Bay County Real Estate and Livability Trends
Bay County, Florida, has experienced a notable economic boom, with taxable income rising from $49,498.75 in 2013 to $74,280.34 in 2021. Similarly, median home values jumped from $157,800 in 2015 to $246,800 in 2022, outpacing national trends. Investors may find these trends compelling, especially given the county's focus on energy-efficient home upgrades and robust mortgage activity indicating... Read more
Bay County Market Trends
Bay County, Florida has seen median home values surge from $157,800 in 2015 to $246,800 in 2022, outpacing national trends. Heights in average residential energy tax credits—climbing to over $4,000.00 by 2021—point to growing investments in energy-efficient improvements. Real estate taxes have dramatically increased, with an average peak of $4,749.73 in 2020, suggesting possible policy or... Read more
Median Value of Occupied Housing Units in Bay County, Florida Over the Last 8 Years
Bay County, Florida, has experienced a substantial increase in median home values over the past eight years, with figures jumping from $157,800 in 2015 to $246,800 in 2022. Interestingly, this growth outpaces the national average, which only sees an increase from $125,500 to $179,400 over the same period. When compared to Florida as a whole, however, Bay County's housing market shows relatively modest gains—highlighting the county's potential as a more affordable yet appreciating area within the state. This could be attractive for investors and prospective residents looking for growth potential without the heightened entry costs seen in other parts of Florida.
Residential Energy Tax Credit Per Tax Return in Bay County, FL Over the Last 9 Years
Over the past nine years, Bay County, Florida has seen a significant increase in the average residential energy tax credit per tax return, leaping from $371.60 in 2013 to over $4,000.00 by 2020 and 2021. This sharp rise underscores a growing investment in energy-efficient home improvements and renewable energy solutions, driven likely by both increasing incentive programs and homeowner awareness. These trends make Bay County an attractive area for eco-conscious investors, property developers eyeing green construction, and potential residents interested in energy savings.
Average Real Estate Taxes Per Tax Return in Bay County, FL Over the Last 10 Years
In Bay County, Florida, real estate taxes per tax return have shown a noticeable upward trajectory over the past decade. From around $2,659.53 in 2012, the average climbed sharply, reaching a peak of approximately $4,749.73 in 2020. The spike between 2017 and 2018 is particularly striking, suggesting potential factors such as policy changes or market adjustments during that period. This trend could indicate increasing property values, making Bay County potentially attractive for investors yet equally important for current and prospective homeowners to consider.
Percentage of Farm Returns in Bay County, FL Over the Last 10 Years
Over the last decade, Bay County, Florida, has recorded a fairly consistent but minimal presence of farm tax returns, floating around 0.35% to 0.41% of total returns. This suggests that agricultural activities make up a relatively small segment of the county’s overall economic picture. Notable is the spike in 2018, reaching 0.41%, possibly driven by favorable farming conditions or policy shifts. For investors or potential residents, this stability might indicate a steady yet niche agricultural sector, appealing for those interested in small-scale or specialty farming opportunities.
Number of Mortgages by Occupancy Type in Bay County, FL Over the Last 5 Years in Bay County
Bay County, Florida has shown fluctuations in mortgage counts across different occupancy types over the last five years. There has been a significant rise in the number of principal residence mortgages, peaking in 2021 at 16,363 before dropping to 11,462 in 2022. Investment properties also saw an upward trend, particularly from 2018 (979) to 2021 (2,206), highlighting growing interest in the investment real estate market. Second residences, while generally lower in volume, also reached a high in 2021 with 3,256 mortgages before experiencing a sharp decline in 2022. Changes in occupancy type can reveal a lot about economic conditions and local populations. For instance, an increase in principal residence mortgages might suggest a growing local population, which could signal economic opportunities or a desirable living environment—appealing factors for investors, real estate agents, or builders. Conversely, a rise in investment property mortgages often indicates a strong rental market or speculative investment appeal, which might attract out-of-state investment or development opportunities. These trends can also impact property valuations and insurance rates, essential considerations for appraisers and insurance agents.
Economic Outlook
Bay County, Florida has experienced steady economic growth with average taxable income per tax return rising from $49,498.75 in 2013 to $74,280.34 in 2021. In tandem, there's been a noticeable uptick in state and local income taxes, climbing from $7,302.03 in 2012 to $12,398.63 in 2021, alongside an average total tax liability increase from $8,916.55 to $12,431.41 over the same period. While poverty rates have fluctuated, hitting a low of 9.6% in 2022 compared to a high of 17.0% in 2013, the... Read more
Average Taxable Income per Tax Return in Bay County, FL over the last 9 years
Bay County, FL has seen a notable increase in average taxable income per tax return over the past nine years. Starting from $49,498.75 in 2013, the income rose steadily with minor fluctuations, reaching a significant peak of $74,280.34 in 2021. This upward trend indicates a robust economic growth, making it an attractive spot for investors, potential residents, and property developers looking for promising opportunities.
Average State and Local Income Taxes Per Tax Return in Bay County, FL Over the Last 10 Years
Over the past decade, Bay County, FL has experienced a notable increase in state and local income taxes per tax return. The average tax burden rose significantly from $7,302.03 in 2012 to $12,398.63 in 2021. This trend indicates a growing financial obligation for residents, which may impact decisions for those considering moving to or remaining in the area.
