubled in a decade,... Read more
Median Value of Occupied Housing Units in Brookings County, South Dakota Over the Last 8 Years
Brookings County, South Dakota, has experienced a compelling upward trajectory in median home values over the past eight years, climbing from $156,000 in 2015 to $227,800 in 2022. This growth outpaces both the national and state trends, where South Dakota saw an increase from $140,500 to $219,500, and the national median value rose from $125,500 to $179,400 during the same period. Investors and prospective homeowners might view this county's robust appreciation as indicative of favorable market conditions and a solid return on investment potential.
Residential Energy Tax Credit Per Tax Return in Brookings County, SD Over the Last 8 Years
Brookings County, South Dakota has seen notable fluctuations in average residential energy tax credits per tax return over the past eight years. Peaking in 2019 at approximately $938.46, the credits highlight periods where homeowners might have invested more significantly in energy-efficient improvements. Conversely, years like 2013 and 2020 show more conservative averages around $318.52 and $438.46, respectively. This variability may be of interest to potential investors and new residents, indicating community efforts towards sustainability which could also influence property values and development opportunities. Real estate agents and insurance assessors should consider these trends when evaluating the long-term appeal and potential costs associated with properties in the area.
Average Real Estate Taxes Per Tax Return in Brookings County, SD Over the Last 10 Years
Brookings County, South Dakota has seen a notable rise in real estate taxes per tax return over the last decade, nearly doubling from an average of $3,403.51 in 2012 to $6,127.66 in 2021. This upward trend could imply increased property values and potentially growing demand for real estate in the area. Such information might be crucial for investors considering real estate opportunities, while appraisers and insurance agents might need to adjust their valuations and premiums accordingly. Residents and potential newcomers should be aware of these rising costs, as they reflect broader economic shifts within the county.
Percentage of Farm Returns in Brookings County, SD Over the Last 10 Years
Brookings County, South Dakota has witnessed a gradual decline in the percentage of farm tax returns over the last decade, dropping from roughly 6.49% in 2012 to around 5.78% in 2021. Farm tax returns, which reflect the number of farming entities submitting tax documentation, are critical indicators of agricultural activity in the region. This decreasing trend could suggest a consolidation of farming operations or shifts toward other economic activities, presenting potentially significant implications for future investors, property developers, and residents considering the area's evolving landscape.
Number of Mortgages by Occupancy Type in Brookings County, SD Over the Last 5 Years in Brookings County
Brookings County, South Dakota has seen a notable fluctuation in mortgage counts across different occupancy types over the last five years. Principal residences have consistently dominated the market, peaking in 2020 with 1,664 mortgages, suggesting strong demand for primary living spaces. Investment properties, though considerably fewer, experienced a relative increase in 2020 before declining. Second residences remained the most stable but least common category. For potential investors, this trend hints at a dynamic market with varying opportunities dependent on economic conditions. Real estate agents and appraisers might find these variations crucial when assessing property values and demand, while insurance agents could adjust risk assessments based on occupancy types.
Economic Outlook
Brookings County, South Dakota, has experienced a substantial rise in the average taxable income per tax return, climbing from roughly $57,664.29 in 2013 to about $79,928.13 in 2021. There was a significant surge between 2019 and 2020, with taxable income hitting $81,669.58, hinting at economic shifts or major investments. Despite these increases, state and local income taxes have shown considerable variability, reaching $12,300.00 in 2021 but previously dipping as low as $6,100.00 in 2013.... Read more
Average Taxable Income per Tax Return in Brookings County, SD over the last 9 years
Brookings County, South Dakota has seen a notable increase in the average taxable income per tax return over the past nine years, surging from approximately $57,664.29 in 2013 to around $79,928.13 in 2021. Particularly striking was the sharp rise between 2019 and 2020, where taxable income spiked to $81,669.58, indicating possible economic shifts or major investments during that period. This consistent upward trend suggests a growing affluence in the area, making it an intriguing consideration for investors, property builders, and insurance agents analyzing market potential and financial stability.
Average State and Local Income Taxes Per Tax Return in Brookings County, SD Over the Last 10 Years
Brookings County, South Dakota has seen significant fluctuations in average state and local income taxes per tax return over the past decade. The high in 2021 reached $12,300.00, with notable dips such as in 2013 at $6,100.00 and 2017 at $6,473.68. Given these variable trends, anyone considering moving to or investing in Brookings County should be mindful of the potential for volatility in local tax burdens, which can impact overall financial planning and attractiveness of the region.
Average Total Tax Liability Per Tax Return in Brookings County, SD Over the Last 10 Years
Over the past decade in Brookings County, South Dakota, the average total tax liability per tax return has fluctuated significantly. Notably, 2020 saw a sharp increase to $13,393.95, which is a noteworthy jump compared to previous years. This spike might reflect economic adjustments or policy changes. Investors and real estate agents should consider these variations when evaluating the financial landscape, as tax liability trends could impact the overall cost-benefit analysis of owning property in the area. Similarly, appraisers and insurance agents must take these shifts into account to provide accurate valuations and risk assessments.
