Cook County Real Estate and Livability Trends
In Cook County, Illinois, the average taxable income has risen significantly over the past nine years, hitting approximately $106,613.98 in 2021. Yet, rising average state and local income taxes, now at $20,736.40, might suggest a heavier tax burden. Median home values have surged to $293,700 in 2022, while real estate taxes reached $10,118.16 in 2021, potentially impacting property owners.... Read more
Cook County Market Trends
Over the last eight years, median home values in Cook County, Illinois have surged from $218,700 in 2015 to $293,700 in 2022, outperforming state and national increases. Residential energy tax credits peaked at $2,163.71 per tax return in 2018, highlighting a local trend toward energy-efficient improvements. Real estate taxes have steadily risen, reaching $10,118.16 in 2021, posing a potential... Read more
Median Value of Occupied Housing Units in Cook County, Illinois Over the Last 8 Years
Over the last eight years, the median home values in Cook County, Illinois, have seen a significant rise, moving from $218,700 in 2015 to $293,700 in 2022. This upward trend outpaces the state's median home values, which rose from $173,800 to $239,100 during the same period. When compared to the national figures, where the median value increased from $125,500 to $179,400, Cook County's growth appears even more robust. For investors, homeowners, or anyone eyeing real estate in Cook County, this data suggests a potentially higher appreciation rate, making it a potentially lucrative market.
Residential Energy Tax Credit Per Tax Return in Cook County, IL Over the Last 9 Years
Residential energy tax credits in Cook County, Illinois have shown a notable upward trajectory over the past nine years, peaking significantly in 2018 at $2,163.71 per tax return before stabilizing around the $1,200 mark in the subsequent years. This suggests a growing investment in energy-efficient improvements by residents, potentially reflecting rising awareness and incentives for sustainable living. For investors and real estate agents, this trend might indicate a local market increasingly favoring properties with energy-efficient upgrades, likely enhancing property values and desirability. Appraisers and insurance agents too might consider these trends when assessing property valuations and risk profiles.
Average Real Estate Taxes Per Tax Return in Cook County, IL Over the Last 10 Years
Real estate taxes in Cook County, Illinois, have been on a steady upward trajectory over the last decade, highlighting a significant increase from $6,320.65 in 2012 to $10,118.16 in 2021 per tax return. This consistent rise may signal the growing cost burden on property owners, which could impact decisions for potential investors and homebuyers looking at long-term financial commitments. Notably, from 2017 onwards, there was a substantial spike, suggesting possible changes in tax policies or assessments. This trend is essential for real estate agents, appraisers, and insurers to consider when evaluating property values and risks in the area.
Percentage of Farm Returns in Cook County, IL Over the Last 10 Years
Farm tax returns in Cook County, Illinois have seen a gradual decline over the past decade, moving from approximately 0.062% in 2012 to around 0.044% in 2021. This could suggest a decrease in agricultural activities, which might be significant for those interested in rural property investments or farming opportunities. Potential investors and residents should consider the implications of this trend, as it may affect land use policies, rural development, and local agricultural markets. For those looking to build properties or invest in this region, understanding these nuances could provide valuable insights into future property values and community priorities.
Number of Mortgages by Occupancy Type in Cook County, IL Over the Last 5 Years in Cook County
Over the last five years, Cook County has seen fluctuations in mortgage counts across various occupancy types, with Principal Residence mortgages consistently leading in volume. Notably, the number of mortgages for Principal Residences peaked significantly in 2020 and 2021, indicating heightened market activity or possibly favorable conditions for homebuyers during those years. Investment Property mortgages also reflect an upward trend until 2021, suggesting a growing interest in rental or resale opportunities. However, there's a noticeable decline in 2022 across all occupancy categories. For investors, this might indicate market cooling or shifts in investment strategies. Real estate agents and appraisers should pay attention to these changes, as they influence property values, market demand, and risk assessments. Insurance agents, too, might find these data points useful for understanding regional trends and adjusting premiums accordingly. These shifts are crucial for anyone considering moving to or investing in Cook County, as they impact housing availability, affordability, and investment potential.
Economic Outlook
Over the past nine years, Cook County, Illinois has seen the average taxable income per tax return rise from around $67,713.35 in 2013 to approximately $106,613.98 in 2021, despite some fluctuations, suggesting potential economic growth and better job opportunities. However, average state and local income taxes have sharply increased since 2018, hitting $20,736.40 in 2021, which might indicate a heavier tax burden. This could impact financial planning for both investors and residents. Finally,... Read more
Average Taxable Income per Tax Return in Cook County, IL over the last 9 years
Over the past nine years, Cook County, Illinois has seen a generally upward trend in the average taxable income per tax return, rising from around $67,713.35 in 2013 to approximately $106,613.98 in 2021. Notably, there were some fluctuations, with a slight dip in 2019 before a significant jump in 2021. This trend can suggest growing economic opportunities or changes in the local job market. For investors, this might indicate a robust economic environment, potentially making the region an attractive area for real estate development and other investments. Those considering moving to or building property in Cook County might be reassured by these indicators of economic stability and growth.
Average State and Local Income Taxes Per Tax Return in Cook County, IL Over the Last 10 Years
Over the past decade, average state and local income taxes per tax return in Cook County, Illinois, have seen significant fluctuations. Notably, from 2018 onwards, there has been a sharp increase, culminating in $20,736.40 in 2021. This spike may indicate a rising tax burden or changing economic conditions affecting taxpayers. Investors, residents, or anyone with interest in Cook County should be aware of these trends as they reflect broader fiscal policies and economic shifts that could impact financial planning and living expenses.
