Island County Real Estate and Livability Trends
Island County, Washington has seen an extraordinary rise in median home values from $290,900 in 2015 to $480,800 in 2022, surpassing state and national growth rates. Energy-efficient home improvements surged, highlighted by residential energy tax credits averaging $5,220 in 2018. Real estate taxes increased significantly, potentially reflecting higher property valuations. Meanwhile, a notable... Read more
Island County Market Trends
Island County, Washington has seen some remarkable real estate market trends. Between 2015 and 2022, median home values skyrocketed from $290,900 to $480,800, outpacing both statewide and national increases. Average residential energy tax credits peaked at $5,220.00 in 2018, hinting at a surge in energy-efficient home improvements. Real estate taxes also rose significantly, reflecting potentially... Read more
Median Value of Occupied Housing Units in Island County, Washington Over the Last 8 Years
For potential investors or residents eyeing Island County, Washington, the rise in median home values over the past eight years is striking. With the value jumping from $290,900 in 2015 to $480,800 in 2022, the rate of increase outpaces trends seen both statewide and nationally, indicating a hot local market. This increase is more robust compared to Washington State, which saw median values go from $259,500 in 2015 to $473,400 in 2022, and even more so against the national trend, where values climbed from $125,500 to $179,400 in the same period. This could signal solid investment potential and a competitive market for anyone looking to buy property or build in this area.
Residential Energy Tax Credit Per Tax Return in Island County, WA Over the Last 9 Years
Island County, Washington has witnessed a fluctuating yet significant uptrend in the average residential energy tax credit claimed per tax return over the past nine years. While the credit hovered around the $800.00 to $1,300.00 mark from 2013 to 2017, it dramatically spiked to $5,220.00 in 2018, suggesting a possible surge in energy-efficient home improvements or installations during that year. Since then, the credits have somewhat stabilized around the $1,450.00 to $1,670.00 range. This might indicate a growing emphasis on sustainable living and energy-efficient investments among residents.
Average Real Estate Taxes Per Tax Return in Island County, WA Over the Last 10 Years
In Island County, Washington, average real estate taxes per tax return have seen a consistent upward trend over the past decade. Notably, there was a significant jump from $4,192.64 in 2017 to $5,494.88 in 2018, continuing to rise to $6,281.31 by 2021. This increase signifies a growing potential for higher property valuations and could suggest an expanding real estate market, making it an area of interest for investors, appraisers, and real estate agents. Homeowners and prospective buyers might also want to consider these trends when assessing long-term affordability and tax implications.
Percentage of Farm Returns in Island County, WA Over the Last 10 Years
Over the past decade, farm tax returns in Island County, Washington, have generally seen a steady decline, starting at around 0.83% in 2012 and dropping to a low of approximately 0.51% in 2020. The slight uptick to about 0.54% in 2021 suggests a possible stabilization. This trend could be indicative of reduced agricultural activity or a shift in local economies. Investors and developers might find these patterns significant when considering the viability of agricultural ventures or land use planning in the region. For residents and those interested in the area, understanding these trends helps in making informed decisions about property investments and community development.
Number of Mortgages by Occupancy Type in Island County, WA Over the Last 5 Years in Island County
Investors, real estate agents, appraisers, and potential movers might take interest in the notable fluctuation in the number of mortgages by occupancy type in Island County, Washington over the last five years—especially the significant presence of principal residences compared to relatively consistent figures for investment and second properties. The dominance of principal residence mortgages might suggest a stable or growing local population, which could impact market saturation and property values. For investors, the steady number of investment property mortgages indicates a potentially stable rental market with less volatility. Conversely, the slight decline in second residence mortgages might reflect shifting buyer priorities or economic factors influencing discretionary property purchases. Understanding these trends could be crucial for making informed decisions regarding property development, insurance assessments, or real estate market strategies.
Economic Outlook
Island County, Washington has seen its average taxable income per tax return rise from approximately $62,500.63 in 2013 to around $97,702.99 in 2021, suggesting economic growth and a potentially higher standard of living. State and local income taxes per tax return have also climbed, from about $6,968.85 in 2012 to $13,412.50 in 2021, reflecting broader economic changes. The total tax liability per tax return increased from $9,381.23 in 2012 to $15,557.91 in 2021, possibly indicating growing... Read more
Average Taxable Income per Tax Return in Island County, WA over the last 9 years
In Island County, Washington, the average taxable income per tax return has shown a consistent upward trend over the last nine years, starting at approximately $62,500.63 in 2013 and rising to around $97,702.99 in 2021. This substantial increase may be of interest to potential investors, real estate agents, appraisers, and insurance agents as it could indicate economic growth and a higher standard of living in the area. The notable jump in 2021 further underscores a potentially favorable economic environment, warranting attention for property development and other financial decisions.
Average State and Local Income Taxes Per Tax Return in Island County, WA Over the Last 10 Years
In Island County, Washington, average state and local income taxes per tax return have seen a noticeable climb, rising from approximately $6,968.85 in 2012 to around $13,412.50 in 2021. The increase reflects broader economic changes and possibly policy shifts impacting taxpayers. This trend may be of particular interest to those evaluating the financial aspects of living, investing, or working in the county. Tax professionals, real estate agents, and potential homeowners, in particular, might use this data to inform decisions regarding financial planning, property appraisals, and market valuations in the area.
