McLean County Real Estate and Livability Trends
In McLean County, Illinois, the median home value climbed from $160,500 in 2015 to $191,300 in 2022, hinting at a robust local market with rates beneath state averages but above national figures. Rising taxable incomes, which jumped from $67,990.08 in 2013 to $87,598.13 in 2021, hint at a strong economic pull for investors and homeowners despite increasing local tax liabilities. The county's... Read more
McLean County Market Trends
In McLean County, Illinois, the median home value has risen from $160,500 in 2015 to $191,300 in 2022, positioning it below the state median but well above the national average. This growth suggests a strengthening local market with relatively affordable rates. An increase in residential energy tax credits per tax return, peaking at $3,550.00 in 2018, points to a county-wide trend towards... Read more
Median Value of Occupied Housing Units in McLean County, Illinois Over the Last 8 Years
In McLean County, Illinois, the median home values have shown a steady upward trend over the last eight years, jumping from $160,500 in 2015 to $191,300 in 2022. While McLean County's 2022 median value of ~$191,300 remains below Illinois' overall state median of ~$239,100, it is nonetheless significantly higher than the national median of ~$179,400. People looking to invest, move, or build property in McLean County may find this growth indicative of a strengthening local housing market, albeit at a more affordable rate than state averages.
Residential Energy Tax Credit Per Tax Return in McLean County, IL Over the Last 9 Years
Over the past nine years, McLean County, Illinois has seen a notable increase in average residential energy tax credits per tax return, starting from $334.19 in 2013 and peaking dramatically at $3,550.00 in 2018. Despite fluctuations, a general upward trend suggests growing investment in energy-efficient home improvements. This uptick in energy tax credits is of particular interest to prospective homebuyers, real estate agents, and insurance agents as it could reflect a county-wide push towards sustainability, potentially influencing property values and insurance rates. Investors might find this trend indicative of a promising market for environmentally friendly housing initiatives.
Average Real Estate Taxes Per Tax Return in McLean County, IL Over the Last 10 Years
Over the last decade in McLean County, Illinois, there has been a notable upward trend in average real estate taxes per tax return, culminating in a rise from approximately $4,852.92 in 2012 to around $7,084.37 in 2021. This substantial increase, particularly the sharp jump seen between 2017 and 2019, may be of interest to potential investors and homeowners looking into property tax implications. Understanding these trends is crucial for appraisers and insurance agents when assessing property values and setting premiums, and it offers real estate agents a compelling angle for advising clients on long-term costs associated with property ownership in the area.
Percentage of Farm Returns in McLean County, IL Over the Last 10 Years
McLean County, Illinois has seen largely stable percentages of farm tax returns over the last decade, fluctuating modestly around 1.82%, with minor declines since 2019, recently dropping to around 1.72% in 2021. Farm returns, often linked to agricultural income and land productivity, provide crucial insight for those considering investments in farm-related ventures or relocations. Lower farm returns could imply shifts in agricultural viability or changing local economic dynamics, which may influence property value trends and broader economic conditions.
Number of Mortgages by Occupancy Type in McLean County, IL Over the Last 5 Years in McLean County
In McLean County, Illinois, mortgage data over the past five years shows a significant preference for principal residences, with this category consistently accounting for the majority of mortgages. Investment properties and second residences comprise much smaller portions. This trend may indicate a stable community focused on long-term homeownership rather than transient or secondary properties. For investors or developers, the lower numbers in investment and second properties might suggest limited immediate opportunities in these areas, yet also signal potential for growth as primary residence competitiveness increases. Appraisers and insurance agents might find the dominance of principal residences indicative of a market with potentially lower risks and more predictable values. For real estate agents and those considering moving to the area, it's worth noting that McLean County seems to be a place where people typically choose to settle down as their main residential base.
Economic Outlook
In McLean County, Illinois, average taxable incomes have surged from $67,990.08 in 2013 to $87,598.13 in 2021, indicating a strong economic trajectory that could entice investors and homeowners. However, state and local income taxes per tax return have more than doubled, reaching $11,612.62 in 2021, potentially influencing financial decisions for prospective property buyers. Additionally, average total tax liability has risen consistently, hitting $14,468.98 in 2021, further reflecting the... Read more
Average Taxable Income per Tax Return in McLean County, IL over the last 9 years
For those eyeing McLean County, Illinois, the trend in average taxable income shows a steady climb from $67,990.08 in 2013 to $87,598.13 in 2021. This notable increase suggests a robust economic growth that could make the county appealing for investors and potential homeowners. With incomes rising consistently, it’s an indicator of a potentially thriving community and a stable market for property developments.
Average State and Local Income Taxes Per Tax Return in McLean County, IL Over the Last 10 Years
Over the past decade in McLean County, Illinois, state and local income taxes per tax return have seen substantial growth, more than doubling from $5,813.46 in 2012 to $11,612.62 in 2021. Significant spikes occurred in 2018 and 2019, jumping from $6,072.37 to $9,231.58 and then to $11,147.16. This upward trend indicates an increasing tax burden, which could impact decisions for those looking to invest, move to, or develop property in McLean County.
