Faulk County Real Estate and Livability Trends
Faulk County, South Dakota saw median home values climb from $78,600 in 2015 to $115,300 in 2022, still lower than the state and national medians but perhaps enticing for budget-conscious buyers. Interestingly, 2022 brought a surge in mortgages for investment properties, hinting at a growing rental market. Real estate taxes showed notable volatility with peaks in 2015 ($2,300.00) and 2017... Read more
Faulk County Market Trends
Faulk County, South Dakota has seen its median home values rise significantly from $78,600 in 2015 to $115,300 in 2022. Although this still trails behind South Dakota’s median of $219,500 and the national median of $179,400, it may present opportunities for budget-conscious buyers. Notably, mortgage counts for investment properties spiked in 2022, pointing to a possible burgeoning rental... Read more
Median Value of Occupied Housing Units in Faulk County, South Dakota Over the Last 8 Years
Faulk County, South Dakota has experienced a significant upward trend in median home values over the past eight years, jumping from $78,600 in 2015 to $115,300 in 2022. This is still considerably lower compared to South Dakota’s median of $219,500 and the national median of $179,400 in 2022, making Faulk County potentially attractive for more budget-conscious buyers. This upward shift, although more modest, may indicate growing demand and investment potential in this county, particularly when observed within the broader context of increasing property values both statewide and nationally.
Residential Energy Tax Credit Per Tax Return in Faulk County, SD Over the Last 3 Years
Faulk County, South Dakota, has experienced fluctuations in average residential energy tax credits per tax return over the past three years. In 2013, the average credit was $200.00, spiking significantly to approximately $766.67 in 2014 before dropping again to $300.00 in 2015. These trends may suggest varying levels of investment or program participation in energy efficiency improvements among residents, which could impact property values and insurance assessments. Real estate agents and investors might find this data valuable for forecasting future market behaviors or identifying energy-efficient communities.
Average Real Estate Taxes Per Tax Return in Faulk County, SD Over the Last 6 Years
Faulk County, South Dakota has seen fluctuating real estate taxes per tax return over the past six years, with notable increases in 2015 ($2300.00) and 2017 ($2216.67) compared to a lower point in 2013 ($1233.33). Such volatility in property taxes may matter for potential investors or property buyers as it could impact long-term planning and financial stability. Those in related fields should be aware of these shifts for more accurate forecasting and advising.
Percentage of Farm Returns in Faulk County, SD Over the Last 10 Years
The percentage of farm tax returns in Faulk County, South Dakota has fluctuated over the last ten years with minor ups and downs. Starting at approximately 30.30% in 2012, it slightly decreased to 29.29% in 2013, then to 28.00% in 2014, and further to 25.00% in 2015. It bounced back slightly with 28.57% in 2016 and 29.17% in 2017, and peaked at 31.25% in 2018. However, it saw another dip to 26.36% in 2019, mildly recovering to 30.75% in 2020, only to decrease again to 26.36% in 2021. Farm tax returns show the proportion of tax filings attributed to farm income, which can be a key indicator of the agricultural activity in the area. The fluctuating percentages may suggest variability in farm profitability, changes in agricultural practices, or shifts in farm ownership and operations. For those looking to invest, move to, or develop property in Faulk County, understanding these dynamics can help gauge the local economic health and potential risks or opportunities within the agricultural sector.
Number of Mortgages by Occupancy Type in Faulk County, SD Over the Last 5 Years in Faulk County
Over the last five years, mortgage counts in Faulk County, South Dakota show significant fluctuations, particularly with a surge in investment property mortgages in 2022, which increased from 1 to 4. Principal residence mortgages dominate the scene but saw a noticeable dip in 2022 compared to 2021. These changes in occupancy type matter because they reflect shifting housing demands and preferences, which can impact property values, local economic strength, and investment opportunities. For investors, a rise in investment property mortgages could signal potential growth markets or shifts in rental demand. Real estate agents and appraisers might focus on these trends to better advise clients. Meanwhile, fluctuations in principal residence mortgages could influence construction patterns and insurance policies, underpinning broader socioeconomic shifts within the county.
Economic Outlook
In Faulk County, South Dakota, the average taxable income per tax return peaked at approximately $67,547.25 in 2020, suggesting economic resilience in the area despite some instability, evidenced by a dip to roughly $50,901.82 in 2019. Investors and real estate agents might use these fluctuations to forecast property values and market mood. Furthermore, the average tax liability per tax return has varied, reaching a peak of $12,550.00 in 2021 after a low of $8,841.11 in 2015. These trends may... Read more
Average Taxable Income per Tax Return in Faulk County, SD over the last 9 years
The average taxable income per tax return in Faulk County, South Dakota, has experienced fluctuations over the last nine years, peaking at approximately $67,547.25 in 2020. This trend could suggest potential for growth and economic resilience in the area, although the dip in 2019 to about $50,901.82 indicates some instability. For investors and real estate agents, understanding these variations could be critical for forecasting property values and gauging the market mood. Insurance agents and appraisers might use this information to better assess policy costs and determine accurate property valuations. Those looking to move to Faulk County might view the general upward trend post-2019 as an indicator of recovering economic health.
