Benton County Real Estate and Livability Trends
Benton County, Arkansas has seen significant economic growth, with average taxable incomes soaring from $84,719.48 in 2013 to $190,869.68 in 2021. This economic upswing is mirrored in the real estate market, as median home values jumped from $150,800 in 2015 to $254,000 in 2022, outpacing state and national trends. Higher incomes appear to coincide with increased state and local income taxes,... Read more
Benton County Market Trends
In Benton County, Arkansas, median home values surged from $150,800 in 2015 to $254,000 in 2022, outpacing both state and national trends and suggesting heightened demand and possible robust economic growth. The average residential energy tax credit per tax return skyrocketed from $387.34 in 2013 to $2,504.62 in 2021, indicating a strong commitment to energy efficiency. Real estate taxes nearly... Read more
Median Value of Occupied Housing Units in Benton County, Arkansas Over the Last 8 Years
Over the last eight years, Benton County, Arkansas has seen its median home values rise from $150,800 in 2015 to $254,000 in 2022. This increase significantly outpaces both the state of Arkansas, where values climbed from $111,400 to $162,400, and the national trend, which saw values grow from $125,500 to $179,400. These trends suggest that Benton County could be experiencing heightened demand, making it an area worth considering for property investment or relocation. The consistent and substantial appreciation in home values indicates possible robust economic growth and attractiveness of the region.
Residential Energy Tax Credit Per Tax Return in Benton County, AR Over the Last 9 Years
Benton County, Arkansas has seen a striking rise in the average residential energy tax credit per tax return over the past nine years. Starting at $387.34 in 2013, it leaped to $3,893.75 in 2018 and remained significantly high, hitting $2,504.62 in 2021. This upward trend highlights a growing commitment to energy efficiency and renewable energy investments in the area, making it an attractive destination for eco-conscious investors and homeowners.
Average Real Estate Taxes Per Tax Return in Benton County, AR Over the Last 10 Years
In Benton County, Arkansas, average real estate taxes have consistently risen over the past decade. Starting at $2,133.23 in 2012, the rate increased more sharply in recent years, reaching $4,391.67 by 2021. This trend could reflect growing property values and local government funding needs, making the area potentially more costly for homeowners but possibly more lucrative for investors. Buyers and investors might find these trends significant in weighing financial implications for property ownership in Benton County.
Percentage of Farm Returns in Benton County, AR Over the Last 10 Years
Over the last decade, the percentage of farm tax returns in Benton County, Arkansas has seen a steady decline, falling from 2.13% in 2012 to 1.59% in 2021. Farm tax returns, which are filings made by individuals or entities involved in agricultural production, indicate the economic health and prominence of farming activities in the area. This downturn may reflect a shift away from agriculture, posing potential impacts for local investment and property development. Those looking to invest or move to Benton County should consider this trend as it may influence the economic landscape and future growth opportunities in the region.
Number of Mortgages by Occupancy Type in Benton County, AR Over the Last 5 Years in Benton County
Over the past five years in Benton County, Arkansas, mortgage counts have revealed interesting shifts across different occupancy types. Principal residences continue to dominate the market, with numbers peaking in 2021 but showing a substantial drop in 2022. Investment property mortgages have experienced fluctuations, peaking in 2021 but generally remaining lower than principal residences. Second residences have consistently held the smallest share, also peaking in 2021 but decreasing thereafter. Understanding these shifts is important for investors considering the stability and growth potential of the market, real estate agents gauging demand trends, and insurance agents assessing risk factors. Changes in the types of occupancy could signal shifts in market stability, potential return on investment, or community development patterns, impacting everyone from local residents to major stakeholders.
Economic Outlook
In Benton County, Arkansas, average taxable incomes have surged from $84,719.48 in 2013 to $190,869.68 in 2021, highlighting economic growth and higher-paying job opportunities. Meanwhile, the average state and local income taxes per tax return saw a major jump from $15,850.99 in 2017 to $49,262.08 by 2021, which might imply both rising incomes and possible shifts in tax policies. The average total tax liability also increased, peaking at $36,926.06 in 2021. Additionally, the poverty rate... Read more
Average Taxable Income per Tax Return in Benton County, AR over the last 9 years
The average taxable income per tax return in Benton County, AR, has shown a remarkable increase over the past nine years, rising from $84,719.48 in 2013 to an impressive $190,869.68 in 2021. Key peaks were noted in 2017 and 2020, followed by a significant jump in 2021, suggesting a robust economic environment. This trend can be indicative of both economic growth in the region and an increase in higher-paying jobs, making Benton County an attractive destination for prospective residents seeking vibrant economic opportunities.
Average State and Local Income Taxes Per Tax Return in Benton County, AR Over the Last 10 Years
Over the past decade in Benton County, AR, average state and local income taxes per tax return have shown a significant upward trend, especially post-2016. Notably, there was a sharp increase from $15,850.99 in 2017 to $26,185.52 in 2018, and a dramatic spike to $49,262.08 by 2021. This surge could indicate escalating incomes or changing tax structures, reflecting a potentially thriving local economy but also higher living costs.
