Champaign County Real Estate and Livability Trends
In Champaign County, Illinois, the surge in average taxable income from $59,047.53 in 2013 to $82,596.84 in 2021 could give the real estate market a boost, yet the jump in state and local income taxes could deter investors. Median home values increased from $150,200 in 2015 to $192,600 in 2022, demonstrating affordability compared to the state average. A declining farm tax return percentage... Read more
Champaign County Market Trends
In Champaign County, Illinois, median home values have grown from $150,200 in 2015 to $192,600 in 2022, trailing the state's rise from $173,800 to $239,100. This suggests relative affordability and potential for appreciation, making it an interesting spot for investment. Real estate taxes have also climbed from around $4,480 in 2012 to $7,843 in 2021, possibly impacting property values and market... Read more
Median Value of Occupied Housing Units in Champaign County, Illinois Over the Last 8 Years
In Champaign County, Illinois, median home values have demonstrated steady growth over the past eight years, increasing from $150,200 in 2015 to $192,600 in 2022. This trajectory is intriguing when compared to both state and national figures. Illinois saw a rise from $173,800 to $239,100 over the same period, outpacing Champaign County's growth rate. On the national level, the median home value increased from $125,500 in 2015 to $179,400 in 2022. Investors and residents in Champaign County might find this data indicative of the area's relative affordability and potential for appreciation, especially when considering the higher median values in Illinois generally and the nation's accelerating housing market.
Residential Energy Tax Credit Per Tax Return in Champaign County, IL Over the Last 9 Years
Champaign County, Illinois has seen a notable increase in the average residential energy tax credit per tax return over the past nine years. Starting at $376.80 in 2013, there's a sharp jump to $1,046.91 by 2017, and a significant peak at $3,961.90 in 2018. Although it dips thereafter, it still averages above $1,400 by 2021. These fluctuations might suggest a growing emphasis on energy-efficient home improvements and could influence decisions for homeowners, investors, and real estate professionals in the area. This data may hint at potential policy changes or shifts in energy-saving behaviors among residents.
Average Real Estate Taxes Per Tax Return in Champaign County, IL Over the Last 10 Years
Champaign County, Illinois has experienced a steady increase in real estate taxes over the past decade, with an average tax return amount growing from roughly $4,480.02 in 2012 to approximately $7,842.99 in 2021. This trend may influence investors, potential homeowners, appraisers, and real estate agents, as it could affect property values and the real estate market's overall appeal. The notable jumps, particularly between 2016 and 2019, offer insight into the region's economic adjustments and could also potentially impact insurance rates and property development costs.
Percentage of Farm Returns in Champaign County, IL Over the Last 10 Years
The percentage of farm tax returns in Champaign County, Illinois over the past decade has experienced slight fluctuation but shows an overall gradual decline from 1.51% in 2012 to 1.27% in 2021. Farm tax returns, a crucial indicator of agricultural activity and rural economic health, suggest a subtle downward trend, which might reflect changes in local agricultural productivity, shifting land use, or broader economic conditions. This data could be particularly relevant for potential investors, developers, and new residents considering the long-term viability and economic landscape of Champaign County's agricultural sector.
Number of Mortgages by Occupancy Type in Champaign County, IL Over the Last 5 Years in Champaign County
Over the past five years, principal residences have consistently dominated the mortgage market in Champaign County, Illinois, with figures peaking at around 8,531 mortgages in 2020 and gradually varying down to 5,013 by 2022. Investment properties also showed a steady stream but are nowhere near the scale of principal residence mortgages, hovering around 750 to 950 annually. Changes in occupancy types influence various aspects; for investors, an increase in investment property mortgages might indicate burgeoning rental markets or flipping opportunities. For potential homeowners, strong numbers in principal residency mortgages could be indicative of a robust community appeal. Insurance agents and appraisers can leverage these shifts to inform risk assessments and market evaluations. Real estate agents and builders might find these trends useful in understanding demand dynamics and tailoring their offerings accordingly.
Economic Outlook
In Champaign County, Illinois, the real estate market may be influenced by the steady rise in average taxable income, which jumped from $59,047.53 in 2013 to $82,596.84 in 2021, especially from 2018 onward. However, the concurrent rise in state and local income taxes per tax return, which soared from $5,966.38 in 2012 to a hefty $16,357.80 by 2021, could potentially deter new investors. Meanwhile, a fluctuating poverty rate, recently climbing back to 23.9% in 2022 after a decade low of 19.1% in... Read more
Average Taxable Income per Tax Return in Champaign County, IL over the last 9 years
Over the past nine years, Champaign County, Illinois has seen a consistent increase in the average taxable income per tax return, climbing from approximately $59,047.53 in 2013 to around $82,596.84 in 2021. The rate of growth appears particularly notable in the period from 2018 to 2021, where there seems to be a marked acceleration. This trend could suggest a growing affluence and economic vitality in the area, making it potentially attractive for investors, prospective residents, and those interested in property development.
Average State and Local Income Taxes Per Tax Return in Champaign County, IL Over the Last 10 Years
Over the last decade, Champaign County, Illinois, has seen a significant rise in average state and local income taxes per tax return. Starting around $5,966.38 in 2012, there's been a notable spike, particularly starting in 2018, when taxes jumped to $11,065.04 and then continued to rise, reaching $16,357.80 by 2021. This substantial increase could impact potential investors, property developers, and new residents weighing the tax implications of moving to or investing in the county.
