Pennington County Real Estate and Livability Trends
Pennington County, South Dakota has experienced a notable rise in average taxable income, jumping from $71,510.19 in 2020 to $90,064.33 in 2021, alongside increasing real estate taxes which climbed from $3,791.22 in 2012 to $6,452.05 in 2021. Median home values peaked at $247,800 in 2022, outpacing state and national figures, indicating a robust local market. Crime trends have shown wide... Read more
Pennington County Market Trends
Pennington County, South Dakota has experienced a steady rise in median home values over the past eight years, peaking at $247,800 in 2022, outpacing both state and national figures. This trend suggests a robust local market with stable demand. Residential energy tax credits have fluctuated significantly, peaking at $1961.54 in 2018, indicating increased investment in energy-efficient... Read more
Median Value of Occupied Housing Units in Pennington County, South Dakota Over the Last 8 Years
Over the past 8 years, Pennington County, South Dakota, has seen a steady rise in median home values, peaking at $247,800 in 2022. This increase is more pronounced compared to the state of South Dakota, which reached $219,500, and the national figure of $179,400 in the same year. This trend suggests a robust local real estate market that might be attractive for investors and homebuyers. The consistent growth in home values indicates a stable demand, potentially driven by economic factors specific to Pennington County.
Residential Energy Tax Credit Per Tax Return in Pennington County, SD Over the Last 9 Years
Pennington County, South Dakota, has seen a significant fluctuation in residential energy tax credits over the past nine years. Credits jumped notably in 2017 to $677.78, nearly doubling from 2016's $551.95, and then saw a dramatic spike in 2018 to $1961.54. This rise, however, was followed by a downward trend, yet remained notably higher than earlier years, with $1124.19 in 2021. This trend could indicate heightened awareness and adoption of energy-efficient improvements, making the area potentially attractive for green investors and eco-conscious homebuyers. For appraisers and real estate agents, these details might imply a growing market impact related to energy-efficient properties and potential increases in property values.
Average Real Estate Taxes Per Tax Return in Pennington County, SD Over the Last 10 Years
In Pennington County, South Dakota, real estate taxes per tax return have seen a steady increase over the past decade. Back in 2012, the average tax per return was around $3,791.22. By 2021, this figure had risen to approximately $6,452.05. This trend suggests a growing financial commitment for property owners and could impact everything from property investments and home purchases to insurance premiums and real estate evaluations. Such data might be interesting to potential investors, insurance agents, appraisers, and anyone considering relocating or building in the area.
Percentage of Farm Returns in Pennington County, SD Over the Last 10 Years
The percentage of farm tax returns in Pennington County, South Dakota has slightly fluctuated over the last decade, ranging from around 1.70% in 2012 to approximately 1.46% in 2021. Farm tax returns, which represent the proportion of tax filings from agricultural operations, can be an indicator of the presence and economic activity of farming in the area. This might suggest a steady but slightly declining agricultural sector, valuable insight for potential investors, property developers, and those with an interest in rural economic trends.
Number of Mortgages by Occupancy Type in Pennington County, SD Over the Last 5 Years in Pennington County
Pennington County, South Dakota has seen fluctuating trends in mortgage counts over the last five years, with principal residence mortgages peaking in 2020 at 8,493 before dropping to 4,633 by 2022. Investment property mortgages generally declined from a high of 560 in 2021 to 407 in 2022. Second residence mortgages have remained relatively low and steady, peaking at 217 in 2021. Changes in occupancy type matter to investors, real estate agents, and appraisers as shifts in primary vs. investment properties can reflect broader economic trends, potential rental market strength, and area desirability, impacting decisions on property valuation, insurance, and long-term investment strategies.
Economic Outlook
Pennington County, South Dakota has seen a significant rise in average taxable income per tax return, jumping from $71,510.19 in 2020 to $90,064.33 in 2021. This, combined with a general increase in state and local income taxes, suggests a potentially flourishing economic landscape. However, there have also been notable fluctuations in poverty rates and total tax liabilities, with the latter peaking at $16,062.75 in 2021. These dynamics could influence property values and investment... Read more
Average Taxable Income per Tax Return in Pennington County, SD over the last 9 years
Pennington County, South Dakota has seen a steady increase in average taxable income per tax return over the last nine years, with a notable spike from $71,510.19 in 2020 to $90,064.33 in 2021. This upward trend suggests a growing economic vitality that could be appealing to investors, potential residents, and real estate developers. Rising incomes may also influence property values and insurance premiums, indicating a gradually strengthening financial landscape in the area.
Average State and Local Income Taxes Per Tax Return in Pennington County, SD Over the Last 10 Years
Over the past decade, Pennington County, South Dakota has seen significant fluctuations in average state and local income taxes per tax return, with a general uptick in recent years. From a low of $6,305.26 in 2013, these averages have shot up, reaching as high as $12,810.87 in 2019. Although there's been some variability, the trend suggests a rise in tax burdens, peaking particularly in the last five years. This evolving tax landscape may influence financial decisions for prospective investors, property developers, and new residents, making Pennington County a dynamic area for economic and real estate considerations.
