Pitkin County Market Trends
Median Value of Occupied Housing Units in Pitkin County, Colorado Over the Last 8 Years
Pitkin County has experienced a dramatic increase in median home values over the last eight years, peaking at $912,300 in 2022. The fluctuations seen from 2015 to 2021 highlight a somewhat volatile market, but the more recent growth outpaces both Colorado and national trends. For example, Colorado's median home value in 2022 was $465,900, and nationally it was $179,400. This surge could indicate higher demand and desirability, making it potentially appealing for investors, but might also reflect affordability challenges for new residents.
Residential Energy Tax Credit Per Tax Return in Pitkin County, CO Over the Last 9 Years
Pitkin County, Colorado has seen a significant increase in the average residential energy tax credit per tax return over the last nine years. Starting at $830.00 in 2013, the credit peaked at $4,966.67 in 2018 before settling at around $3,580.00 in 2021. This trend reflects a growing interest and investment in energy-efficient home improvements, making the county an attractive place for individuals looking to capitalize on green energy incentives.
Average Real Estate Taxes Per Tax Return in Pitkin County, CO Over the Last 10 Years
Real estate taxes per tax return in Pitkin County, Colorado have seen a notable upward trend over the past decade, with values rising from $6,497.46 in 2012 to $15,842.58 in 2021. This consistent increase might indicate a growing demand for property in the area, possibly driven by its desirability as a scenic and affluent region. Such tax trends could reflect increased property valuations and serve as a gauge for potential investors or homebuyers assessing the financial aspects of owning property in Pitkin County.
Percentage of Farm Returns in Pitkin County, CO Over the Last 10 Years
The data indicates that the percentage of farm tax returns in Pitkin County, Colorado has seen some fluctuation over the last decade, ranging between 0.49% and 0.79%, with a notable dip in the mid-2010s. Farm tax returns, which are a specific category of income tax filings for individuals or entities engaged in agricultural production, offer a glimpse into the agricultural economic activity within the county. These trends might be of interest to potential investors, property developers, and residents as they may reflect on broader shifts in local agricultural viability, economic health, and the changing landscape of rural land use in Pitkin County.
Number of Mortgages by Occupancy Type in Pitkin County, CO Over the Last 5 Years in Pitkin County
Over the last five years in Pitkin County, Colorado, mortgage counts reveal a notable variance across occupancy types. Principal residences consistently show the highest figures, indicating strong demand for primary homes, peaking at 1,562 in 2021. However, there was a sharp decline to 745 by 2022, which may suggest shifting local dynamics or economic factors affecting homeownership. Investment properties and second residences also show fluctuations, with investment property mortgages peaking modestly at 240 in 2021 before dropping to 173 in 2022. These trends matter for investors, appraisers, and real estate agents as they reflect the economic health and housing market stability, influencing property valuation, lending practices, and insurance requirements. These shifts could signal broader market conditions or hint at demographic changes, potentially impacting future development and investment strategies.
Economic Outlook
Average Taxable Income per Tax Return in Pitkin County, CO over the last 9 years
Over the past nine years, Pitkin County, CO has seen a significant rise in average taxable income per tax return, peaking dramatically at $520,793.92 in 2021. This marks a substantial increase from $113,356.37 in 2013. Fluctuations in annual values indicate economic variability, yet show an overarching upward trend. The dramatic income growth suggests economic prosperity, making Pitkin County an attractive option for investors, developers, and potential residents seeking thriving financial opportunities.
Average State and Local Income Taxes Per Tax Return in Pitkin County, CO Over the Last 10 Years
Over the last decade, Pitkin County, CO has seen a dramatic rise in the average state and local income taxes per tax return, escalating from $19,935.39 in 2012 to a staggering $89,750.00 by 2021. This significant increase reflects a growing affluent population or rising income levels, which may influence decisions for new residents considering relocation and existing residents managing their financial futures.
