Hutchinson County Real Estate and Livability Trends
Hutchinson County, South Dakota, has shown promising shifts in economic indicators, with average taxable income per tax return rising to $71,576.72 in 2021, potentially reflecting new job market opportunities. Concurrently, median home values have nearly doubled to $143,800 from 2015 to 2022, suggesting lucrative investment opportunities as the region aligns with broader market trends. Despite... Read more
Hutchinson County Market Trends
Hutchinson County, South Dakota has seen median home values skyrocket from $72,000 in 2015 to $143,800 in 2022, highlighting potential investment opportunities as the region catches up to state and national trends. Residential energy tax credits have been on a steady decline, dropping from an average of $628.57 in 2013 to $275.00 by 2021, possibly affecting the attractiveness of energy-efficient... Read more
Median Value of Occupied Housing Units in Hutchinson County, South Dakota Over the Last 8 Years
Over the past eight years, Hutchinson County, South Dakota has seen a dramatic increase in median home values, jumping from $72,000 in 2015 to $143,800 in 2022. This 100% rise starkly contrasts with South Dakota’s overall increase from $140,500 to $219,500 and the national rise from $125,500 to $179,400. Such differences highlight potential investment opportunities in Hutchinson County, which seems to be catching up, indicating robust local demand and potentially lower initial investment costs for new buyers compared to broader markets. This surge might pique the interest of investors, homebuyers, and developers eyeing regions with strong appreciation potential.
Residential Energy Tax Credit Per Tax Return in Hutchinson County, SD Over the Last 7 Years
Residential energy tax credits in Hutchinson County, South Dakota have displayed a downward trend over the past seven years. Starting at an average of $628.57 in 2013, the credits gradually declined to $275.00 by 2021. This decreasing pattern could indicate a reduction in either the uptake or availability of energy-efficient home upgrades, which may influence property values and energy costs. Lower credits might impact overall household expenses and property attractiveness for new buyers or investors seeking energy-efficient homes.
Average Real Estate Taxes Per Tax Return in Hutchinson County, SD Over the Last 10 Years
Glancing at Hutchinson County, South Dakota over the past decade, there's a noticeable fluctuation in average real estate taxes per tax return. The taxes have hovered around $2,000.00 to $2,800.00, breaking $2,500.00 twice in 2019 and 2021. This kind of variability might indicate periodic property reassessments or changing local fiscal needs. The spike in 2019 and the consistent increase till 2021 could reflect rising property values or adjustments in tax rates. These trends could be pivotal for potential investors weighing taxation against property values and for residents keeping an eye on their annual homeownership costs.
Percentage of Farm Returns in Hutchinson County, SD Over the Last 10 Years
The farm tax returns in Hutchinson County, South Dakota have generally hovered around 23% from 2012 to 2018, showing relative stability. However, 2019 saw a noticeable dip to approximately 19.17%, which could suggest economic pressure or changing agricultural practices. In subsequent years, the numbers slightly rebounded to about 21.52% in 2020 and 21.42% in 2021. Understanding farm tax returns is crucial as they provide insights into the agricultural sector's health, which is a significant economic driver in this region. For investors, developers, and residents, these trends can indicate the overall economic stability and vitality of Hutchinson County, potentially impacting property values and growth opportunities.
Number of Mortgages by Occupancy Type in Hutchinson County, SD Over the Last 5 Years in Hutchinson County
Hutchinson County, South Dakota, has seen significant fluctuations in mortgage numbers for different occupancy types over the last five years. There is a notable increase in principal residence mortgages, peaking at 242 in 2021. Conversely, mortgages for second residences and investment properties have remained relatively low and stable, with investment properties reaching a high of only 9 in 2022. Changes in occupancy type can be crucial as they reflect shifting priorities and economic conditions, impacting property values, market demands, and financial risk assessments. Investors, appraisers, real estate agents, and insurance agents might find these trends useful when considering property developments or market strategies.
Economic Outlook
Hutchinson County, South Dakota has seen an interesting uptick in average taxable income per tax return, rising from $58,598.20 in 2020 to $71,576.72 in 2021, which might reflect growing economic opportunities or shifts in the job market that could attract new residents and investors. On the flip side, the average state and local income taxes per tax return have notably decreased, from $3,800.00 in 2012 to $3,050.00 in 2013, hinting at potential tax policy changes or economic shifts that lower... Read more
Average Taxable Income per Tax Return in Hutchinson County, SD over the last 9 years
Hutchinson County, South Dakota shows a fluctuating but overall upward trend in average taxable income per tax return over the past nine years, with a notable increase from $58,598.20 in 2020 to $71,576.72 in 2021. This upward trajectory may suggest growing economic opportunities or changes in the local job market, potentially making the area more attractive for investors and new residents. It's important for real estate agents, appraisers, and insurance agents to consider this income growth when evaluating property values and market potential.
Average State and Local Income Taxes Per Tax Return in Hutchinson County, SD Over the Last 2 Years
Hutchinson County, South Dakota has seen a marked decrease in average state and local income taxes per tax return over the last two years, dropping from $3,800.00 in 2012 to $3,050.00 in 2013. This trend could hint at potential changes in the local economy or tax policies that might be quite significant for potential investors, homebuyers, and businesses interested in the region. Lower tax burdens may make the area increasingly attractive for those considering relocation or investment, as it could indicate a more favorable financial environment. However, it's important to consider other economic factors alongside this tax data for a comprehensive assessment.