Average Total Tax Liability Per Tax Return in Bay County, FL Over the Last 10 Years
Over the past decade, Bay County, Florida, has experienced a notable increase in the average total tax liability per tax return, trending from $8,916.55 in 2012 to $12,431.41 in 2021. This consistent rise highlights the county's evolving economic landscape and can serve as a pivotal indicator for potential investors and residents, signaling both greater income levels and possibly heightened fiscal demands. It's evident that understanding these tax trends is crucial for making informed decisions about property investments, relocations, and financial planning within the county.
Cost of Living in Bay County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,785 | $1,560 | $1,989 | $1,160 | $1,107 |
| 1 adult 4 children | $1,785 | $1,274 | $1,522 | $1,160 | $1,242 |
| 2 adults 3 children | $1,785 | $1,275 | $1,726 | $1,160 | $911 |
| 1 adult 3 children | $1,785 | $1,041 | $1,258 | $1,160 | $1,015 |
| 2 adults 2 children | $1,299 | $1,043 | $1,462 | $1,028 | $722 |
| 1 adult 2 children | $1,299 | $779 | $995 | $1,028 | $675 |
| 2 adults 1 child | $1,299 | $825 | $1,199 | $600 | $706 |
| 1 adult 1 child | $1,299 | $533 | $731 | $600 | $594 |
| 2 adults | $1,122 | $663 | $935 | $0 | $623 |
| 1 adult | $1,053 | $361 | $468 | $0 | $539 |
Safety trends & Data
Bay County, Florida has seen a substantial decrease in property crimes over the past two years, including a significant drop in arson incidents from 20 in 2019 to 6 in 2020. Burglaries dropped from 719 to 591, and while larceny-theft remains high, it fell from 1,918 to 1,680 cases. Motor vehicle theft decreased from 184 to 127 cases. This promising trend could attract potential investors or residents looking for safer neighborhoods and might positively impact property values and insurance rates... Read more
Property Crime Trends in Bay County, FL Over the Last 2 Years
Bay County, Florida has observed a noticeable decrease in property crimes over the last two years. Arson incidents saw a significant drop from 20 in 2019 to 6 in 2020, while burglary cases decreased from 719 to 591 during the same period. Larceny-theft remains high but still saw a reduction from 1,918 cases to 1,680. Motor vehicle theft decreased from 184 to 127 cases. Financial crimes, including embezzlement, forgery, and fraud, also showed substantial declines, which could suggest improved economic conditions or effective law enforcement interventions. These trends may be promising for potential investors or residents seeking safer neighborhoods and could influence property values and insurance rates in the county.
Demographics
Bay County, Florida, shows a nearly balanced gender distribution among adults, with a slight female majority. The educational landscape is notable, with a strong representation of high school graduates and those with some college experience. Age-wise, there’s a significant portion of the population in the 25-34 and 55-64 age brackets, hinting at a mix of young professionals and nearing-retirement residents. Racially, the county is predominantly White, although there is a meaningful Black or... Read more
Race Distribution in Bay County, Florida (2022)
Educational Attainment in Bay County, Florida (2022)
Age Distribution in Bay County, Florida
Citizen Population in Bay County, Florida (2022)
Political Trends & Data
Bay County, Florida, heavily leaned Republican in the 2020 U.S. Presidential Election, with the GOP possibly securing around 71% of the vote. Democrats trailed significantly at roughly 27.5%, while Libertarians made a minor showing at just over 1%. The Green Party and other minor parties barely registered, each capturing less than 0.2% of the vote. This political landscape could influence local policies and potentially impact real estate market trends, as buyer preferences might lean towards... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Bay County, Florida, leaned heavily Republican in the 2020 U.S. Presidential Election, with the GOP possibly securing around 71% of the vote. Democrats trailed significantly at roughly 27.5%, while Libertarians made a minor showing at just over 1%. The Green Party and other minor parties barely registered, each capturing less than 0.2% of the vote.
71.05% of voters voted for the Republican party in the 2020 Presidential Election
27.53% of voters voted for the Democrat party in the 2020 Presidential Election
1.08% of voters voted for the Livertarian party in the 2020 Presidential Election
0.15% of voters voted for the Green party in the 2020 Presidential Election
0.18% of voters voted for the Other party in the 2020 Presidential Election
School Data
Bay County, Florida's rising student-to-teacher ratio, jumping from around 15 in the mid-2010s to over 18 by 2023, may signal shifts in school funding and educational quality. This trend is worth noting for real estate agents, as it could influence property values and desirability. Appraisers, insurance agents, and builders might also find these demographic changes indicative of broader market conditions. Parents planning a move to this area might consider these figures, especially when... Read more
Student-to-teacher ratio in Bay County, Florida over the last 10 years
Bay County, Florida has experienced notable changes in its student-to-teacher ratio over the past decade, starting at around 15 students per teacher in the mid-2010s and climbing to over 18 by 2023. This trend is significant for those considering investment or residency as it may reflect changes in school funding, classroom size, and overall educational quality. Real estate agents might find this rise interesting as a potential impact factor on property values and desirability. Appraisers, insurance agents, and builders could see parallels in demographic fluxes when analyzing market conditions, and parents planning to move here might weigh these figures against the national average of 14 students per teacher, adjusting expectations for their children's education accordingly.
