Kankakee County Real Estate and Livability Trends
In Kankakee County, Illinois, the median home values have increased from $138,700 in 2015 to $176,800 in 2022, growing faster than the national trend but slower than the state average. Average real estate taxes surged from roughly $4,402.34 in 2012 to nearly $6,277.12 by 2021, reflecting a growing tax burden that could impact property affordability. Meanwhile, a significant rise in taxable income... Read more
Kankakee County Market Trends
In Kankakee County, Illinois, the median home values have risen steadily from $138,700 in 2015 to $176,800 in 2022, growing slower than the state average but faster than the national trend. Increased residential energy tax credits, peaking at $1,242.86 in 2018, point towards a rising interest in energy-efficient home improvements. Average real estate taxes have surged from roughly $4,402.34 in... Read more
Median Value of Occupied Housing Units in Kankakee County, Illinois Over the Last 8 Years
Kankakee County, Illinois, has experienced a steady increase in median home values over the past eight years, rising from $138,700 in 2015 to $176,800 in 2022. This growth, while lower than the state average, still outpaces the national increase, making it a potentially attractive option for homebuyers and investors looking for areas with upward momentum. Illinois as a whole saw its median values rise from $173,800 to $239,100 in the same period, and nationally, the growth was from $125,500 to $179,400. The more modest increases in Kankakee County might suggest less competition and potentially more opportunity for value appreciation.
Residential Energy Tax Credit Per Tax Return in Kankakee County, IL Over the Last 9 Years
In Kankakee County, Illinois, the average residential energy tax credit per tax return has seen a significant increase over the past nine years, with notable spikes in 2017 and 2018 reaching $477.97 and $1,242.86 respectively. This trend suggests a growing focus on energy-efficient home improvements, potentially driven by increased environmental awareness or enhanced state incentives. Given the fluctuations, individuals interested in moving or investing in property here might want to consider the potential for energy-related savings and tax benefits. Real estate agents, appraisers, and insurance agents should take note of these trends as they could impact valuations, property attractiveness, and policy pricing.
Average Real Estate Taxes Per Tax Return in Kankakee County, IL Over the Last 10 Years
Over the past decade, Kankakee County, Illinois has seen a near-continuous rise in average real estate taxes per tax return, escalating from approximately $4,402.34 in 2012 to around $6,277.12 in 2021. This upward trend could potentially impact decision-making for investors, potential residents, and real estate professionals, as the increasing tax burden might influence property affordability and the overall cost of living. Notably, the sharpest spikes occurred between 2016 and 2018, suggesting periods of rapid fiscal adjustments or increased public spending in the area.
Percentage of Farm Returns in Kankakee County, IL Over the Last 10 Years
In Kankakee County, Illinois, the percentage of farm tax returns has shown a generally downward trend over the past decade. Starting at 1.52% in 2012 and fluctuating slightly, it dipped to 1.27% by 2021. Farm tax returns, which reflect the financial health and activity of the agricultural sector, are a valuable indicator for prospective investors, builders, and residents. This decline may suggest shifts in the local agricultural economy or wider economic changes impacting farming activities in the area, necessitating a closer look for those considering any major economic or residential moves in Kankakee County.
Number of Mortgages by Occupancy Type in Kankakee County, IL Over the Last 5 Years in Kankakee County
Over the last five years, Kankakee County, Illinois, has seen a notable fluctuation in the number of mortgages across different occupancy types. Investment properties have remained relatively consistent, whereas principal residences have experienced a significant increase, peaking in 2021 and then slightly decreasing. The count for second residences, although much smaller, shows minor variations. Changes in occupancy type affect various stakeholders: investors may be drawn to stable investment property trends, while prospective homeowners might be swayed by the high volume of principal residences, indicating potentially strong community and infrastructure support. Appraisers, insurance agents, and real estate agents can leverage these insights to evaluate market dynamics, assess property values, and better serve their clients.
Economic Outlook
Kankakee County, Illinois has shown promising economic indicators, with average taxable income per tax return rising from $50,474.88 in 2013 to $66,676.10 in 2021. This suggests potential economic growth and higher earnings for residents. However, accompanying this trend is a significant increase in average state and local income taxes, reaching $6,999.56 in 2021. This could mean a rising tax burden for locals. Additionally, the average total tax liability per tax return has consistently... Read more
Average Taxable Income per Tax Return in Kankakee County, IL over the last 9 years
Over the past nine years, the average taxable income per tax return in Kankakee County, Illinois has shown a generally upward trend, growing from $50,474.88 in 2013 to $66,676.10 in 2021. Notable increases can be observed in 2015 and subsequent years, indicating potential economic growth and higher earnings among residents. This rise in taxable income could be attractive for investors and those considering relocation, as it suggests an improving local economy with increasing financial opportunities.