Average Total Tax Liability Per Tax Return in Cook County, IL Over the Last 10 Years
Over the past decade, Cook County, Illinois has seen a notable increase in average total tax liability per tax return, climbing from approximately $14,110.54 in 2012 to $22,329.31 in 2021. While there were some minor fluctuations, the overall trend points to a steady rise, particularly sharp post-2018. This could suggest growing incomes or changes in tax policies affecting residents. For those considering investing, moving, or building property in Cook County, understanding these trends may provide insight into the economic environment and potential future financial obligations.
Cost of Living in Cook County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,791 | $1,641 | $1,593 | $2,027 | $1,769 |
| 1 adult 4 children | $1,791 | $1,340 | $1,224 | $2,027 | $1,886 |
| 2 adults 3 children | $1,791 | $1,340 | $1,379 | $2,027 | $1,525 |
| 1 adult 3 children | $1,791 | $1,094 | $1,010 | $2,027 | $1,651 |
| 2 adults 2 children | $1,412 | $1,097 | $1,165 | $1,806 | $1,225 |
| 1 adult 2 children | $1,412 | $820 | $797 | $1,806 | $1,257 |
| 2 adults 1 child | $1,412 | $867 | $952 | $1,089 | $1,073 |
| 1 adult 1 child | $1,412 | $560 | $583 | $1,089 | $965 |
| 2 adults | $1,230 | $697 | $738 | $0 | $803 |
| 1 adult | $1,135 | $380 | $369 | $0 | $669 |
Safety trends & Data
Property crime in Cook County, Illinois has seen some major shifts over the past few years, with a sharp dip in 2020 likely due to the pandemic, followed by a noticeable rebound in 2021 and 2022. Larceny-theft remains the most common crime, though incidents dropped from 9,024 in 2018 to 3,780 in 2022. Burglary and vandalism have shown rising trends, reaching 444 and 1,384 cases respectively by 2022. For investors, real estate agents, and potential residents, these patterns are crucial for... Read more
Property Crime Trends in Cook County, IL Over the Last 4 Years
Property crime in Cook County, Illinois has seen notable fluctuations over the past four years. There was a dramatic drop in reported crimes in 2020, likely influenced by the pandemic, but numbers rebounded significantly in 2021 and 2022. Larceny-theft consistently remains the most frequently reported crime, with a high of 9,024 incidents in 2018 and 3,780 in 2022. Burglary and vandalism also show rising trends, reaching 444 and 1,384 cases respectively by 2022. For potential investors, real estate agents, and those considering moving to the area, understanding these crime trends is crucial for risk assessment and property valuation.
Demographics
In Cook County, Illinois, the adult population is fairly balanced between males and females, with a slight female majority. The county's educational attainment reveals a significant number of residents with college experience, though many have not completed a degree. Age distribution highlights a solid working-age population, primarily those aged 25-34 years. Racially, the county is predominantly White, with significant African American and Asian communities, along with a notable representation... Read more
Race Distribution in Cook County, Illinois (2022)
Educational Attainment in Cook County, Illinois (2022)
Age Distribution in Cook County, Illinois
Citizen Population in Cook County, Illinois (2022)
Political Trends & Data
Cook County, Illinois, which includes much of Chicago, leaned heavily Democratic in the 2020 Presidential Election, with around 74% of the vote going to Democrats and about 24% to Republicans. Minor parties played a minimal role, showing the county remains chiefly a two-party arena. This trend likely mirrors urban voting habits common in metropolitan... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Cook County, Illinois showed a significant lean towards the Democratic party in the 2020 Presidential Election, with Democrats accounting for approximately 74% of the vote. Republicans garnered about 24%, indicating a pronounced political divide. Minor parties like the Libertarians and Greens, along with other affiliations, collectively made up a small fraction of the electorate, suggesting that the county remains primarily a two-party battleground. This trend might reflect urban voting patterns, as Cook County encompasses a large part of Chicago.
24.05% of voters voted for the Republican party in the 2020 Presidential Election
74.35% of voters voted for the Democrat party in the 2020 Presidential Election
0.76% of voters voted for the Livertarian party in the 2020 Presidential Election
0.53% of voters voted for the Green party in the 2020 Presidential Election
0.31% of voters voted for the Other party in the 2020 Presidential Election
School Data
In Cook County, Illinois, the student-to-teacher ratio has seen substantial changes over the past nine years, peaking at around 24 in 2017 and recently decreasing to just over 15 in 2023. Considering the national average is at 14 students per teacher, Cook County's current figures indicate a relative improvement. This evolution could signal demographic shifts or changes in educational funding and policy, potentially influencing property values and housing demand. Lower ratios could be a... Read more
Student-to-teacher ratio in Cook County, Illinois over the last 9 years
In Cook County, Illinois, the student-to-teacher ratio has fluctuated significantly over the past nine years, peaking at around 24 in 2017 and most recently decreasing to just over 15 in 2023. For investors, an evolving student-to-teacher ratio could signal demographic shifts or changes in educational funding and policy within the county, potentially impacting property values and demand for housing. Real estate agents and appraisers might view a lower ratio as a positive marker of increased educational quality, appealing to young families. With the national average standing at 14 students per teacher, Cook County's recent numbers hover close, suggesting a relative improvement compared to earlier years. This dynamic is key for insurance agents to assess risk profiles for homes and for developers aiming to cater to prospective residents prioritizing educational standards.
