Union County Real Estate and Livability Trends
Union County, Arkansas has experienced a notable increase in median home values, jumping from $74,600 in 2015 to $110,900 in 2022, outpacing both state and national rates. This local economic strengthening could attract investors and developers, especially given the related spike in taxable income and lower overall tax burdens. However, the rise in real estate taxes and property crime trends,... Read more
Union County Market Trends
Union County, Arkansas has seen its median home value jump from $74,600 in 2015 to $110,900 in 2022, outpacing state and national growth rates. This suggests emerging opportunities for both investors and homebuyers. Residential energy tax credits per tax return have shown substantial volatility, peaking at $1,427.59 in 2021, indicating potential for energy-efficient investments. Real estate taxes... Read more
Median Value of Occupied Housing Units in Union County, Arkansas Over the Last 8 Years
Over the past eight years, the median home value in Union County, Arkansas has grown from $74,600 in 2015 to $110,900 in 2022. This rapid upswing is especially compelling when compared to the state and national trends. Arkansas' median value increased from $111,400 in 2015 to $162,400 in 2022, while the national median value rose from $125,500 to $179,400 over the same period. Despite lagging behind the broader market for several years, Union County's housing market saw significant growth, suggesting new opportunities for investors and homebuyers looking for emerging markets within the state.
Residential Energy Tax Credit Per Tax Return in Union County, AR Over the Last 9 Years
Union County, Arkansas has seen significant fluctuations in residential energy tax credits per tax return over the last nine years. After steady increases from $278.26 in 2013 to $480.00 in 2017, there was a substantial surge to $1,414.29 in 2018. Though it dropped to $857.14 in 2019, it rebounded to $937.50 in 2020 and peaked at $1,427.59 in 2021. These trends suggest a growing emphasis on energy-efficient investments, implying potential for substantial returns in residential energy improvements for homeowners and investors.
Average Real Estate Taxes Per Tax Return in Union County, AR Over the Last 10 Years
Over the last decade, Union County, Arkansas has seen a noticeable increase in average real estate taxes per tax return, rising from around $1,462.79 in 2012 to $3,252.94 in 2021. This significant upward trend, especially the sharp increases from 2017 to 2020, suggests growing property values or adjustments in tax rates. Potential investors and property developers may view this as an indicator of a strengthening market, while current residents might be concerned about the rising costs of home ownership.
Percentage of Farm Returns in Union County, AR Over the Last 10 Years
Over the last decade, the percentage of farm tax returns in Union County, Arkansas has hovered around the 1.60%-1.95% range. There's a slight downward shift from 2012's peak at roughly 1.96% to a low around 1.62% in both 2015 and 2019. Farm tax returns indicate the number of filed tax returns reporting farm income, a useful gauge of agricultural activity in the area. This data can be key for potential investors and residents assessing the agriculture sector's viability and growth, reflecting stable yet minimal fluctuations in Union County’s farm-related economic health.
Number of Mortgages by Occupancy Type in Union County, AR Over the Last 5 Years in Union County
Over the last five years, Union County, Arkansas, has seen a noticeable increase in primary residence mortgages, peaking in 2021 with a slight decline in 2022. Investment property mortgages have remained relatively stable but are outnumbered by primary residences. Second residences saw minor fluctuations. These trends can influence property values, risk assessments for insurers, and guide realtors and developers in understanding market demands and potential opportunities. A growing number of principal residence buyers suggests a stable local population, appealing for new residential projects or community investments.
Economic Outlook
Union County, Arkansas has witnessed a generally positive trend in average taxable income per tax return, climbing from $56,147.69 in 2013 to $66,067.55 in 2021. This suggests a strengthening local economy that might attract investors and developers. The county also saw notable spikes in state and local income taxes, with a jump from $8,838.74 to $14,868.82 between 2017 and 2018, reflecting changing economic conditions or fiscal policies. Meanwhile, the average total tax liability has shown a... Read more
Average Taxable Income per Tax Return in Union County, AR over the last 9 years
Union County, AR has seen a generally positive trend in average taxable income per tax return over the past nine years, with figures rising from $56,147.69 in 2013 to $66,067.55 in 2021. Notable increases occurred in 2014 and 2018, and the most significant jump was in 2021. This indicates a strengthening local economy which could be attractive to investors, potential home buyers, and developers looking for promising areas to build in.
Average State and Local Income Taxes Per Tax Return in Union County, AR Over the Last 10 Years
Over the last decade, Union County, AR has seen significant fluctuations in its average state and local income taxes per tax return, reaching as high as $16,748.65 in 2020. A notable spike occurred from 2017 to 2018, with taxes jumping from $8,838.74 to $14,868.82, suggesting a marked change in local fiscal policies or economic conditions. Such volatility can impact financial planning for both current residents and potential new movers, foregrounding the importance of understanding the local tax landscape.
