Hemphill County Real Estate and Livability Trends
Hemphill County, Texas, has seen notable variability in its average taxable income, peaking at $117,960.73 in 2014 and later adjusting to $82,670.39 in 2021. Real estate taxes have nearly doubled over the decade, reaching $6,850.00 in 2021, while median home values have risen significantly from $123,400 in 2015 to $200,600 in 2022. The student-to-teacher ratio has improved, dropping to around ten... Read more
Hemphill County Market Trends
Hemphill County, Texas, has seen a steady climb in median home values from $123,400 in 2015 to $200,600 in 2022, offering a subtler rise compared to the broader Texas and national markets. Real estate taxes have nearly doubled over the decade, hitting $6,850.00 in 2021, with the sharpest increase between 2017 and 2018. Farm tax returns have shown a slight upward trend, peaking at 15.3% in 2017,... Read more
Median Value of Occupied Housing Units in Hemphill County, Texas Over the Last 8 Years
Hemphill County, Texas, has experienced a relatively steady increase in median home values over the past eight years, starting at $123,400 in 2015 and rising to $200,600 in 2022. Compared to Texas as a whole, which surged from $136,000 to $238,000 in the same period, Hemphill County's growth appears more moderate. When stacked against the national median value trend, which went from $125,500 to $179,400, Hemphill County’s housing value increases seem both gradual and consistent. This more measured rise could indicate a balanced market, possibly appealing to those looking for steady appreciation in value without the rapid spikes seen in broader state averages.
Average Real Estate Taxes Per Tax Return in Hemphill County, TX Over the Last 10 Years
Over the past decade, Hemphill County, Texas, has seen average real estate taxes per tax return nearly double, climbing from $3,452.00 in 2012 to $6,850.00 in 2021. The steepest rise took place between 2017 and 2018, jumping from $3,940.74 to $5,890.91. This trend may reflect increasing property values or changes in local tax policies, suggesting that potential investors and homeowners need to consider these escalating costs. Real estate agents and appraisers might want to highlight this trajectory when advising clients, while insurance agents could use these figures for better risk assessment.
Percentage of Farm Returns in Hemphill County, TX Over the Last 10 Years
Farm tax returns in Hemphill County, Texas have hovered between roughly 12.1% and 15.3% over the last decade, showcasing modest fluctuations and an overall slight upward trend. The percentage of farm returns saw a low of 12.1% in 2013, gradually rising to a peak of approximately 15.3% in 2017. Observing farm returns is crucial for investors or potential residents because it can indicate the vitality of the local agricultural economy. A consistent level of farm returns can signify stability and potential opportunities for agricultural investment or development in the county.
Number of Mortgages by Occupancy Type in Hemphill County, TX Over the Last 5 Years in Hemphill County
Over the last five years in Hemphill County, Texas, the number of mortgages for principal residences has consistently outpaced other occupancy types, peaking in 2020 with 106 mortgages. Investment properties saw a moderate interest with a slight variation yearly, while second residences have had minimal activity. Shifts in occupancy types suggest demand trends that can influence property values, insurance premiums, and lending risk assessments. For investors and developers, the strong focus on principal residences might indicate a stable, owner-occupied market with less volatility compared to one dominated by investment properties. This dynamic can provide valuable insights into the local housing market's health and future directions.
Economic Outlook
In Hemphill County, Texas, average taxable income has seen significant variability, peaking at $117,960.73 in 2014 before dropping to $66,306.67 by 2016 and then rising to $82,670.39 in 2021. State and local income taxes have notably decreased from $10,800.00 in 2012 to $3,000.00 by 2017, which may reflect economic or legislative shifts. Additionally, average total tax liability experienced sharp contrasts, peaking at $32,928.67 in 2014 and dipping to $13,594.74 in 2020 before a slight rebound... Read more
Average Taxable Income per Tax Return in Hemphill County, TX over the last 9 years
Hemphill County, Texas has seen considerable fluctuations in average taxable income per tax return over the past nine years. Income peaked in 2014 at $117,960.73, then saw a significant drop by 2016 to $66,306.67. More recent figures indicate an upward trend, with the average taxable income reaching $82,670.39 in 2021. This variability can be a critical consideration for investors, real estate agents, and potential residents assessing economic stability and opportunities in the area.
