McPherson County Real Estate and Livability Trends
McPherson County, South Dakota's real estate market is characterized by affordability, with median home values rising from $57,800 in 2015 to $77,900 in 2022, still lower than state and national medians. Despite significant fluctuations in average taxable income and total tax liability per tax return, the area shows signs of economic resilience. A notable increase in the average residential... Read more
McPherson County Market Trends
McPherson County, South Dakota has seen median home values rise from $57,800 in 2015 to $77,900 in 2022, though these figures are still significantly lower than both state and national medians, suggesting potential opportunities for affordable real estate investments. The average residential energy tax credit per tax return increased sharply from $200.00 in 2014 to $650.00 in 2015, indicating a... Read more
Median Value of Occupied Housing Units in McPherson County, South Dakota Over the Last 8 Years
McPherson County, South Dakota has seen a significant upswing in median home values over the past eight years, from $57,800 in 2015 to $77,900 in 2022. Despite this increase, the county's median home value remains substantially lower than both the state median, which reached $219,500 in 2022, and the national median, which climbed to $179,400 the same year. This comparatively lower median home value could present unique opportunities for investors or homebuyers looking for more affordable housing options in a rising market.
Residential Energy Tax Credit Per Tax Return in McPherson County, SD Over the Last 2 Years
McPherson County, South Dakota, has seen a notable increase in the average residential energy tax credit per tax return, jumping from $200.00 in 2014 to $650.00 in 2015. This trend suggests a growing emphasis on energy-efficient upgrades among homeowners, which could be influenced by local or state incentives. For investors, appraisers, insurance agents, and real estate professionals, this shift may indicate a heightened interest in sustainable living, potentially increasing the value and desirability of properties with energy-efficient features.
Average Real Estate Taxes Per Tax Return in McPherson County, SD Over the Last 6 Years
McPherson County, South Dakota has seen fluctuating trends in average real estate taxes over the past six years, with notable peaks in 2013 and 2016 at $2,100.00 and $2,333.33 respectively. This variability suggests potential changes in local tax policies or shifts in property values. These trends may indicate evolving financial obligations for property owners and could influence decisions for those considering investment, relocation, or new constructions in the area. Real estate agents, appraisers, and insurance agents might find these insights valuable for evaluating market conditions and advising clients accordingly.
Percentage of Farm Returns in McPherson County, SD Over the Last 10 Years
McPherson County, South Dakota, has seen varying trends in the percentage of farm tax returns over the last decade, with a noticeable peak in 2014 at around 31%. Since then, there's been a gradual decline, dropping to approximately 23% by 2021. For those eyeing investment or property development, understanding these nuances offers insights into the local agricultural economy. Farm tax returns reflect the economic health and productivity of farming operations, suggesting potential fluctuations in farmland value and community growth driven by agricultural performance.
Number of Mortgages by Occupancy Type in McPherson County, SD Over the Last 5 Years in McPherson County
In McPherson County, South Dakota, over the last five years, principal residences have consistently dominated the mortgage market, often accounting for an overwhelming majority of the transactions each year. Investment properties and second residences represent a smaller fraction of the total, though there has been a slight uptick in these categories. These shifts in occupancy type could impact market dynamics by signaling changing investor interest, potentially influencing property values and rental markets. For investors, understanding these patterns may reveal opportunities or risks, whereas appraisers and insurers may adjust their valuations and premiums accordingly based on the prevalence and risk profiles of different property types. Real estate agents and home builders might strategize their offerings to align with the predominant demand for principal residences, while those moving to the area can gauge the community makeup and housing stability.
Economic Outlook
McPherson County, South Dakota has exhibited quite a bit of variability in average taxable income per tax return over the last nine years. After starting at $50,695.15 in 2013 and peaking at $60,091.75 the following year, it dipped to a low of $44,317.27 in 2019, before recovering to $56,885.19 by 2021. This trend suggests periods of economic resilience but also points to necessary caution in financial planning. Similarly, the average total tax liability per tax return has seen significant... Read more
Average Taxable Income per Tax Return in McPherson County, SD over the last 9 years
Investors and real estate agents eyeing McPherson County, South Dakota, will notice that the average taxable income per tax return has been quite variable over the past nine years. Starting at $50,695.15 in 2013, it peaked in 2014 at $60,091.75 before experiencing some fluctuations, notably dipping to $44,317.27 in 2019, but bouncing back to $54,672.45 in 2020 and reaching $56,885.19 in 2021. This interplay between peaks and troughs can be of interest to appraisers and insurers evaluating economic stability and property values over time. For those planning to move or build in McPherson County, this trend might suggest periods of economic resilience but also caution in budgeting and financial planning.
