Somervell County Real Estate and Livability Trends
Somervell County, Texas has seen impressive growth in median home values, rising from $139,800 in 2015 to $246,600 by 2022. This trend outpaces state and national averages, likely driven by a surge in average taxable income, which jumped from approximately $59,111.32 in 2013 to around $91,714.39 in 2021. The uptick in residential energy tax credits to $2,750.00 in 2020 indicates a local push... Read more
Somervell County Market Trends
Somervell County, Texas has seen a remarkable rise in median home values, from $139,800 in 2015 to $246,600 in 2022, outpacing both state and national averages. Additionally, residential energy tax credits have skyrocketed, reaching $2,750.00 in 2020, which hints at growing investments in energy efficiency. Real estate taxes have also shown a significant increase, from $3,189.19 in 2012 to a peak... Read more
Median Value of Occupied Housing Units in Somervell County, Texas Over the Last 8 Years
Over the past eight years, the median home values in Somervell County, Texas have shown significant growth, rising from $139,800 in 2015 to $246,600 in 2022. This increase seems to outpace both the state of Texas and the national average, where the median home values went from $136,000 to $238,000 and from $125,500 to $179,400, respectively, during the same period. This trend may be of particular interest to investors and those looking to build or move to the area, suggesting a robust and potentially lucrative real estate market compared to broader benchmarks.
Residential Energy Tax Credit Per Tax Return in Somervell County, TX Over the Last 8 Years
Somervell County, Texas has seen a noticeable increase in average residential energy tax credits per tax return over the last eight years. Starting at around $285.71 in 2013, the amount spiked significantly, peaking at $2750.00 in 2020. This upward trend suggests growing investments in energy-efficient improvements, potentially offering attractive tax incentives for homeowners and investors. Those interested in real estate, appraisals, or building properties in the area might find this data encouraging as it reflects a community trend towards sustainability and energy efficiency.
Average Real Estate Taxes Per Tax Return in Somervell County, TX Over the Last 10 Years
Real estate taxes per tax return in Somervell County, Texas have seen a notable upward trend over the past decade, with average figures starting at $3,189.19 in 2012 and peaking at $6,545.45 in 2020 before a slight decrease to $6,238.10 in 2021. This progression suggests increasing property values and possibly higher local tax rates, which could impact budget considerations for potential investors and homeowners. Real estate agents and insurance agents should stay informed on these trends to better advise clients on long-term costs and market dynamics.
Percentage of Farm Returns in Somervell County, TX Over the Last 10 Years
Over the last decade, the percentage of farm tax returns in Somervell County, Texas, mostly hovered around 7% to 9%. A slight downward trend is noticeable, with a peak of approximately 9.02% in 2012, dipping to around 7.04% in 2021. Farm tax returns indicate income generated from agricultural activities. These figures could suggest shifting economic activities or challenges within the local farming sector. For investors or individuals considering moving to or developing property in Somervell County, understanding these trends might offer insights into the viability and sustainability of agricultural ventures in the area.
Number of Mortgages by Occupancy Type in Somervell County, TX Over the Last 5 Years in Somervell County
Mortgage trends in Somervell County, Texas over the past five years show a clear dominance of principal residences, with counts peaking at 621 in 2021 but then experiencing a notable decline to 396 in 2022. Investment property mortgages also saw a slight drop, most pronounced in 2022. Second residences consistently show the least activity, with little variation year over year. Shifts in occupancy type could indicate changing economic conditions, demographic shifts, or varying levels of investor confidence, all important for investors and real estate stakeholders assessing market viability and risk.
Economic Outlook
Somervell County, Texas, has experienced a significant rise in average taxable income per tax return, jumping from roughly $59,111.32 in 2013 to around $91,714.39 in 2021. Such growth may point to economic development and higher individual income levels, making the county enticing for investors and potential residents. The fluctuations in state and local income taxes, ranging from $3,750.00 to $6,240.00 over several years, could reflect underlying economic shifts. Moreover, an increase in total... Read more
Average Taxable Income per Tax Return in Somervell County, TX over the last 9 years
Over the past nine years, Somervell County, Texas, has seen a noteworthy increase in average taxable income per tax return. Starting from approximately $59,111.32 in 2013, it steadily climbed to around $91,714.39 in 2021. This upward trend could indicate economic growth and rising individual income levels in the county, potentially making it an attractive area for investors and those considering relocation. Real estate agents, appraisers, and insurance professionals may find this data particularly relevant for understanding property values and market dynamics in Somervell County.
Average State and Local Income Taxes Per Tax Return in Somervell County, TX Over the Last 6 Years
Somervell County, Texas has seen notable fluctuations in state and local income taxes per tax return over the last six years. Starting at $4,050.00 in 2012, taxes rose sharply to $5,075.00 in 2013, dipped back to $3,750.00 in 2014, then spiked to $6,240.00 in 2015. By 2016, there was a significant drop to about $3,983.33 before increasing again to $4,700.00 in 2017. These variances could suggest economic changes and may be critical for potential investors, real estate developers, and financial institutions to consider when evaluating opportunities and risks in the area.
