Citrus County Real Estate and Livability Trends
Citrus County, Florida's real estate market has witnessed a significant rise in median home values, jumping from $112,300 in 2015 to $190,800 in 2022, suggesting a rapidly appreciating market with potential for continued growth. However, accompanying this increase in property values, real estate taxes have nearly doubled within a decade, hinting at potentially higher carrying costs for... Read more
Citrus County Market Trends
Citrus County, Florida has seen a significant jump in median home values, rising from $112,300 in 2015 to $190,800 in 2022, indicating a rapidly appreciating market that, although still trailing the state median, shows potential for ongoing growth. Despite a peak in residential energy tax credits in 2018 at $2,718.37, there remains a strong push towards sustainable technologies, hinting at robust... Read more
Median Value of Occupied Housing Units in Citrus County, Florida Over the Last 8 Years
Citrus County, Florida has experienced significant upward movement in median home values over the last 8 years, from $112,300 in 2015 to $190,800 in 2022. This growth trajectory might attract investors considering the pace of appreciation compared to the national median, which was $125,500 in 2015 and $179,400 in 2022. Despite still trailing the state median, which surged from $159,000 to $292,200, Citrus County's consistent increase could be signaling a maturing market with potential for further expansion. This might interest those looking to move to or invest in a locale that appears to be catching up with broader real estate trends.
Residential Energy Tax Credit Per Tax Return in Citrus County, FL Over the Last 9 Years
Citrus County, Florida, has seen a substantial increase in average residential energy tax credits per tax return over the past nine years, peaking in 2018 at $2,718.37. Notable spikes occurred in 2017 and 2018, highlighting significant investment in energy-efficient technologies. Although there was a decline post-2018, the average credit remained robust, reflecting ongoing improvements and interest in sustainable living solutions. This trend suggests strong community and policy support for energy efficiency, making it an appealing prospect for investors and homeowners focused on green initiatives.
Average Real Estate Taxes Per Tax Return in Citrus County, FL Over the Last 10 Years
Citrus County, Florida has seen a notable rise in average real estate taxes per tax return over the last decade, moving from around $2,740.68 in 2012 to just shy of $5,000 by 2021. This steady increase, peaking significantly between 2017 and 2019, signals a potentially growing demand for property and reflects rising property values in the area. For potential investors or new residents, this trend could suggest higher carrying costs, while existing property owners might view the tax increase as validation of their property's appreciation in value.
Percentage of Farm Returns in Citrus County, FL Over the Last 10 Years
Over the last decade in Citrus County, Florida, the percentage of farm tax returns has fluctuated slightly, hovering around 0.62% in 2012 and peaking at approximately 0.68% in 2013 before dipping to about 0.55% by 2021. These figures might suggest a relatively stable yet small farming sector. For potential investors, developers, or new residents, this trend could imply that agriculture makes up a minor part of the local economy, with minimal return volatility. This stability might present reliable albeit modest opportunities in farming-related ventures.
Number of Mortgages by Occupancy Type in Citrus County, FL Over the Last 5 Years in Citrus County
Over the last five years, Citrus County, Florida, has seen a notable increase in the number of mortgages for principal residences, peaking in 2021 with 14,213. Mortgages for second residences and investment properties reflect more volatile trends, with investment properties showing a significant rise in 2022 compared to earlier years. These shifts in occupancy type can provide crucial insights for investors, developers, and real estate agents by pinpointing market dynamics and potential areas of growth or risk. For instance, a surge in principal residence mortgages suggests a growing population settling permanently, impacting infrastructure demands, while fluctuating investment property numbers might signal changing investor confidence or market conditions.
Economic Outlook
Citrus County, Florida has seen a steady rise in average taxable income, hitting $64,885.44 by 2021, suggesting growing economic stability and higher earning opportunities. However, fluctuations in state and local income taxes, dramatically spiking from $7,328.26 in 2018 to $12,089.36 in 2019, then slightly stabilizing, indicate a dynamic fiscal environment requiring careful financial consideration. The total tax liability per tax return also shows an upward trend, peaking at $10,182.67 in... Read more
Average Taxable Income per Tax Return in Citrus County, FL over the last 9 years
Citrus County, FL has shown a consistent rise in average taxable income per tax return over the past nine years, surging from $46,172.07 in 2013 to $64,885.44 in 2021. Noteworthy increases happened between 2016 and 2017, climbing by nearly $3,900, and a substantial jump from 2020 to 2021 of over $10,000. This trend indicates a growing economic stability and potential for higher earning opportunities, making it an attractive area for investment, property development, and residency.
Average State and Local Income Taxes Per Tax Return in Citrus County, FL Over the Last 10 Years
Citrus County, Florida has seen marked fluctuations in its average state and local income taxes per tax return over the past decade. Notably, there was a dramatic increase from $7,328.26 in 2018 to $12,089.36 in 2019, followed by a slight dip in 2020 to $9,285.42 and a minor rise to $9,326.53 in 2021. This volatile pattern suggests a dynamic fiscal environment, making it essential for potential investors and residents to pay close attention to these tax trends when considering financial commitments in the area.
