Boone County Real Estate and Livability Trends
Boone County, Illinois, demonstrates economic growth with average taxable income surging from $58,003.99 in 2013 to $78,052.80 in 2021, hinting at enhanced economic resilience. Notably, median home values increased from $143,700 in 2015 to $181,700 in 2022, positioning the county as a more affordable option compared to state averages. There's been a significant rise in real estate taxes from... Read more
Boone County Market Trends
Boone County, Illinois, has experienced a notable uptick in median home values, climbing from $143,700 in 2015 to $181,700 in 2022. While this trend tops national growth, it falls behind the state average, possibly positioning Boone County as a more value-oriented choice for homebuyers and investors. The county also saw a significant rise in average residential energy tax credits, peaking at... Read more
Median Value of Occupied Housing Units in Boone County, Illinois Over the Last 8 Years
Over the past eight years, Boone County, Illinois has seen median home values rise from $143,700 in 2015 to $181,700 in 2022, reflecting a local growth trend. While this increase is significant, it still lags behind the state of Illinois, where median home values soared from $173,800 in 2015 to $239,100 in 2022. On a national scale, median home values also climbed, from $125,500 in 2015 to $179,400 in 2022, posing Boone County's growth as slightly above average nationally but below the Illinois state average. This data suggests that Boone County could be of interest to investors and homebuyers looking for potential value increases without the higher entry price seen in other areas of Illinois.
Residential Energy Tax Credit Per Tax Return in Boone County, IL Over the Last 9 Years
Boone County, Illinois has seen a notable upward trend in the average residential energy tax credit per tax return over the past nine years. Starting from $246.15 in 2013, the credit spiked significantly by 2017, reaching $495.92, and peaked in 2019 at $1,351.56. While there has been a slight decrease since then, the 2021 average still held strong at $1,032.76. This trend might suggest increased residential investment in energy-efficient improvements, which can be promising for investors, real estate professionals, and those considering moving to the area. Insurance agents and appraisers may also find this data relevant, as it indicates a potentially higher valuation for homes utilizing energy-saving technologies.
Average Real Estate Taxes Per Tax Return in Boone County, IL Over the Last 10 Years
Real estate taxes in Boone County, Illinois have seen a notable upward trajectory over the past decade. Starting at approximately $5,044.75 in 2012, these taxes gradually increased to around $8,225.55 by 2021. This upward trend might indicate rising property values, making the area potentially attractive for investors. However, the higher tax burden could be a consideration for those looking to move in or for insurance agents and appraisers evaluating the market. Real estate agents and property developers may find these trends useful when advising clients or planning new projects.
Percentage of Farm Returns in Boone County, IL Over the Last 10 Years
The percentage of farm tax returns in Boone County, Illinois, has seen a gradual decline over the past decade, starting at approximately 1.96% in 2012 and dropping to around 1.57% by 2021. This trend might suggest a shift in the local agricultural economy, potentially opening the door for new types of investments or signaling broader changes in land use and property development. For those considering moving to or investing in Boone County, understanding these trends might be critical as it could affect property values and development opportunities.
Number of Mortgages by Occupancy Type in Boone County, IL Over the Last 5 Years in Boone County
Over the last five years in Boone County, Illinois, mortgage counts for principal residences have significantly outnumbered those for investment and second properties, peaking in 2021 with 3,644 principal residence mortgages. Investment properties saw a less pronounced but steady presence, with a minor peak in 2020 at 111 mortgages. The second residence category remained the smallest segment throughout, never exceeding 40 mortgages in a given year. These trends suggest a dominant interest in primary homes, hinting that Boone County might not be a hotbed for real estate investors or those looking for vacation properties. For investors and builders, this implies a steadier market with fewer speculative swings, but potentially lower returns on investment properties. For insurance agents and appraisers, the consistent demand for principal residences might indicate stable property values and risk profiles.
Economic Outlook
Boone County, Illinois, has experienced a substantial rise in average taxable income per tax return from $58,003.99 in 2013 to $78,052.80 in 2021, hinting at a growing economic environment. The spike in taxable income between 2020 and 2021 might reflect stronger economic resilience or shifts due to the pandemic. Additionally, there's been a notable increase in average state and local income taxes, jumping from $5,354.95 in 2012 to $11,811.97 in 2021, signaling significant fiscal changes in the... Read more
Average Taxable Income per Tax Return in Boone County, IL over the last 9 years
Over the last nine years, Boone County, Illinois has seen a noteworthy upward trend in average taxable income per tax return, starting from $58,003.99 in 2013 and reaching $78,052.80 in 2021. This gradually increasing income could potentially hint at a growing economic environment that's appealing for investors and residents alike. The spike between 2020 and 2021 is especially intriguing, as it may reflect stronger economic resilience or shifts, possibly due to the pandemic’s economic reconfiguration.
