Union County Real Estate and Livability Trends
Union County, South Dakota has seen notable growth in average taxable income, jumping from $112,841.95 in 2013 to $176,559.43 in 2021, reflecting a robust local economy which could attract investors and new residents. Median home values surged from $159,700 in 2015 to $254,900 in 2022, outpacing state and national trends. Meanwhile, real estate taxes nearly doubled from $5,323.86 in 2012 to... Read more
Union County Market Trends
Union County, South Dakota, experienced a surge in median home values, climbing from $159,700 in 2015 to $254,900 in 2022, surpassing both state and national trends. Analyzing residential energy tax credits reveals a peak in 2016 at $1,825.00 per tax return, but a drop to $470.00 by 2021, potentially reflecting changing policies or incentive programs. There's been a stark rise in average real... Read more
Median Value of Occupied Housing Units in Union County, South Dakota Over the Last 8 Years
Union County, South Dakota, illustrated a sharp increase in median home values over the last eight years, jumping from $159,700 in 2015 to $254,900 in 2022. This outpaces the broader trends seen in South Dakota, which rose from $140,500 to $219,500 in the same period, and the national increase from $125,500 to $179,400. Such substantial growth might indicate a strong local housing demand, making it an interesting prospect for investors and those looking to relocate.
Residential Energy Tax Credit Per Tax Return in Union County, SD Over the Last 8 Years
Union County, South Dakota, has seen notable fluctuations in residential energy tax credits over the past eight years. Peaks occurred in 2016 with an average of $1,825.00 per tax return, likely indicating a surge in energy-efficient home upgrades during that time. However, the credits experienced a decline, dropping to $722.22 in 2019 and further to $470.00 by 2021. These trends may suggest changing incentive programs, variations in energy efficiency improvements, or shifts in policy, providing useful insight for potential investors, real estate agents, and residents focused on sustainable living initiatives.
Average Real Estate Taxes Per Tax Return in Union County, SD Over the Last 10 Years
Union County, South Dakota has seen a notable upward trajectory in average real estate taxes per tax return over the last decade, jumping from approximately $5,323.86 in 2012 to around $10,982.81 in 2021. The substantial rise, particularly sharp from 2016 onwards, suggests increasing property values and possibly higher county levies. For investors, developers, and real estate agents, this trend may indicate a robust and appreciating market, reflecting higher costs but also potentially greater returns. Insurance agents and appraisers might view this as a sign of increased valuation needs and risk assessments, driven by the area's economic growth or enhanced public services.
Percentage of Farm Returns in Union County, SD Over the Last 10 Years
Farm tax returns in Union County, South Dakota, have shown a slight overall decline over the past decade, dipping from 5.78% in 2012 to 4.65% in 2021. While there were minor fluctuations throughout the years, the general trend indicates a gradual decrease. This trend might be relevant for potential investors and residents as it could imply shifts in the local agricultural economy, potentially affecting land use, property values, and county revenues. Farm tax returns typically reflect the number of farms submitting tax filings, which can offer insights into the health and changes within the farming community.
Number of Mortgages by Occupancy Type in Union County, SD Over the Last 5 Years in Union County
Union County, South Dakota has seen varying mortgage counts over the past five years, with principal residences consistently leading in numbers. Interestingly, there was a notable spike in principal residence mortgages in 2020, with more than double the numbers compared to most other years, potentially reflecting a period of high real estate activity. Investment property mortgages remained relatively steady but showed a significant dip in 2022. These shifts in occupancy type are crucial as they can influence market dynamics, pricing strategies, and investment decisions for real estate professionals. Insurance agents and appraisers might also find these trends important for assessing risk and value accurately.
Economic Outlook
Union County, South Dakota, has seen impressive growth in average taxable income per tax return, rising from $112,841.95 in 2013 to $176,559.43 in 2021. This upward trend suggests a strengthening local economy and elevated earnings potential, possibly drawing interest from investors and new residents. The county has also experienced volatility in state and local income taxes, spiking sharply to $55,670.00 in 2019 but stabilizing to $20,259.38 by 2021, indicating economic fluctuations or policy... Read more
Average Taxable Income per Tax Return in Union County, SD over the last 9 years
Union County, South Dakota, has seen a notable rise in average taxable income per tax return over the past nine years. From $112,841.95 in 2013 to $176,559.43 in 2021, the county has experienced significant growth, particularly between 2017 and 2021. This upward trend, peaking in 2020 with an average income of $170,430.76, may point to a burgeoning local economy and increased earning potential for residents. Such financial uplift could attract investors, real estate enthusiasts, and new residents considering the area for their next venture.
Average State and Local Income Taxes Per Tax Return in Union County, SD Over the Last 10 Years
Union County, South Dakota has shown considerable fluctuations in state and local income taxes per tax return over the past decade. Notably, there was a sharp rise in 2019, with the average reaching an exceptional $55,670.00, significantly higher than previous years. This spike contrasts sharply with earlier averages, which generally stayed within the $10,800.88 to $18,775.63 range. The numbers also saw another marked increase in 2020, followed by a decrease to $20,259.38 in 2021. Such volatility may indicate economic shifts or changes in tax policies, providing a nuanced landscape for potential investors and financial professionals.
