Kane County Real Estate and Livability Trends
Kane County, Illinois, has seen a robust increase in average taxable income, leaping from $66,884.72 in 2013 to $91,969.80 in 2021, which could attract investors and home buyers due to the stronger local economy. Median home values have surged from $213,200 in 2015 to $290,100 in 2022, outpacing state and national growth, hinting at increasing property values and development. Though property... Read more
Kane County Market Trends
Kane County, Illinois has experienced a steady rise in median home values, jumping from $213,200 in 2015 to $290,100 in 2022, outpacing both state and national growth. The residential energy tax credits peaked significantly in 2018 at $1,785.71, reflecting a surge in homeowners investing in energy-efficient upgrades. Average real estate taxes have also shown consistent growth, rising from... Read more
Median Value of Occupied Housing Units in Kane County, Illinois Over the Last 8 Years
Kane County, Illinois has seen an upward trend in median home values over the last eight years, with a substantial increase from $213,200 in 2015 to $290,100 in 2022. Compared to national figures which rose from $125,500 to $179,400 in the same period, Kane County's growth appears relatively stronger. At the state level, Illinois' median home values increased from $173,800 to $239,100, indicating that Kane County's housing market has outpaced both the state and national averages. This could signal a burgeoning real estate market, making it a potentially attractive spot for investors and homebuyers alike.
Residential Energy Tax Credit Per Tax Return in Kane County, IL Over the Last 9 Years
Over the last nine years, residential energy tax credits per tax return in Kane County, Illinois have seen a notable increase, peaking significantly in 2018 at $1785.71. Post-2018, the average credit declined but remained higher than pre-2017 levels, settling at $634.26 in 2021. This rising trend before 2018 suggests growing homeowners' investments in energy-efficient improvements, which could be attractive for buyers and investors eyeing properties with potential for energy savings. Real estate agents, appraisers, and insurance agents should be aware of this spike, as it might reflect broader local interest in energy-efficient upgrades.
Average Real Estate Taxes Per Tax Return in Kane County, IL Over the Last 10 Years
Kane County, Illinois has seen a consistent upward trend in average real estate taxes per tax return over the past decade. In 2012, the average real estate tax was around $7,063.18 and it has steadily increased, reaching approximately $9,155.30 by 2021. This incline provides key insights for potential investors, property developers, and real estate professionals. It could hint at growing property values and development in the area, suggesting a robust housing market. However, rising taxes also imply higher costs for homeowners and prospective buyers, which could affect affordability and demand. Understanding these trends can aid appraisers and insurance agents in better assessing property values and associated risks. Being aware of the increasing taxes is crucial for current residents and anyone considering moving to Kane County, as it directly impacts household budgets and the overall cost of living.
Percentage of Farm Returns in Kane County, IL Over the Last 10 Years
Over the last decade, Kane County, Illinois has seen a slow but steady decline in the percentage of farm tax returns, dropping from 0.29% in 2012 to around 0.22% in 2021. Farm tax returns provide insights into the financial health and viability of agricultural activities in the region. For potential investors, property developers, or future residents, this trend could suggest shifting economic dynamics and possibly reduced emphasis on agricultural activities. It may also indicate opportunities for urban development or diversification into other industries as farming appears to be occupying less economic space.
Number of Mortgages by Occupancy Type in Kane County, IL Over the Last 5 Years in Kane County
Over the past five years in Kane County, Illinois, there's been notable variation in mortgage counts based on occupancy type. Investments in principal residences consistently dominate, suggesting robust demand for permanent housing, which could spur long-term community development and stability. The relatively lower but fluctuating numbers for investment properties indicate a possibly volatile investment climate, which might affect property values and rental market dynamics. Second residences, while a smaller segment, show minimal growth, hinting at constrained market appeal for vacation homes. These trends can crucially influence decisions for potential investors, real estate agents, appraisers, and those considering property development in the area.
Economic Outlook
Kane County, Illinois has seen a notable rise in average taxable income from approximately $66,884.72 in 2013 to $91,969.80 in 2021, signaling a stronger local economy and rising earning potential which might attract investors and home buyers. There was also a marked increase in state and local income taxes, peaking at $11,207.61 in 2021, hinting at higher economic activity and possibly shifting tax policies. The general decline in poverty rates, from 9.5% in 2013 to 6.6% in 2022, points to... Read more
Average Taxable Income per Tax Return in Kane County, IL over the last 9 years
Kane County, Illinois has witnessed a notable upward trend in the average taxable income per tax return over the last nine years. Starting at approximately $66,884.72 in 2013, the average income grew consistently each year, peaking at $91,969.80 in 2021. This increase may suggest a strengthening local economy and rising earning potential, which could be attractive to potential investors, home buyers, and businesses considering the area. It might also indicate a higher cost of living, which is something to consider for those planning to move or invest in Kane County.
Average State and Local Income Taxes Per Tax Return in Kane County, IL Over the Last 10 Years
Kane County, Illinois has seen a notable fluctuation in average state and local income taxes per tax return over the last decade. Starting at $6,067.81 in 2012, the taxes steadily increased, peaking at $11,207.61 in 2021. Despite a dip in the mid-2010s, the surge post-2017, with a significant jump between 2017 and 2018, suggests growing economic activities and possibly changing tax policies. This trend is essential for potential investors, homebuyers, or those relocating as it indicates a progressively higher tax burden, reflective of the region’s evolving fiscal landscape.
