Morgan County Market Trends
Median Value of Occupied Housing Units in Morgan County, Colorado Over the Last 8 Years
Morgan County, Colorado has experienced a surge in median home values over the past eight years, jumping from $145,500 in 2015 to $277,400 in 2022. This upward trajectory significantly outpaces the national figures, where median home values rose from $125,500 to $179,400 during the same period. While the rise in home values in Morgan County is remarkable, it still trails behind the state of Colorado, where median values escalated from $247,800 to $465,900. These trends may make Morgan County an attractive option for those looking to invest in or move to a region within Colorado that has been appreciating but still offers more reasonable entry points compared to the state overall.
Residential Energy Tax Credit Per Tax Return in Morgan County, CO Over the Last 8 Years
Morgan County, Colorado has seen significant growth in the residential energy tax credit per tax return over the past eight years. Starting at $342.11 in 2013, it dipped to $250.00 in 2014 but then generally increased each year. By 2021, the average credit had skyrocketed to $1,641.67. This trend highlights the county’s increasing investment in energy-efficient properties, making it an attractive option for eco-conscious investors and homeowners looking to capitalize on these incentives.
Average Real Estate Taxes Per Tax Return in Morgan County, CO Over the Last 10 Years
Morgan County, Colorado has seen a steady increase in average real estate taxes over the past decade, with figures rising from $1,269.44 in 2012 to $2,380.43 in 2021. For potential investors or homebuyers, this trend could signal an appreciating real estate market, suggesting potential for increased property values. However, it also indicates escalating costs for property owners, which is important for budgeting purposes and assessing long-term financial commitments. This tax trend can influence decisions related to purchasing, developing, or holding property in the county.
Percentage of Farm Returns in Morgan County, CO Over the Last 10 Years
In Morgan County, Colorado, the percentage of farm tax returns has seen a gradual decline over the last decade, dropping from 5.72% in 2012 to about 4.23% in 2021. While the dip isn't dramatic, it does suggest a modest shift in the local economic landscape, possibly indicating either a reduction in the number of smaller farming operations or a transition to larger agribusiness models. Understanding farm tax returns, which are part of income reporting from agricultural activities, can offer insights into the health and trends of the farming sector. Investors, developers, or those considering relocation can use this data to gauge the economic vitality and evolving nature of the agriculture industry in Morgan County.
Number of Mortgages by Occupancy Type in Morgan County, CO Over the Last 5 Years in Morgan County
In Morgan County, Colorado, the number of mortgages for Principal Residences saw a notable increase peaking in 2021, while Second Residences and Investment Properties remained relatively stable, though minor fluctuations were observed. These trends in occupancy types might signal a burgeoning demand for primary homes, potentially influencing market strategies for investors, real estate agents, and developers. For insurers and appraisers, the dominance of primary residence mortgages could imply a lower risk profile due to more stable occupancies. Additionally, this pattern could be telling for those considering relocation or investment, pointing towards a community primarily composed of permanent homeowners rather than transient or secondary home dwellers.
Economic Outlook
Average Taxable Income per Tax Return in Morgan County, CO over the last 9 years
Over the past nine years, Morgan County, CO has shown a steady growth in average taxable income per tax return, increasing from $46,939.06 in 2013 to $61,592.42 in 2021. This upward trend highlights a progressively stronger local economy, which is appealing for investors and individuals looking to move or build property in the area due to the potential for higher earnings and a viable market.
Average State and Local Income Taxes Per Tax Return in Morgan County, CO Over the Last 10 Years
Over the past decade, Morgan County, CO has seen a significant upward trend in state and local income taxes per tax return, rising from $4,247.50 in 2012 to $7,004.00 in 2021. Notable increases occurred in the years 2018 and 2019, corresponding to $5,719.23 and $6,178.18 respectively, indicating a robust upward momentum. These rising tax figures could reflect broader economic changes, including increased income levels or changes in tax rates, which are crucial considerations for prospective residents and current inhabitants when evaluating the financial landscape of the area.
