Benton County Real Estate and Livability Trends
Benton County, Washington has shown substantial economic growth, with average taxable income per tax return jumping from $62,136.45 in 2013 to $87,572.80 in 2021. This economic upturn may be a magnet for investors and new residents. Median home values have nearly doubled from $184,200 in 2015 to $338,700 by 2022, although still lower than the state median of $473,400, indicating a potentially... Read more
Benton County Market Trends
In Benton County, Washington, median home values skyrocketed from $184,200 in 2015 to $338,700 by 2022, outpacing the national median rise. Despite still trailing the state median of $473,400, this rapid growth hints at promising investment opportunities. Significant fluctuations in residential energy tax credits, peaking at $6,693.48 in 2018, and a marked increase in real estate taxes—jumping... Read more
Median Value of Occupied Housing Units in Benton County, Washington Over the Last 8 Years
In Benton County, Washington, median home values have surged from $184,200 in 2015 to $338,700 by 2022. This local increase mirrors broader trends but at a sharper rate compared to the national median, which rose from $125,500 to $179,400 over the same period. While home values in Benton County still trail the state median, which reached $473,400 by 2022, investors might find the growing market attractive given its consistent upward trajectory and potential for future appreciation.
Residential Energy Tax Credit Per Tax Return in Benton County, WA Over the Last 9 Years
Benton County, Washington has seen a significant fluctuation in residential energy tax credits per tax return over the last nine years. Notably, 2018 experienced an extremely high average of $6693.48, which could suggest a spike in energy-efficient home improvements or installations during this period. The trend reveals a somewhat erratic pattern with other peaks and troughs, such as $1076.60 in 2015 and $2069.61 in 2019. These varying amounts could reflect changes in local or federal incentives and varying adoption rates of energy-efficient technologies among homeowners. For potential investors, appraisers, and real estate professionals, these fluctuations might indicate underlying economic or policy shifts impacting property values and cost structures.
Average Real Estate Taxes Per Tax Return in Benton County, WA Over the Last 10 Years
Benton County, Washington has seen a marked increase in average real estate taxes per tax return over the past decade. Starting from an approximate $2,816.26 in 2012, the average tax amount rose significantly, peaking around $4,777.44 by 2021. Notable surges occurred in 2018 and 2020, suggesting possible periods of heightened property value reassessments or increased municipal funding needs. These trends are likely of interest to prospective homeowners, investors, and real estate professionals considering the area's long-term fiscal trends and market stability.
Percentage of Farm Returns in Benton County, WA Over the Last 10 Years
Over the past decade, Benton County, Washington has seen a gradual decline in the percentage of farm tax returns. Starting at 1.39% in 2012, the figure dipped to 0.92% by 2021. Year-over-year data suggests a steady decrease, indicating potential shifts in the agricultural sector or economic trends affecting local farmers. These statistics on farm tax returns can be a gauge of the health and viability of agricultural operations in the county, essential for anyone evaluating investment opportunities, considering relocation, or planning property development in the area. Such trends can reflect broader economic shifts or specific challenges in the agri-business landscape.
Number of Mortgages by Occupancy Type in Benton County, WA Over the Last 5 Years in Benton County
Over the last five years, Benton County, Washington has seen varying trends in the number of mortgages based on occupancy type. Principal Residence mortgages have consistently led the market, peaking in 2020 with 18,800 mortgages, while the numbers for Investment Properties and Second Residences have shown a relatively smaller impact, with figures like 1,023 for Investment Properties in 2021 and 163 for Second Residences in 2020 and 2021. Such shifts in occupancy types can have ripple effects on investment opportunities, lending practices, and property values, indicating market stability and growth patterns essential for real estate decisions. They also hint at broader socioeconomic trends, influencing everything from insurance risk calculations to urban development strategy. Potential investors, property developers, and local stakeholders might find these insights particularly valuable for understanding market dynamics and predicting future real estate trajectories.
Economic Outlook
Benton County, Washington has seen average taxable income per tax return rise significantly from $62,136.45 in 2013 to $87,572.80 in 2021, suggesting a strengthening local economy. State and local income taxes also climbed from $7,076.22 in 2012 to $10,566.20 in 2021, with sharp increases in 2019 and 2020. This could indicate increased economic activity or policy changes, affecting cost of living assessments. The average total tax liability rose from $10,461.19 in 2012 to $13,952.99 in 2021,... Read more
Average Taxable Income per Tax Return in Benton County, WA over the last 9 years
Benton County, Washington has seen a notable increase in average taxable income per tax return over the past nine years. Starting at approximately $62,136.45 in 2013, there's been an upward trajectory, peaking at about $87,572.80 in 2021. This growth trend may indicate a strengthening local economy, potentially making Benton County an appealing location for investors, real estate developers, and those looking to move to a financially thriving area. Homebuyers and insurance agents might particularly benefit from keeping an eye on this trend as it suggests an overall enhancement in residents' earning power.
Average State and Local Income Taxes Per Tax Return in Benton County, WA Over the Last 10 Years
Benton County, Washington has experienced a noticeable increase in average state and local income taxes per tax return over the past decade. Starting at approximately $7,076.22 in 2012, the figure saw fluctuations but overall climbed steadily. By 2021, the value had reached around $10,566.20. Particularly striking are the sharp rises in 2019 and 2020, with figures jumping to roughly $10,510.96 and $14,257.35, respectively. This trend may imply growing economic activity or changes in tax policies, which are crucial considerations for investors, real estate professionals, and potential residents assessing the cost of living.
