McDonough County Real Estate and Livability Trends
In McDonough County, Illinois, the average taxable income has risen from $49,479.92 in 2013 to $60,751.90 by 2021, suggesting an economically resilient locale that might draw investor attention. Median home values saw sharp fluctuations, peaking at $100,400 in 2022 after a dip to $89,000 in 2021, while real estate taxes climbed from $3,543.69 in 2012 to $5,416.67 in 2021, indicating rising... Read more
McDonough County Market Trends
The median home values in McDonough County, Illinois, have seen some swings, hitting a high of $100,400 in 2022 after dipping to $89,000 in 2021, which makes it notably more volatile but cheaper than state and national trends. Residential energy tax credits reached a peak in 2018 at $1,533.33, reflecting a growing push towards energy-efficient home improvements, possibly drawing in eco-conscious... Read more
Median Value of Occupied Housing Units in McDonough County, Illinois Over the Last 8 Years
Over the last eight years, the median home values in McDonough County, Illinois have demonstrated some fluctuations, peaking at $100,400 in 2022 after a dip to $89,000 just a year earlier. In contrast, Illinois saw a steady increase from $173,800 in 2015 to $239,100 in 2022. Comparatively, national trends also exhibited significant growth, with median values rising from $125,500 in 2015 to $179,400 in 2022. For potential investors or homeowners, McDonough County's housing market may appear less stable but potentially more affordable compared to the broader state and national trends.
Residential Energy Tax Credit Per Tax Return in McDonough County, IL Over the Last 9 Years
Over the past nine years, McDonough County, Illinois has seen varied residential energy tax credits per tax return. After averaging around $779.41 in 2013, the figures peaked notably in 2018 with an average credit of $1533.33. Despite fluctuations, credits have remained relatively high in recent years, with 2020 averaging $1472.73. These trends suggest an increasing awareness and investment in energy-efficient home improvements, which could attract potential homebuyers, real estate developers, and investors interested in sustainable living.
Average Real Estate Taxes Per Tax Return in McDonough County, IL Over the Last 10 Years
Over the past decade, McDonough County, Illinois has seen a notable rise in average real estate taxes per tax return. From $3,543.69 in 2012, taxes have gradually increased to $5,416.67 in 2021. The uptick, especially from 2018 onwards, potentially reflects property value appreciation or local fiscal adjustments. This trend could indicate growing financial commitments for homeowners, influencing factors for potential buyers, investors, and those assessing property values.
Percentage of Farm Returns in McDonough County, IL Over the Last 10 Years
Farm tax returns in McDonough County, Illinois, have shown relatively stable yet subtly fluctuating percentages over the last decade, hovering around the 5.50% to 5.77% range. 2018 peaked at approximately 5.77%, while 2021 saw a slight dip to just about 5.19%. For potential investors and homeowners, these figures could be indicative of the county's agricultural stability and its role in the local economy, suggesting a consistent albeit slightly declining reliance on farming as an income source.
Number of Mortgages by Occupancy Type in McDonough County, IL Over the Last 5 Years in McDonough County
McDonough County, Illinois, has seen varied trends in mortgage counts by occupancy types over the past five years. Principal residence mortgage counts peaked in 2021 with 718 before dropping to 581 in 2022, indicating possible changes in primary home ownership demand. Investment property mortgages showed a consistent rise, culminating at 61 in both 2021 and 2022 from 24 in 2019, suggesting growing interest from real estate investors. Although second residences remain a small segment, fluctuations in this category could impact property valuations and insurance assessments. These changes hold significance for investors, appraisers, and those planning to buy or build, as they reflect underlying shifts in housing demand and investment potential.
Economic Outlook
In McDonough County, Illinois, the average taxable income per tax return has steadily increased from $49,479.92 in 2013 to $60,751.90 by 2021, hinting at economic resilience that may attract investors and property developers. Over the past decade, state and local income taxes have seen notable fluctuations, ranging from a low of $4459.15 in 2016 to a high of $8456.67 in 2020, potentially influencing cost of living considerations. Additionally, despite some dips, the average total tax liability... Read more
Average Taxable Income per Tax Return in McDonough County, IL over the last 9 years
Over the past nine years in McDonough County, Illinois, there has been a noticeable trend of increasing average taxable income per tax return. From $49,479.92 in 2013, the average climbed steadily, reaching $60,751.90 by 2021. This growth suggests potential economic resilience and could be an attractive factor for investors, property developers, and those considering relocation to the area.
