Peoria County Real Estate and Livability Trends
Peoria County, Illinois has experienced notable economic fluctuations, with average taxable income per tax return reaching $87,284.54 in 2021 from $63,358.58 in 2013. Median home values have risen modestly from $126,600 in 2015 to $150,400 by 2022, albeit at a slower rate compared to the state. Significant real estate tax increases to $7,974.87 by 2021 may signal rising property values or tax... Read more
Peoria County Market Trends
Over the past eight years, Peoria County, Illinois has seen its median home value rise modestly from $126,600 in 2015 to $150,400 by 2022, a slower pace compared to Illinois as a whole. Residential energy tax credits spiked dramatically in 2018, suggesting a temporary surge in energy-efficient upgrades. Average real estate taxes have also significantly increased from $4,881.94 in 2012 to... Read more
Median Value of Occupied Housing Units in Peoria County, Illinois Over the Last 8 Years
Over the past eight years, the median home value in Peoria County, Illinois has seen a modest upward trend, starting at $126,600 in 2015 and rising to $150,400 by 2022. This increase, though significant, is considerably slower compared to Illinois as a whole, where the median value jumped from $173,800 to $239,100 within the same period. Nationally, the median home values surged more sharply from $125,500 to $179,400, indicating that Peoria County's market remains more affordable but might underperform in terms of investment growth. This context could be crucial for potential investors, homebuyers, and current residents evaluating property appreciation potential and market stability.
Residential Energy Tax Credit Per Tax Return in Peoria County, IL Over the Last 9 Years
Peoria County, Illinois has seen some notable fluctuations in the average residential energy tax credit per tax return over the past nine years. After modest increases from $292.37 in 2013 to $445.45 in 2017, there was a substantial spike to $2983.33 in 2018, likely due to a surge in energy-efficient home improvements. This figure tapered to $951.72 by 2021, but investment in energy savings remains significant. Such data could indicate a trend in homeowners making large-scale energy-efficient upgrades, making Peoria County potentially attractive for those interested in green building and sustainable living initiatives.
Average Real Estate Taxes Per Tax Return in Peoria County, IL Over the Last 10 Years
Over the past decade, Peoria County, Illinois has seen a gradual increase in average real estate taxes per tax return, starting from $4,881.94 in 2012 and rising to $7,974.87 by 2021. This notable growth trend, especially the sharp rise between 2016 and 2018, may indicate increasing property values or higher tax rates, which could be a critical consideration for potential investors and homeowners. Understanding these trends is important for those assessing the long-term cost implications of owning property in this area.
Percentage of Farm Returns in Peoria County, IL Over the Last 10 Years
Farm tax returns in Peoria County, Illinois have hovered around 1.17% to 1.14% over the past decade. This relatively stable trend suggests a consistent presence of farming activities despite year-to-year fluctuations. Prospective investors or residents interested in rural or agricultural ventures might find this stability appealing. The data represents the proportion of total returns that come from farms, indicating a niche but steady contribution to the local economy and potentially resilient agricultural sector.
Number of Mortgages by Occupancy Type in Peoria County, IL Over the Last 5 Years in Peoria County
In Peoria County, Illinois, mortgage counts for principal residences have seen fluctuations, peaking at 8,947 in 2021 and dropping to 6,031 in 2022. Investment properties generally held steady but saw a slight decline from 671 in 2021 to 632 in 2022. Second residences remain a small fraction of the market with values consistently around the mid-50s to 80s. Changes in occupancy type are significant for investors and real estate agents as they reflect shifting housing demands, potentially impacting property values and rental markets. For appraisers and insurance agents, these trends might suggest evolving risk profiles and valuation benchmarks, influencing policy and rate adjustments. Understanding these shifts can offer crucial insights for anyone interested in Peoria County's real estate dynamics.
Economic Outlook
Peoria County, Illinois, has seen a notable rise in average taxable income per tax return over the past nine years, peaking at $87,284.54 in 2021, up from $63,358.58 in 2013. Meanwhile, state and local income taxes saw significant increases post-2018, reaching $16,022.07 in 2021, which might be tied to changes in local fiscal policies. The average total tax liability per tax return also spiked in 2021, jumping to $16,370.15. Fluctuating poverty rates, peaking in 2021 at 17.5% but declining to... Read more
Average Taxable Income per Tax Return in Peoria County, IL over the last 9 years
Over the past nine years, Peoria County, Illinois, has seen an upward trend in the average taxable income per tax return, with a significant increase in 2021 where it reached $87,284.54. This rise from $63,358.58 in 2013 suggests growing economic potential that might be attractive for investors and those considering moving or building properties in the area. The period between 2018 and 2021 shows noticeable fluctuations, implying external economic factors may also play a role in these changes. For residents, these trends could indicate stronger local economic conditions, potentially impacting property values and quality of life.
Average State and Local Income Taxes Per Tax Return in Peoria County, IL Over the Last 10 Years
The average state and local income taxes per tax return in Peoria County, Illinois, have shown significant fluctuations over the past decade. From a steady range around $7,300.00 in the early years, there's a marked increase post-2018, peaking to $16,022.07 in 2021. This dramatic rise in recent years signals potential changes in local fiscal policies or economic conditions, which can be crucial for prospective investors, new residents, or property developers to consider. Understanding these trends can help predict future tax obligations and financial planning needs.