Average Total Tax Liability Per Tax Return in Benton County, WA Over the Last 10 Years
The average total tax liability per tax return in Benton County, Washington has shown a general upward trend over the past decade, with a notable increase from $10,461.19 in 2012 to $13,952.99 in 2021. This trajectory suggests rising economic activity and possibly growing individual incomes in the region. Such insights might be particularly interesting for investors and real estate agents, indicating a potentially affluent and evolving market. For appraisers and insurance agents, this upward movement in tax liabilities could reflect higher property valuations and the need for updated financial assessments.
Cost of Living in Benton County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,624 | $1,568 | $1,535 | $1,525 | $1,058 |
| 1 adult 4 children | $1,624 | $1,281 | $1,185 | $1,525 | $1,201 |
| 2 adults 3 children | $1,624 | $1,281 | $1,327 | $1,525 | $860 |
| 1 adult 3 children | $1,624 | $1,046 | $976 | $1,525 | $992 |
| 2 adults 2 children | $1,227 | $1,049 | $1,118 | $1,361 | $712 |
| 1 adult 2 children | $1,227 | $783 | $768 | $1,361 | $713 |
| 2 adults 1 child | $1,227 | $829 | $910 | $828 | $697 |
| 1 adult 1 child | $1,227 | $535 | $559 | $828 | $608 |
| 2 adults | $987 | $666 | $701 | $0 | $559 |
| 1 adult | $838 | $363 | $350 | $0 | $463 |
Safety trends & Data
Benton County, Washington, has experienced various changes in property crime over the past five years. Larceny-theft remains the most common crime, though it dropped significantly from 1065.00 incidents in 2018 to 454.00 in 2022, suggesting a downward shift. Burglary cases also decreased from 142.00 in 2018 to 95.00 in 2022, while vandalism saw irregular patterns and a significant peak in 2020 at 278.00 incidents. Meanwhile, motor vehicle theft has been gradually rising, reaching 29.00... Read more
Property Crime Trends in Benton County, WA Over the Last 5 Years
Benton County, Washington, has seen noticeable fluctuations in property crime over the past five years. Larceny-theft consistently remains the most prevalent crime, peaking at 1065.00 incidents in 2018 and dropping to 454.00 in 2022, indicating a possible downward trend. Burglary and vandalism also display significant changes, with burglary declining from 142.00 incidents in 2018 to 95.00 in 2022, and vandalism showing irregular patterns with a temporary spike in 2020 at 278.00 incidents. Interestingly, motor vehicle theft shows a gradual increase, reaching 29.00 incidents by 2022. Potential investors, appraisers, real estate agents, and residents should consider these crime trends when evaluating the area's safety and property values.
Demographics
Benton County, Washington, reveals interesting demographic trends that might suggest broader social patterns. The adult population tends to be almost evenly split between males and females. Education-wise, there's a notable concentration of residents with high school diplomas, some college, and bachelor's degrees, which might imply a relatively educated community overall. Age distribution highlights a significant proportion of residents in the under-10 and 25-to-34 age groups, which could... Read more
Race Distribution in Benton County, Washington (2022)
Educational Attainment in Benton County, Washington (2022)
Age Distribution in Benton County, Washington
Citizen Population in Benton County, Washington (2022)
Political Trends & Data
Benton County, Washington, leans towards the Republican Party based on 2020 U.S. Presidential election results, but Democrats also maintain a significant presence, indicating a competitive political environment. Libertarians and other minor parties, including the Green Party, captured a small share of the vote, suggesting a diversity of political opinions among... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Benton County, Washington, the 2020 U.S. Presidential Election saw a notable lean towards the Republican Party, potentially making it a stronghold in the region. Democrats still managed to secure a significant portion of the vote, suggesting a competitive political landscape. Libertarians and other minor parties, including the Green Party, garnered a small but relevant share, hinting at diverse political views among the electorate.
58.59% of voters voted for the Republican party in the 2020 Presidential Election
37.57% of voters voted for the Democrat party in the 2020 Presidential Election
2.63% of voters voted for the Livertarian party in the 2020 Presidential Election
0.34% of voters voted for the Green party in the 2020 Presidential Election
0.88% of voters voted for the Other party in the 2020 Presidential Election
School Data
In Benton County, Washington, the student-to-teacher ratio has typically exceeded the national average of 14, though it generally trended downward from a high of nearly 20 in 2015 to around 18 in 2023. This could imply larger class sizes, potentially affecting individualized student attention. For investors and potential residents, this metric might be significant when evaluating the area's educational quality. Additionally, property appraisers and insurance agents may find these statistics... Read more
Student-to-teacher ratio in Benton County, Washington over the last 9 years
The student-to-teacher ratio in Benton County, Washington has mostly been higher than the national average of fourteen over the past nine years, though it has generally shown a downward trend from 2015's peak of nearly twenty to 2023's ratio of around eighteen. This higher ratio might suggest larger class sizes, which could impact individualized attention for students. For potential investors, real estate agents, and anyone considering moving to the area, this ratio may be worth considering alongside other educational quality metrics. Appraisers and insurance agents might also find these educational statistics useful when assessing property values and insurance risk, respectively.