Average State and Local Income Taxes Per Tax Return in McDonough County, IL Over the Last 10 Years
McDonough County, Illinois has seen significant fluctuations in average state and local income taxes per tax return over the past decade. In 2012, the average was $5451.38, hitting a low of $4459.15 in 2016, and then spiking to $8456.67 by 2020. This dramatic rise and fall in taxes can impact cost of living considerations and might influence decisions for those looking to invest, build property, or move to this area. Observing these trends is crucial for financial planning and understanding the economic climate in McDonough County.
Average Total Tax Liability Per Tax Return in McDonough County, IL Over the Last 10 Years
The average total tax liability per tax return in McDonough County, Illinois has generally been on the rise over the past decade. While there were some fluctuations, notably a dip in 2018 to $7,584.07, the trend has shown an upward trajectory, reaching $8,623.81 in 2021. This could imply a growing economic base or changes in tax policies impacting residents. Potential investors or those considering moving to the area might view this as a signal of economic growth, though it's crucial to weigh this against personal tax planning strategies.
Cost of Living in McDonough County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,078 | $1,432 | $2,569 | $1,058 | $1,419 |
| 1 adult 4 children | $1,078 | $1,169 | $1,970 | $1,058 | $1,449 |
| 2 adults 3 children | $1,078 | $1,170 | $2,227 | $1,058 | $1,161 |
| 1 adult 3 children | $1,078 | $955 | $1,627 | $1,058 | $1,170 |
| 2 adults 2 children | $794 | $957 | $1,884 | $959 | $987 |
| 1 adult 2 children | $794 | $715 | $1,285 | $959 | $883 |
| 2 adults 1 child | $794 | $757 | $1,541 | $640 | $941 |
| 1 adult 1 child | $794 | $489 | $942 | $640 | $744 |
| 2 adults | $650 | $608 | $1,199 | $0 | $753 |
| 1 adult | $545 | $332 | $599 | $0 | $571 |
Demographics
McDonough County, Illinois reveals intriguing demographic dynamics. The male to female ratio appears quite balanced, although females slightly outnumber males. Educational attainment emphasizes that a significant portion of the population has completed high school, with many also having some college experience or a degree. The age distribution indicates a youthful skew with substantial representation in the 20-24 age group, hinting at a possible influence of local universities or colleges. The... Read more
Race Distribution in McDonough County, Illinois (2022)
Educational Attainment in McDonough County, Illinois (2022)
Age Distribution in McDonough County, Illinois
Citizen Population in McDonough County, Illinois (2022)
Political Trends & Data
In McDonough County, Illinois, the 2020 U.S. Presidential election results showcase a notable Republican lead, capturing approximately 57% of the vote. Democrats trailed with around 41%, while Libertarians and other parties garnered less than 1% each. This voting pattern could hint at a strong Republican presence or lean in the area, potentially influencing local policies and community... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In McDonough County, Illinois, the 2020 U.S. Presidential election data suggests Republicans had a notable edge with roughly 57% of the vote compared to Democrats at around 41%. Libertarians and other parties collectively accounted for a small fraction of the votes, with each garnering around 1% or less. This distribution may indicate a strong Republican presence or lean in the county during that election cycle.
57.20% of voters voted for the Republican party in the 2020 Presidential Election
40.63% of voters voted for the Democrat party in the 2020 Presidential Election
1.41% of voters voted for the Livertarian party in the 2020 Presidential Election
0.44% of voters voted for the Green party in the 2020 Presidential Election
0.32% of voters voted for the Other party in the 2020 Presidential Election
School Data
The student-to-teacher ratio in McDonough County, Illinois has seen quite a bit of variation over the past nine years. It peaked at eighteen students per teacher in 2015 but dropped to under nine in 2022. Such fluctuations could impact real estate values and family decisions, as more personalized attention in schools often attracts families looking for quality education. This dynamic also influences how insurance agents assess risk and how appraisers determine property values in the... Read more
Student-to-teacher ratio in Mcdonough County, Illinois over the last 9 years
Over the last nine years, the student-to-teacher ratio in McDonough County, Illinois has fluctuated notably. It spiked to eighteen students per teacher in 2015, significantly higher than the national average of fourteen, likely indicating larger class sizes and potentially strained educational resources. However, it dipped to under nine in 2022, suggesting more personalized attention and a potential draw for families seeking quality education. These changes matter as they can influence everything from real estate values and parental decisions to invest or move to the area, to how insurance agents assess risk and appraisers determine property values.