Average Total Tax Liability Per Tax Return in Benton County, AR Over the Last 10 Years
Benton County, Arkansas has seen significant fluctuations in average total tax liability per tax return over the past decade. Notable increases occurred in 2017 with $27,688.63 and a peak in 2021 at $36,926.06, suggesting economic prosperity or changes in tax policy. However, there were also dips, such as in 2019 when it dropped to $18,747.59. These trends could indicate a volatile economic environment but also opportunities for investment due to potential growth spurts.
Cost of Living in Benton County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,434 | $1,448 | $1,899 | $1,281 | $1,406 |
| 1 adult 4 children | $1,434 | $1,182 | $1,452 | $1,281 | $1,615 |
| 2 adults 3 children | $1,434 | $1,183 | $1,648 | $1,281 | $1,161 |
| 1 adult 3 children | $1,434 | $966 | $1,201 | $1,281 | $1,364 |
| 2 adults 2 children | $1,009 | $968 | $1,397 | $1,120 | $910 |
| 1 adult 2 children | $1,009 | $723 | $950 | $1,120 | $926 |
| 2 adults 1 child | $1,009 | $765 | $1,146 | $596 | $836 |
| 1 adult 1 child | $1,009 | $494 | $698 | $596 | $729 |
| 2 adults | $829 | $615 | $894 | $0 | $667 |
| 1 adult | $781 | $335 | $447 | $0 | $588 |
Safety trends & Data
Larceny-theft has remained consistently high over the past five years in Benton County, Arkansas, which could be a concern for both investors and residents. Fluctuations in burglary and vandalism incidents might also impact decisions related to property purchases or developments. Notably, motor vehicle theft and fraud have shown stable numbers, which could be intriguing for insurance agents assessing risk. With arson and embezzlement being relatively rare, these crimes are likely less of a... Read more
Property Crime Trends in Benton County, AR Over the Last 5 Years
Larceny-theft has remained consistently high over the past five years in Benton County, Arkansas, making it a potential concern for investors and residents. Burglary and vandalism incidents also show a noticeable presence, though their frequency has fluctuated. Motor vehicle theft and fraud have seen relatively stable numbers, which could be a point of interest for insurance agents. Arson and embezzlement appear much less frequently, suggesting these crimes are less of a priority. Overall, there's a mixed landscape of property crimes that might influence real estate values and insurance costs, with larceny-theft prominently affecting community safety perceptions.
Demographics
Benton County, Arkansas, demonstrates a balanced gender distribution with slightly more females than males. Most adults here have finished high school, but only about a third have a bachelor’s degree or higher. The largest age groups are those under 10 years and those between 25 to 44 years, indicating a young and dynamic population. Racial diversity is somewhat limited; the majority identify as White, with smaller percentages of Black or African American, Asian, and... Read more
Race Distribution in Benton County, Arkansas (2022)
Educational Attainment in Benton County, Arkansas (2022)
Age Distribution in Benton County, Arkansas
Citizen Population in Benton County, Arkansas (2022)
Political Trends & Data
Benton County, Arkansas, possibly leaned heavily Republican in the 2020 U.S. Presidential Election, with Republicans potentially receiving around 61.7% of the vote. Democrats seemed to trail significantly with close to 35.2%, while minor parties like Libertarian and Green barely made a dent, potentially holding around 1.6% and 0.2% respectively. This distribution might indicate a strong conservative preference within the... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Benton County, Arkansas likely leaned heavily Republican in the 2020 U.S. Presidential Election, with Republicans potentially receiving around 61.7% of the vote. Democrats seemed to trail significantly with close to 35.2%, while minor parties like Libertarian and Green barely made a dent, possibly holding around 1.6% and 0.2% respectively. Other parties combined appeared to account for just over 1% of the vote. This distribution might indicate a strong conservative preference within the county.
61.68% of voters voted for the Republican party in the 2020 Presidential Election
35.23% of voters voted for the Democrat party in the 2020 Presidential Election
1.64% of voters voted for the Livertarian party in the 2020 Presidential Election
0.23% of voters voted for the Green party in the 2020 Presidential Election
1.21% of voters voted for the Other party in the 2020 Presidential Election
School Data
In Benton County, Arkansas, the student-to-teacher ratio has largely remained around 15 over the past decade, peaking at 16 in 2019 and dipping to about 15 in 2021, slightly above the national average of 14. For investors or developers, this could highlight a potential demand for educational infrastructure, while real estate agents might leverage this information to attract families. This stability could also indicate consistent educational quality, offering a balance that supports both... Read more
Student-to-teacher ratio in Benton County, Arkansas over the last 10 years
Over the past decade, the student-to-teacher ratio in Benton County, Arkansas has mostly hovered around 15 students per teacher, peaking at 16 in 2019 and reaching a low of about 15 in 2021. Compared to the national average of 14 students per teacher, Benton County is slightly higher. For investors or developers eyeing the area, this could indicate a need for more educational infrastructure. Real estate agents might use this information to appeal to families seeking slightly larger class sizes, while appraisers and insurance agents might see it as a metric for assessing community investments in education. This relatively stable ratio can be a sign of consistent educational quality, striking a balance that supports both individualized attention and resource efficiency.