Average Total Tax Liability Per Tax Return in Island County, WA Over the Last 10 Years
Over the past decade, Island County in Washington state has seen a steady rise in average total tax liability per tax return, ranging from $9,381.23 in 2012 to $15,557.91 in 2021. This upward trend might suggest growing incomes and possibly an increasing cost of living, which are key factors for investors, real estate professionals, and homeowners to consider. For property developers and prospective residents, the higher tax liabilities could potentially reflect robust economic activity and increased demand for housing in the county.
Cost of Living in Island County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,956 | $1,782 | $1,738 | $2,105 | $1,569 |
| 1 adult 4 children | $1,956 | $1,455 | $1,346 | $2,105 | $1,739 |
| 2 adults 3 children | $1,956 | $1,455 | $1,500 | $2,105 | $1,324 |
| 1 adult 3 children | $1,956 | $1,188 | $1,108 | $2,105 | $1,502 |
| 2 adults 2 children | $1,376 | $1,191 | $1,261 | $1,854 | $989 |
| 1 adult 2 children | $1,376 | $890 | $869 | $1,854 | $1,055 |
| 2 adults 1 child | $1,376 | $942 | $1,023 | $1,041 | $850 |
| 1 adult 1 child | $1,376 | $608 | $631 | $1,041 | $786 |
| 2 adults | $1,086 | $756 | $784 | $0 | $639 |
| 1 adult | $1,079 | $413 | $392 | $0 | $558 |
Safety trends & Data
Island County, Washington has experienced varied property crime rates over the past five years. The peak in 2018 saw 60 incidents of larceny-theft and 23 burglaries, followed by a dip in 2019. From 2020 onwards, there has been a noticeable resurgence, reaching 29 burglary cases by 2022. These fluctuations could potentially impact property values, insurance costs, and overall community safety, all critical considerations for prospective investors, real estate agents, and future... Read more
Property Crime Trends in Island County, WA Over the Last 5 Years
Over the past five years, Island County, Washington has seen notable fluctuations in property crime rates. The highest numbers were observed in 2018, particularly in larceny-theft (60 incidents) and burglary (23 incidents), with significant declines in these categories the following year. However, a resurgence is evident from 2020 onwards, culminating in 29 burglary cases by 2022. These trends are notable for potential investors, real estate agents, and those considering relocation, suggesting varying crime trends which may impact property values, insurance costs, and community safety.
Demographics
Island County, Washington, reveals a nearly balanced adult gender distribution, hinting at a stable demographic makeup. The educational attainment data suggests a well-educated populace, with a noticeable concentration of residents holding some college education or higher degrees. Age-wise, the county has a significant elderly population, especially between 65 to 74 years, potentially signaling a strong retirement community presence. Race distribution highlights a predominantly White... Read more
Race Distribution in Island County, Washington (2022)
Educational Attainment in Island County, Washington (2022)
Age Distribution in Island County, Washington
Citizen Population in Island County, Washington (2022)
Political Trends & Data
Island County, Washington's real estate market could be influenced by its political climate, which hints at a slight Democratic preference with around 54% of the 2020 presidential vote. Republicans trailed at roughly 42%, and minor parties like the Libertarians and Greens had minimal impact, suggesting a primarily two-party dynamic. This political leaning might shape community investments and local policies, potentially impacting home values and neighborhood... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Island County, Washington's 2020 presidential election results might suggest a slight lean toward the Democratic party, which secured a prominent share of the vote with approximately 54%. Republicans potentially trailed with around 42%, while Libertarians and Greens garnered much smaller percentages, hinting at limited influence. The remaining votes were dispersed among other minor parties, indicating some diversity in voter preference but not enough to challenge the primary two-party dominance.
42.18% of voters voted for the Republican party in the 2020 Presidential Election
54.17% of voters voted for the Democrat party in the 2020 Presidential Election
2.39% of voters voted for the Livertarian party in the 2020 Presidential Election
0.40% of voters voted for the Green party in the 2020 Presidential Election
0.86% of voters voted for the Other party in the 2020 Presidential Election
School Data
The student-to-teacher ratio in Island County, Washington, has fluctuated significantly over the past nine years, peaking at 22 in 2017 and dipping to a low of 14 in 2022. As of 2023, the ratio has slightly increased to 16, still below the national average. This trend could appeal to families seeking more personalized attention for their children, potentially boosting the area's attractiveness and influencing property values. Real estate investors, appraisers, and insurance agents may view... Read more
Student-to-teacher ratio in Island County, Washington over the last 9 years
The student-to-teacher ratio in Island County, Washington has shown considerable variation over the past nine years, peaking at 22 in 2017 and dropping to a low of 14 in 2022. Recent figures indicate a slight increase, with the ratio at 16 as of 2023, which is still under the national average of 14 students per teacher. This fluctuation may impact various stakeholder decisions, including those of potential homebuyers, real estate investors, and educational professionals, as a lower student-to-teacher ratio is often associated with more personalized attention for students, potentially making the area more attractive for families and consequently influencing property values. Appraisers and insurance agents might also see such trends as indicators of evolving community needs and potential growth areas.
