Mercer County Real Estate and Livability Trends
Mercer County, Illinois has seen a significant rise in average taxable income, climbing from $56,171.70 in 2013 to $72,450.26 in 2021, which could hint at economic improvements. Meanwhile, median home values have steadily increased from $98,000 in 2015 to $131,000 in 2022, suggesting potentially stable investment opportunities compared to broader market trends in Illinois. Real estate taxes rose... Read more
Mercer County Market Trends
Mercer County, Illinois' housing market experienced a gradual upswing, with median home values creeping from $98,000 in 2015 to $131,000 in 2022. This steady climb contrasts with Illinois' broader market, which saw sharper increases, suggesting Mercer might offer more stable investment opportunities. Real estate taxes have risen consistently, hitting $5,063.16 in 2021, possibly reflecting local... Read more
Median Value of Occupied Housing Units in Mercer County, Illinois Over the Last 8 Years
Mercer County, Illinois' housing market shows a significant upward trend over the past eight years, with the median home value rising from $98,000 in 2015 to $131,000 in 2022. This increase is relatively modest compared to Illinois' broader market, where values have jumped from $173,800 to $239,100 in the same period. On a national scale, Mercer County's growth, while steady, is notably less aggressive, as the national median surged from $125,500 to $179,400. For potential investors, this steadier climb in Mercer County might suggest more stable and potentially less volatile investment opportunities than more rapidly appreciating markets.
Residential Energy Tax Credit Per Tax Return in Mercer County, IL Over the Last 8 Years
Mercer County, Illinois has seen notable fluctuations in residential energy tax credits per tax return over the past eight years. After a relatively stable period, the average credits experienced a significant spike in 2019, reaching $3042.86 and maintaining high values through 2020 at $2910.00 before dropping to $1418.18 in 2021. This volatility in energy tax credit amounts could indicate shifts in energy-efficient home improvements or changes in tax credit policies, which may be of interest to potential investors, real estate agents, insurance agents, or residents considering property upgrades.
Average Real Estate Taxes Per Tax Return in Mercer County, IL Over the Last 10 Years
Real estate taxes in Mercer County, Illinois, have shown a notable increase over the past decade. Starting at $3,350 in 2012, it's climbed steadily, hitting $5,063.16 in 2021. For those interested in investing, moving, or insuring properties here, this could indicate upward market trends or rising property values, which might affect long-term costs and returns on investment. Notably, a significant spike occurred from 2017 to 2018, jumping from approximately $3,636 to $4,440, hinting at changes in local tax policies or property assessments.
Percentage of Farm Returns in Mercer County, IL Over the Last 10 Years
Farm tax returns in Mercer County, Illinois, have oscillated slightly but overall show a gradual decrease over the last decade. Starting at about 8.22% in 2012, there was a slight dip to around 7.83% in 2021. Farm tax returns are crucial for assessing the health and productivity of local agriculture, reflecting both the economic vitality and potential investment opportunities within the county. Investors, property developers, and residents might interpret these figures as indicative of shifts in agricultural productivity or land use, which could influence economic strategies and development plans. Whether you're looking to invest in farmland or understand the agricultural trends in Mercer County, this data offers a useful glimpse into the county's agricultural dynamics.
Number of Mortgages by Occupancy Type in Mercer County, IL Over the Last 5 Years in Mercer County
In Mercer County, Illinois, mortgage trends over the past five years show a generally steady preference for principal residences, with a notable increase from 601 in 2018 to 871 in 2021, before dropping to 596 in 2022. The number of investment property mortgages has exhibited minor fluctuations, peaking at 47 in 2021 but consistently remaining below the principal residence figures. Mortgages for second residences have remained quite low, hovering below 10 per year, except for minor spikes. These changes in occupancy type are crucial for potential investors, movers, appraisers, and real estate agents because they reflect broader economic and social trends, such as the affordability and desirability of primary residences versus investment properties. Shifts in mortgage types could also indicate changing risk profiles for insurers and provide builders with insights into future construction demands.
Economic Outlook
Mercer County, Illinois has experienced a rise in average taxable income per tax return, climbing from $56,171.70 in 2013 to $72,450.26 in 2021, hinting at underlying economic improvements. Alongside, state and local income taxes have fluctuated significantly, peaking at $8,010.00 in 2021, influencing investment and relocation decisions. The total tax liability per tax return also peaked sharply at $10,584.90 in 2021 after a period of stabilization, suggesting economic recovery or tax policy... Read more
Average Taxable Income per Tax Return in Mercer County, IL over the last 9 years
Mercer County, Illinois has seen a notable rise in average taxable income per tax return over the past nine years. With figures fluctuating but generally increasing from $56,171.70 in 2013 to a peak of $72,450.26 in 2021, this trend could suggest a range of underlying economic improvements. For potential investors, property developers, and future residents, these numbers might indicate a gradually strengthening local economy, higher earning potential, and possibly shifting demographics. While there may be various factors driving this increase, the upward trajectory alone may be an encouraging sign for those assessing the area’s economic health and viability for long-term investments.
Average State and Local Income Taxes Per Tax Return in Mercer County, IL Over the Last 10 Years
Mercer County, Illinois has seen a notable fluctuation in average state and local income taxes per tax return over the last decade. From 2012 to 2021, taxes rose from $5,054.17 to a peak of $8,010.00, reflecting significant variations year-on-year. Noteworthy spikes occurred in 2019 and 2021, with the highest increase seen from 2019 to 2021. These changing tax rates could influence decisions related to investment, property development, and relocation, making the area potentially more expensive for newcomers or existing residents. This trend often signifies broader economic shifts within the county and could affect overall financial planning for residents.