Average Total Tax Liability Per Tax Return in Citrus County, FL Over the Last 10 Years
Over the last decade, Citrus County, Florida has experienced a noticeable increase in average total tax liability per tax return. Starting at $7,208.97 in 2012, the figure saw a steady rise, peaking dramatically at $10,182.67 in 2021. Investors and future residents should note this upward trend, indicating potentially rising income levels and possibly increased financial prosperity in the area. However, this also suggests a growing tax burden, which could impact cost of living and property investments.
Cost of Living in Citrus County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,338 | $1,556 | $1,835 | $1,283 | $921 |
| 1 adult 4 children | $1,338 | $1,271 | $1,402 | $1,283 | $998 |
| 2 adults 3 children | $1,338 | $1,271 | $1,592 | $1,283 | $720 |
| 1 adult 3 children | $1,338 | $1,038 | $1,160 | $1,283 | $777 |
| 2 adults 2 children | $967 | $1,041 | $1,350 | $1,112 | $601 |
| 1 adult 2 children | $967 | $777 | $917 | $1,112 | $541 |
| 2 adults 1 child | $967 | $823 | $1,107 | $559 | $576 |
| 1 adult 1 child | $967 | $531 | $675 | $559 | $470 |
| 2 adults | $735 | $661 | $865 | $0 | $492 |
| 1 adult | $721 | $360 | $432 | $0 | $432 |
Safety trends & Data
Citrus County, Florida's property crime trends over the past two years have been mixed. Arson incidents dropped dramatically from 7.0 in 2019 to just 1.0 in 2020, while burglaries and larceny-theft cases saw slight declines. However, fraud incidents and motor vehicle theft experienced modest increases. Vandalism rates remained stable at 39.0 cases each year, suggesting a persistent issue. These stats could influence investors and property developers looking to make informed decisions in the... Read more
Property Crime Trends in Citrus County, FL Over the Last 2 Years
Citrus County, Florida has shown varying trends in property crime over the past two years. Notably, arson incidents plummeted from 7.0 in 2019 to just 1.0 in 2020. Burglaries and larceny-theft cases saw slight declines, with burglary arrests dropping from 94.0 to 67.0 and larceny-theft from 373.0 to 369.0. However, fraud incidents and motor vehicle theft saw modest increases, with fraud rising from 45.0 to 54.0 and motor vehicle theft from 44.0 to 50.0. Vandalism rates remained stable at 39.0 cases each year, indicating a persistent issue. These stats might guide investors, property developers, and others interested in understanding local crime dynamics for better decision-making.
Demographics
Citrus County, Florida, highlights a nuanced population trend where there are slightly more females than males among its 2022 adult residents. The educational breakdown indicates a significant portion without advanced degrees, yet there's noticeable attainment within some level of college education. Age-wise, a substantial part of the community is over 55, suggesting a possibly large retired population. Racially, the county remains predominantly White, with smaller representations from other... Read more
Race Distribution in Citrus County, Florida (2022)
Educational Attainment in Citrus County, Florida (2022)
Age Distribution in Citrus County, Florida
Citizen Population in Citrus County, Florida (2022)
Political Trends & Data
Citrus County in Florida seems to have a strong conservative presence given that over 70% of the 2020 U.S. Presidential Election votes went to the Republican party, while Democrats secured about 29%. Minor parties barely registered, each obtaining less than 1% support. This Republican dominance could shape local and state elections... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Citrus County in Florida possibly leans heavily toward the Republican party, with over 70% of the vote, compared to roughly 29% for Democrats in the 2020 U.S. Presidential Election. Minor parties like the Libertarian and Green garnered minimal support, each pulling in less than 1% of the vote. This could suggest a strong conservative presence in the county, which may influence local and state elections significantly.
70.11% of voters voted for the Republican party in the 2020 Presidential Election
29.07% of voters voted for the Democrat party in the 2020 Presidential Election
0.59% of voters voted for the Livertarian party in the 2020 Presidential Election
0.09% of voters voted for the Green party in the 2020 Presidential Election
0.14% of voters voted for the Other party in the 2020 Presidential Election
School Data
Citrus County, Florida has seen its student-to-teacher ratio climb from 13 in 2014 to around 17 in 2022, slightly dipping to 16 in 2023. This higher ratio, above the national average of 14, could influence classroom dynamics and personalized student attention, which might be a consideration for families and policymakers focusing on education. Investors and real estate agents should note these educational factors, as they can significantly impact property values and the area's overall... Read more
Student-to-teacher ratio in Citrus County, Florida over the last 10 years
Citrus County, Florida has experienced some fluctuation in student-to-teacher ratios over the past decade. Starting at 13 students per teacher in 2014, it has generally trended upwards, peaking at 17 students per teacher in 2022. While the ratio dipped slightly in 2023 to around 16 students per teacher, it's still above the national average of 14. This higher ratio could potentially affect classroom dynamics and personalized attention for students, a consideration for families, educators, and policymakers aiming to enhance educational outcomes in the county. Investors and real estate agents might also find these shifts noteworthy, as the quality of education can heavily influence property values and desirability.