Average Total Tax Liability Per Tax Return in Somervell County, TX Over the Last 10 Years
Over the last decade, the average total tax liability per tax return in Somervell County, Texas has shown a general upward trend, notably spiking from $12,000.00 in 2020 to around $15,423.63 in 2021. While there have been slight fluctuations, such as a dip in 2018 to approximately $10,348.29 from a peak of $11,455.90 in 2016, the overall trajectory suggests a rising economic activity or inflationary factors influencing increased tax liabilities. This pattern could be valuable for real estate investors, insurance agents, property developers, and residents, hinting at evolving financial dynamics and potential investment opportunities within the county.
Cost of Living in Somervell County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,360 | $1,311 | $2,045 | $1,570 | $1,032 |
| 1 adult 4 children | $1,360 | $1,071 | $1,566 | $1,570 | $1,168 |
| 2 adults 3 children | $1,360 | $1,071 | $1,773 | $1,570 | $852 |
| 1 adult 3 children | $1,360 | $874 | $1,294 | $1,570 | $953 |
| 2 adults 2 children | $957 | $877 | $1,502 | $1,371 | $694 |
| 1 adult 2 children | $957 | $655 | $1,022 | $1,371 | $646 |
| 2 adults 1 child | $957 | $693 | $1,230 | $724 | $637 |
| 1 adult 1 child | $957 | $448 | $751 | $724 | $534 |
| 2 adults | $785 | $557 | $958 | $0 | $535 |
| 1 adult | $722 | $304 | $479 | $0 | $460 |
Safety trends & Data
Property crime in Somervell County, Texas has seen intriguing fluctuations over the past five years, with larceny-theft incidents peaking at 12.0 cases in 2019 before dropping to 2.0 cases in 2020, and rebounding to 6.0 cases in 2022. Sporadic fraud incidents and a spike in motor vehicle thefts in 2019 could impact real estate values and insurance premiums, which are key considerations for investors and other stakeholders. Burglary and vandalism have remained minimal but consistent, suggesting... Read more
Property Crime Trends in Somervell County, TX Over the Last 5 Years
Over the last five years, property crimes in Somervell County, Texas have exhibited some interesting fluctuations. Larceny-theft incidents have seen a significant rise and fall, peaking at 12.0 cases in 2019 before dropping to just 2.0 cases in 2020, then climbing back to 6.0 cases in 2022. Burglary and vandalism appear minimal but consistent, each recording only a few cases annually. Notable outliers include a spike in motor vehicle thefts in 2019 and episodes of fraud that seem sporadic but noteworthy for potential investors and insurers evaluating risk profiles. These crime trends might influence real estate values and insurance premiums, making them key factors for stakeholders in Somervell County.
Demographics
Somervell County, Texas' population shows only a slight difference in male and female numbers, with females having a marginal edge. The educational attainment largely skews towards high school graduates and those with some college, with bachelor's degree holders also making a significant dent. The age distribution suggests the population is quite spread out across different age groups, but there's a noticeable bump in the 55 to 64 age range. Racially, the county is overwhelmingly white, with... Read more
Race Distribution in Somervell County, Texas (2022)
Educational Attainment in Somervell County, Texas (2022)
Age Distribution in Somervell County, Texas
Citizen Population in Somervell County, Texas (2022)
Political Trends & Data
Somervell County, Texas shows a strong Republican leaning, with about 83% of the votes in the 2020 U.S. Presidential Election going to the Republican candidate, compared to roughly 15% for the Democrat. Minor parties barely registered, with Libertarians at around 1% and Greens at just 0.2%. This conservative voter base could have significant implications for future local and national... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Somervell County, Texas exhibits a notable leaning towards the Republican party, which garnered approximately 83% of the votes in the 2020 U.S. Presidential Election, dwarfing the Democrat share of around 15%. Minor parties, such as the Libertarians and Greens, barely made a dent with roughly 1% and 0.2% respectively. This heavy Republican inclination might suggest a deeply entrenched conservative voter base in the area, possibly affecting future local and national elections.
82.98% of voters voted for the Republican party in the 2020 Presidential Election
15.52% of voters voted for the Democrat party in the 2020 Presidential Election
1.13% of voters voted for the Livertarian party in the 2020 Presidential Election
0.20% of voters voted for the Green party in the 2020 Presidential Election
0.16% of voters voted for the Other party in the 2020 Presidential Election
School Data
Somervell County, Texas has experienced shifts in its student-to-teacher ratio, peaking at nearly 15 students per teacher in 2018 but improving to around 13:1 in 2023. This ratio is often more favorable compared to the national average of 14:1, potentially attracting families seeking more individualized attention for their children. Lower student-to-teacher ratios can boost property values and contribute to a stable community environment, which is a noteworthy aspect for potential investors and... Read more
Student-to-teacher ratio in Somervell County, Texas over the last 10 years
The student-to-teacher ratio in Somervell County, Texas has seen some fluctuation over the past decade, peaking at nearly fifteen students per teacher in 2018 before dropping to just under thirteen in 2022, and recently climbing back to around thirteen to one in 2023. Compared to the national average of fourteen students per teacher, Somervell County often has slightly more favorable ratios, which might appeal to families prioritizing more individualized attention in schools. For potential investors or those considering a move to this area, these relatively lower ratios could indicate a supportive educational environment, which can enhance property values and create a stable community atmosphere. Appraising and insuring properties here could consider these educational factors as part of the value offered by the community.
