Millard County Real Estate and Livability Trends
Millard County, Utah has seen median home values surge by 64% from $138,400 in 2015 to $227,000 in 2022, reflecting economic stability and attracting real estate interests. Average taxable income per tax return climbed from $41,889.60 in 2013 to $62,498.53 in 2021, with state and local income taxes also rising significantly, possibly due to higher income levels or policy shifts. Increased... Read more
Millard County Market Trends
Millard County's median home values saw a notable rise, from $138,400 in 2015 to $227,000 in 2022, reflecting a 64% increase. However, Utah's overall housing market outperformed this growth, indicating a more moderate appreciation in Millard County. Real estate taxes have also risen sharply, suggesting growing property values and possibly a tighter market. The average residential energy tax... Read more
Median Value of Occupied Housing Units in Millard County, Utah Over the Last 8 Years
Millard County's median home values have steadily increased over the past eight years, starting at $138,400 in 2015 and reaching $227,000 in 2022. While this growth of around 64% is compelling, it's important to compare it to broader markets. Utah as a whole saw its median home values jump significantly from $215,900 in 2015 to $408,500 in 2022, outperforming Millard County both in initial value and growth rate. On a national level, home values began at $125,500 in 2015 and climbed to $179,400 in 2022, indicating slower growth than Millard County. For investors, understanding that Millard County's increase, while robust, lags behind the state level could be a crucial piece of the puzzle.
Residential Energy Tax Credit Per Tax Return in Millard County, UT Over the Last 9 Years
Over the past nine years, Millard County in Utah has seen significant increases in residential energy tax credits per tax return, with notable spikes occurring from 2015 to 2021. Starting at just over $300.00 in 2013, the average has escalated to over $4,000.00 by 2021. This upward trend may suggest growing investments in energy efficiency and sustainability within the county, appealing to environmentally-conscious investors, homeowners, and builders interested in potential cost savings or incentives. These patterns could also impact property appraisals and insurance assessments, reflecting a higher valuation on energy-efficient homes.
Average Real Estate Taxes Per Tax Return in Millard County, UT Over the Last 10 Years
Over the past decade, Millard County, Utah has seen a notable increase in average real estate taxes per tax return, rising from roughly $1,259.23 in 2012 to about $2,113.51 by 2021. This upward trend suggests escalating property values, likely driven by growing demand and perhaps limited supply. For investors and potential homeowners, this could indicate a strong, appreciating market. Appraisers and insurance agents may also find these trends significant for assessing property values and associated risks. Real estate agents can leverage this data to emphasize the county's growth and potentially higher returns on investment.
Percentage of Farm Returns in Millard County, UT Over the Last 10 Years
Millard County, Utah has seen some fluctuations in the percentage of farm returns over the past decade, starting from 9.54% in 2012 and experiencing a slight peak at 10.04% in 2014, before gradually declining to 8.05% in 2021. This trend could suggest a changing agricultural landscape or economic factors impacting farm profitability and sustainability in the region. Farm tax returns refer to the income tax filings by farmers which provide insight into the financial health and viability of the agriculture sector. For potential investors, property builders, and residents, these trends may indicate shifts in economic opportunities and land use patterns, important factors to consider when evaluating the future prospects of the area.
Number of Mortgages by Occupancy Type in Millard County, UT Over the Last 5 Years in Millard County
Over the last five years, Millard County, Utah, has seen noticeable fluctuations in the number of mortgages issued for different types of residences. Principal residences consistently dominate the market, peaking in 2020 with 941 mortgages, but showing a decline to 624 by 2022. Investment properties and second residences have much lower counts, with investment property mortgages experiencing a slight decline from 54 in 2021 to 30 in 2022, and second residences hovering around 15-25 mortgages annually. These shifts in occupancy type can significantly impact neighborhood stability, property values, and market strategies for various stakeholders. For instance, investors might see reduced competition, while real estate agents and builders should stay attuned to the demand for principal residences when drafting future plans. Insurance agents and appraisers, too, may need to adjust their assessments based on these evolving trends.
Economic Outlook
Millard County, Utah has experienced substantial growth in average taxable income per tax return over the past nine years, with figures rising from $41,889.60 in 2013 to $62,498.53 in 2021. This trend may signal economic stability and upward mobility, making the area attractive for investors and real estate professionals. Concurrently, state and local income taxes have also seen an uptick, with a notable jump starting in 2018 from $4,574.81 to $7,020.00 in 2021, possibly indicating higher... Read more
Average Taxable Income per Tax Return in Millard County, UT over the last 9 years
Over the past nine years, Millard County, Utah has generally seen a steady increase in the average taxable income per tax return, rising from $41,889.60 in 2013 to $62,498.53 in 2021. This growth trend suggests potential economic stability and upward mobility in the area, which could be appealing to investors, real estate agents, and those considering relocation. The notable jump in average income in 2021 may point to significant economic developments or changes within the county, which could influence property values and market conditions.
Average State and Local Income Taxes Per Tax Return in Millard County, UT Over the Last 10 Years
Over the last decade, Millard County, Utah has seen a fairly steady increase in average state and local income taxes per tax return, with a notable jump starting in 2018 where it increased from $4574.81 to $6015.79 and continued to rise, reaching $7020.00 in 2021. This trend might suggest growing income levels or changes in tax policies. For investors or potential homeowners, understanding these figures could offer insight into the economic landscape, potentially impacting property values, cost of living, and overall financial planning.
