Spink County Real Estate and Livability Trends
Spink County, South Dakota has seen a sharp rise in home values from $74,200 in 2015 to $108,200 in 2022, presenting a compelling investment opportunity given the area's affordability compared to state and national medians. Real estate taxes peaked at $2,883.33 in 2019, which could impact long-term property affordability. Mortgage activity spiked in 2020 and 2021, reflecting possible growth in... Read more
Spink County Market Trends
Home values in Spink County, South Dakota have climbed from $74,200 in 2015 to $108,200 in 2022, presenting a potential investment opportunity due to the area's affordability relative to state and national medians. Real estate taxes have fluctuated over the past decade, peaking at $2,883.33 in 2019, which could influence long-term property cost considerations. Farm returns remain stable, hovering... Read more
Median Value of Occupied Housing Units in Spink County, South Dakota Over the Last 8 Years
Home values in Spink County, South Dakota have seen a gradual rise over the past eight years, starting at $74,200 in 2015 and reaching $108,200 in 2022. This consistent increase may offer an attractive opportunity for potential investors or those looking to move to the area, as the county's property values are rising but still remain significantly lower than both state and national medians. By comparison, South Dakota's median home value grew from $140,500 in 2015 to $219,500 in 2022, while the national median increased from $125,500 to $179,400 during the same period. This could suggest that Spink County offers more affordable housing options amidst a broader trend of rising home values.
Residential Energy Tax Credit Per Tax Return in Spink County, SD Over the Last 4 Years
Over the last four years in Spink County, South Dakota, the average residential energy tax credit per tax return has shown considerable fluctuations. In 2013, it was approximately $457.14, increasing slightly in 2014 to about $466.67. The most significant rise happened in 2015, where the average credit jumped to $575.00, indicating an uptick in energy-efficient investments that year. However, by 2016, the average credit dropped sharply to $233.33. These variances suggest potentially shifting policies, economic conditions, or changes in household prioritization towards energy efficiency upgrades, relevant to investors, real estate agents, and policy analysts monitoring the region's residential energy market.
Average Real Estate Taxes Per Tax Return in Spink County, SD Over the Last 10 Years
Over the last decade, average real estate taxes per tax return in Spink County, South Dakota have fluctuated, starting at $1,836.36 in 2012 and peaking at $2,883.33 in 2019. Notably, there appears to be significant jumps in certain years, such as from 2016 to 2017, where the average climbed from $2,338.10 to $2,782.61. This variability could potentially impact decision-making for investors and homeowners considering the long-term costs associated with property ownership in the area. With such trends in mind, property taxes in Spink County seem neither consistently rising nor falling, indicating volatility that stakeholders should take into account when appraising, insuring, or investing in real estate here.
Percentage of Farm Returns in Spink County, SD Over the Last 10 Years
The percentage of farm returns in Spink County, South Dakota, has hovered around 20% for the last decade, showing a mild fluctuation with a peak of 21.13% in 2018 and a low of 19.00% in 2019. Farm tax returns reflect the economic activity and viability of agricultural operations in the region, indicating that agriculture is a significant part of the local economy. For those looking to invest in, move to, or build property in Spink County, understanding these trends could offer insights into the stability and growth potential within the agricultural sector.
Number of Mortgages by Occupancy Type in Spink County, SD Over the Last 5 Years in Spink County
Spink County, South Dakota, has seen a fluctuating trend in mortgage counts over the past five years with principal residences seeing the highest number of mortgages, followed by investment properties and second residences trailing behind. The spike in mortgages for principal residences in 2020 and 2021 indicates potential growth in local residential demand or favorable economic conditions for homebuyers. Investment property mortgages remained relatively steady, suggesting limited but consistent interest in this sector. This trend matters because changes in the type of occupancy for mortgages can signal shifting demographics, economic conditions, and housing preferences, which are crucial for investors, developers, and real estate agents looking to capitalize on market opportunities. Appraisers and insurance agents can also use this data to better understand the risk and value associated with various property types in Spink County.
Economic Outlook
Spink County, South Dakota, has experienced notable fluctuations in average taxable income per tax return over the past nine years. It peaked around $61,732.25 in 2013, then generally declined until 2017, bottoming out at approximately $56,574.75. Interestingly, 2021 saw a significant increase, reaching $76,855.56, suggesting a complex economic landscape. Similarly, the average total tax liability per tax return has varied, peaking at $11,207.79 in 2013 and hitting a low of $9,256.42 in 2018,... Read more
Average Taxable Income per Tax Return in Spink County, SD over the last 9 years
Spink County, South Dakota, has seen some notable fluctuations in average taxable income per tax return over the last nine years. After a peak at around $61,732.25 in 2013, there was a general decline up to 2017, bottoming out at approximately $56,574.75. Interestingly, 2020 and 2021 showed significant increases, with 2021 reaching an impressive $76,855.56. This variability could be relevant for prospective investors, real estate agents, and insurance agents who may want to consider the economic volatility of the county when making decisions.
