Hancock County Real Estate and Livability Trends
Hancock County, Illinois, has experienced notable financial and real estate trends. Average taxable income per return has increased significantly, hinting at better economic opportunities and appealing to potential residents and investors. Rising property taxes and average total tax liabilities reflect either higher incomes or evolving tax policies, affecting long-term financial planning. While... Read more
Hancock County Market Trends
In Hancock County, Illinois, median home values have been steadily rising, reaching $104,200 in 2022, although this growth lags behind Illinois' $239,100 and the national median of $179,400. The fluctuating yet increasing residential energy tax credits, peaking at $3,675.00 in 2018, could attract those interested in energy-efficient home upgrades. Property taxes have also increased notably, from... Read more
Median Value of Occupied Housing Units in Hancock County, Illinois Over the Last 8 Years
The median home values in Hancock County, Illinois have seen a steady upward trend over the past eight years, reaching $104,200 in 2022. This local market exhibits slower growth compared to the state of Illinois, where median values surged to $239,100, and the national level, which hit $179,400 in 2022. For those looking to invest in property in Hancock County, this slower value increase could represent a lower barrier to entry. Conversely, if you're already a homeowner, the significant value gap relative to statewide and national trends might suggest less immediate equity gain.
Residential Energy Tax Credit Per Tax Return in Hancock County, IL Over the Last 9 Years
Over the past nine years, Hancock County, Illinois, has seen fluctuating yet markedly increasing average residential energy tax credits per tax return. Despite some highs and lows, the general trend points towards larger credits in recent years, peaking drastically in 2018 at $3,675.00. This could suggest growing incentives for energy-efficient home improvements or installations, which might be appealing for potential investors, property developers, and current homeowners looking to upgrade. Real estate agents and appraisers might also find this trend of interest for highlighting potential cost savings in energy efficiency to clients.
Average Real Estate Taxes Per Tax Return in Hancock County, IL Over the Last 10 Years
Over the past decade, average real estate taxes per tax return in Hancock County, Illinois, have shown a general upward trend, rising from $2,526.67 in 2012 to as high as $3,900.00 in 2020 before a slight dip to $3,731.58 in 2021. Investors and potential homeowners who are considering Hancock County should be aware of the generally increasing property tax rates, which could impact long-term financial planning. For insurance agents and appraisers, this information might suggest a growing tax burden on properties which can influence overall property valuations and insurance premiums.
Percentage of Farm Returns in Hancock County, IL Over the Last 10 Years
There has been a noticeable decline in farm tax returns in Hancock County, Illinois over the past decade. From approximately 11.20% in 2012, the percentage dipped to around 10.65% by 2021, with minor fluctuations along the way. These farm tax returns are crucial data points for gauging the agricultural sector's health, economic contributions, and potential investment opportunities. For those looking to invest, move to, or build property in Hancock County, this trend may suggest subtle shifts in the agricultural landscape, possibly hinting at broader economic changes or policy impacts in the region.
Number of Mortgages by Occupancy Type in Hancock County, IL Over the Last 5 Years in Hancock County
Mortgage counts in Hancock County, Illinois, over the past five years reveal key trends in the type of occupancy. Principal residences dominated the market, with numbers peaking at 570 in 2020 and then declining to 366 in 2022. Investment properties stayed relatively steady, averaging around 28 annually, while second residences saw minimal activity, generally hovering in the single digits. These shifts in occupancy types are essential for potential investors, appraisers, and real estate professionals to consider, as they suggest fluctuating demands and could influence pricing, insurance risk assessments, and overall market strategy for the area.
Economic Outlook
Hancock County, Illinois, has seen a rise in average taxable income per tax return, climbing from $48,746.33 in 2013 to $64,863.81 in 2021. This could indicate better economic opportunities and attract new residents or investors. Meanwhile, fluctuating state and local income taxes, peaking at $12,627.78 in 2021, suggest shifts in economic policy that might impact property values and investment prospects. Additionally, an upward trend in average total tax liability per tax return, reaching... Read more
Average Taxable Income per Tax Return in Hancock County, IL over the last 9 years
Hancock County, Illinois has seen a noticeable upward trend in average taxable income per tax return over the past nine years, starting from $48,746.33 in 2013 to $64,863.81 in 2021. This steady increase might be indicative of economic improvements or higher earning opportunities in the area, which could appeal to potential investors or new residents. The most significant jump occurred between 2020 and 2021, suggesting a recent boost in economic conditions.
