Wayne County Real Estate and Livability Trends
Wayne County, Utah has seen a notable surge in average taxable income, almost doubling from $37,914.68 in 2013 to $69,701.56 in 2021, paired with more than triple the state and local income taxes from $3,455.00 in 2012 to $11,544.44 by 2021. Real estate market trends feature median home values soaring from $198,600 in 2015 to $316,200 in 2022, which might be a reflection of the county's economic... Read more
Wayne County Market Trends
Real estate trends in Wayne County, Utah, reveal a striking increase in median home values, jumping from $198,600 in 2015 to $316,200 in 2022, outpacing both state and national growth rates. Taxation trends similarly highlight escalating real estate taxes, rising from $1,239.13 in 2012 to $2,944.44 in 2021, which might reflect higher property values or elevated tax rates. Shifts in occupancy... Read more
Median Value of Occupied Housing Units in Wayne County, Utah Over the Last 8 Years
Over the past eight years, Wayne County, Utah has shown significant growth in median home values, rising from $198,600 in 2015 to $316,200 in 2022. Though it experienced some fluctuations, the overall trend aligns with a substantial increase in home values, particularly remarkable when compared to Utah's statewide growth from $215,900 to $408,500 within the same period. On a national level, the median home value increased more modestly from $125,500 in 2015 to $179,400 in 2022. This surge in Wayne County's housing market could indicate greater interest or development in the area, possibly offering profitable opportunities for investors and future homeowners.
Average Real Estate Taxes Per Tax Return in Wayne County, UT Over the Last 10 Years
Over the past decade in Wayne County, Utah, average real estate taxes per tax return have shown a notable upward trend, increasing from approximately $1,239.13 in 2012 to around $2,944.44 in 2021. This steady rise might suggest escalating property values or increased tax rates, potentially affecting decisions for investors, homebuyers, and real estate professionals. This trend is especially relevant for those considering property investments or moves, as rising taxes could impact overall affordability and profitability.
Percentage of Farm Returns in Wayne County, UT Over the Last 10 Years
Over the past decade, Wayne County, Utah saw its percentage of farm tax returns fluctuate somewhat consistently. Starting at approximately 14.95% in 2012, the highest peak hit around 17.12% in 2015 but then gradually decreased to about 13.00% by 2021. Farm tax returns represent the number of farms filing tax returns relative to other types of returns in the area, indirectly reflecting agricultural activity and perhaps investment interest in agricultural property. For those considering investing in, moving to, or developing property in Wayne County, these trends might indicate shifts in economic focus or the viability of farming as an income source in the region.
Number of Mortgages by Occupancy Type in Wayne County, UT Over the Last 5 Years in Wayne County
Over the last five years in Wayne County, Utah, there has been notable fluctuation in the number of mortgages across different occupancy types. Principal residences consistently dominate, peaking in 2021 with 167 recorded mortgages but showing an overall stable trend. Investment properties and second residences have both seen declines, with investment properties dropping from 17 in 2020 to just 5 in 2022, and second residences from 47 in 2020 down to 9 in 2022. Shifts in occupancy type might indicate changing preferences or market conditions that affect the appeal and viability of different property types for investors and buyers, and could suggest broader economic or demographic trends influencing the local real estate market. For investors, appraisers, and insurance agents, these trends could impact property valuations, risk assessments, and investment strategies, while builders and real estate agents may need to adjust their approaches to align with evolving demand.
Economic Outlook
Wayne County, Utah has seen average taxable income per tax return nearly double from $37,914.68 in 2013 to $69,701.56 in 2021, highlighting an economically progressive trend. Concurrently, average state and local income taxes have more than tripled, from $3,455.00 in 2012 to $11,544.44 in 2021, suggesting a growing economic base or potential tax regulation shifts. These patterns could point to higher purchasing power among residents, signaling a potentially robust housing market, rising... Read more
Average Taxable Income per Tax Return in Wayne County, UT over the last 9 years
Wayne County, Utah has experienced a notable upward trend in average taxable income per tax return over the past nine years, climbing from $37,914.68 in 2013 to $69,701.56 in 2021. This steady increase, particularly the substantial jumps seen in 2020 and 2021, may indicate an economically progressive environment, potentially attracting investors and new residents looking for financial growth opportunities. Real estate agents and those in the property sector may find this data particularly useful as it could reflect a higher purchasing power among residents, suggesting a potentially robust housing market. Appraisers and insurance agents could also see these trends as indicative of the county’s rising economic profile, impacting property values and associated risk assessments.
