Hot Springs County Real Estate and Livability Trends
Hot Springs County, Wyoming, has experienced notable shifts in its real estate market. Median home values rose from $151,600 in 2015 to $191,200 in 2022, although this increase still trails the statewide surge to $269,900. Mortgage trends reveal a spike in demand for principal residences in 2020, likely influenced by the pandemic, while interest in investment property mortgages has cooled. Real... Read more
Hot Springs County Market Trends
Hot Springs County, Wyoming, has experienced noticeable shifts in its real estate market over recent years. Median home values increased from $151,600 in 2015 to $191,200 in 2022, which, while significant, lag behind the statewide surge to $269,900. Real estate taxes have shown an upward trend, peaking at around $3,025.00 in 2020, reflecting changing property valuations. Farm tax returns have... Read more
Median Value of Occupied Housing Units in Hot Springs County, Wyoming Over the Last 8 Years
Hot Springs County, Wyoming, saw considerable fluctuations in median home values, moving from $151,600 in 2015 to $191,200 in 2022. While this local increase is significant, it's overshadowed by the statewide surge where median home values climbed to $269,900 in Wyoming over the same period. Nationally, values also trended upward but more modestly, reaching $179,400 in 2022. This suggests that Hot Springs County, while seeing growth, lagged behind the robust state-level appreciation, potentially indicating an opportunity for more affordable investment relative to other Wyoming areas.
Residential Energy Tax Credit Per Tax Return in Hot Springs County, WY Over the Last 4 Years
Over the past four years, Hot Springs County, Wyoming, has seen fluctuating values in average residential energy tax credits per tax return. In 2013 and 2015, residents received approximately $200.00 in credits, while 2014 saw a slight increase to $233.33. The most noteworthy change occurred in 2016, with a substantial rise to $300.00. These varying credits may imply changes in energy efficiency investments or available incentives, crucial data points for investors, real estate agents, appraisers, and those considering moving or building in the area.
Average Real Estate Taxes Per Tax Return in Hot Springs County, WY Over the Last 10 Years
Over the last decade, average real estate taxes per tax return in Hot Springs County, Wyoming have generally increased, especially with a noticeable jump around 2018 and another peak in 2020 at approximately $3,025.00. This upward trend could be significant for potential investors, homebuyers, and real estate professionals as it reflects changing property valuations and possible shifts in the local economic environment. Prospective homebuilders and appraisers might find the variations insightful for assessing future financial commitments in this region.
Percentage of Farm Returns in Hot Springs County, WY Over the Last 10 Years
Farm tax returns in Hot Springs County, Wyoming have shown gradual yet noticeable growth over the past decade, starting at 5.16% in 2012 and reaching around 6.62% by 2021. This slow but steady increase suggests potential for ongoing agricultural development and might indicate a strengthening agricultural economy. For investors and property builders, this trend could mean promising opportunities in agribusiness, while residents and those interested in moving to the area might appreciate the county's growing agricultural foundation.
Number of Mortgages by Occupancy Type in Hot Springs County, WY Over the Last 5 Years in Hot Springs County
The mortgage trends in Hot Springs County, Wyoming indicate shifting dynamics in property investments over the past five years. The demand for principal residences significantly spiked in 2020, reaching 250 mortgages from 137 in 2019, likely reflecting increased interest in homeownership possibly driven by the pandemic. Investment property mortgages, however, saw a gradual decline from 16 in 2018 and 2019 to just 9 in 2021, suggesting a potential cooling in the local rental market. Second residences maintained relatively low yet steady interest, with their highest at 17 mortgages in 2020. For investors and real estate agents, these trends can offer insights into residential stability and market opportunities in the county. Moreover, insurance agents and appraisers may find shifts in occupancy types essential for risk assessments and property valuations.
Economic Outlook
In Hot Springs County, Wyoming, the average taxable income per tax return has varied widely, climbing from $44,331.39 in 2016 to $60,278.34 in 2021, hinting at a healthier local economy and better earning opportunities. State and local income taxes also show significant variability, peaking at $3,583.33 in 2012 and dropping to $2,500.00 by 2015 before rising again to $3,300.00 in 2017, suggesting an unpredictable tax environment. Additionally, total tax liability per tax return has fluctuated... Read more
Average Taxable Income per Tax Return in Hot Springs County, WY over the last 9 years
In Hot Springs County, Wyoming, the average taxable income per tax return has shown considerable variability over the past nine years. From a low of $44,331.39 in 2016 to a peak of $60,278.34 in 2021, there's been a general trend toward higher incomes, suggesting a potential upturn in the local economy. This trend may be indicative of better earning opportunities, which could attract potential investors, homeowners, and real estate agents looking to capitalize on an upward economic trajectory. For appraisers and insurance agents, understanding these fluctuations is crucial when assessing property values and risk.
Average State and Local Income Taxes Per Tax Return in Hot Springs County, WY Over the Last 6 Years
Hot Springs County, Wyoming has experienced fluctuations in average state and local income taxes per tax return over the past six years, with a significant peak at $3,583.33 in 2012 dropping to $2,500.00 by 2015, before rising again to $3,300.00 in 2017. These variations might be relevant to potential investors, real estate agents, and appraisers as they suggest a somewhat unpredictable tax environment, potentially impacting property valuations and investment returns.