Average Total Tax Liability Per Tax Return in McPherson County, SD Over the Last 10 Years
McPherson County, South Dakota has seen significant fluctuations in the average total tax liability per tax return over the past decade, peaking at $9,541.56 in 2014 and dipping to the lowest at $6,226.76 in 2018. Recent years indicate a resurgence, reaching $8,027.50 in 2021. These trends could reflect varying economic factors impacting residents' incomes and the cost of living. For investors, real estate agents, and potential residents, these ups and downs can signal broader economic conditions and might influence decisions on property investments and valuations.
Cost of Living in McPherson County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,174 | $1,472 | $2,458 | $1,019 | $1,052 |
| 1 adult 4 children | $1,174 | $1,202 | $1,884 | $1,019 | $1,150 |
| 2 adults 3 children | $1,174 | $1,202 | $2,130 | $1,019 | $841 |
| 1 adult 3 children | $1,174 | $982 | $1,557 | $1,019 | $895 |
| 2 adults 2 children | $826 | $984 | $1,803 | $883 | $692 |
| 1 adult 2 children | $826 | $735 | $1,229 | $883 | $624 |
| 2 adults 1 child | $826 | $778 | $1,475 | $442 | $668 |
| 1 adult 1 child | $826 | $502 | $901 | $442 | $517 |
| 2 adults | $628 | $625 | $1,148 | $0 | $576 |
| 1 adult | $575 | $341 | $574 | $0 | $463 |
Demographics
McPherson County, South Dakota, exhibits a balanced gender ratio, with males slightly outnumbering females. Educational attainment trends show a significant portion of the population has completed high school or some college, though higher education degrees are less common. Age distribution indicates a sizable elderly population, with noteworthy percentages in the 55 to 64 and 65 to 74 age groups, potentially pointing to a long-term resident demographic. Racial diversity is limited, as the vast... Read more
Race Distribution in McPherson County, South Dakota (2022)
Educational Attainment in McPherson County, South Dakota (2022)
Age Distribution in McPherson County, South Dakota
Citizen Population in McPherson County, South Dakota (2022)
Political Trends & Data
In McPherson County, South Dakota, the 2020 U.S. Presidential Election showed a strikingly strong preference for the Republican Party with over 81% of the votes. The Democratic Party lagged far behind with around 17%, and the Libertarian Party managed only 2%. These voting trends could indicate a solid Republican influence, possibly mirroring the area's political and cultural... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In McPherson County, South Dakota, the 2020 U.S. Presidential Election saw a dominant lean towards the Republican Party, which garnered just over 81% of the votes. The Democratic Party trailed significantly with around 17%, while the Libertarian Party captured just 2%. The Green Party and independent candidates did not seem to make any impact. This voting pattern might suggest a strong Republican presence in the area, possibly reflecting broader political and cultural leanings within the county.
81.19% of voters voted for the Republican party in the 2020 Presidential Election
16.77% of voters voted for the Democrat party in the 2020 Presidential Election
2.04% of voters voted for the Livertarian party in the 2020 Presidential Election
School Data
McPherson County, South Dakota has seen its student-to-teacher ratio mostly below the national average, but a dramatic spike in 2022 to 78 students per teacher stands out. This anomaly could hint at shifting demographics or resource allocation changes, impacting real estate valuations and signaling potential disparities in education quality. Investors and real estate professionals might want to keep an eye on these developments as they could influence property demands and values in unexpected... Read more
Student-to-teacher ratio in Mcpherson County, South Dakota over the last 10 years
McPherson County, South Dakota has shown notable fluctuations in its student-to-teacher ratio over the past decade. From 2014 to 2021, the ratio mostly remained below the national average of 14 students per teacher, peaking in 2020 at nearly 14 students per teacher. However, 2022 saw a dramatic spike to 78 students per teacher, suggesting a potential anomaly or significant shift. Investors, real estate agents, and builders might view this as a sign of changing demographics or resources, while educators and insurance agents may need to consider how such a disparity affects the quality and valuation of education and property in this region.