Average Total Tax Liability Per Tax Return in Pitkin County, CO Over the Last 10 Years
Over the past decade, Pitkin County, Colorado, has seen a substantial increase in the average total tax liability per tax return, climbing from $38,779.52 in 2012 to a remarkable $131,989.15 in 2021. This upward trend highlights a significant rise in the financial burdens or affluence of taxpayers in the county. Investors, potential property buyers, and residents should consider these hikes as indicative of growing income levels, economic activity, and possibly higher property values, reflecting the county's evolving economic landscape.
Cost of Living in Pitkin County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $2,325 | $1,890 | $2,015 | $2,492 | $2,548 |
| 1 adult 4 children | $2,325 | $1,544 | $1,560 | $2,492 | $2,575 |
| 2 adults 3 children | $2,325 | $1,544 | $1,738 | $2,492 | $2,253 |
| 1 adult 3 children | $2,325 | $1,261 | $1,283 | $2,492 | $2,376 |
| 2 adults 2 children | $1,910 | $1,264 | $1,462 | $2,177 | $1,835 |
| 1 adult 2 children | $1,910 | $944 | $1,007 | $2,177 | $1,919 |
| 2 adults 1 child | $1,910 | $999 | $1,186 | $1,153 | $1,412 |
| 1 adult 1 child | $1,910 | $645 | $731 | $1,153 | $1,386 |
| 2 adults | $1,590 | $803 | $910 | $0 | $993 |
| 1 adult | $1,366 | $438 | $455 | $0 | $873 |
Safety trends & Data
Property Crime Trends in Pitkin County, CO Over the Last 5 Years
Pitkin County, Colorado has experienced varied trends in property crime over the past five years, with larceny-theft consistently being the most prevalent category, peaking at 42.00 incidents in 2018 and showing fluctuations thereafter. Burglary and vandalism also see noticeable activity, with vandalism cases hitting a high of 18.00 in 2021. Fraud and motor vehicle theft numbers remain relatively lower but persistent. These shifts in property crime are crucial for investors, real estate agents, and those looking to move to or build in the area, as they can affect property values, insurance premiums, and overall community safety perceptions.
Demographics
Pitkin County, Colorado, in 2022 shows a nuanced demographic profile. The adult population is relatively balanced, with males slightly outnumbering females. Educationally, a significant portion of residents has attained bachelor's (possibly 5,045) or graduate degrees (potentially 3,474), hinting at a highly educated community. The age distribution indicates a population with substantial middle-aged and older adult segments, possibly affecting community planning and services. Finally, racial... Read more
Race Distribution in Pitkin County, Colorado (2022)
Educational Attainment in Pitkin County, Colorado (2022)
Age Distribution in Pitkin County, Colorado
Citizen Population in Pitkin County, Colorado (2022)
Political Trends & Data
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Pitkin County, Colorado, showed a dominant lean towards the Democratic Party in the 2020 U.S. Presidential Election, with around 75% of the votes potentially favoring the Democrats. The Republican Party, in comparison, might have garnered just over 23% of the vote, indicating a considerable gap. Minor parties such as the Libertarians and Greens possibly received negligible support, reflecting a strong two-party preference in this region.
23.25% of voters voted for the Republican party in the 2020 Presidential Election
75.18% of voters voted for the Democrat party in the 2020 Presidential Election
0.79% of voters voted for the Livertarian party in the 2020 Presidential Election
0.34% of voters voted for the Green party in the 2020 Presidential Election
0.44% of voters voted for the Other party in the 2020 Presidential Election
School Data
Student-to-teacher ratio in Pitkin County, Colorado over the last 10 years
Over the past decade, Pitkin County, Colorado has seen a fluctuating student-to-teacher ratio. Notably, 2015 saw a peak at 20 students per teacher, well above the national average of 14. Remarkable dips occurred in 2017 and 2018, hitting lows of 14 and 12, respectively, before rising again to 18 in 2023. These variations could impact prospective investors, movers, and real estate agents as they reflect the local education quality, which is a key consideration for families. For those developing property or working in real estate, understanding these changes might offer insights on market demand tied to school performance. Appraisers and insurance agents may also find these trends relevant since education quality often influences property values and associated risks.