Average State and Local Income Taxes Per Tax Return in Boone County, IL Over the Last 10 Years
Over the past decade, Boone County, Illinois has seen a marked increase in average state and local income taxes per tax return, jumping from $5,354.95 in 2012 to $11,811.97 in 2021. This sharp rise, particularly noticeable from 2017 onwards, highlights a significant shift in the county's fiscal landscape. For potential investors and residents, this trend underscores the importance of considering local tax implications when evaluating property investments or relocations to the area.
Average Total Tax Liability Per Tax Return in Boone County, IL Over the Last 10 Years
In Boone County, Illinois, the average total tax liability per tax return has generally been on an upward trend over the past decade, moving from $9,635.21 in 2012 to a notable increase reaching $12,669.31 in 2021. This trend is particularly significant for potential investors or those considering relocating as it reflects the changing financial climate of the area. The increase in tax liability may suggest rising incomes or property values, potentially indicating economic growth and stability in Boone County. For developers or those looking to build, understanding these shifts could be crucial for financial planning and forecasting potential returns on investment.
Cost of Living in Boone County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,406 | $1,387 | $2,031 | $1,533 | $1,572 |
| 1 adult 4 children | $1,406 | $1,133 | $1,563 | $1,533 | $1,671 |
| 2 adults 3 children | $1,406 | $1,133 | $1,758 | $1,533 | $1,336 |
| 1 adult 3 children | $1,406 | $925 | $1,289 | $1,533 | $1,431 |
| 2 adults 2 children | $1,042 | $928 | $1,484 | $1,384 | $1,093 |
| 1 adult 2 children | $1,042 | $693 | $1,016 | $1,384 | $1,087 |
| 2 adults 1 child | $1,042 | $733 | $1,211 | $897 | $1,023 |
| 1 adult 1 child | $1,042 | $474 | $742 | $897 | $862 |
| 2 adults | $791 | $589 | $937 | $0 | $750 |
| 1 adult | $696 | $321 | $469 | $0 | $607 |
Demographics
Boone County, Illinois shows a fairly balanced gender distribution among adults, with nearly equal numbers of males and females. Educational attainment reveals a significant portion of the population holding high school diplomas or some college experience, while fewer residents possess associate's or higher degrees. Age distribution indicates a stronger representation of middle-aged adults, particularly those in the 45-54 category. Racially, the county remains predominantly White, though there... Read more
Race Distribution in Boone County, Illinois (2022)
Educational Attainment in Boone County, Illinois (2022)
Age Distribution in Boone County, Illinois
Citizen Population in Boone County, Illinois (2022)
Political Trends & Data
Boone County in Illinois might be showing a strong Republican preference in the 2020 U.S. Presidential Election, potentially over half of the votes leaning that way. Democrats possibly trailed by around 13 percentage points, suggesting a noticeable, though not dominant, presence. With third-party votes remaining minor, the area could be seen as predominantly Republican while still having a noteworthy Democratic... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Boone County in Illinois appeared to favor the Republican party in the 2020 U.S. Presidential Election, with potentially over half of the votes leaning in that direction. The Democrats might have come in second, trailing behind by approximately 13 percentage points. Third-party votes, including Libertarian and Green parties, seemed relatively minimal. These trends could suggest a predominantly Republican inclination within the county, though the significant minority support for Democrats might indicate a more complex local political landscape.
55.58% of voters voted for the Republican party in the 2020 Presidential Election
42.20% of voters voted for the Democrat party in the 2020 Presidential Election
1.44% of voters voted for the Livertarian party in the 2020 Presidential Election
0.58% of voters voted for the Green party in the 2020 Presidential Election
0.19% of voters voted for the Other party in the 2020 Presidential Election
School Data
Over the past nine years, Boone County, Illinois, has experienced a decline in the student-to-teacher ratio from seventeen students per teacher in 2014 to about thirteen students per teacher in 2023. This shift might indicate better educational resources or more investment in the school system, making the area more appealing to families. The current ratio is below the national average, suggesting a personalized educational environment that could boost local property values and demand. Real... Read more
Student-to-teacher ratio in Boone County, Illinois over the last 9 years
Over the past nine years, the student-to-teacher ratio in Boone County, Illinois, has seen a notable decline from around seventeen students per teacher in 2014 to approximately thirteen students per teacher in 2023. This gradual improvement might indicate enhanced educational resources or increasing investments in education, potentially making the area more attractive to families considering a move. With the current ratio being lower than the national average of fourteen students per teacher, educational quality in Boone County could be more personalized, possibly benefiting student outcomes. For real estate agents and investors, these trends suggest a positive shift in local schooling standards, which could elevate property values and demand. Appraisers and insurance agents could also see this trend as an indicator of a desirable, family-friendly community, impacting various aspects of their assessments and offerings.
