Milam County Real Estate and Livability Trends
Milam County, Texas, has experienced a surge in median home values, climbing from $80,600 in 2015 to $149,600 in 2022, which may indicate rising demand or limited supply. Even with median home values still under the Texas state and national averages, this increase suggests the area might be a growing hotspot for real estate investment. Coupled with declining property crime rates and improved... Read more
Milam County Market Trends
Milam County, Texas has seen its median home values soar from $80,600 in 2015 to $149,600 in 2022, pointing to increasing demand or limited supply. Though still lower than Texas' state median of $238,000 and the national median of $179,400 in 2022, this uptick highlights the county as a potential hotspot for real estate investment. Residential energy tax credits per tax return also saw... Read more
Median Value of Occupied Housing Units in Milam County, Texas Over the Last 8 Years
Milam County, Texas has experienced a substantial increase in median home values over the last eight years, jumping from $80,600 in 2015 to $149,600 in 2022, reflecting growing local demand or limited supply. While still below the Texas state median of $238,000 and the national median of $179,400 in 2022, the rate of increase in Milam County suggests it may be an emerging hotspot for real estate investment. This could imply opportunities for investors looking for markets with significant potential appreciation while still being relatively affordable compared to broader state and national figures.
Residential Energy Tax Credit Per Tax Return in Milam County, TX Over the Last 9 Years
Milam County, Texas has seen a substantial rise in the average residential energy tax credit per tax return over the past nine years, with peaks in 2017 and 2018 where values reached around $1085.71 and $3200.00, respectively. This upward trend suggests an increasing investment in energy-efficient improvements among homeowners. Such data could be insightful for investors, insurers, and real estate professionals as it may reflect a growing emphasis on sustainable living and potential for future market growth in eco-friendly home features. Average credits declining slightly post-2018 but remaining substantially higher than early years might indicate a stable but maturing market for residential energy efficiency in the region.
Average Real Estate Taxes Per Tax Return in Milam County, TX Over the Last 10 Years
Over the past decade, Milam County, Texas has seen real estate taxes per tax return almost double, increasing from approximately $2,989.57 in 2012 to around $5,762.50 in 2021. This steady upward trend suggests rising property values or tax rates, making it a key consideration for potential investors, homebuyers, and property developers. Real estate agents and appraisers may find the escalating taxes indicative of a developing market, while insurance agents should assess implications for coverage costs.
Percentage of Farm Returns in Milam County, TX Over the Last 10 Years
Over the last decade, the percentage of farm tax returns in Milam County, Texas, has fluctuated modestly, hovering largely in the 14.3% to 15.1% range. Farm tax returns generally refer to the fraction of income tax filings attributed to agricultural activities. This trend suggests some stability in the agricultural sector, which could be appealing for prospective investors and developers interested in rural property development or agribusiness ventures in the area. The slight dip in recent years might interest data-driven investors keeping an eye on the long-term sustainability of farming income in Milam County.
Number of Mortgages by Occupancy Type in Milam County, TX Over the Last 5 Years in Milam County
Over the last five years in Milam County, Texas, the number of mortgages for principal residences has consistently stayed higher compared to those for investment and second residences. While investment property mortgages have seen slight, steady increases, principal residences surged notably in 2020 and 2021 before experiencing a decrease in 2022. Second residence mortgages have remained relatively low with minor fluctuations. This shift in occupancy type suggests a strong attraction for permanent residents, impacting property values, market demand, and insurance risks. Those considering investment opportunities might find the growing interest in principal residences indicative of a stabilizing market, whereas the minimal activity in second residence mortgages may flag limited appeal for vacation or seasonal housing.
Economic Outlook
Milam County, Texas, has seen a notable rise in average taxable income per tax return from $52,507.81 in 2020 to $64,643.24 in 2021, hinting at potential economic growth and improved income levels. Fluctuating but generally lower state and local income taxes, dropping from $4,100.00 in 2013 to $3,080.00 in 2017, might make the area more appealing due to reduced financial obligations. Additionally, the increased average total tax liability, which climbed from $7,269.53 in 2012 to $10,508.54 by... Read more
Average Taxable Income per Tax Return in Milam County, TX over the last 9 years
Milam County, Texas has seen a general upward trend in average taxable income per tax return over the last nine years. Notably, there was a jump from $52,507.81 in 2020 to $64,643.24 in 2021, indicating potential economic growth or improved income levels in the area. This uptick could be attractive for real estate investors, appraisers, and insurance agents as it may signal an increase in property values and financial stability among residents. For potential residents, the rising incomes suggest a promising economic outlook.
Average State and Local Income Taxes Per Tax Return in Milam County, TX Over the Last 6 Years
Over the past six years, Milam County, Texas, has experienced fluctuating average state and local income taxes per tax return, with a notable decline from $4,100.00 in 2013 to $3,080.00 in 2017. This trend might indicate evolving economic conditions or tax policies affecting residents' financial obligations. Investors and those considering relocating to the area could find this decline in taxes appealing as it potentially lowers the overall cost of living. Professionals like appraisers, insurance agents, and real estate agents should pay attention to these changes as they might influence property valuations and market dynamics.
