Hamlin County Real Estate and Livability Trends
In Hamlin County, South Dakota, the median home values have seen a notable rise, nearly doubling from $112,100 in 2015 to $181,800 in 2022, which might pique the interest of investors and developers. Mortgages for primary residences surged to 360 in 2021, while investment property mortgages dipped, hinting at a shift towards homeownership. Even though real estate taxes peaked at $4,680.00 in... Read more
Hamlin County Market Trends
In Hamlin County, South Dakota, the median home values have nearly doubled from $112,100 in 2015 to $181,800 in 2022, outpacing the national trend. Real estate taxes also saw a significant rise, peaking at $4,680.00 in 2020, which may influence property investment decisions. Mortgages for principal residences have surged, hitting 360 in 2021, while investment property mortgages dipped to 6 in... Read more
Median Value of Occupied Housing Units in Hamlin County, South Dakota Over the Last 8 Years
The median home values in Hamlin County, South Dakota have shown a consistent upward trend over the past eight years, nearly doubling from $112,100 in 2015 to $181,800 in 2022. This growth outpaces the national median, which increased from $125,500 to $179,400 in the same period. Within South Dakota, Hamlin County's housing market has been on a steeper incline, particularly noteworthy when compared to the state's figures that have risen from $140,500 in 2015 to $219,500 in 2022. For potential investors or those considering relocation, this trend indicates a robust and potentially lucrative market in Hamlin County.
Residential Energy Tax Credit Per Tax Return in Hamlin County, SD Over the Last 5 Years
Over the last five years in Hamlin County, South Dakota, there's been a noticeable fluctuation in the average residential energy tax credit per tax return. The credit peaked in 2015 at $250.00, showing a keen interest in energy efficiency investments. However, the subsequent years, particularly 2014 and 2021, observed a drop back to $180.00 and $200.00 respectively, suggesting a variable engagement in energy-efficient home improvements. These trends could inform property investors and real estate agents about the potential value of energy-efficient upgrades in the local market.
Average Real Estate Taxes Per Tax Return in Hamlin County, SD Over the Last 10 Years
Over the past decade, Hamlin County, South Dakota has seen real estate taxes per tax return rise overall. From $2,896.88 in 2012 to a peak of $4,680.00 in 2020, the data indicates a significant upward trend, averaging an increase annually with a notable spike in 2018-2020. The unusually high figures in the most recent years may signal increasing property values or escalating tax rates, impacting those considering investment or relocation to the area. Whether for appraisals, insurance, or property development, understanding these fluctuations is key for strategic planning in Hamlin County.
Percentage of Farm Returns in Hamlin County, SD Over the Last 10 Years
Over the last decade, Hamlin County, South Dakota, has experienced a slight but notable decline in the percentage of farm tax returns, moving from about 19.23% in 2012 to approximately 16.17% in 2021. Farm tax returns generally refer to the tax filings submitted by agricultural businesses, capturing income, expenses, and profit margins from farming activities. This trend could potentially indicate shifts in farming viability, operational scale, or even land use changes which might influence decisions for those considering agricultural investments, property development, or relocation to the area.
Number of Mortgages by Occupancy Type in Hamlin County, SD Over the Last 5 Years in Hamlin County
In Hamlin County, South Dakota, the past five years have shown a significant rise in mortgages for principal residences, peaking at 360 in 2021. Conversely, the number of mortgages for investment properties has tapered off, hitting a low of 6 in 2020. Second residences have seen moderate fluctuation, with an interesting peak at 71 in 2020 before stabilizing. These shifts could suggest changing priorities in the county's housing market, impacting investment strategies, home valuations, and development opportunities. Real estate agents, appraisers, and insurance agents may find these trends crucial for guiding client decisions in a market showing a preference for long-term, principal residency. If you're thinking about moving to or investing in Hamlin County, these occupancy trends are worth noting for a more informed decision-making process.
Economic Outlook
Hamlin County, South Dakota has witnessed notable fluctuations in average taxable income, peaking at $79,801.72 in 2021. Variability in state and local income taxes, alongside a peak in total tax liability per tax return at $11,634.84 in 2021, suggests ongoing economic shifts. These trends could make Hamlin County an intriguing spot for investors, real estate agents, and potential new residents, hinting at a dynamic economic environment that possibly favors property development and real estate... Read more
Average Taxable Income per Tax Return in Hamlin County, SD over the last 9 years
Hamlin County, South Dakota has seen quite a fluctuation in average taxable income per tax return over the past nine years. From $55,407.42 in 2013, the county has experienced notable increases and decreases, with a substantial peak in 2021 at $79,801.72. Despite some dips, such as in 2016 with an average of $56,430.30, the overall trend suggests a steady incline in taxable income, likely making the area appealing for investors and new residents. This growth could hint at an improving economic environment, possibly favorable for property development and real estate opportunities.
Average State and Local Income Taxes Per Tax Return in Hamlin County, SD Over the Last 5 Years
Hamlin County, South Dakota has experienced significant fluctuations in average state and local income taxes per tax return over the past five years. Starting at $8,750 in 2012, taxes dipped to $7,100 in 2013 but spiked dramatically to $12,900 in 2014. By 2015, they normalized somewhat to $9,333.33 before leveling out at around $9,766.67 in 2016. These variations could suggest economic shifts or policy changes impacting residents' tax burdens, offering a potentially dynamic environment for investors and real estate agents to explore.
