Vermilion County Real Estate and Livability Trends
In Vermilion County, Illinois, the surge in average taxable income from $44,624.88 in 2013 to $55,017.95 in 2021 signals economic growth, but rising state and local taxes and a fluctuating poverty rate remind investors of the region's complex economic dynamics. Median home values have increased modestly from $75,800 to $91,000 between 2015 and 2022, making the area appealing for budget-conscious... Read more
Vermilion County Market Trends
Vermilion County, Illinois has seen a rise in median home values from $75,800 to $91,000 between 2015 and 2022, although these figures remain much lower than both state and national averages. This affordability potentially appeals to budget-conscious homebuyers and investors. Average residential energy tax credits have fluctuated significantly, peaking at $1,820.00 in 2018 and settling at... Read more
Median Value of Occupied Housing Units in Vermilion County, Illinois Over the Last 8 Years
Vermilion County, Illinois has seen a gradual increase in median home values over the last eight years, notably rising from $75,800 in 2015 to $91,000 in 2022. While this reflects positive growth, these values are significantly lower compared to the state average, which increased from $173,800 to $239,100 in the same period. On a national scale, the median home values surged from $125,500 to $179,400, indicating that Vermilion County offers a more affordable housing market relative to both Illinois and the United States. This makes the county potentially attractive for budget-conscious homebuyers and real estate investors looking for lower entry points.
Residential Energy Tax Credit Per Tax Return in Vermilion County, IL Over the Last 9 Years
Vermilion County, Illinois has seen significant fluctuations in average residential energy tax credits per tax return over the past nine years. From a modest $310.47 in 2013, the average peaked dramatically at $1,820.00 in 2018 before settling at $1,197.06 in 2021. This upward trend indicates an increased focus on energy-efficient home improvements, potentially enhancing property values and appeal for future homeowners and investors. Real estate professionals might find these energy incentives a compelling selling point, while appraisers and insurance agents should consider the implications of enhanced property features on valuations and coverage needs.
Average Real Estate Taxes Per Tax Return in Vermilion County, IL Over the Last 10 Years
Over the last decade, Vermilion County, Illinois has seen a marked increase in average real estate taxes per tax return, rising from approximately $3007.41 in 2012 to around $4498.33 in 2021. This gradual and consistent upward trend, with notable jumps particularly between 2016 and 2020, could be a key indicator of shifting property values and potentially increasing budget allocations by the local government. For investors, real estate agents, or anyone planning to build or move to the area, understanding this tax trajectory may be essential for financial forecasting and assessing the long-term affordability of property ownership in Vermilion County.
Percentage of Farm Returns in Vermilion County, IL Over the Last 10 Years
Over the last decade, the percentage of farm tax returns in Vermilion County, Illinois, has shown a slight but consistent decline from 2.28% in 2012 to 1.94% in 2021. Farm tax returns indicate the proportion of tax filings that come from agricultural operations, providing insights into the local agricultural economy. This trend might suggest a gradual decrease in farming activities or farm profitability in the area. For investors and residents, understanding these changes could be essential for making informed decisions about property investments, local business opportunities, and community development in the county.
Number of Mortgages by Occupancy Type in Vermilion County, IL Over the Last 5 Years in Vermilion County
Examining the trends in the number of mortgages by occupancy type in Vermilion County, Illinois reveals fluctuations that could influence multiple stakeholders. Principal residences show substantial growth from 2018 to 2021, jumping from 1,647 to 2,389 mortgages, then declining to 1,766 by 2022. This variability might suggest shifts in population dynamics or economic conditions. Investment property mortgages remain relatively stable, with a slight dip, indicating consistent interest but possibly rising competition or less favorable investor market conditions. Second residence mortgages, though minimal, hint at low but possibly emerging interest in vacation homes or secondary properties. These shifts could impact property valuations, insurance rates, and local economic development, offering key insights for those looking to invest, build, or move into the area.
Economic Outlook
Vermilion County, Illinois has seen average taxable income per tax return jump from $44,624.88 in 2013 to $55,017.95 in 2021, suggesting economic improvement and potentially attractive opportunities for new businesses and residents. However, state and local income taxes also rose sharply from $4,311.48 in 2016 to $8,597.22 in 2019, impacting the cost of living and investment decisions. Despite fluctuations, average total tax liability per tax return has generally increased, suggesting a rising... Read more
Average Taxable Income per Tax Return in Vermilion County, IL over the last 9 years
Over the past nine years, Vermilion County, Illinois, has experienced a noticeable upward trend in average taxable income per tax return. From $44,624.88 in 2013, it steadily rose to $55,017.95 in 2021, indicating a general economic improvement in the region. Especially interesting to potential investors and homeowners is the significant increase from 2020 to 2021, suggesting robust financial health or favorable economic policies. This rising income level can make the area more appealing for new businesses and residents looking for growth opportunities.
Average State and Local Income Taxes Per Tax Return in Vermilion County, IL Over the Last 10 Years
Over the last decade, Vermilion County, Illinois has seen a significant increase in average state and local income taxes per tax return. From a low of $4,311.48 in 2016, the taxes rose sharply to $8,597.22 in 2019, reflecting a growing tax burden. This trend could impact investment decisions and cost-of-living calculations for residents and potential newcomers, making it essential to account for these rising taxes when planning financially.