Average Total Tax Liability Per Tax Return in Milam County, TX Over the Last 10 Years
Over the past decade, Milam County, Texas, has seen a generally fluctuating but upward trend in the average total tax liability per tax return. From $7,269.53 in 2012, the average tax liability has notably spiked, reaching $10,508.54 by 2021. This increase in tax liability could potentially indicate rising property values, economic growth, or changes in tax policies, which might interest real estate agents, investors, and insurance agents monitoring regional economic shifts. Such changes may also influence decisions for those considering building property or moving to the area, given the possible implications on cost of living and fiscal planning.
Cost of Living in Milam County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,074 | $1,299 | $1,890 | $1,174 | $770 |
| 1 adult 4 children | $1,074 | $1,061 | $1,446 | $1,174 | $842 |
| 2 adults 3 children | $1,074 | $1,061 | $1,640 | $1,174 | $607 |
| 1 adult 3 children | $1,074 | $866 | $1,196 | $1,174 | $637 |
| 2 adults 2 children | $826 | $869 | $1,389 | $1,024 | $556 |
| 1 adult 2 children | $826 | $649 | $945 | $1,024 | $478 |
| 2 adults 1 child | $826 | $687 | $1,138 | $539 | $539 |
| 1 adult 1 child | $826 | $443 | $695 | $539 | $442 |
| 2 adults | $631 | $552 | $888 | $0 | $474 |
| 1 adult | $623 | $301 | $444 | $0 | $419 |
Safety trends & Data
Milam County, Texas has potentially become a safer environment for residents and investments with significant reductions in property crime over the past five years. Burglary incidents decreased from 35 in 2018 to 11 in 2022, and larceny-theft dropped from 57 to 21 in the same period. Motor vehicle theft incidents fell from 12 to 4, and vandalism reports reduced from 22 to just 5. Enhanced security measures, community vigilance, or effective law enforcement strategies could be contributing to... Read more
Property Crime Trends in Milam County, TX Over the Last 5 Years
Over the past five years, Milam County, Texas has seen noteworthy reductions in property crime, particularly in burglary and larceny-theft rates. Burglary incidents decreased from 35 in 2018 to 11 in 2022, while larceny-theft dropped significantly from 57 in 2018 to 21 in 2022. Motor vehicle theft has also seen a decline, with 12 incidents in 2018 falling to 4 in 2022. Vandalism reports similarly reduced from 22 in 2018 to just 5 in 2022. These trends may indicate enhanced security measures, community vigilance, or effective law enforcement strategies, making it a potentially safer environment for residents and investments alike.
Demographics
In Milam County, Texas, the adult population shows a fairly balanced gender distribution, with females slightly outnumbering males. The age demographic indicates a higher concentration in the middle-aged and senior categories, suggesting perhaps a stable or aging population. Analyzing educational attainment reveals that high school graduates form the largest group, with lesser participation in higher education levels, which might suggest opportunities for educational initiatives. The racial... Read more
Race Distribution in Milam County, Texas (2022)
Educational Attainment in Milam County, Texas (2022)
Age Distribution in Milam County, Texas
Citizen Population in Milam County, Texas (2022)
Political Trends & Data
Milam County, Texas, showed a strong preference for the Republican Party in the 2020 U.S. Presidential Election, with around 75% of the votes cast in favor of GOP candidates. Democrats only garnered about 24% of the votes, indicating a predominantly conservative electorate. This leaning could impact local policies and real estate trends, possibly making the area more attractive to like-minded buyers and... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Milam County, Texas, seemed to have leaned heavily Republican in the 2020 U.S. Presidential Election, with approximately 75% of the vote going to the GOP. The Democratic Party attracted around 24%, while Libertarian, Green, and other candidates received minimal support. This voting pattern might suggest a strong conservative base within the county.
75.48% of voters voted for the Republican party in the 2020 Presidential Election
23.60% of voters voted for the Democrat party in the 2020 Presidential Election
0.68% of voters voted for the Livertarian party in the 2020 Presidential Election
0.23% of voters voted for the Green party in the 2020 Presidential Election
0.02% of voters voted for the Other party in the 2020 Presidential Election
School Data
Milam County, Texas, boasts a student-to-teacher ratio consistently below the national average, ranging from 11.55 to 12.87 over the last decade. This suggests more personalized attention for students, a factor that could appeal to families considering relocation. For real estate agents and investors, this lower ratio offers an attractive selling point when marketing homes near local schools. Additionally, the emphasis on quality education might positively influence property appraisals and... Read more
Student-to-teacher ratio in Milam County, Texas over the last 10 years
Milam County, Texas, has consistently had a student-to-teacher ratio below the national average of 14 students per teacher, ranging from around 11.55 to 12.87 over the last decade. This lower ratio suggests potentially more personalized attention for students, which might appeal to families considering moving to the area. It also provides a favorable context for real estate agents and investors who could market homes around local schools as a key selling point. Additionally, lower ratios could positively impact property appraisals and insurance rates by portraying the community as supportive of quality education.