Cost of Living in Brookings County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,235 | $1,544 | $2,458 | $1,018 | $1,030 |
| 1 adult 4 children | $1,235 | $1,261 | $1,884 | $1,018 | $1,114 |
| 2 adults 3 children | $1,235 | $1,262 | $2,130 | $1,018 | $821 |
| 1 adult 3 children | $1,235 | $1,030 | $1,557 | $1,018 | $863 |
| 2 adults 2 children | $869 | $1,033 | $1,803 | $883 | $672 |
| 1 adult 2 children | $869 | $771 | $1,229 | $883 | $597 |
| 2 adults 1 child | $869 | $816 | $1,475 | $443 | $653 |
| 1 adult 1 child | $869 | $527 | $901 | $443 | $517 |
| 2 adults | $670 | $656 | $1,148 | $0 | $580 |
| 1 adult | $663 | $358 | $574 | $0 | $474 |
Safety trends & Data
Brookings County, South Dakota has experienced a notable decrease in property crime over the past five years. Larceny-theft incidents, the most common crime, dropped from 33.00 in 2018 to 9.00 in 2022. Burglary numbers also decreased, from 7.00 to 2.00 in the same timeframe. Vandalism fell significantly, from 13.00 in 2018 to just 1.00 in 2022. Despite minor fluctuations in motor vehicle theft and fraud, the overall reduction in crime could be a key point of interest for real estate investors,... Read more
Property Crime Trends in Brookings County, SD Over the Last 5 Years
Brookings County, South Dakota has seen a noticeable decrease in property crime over the past five years. Larceny-theft incidents, which were the most common, dropped from 33.0 in 2018 to 9.0 in 2022. Burglary has also shown a downward trend, with numbers declining from 7.0 in 2018 to 2.0 in 2022. Vandalism cases have shrunk significantly from a high of 13.0 in 2018 to just 1.0 in 2022. However, motor vehicle theft and fraud have been relatively stable, with slight increases observed in certain years. This data should be particularly relevant to real estate investors, insurance agents, and those considering relocating to the area, as it underscores an overall improvement in property security.
Demographics
Brookings County, South Dakota, shows a slightly higher male population compared to females, hinting at a potential demographic trend worth exploring for social and economic planning. The educational attainment data reflects a significant proportion with higher education degrees, which could signal a well-educated workforce. Age-wise, there's a noticeable concentration in the 20 to 24 age group, likely influenced by the presence of higher education institutions. The predominant racial... Read more
Race Distribution in Brookings County, South Dakota (2022)
Educational Attainment in Brookings County, South Dakota (2022)
Age Distribution in Brookings County, South Dakota
Citizen Population in Brookings County, South Dakota (2022)
Political Trends & Data
Brookings County, South Dakota, might lean conservative given Republicans garnered around 55% of the vote in the 2020 U.S. Presidential Election, yet noteworthy political diversity exists. Democrats claimed about 42%, indicating that democratic policies have some traction too. With libertarians drawing just north of 3%, there's a hint of varied political thought, albeit... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Brookings County, South Dakota, the 2020 U.S. Presidential Election saw Republican candidates capturing a likely strong lead with roughly 55% of the vote, while Democrats hovered around 42%. Libertarians trailed far behind, attracting just over 3%. This distribution suggests a significant preference for conservative policies in the area, yet the Democratic presence is not negligible, hinting at some degree of political diversity.
54.92% of voters voted for the Republican party in the 2020 Presidential Election
41.94% of voters voted for the Democrat party in the 2020 Presidential Election
3.14% of voters voted for the Livertarian party in the 2020 Presidential Election
School Data
Over the past decade, Brookings County, South Dakota has maintained a student-to-teacher ratio close to the national average of 14 students per teacher, with slight fluctuations. This stability in class size may appeal to families, educators, and real estate agents focused on highlighting local school performance. Consistent educational quality could also attract investors and influence property values, making the area a potentially reliable market for builders and insurance agents considering... Read more
Student-to-teacher ratio in Brookings County, South Dakota over the last 10 years
Over the past decade, Brookings County, South Dakota has generally trended close to the national average student-to-teacher ratio of 14 students per teacher. The ratio fluctuated, dipping as low as thirteen in 2015 and peaking a little above fourteen in 2023. This variability could influence decisions for families prioritizing class sizes, educators considering job opportunities, and real estate agents highlighting local school performance as a selling point. Investors and builders might see the stable ratio as a sign of consistent educational quality, impacting family migration trends and property values. Insurance agents might evaluate these trends when assessing the area's growth and development patterns.
