Richland County Real Estate and Livability Trends
Richland County, Illinois has seen a jump in average taxable income per tax return, rising from $47,220.40 in 2013 to $61,549.19 in 2021, which suggests a possibly expanding economy. Median home values rose to $106,400 in 2022, still below Illinois' state median but signaling potential appreciation. However, average state and local income taxes have fluctuated, with a high of $8,287.50 in 2020,... Read more
Richland County Market Trends
Richland County, Illinois has experienced a notable increase in median home values, hitting $106,400 in 2022. Although still below the Illinois state median of $239,100 and the national median of $179,400, this growth hints at potential for future appreciation, making the area attractive for investors. Residential energy tax credits have surged recently, reflecting increased investments in... Read more
Median Value of Occupied Housing Units in Richland County, Illinois Over the Last 8 Years
Richland County, Illinois has seen a steady increase in median home values over the past eight years, with a significant jump to $106,400 in 2022. While this is still lower than the Illinois state median of $239,100 and the national median of $179,400, the recent growth in Richland County might suggest emerging opportunities for investors or those considering relocation. Potential homebuyers could find more affordable options compared to state and national averages while potentially reaping future appreciation benefits as the area continues to develop.
Residential Energy Tax Credit Per Tax Return in Richland County, IL Over the Last 8 Years
Residential energy tax credits in Richland County, Illinois have generally increased over the past eight years, with significant jumps in recent years. Notably, there was a substantial rise from $560.00 in 2019 to $783.33 in 2020 and a further leap to $1166.67 in 2021. Earlier fluctuations were more moderate, with periods of slight decline and recovery, such as the dip from $315.38 in 2014 to $258.33 in 2015, then climbing again. These trends could indicate growing investments in energy-efficient home improvements, likely spurred by both increased environmental awareness and potential financial incentives. For real estate agents, appraisers, and insurance agents, this could suggest a rising value in properties with energy-efficient features in the county.
Average Real Estate Taxes Per Tax Return in Richland County, IL Over the Last 10 Years
Real estate taxes in Richland County, Illinois, have shown a general upward trend over the past decade, with an increase from $2,956.07 in 2012 to a peak of $4,964.71 in 2020. This upward movement, especially the notable hike between 2015 and 2017, may reflect changes in property valuations or local tax policies. The slight dip in 2021 to $4,633.33 suggests some volatility, which could be of interest to potential investors and property developers in assessing long-term tax liabilities. Understanding these trends is crucial for appraisers and insurance agents when evaluating property costs and risks in the area.
Percentage of Farm Returns in Richland County, IL Over the Last 10 Years
Farm tax returns in Richland County, Illinois have shown a modest upward trend over the past decade, with percentages generally fluctuating between 6.25% and 7.18%. The highest point was in 2018, at approximately 7.18%, while the lowest was noted in 2012 at 6.25%. For potential investors or those looking to build property, this trend suggests a stable but slightly growing agricultural economy, which may indicate reliable long-term prospects. Understanding these returns helps gauge the local market health, offering insights into the sustainability of farming operations in the region.
Number of Mortgages by Occupancy Type in Richland County, IL Over the Last 5 Years in Richland County
Richland County, Illinois has seen a consistent trend in mortgage counts for principal residences, which have significantly outpaced those for investment and second residences over the past five years. The number of mortgages for principal residences peaked in 2020 but has remained relatively robust. Investment properties and second residences show much lower volumes and variability. These trends can influence investment decisions, property development, and real estate market dynamics. Appraisers and insurance agents might interpret the high principal residence numbers as a sign of stable community growth, while developers and investors might see limited demand for non-primary living spaces. Understanding these patterns could be crucial for anyone looking to engage with the housing market in this area.
Economic Outlook
Richland County, Illinois has witnessed a notable rise in average taxable income per tax return over nine years, jumping from $47,220.40 in 2013 to $61,549.19 in 2021, hinting at a potentially growing economy that could attract investors and new residents. This growth, particularly strong post-2018, might be linked to recent economic developments. Conversely, average state and local income taxes have varied, from a low of $4,200.00 in 2016 to a high of $8,287.50 in 2020, reflecting shifts that... Read more
Average Taxable Income per Tax Return in Richland County, IL over the last 9 years
Richland County, Illinois has seen a noticeable increase in average taxable income per tax return over the last nine years, culminating in a marked rise from $47,220.40 in 2013 to $61,549.19 in 2021. This upward trend signals a potentially growing economy in the area, which could be appealing for investors and those considering relocating. The substantial jump, particularly post-2018, suggests recent economic factors or developments may be fueling higher earnings, making it an intriguing locale for new real estate ventures or business opportunities.
Average State and Local Income Taxes Per Tax Return in Richland County, IL Over the Last 10 Years
Over the past decade, Richland County, Illinois has experienced notable fluctuations in average state and local income taxes per tax return. From a low of $4,200.00 in 2016 to a high of $8,287.50 in 2020, the figures reveal underlying economic shifts. Noteworthy peaks in 2018, 2019, and 2020 suggest increased tax burdens that potential investors and residents should consider when evaluating the financial landscape of the county. The rising trends might reflect changes in local economic policies, income levels, or government funding requirements, presenting both challenges and opportunities for stakeholders.