Average Total Tax Liability Per Tax Return in Hot Springs County, WY Over the Last 10 Years
In Hot Springs County, Wyoming, over the past decade, there has been notable fluctuation in the average total tax liability per tax return, with amounts ranging from around $6,424.84 to $9,048.52. This variability could reflect broader economic conditions and changes in property valuation or income levels in the area. Investors, prospective homeowners, and real estate professionals need to carefully consider these trends, as they might influence property appraisals, insurance considerations, and overall investment decisions in the county.
Cost of Living in Hot Springs County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,132 | $1,492 | $2,879 | $1,248 | $1,210 |
| 1 adult 4 children | $1,132 | $1,218 | $2,228 | $1,248 | $1,271 |
| 2 adults 3 children | $1,132 | $1,219 | $2,485 | $1,248 | $941 |
| 1 adult 3 children | $1,132 | $995 | $1,834 | $1,248 | $996 |
| 2 adults 2 children | $843 | $998 | $2,091 | $1,084 | $766 |
| 1 adult 2 children | $843 | $745 | $1,440 | $1,084 | $702 |
| 2 adults 1 child | $843 | $789 | $1,698 | $553 | $711 |
| 1 adult 1 child | $843 | $509 | $1,046 | $553 | $558 |
| 2 adults | $640 | $633 | $1,304 | $0 | $597 |
| 1 adult | $636 | $346 | $652 | $0 | $472 |
Safety trends & Data
Hot Springs County, Wyoming's property crime trends have varied over the past five years. Larceny-theft is notably the most frequent crime, peaking at 10 instances in 2018, 2020, and 2022. Burglaries spiked in 2020 but are generally rare, while vandalism hit its highest at 8 cases in 2018, tapered off, then slightly increased in 2022. Motor vehicle theft has been declining since its peak in 2018. These fluctuating crime trends could be a critical factor for investors, residents, and real estate... Read more
Property Crime Trends in Hot Springs County, WY Over the Last 5 Years
Hot Springs County, Wyoming has experienced fluctuating property crime trends over the past five years. Larceny-Theft consistently remains the most prevalent crime, peaking at 10 instances in multiple years such as 2018, 2020, and 2022. Burglaries surged in 2020 but otherwise appear relatively infrequent. Vandalism also saw varied activity, notably peaking at 8 cases in 2018, then tapering off before a slight uptick in 2022. Motor vehicle theft has shown a gradual decline since its peak in 2018. These shifts are essential for prospective investors, residents, and real estate professionals to gauge community safety and property value trends.
Demographics
In Hot Springs County, Wyoming, the adult population is almost evenly split between males and females. Educational attainment shows a strong leaning towards high school graduates, with a notable portion having some college education but no degree. Age-wise, there's a substantial number of residents aged 65 to 74, hinting at a relatively older population. Racially, it's predominantly white, with minimal representation from other racial groups. These trends may indicate potential market... Read more
Race Distribution in Hot Springs County, Wyoming (2022)
Educational Attainment in Hot Springs County, Wyoming (2022)
Age Distribution in Hot Springs County, Wyoming
Citizen Population in Hot Springs County, Wyoming (2022)
Political Trends & Data
The 2020 U.S. Presidential Election in Hot Springs County, Wyoming, saw Republicans likely securing over 77% of the votes, showcasing the county's strong conservative leanings. Democrats trailed notably, which might reveal limited local support for liberal policies. This predominantly two-party dynamic hints at minimal traction for Libertarians and other... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Hot Springs County, Wyoming, the 2020 U.S. Presidential Election saw a notable predominance of Republican votes, potentially highlighting the county's strong conservative leanings. With Republicans possibly capturing over 77% of the votes, Democrats trailed significantly, which might indicate limited support for liberal policies. Libertarians and other parties appeared to garner minimal traction, suggesting a largely two-party dynamic with a pronounced tilt towards GOP preferences.
77.24% of voters voted for the Republican party in the 2020 Presidential Election
18.62% of voters voted for the Democrat party in the 2020 Presidential Election
2.36% of voters voted for the Livertarian party in the 2020 Presidential Election
1.78% of voters voted for the Other party in the 2020 Presidential Election
School Data
In Hot Springs County, Wyoming, the student-to-teacher ratio has remained consistently below the national average over the past decade, peaking at 12 students per teacher in 2018 and recently at 11 in 2023. Investors and developers might find these lower ratios appealing, indicating smaller class sizes and potentially more individualized attention for students. Real estate agents and families might see this as a positive indicator of a community committed to education, potentially enhancing... Read more
Student-to-teacher ratio in Hot Springs County, Wyoming over the last 10 years
In Hot Springs County, Wyoming, the student-to-teacher ratio has shown fluctuations over the past decade, with a notable peak in 2018 at 12 students per teacher, and recently reaching 11 in 2023. Throughout this period, the ratio often remained below the national average of 14 students per teacher. Investors and developers might find the consistently lower ratios appealing, suggesting smaller class sizes and potentially more individualized attention for students. Real estate agents and families looking to move might view these trends favorably, as they can indicate a community focused on education. For appraisers and insurance agents, understanding local education metrics could indirectly impact property values and policy structures.