Average State and Local Income Taxes Per Tax Return in Kankakee County, IL Over the Last 10 Years
Kankakee County, Illinois has experienced significant fluctuations in average state and local income taxes per tax return over the past decade, ranging from $4,025.16 in 2016 to $6,999.56 in 2021. The last few years have seen a notable uptick, especially since 2018 where the figures have consistently stayed above $5,900. This data could be pivotal for those considering investment or relocation, indicating a rising tax burden in recent years.
Average Total Tax Liability Per Tax Return in Kankakee County, IL Over the Last 10 Years
Over the past decade, Kankakee County, Illinois has seen an upward trend in average total tax liability per tax return. Notably, the tax liability in 2021 reached $9,418.31, marking a steady increase from $7,340.60 in 2012. This rise might reflect economic growth or changes in local tax policies. For potential investors and homebuyers, understanding these tax trends can provide insights into the area's fiscal health and cost of living trajectory.
Cost of Living in Kankakee County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,458 | $1,444 | $1,675 | $1,533 | $1,448 |
| 1 adult 4 children | $1,458 | $1,179 | $1,287 | $1,533 | $1,568 |
| 2 adults 3 children | $1,458 | $1,179 | $1,450 | $1,533 | $1,230 |
| 1 adult 3 children | $1,458 | $963 | $1,062 | $1,533 | $1,335 |
| 2 adults 2 children | $1,070 | $965 | $1,225 | $1,384 | $1,019 |
| 1 adult 2 children | $1,070 | $721 | $837 | $1,384 | $1,005 |
| 2 adults 1 child | $1,070 | $763 | $1,000 | $897 | $961 |
| 1 adult 1 child | $1,070 | $493 | $612 | $897 | $818 |
| 2 adults | $813 | $613 | $775 | $0 | $700 |
| 1 adult | $715 | $334 | $387 | $0 | $574 |
Demographics
Kankakee County, Illinois showcases a slight gender imbalance with marginally more females than males in its adult population. Interestingly, a significant portion of the adult population has completed high school, while a smaller yet substantial segment holds a bachelor's degree or higher. Age distribution hints at a considerable percentage of the population within the working-age bracket, specifically 25 to 64 years, implying a potentially stable workforce. In terms of racial composition, the... Read more
Race Distribution in Kankakee County, Illinois (2022)
Educational Attainment in Kankakee County, Illinois (2022)
Age Distribution in Kankakee County, Illinois
Citizen Population in Kankakee County, Illinois (2022)
Political Trends & Data
In Kankakee County, Illinois, political leanings might be a factor to consider for potential real estate investors. The area could be predominantly conservative with Republicans possibly securing about 57% of the vote, yet there’s a notable Democratic presence at around 41%. This mix could indicate a politically diverse population, which in turn might affect local policies and community investments. Such a competitive landscape could shape the area’s appeal to different buyer demographics,... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
With Republicans possibly securing a majority at approximately 57% and Democrats trailing with around 41%, Kankakee County, Illinois, seems to lean conservative. Third-party votes appear minimal, with Libertarians potentially garnering just over 1.6%, while the Green Party and other minor parties might collectively account for less than 1%. This voting pattern could suggest a stronghold for Republican candidates, though the presence of Democratic support indicates a competitive landscape.
57.18% of voters voted for the Republican party in the 2020 Presidential Election
40.62% of voters voted for the Democrat party in the 2020 Presidential Election
1.61% of voters voted for the Livertarian party in the 2020 Presidential Election
0.38% of voters voted for the Green party in the 2020 Presidential Election
0.21% of voters voted for the Other party in the 2020 Presidential Election
School Data
Kankakee County, Illinois has markedly improved its student-to-teacher ratio from almost 19 students per teacher in 2014 to about 13 recently. This trend now aligns more closely with the national average, possibly signifying better educational conditions. Such shifts could hint at a strengthening education system, potentially boosting property values and attracting families. Lower ratios could mean appraisers and insurance agents might see increased stability and community investment in local... Read more
Student-to-teacher ratio in Kankakee County, Illinois over the last 9 years
Kankakee County, Illinois has seen its student-to-teacher ratio decrease markedly over the past nine years, moving from a high of nearly 19 students per teacher in 2014 to around 13 in recent years. This trend aligns more closely with the national average and might indicate improved learning conditions and potentially better educational outcomes. For investors, real estate agents, and those considering relocation, such a shift could signal a strengthening education system, which can enhance property values and attract families. Lower ratios also suggest that appraisers and insurance agents might find increased stability and community investment in local schools, affecting risk assessments and portfolio management.