Average Total Tax Liability Per Tax Return in Peoria County, IL Over the Last 10 Years
Over the last decade, Peoria County, Illinois has experienced relatively stable average total tax liability per tax return, hovering mostly between $11,882.43 and $13,193.77. However, 2021 marks a noticeable spike, with tax liabilities jumping to $16,370.15. This fluctuation could signal changes in economic conditions, property valuations, or tax policies that may influence real estate investments and financial planning in the area.
Cost of Living in Peoria County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,185 | $1,504 | $2,544 | $1,533 | $1,669 |
| 1 adult 4 children | $1,185 | $1,228 | $1,958 | $1,533 | $1,684 |
| 2 adults 3 children | $1,185 | $1,229 | $2,200 | $1,533 | $1,368 |
| 1 adult 3 children | $1,185 | $1,003 | $1,615 | $1,533 | $1,407 |
| 2 adults 2 children | $912 | $1,006 | $1,857 | $1,384 | $1,125 |
| 1 adult 2 children | $912 | $751 | $1,272 | $1,384 | $1,077 |
| 2 adults 1 child | $912 | $795 | $1,514 | $897 | $1,032 |
| 1 adult 1 child | $912 | $513 | $928 | $897 | $848 |
| 2 adults | $720 | $639 | $1,170 | $0 | $774 |
| 1 adult | $651 | $348 | $585 | $0 | $588 |
Safety trends & Data
Property crime in Peoria County, Illinois has seen a notable increase from 2021 to 2022, evidenced by a spike in burglaries from 22.0 to 127.0 cases, larceny-theft from 32.0 to 259.0 cases, and vandalism from 23.0 to 262.0 cases. This trend may raise concerns about property security, influencing decisions for potential investors, future residents, insurers, and real estate... Read more
Property Crime Trends in Peoria County, IL Over the Last 2 Years
Property crime in Peoria County, Illinois has shown a notable increase from 2021 to 2022, particularly in categories like Burglary, Larceny-Theft, and Vandalism. For instance, burglaries surged from 22.0 cases in 2021 to 127.0 cases in 2022. Similarly, instances of larceny-theft went from 32.0 to 259.0, and vandalism jumped from 23.0 to 262.0 within the same timeframe. This upward trend suggests a growing concern for property security, impacting decisions for potential investors, future residents, insurers, and real estate agents.
Demographics
Peoria County, Illinois, shows a roughly balanced gender distribution among its adult population with slightly more females than males. Educational attainment levels in the county suggest a strong base in high school education or higher, but there's a noticeable drop-off in college completion rates. The age distribution indicates a varied age range with a significant portion in the 25 to 64-year-old brackets, potentially hinting at a robust working-age population. Racially, the population is... Read more
Race Distribution in Peoria County, Illinois (2022)
Educational Attainment in Peoria County, Illinois (2022)
Age Distribution in Peoria County, Illinois
Citizen Population in Peoria County, Illinois (2022)
Political Trends & Data
In Peoria County, Illinois, the 2020 U.S. Presidential Election results reveal a competitive political environment, with Democrats achieving roughly 51.9% of the vote and Republicans around 45.6%. Notable minor party influences include Libertarians at about 1.6% and Greens at 0.6%, indicating periodic sway in the predominantly two-party system. This political landscape might impact local policies and real estate trends, reflecting diverse voter priorities and potentially affecting market... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Peoria County, Illinois, the 2020 U.S. Presidential Election results suggest a marginal edge for Democrats, who secured about 51.9% of the vote. Republicans trailed closely with approximately 45.6%, indicating a politically competitive landscape. Libertarians and Green Party supporters made up smaller, yet notable, portions of the electorate, capturing around 1.6% and 0.6% of votes respectively. This distribution hints at a primarily two-party system with periodic influences from minor parties.
45.55% of voters voted for the Republican party in the 2020 Presidential Election
51.90% of voters voted for the Democrat party in the 2020 Presidential Election
1.56% of voters voted for the Livertarian party in the 2020 Presidential Election
0.60% of voters voted for the Green party in the 2020 Presidential Election
0.39% of voters voted for the Other party in the 2020 Presidential Election
School Data
Peoria County, Illinois has seen its student-to-teacher ratio dip from a high of 16 students per teacher in 2017 to around 13 by 2023, which is lower than the national average of about 14. This trend may signal a more personalized education environment, potentially boosting the area's appeal. Understanding these dynamics can be crucial for real estate investment, valuation, and insurance purposes, as a favorable student-to-teacher ratio often reflects higher educational quality, an attractive... Read more
Student-to-teacher ratio in Peoria County, Illinois over the last 9 years
Peoria County, Illinois has seen fluctuations in its student-to-teacher ratio over the past nine years, with notable highs in 2017 at 16 students per teacher and lows more recently, reaching around 13 by 2023. This compares to the national average of about 14 students per teacher. For investors, real estate agents, or anyone considering building property in the area, understanding these changes can be crucial as a lower student-to-teacher ratio often indicates a more personalized education environment. Appraisers and insurance agents might find this relevant for assessing the desirability of the area, while families moving in will likely look at these ratios as a proxy for educational quality.