Average Total Tax Liability Per Tax Return in Union County, SD Over the Last 10 Years
Over the last decade, average total tax liability per tax return in Union County, South Dakota has seen a general upward trend, starting at $28,341.67 in 2012 and peaking at $41,741.29 in 2020. This steady increase implies a growing affluence or rising incomes which could be appealing to investors, appraisers, and real estate agents looking for promising opportunities in the area. For those considering moving to or building property in Union County, the upward trend in tax liability per return might indicate a robust local economy with potentially higher property values. Insurance agents might consider this data when assessing risk profiles for clients in the region.
Cost of Living in Union County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,261 | $1,456 | $2,460 | $1,215 | $1,074 |
| 1 adult 4 children | $1,261 | $1,189 | $1,894 | $1,215 | $1,178 |
| 2 adults 3 children | $1,261 | $1,189 | $2,128 | $1,215 | $866 |
| 1 adult 3 children | $1,261 | $971 | $1,562 | $1,215 | $931 |
| 2 adults 2 children | $1,028 | $974 | $1,796 | $1,069 | $744 |
| 1 adult 2 children | $1,028 | $727 | $1,230 | $1,069 | $701 |
| 2 adults 1 child | $1,028 | $769 | $1,464 | $594 | $718 |
| 1 adult 1 child | $1,028 | $497 | $898 | $594 | $576 |
| 2 adults | $781 | $618 | $1,132 | $0 | $589 |
| 1 adult | $687 | $337 | $566 | $0 | $479 |
Safety trends & Data
Property crime trends in Union County, South Dakota reveal notable fluctuations over the past five years. Fraud incidents spiked at 13.0 in 2018 but fell to just 1.0 by 2021, possibly indicating economic improvement or better enforcement. Burglary incidents peaked at 5.0 in 2019 but stayed generally low, which might reassure property investors. Motor vehicle thefts slightly increased to 4.0 in 2022, while vandalism showed minor variations. These crime trends suggest that the area could offer a... Read more
Property Crime Trends in Union County, SD Over the Last 5 Years
Property crime trends in Union County, South Dakota reveal fluctuating frequencies across various types of crimes over the past five years. Notably, fraud incidents spiked in 2018 at 13.0 but dwindled to just 1.0 by 2021, suggesting improved economic conditions or enforcement. Burglary incidents peaked in 2019 at 5.0, yet generally remained low, offering some reassurance for property investors. While motor vehicle thefts saw a modest increase in 2022 reaching 4.0, vandalism remained relatively consistent, with minor variations. Observing these shifts could be significant for prospective homeowners and real estate agents, indicating a potentially stable environment with targeted areas for improvement.
Demographics
Union County, South Dakota showcases a nearly balanced gender distribution among its adult population. Education levels reveal a leaning towards high school graduates and bachelor's degree holders. The age demographic skews toward individuals aged 35 to 64, indicating a mature population. Racially, the county is predominantly White, with minor representation from other ethnicities. This demographic insight helps understand the socio-economic landscape and can inform policy and development... Read more
Race Distribution in Union County, South Dakota (2022)
Educational Attainment in Union County, South Dakota (2022)
Age Distribution in Union County, South Dakota
Citizen Population in Union County, South Dakota (2022)
Political Trends & Data
In Union County, South Dakota, real estate trends could potentially be influenced by its political landscape, where Republican candidates saw about 67% of the vote in the 2020 U.S. Presidential Election. Democrats secured just over 30%, and Libertarians had slightly more than 2%. No significant data was recorded for the Green Party or other minor parties. This political distribution might shed light on the area's conservative leanings, potentially impacting property values and development... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Union County, South Dakota, the 2020 U.S. Presidential Election seemed to significantly favor Republican candidates, capturing around 67% of the vote. Democrats attracted slightly over 30%, while Libertarian candidates trailed with just above 2%. No votes were recorded for the Green Party, and there's a noticeable absence of data for other minor parties. This trend might reflect the county's leanings or preferences during that election.
67.13% of voters voted for the Republican party in the 2020 Presidential Election
30.77% of voters voted for the Democrat party in the 2020 Presidential Election
2.10% of voters voted for the Livertarian party in the 2020 Presidential Election
School Data
Union County, South Dakota has shown a student-to-teacher ratio that aligns closely with the national average of 14 students per teacher over the past decade, though there have been modest fluctuations. The ratio peaked at 16 students per teacher in 2019, suggesting slightly more crowded classrooms, while 2022 saw a dip to nearly 14 students per teacher, indicating more personalized attention for students. This trend of smaller class sizes could enhance property values and appeal to families,... Read more
Student-to-teacher ratio in Union County, South Dakota over the last 10 years
Over the past decade in Union County, South Dakota, the student-to-teacher ratio has generally hovered around the national average of 14 students per teacher but has seen some modest fluctuations. Notably, the ratio peaked at approximately 16 students per teacher in 2019, which might suggest classrooms were somewhat more crowded that year. Conversely, 2022 saw a dip to nearly 14 students per teacher, indicating more individual attention for students. These shifts can significantly impact the local education quality, affecting both property values and the desirability of the area for families considering relocation. For investors and real estate agents, the trend of smaller class sizes in recent years could be a positive selling point. Similarly, appraisers and insurance agents might consider these educational metrics as part of their overall property assessments.
