Madison County Real Estate and Livability Trends
Madison County, Illinois has seen a consistent rise in average taxable income from $56,358.72 in 2013 to $75,176.95 in 2021, indicating a possibly stronger local economy. Median home values also climbed from $126,500 in 2015 to $159,400 in 2022. Property crime increased significantly from 546 to 697 larceny-theft cases between 2021 and 2022. Real estate taxes peaked at $6,318.13 in 2021.... Read more
Madison County Market Trends
Madison County, Illinois, has demonstrated consistent growth in median home values, climbing from $126,500 in 2015 to $159,400 in 2022, which, while lower than state averages, still marks a significant rise. Energy tax credits surged dramatically in 2018, potentially reflecting substantial investments in energy efficiency that might have boosted property values. Real estate taxes have seen a... Read more
Median Value of Occupied Housing Units in Madison County, Illinois Over the Last 8 Years
Over the past eight years, median home values in Madison County, Illinois have increased from $126,500 in 2015 to $159,400 in 2022, reflecting a strong upward trajectory. This growth is mirrored but more moderate compared to the state of Illinois, where home values rose from $173,800 to $239,100 in the same period. Nationally, however, the rise was even steeper, going from $125,500 in 2015 to $179,400 in 2022. For potential investors or homebuyers, Madison County offers relatively affordable housing amidst steady value appreciation, making it an intriguing option against the backdrop of higher state and national averages.
Residential Energy Tax Credit Per Tax Return in Madison County, IL Over the Last 9 Years
Madison County, Illinois, has seen some intriguing fluctuations in average residential energy tax credits over the last nine years, particularly with a notable spike in 2018 reaching $4,237.50 before tapering down in subsequent years. Investors and real estate agents might find this trend significant, as it suggests periods when homeowners possibly invested heavily in energy-efficient upgrades, potentially increasing property values and attractiveness. This data could imply opportunities for further investments or reflect past successful energy incentive programs, impacting everything from property appraisals to insurance assessments.
Average Real Estate Taxes Per Tax Return in Madison County, IL Over the Last 10 Years
Over the past decade, Madison County, Illinois has seen a notable increase in average real estate taxes per tax return, starting at around $4,000.64 in 2012 and peaking at approximately $6,318.13 by 2021. This upward trend, particularly the sharp rise observed in 2018, could suggest growing property values or changes in tax policies that potential investors and property developers should examine. Understanding these shifts is crucial for real estate agents, appraisers, insurance agents, and prospective homeowners to accurately assess the financial landscape and the cost of living in the area.
Percentage of Farm Returns in Madison County, IL Over the Last 10 Years
Farm tax returns in Madison County, Illinois, have shown a gradual yet noticeable decline over the past decade. Starting at nearly 0.98% in 2012, the percentage of farm returns has slowly decreased to around 0.84% by 2021. This trend may suggest a shift away from traditional farming activities in the area, potentially due to reasons such as urban development or changing economic conditions. For investors, property developers, or anyone considering a move to Madison County, understanding these patterns could be essential in making informed decisions regarding land use and economic opportunities in the region.
Number of Mortgages by Occupancy Type in Madison County, IL Over the Last 5 Years in Madison County
Mortgage activity in Madison County, Illinois reveals a substantial emphasis on principal residences, with a significant drop in mortgage counts by 2022 compared to the previous years. Investment properties have shown modest growth fluctuations, while second residences consistently maintain the lowest mortgage counts. These shifts could impact market dynamics for potential investors, builders, and developers, suggesting a more stable demand in the primary residential market, which may influence property values, insurance premiums, and development strategies. Appraisers and real estate agents might find varying occupancy types critical as they affect loan risk profiles and neighborhood stability.
Economic Outlook
Madison County, Illinois has experienced consistent growth in average taxable income per tax return, climbing from $56,358.72 in 2013 to $75,176.95 in 2021. This trend hints at a strengthening local economy, possibly making the area more attractive for investment and residential development. Concurrently, average state and local income taxes per tax return have surged, almost doubling from $5,521.82 in 2012 to $11,251.95 in 2021, particularly rising sharply post-2017, likely due to policy... Read more
Average Taxable Income per Tax Return in Madison County, IL over the last 9 years
Over the last 9 years, Madison County, Illinois has seen a steady increase in average taxable income per tax return. Starting from $56,358.72 in 2013, there's been consistent growth reaching $75,176.95 by 2021. This upward trend might indicate a strengthening local economy or increasing job opportunities, potentially making Madison County an attractive place for investment and residential development.
Average State and Local Income Taxes Per Tax Return in Madison County, IL Over the Last 10 Years
Madison County, Illinois has seen a notable rise in average state and local income taxes per tax return over the past decade. Starting at $5,521.82 in 2012, the values have peaked sharply in recent years, reaching $11,251.95 in 2021. This increase signals a broader trend of rising tax obligations which could impact the financial landscape for residents and prospective investors alike. The sharp climb post-2017, particularly from 2018 onwards, may reflect significant policy changes or economic shifts in the region.
