Henry County Real Estate and Livability Trends
In Henry County, Illinois, average taxable income jumped from about $57,802.19 in 2013 to roughly $71,850.27 in 2021, hinting at economic resilience despite a rise in tax burdens. The median home value increased from $110,800 in 2015 to $138,900 in 2022, suggesting investment opportunities while remaining more affordable than broader averages. Notably, the student-to-teacher ratio fell to around... Read more
Henry County Market Trends
The median home value in Henry County, Illinois has climbed from $110,800 in 2015 to $138,900 in 2022, signaling potential opportunities for investors and property developers despite remaining more affordable than state and national averages. Residential energy tax credits peaked in 2018 at $3,900.00 before dipping and stabilizing, highlighting shifting investments in energy-efficient homes. Real... Read more
Median Value of Occupied Housing Units in Henry County, Illinois Over the Last 8 Years
The median home value in Henry County, Illinois has steadily risen from $110,800 in 2015 to $138,900 in 2022, reflecting a gradual increase that may appeal to potential investors and property developers. This local rise is set against a backdrop of both state and national growth, where Illinois' median values climbed from $173,800 to $239,100 and national values jumped from $125,500 to $179,400 over the same period. Although Henry County's housing market remains less expensive than both state and national averages, the consistent upward trend could signify growing opportunities for those looking to buy or invest in the area.
Residential Energy Tax Credit Per Tax Return in Henry County, IL Over the Last 9 Years
The residential energy tax credit per tax return in Henry County, Illinois has shown notable fluctuations over the past nine years, peaking sharply in 2018 at $3,900.00. Investment in energy-efficient properties saw significant increases from 2014 to 2017, culminating in the highest average credit amount in 2018. Post-2018, the average credit amount has varied, with a noticeable dip in 2020 to $1,800.00 before stabilizing at $1,226.83 in 2021. These trends suggest a dynamic shift in residential energy investment and policy impacts, essential for potential investors, property developers, and local agents to consider when planning future projects and valuations.
Average Real Estate Taxes Per Tax Return in Henry County, IL Over the Last 10 Years
Real estate taxes in Henry County, Illinois, have seen a notable increase over the past decade, climbing from approximately $3,773.01 in 2012 to around $5,808.82 in 2021. This rise, particularly significant between 2018 and 2020, suggests potential escalating costs for homeowners and investors. For prospective buyers or developers, understanding this trend is crucial for financial planning and forecasting potential future expenses. Appraisers and insurance agents might also consider these trends when evaluating properties and calculating premiums respectively.
Percentage of Farm Returns in Henry County, IL Over the Last 10 Years
Henry County, Illinois has seen a slight fluctuation in the percentage of farm tax returns over the last decade. The percentage hovered around 5.15% in 2012 and 2013 but showed a slight decline, dipping to 4.83% by 2021. This trend may suggest shifting agricultural dynamics or economic factors impacting farm operations. For potential investors or those interested in long-term agricultural ventures, these subtle changes in farm tax returns could indicate broader economic forces at play that might affect the viability of farming investments.
Number of Mortgages by Occupancy Type in Henry County, IL Over the Last 5 Years in Henry County
Analyzing five years of mortgage data in Henry County, Illinois reveals a fluctuating yet dominant trend toward principal residence loans, peaking in 2020. Investment property mortgages show relative stability with slight declines, suggesting either a cautious investment climate or a stable rental market. The second residence category, though minor, saw its highest count in 2022, hinting at a possible increase in short-term rentals or vacation homes. These shifts in occupancy types can inform investment strategies, impact property appraisals, and influence risk calculations for insurers and agents alike. Understanding these dynamics can provide a clearer picture of market behavior and guide decisions on property development and real estate transactions in the area.
Economic Outlook
In Henry County, Illinois, the average taxable income per tax return has risen from approximately $57,802.19 in 2013 to about $71,850.27 in 2021, with a notable spike between 2020 and 2021, hinting at recent economic resilience. This could signal a thriving local economy, potentially attracting new residents and investors. However, it's also worth noting that average state and local income taxes per return have climbed from $5,768.42 in 2012 to $12,112.70 in 2021, suggesting a heavier tax... Read more
Average Taxable Income per Tax Return in Henry County, IL over the last 9 years
Over the past nine years, the average taxable income per tax return in Henry County, Illinois has shown a general upward trajectory. This rise, from approximately $57,802.19 in 2013 to about $71,850.27 in 2021, could indicate economic growth and increasing prosperity in the area, which might attract potential investors and new residents. Notably, there was a significant jump between 2020 and 2021, suggesting recent economic resilience or growth. For those considering building property in Henry County, these income trends may imply a robust local economy capable of supporting new developments and real estate investments.
Average State and Local Income Taxes Per Tax Return in Henry County, IL Over the Last 10 Years
Henry County, Illinois has seen a marked increase in average state and local income taxes per tax return over the past decade. Starting at $5,768.42 in 2012, taxes peaked significantly at $12,112.70 by 2021. Notably, there was a sharp rise from 2018 onwards, coinciding with broader economic trends and possibly reflecting shifts in local fiscal policies. This upward trajectory is crucial for potential investors or residents, indicating a higher tax burden that may impact decisions on property investments, relocations, or business ventures in the area.
