Fayette County Real Estate and Livability Trends
Fayette County, Illinois, has seen a notable rise in average taxable income from $44,042.62 in 2013 to $60,079.67 in 2021, suggesting increasing economic opportunities. Median home values jumped from $82,400 in 2015 to $111,500 in 2022, making the area still affordable compared to state and national averages. Real estate taxes rose from $2,530.77 in 2012 to $3,647.37 in 2021, reflecting growing... Read more
Fayette County Market Trends
In Fayette County, Illinois, median home values have surged from $82,400 in 2015 to $111,500 in 2022, showcasing notable growth, though still affordable compared to Illinois's state and national median values. Residential energy tax credits have shown dramatic spikes, peaking at $2,725.00 per tax return in 2019, indicating a possible shift towards renewable energy investments. Real estate taxes... Read more
Median Value of Occupied Housing Units in Fayette County, Illinois Over the Last 8 Years
Fayette County, Illinois has experienced a remarkable increase in median home values over the past eight years, climbing from $82,400 in 2015 to $111,500 in 2022. This local trend contrasts sharply with both the statewide and national figures. Illinois as a whole saw median home values rise from $173,800 to $239,100 over the same period, whereas the national median increased from $125,500 to $179,400. Although Fayette County's growth might appear more conservative, the affordability aspect relative to the state and national medians could make it an attractive option for potential homebuyers and investors seeking lower entry points in Illinois.
Residential Energy Tax Credit Per Tax Return in Fayette County, IL Over the Last 8 Years
Fayette County, Illinois has witnessed significant fluctuations in residential energy tax credits over the past eight years. Between 2013 and 2016, there was a steady increase from $335.29 to $864.71, reflecting possible incentives for energy-efficient investments. However, a dramatic spike occurred in 2019, reaching an average of $2,725.00 per tax return, which could indicate a surge in renewable energy adoptions or upgrades. Although there was a slight dip in 2020 to $1,970.00, the credits remained relatively high in 2021 at $2,022.22. Such trends could be of interest to investors, property developers, and real estate agents considering the area's commitment to energy efficiency, which may enhance property values and appeal to environmentally conscious buyers.
Average Real Estate Taxes Per Tax Return in Fayette County, IL Over the Last 10 Years
Over the past decade, Fayette County, Illinois has experienced a noticeable increase in real estate taxes per tax return, starting from around $2,530.77 in 2012 to roughly $3,647.37 in 2021. This upward trend may indicate growing property values and a robust local economy, which could be appealing to potential investors and developers. However, for homebuyers and current residents, higher taxes could influence decisions regarding property affordability and budgeting. Calculating these factors accurately is crucial for real estate agents, appraisers, and insurance agents working in the area.
Percentage of Farm Returns in Fayette County, IL Over the Last 10 Years
Fayette County, Illinois has seen the percentage of farm tax returns fluctuate slightly over the past decade. From a high of 10.71% in 2015, there's been a modest decline, reaching 9.61% in 2020 before a slight uptick to 9.89% in 2021. Farm tax returns reflect the economic activity and profitability within the agricultural sector, which might be useful for investors assessing the stability and potential growth in this region. These trends could be indicative of broader economic conditions affecting farming in Fayette County, useful for anyone looking to invest, move to, or develop property in the area.
Number of Mortgages by Occupancy Type in Fayette County, IL Over the Last 5 Years in Fayette County
Mortgage trends in Fayette County, Illinois, show a notable focus on principal residences over the past five years, with a substantial peak in 2020 at 723 mortgages. Investment properties and second residences exhibit much lower and relatively stable numbers, hovering around 30 and single digits respectively. These changes in occupancy type provide crucial insights for potential investors, developers, and real estate agents, as they highlight the dominant demand for primary homes. This can influence pricing strategies, development plans, and risk assessments. Appraisers and insurance agents might also find this information pivotal in evaluating property values and insurance risks within the county.
Economic Outlook
Fayette County, Illinois has experienced a notable rise in average taxable income per tax return from approximately $44,042.62 in 2013 to about $60,079.67 in 2021, hinting at increasing economic opportunities. Meanwhile, average state and local income taxes have risen sharply since 2018, reaching $7,561.11 in 2021. These growing fiscal pressures are balanced by the improving financial health of residents, evidenced by the fluctuating total tax liability, which peaked at $8,006.55 in 2021. This... Read more
Average Taxable Income per Tax Return in Fayette County, IL over the last 9 years
Fayette County, Illinois has seen a notable increase in average taxable income per tax return over the past nine years, with a jump from approximately $44,042.62 in 2013 to about $60,079.67 in 2021. This upward trend could indicate growing economic opportunities in the area, making it potentially attractive for investors and families considering relocation. The steady rise, particularly the significant uptick in recent years, suggests improving financial health among residents, which might be a key factor for those interested in building property or starting new businesses in the county.
Average State and Local Income Taxes Per Tax Return in Fayette County, IL Over the Last 10 Years
Over the past decade in Fayette County, Illinois, average state and local income taxes per tax return have generally increased, rising from $4,825.69 in 2012 to a notable $7,561.11 in 2021. This upward trend, peaking sharply since 2018, reflects increasing financial obligations for residents, which could impact decisions around relocating, investing, or developing property in the area. This trend is particularly relevant for anyone evaluating the economic landscape of Fayette County as it hints at growing fiscal pressures on individuals and families.