Average Total Tax Liability Per Tax Return in Millard County, UT Over the Last 10 Years
Over the past decade, Millard County, Utah has seen notable fluctuations in average total tax liability per tax return, peaking in 2021 at $7,650.12. Notably, there was a sharp increase from 2012's average of $5,287.62 to 2013's $5,913.40, suggesting potential economic changes or policy adjustments. Investors and real estate agents should consider these trends, as the rising tax liabilities could impact overall property affordability and market dynamics. Appraisers and insurance agents might also find this crucial for assessments and premium calculations, given the dynamic economic landscape reflected by these tax changes.
Cost of Living in Millard County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,115 | $1,351 | $2,063 | $1,467 | $1,452 |
| 1 adult 4 children | $1,115 | $1,103 | $1,574 | $1,467 | $1,581 |
| 2 adults 3 children | $1,115 | $1,104 | $1,792 | $1,467 | $1,207 |
| 1 adult 3 children | $1,115 | $901 | $1,303 | $1,467 | $1,316 |
| 2 adults 2 children | $826 | $904 | $1,521 | $1,270 | $988 |
| 1 adult 2 children | $826 | $675 | $1,032 | $1,270 | $977 |
| 2 adults 1 child | $826 | $714 | $1,250 | $632 | $862 |
| 1 adult 1 child | $826 | $461 | $761 | $632 | $715 |
| 2 adults | $670 | $574 | $979 | $0 | $666 |
| 1 adult | $552 | $313 | $489 | $0 | $566 |
Safety trends & Data
Property crime in Millard County, Utah, has shown some fluctuating trends over the past five years, with larceny-theft being the most commonly reported crime each year. In 2018, there were 43 incidents of larceny-theft, peaking at 48 in 2019 but dropping to 22 by 2022. Burglary incidents varied, spiking at 14 in 2019 before stabilizing at lower numbers in subsequent years. Crimes like vandalism and motor vehicle theft remained relatively steady but low throughout this period. Those considering... Read more
Property Crime Trends in Millard County, UT Over the Last 5 Years
Property crime in Millard County, Utah, has shown some fluctuating trends over the past five years, with larceny-theft being the most commonly reported crime each year. In 2018, there were 43 incidents of larceny-theft, peaking at 48 in 2019, but dropping to 22 by 2022. Burglary incidents also varied, spiking at 14 in 2019 before stabilizing at lower numbers in subsequent years. Crimes like vandalism and motor vehicle theft remained relatively steady but low throughout this period. Those considering investments, property development, or relocation might view these trends as indicators of the area's shifting dynamics in property safety and law enforcement effectiveness.
Demographics
Millard County, Utah, shows a near even split in its adult population by gender, with slightly more males than females. Educational attainment varies with a significant portion having high school diplomas or some college experience, while fewer possess advanced degrees. The age distribution reveals a sizable young population under 10 years, indicating potential future growth and demand for family-oriented services. Racially, the county is predominantly White with minimal representation from... Read more
Race Distribution in Millard County, Utah (2022)
Educational Attainment in Millard County, Utah (2022)
Age Distribution in Millard County, Utah
Citizen Population in Millard County, Utah (2022)
Political Trends & Data
Millard County, Utah shows a marked preference for Republican candidates, with nearly 87% of the vote in the 2020 U.S. Presidential Election. Democrats received around 10% of the vote, and other parties, including Libertarian and Green, had minimal support. This strong conservative leaning could suggest that traditional, values-driven politics heavily influence the area’s demographic and potentially impact local... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Millard County, Utah, exhibits a strong preference for Republican candidates, with nearly 87% of the vote in the 2020 U.S. Presidential Election potentially reflecting this inclination. Democrats garnered roughly 10%, and other parties like Libertarian and Green received minimal support, suggesting limited political diversity. This Republican dominance might indicate deep-seated conservative values playing a significant role in the county's political landscape.
87.30% of voters voted for the Republican party in the 2020 Presidential Election
10.08% of voters voted for the Democrat party in the 2020 Presidential Election
1.03% of voters voted for the Livertarian party in the 2020 Presidential Election
0.08% of voters voted for the Green party in the 2020 Presidential Election
1.50% of voters voted for the Other party in the 2020 Presidential Election
School Data
Student-to-teacher ratios in Millard County, Utah have hovered around 19 in recent years, notably higher than the national average of 14. This suggests larger class sizes, which may influence family relocation decisions and property values. For real estate professionals and developers, understanding these ratios is crucial, as they could signal a need for enhanced educational infrastructure to attract new... Read more
Student-to-teacher ratio in Millard County, Utah over the last 6 years
Student-to-teacher ratios in Millard County, Utah have fluctuated over the past six years, peaking at roughly 20 in 2017 and stabilizing around 19 in recent years. This ratio exceeds the national average of 14 students per teacher, which might imply larger class sizes and potentially limited individual attention for students. For prospective residents, investors, and real estate agents, understanding these ratios can provide insight into the educational environment—a critical factor in family relocation decisions and property valuation. Builder planning new developments may also consider the impact of potentially higher demand for educational infrastructure.
