McHenry County Real Estate and Livability Trends
McHenry County, Illinois, has seen a notable rise in average taxable income per tax return, peaking at $96,754.30 in 2021, which could signal higher earning opportunities in the area. Median home values have surged from $208,200 in 2015 to $270,600 in 2022, potentially surpassing state and national growth rates, indicating a possibly stronger local market performance. A significant decline in the... Read more
McHenry County Market Trends
In McHenry County, Illinois, median home values have surged from $208,200 in 2015 to $270,600 in 2022, surpassing both state and national growth rates, suggesting a potentially stronger local market performance. This rise, possibly driven by regional economic factors, could make the area appealing to investors and new residents. Additionally, residential energy tax credits saw a significant spike... Read more
Median Value of Occupied Housing Units in McHenry County, Illinois Over the Last 8 Years
Over the last eight years, McHenry County, Illinois has seen a consistent rise in median home values, jumping from $208,200 in 2015 to $270,600 in 2022. This increase appears to outpace both the national and state levels, where Illinois saw values move from $173,800 to $239,100 and the national median values grew from $125,500 to $179,400 over the same period. This trend may point to a stronger local market performance, possibly driven by regional economic factors or demand, making McHenry County potentially attractive for investors and new residents compared to broader benchmarks.
Residential Energy Tax Credit Per Tax Return in McHenry County, IL Over the Last 9 Years
Residential energy tax credits in McHenry County, Illinois, have shown considerable fluctuations over the past nine years. From a steady rise in early years, reaching $336.82 in 2017, a significant spike to $1,625.00 was observed in 2018. This surge could suggest increased investments in energy-efficient home improvements or policy changes favoring such expenditures. Although the credit amounts tapered off somewhat following 2018, they remained relatively high, indicating sustained homeowner interest in energy-efficient upgrades. This trend can be quite telling for investors, insurance agents, and real estate professionals, indicating a community increasingly prioritizing sustainable energy solutions, possibly translating to higher property values and lower long-term energy costs.
Average Real Estate Taxes Per Tax Return in McHenry County, IL Over the Last 10 Years
McHenry County, Illinois, has seen a consistent upward trend in average real estate taxes over the past decade, climbing from approximately $6,840.06 in 2012 to about $8,639.78 in 2021. This steady rise can impact property investment decisions, with potential homeowners and real estate investors needing to account for higher annual tax obligations. Insurance agents and appraisers will also find this data useful when evaluating insurance premiums and property values. The trend highlights the importance for potential movers to factor in increasing tax expenses over time.
Percentage of Farm Returns in McHenry County, IL Over the Last 10 Years
Over the past decade, McHenry County in Illinois has seen a gradual decline in farm tax returns, from approximately 0.54% in 2012 to around 0.45% in 2021. Farm tax returns represent filings by agricultural entities claiming incomes and expenses related to farming activities. This downward trend could potentially reflect a shift in land use or economic focus, which might be significant for investors, property developers, and residents interested in the county’s agricultural viability and land value dynamics.
Number of Mortgages by Occupancy Type in McHenry County, IL Over the Last 5 Years in McHenry County
Observing the mortgage trends in McHenry County, Illinois over the past five years, there's a clear dominance in principal residence mortgages, which outnumber investment and second residence mortgages by a significant margin. The increased number of mortgages for principal residences, particularly in 2021, might suggest heightened interest in permanent homeownership, possibly due to economic conditions or a perceived stability in the housing market. A slight dip in investment property mortgages could indicate cautious investor behavior or a shift in market dynamics, important for those looking to invest, as it might affect property values and rental demand. For insurance agents and real estate professionals, these shifts can reveal changes in risk profiles and property value trends. Those considering moving to or building in McHenry County should watch these trends to better understand the area's housing market and future growth potential.
Economic Outlook
McHenry County, Illinois has seen a notable rise in average taxable income per tax return over the past nine years, peaking at $96,754.30 in 2021, indicative of a potential economic boost and higher earning opportunities. State and local income taxes per tax return have also fluctuated but significantly increased to $10,124.17 by 2021, which could impact disposable income and cost of living considerations for new residents or investors. Average total tax liability saw a peak of $16,283.14 in... Read more
Average Taxable Income per Tax Return in McHenry County, IL over the last 9 years
Over the last nine years, McHenry County in Illinois has experienced a notable increase in average taxable income per tax return, peaking at $96,754.30 in 2021. From a modest $69,037.57 in 2013, the county's consistent upward trend suggests a growing economy and potentially higher earning opportunities for residents. This upward movement could be inviting for investors and prospective homeowners looking for a community with strong financial growth.
Average State and Local Income Taxes Per Tax Return in McHenry County, IL Over the Last 10 Years
Over the past decade, McHenry County, Illinois has experienced varying trends in state and local income taxes per tax return. Notably, there was a significant jump in these taxes starting from $5,800.49 in 2012 to peaking at $10,124.17 by 2021. The increase around 2018 and after marks a crucial change, suggesting shifts in policy or economic factors affecting residents' tax burdens. For investors or future residents, understanding these tax fluctuations is vital as it could impact disposable income and overall cost of living in the area.