Average Total Tax Liability Per Tax Return in Hutchinson County, SD Over the Last 10 Years
Over the past decade, Hutchinson County, South Dakota has seen a fluctuating but generally increasing trend in average total tax liability per tax return. After starting at $7,560.24 in 2012, the county experienced a consistent rise with minor declines until it peaked dramatically at $11,168.06 in 2021. This increasing tax burden could signify a rising economic activity or increased property values, impacting investment strategies, real estate pricing, and insurance premiums. Those considering moving or investing here should be mindful of these tax trends as they might influence overall living costs and financial planning.
Cost of Living in Hutchinson County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,092 | $1,504 | $2,395 | $1,019 | $999 |
| 1 adult 4 children | $1,092 | $1,228 | $1,835 | $1,019 | $1,086 |
| 2 adults 3 children | $1,092 | $1,229 | $2,076 | $1,019 | $793 |
| 1 adult 3 children | $1,092 | $1,003 | $1,516 | $1,019 | $837 |
| 2 adults 2 children | $897 | $1,006 | $1,757 | $883 | $700 |
| 1 adult 2 children | $897 | $751 | $1,197 | $883 | $641 |
| 2 adults 1 child | $897 | $795 | $1,438 | $442 | $680 |
| 1 adult 1 child | $897 | $513 | $878 | $442 | $534 |
| 2 adults | $681 | $639 | $1,119 | $0 | $587 |
| 1 adult | $600 | $348 | $560 | $0 | $475 |
Safety trends & Data
Hutchinson County, South Dakota, is often characterized by its relatively low property crime rates. While there's been occasional spikes, particularly in Larceny-Theft during 2021, incidents such as Fraud and Forgery remain isolated and infrequent. This typically low-crime environment might be particularly attractive to homebuyers or investors prioritizing safety. Nonetheless, potential investors should keep these trends in mind for comprehensive risk... Read more
Property Crime Trends in Hutchinson County, SD Over the Last 4 Years
Property crime in Hutchinson County, South Dakota has seen varied but relatively low incident rates over the past four years, with notable spikes in Larceny-Theft in 2021 and isolated cases of Fraud and Forgery in previous years. Such sparse and minor occurrences suggest a generally low-crime environment which could be appealing to potential homebuyers or investors seeking a safe and stable community. However, those considering an investment or development should remain aware of these patterns for comprehensive risk assessments.
Demographics
Hutchinson County, South Dakota, shows a relatively balanced gender distribution with slightly more females than males. Educational attainment reveals a high number of high school graduates and individuals with some college education, yet a smaller proportion holding graduate or professional degrees. In terms of age, a significant portion of the population is under 10 years or in the 55 to 64-year age range, suggesting potential long-term shifts in community needs and services. The racial... Read more
Race Distribution in Hutchinson County, South Dakota (2022)
Educational Attainment in Hutchinson County, South Dakota (2022)
Age Distribution in Hutchinson County, South Dakota
Citizen Population in Hutchinson County, South Dakota (2022)
Political Trends & Data
In Hutchinson County, South Dakota, the 2020 U.S. Presidential Election results indicate a strong Republican preference, with the party securing roughly 78% of the vote. The Democratic party captured around 20%, and the Libertarian party received just over 1.6%. This substantial Republican support might reflect the county's demographic or cultural leanings, possibly impacting various local policies and development... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Hutchinson County, South Dakota, the 2020 U.S. Presidential Election results suggest an overwhelming preference for the Republican party, which garnered approximately 78% of the vote. Meanwhile, the Democratic party captured about 20%, and the Libertarian party received just over 1.6%. The pronounced support for the Republican party might reflect the county's political leanings and possibly its demographic or cultural factors.
78.15% of voters voted for the Republican party in the 2020 Presidential Election
20.23% of voters voted for the Democrat party in the 2020 Presidential Election
1.62% of voters voted for the Livertarian party in the 2020 Presidential Election
School Data
In Hutchinson County, South Dakota, the student-to-teacher ratio over the past decade has consistently stayed below the national average of 14, varying between 10 and 12 students per teacher. This indicates more personalized attention for students, which can be a significant draw for families and educators. For real estate agents and investors, this feature stands out as a strong selling point, suggesting a community dedicated to quality education. Appraisers and insurance agents might also... Read more
Student-to-teacher ratio in Hutchinson County, South Dakota over the last 10 years
Over the past 10 years in Hutchinson County, South Dakota, the student-to-teacher ratio has generally remained below the national average of 14 students per teacher, fluctuating between approximately 10 and 12 students per teacher. Notably, the lowest ratio was seen in 2017 at 10 students per teacher, while the highest was in 2019 with 12 students per teacher. This relatively low student-to-teacher ratio could imply more personalized attention for students, which might appeal to families considering a move to the area, as well as educators looking for environments conducive to individualized teaching. Investors and real estate agents might see this as a selling point for residential properties, suggesting a community focused on quality education. Moreover, such favorable ratios can be an attractive factor for appraisers and insurance agents when assessing the value and risk of properties in the locality.
