Ford County Real Estate and Livability Trends
Economic conditions in Ford County, Illinois have been on the rise, with average taxable incomes growing from $53,433.99 in 2013 to $68,355.31 by 2021. This might attract new residents and investors, although higher tax obligations with an average total tax liability of $9,865.70 in 2021 could be a consideration. Real estate trends show median home values reaching $113,400 in 2022 but still... Read more
Ford County Market Trends
Ford County, Illinois, has seen a slight upward trend in median home values, peaking at $113,400 in 2022, which is notably lower compared to the state and national averages. Real estate taxes have risen significantly over the past decade, peaking at approximately $4,825.00 in 2020. There have been remarkable fluctuations in the average residential energy tax credit, with significant spikes in... Read more
Median Value of Occupied Housing Units in Ford County, Illinois Over the Last 8 Years
Ford County, Illinois, has experienced relatively stable yet slightly upward trends in median home values over the last eight years, with a significant peak in 2022 at $113,400. This contrasts with broader state trends, where Illinois saw considerable increases, reaching $239,100 in 2022. Nationally, the median home value also surged to $179,400 in 2022. If you're contemplating real estate investments or a move to Ford County, the relatively lower home values compared to state and national averages could present potential affordability benefits, but may also suggest slower property appreciation.
Residential Energy Tax Credit Per Tax Return in Ford County, IL Over the Last 8 Years
The average residential energy tax credit per tax return in Ford County, Illinois has shown remarkable fluctuations over the past eight years, with significant spikes in 2019 ($2,120.00) and 2020 ($1,937.50), compared to more modest figures in earlier years like 2014 ($225.00). These high average credits in recent years possibly suggest increased investment in energy-efficient home improvements or a shift in local or state policies incentivizing such upgrades. For those looking to invest or build property in this area, these trends might indicate a growing focus on sustainable living and potential financial benefits from energy-saving initiatives.
Average Real Estate Taxes Per Tax Return in Ford County, IL Over the Last 10 Years
Real estate taxes in Ford County, Illinois have shown a steady upward trend over the past decade, starting around $3,392.13 in 2012 and peaking at approximately $4,825.00 in 2020. Although there's been a slight decrease to $4,566.67 in 2021, the overall increase may indicate rising property values or changing fiscal policies. These increments could impact decisions for potential investors, homebuyers, and real estate professionals considering the county. This trend might also influence how appraisers and insurance agents assess property-related risks and costs in the area.
Percentage of Farm Returns in Ford County, IL Over the Last 10 Years
Over the past 10 years, farm tax returns in Ford County, Illinois, have shown a relatively stable trend hovering around 6.5%. These returns represent the percentage of farming operations that are profitable enough to file tax returns, crucial for indicating the health of the agricultural sector. In 2015 and 2018, there were slight upticks to approximately 6.79% and 6.83%, respectively, suggesting better-than-usual farming conditions or market prices during those years. Conversely, the percentage dipped to its lowest at around 6.04% in 2020, possibly reflecting challenging economic or environmental conditions. For potential investors and those considering relocating or building in Ford County, these metrics offer insights into the stability and viability of engaging in agricultural activities within the region.
Number of Mortgages by Occupancy Type in Ford County, IL Over the Last 5 Years in Ford County
In Ford County, Illinois, the number of mortgages for principal residences has shown an uptick, peaking at 576 in 2020, while investment properties saw a decline from 36 in 2018 to 24 in 2022. Similar trends were observed for second residences, dropping from 9 in 2018 to 4 by 2021. These shifts could potentially signal market adjustments or economic factors influencing the local real estate landscape. Understanding these patterns matters for investors and developers planning projects, as the demand dynamics might shift their strategies. Appraisers and insurance agents also need this information to accurately assess risk and property values. For residents and real estate agents, it provides insight into the evolution of the local housing market.
Economic Outlook
Ford County, Illinois has seen a steady rise in average taxable income per tax return, increasing from about $53,433.99 in 2013 to approximately $68,355.31 by 2021, reflecting improving economic conditions that could attract investors and new residents. State and local income taxes have also fluctuated, peaking at $6,553.33 in 2021 after a previous high in 2020. The average total tax liability per tax return has hovered around $8,000 but spiked to $9,865.70 in 2021, indicating potentially... Read more
Average Taxable Income per Tax Return in Ford County, IL over the last 9 years
Over the past nine years, Ford County, Illinois has experienced a steady increase in average taxable income per tax return, moving from around $53,433.99 in 2013 to approximately $68,355.31 by 2021. This upward trend suggests improving economic conditions in the area, which could make it an attractive option for potential investors, new residents, and property developers. While there have been minor fluctuations, the overall growth trajectory indicates a positive economic sentiment and potentially increasing property values, making it worth consideration for those interested in the county's economic health.
Average State and Local Income Taxes Per Tax Return in Ford County, IL Over the Last 10 Years
Over the past decade, Ford County, Illinois has seen fluctuations in average state and local income taxes per tax return, peaking at $6,553.33 in 2021 after a previous high of $6,541.18 in 2020. Notably, there were significant declines in 2015 and 2016, but the trend has been mostly upward since then. For those considering investing, moving, or building in Ford County, understanding this tax landscape is crucial as it impacts disposable income.