Average Total Tax Liability Per Tax Return in Madison County, IL Over the Last 10 Years
Madison County, Illinois has experienced varied yet overall increasing tax liabilities over the past decade, almost peaking at $11,687.21 per tax return in 2021. This suggests economic growth and possibly rising property values, making the region potentially appealing for investors. Notably, there's a visible spike after a slight dip in 2018, which could indicate changing fiscal policies or local economic factors driving up tax burdens.
Cost of Living in Madison County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,175 | $1,440 | $1,847 | $1,533 | $1,401 |
| 1 adult 4 children | $1,175 | $1,176 | $1,420 | $1,533 | $1,468 |
| 2 adults 3 children | $1,175 | $1,176 | $1,598 | $1,533 | $1,152 |
| 1 adult 3 children | $1,175 | $960 | $1,172 | $1,533 | $1,227 |
| 2 adults 2 children | $907 | $963 | $1,350 | $1,384 | $997 |
| 1 adult 2 children | $907 | $719 | $923 | $1,384 | $958 |
| 2 adults 1 child | $907 | $761 | $1,102 | $897 | $933 |
| 1 adult 1 child | $907 | $492 | $675 | $897 | $792 |
| 2 adults | $722 | $611 | $853 | $0 | $703 |
| 1 adult | $679 | $333 | $427 | $0 | $567 |
Safety trends & Data
Madison County, Illinois has seen a notable rise in property crime from 2021 to 2022, with larceny-theft cases jumping from 546 to 697. This trend may see property owners investing in enhanced security measures, while real estate agents might need to address crime concerns with potential buyers. Insurance agents could also notice increased interest in robust coverage options. These factors may impact property values and the local real estate market, presenting both challenges and opportunities... Read more
Property Crime Trends in Madison County, IL Over the Last 2 Years
Madison County, Illinois has seen a notable rise in property crime from 2021 to 2022, with significant increases in key categories like burglary, larceny-theft, and motor vehicle theft. For instance, larceny-theft cases jumped from 546 to 697, marking a notable uptick. Investment in enhanced security measures might be prudent for property owners, while real estate agents may want to be prepared to address concerns about crime when discussing properties. Insurance agents might also see an increased interest in robust coverage options. This trend could impact property values and the local real estate market, presenting both challenges and opportunities for various stakeholders.
Demographics
Madison County, Illinois, shows a slight female majority with approximately 107,000 women compared to nearly 100,000 men. The population showcases a broad educational attainment, with the most common level being high school graduates, followed by those with some college but no degree. Age-wise, a significant portion falls within the 25 to 34-year-old range, reflecting a potentially active workforce. The racial composition is predominantly White at around 226,000, with Black or African American... Read more
Race Distribution in Madison County, Illinois (2022)
Educational Attainment in Madison County, Illinois (2022)
Age Distribution in Madison County, Illinois
Citizen Population in Madison County, Illinois (2022)
Political Trends & Data
Madison County, Illinois, displayed a clear lean towards the Republican party in the 2020 U.S. Presidential Election, with around 55% of the vote, while Democrats secured roughly 42%. Third parties, including the Libertarian and Green parties, barely made a dent, collectively pulling in just under 3%. This trend might signal a strong two-party system in the region, potentially shaping future electoral... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Madison County, Illinois, leaned towards the Republican party in the 2020 U.S. Presidential Election, with approximately 55% of the vote, while Democrats garnered around 42%. The Libertarian and Green parties, alongside other smaller factions, collectively made a minimal impact, together accounting for just under 3% of the vote. These numbers suggest a predominantly two-party preference among voters, with potential implications for future electoral strategies in the region.
55.44% of voters voted for the Republican party in the 2020 Presidential Election
42.17% of voters voted for the Democrat party in the 2020 Presidential Election
1.58% 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
0.29% of voters voted for the Other party in the 2020 Presidential Election
School Data
Madison County, Illinois has observed a shift in its student-to-teacher ratio, which has historically hovered above the national average. Until 2020, the ratio fluctuated around 15 to 16 students per teacher, but a significant drop to 13.2 in 2022, increasing slightly to 13.73 in 2023, could be crucial for real estate investors, parents evaluating educational quality, or insurance agents assessing risk factors. A lower student-to-teacher ratio often implies more personalized attention for... Read more
Student-to-teacher ratio in Madison County, Illinois over the last 9 years
Madison County, Illinois has seen a notable trend in its student-to-teacher ratio over the past nine years, with ratios generally hovering above the national average of 14 students per teacher until recently. Between 2014 and 2020, the ratio remained relatively stable, fluctuating around 15 to 16 students per teacher. However, a significant drop occurred in 2022, bringing the ratio down to 13.2 and slightly increasing to 13.73 in 2023. This change may be of particular interest to those considering investment in the local real estate market, parents evaluating educational quality, or insurance agents assessing risk factors. A lower student-to-teacher ratio often implies more personalized attention for students, which can enhance learning outcomes and potentially increase property values in neighborhoods served by these schools.