Average State and Local Income Taxes Per Tax Return in Wayne County, UT Over the Last 10 Years
Over the past decade, Wayne County, Utah has seen a notable increase in average state and local income taxes per tax return, rising from $3,455.00 in 2012 to $11,544.44 in 2021. This sharp climb, especially the significant leap observed from 2020 to 2021, suggests a potentially growing economic base or changes in tax regulations. For real estate agents, appraisers, and potential investors, this trend could be indicative of an evolving market with possibly higher disposable incomes. Insurance agents may also need to consider the financial shifts within the county when assessing clients' policies and premiums.
Average Total Tax Liability Per Tax Return in Wayne County, UT Over the Last 10 Years
Over the last decade, Wayne County, Utah has seen fluctuations in the average total tax liability per tax return, with a notable increase in recent years. By 2021, the average tax liability reached a high of $9,391.00, compared to $5,192.31 in 2012. This trend could indicate rising incomes or changing tax policies that potential investors, real estate professionals, appraisers, and insurance agents may want to examine further when considering the area's economic health and property market dynamics.
Cost of Living in Wayne County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,005 | $1,351 | $2,063 | $1,467 | $1,397 |
| 1 adult 4 children | $1,005 | $1,103 | $1,574 | $1,467 | $1,524 |
| 2 adults 3 children | $1,005 | $1,104 | $1,792 | $1,467 | $1,154 |
| 1 adult 3 children | $1,005 | $901 | $1,303 | $1,467 | $1,258 |
| 2 adults 2 children | $826 | $904 | $1,521 | $1,270 | $990 |
| 1 adult 2 children | $826 | $675 | $1,032 | $1,270 | $984 |
| 2 adults 1 child | $826 | $714 | $1,250 | $632 | $865 |
| 1 adult 1 child | $826 | $461 | $761 | $632 | $721 |
| 2 adults | $670 | $574 | $979 | $0 | $669 |
| 1 adult | $552 | $313 | $489 | $0 | $573 |
Demographics
Wayne County, Utah, shows a fairly balanced gender distribution among adults, with a slight male predominance. Educational attainment varies widely, but most residents have at least finished high school, and there is a significant portion with some college education or an associate's degree. The age distribution indicates a substantial number of older adults, particularly those aged 55 to 74, highlighting an aging population. Racial diversity appears limited, with a predominantly White... Read more
Race Distribution in Wayne County, Utah (2022)
Educational Attainment in Wayne County, Utah (2022)
Age Distribution in Wayne County, Utah
Citizen Population in Wayne County, Utah (2022)
Political Trends & Data
Election results in Wayne County, Utah might suggest a strong Republican lean, with 76.00% of the votes going to the Republican candidate. The Democratic candidate received about 23.00%, possibly indicating limited but present support. Minor parties collectively garnered a small fraction of the vote, which could point to low influence or voter engagement for these options in this... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Election results in Wayne County, Utah might suggest a strong Republican lean, with roughly 76% of the votes going to the Republican candidate. The Democratic candidate received about 23%, which could indicate limited but present support. Minor parties, including the Libertarian and Green parties, along with other candidates, collectively garnered a small fraction of the vote, potentially pointing to low influence or voter engagement for these options in this region.
75.82% of voters voted for the Republican party in the 2020 Presidential Election
22.52% of voters voted for the Democrat party in the 2020 Presidential Election
0.56% of voters voted for the Livertarian party in the 2020 Presidential Election
0.19% of voters voted for the Green party in the 2020 Presidential Election
0.93% of voters voted for the Other party in the 2020 Presidential Election
School Data
In Wayne County, Utah, the student-to-teacher ratio has risen since 2019, reaching 15 students per teacher, slightly higher than the national average of 14. This shift may reflect changes in local demographics or school funding, potentially signaling community growth or altered resource allocation. For investors and real estate agents, understanding these nuances is crucial, as they could impact property values and interest from families. Appraisers and insurance agents might also find this... Read more
Student-to-teacher ratio in Wayne County, Utah over the last 6 years
Wayne County, Utah's student-to-teacher ratio has shown an uptick from 2019 onwards, peaking at 15 students per teacher in recent years, slightly above the national average of 14 students per teacher. While having fewer students per teacher could potentially enhance the quality of education, the increase in ratio might suggest changes in local demographics or school funding. For potential investors, this could indicate shifts in community growth or resource allocation, and for real estate agents, highlighting the school district's evolving status might be crucial when attracting families. Appraisers and insurance agents might also find these changes relevant in assessing property values and risks associated with the area.