Average Total Tax Liability Per Tax Return in Hamlin County, SD Over the Last 10 Years
Over the past decade, the average total tax liability per tax return in Hamlin County, South Dakota, has displayed notable fluctuations. While there was a rise from $9,005.00 in 2012 to a peak of $11,634.84 in 2021, interim years saw significant dips and recoveries. For instance, after a high in 2015 at $11,085.10, the liability dropped to $8,533.80 in 2017. This volatility could be of interest to potential investors, real estate agents, and those contemplating relocation, as it might reflect broader economic shifts specific to the county. Understanding these patterns could also be useful for appraisers and insurance agents when assessing risk and property values.
Cost of Living in Hamlin County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,156 | $1,496 | $2,458 | $1,019 | $1,062 |
| 1 adult 4 children | $1,156 | $1,222 | $1,884 | $1,019 | $1,161 |
| 2 adults 3 children | $1,156 | $1,222 | $2,130 | $1,019 | $851 |
| 1 adult 3 children | $1,156 | $998 | $1,557 | $1,019 | $908 |
| 2 adults 2 children | $826 | $1,000 | $1,803 | $883 | $705 |
| 1 adult 2 children | $826 | $747 | $1,229 | $883 | $643 |
| 2 adults 1 child | $826 | $791 | $1,475 | $442 | $682 |
| 1 adult 1 child | $826 | $511 | $901 | $442 | $532 |
| 2 adults | $660 | $635 | $1,148 | $0 | $600 |
| 1 adult | $575 | $346 | $574 | $0 | $481 |
Safety trends & Data
Hamlin County, South Dakota, has seen minor but notable fluctuations in property crime over the past five years. Larceny-theft is the most frequent crime, peaking at two incidents in 2018. Burglary saw a slight uptick in 2020 before slowing down. While fraud and vandalism occur sporadically but consistently, the overall low crime rates suggest the area is still relatively safe. However, it warrants attention from potential investors, homeowners, and local authorities to maintain and improve... Read more
Property Crime Trends in Hamlin County, SD Over the Last 5 Years
Hamlin County, South Dakota, has seen minor but notable fluctuations in property crime over the past five years. The most frequent crime has been larceny-theft, peaking at two incidents in 2018. Burglary incidents occurred sporadically, with a slight uptick in 2020 before slowing down. Fraud and vandalism appear sporadically but consistently enough to show a need for ongoing vigilance. Given the low overall crime rates, the area might still be considered relatively safe but warrants attention from potential investors, homeowners, and local authorities to maintain and improve security.
Demographics
Hamlin County in South Dakota appears to have a fairly balanced gender distribution and a population featuring a significant number of high school graduates and those with some college experience. The age distribution leans towards a younger demographic, particularly under 10 years and 10 to 14 years. The racial makeup is predominantly White, accounting for the vast majority of the population. This demographic profile might suggest the county has stable educational structures in place and a... Read more
Race Distribution in Hamlin County, South Dakota (2022)
Educational Attainment in Hamlin County, South Dakota (2022)
Age Distribution in Hamlin County, South Dakota
Citizen Population in Hamlin County, South Dakota (2022)
Political Trends & Data
Hamlin County, South Dakota, reveals a strong Republican preference in the 2020 U.S. Presidential Election, with Republicans possibly receiving around 77% of the votes. Democrats hovered around 21%, and Libertarians barely made a mark with about 2%. This notable leaning could signify a predominantly conservative sentiment influencing various local matters, including real... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Hamlin County in South Dakota showed a strong lean toward the Republican party in the 2020 U.S. Presidential Election, with Republicans possibly receiving around 77% of the votes. Democrats, in contrast, garnered roughly 21%, while Libertarians captured just about 2%. This significant disparity might indicate a dominant conservative preference in the area.
76.94% of voters voted for the Republican party in the 2020 Presidential Election
20.99% of voters voted for the Democrat party in the 2020 Presidential Election
2.08% of voters voted for the Livertarian party in the 2020 Presidential Election
School Data
The student-to-teacher ratio in Hamlin County, South Dakota has fluctuated over the past decade, peaking at 15 students per teacher in 2017, 2020, and 2021, and reaching its lowest at around 13 in 2014. On average, the ratio slightly exceeds the national average of 14 students per teacher. These changes might suggest variations in school funding, teacher availability, or shifts in the student population, all factors that can influence property demand, school district appraisals, and investor... Read more
Student-to-teacher ratio in Hamlin County, South Dakota over the last 10 years
The student-to-teacher ratio in Hamlin County, South Dakota has shown some variability over the past decade, peaking at 15 students per teacher in 2017, 2020, and 2021 and dropping to its lowest at around 13 in 2014. On average, the ratio slightly exceeds the national average of 14 students per teacher. This trend could indicate shifts in school funding, teacher availability, or the student population, all of which are crucial for real estate agents evaluating property demand, appraisers assessing school district quality, and potential investors considering the area's infrastructure. Moreover, changes in the ratio might influence individual decisions about moving to the area, given that a lower ratio often correlates with more personalized education.
