Lawrence County Real Estate and Livability Trends
In Lawrence County, Illinois, home values rose from $81,500 in 2021 to $93,900 in 2022, still trailing the state and national averages, making it an enticing market for budget-conscious buyers. The rise in mortgages for principal residences, peaking at 365 in 2020, suggests increasing community stability and potential for future property value gains. Despite the higher local and state income... Read more
Lawrence County Market Trends
Home values in Lawrence County, Illinois climbed from $81,500 in 2021 to $93,900 in 2022, still lagging behind the Illinois average of $239,100 and the national average of $179,400 for the same year. This affordability could highlight investment opportunities for buyers looking for lower entry points in the housing market. Residential energy tax credits have fluctuated, peaking at $1,175.00 in... Read more
Median Value of Occupied Housing Units in Lawrence County, Illinois Over the Last 8 Years
Home values in Lawrence County, Illinois have shown a steady increase over the last eight years, with a marked jump from $81,500 in 2021 to $93,900 in 2022. This local growth, while notable for the area, still places Lawrence County's median home value significantly below both the Illinois state average of $239,100 and the national average of $179,400 for 2022. Such a disparity may suggest that Lawrence County remains an affordable option within Illinois, offering potential investment opportunities for those looking to capitalize on a lower entry point in the housing market.
Residential Energy Tax Credit Per Tax Return in Lawrence County, IL Over the Last 8 Years
Lawrence County, Illinois, has experienced significant fluctuations in residential energy tax credits per tax return over the past eight years, peaking notably at $1,175.00 in 2017. Following a notable drop in 2018 (data missing), the credit amounts trended upward again, reaching $880.00 in 2021. This variability likely indicates changing homeowner engagement with energy-efficient initiatives and could impact appraisals, insurance considerations, and real estate investment strategies in the region. Keep an eye on these trends to gauge future opportunities or disruptions in the housing market of Lawrence County.
Average Real Estate Taxes Per Tax Return in Lawrence County, IL Over the Last 10 Years
Over the last decade, Lawrence County, Illinois has experienced a notable increase in real estate taxes per tax return. In 2012, the average was $1,874.39, steadily climbing with some fluctuations, peaking particularly in 2018 and 2019 at $2,811.11 and $3,114.29 respectively. Despite a slight decline in 2020 to $2,312.50, the trend generally shows an upward trajectory, reaching $2,987.50 by 2021. This trend could suggest a rising valuation in real estate, which may influence decisions for potential investors, homeowners, and real estate agents in the region.
Percentage of Farm Returns in Lawrence County, IL Over the Last 10 Years
Over the past decade, the percentage of farm returns in Lawrence County, Illinois has generally hovered around the 4% mark, peaking in 2012 at approximately 4.19% and seeing a low of about 3.34% in 2020. While the figures show some fluctuation, the overall trend suggests some stability with occasional dips, which may indicate varying economic or climatic conditions affecting local agriculture. For prospective investors, developers, or potential residents, this could hint at underlying economic resilience within the agricultural sector despite minor variances year-to-year.
Number of Mortgages by Occupancy Type in Lawrence County, IL Over the Last 5 Years in Lawrence County
Over the past five years in Lawrence County, Illinois, there appears to be a substantial increase in the number of mortgages for principal residences, peaking at 365 in 2020 before slightly stabilizing. Investment properties show a more modest increase, reaching a high of 17 in 2021, while second residences remain almost negligible. Shifts in occupancy trends might impact real estate dynamics significantly; a growing number of owner-occupied homes could suggest rising community stability and desirability, influencing property values and local infrastructure investment. High mortgage activity in principal residences could attract investors and developers interested in long-term growth and stability, whereas low activity in second residences might suggest limited demand for secondary homes in the area.
Economic Outlook
Lawrence County, Illinois has experienced a steady rise in average taxable income per tax return, moving from $47,222.54 in 2013 to $57,834.80 in 2021, indicating likely improvements in economic conditions. Alongside this, state and local income taxes have also increased, from $5,531.76 in 2012 to $8,611.11 in 2020, reflecting higher incomes and possibly shifting tax policies. The total tax liability per tax return has fluctuated, peaking at $7,593.01 in 2014 and then dipping to $6,426.53 in... Read more
Average Taxable Income per Tax Return in Lawrence County, IL over the last 9 years
Average taxable income per tax return in Lawrence County, Illinois has shown a general upward trend over the past nine years, climbing from approximately $47,222.54 in 2013 to around $57,834.80 in 2021. Notably, there were slight fluctuations, such as drops in 2015 and 2016, but the overall growth suggests improving economic conditions. Potential investors, homeowners, and those interested in the area's economic health may view this as a positive signal of increasing earning potential and financial stability in Lawrence County.