Average Total Tax Liability Per Tax Return in Vermilion County, IL Over the Last 10 Years
Vermilion County, Illinois has seen fluctuations in average total tax liability per tax return over the last decade, with a general upward trend. Starting around $6,372.45 in 2012, it gradually increased to a peak of approximately $7,323.60 in 2021. This might signal a rising tax burden over time, though the dip observed in 2018 suggests variability. These changes could impact decisions for potential investors and prospective residents, highlighting the importance of understanding local tax trends for financial planning.
Cost of Living in Vermilion County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,112 | $1,391 | $2,580 | $1,110 | $1,431 |
| 1 adult 4 children | $1,112 | $1,136 | $1,986 | $1,110 | $1,467 |
| 2 adults 3 children | $1,112 | $1,137 | $2,231 | $1,110 | $1,173 |
| 1 adult 3 children | $1,112 | $928 | $1,638 | $1,110 | $1,188 |
| 2 adults 2 children | $878 | $931 | $1,883 | $999 | $1,010 |
| 1 adult 2 children | $878 | $695 | $1,290 | $999 | $919 |
| 2 adults 1 child | $878 | $735 | $1,535 | $641 | $954 |
| 1 adult 1 child | $878 | $475 | $942 | $641 | $760 |
| 2 adults | $667 | $591 | $1,187 | $0 | $742 |
| 1 adult | $646 | $322 | $593 | $0 | $590 |
Safety trends & Data
Vermilion County, Illinois, may be experiencing fluctuating property crime rates, with vandalism, burglary, larceny-theft, and fraud occurring most frequently. Larceny-theft incidents peaked at 167 in 2022, while vandalism cases rose steadily, reaching 98 that same year. These crime trends could potentially affect property values and insurance premiums, making it important for investors, homeowners, and real estate professionals to stay informed about the local crime... Read more
Property Crime Trends in Vermilion County, IL Over the Last 3 Years
Vermilion County, Illinois has seen fluctuating but notably high property crime rates over the past three years. Vandalism, burglary, larceny-theft, and fraud were among the most frequent offenses. Arson saw a jump in 2021 but decreased significantly the following year. Larceny-theft consistently showed the highest numbers, peaking at 167 incidents in 2022. A steady rise in vandalism cases is also noteworthy, climbing to 98 cases by 2022. These trends could impact property values and insurance premiums, making it essential for potential investors, homeowners, and real estate professionals to be aware of these crime statistics.
Demographics
Vermilion County, Illinois, shows a slight gender balance with females marginally outnumbering males. Educational attainment reveals that a significant portion of the population holds a high school diploma as the highest level achieved, with lower representation in higher education degrees. The age distribution suggests a notably aging population, with a substantial group in the 55 to 64 age bracket. Racially, the county remains predominantly White, while Black or African American individuals... Read more
Race Distribution in Vermilion County, Illinois (2022)
Educational Attainment in Vermilion County, Illinois (2022)
Age Distribution in Vermilion County, Illinois
Citizen Population in Vermilion County, Illinois (2022)
Political Trends & Data
In Vermilion County, Illinois, the 2020 U.S. Presidential Election revealed a strong conservative leaning, with around 65.6% of the vote going to the Republican party while the Democratic share lagged at about 32.7%. This significant disparity hints at a robust and perhaps growing conservative presence in the area, potentially influencing everything from local policies to community... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Vermilion County, Illinois, leaned significantly toward the Republican party in the 2020 U.S. Presidential Election, with approximately 65.6% of the vote. This preference dwarfed the Democratic share, which may have hovered around 32.7%. Libertarian, Green, and other parties barely registered, collectively accounting for a small fraction of the vote. This breakdown could suggest a strong, possibly growing, conservative presence in the county.
65.62% of voters voted for the Republican party in the 2020 Presidential Election
32.68% of voters voted for the Democrat party in the 2020 Presidential Election
1.11% of voters voted for the Livertarian party in the 2020 Presidential Election
0.40% of voters voted for the Green party in the 2020 Presidential Election
0.19% of voters voted for the Other party in the 2020 Presidential Election
School Data
Vermilion County, Illinois, has seen a gradual decline in student-to-teacher ratios over the past nine years, moving from nearly fifteen students per teacher in 2014 to about twelve per teacher by 2023. This trend towards smaller class sizes could attract families who value personalized attention in education, potentially boosting local real estate demand. The county now offers a student-to-teacher ratio better than the national average of fourteen, which might be seen by appraisers and... Read more
Student-to-teacher ratio in Vermilion County, Illinois over the last 9 years
Over the past nine years, Vermilion County, Illinois, has experienced a gradual decline in student-to-teacher ratios, dropping from nearly fifteen students per teacher in 2014 to about twelve per teacher by 2023. This trend suggests a move towards smaller class sizes, which could be a draw for families prioritizing personalized attention in education. The area now consistently offers a better ratio than the national average of fourteen, a key indicator for real estate agents and potential investors highlighting education quality. Moreover, appraisers and insurance agents might interpret these changes as a sign of improving public resources, potentially affecting property values and community dynamics. For developers and those looking to build properties, understanding these shifts can provide insights into community priorities and future demands for educational facilities.