Average Total Tax Liability Per Tax Return in Spink County, SD Over the Last 10 Years
Over the last decade, Spink County, South Dakota, has seen some variability in the average total tax liability per tax return. After peaking at $11,207.79 in 2013, there was a downward trend from 2016 to 2019, hitting a low of $9,256.42 in 2018. However, there was a notable increase in 2020 and a significant jump to $12,384.52 in 2021, which could indicate recovery or changes in the local economic conditions. This pattern may be worth investigating for those considering economic opportunities in the area, especially for investors, appraisers, and real estate agents who need a nuanced understanding of local tax dynamics.
Cost of Living in Spink County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,005 | $1,472 | $2,458 | $1,019 | $976 |
| 1 adult 4 children | $1,005 | $1,202 | $1,884 | $1,019 | $1,056 |
| 2 adults 3 children | $1,005 | $1,202 | $2,130 | $1,019 | $771 |
| 1 adult 3 children | $1,005 | $982 | $1,557 | $1,019 | $807 |
| 2 adults 2 children | $826 | $984 | $1,803 | $883 | $687 |
| 1 adult 2 children | $826 | $735 | $1,229 | $883 | $621 |
| 2 adults 1 child | $826 | $778 | $1,475 | $442 | $666 |
| 1 adult 1 child | $826 | $502 | $901 | $442 | $519 |
| 2 adults | $641 | $625 | $1,148 | $0 | $582 |
| 1 adult | $575 | $341 | $574 | $0 | $472 |
Safety trends & Data
Spink County, South Dakota, has experienced fluctuating property crime rates over the last four years. Notably, larceny-theft incidents increased to 7.00 in 2022 after a stable period, while vandalism peaked with 5.00 occurrences last year. Motor vehicle theft remains consistently present, albeit at low levels. Other property crimes like burglary and fraud show no clear trend. These patterns provide essential insights into the area's evolving safety landscape, impacting potential investors,... Read more
Property Crime Trends in Spink County, SD Over the Last 4 Years
Spink County, South Dakota, has seen a fluctuating pattern in property crimes over the last four years. Larceny-theft has notably increased to 7.0 incidents in 2022 after a relatively stable rate in the previous years. Vandalism incidents peaked in 2022 with 5.0 occurrences, compared to lower numbers in prior years. There's a consistent presence of motor vehicle theft each year, though at relatively lower levels. Other property crimes like burglary and fraud have varied without a clear upward or downward trend. These insights are crucial for potential investors, residents, real estate agents, appraisers, and insurance agents as they reflect the evolving safety landscape of the area.
Demographics
Spink County, South Dakota exhibits a near equal gender distribution with males and females making up almost equal parts of the adult population. Educational attainment varies widely, but a significant proportion of residents hold only a high school diploma, with less than 10% having a graduate or professional degree. The population skews towards older age groups, especially those aged 55 to 74. Racially, the county is predominantly White, with very minor representation from other racial... Read more
Race Distribution in Spink County, South Dakota (2022)
Educational Attainment in Spink County, South Dakota (2022)
Age Distribution in Spink County, South Dakota
Citizen Population in Spink County, South Dakota (2022)
Political Trends & Data
In Spink County, South Dakota, the 2020 U.S. Presidential Election results revealed a notable Republican dominance with around 67% of the vote, while the Democratic share was about 32%. Libertarians secured under 2%, indicating minimal influence, and the Green Party showed no activity. This suggests a strong Republican foothold in the region, affecting local political dynamics and potentially influencing policy decisions and community... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Spink County, South Dakota, the 2020 U.S. Presidential Election saw a significant leaning toward the Republican Party, capturing around 67% of the vote. The Democratic Party lagged with approximately 32%, while Libertarians garnered just under 2%. The Green Party did not register any votes, and no 'Other' categories were noted. This suggests a strong Republican presence in the county, with limited competition from other parties.
66.52% of voters voted for the Republican party in the 2020 Presidential Election
31.55% of voters voted for the Democrat party in the 2020 Presidential Election
1.93% of voters voted for the Livertarian party in the 2020 Presidential Election
School Data
Over the past decade, Spink County, South Dakota has seen its student-to-teacher ratio fluctuate between 10 to 14 students per teacher, peaking in 2022. Despite this peak, the county generally maintains a lower ratio compared to the national average of 14, potentially offering more individualized attention for students. This could appeal to families and investors, potentially adding a premium to property values and influencing appraisals and marketing strategies. New insurance assessments might... Read more
Student-to-teacher ratio in Spink County, South Dakota over the last 10 years
Over the past decade, Spink County, South Dakota has experienced fluctuations in its student-to-teacher ratio, with numbers ranging from around 10 students per teacher to a peak of 14 in 2022. The fluctuations create a dynamic environment for educators and students alike, potentially influencing educational effectiveness and the quality of student engagement. Compared to the national average of 14 students per teacher, Spink County has generally maintained a lower ratio, with the exception of 2022. This makes it an attractive consideration for families prioritizing more individualized attention and investors looking to support thriving educational communities. Properties here may draw a premium due to the appealing educational statistics, influencing real estate agents and appraisors in their valuation and marketing efforts. Insurance agents need to consider these trends as part of their risk assessments tied to educational support infrastructure.