Average State and Local Income Taxes Per Tax Return in Hemphill County, TX Over the Last 5 Years
Average state and local income taxes per tax return in Hemphill County, Texas have seen a notable downward trend over the past five years. Starting at $10,800.00 in 2012, there's been a decline to $3,000.00 by 2017. This significant drop might be indicative of various economic or legislative changes within the county. Such information could be vital for potential investors, homeowners, and real estate agents considering the area's evolving financial landscape.
Average Total Tax Liability Per Tax Return in Hemphill County, TX Over the Last 10 Years
Hemphill County, Texas, has shown significant fluctuations in average total tax liability per tax return over the past decade. High peaks like $32,928.67 in 2014 contrast sharply with lows such as $13,594.74 in 2020, reflecting economic volatility. Despite some increases, tax liabilities predominantly trended downward after 2014, with a minor rebound observed in 2021 to $15,030.08. For prospective investors, developers, or real estate agents, such trends may suggest sporadic economic conditions but also potential opportunities for favorable tax positions.
Cost of Living in Hemphill County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,296 | $1,375 | $1,948 | $1,242 | $949 |
| 1 adult 4 children | $1,296 | $1,123 | $1,491 | $1,242 | $1,069 |
| 2 adults 3 children | $1,296 | $1,124 | $1,689 | $1,242 | $771 |
| 1 adult 3 children | $1,296 | $917 | $1,232 | $1,242 | $853 |
| 2 adults 2 children | $1,065 | $920 | $1,431 | $1,084 | $688 |
| 1 adult 2 children | $1,065 | $687 | $974 | $1,084 | $663 |
| 2 adults 1 child | $1,065 | $727 | $1,173 | $572 | $673 |
| 1 adult 1 child | $1,065 | $470 | $715 | $572 | $571 |
| 2 adults | $809 | $584 | $914 | $0 | $576 |
| 1 adult | $803 | $319 | $457 | $0 | $500 |
Demographics
Hemphill County, Texas, shows a slightly higher male population compared to the female population, which might indicate specific sociocultural dynamics influencing gender ratios. Educational attainment trends suggest a significant portion of residents have completed high school or some college, yet fewer have advanced degrees, potentially impacting local professional opportunities and economic growth. The age distribution highlights a balanced mix across different age groups, but the noticeable... Read more
Race Distribution in Hemphill County, Texas (2022)
Educational Attainment in Hemphill County, Texas (2022)
Age Distribution in Hemphill County, Texas
Citizen Population in Hemphill County, Texas (2022)
Political Trends & Data
Hemphill County in Texas shows a strong Republican preference, with about 86% of votes cast for the GOP in the 2020 Presidential Election. Democrats garnered roughly 12%, while third-party candidates had minimal influence, capturing just over 1.5% combined. This heavy leaning toward Republican candidates indicates that the county's political landscape is firmly entrenched, which could impact local policies and, consequently, real estate market... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Hemphill County in Texas may lean heavily Republican, with nearly 86% of the votes going to the GOP in the 2020 Presidential Election. Democrats appear to have secured around 12%, while Libertarians and Green Party candidates combined for just over 1.5%. This suggests that third-party options have minimal impact in this strong Republican bastion.
86.40% of voters voted for the Republican party in the 2020 Presidential Election
11.98% of voters voted for the Democrat party in the 2020 Presidential Election
1.45% of voters voted for the Livertarian party in the 2020 Presidential Election
0.17% of voters voted for the Green party in the 2020 Presidential Election
School Data
In Hemphill County, Texas, the student-to-teacher ratio has steadily decreased from approximately twelve students per teacher in 2014 to around ten in 2023, consistently staying below the national average of 14. This trend could enhance the appeal for families seeking more personalized educational attention, potentially driving real estate interest. Real estate agents and education-focused investors could view this as a strong selling point, as smaller class sizes often correlate with higher... Read more
Student-to-teacher ratio in Hemphill County, Texas over the last 10 years
Over the last decade, Hemphill County, Texas has consistently maintained a student-to-teacher ratio below the national average of 14. Ratios have steadily decreased from around twelve students per teacher in 2014 to approximately ten in 2023. This lower ratio indicates smaller class sizes, which could appeal to families considering relocation, potentially offering more personalized attention for students. Real estate agents and education-focused investors might view this trend as an attractive selling point. Lower ratios are also relevant for appraisers and insurance agents as they might correlate with higher property values and lower risk, adding an extra layer of desirability to the region.