Average Total Tax Liability Per Tax Return in Henry County, IL Over the Last 10 Years
In Henry County, Illinois, the average total tax liability per tax return has seen some fluctuation over the last decade. Starting at $9,124.56 in 2012, the liability peaked in 2021 at $10,530.67. There were notable dips in 2015 and 2019, which dropped to $9,556.68 and $8,545.78, respectively. While the overall trend seems upward, the variations could suggest changing economic conditions or policy impacts. This information might be valuable for prospective investors, residents, or those considering property development, providing insight into the financial landscape and potential tax burdens in the area.
Cost of Living in Henry County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,118 | $1,424 | $2,019 | $1,110 | $1,307 |
| 1 adult 4 children | $1,118 | $1,163 | $1,554 | $1,110 | $1,380 |
| 2 adults 3 children | $1,118 | $1,163 | $1,748 | $1,110 | $1,078 |
| 1 adult 3 children | $1,118 | $949 | $1,282 | $1,110 | $1,131 |
| 2 adults 2 children | $849 | $952 | $1,476 | $999 | $944 |
| 1 adult 2 children | $849 | $711 | $1,010 | $999 | $873 |
| 2 adults 1 child | $849 | $752 | $1,204 | $641 | $906 |
| 1 adult 1 child | $849 | $486 | $738 | $641 | $741 |
| 2 adults | $687 | $604 | $932 | $0 | $725 |
| 1 adult | $568 | $330 | $466 | $0 | $568 |
Safety trends & Data
Property crime trends in Henry County, Illinois show a nuanced pattern. Larceny-theft incidents nearly doubled from 10.00 in 2021 to 19.00 in 2022, hinting at a possible rise in demand for security services. Conversely, vandalism cases declined from 14.00 to 8.00, suggesting better community measures or law enforcement. Fraud incidents also dropped from 2.00 to 1.00, while arson saw its first recorded case in 2022. These shifts could potentially affect insurance rates, property values, and the... Read more
Property Crime Trends in Henry County, IL Over the Last 2 Years
Property crime in Henry County, Illinois shows a mixed trend over the past two years. Notably, larceny-theft incidents almost doubled from 10.00 in 2021 to 19.00 in 2022, suggesting an increased need for vigilance and possibly higher demand for security services. Vandalism cases decreased significantly from 14.00 to 8.00 over the same period, which could indicate improving community measures or law enforcement efforts. Meanwhile, fraud incidents dropped from 2.00 to 1.00, and a new category, arson, saw its first case recorded in 2022 with 1.00 incident. Such varied trends could impact insurance rates, property values, and the overall sense of safety in the area.
Demographics
Henry County, Illinois, shows a nearly even gender distribution, with females slightly outnumbering males. Educational attainment reveals a majority have completed high school, with a notable percentage having some college education but no degree. The age distribution suggests a significant proportion of the population is in the 55 to 64-year-old range, which could imply an aging population potentially impacting local services and economic foci. Racially, the county is predominantly White, with... Read more
Race Distribution in Henry County, Illinois (2022)
Educational Attainment in Henry County, Illinois (2022)
Age Distribution in Henry County, Illinois
Citizen Population in Henry County, Illinois (2022)
Political Trends & Data
In the 2020 U.S. Presidential Election, Henry County, Illinois, seemed to lean heavily Republican, with nearly 60% of votes. Democrats pulled in around 38%, while Libertarian and Green party candidates combined had less than 2%. Though Republicans dominated, the presence of third-party votes suggests some political... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In the 2020 U.S. Presidential Election, Henry County, Illinois, exhibited notable trends. The Republican party appeared to dominate the voting landscape, securing nearly 60% of the vote, while the Democrat party garnered around 38%. Smaller parties like the Libertarian and Green parties saw minimal support, each attracting less than 2% of voters. This might suggest a strong Republican leaning in the county, though the presence of third-party candidates could indicate pockets of diverse political perspectives.
59.68% of voters voted for the Republican party in the 2020 Presidential Election
38.22% 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
0.43% of voters voted for the Green party in the 2020 Presidential Election
0.23% of voters voted for the Other party in the 2020 Presidential Election
School Data
Henry County, Illinois, has experienced a significant drop in its student-to-teacher ratio over the past nine years, moving from 23 in 2014 to approximately 13 in 2023, which is now below the national average of 14. This shift towards smaller class sizes might enhance educational outcomes, attracting families to the area. For investors, real estate agents, and developers, this trend could signal a potential uptick in property values and housing... Read more
Student-to-teacher ratio in Henry County, Illinois over the last 9 years
Over the last nine years, Henry County, Illinois, has seen a notable decrease in its student-to-teacher ratio, dropping from 23 in 2014 to approximately 13 in 2023. This trend suggests a positive shift toward smaller class sizes. When compared to the national average of 14 students per teacher, it appears Henry County is now slightly below this benchmark. Reduced student-to-teacher ratios can potentially enhance educational outcomes and may interest families considering a move to the area. This trend is also relevant for investors, real estate agents, and developers as it could translate to rising property values and demand for housing.