Average Total Tax Liability Per Tax Return in Richland County, IL Over the Last 10 Years
Richland County, Illinois saw fluctuations in average total tax liability per tax return over the last decade, with a noticeable peak in 2021 at $8466.03. This peak contrasts with the relatively stable and lower values seen earlier in the period, such as $6501.29 in 2016. These trends might be reflective of broader economic conditions, changes in local tax regulations, or shifts in the county's demographics and income levels. Investors and potential residents should consider these variations as they might indicate economic growth or increased financial burden in recent years.
Cost of Living in Richland County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,063 | $1,283 | $2,902 | $1,058 | $1,482 |
| 1 adult 4 children | $1,063 | $1,048 | $2,227 | $1,058 | $1,505 |
| 2 adults 3 children | $1,063 | $1,048 | $2,514 | $1,058 | $1,216 |
| 1 adult 3 children | $1,063 | $856 | $1,839 | $1,058 | $1,216 |
| 2 adults 2 children | $774 | $858 | $2,126 | $959 | $1,021 |
| 2 adults 1 child | $774 | $678 | $1,738 | $640 | $969 |
| 1 adult 2 children | $774 | $641 | $1,451 | $959 | $915 |
| 1 adult 1 child | $774 | $438 | $1,063 | $640 | $760 |
| 2 adults | $685 | $545 | $1,350 | $0 | $790 |
| 1 adult | $557 | $297 | $675 | $0 | $587 |
Safety trends & Data
Property crime in Richland County, Illinois has seen some fluctuations recently, with notable increases in larceny-theft and vandalism between 2021 and 2022. Larceny-theft has more than doubled to 12 incidents, and vandalism rose to 8 from 5. These trends may influence property investors, real estate agents, and insurance agents, as escalating petty crimes could impact the desirability and risk assessments in the... Read more
Property Crime Trends in Richland County, IL Over the Last 2 Years
Property crime in Richland County, Illinois reveals some noteworthy fluctuations over the past two years. While 2021 saw lower incidents with burglary at 7, larceny-theft at 5, and motor vehicle theft at 1, 2022 demonstrated an uptick particularly in larceny-theft, which more than doubled to 12, and vandalism rising to 8 from 5. This trend may imply increasing petty crimes and property-related offenses. As a result, areas of concern for potential property investors, real estate agents, and insurance agents might center around the escalating rates of larceny and vandalism, affecting both the desirability and risk assessments within the region.
Demographics
Richland County, Illinois shows a relatively balanced gender distribution with a slight female majority. Educational attainment data suggests more residents have completed high school or attended some college rather than obtaining a bachelor's or higher degree. With a significant portion of the population falling within the 55 to 64 age range, the county may experience higher needs for services catering to older adults soon. Predominantly White, the racial diversity is limited, hinting at... Read more
Race Distribution in Richland County, Illinois (2022)
Educational Attainment in Richland County, Illinois (2022)
Age Distribution in Richland County, Illinois
Citizen Population in Richland County, Illinois (2022)
Political Trends & Data
Richland County, Illinois, strongly favored the Republican party in the 2020 U.S. Presidential Election, with nearly 76% of the vote, while Democrats secured around 23%. Minor parties, including Libertarians and Greens, captured only a small fraction. This trend indicates entrenched partisan loyalties and a limited appetite for alternative political movements, which could reflect the broader political climate in comparable Midwestern... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Richland County, Illinois, exhibited a striking preference for the Republican party in the 2020 U.S. Presidential Election, with nearly 76% of the vote. Democrats garnered around 23%, trailing significantly. Minor parties like the Libertarian and Green parties, along with other candidates, collectively captured only a small fraction, suggesting a strong lean towards traditional two-party politics in this region. This data could suggest entrenched partisan loyalties and limited appetite for alternative political movements, hinting at the broader political climate in similar Midwestern counties.
75.52% of voters voted for the Republican party in the 2020 Presidential Election
22.70% of voters voted for the Democrat party in the 2020 Presidential Election
1.24% of voters voted for the Livertarian party in the 2020 Presidential Election
0.33% of voters voted for the Green party in the 2020 Presidential Election
0.21% of voters voted for the Other party in the 2020 Presidential Election
School Data
Richland County, Illinois has experienced a fluctuating student-to-teacher ratio between 15 and 17 over the past nine years, typically exceeding the national average of 14. This trend could imply more crowded classrooms, potentially affecting educational quality, which is a crucial factor for families considering relocation. Investors and real estate agents should also consider this, as educational quality often influences property values and demand, while appraisers and insurance agents might... Read more
Student-to-teacher ratio in Richland County, Illinois over the last 9 years
Richland County, Illinois has seen its student-to-teacher ratio fluctuate between 15 and 17 over the past nine years, mostly above the US national average of fourteen. This higher ratio might imply more crowded classrooms, potentially affecting the quality of education and individual attention students receive. For families considering moving to the area, it's essential to weigh how these numbers might impact their children's learning environment. Prospective investors and real estate agents should take note, as educational quality often influences property values and demand. Additionally, appraisers and insurance agents might consider these fluctuations when calculating risk and valuations for local properties.