Average Total Tax Liability Per Tax Return in McLean County, IL Over the Last 10 Years
In McLean County, Illinois, the average total tax liability per tax return has seen a consistent upward trend over the past decade. Starting at $11,061.89 in 2012, the liability gradually increased each year, with a notable jump occurring in 2021 to $14,468.98. This rise might indicate a growing economy or increasing incomes in the area, factors that are potentially enticing for investors and new residents considering the financial climate.
Cost of Living in McLean County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,394 | $1,496 | $2,446 | $1,533 | $1,745 |
| 1 adult 4 children | $1,394 | $1,222 | $1,883 | $1,533 | $1,800 |
| 2 adults 3 children | $1,394 | $1,222 | $2,116 | $1,533 | $1,470 |
| 1 adult 3 children | $1,394 | $998 | $1,553 | $1,533 | $1,533 |
| 2 adults 2 children | $987 | $1,000 | $1,786 | $1,384 | $1,154 |
| 1 adult 2 children | $987 | $747 | $1,223 | $1,384 | $1,107 |
| 2 adults 1 child | $987 | $791 | $1,456 | $897 | $1,050 |
| 1 adult 1 child | $987 | $511 | $893 | $897 | $876 |
| 2 adults | $793 | $635 | $1,126 | $0 | $796 |
| 1 adult | $698 | $346 | $563 | $0 | $617 |
Safety trends & Data
Property crimes in McLean County, Illinois could be improving as data suggests a notable decrease in incidents over the past two years. Burglaries dropped from 50 in 2021 to 30 in 2022, while larceny-theft cases also fell from 255 to 215. Vandalism incidents saw a significant decline from 102 to 63, and motor vehicle thefts reduced from 33 to 18. This trend might indicate a safer environment, potentially boosting appeal for homeowners and investors seeking a more secure... Read more
Property Crime Trends in McLean County, IL Over the Last 2 Years
Property crimes in McLean County, Illinois have seen a notable decrease in the past two years, indicating a potentially safer environment for residents and investors. The number of burglaries dropped from 50 in 2021 to 30 in 2022, and larceny-theft cases also saw a decline from 255 to 215. Vandalism incidents fell significantly from 102 to 63, and motor vehicle thefts reduced from 33 to 18. These trends could suggest an improving property security climate, making McLean County an appealing destination for homeowners, real estate agents, and investors looking to capitalize on a potentially stabilizing market.
Demographics
McLean County, Illinois, shows a relatively evenly split adult population with 61,971 males and 66,867 females. Higher educational attainment is prominent, with 32,113 holding a bachelor's degree and 16,371 possessing a graduate or professional degree, suggesting a well-educated demographic. Age distribution indicates a significant portion of residents are in the 20 to 34 years range, hinting at a younger, possibly more transient population likely associated with higher education institutions... Read more
Race Distribution in McLean County, Illinois (2022)
Educational Attainment in McLean County, Illinois (2022)
Age Distribution in McLean County, Illinois
Citizen Population in McLean County, Illinois (2022)
Political Trends & Data
McLean County in Illinois showed a closely contested political environment during the 2020 U.S. Presidential Election. Democrats received around 50.5% of the vote, edging out Republicans who captured about 46.6%. Third-party candidates, including Libertarians and Greens, garnered a modest share of the vote, indicating a small but noticeable preference for alternative political options. This dynamic suggests McLean County's voting population could be swing-prone, reflecting a potentially... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
McLean County in Illinois exhibited a fairly competitive political landscape during the 2020 U.S. Presidential Election. Democrats appeared to have a slight edge, garnering about 50.5% of the vote, while Republicans were close behind with approximately 46.6%. Third-party candidates, including Libertarians and Greens, captured a modest share of the total votes, hinting at a small but notable presence of alternative political preferences. This suggests a dynamic and potentially swing-prone voting population in the county.
46.55% of voters voted for the Republican party in the 2020 Presidential Election
50.50% of voters voted for the Democrat party in the 2020 Presidential Election
1.87% of voters voted for the Livertarian party in the 2020 Presidential Election
0.58% of voters voted for the Green party in the 2020 Presidential Election
0.51% of voters voted for the Other party in the 2020 Presidential Election
School Data
Over the past nine years, Mclean County, Illinois has seen the student-to-teacher ratio drop from 21 to 13 students per teacher, indicating a shift towards less crowded classrooms. For investors, new residents, and real estate professionals, this trend suggests an education-focused community that could boost property values and make the area more attractive. With a student-to-teacher ratio below the national average of 14, Mclean County stands out for its potential to offer more personalized... Read more
Student-to-teacher ratio in Mclean County, Illinois over the last 9 years
Over the past nine years, the student-to-teacher ratio in Mclean County, Illinois has shown a notable decrease from 21 students per teacher in 2014 to around 13 students per teacher in 2023. This downward trend means the classrooms are becoming less crowded, which might enhance individual student attention and improve educational outcomes. For potential investors, new residents, appraisers, insurance agents, builders, and real estate agents, these changes suggest a shift towards a more education-focused community, potentially increasing the area's attractiveness and property values. This is significantly below the current US national average of 14 students per teacher, making Mclean County stand out in terms of more personalized education.