Average Total Tax Liability Per Tax Return in Faulk County, SD Over the Last 10 Years
Faulk County, South Dakota has seen a fluctuating average tax liability per tax return over the past decade. Starting at $12,207.50 in 2012, it saw a downward trend to a low of $8,841.11 in 2015, followed by a period of moderate increases and decreases. By 2021, it reached a peak of $12,550.00. These variations could indicate shifts in economic conditions, taxpayer income levels, and changes in tax laws impacting residents and investors in the area. Potential investors, real estate agents, and those considering moving to or building in Faulk County may find these trends suggestive of an evolving financial landscape.
Cost of Living in Faulk County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,105 | $1,472 | $2,458 | $1,019 | $1,072 |
| 1 adult 4 children | $1,105 | $1,202 | $1,884 | $1,019 | $1,147 |
| 2 adults 3 children | $1,105 | $1,202 | $2,130 | $1,019 | $838 |
| 1 adult 3 children | $1,105 | $982 | $1,557 | $1,019 | $893 |
| 2 adults 2 children | $828 | $984 | $1,803 | $883 | $710 |
| 1 adult 2 children | $828 | $735 | $1,229 | $883 | $650 |
| 2 adults 1 child | $828 | $778 | $1,475 | $442 | $686 |
| 1 adult 1 child | $828 | $502 | $901 | $442 | $550 |
| 2 adults | $629 | $625 | $1,148 | $0 | $607 |
| 1 adult | $576 | $341 | $574 | $0 | $479 |
Safety trends & Data
Faulk County, South Dakota has experienced low variability in property crime over the past couple of years, with isolated incidents like one vandalism in 2019 and one fraud in 2022. This suggests a generally safe environment which could be appealing for investors, home buyers, and real estate agents. This trend may have favorable influences on property valuations and insurance... Read more
Property Crime Trends in Faulk County, SD Over the Last 2 Years
Property crime in Faulk County, South Dakota has shown variability over the past two years, with isolated incidents including one count of vandalism in 2019 and one count of fraud in 2022. The low occurrence of property crimes suggests a generally safe environment, which might be appealing for potential investors, home buyers, or real estate agents assessing market potential. This trend could potentially influence property valuations and insurance premiums favorably.
Demographics
Faulk County, South Dakota sees a slightly higher male population compared to females, with an adult population of roughly even distribution. Educational attainment indicates most adults at least have a high school diploma or GED, with a significant portion having some college experience or higher. The age distribution leans towards the older population with the highest number of residents aged 75 and over. Racial diversity is minimal, predominantly composed of a White demographic. These trends... Read more
Race Distribution in Faulk County, South Dakota (2022)
Educational Attainment in Faulk County, South Dakota (2022)
Age Distribution in Faulk County, South Dakota
Citizen Population in Faulk County, South Dakota (2022)
Political Trends & Data
Faulk County, South Dakota, displayed a strong Republican preference in the 2020 U.S. Presidential Election, with around 82% of votes going to the GOP. Democrats received about 17%, while Libertarians secured nearly 2%. This entrenched Republican leaning could pose significant challenges for other parties aiming to increase their voter base in future... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In the 2020 U.S. Presidential Election, Faulk County, South Dakota, perhaps unsurprisingly, showed a strong leaning towards the Republican Party with approximately 82% of the votes. Democrats lagged significantly behind, capturing around 17%, while the Libertarian Party managed nearly 2%. The data suggests a deeply entrenched Republican preference within this county, highlighting the potential challenges other parties might face in gaining a larger foothold in future elections.
81.56% of voters voted for the Republican party in the 2020 Presidential Election
16.75% of voters voted for the Democrat party in the 2020 Presidential Election
1.69% of voters voted for the Livertarian party in the 2020 Presidential Election
School Data
Faulk County, South Dakota, has seen fluctuating student-to-teacher ratios over the past decade, ranging from a high of 17 in 2015 to a low of about 10 in 2014. Recently, ratios have stabilized around 12, which is below the national average of 14. Smaller class sizes may attract families looking for more individualized attention for their children, making the area appealing for real estate agents marketing homes and investors focused on community development. Lower ratios could also draw... Read more
Student-to-teacher ratio in Faulk County, South Dakota over the last 10 years
Faulk County, South Dakota has experienced fluctuating student-to-teacher ratios over the past decade, with a high of 17 in 2015 and a low of about 10 in 2014. Recently, the ratios have stabilized around 12, which is below the national average of 14 students per teacher. These lower ratios may indicate smaller class sizes, potentially offering more individualized attention for students. This trend could be appealing for families considering a move to the area, real estate agents marketing homes, and investors focusing on community development. Lower ratios might also attract teachers seeking less crowded classrooms, affecting local workforce dynamics.