Average Total Tax Liability Per Tax Return in Mercer County, IL Over the Last 10 Years
Over the past decade, Mercer County, Illinois has seen its average total tax liability per tax return fluctuate, peaking dramatically at $10,584.90 in 2021, potentially reflecting larger income gains or tax system changes in that year. While there was a notable drop between 2018 and 2020 when liabilities hovered around $7,800.00, the jump in 2021 could suggest economic recovery or variations in tax policy impacting residents. Investors and potential homebuilders might see this as an indicator of economic variability that merits closer financial scrutiny.
Cost of Living in Mercer County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,018 | $1,460 | $2,019 | $1,110 | $1,302 |
| 1 adult 4 children | $1,018 | $1,192 | $1,554 | $1,110 | $1,372 |
| 2 adults 3 children | $1,018 | $1,193 | $1,748 | $1,110 | $1,069 |
| 1 adult 3 children | $1,018 | $974 | $1,282 | $1,110 | $1,119 |
| 2 adults 2 children | $773 | $976 | $1,476 | $999 | $943 |
| 1 adult 2 children | $773 | $729 | $1,010 | $999 | $869 |
| 2 adults 1 child | $773 | $772 | $1,204 | $641 | $902 |
| 1 adult 1 child | $773 | $498 | $738 | $641 | $733 |
| 2 adults | $625 | $620 | $932 | $0 | $723 |
| 1 adult | $517 | $338 | $466 | $0 | $564 |
Safety trends & Data
Mercer County, Illinois has experienced notable fluctuations in property crime over the past three years. While 2020 saw relatively low incidents, larceny-theft cases spiked to 7.0 in 2021, accompanied by sporadic forgery and fraud cases. By 2022, these numbers receded, particularly in vandalism, which stabilized but remained prevalent. These trends may suggest either successful law enforcement efforts or different criminal behavior, which could be vital for investors and real estate agents in... Read more
Property Crime Trends in Mercer County, IL Over the Last 3 Years
Over the past three years, Mercer County, Illinois has seen some fluctuations in property crime rates. 2020 had relatively low incidents with just a handful of reported cases primarily in larceny-theft, motor vehicle theft, and vandalism. In 2021, there was a notable spike in larceny-theft cases jumping to 7.0, alongside a few cases of forgery, counterfeiting, and fraud, indicating potential economic pressures or opportunities for financial crimes. By 2022, the numbers receded again, most significantly in vandalism which remained prevalent but stable. These trends could suggest either successful local law enforcement interventions or shifting criminal patterns, relevant for investors, real estate agents, and residents in gauging the safety and economic viability of the area.
Demographics
In Mercer County, Illinois, the adult population shows a nearly balanced male-to-female ratio, which could suggest stable gender dynamics in the workforce and community activities. Educational attainment data indicates a strong presence of high school graduates and residents with some college education but no degree, potentially reflecting local opportunities or the characteristics of available employment. The age distribution reveals a significant number of residents in the 55-64 age range,... Read more
Race Distribution in Mercer County, Illinois (2022)
Educational Attainment in Mercer County, Illinois (2022)
Age Distribution in Mercer County, Illinois
Citizen Population in Mercer County, Illinois (2022)
Political Trends & Data
Mercer County, Illinois leaned significantly Republican in the 2020 U.S. Presidential Election, with over 60% of votes. Democrats managed around 37%, and third parties like the Libertarians and Greens captured modest shares, approximately 1.5% and 0.5% respectively. This predominantly conservative voter base might shape local and state-level political dynamics, possibly impacting policy decisions and community planning in the... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Mercer County, Illinois saw a majority leaning towards the Republican side in the 2020 U.S. Presidential Election, with over 60% of the vote. Democrats garnered about 37%, while third parties like the Libertarians and Greens captured only a modest share, roughly 1.5% and 0.5% respectively. This distribution may suggest a predominantly conservative voter base in this region, potentially influencing local and state-level political dynamics.
60.92% of voters voted for the Republican party in the 2020 Presidential Election
36.88% of voters voted for the Democrat party in the 2020 Presidential Election
1.51% of voters voted for the Livertarian party in the 2020 Presidential Election
0.54% of voters voted for the Green party in the 2020 Presidential Election
0.15% of voters voted for the Other party in the 2020 Presidential Election
School Data
Mercer County, Illinois has seen notable fluctuations in its student-to-teacher ratio over the last nine years, ranging from a low of 13 in 2019 to a high of 16 in 2023. This recent spike to 16, surpassing the national average of 14, could influence aspects like classroom sizes and resource allocation. Real estate investors and potential movers should monitor these changes as they can impact property values and the general attractiveness of the area. Understanding these trends is also important... Read more
Student-to-teacher ratio in Mercer County, Illinois over the last 9 years
Mercer County, Illinois has seen fluctuations in its student-to-teacher ratio over the last nine years, with ratios ranging from a low of 13 students per teacher in 2019 to a high of 16 in 2023. Most recently, the ratio has increased significantly, reaching 16 in 2023, which is notably higher than the national average of 14. Changes in occupancy type might matter as they could impact funding, classroom sizes, and resource allocation. For investors, real estate agents, and those looking to move to the area, understanding these fluctuations can shed light on the school district's ability to offer personalized education, potentially affecting property values and the attractiveness of the area as a residential location. Appraisers and insurance agents might also find these trends relevant when evaluating property risks and values.
