Piute County Real Estate and Livability Trends
Piute County, Utah has experienced a notable uptick in average taxable income, hitting $50,707.94 in 2021, coupled with an increase in state and local taxes. This may signal economic growth or new business developments affecting property values. Median home values have also risen from $140,800 in 2015 to $218,800 in 2022, creating potential opportunities for investors given that it's still more... Read more
Piute County Market Trends
Piute County, Utah's housing market has shown a remarkable rise in median home values, from $140,800 in 2015 to $218,800 in 2022, hinting at a promising upward trajectory that might appeal to investors. Interestingly, this is more affordable compared to Utah's statewide median of $408,500, possibly pointing to untapped potential in Piute. However, real estate taxes in the county have climbed to a... Read more
Median Value of Occupied Housing Units in Piute County, Utah Over the Last 8 Years
Piute County, Utah's housing market has experienced a consistent rise in median home values over the last eight years, increasing from $140,800 in 2015 to $218,800 in 2022, which reflects a stronger upward trajectory compared to the national trend. While Utah as a state has seen its median home values soar significantly higher, reaching $408,500 in 2022, Piute County remains more affordable, potentially offering lucrative investment opportunities for those looking to capitalize on a market still on the rise. This stark contrast underscores Piute County's unique position, where property acquisition may still be more viable compared to the highly competitive broader Utah housing market.
Average Real Estate Taxes Per Tax Return in Piute County, UT Over the Last 9 Years
Over the past nine years, real estate taxes in Piute County, Utah have varied significantly, with a noticeable upward trend culminating in a peak of $2,000.00 per tax return in 2021. Investors and property developers might find this increasing tax burden an important consideration when planning long-term investments. Real estate agents and appraisers should be aware of this trend to better advise clients on potential future costs, while insurance agents may need to adjust coverage plans accordingly. This tax data can also matter for current residents evaluating their property's financial impact over the years.
Percentage of Farm Returns in Piute County, UT Over the Last 10 Years
Over the last decade, Piute County in Utah has seen a fluctuating trend in farm tax returns, with percentages peaking at around 17.31% in 2012 and dipping to 11.86% in 2019. Farm tax returns, which indicate the financial performance and land use for agricultural purposes, provide a useful metric for investors considering opportunities in rural and agribusiness sectors. The observed variances could be attributed to changing economic conditions, crop yields, and market prices, impacting local agricultural profitability and hence the attractiveness and viability of farm-based investments.
Number of Mortgages by Occupancy Type in Piute County, UT Over the Last 5 Years in Piute County
Over the past five years in Piute County, Utah, principal residence mortgages have consistently led the market, peaking in 2020 with 90 mortgages before gradually reducing to 75 in 2022. Second residences also saw some fluctuation, briefly increasing in 2021 before dropping again. Investment properties have remained stable but lower in comparison. These shifts in occupancy type could be pivotal for investors, appraisers, insurance agents, and real estate professionals as they highlight shifts in demand, risk profiles, and investment opportunities in the area. Notably, the rise in principal residences around 2020 may indicate an influx of residents, impacting home values and insurance premiums.
Economic Outlook
Piute County, Utah has experienced a recent uptick in average taxable income, hitting $50,707.94 in 2021, alongside a consistent rise in average state and local income taxes, which peaked at $5,850.00 in 2019. This may signal economic growth, new business developments, or shifts in employment, potentially impacting property values and housing demand. Total tax liability per tax return also saw a sharp increase, reaching $6,056.52 in 2021, reflecting possible market growth that could be key for... Read more
Average Taxable Income per Tax Return in Piute County, UT over the last 9 years
Average taxable income in Piute County, Utah, has generally exhibited fluctuations over the past nine years, peaking at $50,707.94 in 2021. This trend shows a recent upward swing compared to the relatively stable but lower-income levels from earlier years. These variations could potentially signal changing economic conditions, new business developments, or shifts in employment patterns within the county. Such income trends are significant for investors, property builders, real estate agents, and others since they can impact property values, demand for housing, and the overall economic climate of the region.
Average State and Local Income Taxes Per Tax Return in Piute County, UT Over the Last 9 Years
Piute County, Utah's average state and local income taxes per tax return have demonstrated a noticeable upward trend over the past nine years. Starting at $2,980.00 in 2012, the value increased relatively steadily, peaking at $5,850.00 in 2019, and slightly declining to $4,833.33 in 2021. This increase could suggest enhanced economic activity or rising incomes, potentially making it a more attractive location for investors, property builders, and real estate agents. However, the higher taxes might be a consideration for those looking to move to or reside in the area, influencing budget planning or lending decisions for both appraisals and insurance assessments.
Average Total Tax Liability Per Tax Return in Piute County, UT Over the Last 10 Years
Over the past decade, Piute County, Utah has shown notable fluctuations in average total tax liability per tax return. From a low of approximately $3,835.29 in 2018, there has been a significant uptick, reaching around $6,056.52 by 2021. This steep rise over recent years could indicate economic growth or increased property values, pivotal for investors, realtors, and those considering relocation. For appraisers and insurance agents, understanding these trends is essential as tax liabilities often mirror market conditions and property valuations.
Cost of Living in Piute County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,174 | $1,351 | $2,063 | $1,467 | $1,535 |
| 1 adult 4 children | $1,174 | $1,103 | $1,574 | $1,467 | $1,666 |
| 2 adults 3 children | $1,174 | $1,104 | $1,792 | $1,467 | $1,285 |
| 1 adult 3 children | $1,174 | $901 | $1,303 | $1,467 | $1,409 |
| 2 adults 2 children | $826 | $904 | $1,521 | $1,270 | $1,022 |
| 1 adult 2 children | $826 | $675 | $1,032 | $1,270 | $1,025 |
| 2 adults 1 child | $826 | $714 | $1,250 | $632 | $893 |
| 1 adult 1 child | $826 | $461 | $761 | $632 | $744 |
| 2 adults | $670 | $574 | $979 | $0 | $693 |
| 1 adult | $552 | $313 | $489 | $0 | $588 |
Demographics
Piute County, Utah, reveals a predominantly white demographic with a noticeably higher male population. The educational attainment suggests the majority are high school graduates or have some college experience, though numbers drop significantly for higher-level degrees. Age distribution indicates an older population, particularly those aged 65 to 74, hinting at potential community needs for senior services and healthcare. Economic investments might focus on educational programs to improve the... Read more
Race Distribution in Piute County, Utah (2022)
Educational Attainment in Piute County, Utah (2022)
Age Distribution in Piute County, Utah
Citizen Population in Piute County, Utah (2022)
School Data
Piute County, Utah has seen the student-to-teacher ratio decrease from sixteen to just under ten over the past six years. This trend might make the area more appealing to families, suggest a stable or growing demand in the community for appraisers and insurance agents, and serve as a strong selling point for real estate agents. Developers could view it as a sign of a community investing in quality education, enhancing the attractiveness of the area for potential... Read more
Student-to-teacher ratio in Piute County, Utah over the last 6 years
Piute County, Utah has seen a notable decrease in the student-to-teacher ratio over the last six years, dropping from roughly sixteen in 2014 to just under ten in 2023. This trend could benefit those investing in real estate or looking to move to the area, as lower student-to-teacher ratios often indicate more personalized attention in schools, potentially attracting families. For appraisors and insurance agents, this shift might suggest a stable or even growing demand in the community, impacting property values and risk assessment. Real estate agents might find this a strong selling point, while developers could see it as an indicator of a community investing in quality education. Residents and potential movers could appreciate the benefit of smaller class sizes, giving Piute County an edge over areas that meet or exceed the national average of fourteen students per teacher.