Average Total Tax Liability Per Tax Return in McHenry County, IL Over the Last 10 Years
McHenry County, Illinois has generally seen an upward trend in average total tax liability per tax return over the past decade, peaking significantly in 2021 at $16,283.14. The years 2015 and 2017 also stood out with notable increases, reaching $13,085.67 and $13,136.87 respectively. Though there were slight decreases in some years, the overall trajectory suggests a substantial rise, potentially impacting investment or relocation decisions in the area. This may reflect broader economic trends or changes in local taxation policies.
Cost of Living in McHenry County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,848 | $1,556 | $1,897 | $2,027 | $2,072 |
| 1 adult 4 children | $1,848 | $1,271 | $1,459 | $2,027 | $2,188 |
| 2 adults 3 children | $1,848 | $1,271 | $1,641 | $2,027 | $1,813 |
| 1 adult 3 children | $1,848 | $1,038 | $1,203 | $2,027 | $1,938 |
| 2 adults 2 children | $1,457 | $1,041 | $1,386 | $1,806 | $1,470 |
| 1 adult 2 children | $1,457 | $777 | $948 | $1,806 | $1,496 |
| 2 adults 1 child | $1,457 | $823 | $1,131 | $1,089 | $1,231 |
| 1 adult 1 child | $1,457 | $531 | $693 | $1,089 | $1,170 |
| 2 adults | $1,270 | $661 | $876 | $0 | $941 |
| 1 adult | $1,172 | $360 | $438 | $0 | $792 |
Safety trends & Data
Property crime rates in McHenry County, Illinois have shown a marked increase over the past few years, especially in larceny-theft incidents, which surged from 19 in 2020 to 211 in 2022. Burglary rates also climbed from 2 to 20 during the same period. Additionally, increases in fraud and vandalism contribute to the area’s growing crime rate. Understanding these trends can help investors, homeowners, and insurance agents better assess the economic and security landscape before making... Read more
Property Crime Trends in McHenry County, IL Over the Last 3 Years
Property crime trends in McHenry County, Illinois over the past three years indicate a significant increase in certain categories, particularly larceny-theft, which surged from 19 incidents in 2020 to 211 in 2022. Burglary incidents also grew, from 2 in 2020 to 20 in 2022, while fraud and vandalism saw notable rises too, making up much of the increased crime rate. Insight into these trends is critical for potential investors, homeowners, and insurance agents to gauge the economic and security landscape before committing resources to the area.
Demographics
McHenry County, Illinois reveals a relatively balanced gender distribution with a slight female majority. Educational attainment indicates a broad spectrum, with a majority either holding a high school diploma, some college, or a bachelor's degree. This could suggest a well-rounded workforce with diverse academic backgrounds, which might be attractive for employers. The age distribution skews towards middle age, possibly reflecting a stable, family-oriented community while the predominant... Read more
Race Distribution in McHenry County, Illinois (2022)
Educational Attainment in McHenry County, Illinois (2022)
Age Distribution in McHenry County, Illinois
Citizen Population in McHenry County, Illinois (2022)
Political Trends & Data
McHenry County, Illinois, shows a tight political landscape from the 2020 U.S. Presidential Election, with Republicans possibly edging out with 50.2% of the vote and Democrats close behind at 47.7%. Minor parties like the Libertarians and Green Party might have influenced the results slightly with around 1.3% and 0.5% of the vote, respectively. This competitive environment could impact the local real estate market, given that political stability often plays a role in property values and buyer... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In McHenry County, Illinois, the 2020 U.S. Presidential Election saw a slight Republican edge, with around 50.2% of votes possibly leaning Republican and approximately 47.7% favoring Democrats. Libertarians and Green Party candidates might have had minor but non-negligible impacts, gathering about 1.3% and 0.5% of the vote, respectively. This narrow margin suggests a competitive political landscape in the county.
50.20% of voters voted for the Republican party in the 2020 Presidential Election
47.69% of voters voted for the Democrat party in the 2020 Presidential Election
1.33% of voters voted for the Livertarian party in the 2020 Presidential Election
0.48% of voters voted for the Green party in the 2020 Presidential Election
0.31% of voters voted for the Other party in the 2020 Presidential Election
School Data
McHenry County, Illinois, has experienced a significant decline in its student-to-teacher ratio, dropping from over twenty in 2014 to just under thirteen by 2023. This demographic shift suggests enhanced educational conditions which could be attractive to families looking for more personalized learning environments for their children. Investors and real estate agents might see this as a positive indicator for stable or increasing home values. Meanwhile, appraisers and insurance agents might... Read more
Student-to-teacher ratio in Mchenry County, Illinois over the last 9 years
Over the past nine years, McHenry County, Illinois, has seen a notable decline in its student-to-teacher ratio, from over twenty in 2014 to just under thirteen in 2023. This trend may indicate improving educational conditions, providing a more personalized learning environment compared to the national average of fourteen students per teacher. For families considering moving to the area, this could suggest better educational support for their children. Investors and real estate agents might view this as a supportive factor for stable or increasing home values, while appraisers and insurance agents could interpret the lower ratios as a sign of community investment in education infrastructure. Builders and developers might also see this as a prompt for potential residential projects that cater to young families.
