Smith County Real Estate and Livability Trends
Smith County, Texas, has witnessed a 54% surge in median home values over the past eight years, currently at $201,400, reflecting a warming local market despite more moderate growth compared to state trends. Rising taxable incomes and a declining poverty rate hint at growing economic health, potentially drawing investors. Real estate taxes have also climbed, possibly due to increased property... Read more
Smith County Market Trends
Smith County, Texas, has experienced a notable 54% increase in median home values over the past eight years, from $130,600 in 2015 to $201,400 in 2022. Despite this significant growth, it remains more moderate compared to Texas statewide trends. Residential energy tax credits show dramatic fluctuations, peaking at $2,268.00 in 2018, highlighting an evolving interest in energy-efficient homes.... Read more
Median Value of Occupied Housing Units in Smith County, Texas Over the Last 8 Years
Smith County, Texas, has seen a substantial rise in median home values over the past eight years, jumping from $130,600 in 2015 to $201,400 in 2022. This 54% increase significantly outpaces the national growth, which saw values rise from $125,500 to $179,400, marking a 43% increase. While Texas overall also experienced strong growth, with home values moving from $136,000 to $238,000—a 75% increase—Smith County's figures imply an opportunity for those looking to invest in or relocate to an area exhibiting robust yet relatively moderate property value growth compared to statewide trends.
Residential Energy Tax Credit Per Tax Return in Smith County, TX Over the Last 9 Years
Residential energy tax credits in Smith County, Texas, have seen substantial fluctuations over the past nine years, peaking notably at $2,268.00 in 2018. While there were modest increases between 2013 and 2016, the period from 2017 onwards shows more dramatic changes, reflecting possibly varying federal or state incentives and perhaps a growing interest in energy-efficient improvements among homeowners. The significant highs and subsequent stabilization around $1,491.78 in 2019 and $2,072.73 in 2021 may suggest a trend toward more sustained investments in energy efficiency, making it a potentially attractive area for real estate development focused on modern, energy-efficient housing.
Average Real Estate Taxes Per Tax Return in Smith County, TX Over the Last 10 Years
Real estate taxes in Smith County, Texas, have shown a steady increase over the past decade, moving from approximately $4,259.15 per tax return in 2012 to around $7,483.42 in 2021. The most notable spike happened between 2017 and 2018, where the average taxes jumped significantly from $5,386.66 to $7,073.77, indicating a potential rise in property values or adjustments in tax rates. This trend could be a key factor for investors, homebuyers, and real estate professionals when evaluating long-term costs and the overall economic health of the area.
Percentage of Farm Returns in Smith County, TX Over the Last 10 Years
Farm tax returns in Smith County, Texas show a slightly declining trend over the past decade, with percentages generally hovering around 2.60% to 2.50% from 2012 to 2018 before dipping to about 2.41% in 2020 and slightly rebounding to 2.50% in 2021. Farm tax returns can be indicative of the agricultural economic activity in a region, impacting everything from local land values to the robustness of supporting agricultural businesses. For potential investors, builders, or homebuyers, this trend could imply a slowly shrinking agricultural base, which might affect future land use and economic planning in Smith County.
Number of Mortgages by Occupancy Type in Smith County, TX Over the Last 5 Years in Smith County
Smith County, Texas has shown fluctuating trends in mortgage types over the past five years, with principal residences consistently dominating the count. There is a notable decrease in mortgages for both investment properties and second residences after peaks in 2021. For prospective investors, this could indicate varying dynamics in the county’s real estate market, affecting property values and investment viability. Shifts in principal residence numbers might loosely reflect broader economic conditions or demographic changes. Real estate agents, appraisers, and insurance agents could leverage these insights to forecast market trends and adjust their strategies accordingly.
Economic Outlook
Smith County, Texas has shown an upward trend in average taxable income per tax return, rising from $58,473.37 in 2013 to $78,783.19 in 2021, signaling growing affluence that could attract investors and new residents. The county also experienced a notable increase in average state and local income taxes, peaking at $19,998.21 in 2021, indicating a potentially thriving local economy but possibly higher living costs. Additionally, the average total tax liability reached a peak of $14,301.98 in... Read more
Average Taxable Income per Tax Return in Smith County, TX over the last 9 years
Smith County, Texas has seen a notable increase in average taxable income per tax return over the past nine years, rising from $58,473.37 in 2013 to $78,783.19 in 2021. This upward trend suggests a growing affluence in the area, which could be attractive for investors, real estate agents, and those considering relocating. However, the fluctuations between some years indicate variability that should be considered for financial planning and projections. For example, the income slightly dipped from 2014 to 2016 before picking up momentum again. This context could be crucial for appraisers and insurance agents assessing economic stability and growth potential in Smith County.
Average State and Local Income Taxes Per Tax Return in Smith County, TX Over the Last 10 Years
In recent years, Smith County, Texas has seen a significant rise in average state and local income taxes per tax return. From $7,162.11 in 2012, there was a notable peak in 2021 at $19,998.21. This upward trend potentially indicates a burgeoning local economy, attracting investors and newcomers alike, but it could also signal higher living costs. This hike may impact appraisers, insurance agents, property developers, and real estate professionals by possibly reflecting increased property values and higher market turnover.