Average State and Local Income Taxes Per Tax Return in Lawrence County, IL Over the Last 10 Years
Lawrence County, Illinois has seen a notable rise in average state and local income taxes per tax return over the past decade, starting from $5,531.76 in 2012 and peaking at $8,611.11 in 2020. This trend signifies a growing fiscal burden, reflecting on both the rising incomes and possible adjustments in tax policies. Such information is crucial for potential investors and residents as it directly impacts disposable income and overall cost of living. Understanding this upward trajectory can guide financial planning, investment decisions, and give a clear picture of the economic environment in Lawrence County.
Average Total Tax Liability Per Tax Return in Lawrence County, IL Over the Last 10 Years
In Lawrence County, Illinois, the average total tax liability per tax return over the past decade has displayed notable fluctuations. While there was a peak at $7,593.01 in 2014, a significant dip occurred in 2018 with the liability dropping to $6,426.53. Recent years have shown some recovery, peaking again at $7,420.68 in 2021. These trends might suggest varying economic conditions impacting residents’ tax liabilities and could be useful for understanding the financial climate in the county for potential investors and residents.
Cost of Living in Lawrence County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,009 | $1,283 | $2,902 | $1,058 | $1,468 |
| 1 adult 4 children | $1,009 | $1,048 | $2,227 | $1,058 | $1,489 |
| 2 adults 3 children | $1,009 | $1,048 | $2,514 | $1,058 | $1,201 |
| 1 adult 3 children | $1,009 | $856 | $1,839 | $1,058 | $1,198 |
| 2 adults 2 children | $774 | $858 | $2,126 | $959 | $1,027 |
| 2 adults 1 child | $774 | $678 | $1,738 | $640 | $973 |
| 1 adult 2 children | $774 | $641 | $1,451 | $959 | $921 |
| 1 adult 1 child | $774 | $438 | $1,063 | $640 | $762 |
| 2 adults | $588 | $545 | $1,350 | $0 | $758 |
| 1 adult | $531 | $297 | $675 | $0 | $576 |
Demographics
In Lawrence County, Illinois, the adult population skews male, with more men than women. The county's educational attainment data suggests a large proportion of residents have completed high school, though fewer hold advanced degrees. The age distribution shows a balanced spread across various age groups, with notable populations in both younger and older age brackets. Most residents identify as White, with smaller communities of Black or African American individuals and very few identifying as... Read more
Race Distribution in Lawrence County, Illinois (2022)
Educational Attainment in Lawrence County, Illinois (2022)
Age Distribution in Lawrence County, Illinois
Citizen Population in Lawrence County, Illinois (2022)
Political Trends & Data
Lawrence County, Illinois, appears to have had a strong Republican preference in the 2020 U.S. Presidential Election, with over 76% of the votes going to the GOP. The Democratic Party garnered about 22%, and third parties like the Libertarians and Greens received less than 2% combined. This conservative tilt could influence local real estate trends, potentially attracting buyers who align with this political... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Lawrence County, Illinois, appears to have strongly leaned Republican in the 2020 U.S. Presidential Election, with over 76% of the votes. The Democratic Party trailed significantly, garnering around 22%, while third parties like the Libertarians and Greens amassed minimal support, with less than 2% combined. This distribution suggests a heavily conservative tilt within the county's voter base.
76.21% of voters voted for the Republican party in the 2020 Presidential Election
22.13% of voters voted for the Democrat party in the 2020 Presidential Election
1.28% of voters voted for the Livertarian party in the 2020 Presidential Election
0.30% of voters voted for the Green party in the 2020 Presidential Election
0.08% of voters voted for the Other party in the 2020 Presidential Election
School Data
Lawrence County, Illinois has seen its student-to-teacher ratio fluctuate between 13 to 15 over the last nine years, closely mirroring the national average. This dip to 13 in 2018 and 2023 could influence real estate investment decisions, as smaller class sizes may attract families seeking more personalized education for their children. For real estate agents and appraisers, these trends bring additional insight when assessing property values or advising clients moving to the... Read more
Student-to-teacher ratio in Lawrence County, Illinois over the last 9 years
Over the last nine years, the student-to-teacher ratio in Lawrence County, Illinois has mostly hovered around 14 to 15, which is fairly close to the current national average of 14 students per teacher. Notably, the ratio dipped to 13 in 2018 and 2023. These trends can impact investment decisions, especially for those looking to invest in real estate or build property, as lower ratios might indicate smaller class sizes and potentially more individualized attention for students. This could be a desirable factor for families moving to the area or for appraisers assessing property values. For insurance agents and real estate agents, understanding these dynamics could provide added context for their clients.