Average State and Local Income Taxes Per Tax Return in Hancock County, IL Over the Last 10 Years
Over the past decade, Hancock County, Illinois has experienced significant fluctuations in average state and local income taxes per tax return. The values peaked dramatically in 2021 at $12,627.78, following a gradual increase from $4,983.70 in 2012 to $7,547.62 in 2019, and followed by a notable jump in 2018 and 2019. This trend suggests economic changes and policy shifts that could affect everything from property values to local investments. These swings are crucial for potential investors and residents who need to consider tax rates as a factor in their financial planning.
Average Total Tax Liability Per Tax Return in Hancock County, IL Over the Last 10 Years
In Hancock County, Illinois, the average total tax liability per tax return has shown a general increase over the past decade. Starting at approximately $6,755.57 in 2012, there have been some fluctuations, but the trend has been upward, peaking sharply in 2021 at around $9,306.92. This gradual rise indicates potential growth in income levels or shifts in tax policies, factors that could be vital for investors, prospective property owners, and current residents to consider when evaluating the economic landscape and fiscal stability of the region.
Cost of Living in Hancock County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,032 | $1,408 | $2,329 | $1,058 | $1,372 |
| 1 adult 4 children | $1,032 | $1,149 | $1,784 | $1,058 | $1,425 |
| 2 adults 3 children | $1,032 | $1,150 | $2,019 | $1,058 | $1,127 |
| 1 adult 3 children | $1,032 | $939 | $1,474 | $1,058 | $1,158 |
| 2 adults 2 children | $774 | $941 | $1,709 | $959 | $978 |
| 1 adult 2 children | $774 | $703 | $1,164 | $959 | $892 |
| 2 adults 1 child | $774 | $744 | $1,399 | $640 | $938 |
| 1 adult 1 child | $774 | $481 | $854 | $640 | $753 |
| 2 adults | $644 | $598 | $1,089 | $0 | $757 |
| 1 adult | $531 | $326 | $545 | $0 | $581 |
Demographics
Hancock County, Illinois, presents a nearly equal gender distribution among its adult population, with males and females making up 6889 and 6911 of the population, respectively. Education levels show a significant portion achieving high school diplomas or some college experience, but fewer attaining higher degrees like bachelor's or graduate degrees. Age-wise, the county skews older, with substantial populations in the 45-54 and 55-64 age brackets, hinting at potential future demands for senior... Read more
Race Distribution in Hancock County, Illinois (2022)
Educational Attainment in Hancock County, Illinois (2022)
Age Distribution in Hancock County, Illinois
Citizen Population in Hancock County, Illinois (2022)
Political Trends & Data
Hancock County, Illinois, leaned strongly Republican in the 2020 U.S. Presidential Election, with around 74% of votes possibly going to the GOP. Democrats captured roughly 25% of the vote, and minor parties like the Libertarians and Greens had minimal influence. This trend aligns with patterns often observed in smaller counties where major parties... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Hancock County, Illinois, showed a significant leaning toward the Republican party in the 2020 U.S. Presidential Election, with possibly around 74% of votes cast in their favor. Democrats trailed considerably, garnering approximately 25% of the vote. Minor parties like the Libertarians and Greens had a minimal impact, reflecting typical trends in smaller counties where major party dominance is common.
73.60% of voters voted for the Republican party in the 2020 Presidential Election
24.67% of voters voted for the Democrat party in the 2020 Presidential Election
1.21% of voters voted for the Livertarian party in the 2020 Presidential Election
0.37% of voters voted for the Green party in the 2020 Presidential Election
0.14% of voters voted for the Other party in the 2020 Presidential Election
School Data
In Hancock County, Illinois, the student-to-teacher ratio has stayed below the national average of 14 students per teacher over the past nine years, often landing around 12. With lows of approximately 11 in 2019 and 2022, this trend suggests a more individualized education approach, potentially making the area appealing for families. For real estate stakeholders, this could influence property values and insurance rates due to possible demand for homes in areas with favorable school metrics.... Read more
Student-to-teacher ratio in Hancock County, Illinois over the last 9 years
In Hancock County, Illinois, the student-to-teacher ratio has generally trended below the national average of 14 students per teacher over the past nine years. While there was a slight increase in 2015 and a notable dip in 2017, the ratio has mostly hovered around 12 students per teacher, with a low of around 11 in 2019 and 2022. This lower student-to-teacher ratio could suggest a more individualized approach to education, potentially making it an attractive location for families. For real estate agents, appraisers, and insurance agents, such trends might impact property values and insurance rates given the potential demand for homes in areas with favorable school metrics. Investors and builders could also find opportunities in developing educational facilities and housing in the region, responding to a possibly well-regarded school system.