Average Total Tax Liability Per Tax Return in Smith County, TX Over the Last 10 Years
The average total tax liability per tax return in Smith County, Texas, has shown a general increase over the last decade, peaking at around $14,301.98 in 2021. Notable fluctuations occurred in 2015 and 2019, where liabilities dipped slightly before resuming their upward trend. This upward trajectory might be a critical factor for potential investors, homebuyers, and appraisers in assessing long-term financial commitments. Additionally, insurance agents might find this data useful for estimating future risk assessments. For real estate agents and those planning to build property, understanding these tax trends could inform pricing strategies and market expectations.
Cost of Living in Smith County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,460 | $1,395 | $1,911 | $1,252 | $952 |
| 1 adult 4 children | $1,460 | $1,140 | $1,461 | $1,252 | $1,067 |
| 2 adults 3 children | $1,460 | $1,140 | $1,658 | $1,252 | $776 |
| 1 adult 3 children | $1,460 | $931 | $1,208 | $1,252 | $854 |
| 2 adults 2 children | $1,133 | $933 | $1,405 | $1,088 | $665 |
| 1 adult 2 children | $1,133 | $697 | $955 | $1,088 | $629 |
| 2 adults 1 child | $1,133 | $738 | $1,152 | $557 | $648 |
| 1 adult 1 child | $1,133 | $476 | $703 | $557 | $534 |
| 2 adults | $927 | $593 | $900 | $0 | $559 |
| 1 adult | $923 | $323 | $450 | $0 | $502 |
Safety trends & Data
Smith County, Texas, is seeing a promising decline in property crime, with larceny-theft incidents halving from 1,089 in 2018 to 545 in 2022. Similar drops in burglary and vandalism further hint at an improving safety profile, potentially boosting the county's appeal to investors and homebuyers. Although motor vehicle thefts spiked in 2020, they dropped again by 2022, indicating a possible stabilization. With arson and embezzlement being rare and largely unchanged, the overall trend suggests a... Read more
Property Crime Trends in Smith County, TX Over the Last 5 Years
Property crime in Smith County, Texas, shows a notable downward trend over the last five years, particularly in larceny-theft, which dropped from 1089 incidents in 2018 to 545 in 2022. While burglary and vandalism have also decreased, motor vehicle theft saw a fluctuation, with a peak in 2020 at 72 incidents, then reducing to 58 by 2022. Arson and embezzlement remain relatively rare, with minimal changes. This declining crime trend might indicate improving safety, making the area more attractive for potential investors, homebuyers, real estate agents, and insurers concerned with risk assessment.
Demographics
Smith County, Texas sees a slight tilt towards a higher female adult population. The county's educational attainment shows a significant proportion of residents having completed some college or holding a high school diploma, which could imply a moderately educated workforce. Age distribution reflects a robust younger demographic under 35, hinting at potential growth in family-oriented services and youth employment opportunities. The racial composition is predominantly White, with African... Read more
Race Distribution in Smith County, Texas (2022)
Educational Attainment in Smith County, Texas (2022)
Age Distribution in Smith County, Texas
Citizen Population in Smith County, Texas (2022)
Political Trends & Data
Smith County, Texas, leaned heavily Republican in the 2020 U.S. Presidential Election, with around 69% of votes likely favoring the GOP. Democrats garnered nearly 30%, showcasing a significant partisan divide. Third parties like Libertarians and Greens showed minimal presence, hinting at their limited impact in this predominantly two-party... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Smith County, Texas, displayed a strong Republican preference in the 2020 U.S. Presidential Election, with around 69% of votes possibly going to the GOP. Democrats followed with nearly 30% of the vote share, suggesting a considerable gap between the two major parties. Libertarians and Greens saw minimal support, likely indicating limited influence on the overall election outcome in this county.
69.02% of voters voted for the Republican party in the 2020 Presidential Election
29.59% of voters voted for the Democrat party in the 2020 Presidential Election
1.12% of voters voted for the Livertarian party in the 2020 Presidential Election
0.25% of voters voted for the Green party in the 2020 Presidential Election
0.01% of voters voted for the Other party in the 2020 Presidential Election
School Data
Over the last decade, the student-to-teacher ratio in Smith County, Texas has fluctuated slightly, starting at 14 students per teacher in 2014, peaking at around 14.5 in 2019, and trending down to approximately 13.7 in 2023. A student-to-teacher ratio close to the national average of 14 suggests a balanced classroom environment, potentially increasing the area's attractiveness for families. This could influence property values positively, making the region appealing for homebuyers and... Read more
Student-to-teacher ratio in Smith County, Texas over the last 10 years
Over the last decade, the student-to-teacher ratio in Smith County, Texas has seen some fluctuations. Starting at roughly 14 students per teacher in 2014, the ratio peaked at around 14.5 in 2019 but has shown a slight downward trend since, reaching approximately 13.7 in 2023. A student-to-teacher ratio that is close to the national average of 14 could suggest a balanced and manageable classroom environment, which can be a crucial factor for families considering moving to the area. For investors and real estate agents, a lower ratio might indicate a higher quality of education, potentially making the area more attractive for homebuyers and impacting property values positively. Similarly, insurance agents and appraisers might note trends in the local education system as part of a broader assessment of community attractiveness and stability.