Average Total Tax Liability Per Tax Return in Kane County, IL Over the Last 10 Years
Over the past decade, Kane County, Illinois has seen a notable increase in the average total tax liability per tax return. Beginning at $12,388.46 in 2012, the amount has gradually risen, peaking at $16,004.21 in 2021. This upward trend underscores potential changes in earnings, property values, and economic activities within the county. For investors, developers, and prospective residents, understanding this trend could provide insights into the financial landscape and the evolving economic conditions of the area.
Cost of Living in Kane County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,814 | $1,552 | $1,784 | $2,027 | $1,983 |
| 1 adult 4 children | $1,814 | $1,268 | $1,372 | $2,027 | $2,104 |
| 2 adults 3 children | $1,814 | $1,268 | $1,544 | $2,027 | $1,730 |
| 1 adult 3 children | $1,814 | $1,035 | $1,132 | $2,027 | $1,861 |
| 2 adults 2 children | $1,430 | $1,038 | $1,304 | $1,806 | $1,404 |
| 1 adult 2 children | $1,430 | $775 | $892 | $1,806 | $1,438 |
| 2 adults 1 child | $1,430 | $820 | $1,064 | $1,089 | $1,190 |
| 1 adult 1 child | $1,430 | $530 | $652 | $1,089 | $1,119 |
| 2 adults | $1,246 | $659 | $825 | $0 | $907 |
| 1 adult | $1,150 | $360 | $412 | $0 | $757 |
Safety trends & Data
Kane County, Illinois, has seen a notable rise in property crime from 2021 to 2022. Burglary incidents more than tripled, increasing from 9.0 to 28.0, and larceny-theft cases doubled, going from 75.0 to 157.0. Vandalism arrests also surged from 40.0 to 69.0. These trends may have implications for real estate valuations, insurance premiums, and investment choices in the... Read more
Property Crime Trends in Kane County, IL Over the Last 2 Years
The property crime trends in Kane County, Illinois, show a marked increase from 2021 to 2022. Burglary incidents more than tripled, rising from 9.0 to 28.0, while larceny-theft cases more than doubled from 75.0 to 157.0. Vandalism also saw a significant uptick, with arrests increasing from 40.0 to 69.0. Fraud cases went up modestly. These rising crime rates could impact real estate valuations, insurance premiums, and investment decisions in the area.
Demographics
Kane County, Illinois shows a fairly even gender split, with adults slightly skewed towards females. Educational attainment reveals a diverse range, but about half of the population has at least some college education or a higher degree, which may suggest a workforce with a solid educational foundation. The age distribution indicates a balanced population spread, though skewing towards working-age adults (25-64 years old), highlighting potential economic productivity. Racial demographics... Read more
Race Distribution in Kane County, Illinois (2022)
Educational Attainment in Kane County, Illinois (2022)
Age Distribution in Kane County, Illinois
Citizen Population in Kane County, Illinois (2022)
Political Trends & Data
Kane County, Connecticut, shows a notable leaning towards the Democratic party, with approximately 56% of votes in the 2020 U.S. Presidential Election. The Republican party trailed with around 42%, while Libertarians and Greens received minimal support, each garnering just over 1% and 0.5%, respectively. This might indicate a preference for more progressive policies among Kane County voters, reflecting broader statewide trends in... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Kane County, Connecticut, the 2020 U.S. Presidential Election results show a notable leaning towards the Democratic party, with approximately 56% of votes. The Republican party trailed with around 42%, while minor parties like Libertarians and Greens received minimal support, each garnering just over 1% and 0.5%, respectively. This distribution could suggest a preference for more progressive policies among Kane County voters, reflective of statewide trends in Connecticut.
41.74% of voters voted for the Republican party in the 2020 Presidential Election
56.14% of voters voted for the Democrat party in the 2020 Presidential Election
1.24% of voters voted for the Livertarian party in the 2020 Presidential Election
0.52% of voters voted for the Green party in the 2020 Presidential Election
0.37% of voters voted for the Other party in the 2020 Presidential Election
School Data
Kane County, Illinois has seen a consistent decrease in the student-to-teacher ratio over the past nine years, declining from 17:1 in 2014 to about 14:1 in 2023. This trend often suggests improved educational conditions, potentially making the area more desirable for families focused on education. The county's slight advantage over the national average in this area could boost property appeal and potentially influence higher property values, as well as neighborhood stability. This data may... Read more
Student-to-teacher ratio in Kane County, Illinois over the last 9 years
The student-to-teacher ratio in Kane County, Illinois has shown a general downward trend over the past nine years, moving from 17 students per teacher in 2014 to approximately 14 students per teacher in 2023. This trend might suggest improved educational conditions, as lower ratios typically correlate with more individualized attention for students. Compared to the national average of 14 students per teacher, recent years in Kane County show slightly better ratios, which could be appealing for families prioritizing education and can potentially increase property desirability. Real estate agents and investors might find this appealing, as a lower student-to-teacher ratio often enhances the attractiveness of a locality for prospective homebuyers. For insurance agents and appraisers, changes in these ratios can influence the perceived value of educational quality within the area, which in turn affects overall property values and neighborhood stability.