Average Total Tax Liability Per Tax Return in Pennington County, SD Over the Last 10 Years
Pennington County, South Dakota has seen notable fluctuations in the average total tax liability per tax return over the past decade. While there was a dip to $9,914.50 in 2013, the liability peaked significantly at $16,062.75 in 2021. This dramatic rise could interest those looking to invest in research or analyze the local economic trends. For real estate agents, insurance agents, or individuals considering relocating to the area, these trends might highlight underlying economic shifts or the effects of broader financial policies impacting the county.
Cost of Living in Pennington County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,374 | $1,568 | $2,760 | $1,227 | $1,215 |
| 1 adult 4 children | $1,374 | $1,281 | $2,126 | $1,227 | $1,297 |
| 2 adults 3 children | $1,374 | $1,281 | $2,387 | $1,227 | $970 |
| 1 adult 3 children | $1,374 | $1,046 | $1,753 | $1,227 | $1,032 |
| 2 adults 2 children | $995 | $1,049 | $2,014 | $1,077 | $770 |
| 1 adult 2 children | $995 | $783 | $1,380 | $1,077 | $710 |
| 2 adults 1 child | $995 | $829 | $1,642 | $590 | $730 |
| 1 adult 1 child | $995 | $535 | $1,007 | $590 | $572 |
| 2 adults | $756 | $666 | $1,269 | $0 | $598 |
| 1 adult | $665 | $363 | $634 | $0 | $475 |
Safety trends & Data
Pennington County, South Dakota, shows fluctuating property crime trends over the past five years. Larceny-theft incidents peaked at 416 in 2018 but dropped to 128 in 2021, slightly rebounding to 250 in 2022. Fraud incidents followed a high of 521 in 2018 but decreased to 332 by 2022. Burglary saw a notable spike from 42 incidents in 2018 to 69 in 2022, while vandalism remained relatively stable with minor fluctuations between 83 and 121 incidents annually. These crime trends suggest that... Read more
Property Crime Trends in Pennington County, SD Over the Last 5 Years
The data on property crime trends in Pennington County, South Dakota, reveals fluctuating incidences over the last five years. Larceny-theft consistently presents the highest numbers, peaking at 416 incidents in 2018 and dropping to 128 by 2021 but slightly rebounding to 250 in 2022. Fraud incidents saw a high of 521 in 2018 before gradually decreasing to 332 by 2022. Burglary has varied, with 42 incidents in 2018 and a noticeable spike to 69 in 2022, while vandalism has remained relatively stable, with minor fluctuations between 83 and 121 incidents annually. Duplexes, commercial buildings, and retail outlets might benefit from enhanced security measures given these trends, impacting insurance assessments and property values.
Demographics
Pennington County, South Dakota's demographic trends suggest a nearly balanced gender distribution, which may indicate a stable workforce and consumer base. Educational attainment features a large proportion of high school graduates, alongside a significant number holding bachelor's and graduate degrees. This points to a potentially well-educated population that might drive various economic and cultural activities. The age distribution leans slightly towards a middle-aged population, hinting at... Read more
Race Distribution in Pennington County, South Dakota (2022)
Educational Attainment in Pennington County, South Dakota (2022)
Age Distribution in Pennington County, South Dakota
Citizen Population in Pennington County, South Dakota (2022)
Political Trends & Data
Pennington County, South Dakota, leaned heavily Republican in the 2020 Presidential Election, with roughly 61% of the votes favoring the GOP. Democrats pulled around 36%, and the Libertarian Party captured over 3%. These numbers highlight a significant Republican stronghold, but the variety in party support suggests some political diversity among local... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Pennington County, South Dakota, exhibited a tendency towards Republican preferences in the 2020 U.S. Presidential Election, with approximately 61% of votes cast in favor of the Republican Party. The Democratic Party garnered around 36%, while the Libertarian Party received just over 3%. These figures suggest a strong Republican leaning in this county, though the presence of multiple parties indicates a diversity of political affiliations among the electorate.
60.96% of voters voted for the Republican party in the 2020 Presidential Election
35.83% of voters voted for the Democrat party in the 2020 Presidential Election
3.21% of voters voted for the Livertarian party in the 2020 Presidential Election
School Data
Pennington County, South Dakota has seen its student-to-teacher ratio fluctuate significantly over the past decade, peaking at 28 students per teacher in 2021. While it typically hovers just above the national average of 14 students per teacher, recent stabilization around 15 indicates a possible return to more manageable classroom sizes. These trends are crucial for property investors and families prioritizing education, as higher ratios might suggest challenges in educational quality or... Read more
Student-to-teacher ratio in Pennington County, South Dakota over the last 10 years
Over the past decade, Pennington County, South Dakota has showcased fluctuations in its student-to-teacher ratio, peaking significantly in 2021 with a ratio of 28 students per teacher, a stark departure from the year-to-year trends. Despite the spike, ratios have otherwise hovered around or just above the national average of 14 students per teacher, with recent years stabilizing around 15. These changes could impact property investment attractiveness, school funding evaluations, and real estate market decisions, particularly for families prioritizing education. Elevated ratios might signal challenges in educational quality or funding which could deter potential movers or affect property values.