Average Total Tax Liability Per Tax Return in Morgan County, CO Over the Last 10 Years
Morgan County, Colorado has seen a fluctuating trend in its average total tax liability per tax return over the past decade, with figures ranging from $7,071.27 to a high of $8,280.31 in 2021. This variability might reflect changes in local economic conditions, tax policies, or demographic shifts. The notable peak in 2021 suggests either increased earnings or amendments impacting the tax landscape. Understanding these dynamics is crucial for potential investors and residents, as they provide insight into the financial health and taxation environment of the county.
Cost of Living in Morgan County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,443 | $1,355 | $2,013 | $1,702 | $1,501 |
| 1 adult 4 children | $1,443 | $1,107 | $1,559 | $1,702 | $1,653 |
| 2 adults 3 children | $1,443 | $1,107 | $1,737 | $1,702 | $1,261 |
| 1 adult 3 children | $1,443 | $904 | $1,283 | $1,702 | $1,397 |
| 2 adults 2 children | $1,078 | $906 | $1,461 | $1,493 | $998 |
| 1 adult 2 children | $1,078 | $677 | $1,007 | $1,493 | $1,023 |
| 2 adults 1 child | $1,078 | $716 | $1,185 | $813 | $880 |
| 1 adult 1 child | $1,078 | $463 | $731 | $813 | $746 |
| 2 adults | $819 | $575 | $909 | $0 | $627 |
| 1 adult | $736 | $314 | $455 | $0 | $546 |
Safety trends & Data
Property Crime Trends in Morgan County, CO Over the Last 5 Years
Investors and homeowners in Morgan County, Colorado, should note that property crime trends over the last five years show some fluctuations in various categories. Larceny-theft consistently remains the predominant crime, though its numbers have decreased from 87.0 incidents in 2018 to 52.0 in 2022. Burglary incidents saw an increase, peaking in 2022 with 14.0 incidents, up from just 5.0 in 2021. Motor vehicle thefts have varied, reaching a high of 12.0 in 2020 but settling at 5.0 in 2022. Vandalism incidents have also shown some variability but remain relatively high. This nuanced understanding of property crime trends can aid in making more informed decisions for those looking to invest, live, or work in Morgan County.
Demographics
Morgan County, Colorado's adult population is fairly balanced between males and females, with a slightly higher number of males. The educational attainment levels indicate a significant portion of adults have completed high school or have some college experience, but relatively few hold advanced degrees. Age distribution suggests a younger population, with the largest age groups under 34 years old. The racial composition primarily consists of White residents, but there is a noticeable... Read more
Race Distribution in Morgan County, Colorado (2022)
Educational Attainment in Morgan County, Colorado (2022)
Age Distribution in Morgan County, Colorado
Citizen Population in Morgan County, Colorado (2022)
Political Trends & Data
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Morgan County, Colorado, showed a significant leaning towards the Republican party in the 2020 U.S. Presidential Election, capturing roughly 70% of the vote. Democrats trailed behind with about 28%, while minor parties like the Libertarians and Greens received just over 1% combined. This distribution of votes might reflect a strong conservative presence or possibly a lack of competitive campaigning from other parties.
69.80% of voters voted for the Republican party in the 2020 Presidential Election
28.20% 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
0.19% of voters voted for the Green party in the 2020 Presidential Election
0.71% of voters voted for the Other party in the 2020 Presidential Election
School Data
Student-to-teacher ratio in Morgan County, Colorado over the last 10 years
The student-to-teacher ratio in Morgan County, Colorado has fluctuated over the past decade, ranging between 14 and 16 students per teacher. Notably, 2020 saw the lowest ratio at approximately 14, compared to other years where the ratio hovered above 15. This trend might matter to potential investors, new residents, and real estate professionals because a higher student-to-teacher ratio often indicates larger class sizes, which can affect the overall quality of education. Interestingly, the county's ratio generally exceeds the current U.S. national average of 14 students per teacher, which could influence family decisions on moving to the area or impact appraisals for properties near schools. Insurance agents and property developers may also find this data relevant for assessing community services and educational infrastructure.