Average Total Tax Liability Per Tax Return in Champaign County, IL Over the Last 10 Years
Champaign County, Illinois has seen a noticeable increase in the average total tax liability per tax return over the past decade, reaching $13,776.48 in 2021. This upward trend suggests a growing financial responsibility among residents, which could be tied to rising incomes or changes in tax policy. Investors and potential homeowners might find this information pertinent when evaluating the area's economic climate and long-term investment potential.
Cost of Living in Champaign County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,336 | $1,496 | $2,580 | $1,533 | $1,720 |
| 1 adult 4 children | $1,336 | $1,222 | $1,986 | $1,533 | $1,735 |
| 2 adults 3 children | $1,336 | $1,222 | $2,231 | $1,533 | $1,418 |
| 1 adult 3 children | $1,336 | $998 | $1,638 | $1,533 | $1,461 |
| 2 adults 2 children | $1,031 | $1,000 | $1,883 | $1,384 | $1,149 |
| 1 adult 2 children | $1,031 | $747 | $1,290 | $1,384 | $1,112 |
| 2 adults 1 child | $1,031 | $791 | $1,535 | $897 | $1,057 |
| 1 adult 1 child | $1,031 | $511 | $942 | $897 | $875 |
| 2 adults | $872 | $635 | $1,187 | $0 | $812 |
| 1 adult | $867 | $346 | $593 | $0 | $649 |
Safety trends & Data
Champaign County, Illinois has seen a notable rise in larceny-theft, from 1 reported case in 2020 to 234 in 2022, while burglary rates and arson have stayed relatively stable. Vandalism incidents dropped from 184 in 2021 to 133 in 2022. This could prompt property owners to invest more heavily in security systems, potentially affecting real estate values and insurance costs in the... Read more
Property Crime Trends in Champaign County, IL Over the Last 3 Years
Champaign County, Illinois has experienced varying trends in property crimes over the past three years, with a notable surge in larceny-theft and stable rates of arson and motor vehicle theft. Larceny-theft incidents jumped from just 1.0 reported case in 2020 to 222.0 in 2021 and further increased to 234.0 in 2022, indicating heightened security concerns for property owners and investors. Burglary rates have slightly risen from 69.0 in 2021 to 70.0 in 2022, while vandalism incidents decreased from 184.0 in 2021 to 133.0 in 2022. This data may suggest a need for increased investment in property security systems and could influence real estate values and insurance premiums across the county.
Demographics
Champaign County, Illinois has a relatively balanced gender distribution, with a slight majority of females. The adult population primarily comprises individuals who have at least a high school diploma, while a significant portion holds a bachelor's degree or higher, hinting at a well-educated community likely influenced by the presence of educational institutions. The age distribution reveals a substantial youth population, particularly between the ages of 20 to 24, reflecting the county's... Read more
Race Distribution in Champaign County, Illinois (2022)
Educational Attainment in Champaign County, Illinois (2022)
Age Distribution in Champaign County, Illinois
Citizen Population in Champaign County, Illinois (2022)
Political Trends & Data
Champaign County, Illinois, leaned predominantly Democratic in the 2020 U.S. Presidential Election, with the party capturing about 60% of the vote. Republicans trailed significantly at roughly 37%, while Libertarians and Green Party candidates each received minor shares near 2% and 1%, respectively. The overall pattern hints at a robust Democratic inclination, potentially influencing local policy and community... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Champaign County, Illinois, the Democratic Party presumably had a significant lead in the 2020 U.S. Presidential Election with roughly 60% of the vote, compared to approximately 37% for the Republican Party. Libertarians and Green Party candidates each garnered minor shares, close to 2% and 1% respectively, while other parties cumulatively accounted for around 0.5%. These trends suggest a strong Democratic preference among voters in this county.
37.09% of voters voted for the Republican party in the 2020 Presidential Election
59.98% of voters voted for the Democrat party in the 2020 Presidential Election
1.58% of voters voted for the Livertarian party in the 2020 Presidential Election
0.79% of voters voted for the Green party in the 2020 Presidential Election
0.55% of voters voted for the Other party in the 2020 Presidential Election
School Data
Champaign County, Illinois, has seen its student-to-teacher ratio fluctuate notably over the past nine years, with a high of 39 students per teacher in 2014 and a recent improvement to around 13 students per teacher in 2023. This shift towards a more favorable learning environment could influence decisions for parents prioritizing school quality, affect long-term property values, and impact risk assessments for insurance agents. For real estate agents and market observers, a steady and lower... Read more
Student-to-teacher ratio in Champaign County, Illinois over the last 9 years
Over the last nine years, Champaign County, Illinois, has seen fluctuating student-to-teacher ratios, with a significant spike in 2014 reaching 39 students per teacher, well above the national average of 14. More recent years show a downward trend, dipping to around 13 students per teacher in 2023, indicating a more favorable learning environment. This variability can impact decisions for parents considering school quality, investors looking at long-term property values, and insurance agents assessing risk. For real estate agents and those interested in the local educational climate, a more stable and lower ratio could signal a strengthening local education system, likely appealing to families and educators alike.
