Otero County Market Trends
Median Value of Occupied Housing Units in Otero County, Colorado Over the Last 8 Years
Otero County, Colorado has experienced an impressive uptick in median home values over the last eight years, climbing from $91,900 in 2015 to $132,600 in 2022. Although still below Colorado's state median of $465,900 and the national median of $179,400 for 2022, this local market exhibits a strong growth trajectory, especially notable in the last few years. Such trends could indicate increasing demand or improving economic conditions, making it a potentially lucrative area for investors or new residents seeking growth potential without the premium pricing seen in other parts of the state.
Residential Energy Tax Credit Per Tax Return in Otero County, CO Over the Last 8 Years
Otero County, Colorado has seen a significant increase in the average residential energy tax credit per tax return over the last eight years. Starting at $221.43 in 2013, the credit has consistently grown, peaking at $3290.00 in 2021. This upward trend underscores a rising investment in energy-efficient home improvements, which could appeal to residents and investors aiming for cost savings and sustainability. With tax credits climbing rapidly, the county seems poised for further growth in residential upgrades and green energy initiatives.
Average Real Estate Taxes Per Tax Return in Otero County, CO Over the Last 10 Years
Over the past decade, Otero County, Colorado has experienced notable fluctuations in average real estate taxes per tax return. The values have generally trended upward, especially peaking in 2019 at $1557.14 before seeing a decline in the subsequent years. This variability suggests some potential instability in property tax rates, which could impact long-term investment decisions and planning for homeowners and developers in the area.
Percentage of Farm Returns in Otero County, CO Over the Last 10 Years
Over the past decade, the percentage of farm tax returns in Otero County, Colorado has experienced a general decline, starting from approximately 6.99% in 2012 to around 5.53% in 2021. Farm tax returns reflect the income derived from agricultural activities, impacting local economy and land values. The decline suggests possible challenges in the agricultural sector or shifts in land use, which potential investors and property developers should consider. This trend could indicate broader economic shifts in Otero County, affecting decisions for those looking to move to or invest in the area.
Number of Mortgages by Occupancy Type in Otero County, CO Over the Last 5 Years in Otero County
Trends in Otero County, Colorado show a notable dominance of mortgages for principal residences over the last five years, peaking at 834 in 2021. Investment properties have seen a general decline, dropping from 56 mortgages in 2018 to just 18 in 2021, though they slightly bounced back to 41 in 2022. Second residences consistently remain a small fraction of the market, not exceeding 15 mortgages annually. These shifts could imply changing priorities among homebuyers, possibly influenced by economic factors or lifestyle changes. For investors and real estate agents, these trends might suggest focusing more on properties appealing as principal residences. For anyone looking to move or build in the area, understanding these dynamics can help align with market demands and potentially more favorable mortgage conditions.
Economic Outlook
Average Taxable Income per Tax Return in Otero County, CO over the last 9 years
Otero County, CO has seen a notable increase in average taxable income per tax return over the past nine years, rising from $39,091.79 in 2013 to $47,499.24 in 2021. This upward trend highlights the area's growing economic potential, indicating favorable conditions for investors, developers, and new residents.
Average State and Local Income Taxes Per Tax Return in Otero County, CO Over the Last 10 Years
Over the last decade, Otero County, CO has experienced fluctuating but overall increasing state and local income taxes per tax return, rising from $3,698.80 in 2012 to $5,776.92 in 2021. This trend highlights a notable spike post-2018, suggesting increased fiscal demands on residents. Such shifts are critical for potential movers and current residents to consider, as they directly impact disposable income and financial planning.
Average Total Tax Liability Per Tax Return in Otero County, CO Over the Last 10 Years
Over the past decade, Otero County, Colorado has seen fluctuations in the average total tax liability per tax return, with a notable peak in 2017 at $5,869.01 and a dip in 2018 to $5,084.02. Recent years show a steady recovery, rising to $5,785.95 in 2021. These variations indicate a dynamic economic landscape, valuable for investors, potential residents, and property developers assessing the financial climate of the area.
Cost of Living in Otero County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,210 | $1,420 | $2,013 | $1,311 | $1,251 |
| 1 adult 4 children | $1,210 | $1,159 | $1,559 | $1,311 | $1,360 |
| 2 adults 3 children | $1,210 | $1,160 | $1,737 | $1,311 | $1,017 |
| 1 adult 3 children | $1,210 | $947 | $1,283 | $1,311 | $1,099 |
| 2 adults 2 children | $899 | $949 | $1,461 | $1,136 | $839 |
| 1 adult 2 children | $899 | $709 | $1,007 | $1,136 | $792 |
| 2 adults 1 child | $899 | $750 | $1,185 | $566 | $744 |
| 1 adult 1 child | $899 | $485 | $731 | $566 | $606 |
| 2 adults | $683 | $603 | $909 | $0 | $571 |
| 1 adult | $678 | $329 | $455 | $0 | $511 |
Safety trends & Data
Property Crime Trends in Otero County, CO Over the Last 5 Years
Over the last five years, property crimes in Otero County, Colorado have shown some variability. Larceny-theft holds consistently high numbers, peaking at 94 in 2020 but dropping notably to 62 in 2021 before rising slightly again. Burglary incidents also fluctuate, reaching a high of 33 arrests in 2019 but then trending down and up sporadically. Motor vehicle thefts exhibit less dramatic shifts, yet 2021 saw a notable uptick. Vandalism and fraud have less clear trends but substantial presence. Overall, these patterns indicate specific deterrent or reactive measures may be required for effective crime management in the county.
Demographics
In Otero County, Colorado, the adult population is fairly balanced between males and females, hinting at a roughly equal gender distribution. The educational landscape shows that most adults hold at least a high school diploma, yet only a small segment has attained graduate or professional degrees, suggesting potential growth opportunities in higher education. Age-wise, a significant portion of the population is over 65, which might imply an aging demographic. Racially, the county is... Read more
Race Distribution in Otero County, Colorado (2022)
Educational Attainment in Otero County, Colorado (2022)
Age Distribution in Otero County, Colorado
Citizen Population in Otero County, Colorado (2022)
Political Trends & Data
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Otero County, Colorado, voting trends from the 2020 U.S. Presidential Election suggest a strong leaning towards the Republican party, which garnered about 60% of the vote. Democratic support was notably lower, securing around 37%. Minor parties, including the Libertarian and Green parties, received minimal backing, collectively capturing less than 2% of the vote. The data could indicate a predominantly conservative demographic with limited diversity in political preference.
60.11% of voters voted for the Republican party in the 2020 Presidential Election
37.65% of voters voted for the Democrat party in the 2020 Presidential Election
0.92% of voters voted for the Livertarian party in the 2020 Presidential Election
0.17% of voters voted for the Green party in the 2020 Presidential Election
1.16% of voters voted for the Other party in the 2020 Presidential Election
School Data
Student-to-teacher ratio in Otero County, Colorado over the last 10 years
Over the past ten years, Otero County, Colorado has generally maintained a student-to-teacher ratio below the national average of fourteen, fluctuating between roughly twelve to thirteen students per teacher. However, an anomaly occurred in 2021 when the ratio spiked to fifteen, which may have been influenced by unusual circumstances such as staffing changes or population shifts. This relatively favorable student-to-teacher ratio could be appealing to families prioritizing personalized education, as it often leads to more one-on-one interactions between students and teachers. Real estate investors and agents might find this data useful for marketing properties within the county, especially those targeting families with school-aged children.