Average Total Tax Liability Per Tax Return in Ford County, IL Over the Last 10 Years
Over the past decade, the average total tax liability per tax return in Ford County, Illinois has exhibited notable fluctuations. While the average liability generally hovered around the $8,000 mark, there was a significant spike in 2021, reaching approximately $9,865.70. This upward trend in recent years might suggest a need for prospective property investors or residents to account for higher tax obligations moving forward.
Cost of Living in Ford County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $964 | $1,496 | $2,569 | $1,058 | $1,464 |
| 1 adult 4 children | $964 | $1,222 | $1,970 | $1,058 | $1,465 |
| 2 adults 3 children | $964 | $1,222 | $2,227 | $1,058 | $1,171 |
| 1 adult 3 children | $964 | $998 | $1,627 | $1,058 | $1,177 |
| 2 adults 2 children | $792 | $1,000 | $1,884 | $959 | $1,028 |
| 1 adult 2 children | $792 | $747 | $1,285 | $959 | $934 |
| 2 adults 1 child | $792 | $791 | $1,541 | $640 | $976 |
| 1 adult 1 child | $792 | $511 | $942 | $640 | $785 |
| 2 adults | $607 | $635 | $1,199 | $0 | $780 |
| 1 adult | $595 | $346 | $599 | $0 | $599 |
Safety trends & Data
Ford County, Illinois has witnessed shifting property crime trends in the past two years. In 2021, stolen property incidents were at 3.0, while 2022 saw a diversification in crime types with 1.0 burglary, 2.0 larceny-theft, 1.0 fraud, and 3.0 vandalism cases. These evolving patterns may impact real estate agent strategies, property insurance rates, and community safety... Read more
Property Crime Trends in Ford County, IL Over the Last 2 Years
Ford County, Illinois has seen variations in property crime trends over the past two years. In 2021, incidents of stolen property, including buying, receiving, and possessing, were tallied at 3.0 occurrences. However, by 2022, attention shifted with burglary incidents recording at 1.0, larceny-theft at 2.0, fraud cases at 1.0, and vandalism topping the list at 3.0 occurrences. These fluctuations could suggest evolving crime patterns, which might influence decisions for real estate agents, insurance rates for property owners, and the broader community's perception of safety.
Demographics
In Ford County, Illinois, there’s a subtle but clear gender balance among the adult population, with slightly more females (5217) than males (5061). The educational landscape reveals that a sizable portion of residents have completed high school or some college but fewer hold advanced degrees. Age-wise, the population skews older, with significant numbers in the 55 to 64 and 65 to 74 age brackets. Racial diversity is limited, with a predominant White population and minimal representation from... Read more
Race Distribution in Ford County, Illinois (2022)
Educational Attainment in Ford County, Illinois (2022)
Age Distribution in Ford County, Illinois
Citizen Population in Ford County, Illinois (2022)
Political Trends & Data
Ford County, Illinois, showed a striking Republican preference in the 2020 U.S. Presidential Election, with nearly 73% of votes going to the Republican candidate. The Democratic candidate received around 25%, suggesting a considerable gap. Minor parties, such as the Libertarian and Green parties, received minimal support, hinting at a voter focus on the primary two-party system and potential strong Republican influence in local political... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Ford County, Illinois, displayed a significant lean towards the Republican party in the 2020 U.S. Presidential Election, with nearly 73% of the vote. The Democratic party, meanwhile, garnered around 25%, showing a considerable gap between the two major parties. Minor parties like the Libertarian and Green parties captured minimal support, highlighting a potential voter focus on the primary two-party system. This distribution possibly indicates strong Republican influence in local political culture and voter priorities.
72.60% of voters voted for the Republican party in the 2020 Presidential Election
25.23% 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
0.56% of voters voted for the Green party in the 2020 Presidential Election
0.17% of voters voted for the Other party in the 2020 Presidential Election
School Data
Ford County, Illinois has experienced a gradual decrease in student-to-teacher ratios over the past nine years, dipping from just above the national average of 14 students per teacher to around 11 by 2023. This shift may suggest an emphasis on smaller class sizes, potentially enhancing educational quality and student outcomes. For investors or potential residents, this focus on education could be appealing, possibly boosting property values due to the higher demand in areas with good schools.... Read more
Student-to-teacher ratio in Ford County, Illinois over the last 9 years
Ford County, Illinois has seen a gradual decrease in the student-to-teacher ratio over the past nine years, dropping from just above the national average of 14 students per teacher to around 11 students per teacher by 2023. This trend might suggest a focus on smaller class sizes, potentially providing more individualized attention to students and improved educational outcomes. For those looking to invest or move into the area, this could be an attractive factor, indicating a commitment to quality education. This can also influence property values positively, as better school performance often translates to higher demand in real estate, making it noteworthy for appraisers, real estate agents, and builders as well. Additionally, insurance agents might consider this data when assessing risk, as areas with strong school systems can sometimes correlate with lower overall claims and higher community stability.