Average Total Tax Liability Per Tax Return in Fayette County, IL Over the Last 10 Years
Fayette County, Illinois has seen fluctuations in average total tax liability per tax return over the past decade, with amounts generally oscillating around $6,500. Although there was some consistency, a notable peak came in 2021, reaching $8,006.55, suggesting potential economic changes or policy impacts. If you're considering investing, relocating, or building property in this area, understanding these tax liability trends could prove essential for financial planning and forecasting future tax burdens.
Cost of Living in Fayette County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $951 | $1,315 | $2,902 | $1,058 | $1,484 |
| 1 adult 4 children | $951 | $1,074 | $2,227 | $1,058 | $1,507 |
| 2 adults 3 children | $951 | $1,074 | $2,514 | $1,058 | $1,214 |
| 1 adult 3 children | $951 | $877 | $1,839 | $1,058 | $1,214 |
| 2 adults 2 children | $774 | $879 | $2,126 | $959 | $1,056 |
| 1 adult 2 children | $774 | $657 | $1,451 | $959 | $963 |
| 2 adults 1 child | $774 | $695 | $1,738 | $640 | $1,001 |
| 1 adult 1 child | $774 | $449 | $1,063 | $640 | $790 |
| 2 adults | $670 | $558 | $1,350 | $0 | $813 |
| 1 adult | $567 | $305 | $675 | $0 | $616 |
Safety trends & Data
Property crime in Fayette County, Illinois, experienced notable changes over the past two years. Vandalism incidents surged from 1.0 in 2021 to 5.0 in 2022, while Motor Vehicle Theft doubled to 2.0 within the same period. Larceny-Theft remained consistent at 1.0 occurrence in 2022. These fluctuating crime trends could provide valuable context for potential investors, homebuyers, and industry professionals, hinting at possible shifts in community safety and property value... Read more
Property Crime Trends in Fayette County, IL Over the Last 2 Years
Property crime in Fayette County, Illinois has shown interesting patterns over the last two years. Vandalism incidents have seen a noticeable uptick, jumping from 1.0 in 2021 to 5.0 in 2022. In contrast, Larceny-Theft remained steady at 1.0 occurrence in 2022, while Motor Vehicle Theft incidents doubled to 2.0 in the same year. This variability in crime trends might offer crucial insights for potential investors, homebuyers, and industry professionals, indicating possible shifts in community safety and property value stability.
Demographics
In Fayette County, Illinois, there's a slight male majority in the adult population, with men accounting for roughly 9,038 individuals compared to 7,931 women. Educational attainment shows a concentrated high school graduate base, but a notable portion has some college education or associate degrees. Residents aged 55 to 64 years form the largest age group, which may influence local policies and services. The racial composition is predominantly White, and though other racial groups are... Read more
Race Distribution in Fayette County, Illinois (2022)
Educational Attainment in Fayette County, Illinois (2022)
Age Distribution in Fayette County, Illinois
Citizen Population in Fayette County, Illinois (2022)
Political Trends & Data
Fayette County, Illinois, tends to lean heavily Republican in the political landscape, evidenced by the 2020 U.S. Presidential Election where approximately 80% of the votes probably went to GOP candidates. Democratic candidates captured around 18%, whilst third-party and other smaller parties collectively gathered less than 2%. This trend portrays Fayette County as a predominantly Republican area, though there is a detectable, albeit minimal, presence of other political... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Fayette County, Illinois, saw a substantial sway towards Republican candidates in the 2020 U.S. Presidential Election, with around 80% of the votes likely going to the GOP. Democratic support was relatively minor, garnering nearly 18%, while third-party candidates such as Libertarians and Greens barely made a dent, securing about 1% and 0.4%, respectively. Other parties combined received less than 0.3%. These figures could suggest that Fayette County stands as a solid Republican stronghold with a limited but existent diversity in political affiliations.
80.10% of voters voted for the Republican party in the 2020 Presidential Election
18.16% of voters voted for the Democrat party in the 2020 Presidential Election
1.12% of voters voted for the Livertarian party in the 2020 Presidential Election
0.36% of voters voted for the Green party in the 2020 Presidential Election
0.26% of voters voted for the Other party in the 2020 Presidential Election
School Data
The student-to-teacher ratio in Fayette County, Illinois, has notably decreased from about fifteen in 2014 to around ten by 2023, significantly below the national average of fourteen. This indicates potentially smaller class sizes and more personalized attention for students. For investors and those considering relocating, this could suggest a more favorable educational environment, possibly enhancing property values and community appeal. Lower student-to-teacher ratios can also hint at a... Read more
Student-to-teacher ratio in Fayette County, Illinois over the last 9 years
The student-to-teacher ratio in Fayette County, Illinois has seen notable fluctuations over the past nine years, with a high of about fifteen in 2014 dropping to around ten by 2023. The current ratio of roughly ten students per teacher is significantly below the national average of fourteen, potentially indicating smaller class sizes and more personalized attention for students. For investors, real estate agents, and those considering relocating, this could suggest a more favorable educational environment, which might enhance property values and community appeal. Lower student-to-teacher ratios can also imply a higher quality of education, impacting long-term community growth and development.