Average Total Tax Liability Per Tax Return in Union County, AR Over the Last 10 Years
Union County, Arkansas has experienced fluctuations in average total tax liability per tax return over the last decade, starting from $11,843.60 in 2012 and dropping to $9,817.40 in 2020. Despite these ups and downs, there’s a clear downtrend overall, reflecting potential shifts in economic factors or tax policy changes that could affect disposable income and investment opportunities. This declining tax liability could be appealing for new residents or investors seeking lower tax burdens.
Cost of Living in Union County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,068 | $1,347 | $1,862 | $966 | $1,033 |
| 1 adult 4 children | $1,068 | $1,100 | $1,425 | $966 | $1,177 |
| 2 adults 3 children | $1,068 | $1,101 | $1,616 | $966 | $814 |
| 1 adult 3 children | $1,068 | $898 | $1,178 | $966 | $885 |
| 2 adults 2 children | $764 | $901 | $1,369 | $839 | $685 |
| 1 adult 2 children | $764 | $673 | $931 | $839 | $636 |
| 2 adults 1 child | $764 | $712 | $1,122 | $426 | $653 |
| 1 adult 1 child | $764 | $460 | $684 | $426 | $569 |
| 2 adults | $642 | $572 | $875 | $0 | $575 |
| 1 adult | $638 | $312 | $438 | $0 | $529 |
Safety trends & Data
Union County, Arkansas has seen fluctuating property crime trends over the past five years. Burglary peaked at 58.0 in 2020, while larceny-theft hovered around 100.0 before dropping to 75.0 in 2022. Notably, vandalism incidents surged from 9.0 in 2021 to 41.0 in 2022. These shifts could be significant for potential investors, property developers, and insurers as they assess risk and property valuations in the... Read more
Property Crime Trends in Union County, AR Over the Last 5 Years
Union County, Arkansas has experienced fluctuating trends in property crimes over the past five years. While arson and motor vehicle theft incidents have remained relatively low, burglary and larceny-theft rates have shown some variability, with a notable peak in burglary in 2020 at 58.0 and larceny-theft consistently hovering around the 100.0 mark before dropping to 75.0 in 2022. Vandalism saw a significant jump from 9.0 incidents in 2021 to 41.0 in 2022. These shifts are crucial for potential investors, property developers, and insurers to consider when assessing risk and valuation in the area.
Demographics
Union County, Arkansas exhibits a nearly even gender split with a slight female majority, which could subtly influence local policies and economic needs. The educational attainment data suggests that the majority of adults hold at least a high school diploma, indicating potential for a semi-skilled workforce, with a notable portion having some college experience or higher degrees. Age distribution reveals a balanced mix across different age brackets, with significant representation in both the... Read more
Race Distribution in Union County, Arkansas (2022)
Educational Attainment in Union County, Arkansas (2022)
Age Distribution in Union County, Arkansas
Citizen Population in Union County, Arkansas (2022)
Political Trends & Data
Union County, Arkansas, seems to lean Republican, with around 63% of votes potentially going to the GOP. Democrats might fare much lower at about 34%, and minor parties, including Libertarians and Greens, as well as other affiliations, might barely break just over 3%. This conservative tilt could be indicative of wider trends within the state or region, highlighting a predominantly conservative voter... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Union County in Arkansas suggests a Republican preference, with roughly 63% of the votes possibly favoring the GOP. Democrats may trail significantly with around 34%, while smaller parties like the Libertarians and Greens, as well as other affiliations combined, might barely make a dent, potentially totaling just over 3%. This distribution could reflect broader state or regional trends and hints at a predominantly conservative electorate.
63.09% of voters voted for the Republican party in the 2020 Presidential Election
33.62% of voters voted for the Democrat party in the 2020 Presidential Election
1.10% of voters voted for the Livertarian party in the 2020 Presidential Election
0.22% of voters voted for the Green party in the 2020 Presidential Election
1.97% of voters voted for the Other party in the 2020 Presidential Election
School Data
Union County, Arkansas saw a significant spike in its student-to-teacher ratio in 2015, reaching nearly 25 students per teacher, compared to the national average of 14. However, the ratio has since stabilized, averaging around 13 students per teacher. These shifts could signal variability in educational resources, potentially impacting property values and desirability. These trends might be useful for risk assessments, valuations, and could indicate future educational infrastructure... Read more
Student-to-teacher ratio in Union County, Arkansas over the last 10 years
Union County, Arkansas experienced a significant spike in its student-to-teacher ratio in 2015, reaching nearly 25 students per teacher, which starkly contrasts with the national average of fourteen. However, in subsequent years, the ratio stabilized, averaging around thirteen students per teacher, which closely aligns with the national norm. For real estate agents, investors, and potential movers, these fluctuations might suggest variability in educational resources, which could influence property values and desirability. Appraisers and insurance agents might also find these trends useful for risk assessments and valuations, while those building property may view it as indicative of future educational infrastructure needs.
