Wabash County Real Estate and Livability Trends
In Wabash County, Illinois, the real estate market suggests some economic upswing with taxable income per return hitting $71,816.53 in 2021. However, skyrocketing local income taxes, from $5,646.27 in 2016 to $20,333.33 in 2021, indicate possible fiscal policy changes. Median home values have risen modestly from $81,100 in 2015 to $94,100 in 2022, hinting at affordability yet reflecting broader... Read more
Wabash County Market Trends
In Wabash County, Illinois, the median home values have risen modestly from $81,100 in 2015 to $94,100 in 2022, presenting a more affordable market compared to the state and national levels. Despite significant fluctuations, there's been an average stability in residential energy tax credits, with a notable spike in 2017 hitting $4000.00, potentially indicating increased energy-efficient... Read more
Median Value of Occupied Housing Units in Wabash County, Illinois Over the Last 8 Years
Median home values in Wabash County, Illinois, have seen a moderate rise from $81,100 in 2015 to $94,100 in 2022. Compared to the state of Illinois, which surged from $173,800 to $239,100 over the same period, Wabash County appears to offer more affordable housing options, reflecting potential for budget-conscious homebuyers. Meanwhile, national trends showed an increase from $125,500 to $179,400, indicating that while Wabash County's growth is in line with broader trends, it remains an economically attractive option. This relatively slower appreciation could be ideal for both investors looking for undervalued properties and newcomers seeking lower entry costs.
Residential Energy Tax Credit Per Tax Return in Wabash County, IL Over the Last 8 Years
Wabash County, Illinois has seen significant fluctuations in residential energy tax credits per tax return over the past eight years. Notably, 2017 experienced an extraordinary spike, reaching $4000.00, suggesting a potential policy change or surge in energy-efficient investments. However, the average values have generally remained between $250.00 and $1300.00, with occasional variations. These trends could impact decisions for prospective homeowners and investors, reflecting periods of enhanced incentives for energy-efficient home improvements.
Average Real Estate Taxes Per Tax Return in Wabash County, IL Over the Last 10 Years
Over the past decade, Wabash County, Illinois has seen fluctuating average real estate taxes per tax return, starting at $2,923.40 in 2012 and peaking at $4,545.45 in 2021. Notable increases occurred in 2017 and especially in 2021, indicating potential shifts in property values or tax rates. These trends may provide useful insights for prospective investors, real estate agents, and current property owners evaluating the financial landscape in Wabash County.
Percentage of Farm Returns in Wabash County, IL Over the Last 10 Years
Wabash County, Illinois has seen fluctuating trends in the percentage of farm tax returns over the past decade. Starting from about 2.79% in 2012, the highest point reached was around 3.22% in 2013. Since then, the percentages have generally hovered between roughly 2.56% to 3.06%, ending at approximately 2.51% in 2021. Farm tax returns are filings from agricultural operations that detail income, expenses, and various deductions, serving as indicators of the agricultural sector's health. Given these trends, those interested in the locale might see this data as a reflection of the farming community’s stability and the economic environment’s impact on agricultural enterprises.
Number of Mortgages by Occupancy Type in Wabash County, IL Over the Last 5 Years in Wabash County
The data indicates fluctuating mortgage counts over the years in Wabash County, Illinois, with principal residences overwhelmingly dominating the market. Notably, investment properties and second residences show minor but crucial variations. Changes in occupancy types matter because higher numbers of principal residence mortgages might reflect economic stability and long-term community commitments, essential for potential investors and real estate professionals. On the other hand, variations in investment property mortgages could signal shifts in rental demand and market speculation, impacting appraisals and insurance policies. Such trends can offer critical insights into future market conditions and development opportunities for those interested in the area.
Economic Outlook
The real estate market in Wabash County, Illinois appears to be influenced by notable economic trends. The average taxable income per tax return rose significantly in 2021 to $71,816.53, hinting at a potentially strengthening local economy, attractive for investors and new residents. However, the volatility in state and local income taxes, which spiked to $20,333.33 in 2021 after a low of $5,646.27 in 2016, and the fluctuating total tax liability, reaching $11,476.41 in 2021, suggest some... Read more
Average Taxable Income per Tax Return in Wabash County, IL over the last 9 years
The average taxable income per tax return in Wabash County, Illinois shows a general upward trend over the last nine years, with a few notable fluctuations. Particularly, 2021 saw a significant increase, reaching $71,816.53. This growth could signal a strengthening local economy, making Wabash County potentially attractive for investors and new residents. However, the dip in 2020, likely influenced by external factors, suggests that prospective stakeholders should consider economic resilience when making decisions.
Average State and Local Income Taxes Per Tax Return in Wabash County, IL Over the Last 10 Years
Wabash County, Illinois has experienced significant fluctuations in state and local income taxes per tax return over the last decade. Starting at $6,733.33 in 2012, the county saw a notable dip to $5,646.27 in 2016 before climbing sharply to $20,333.33 in 2021. This volatility underscores potential economic instability or shifting tax policies, presenting both opportunities and risks for investors and new residents. The dramatic rise in the last few years suggests increased revenue needs or changes in local fiscal strategies, critical considerations for those planning financial moves in the area.
Average Total Tax Liability Per Tax Return in Wabash County, IL Over the Last 10 Years
Over the last decade, Wabash County, Illinois has seen significant fluctuations in average total tax liability per tax return. With a notable dip to $8,020.96 in 2020, the average rebounded sharply to $11,476.41 in 2021. This volatility could signal opportunities for strategic tax planning for potential investors and current residents. Tracking these shifts can be crucial for those considering property investments or relocations, as local tax burdens impact overall financial planning. Keep an eye on such trends to make informed decisions in this dynamic fiscal landscape.
Cost of Living in Wabash County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,084 | $1,267 | $2,902 | $1,058 | $1,488 |
| 1 adult 4 children | $1,084 | $1,035 | $2,227 | $1,058 | $1,514 |
| 2 adults 3 children | $1,084 | $1,035 | $2,514 | $1,058 | $1,223 |
| 1 adult 3 children | $1,084 | $845 | $1,839 | $1,058 | $1,227 |
| 2 adults 2 children | $818 | $847 | $2,126 | $959 | $1,035 |
| 1 adult 2 children | $818 | $633 | $1,451 | $959 | $937 |
| 2 adults 1 child | $818 | $670 | $1,738 | $640 | $984 |
| 1 adult 1 child | $818 | $432 | $1,063 | $640 | $777 |
| 2 adults | $621 | $538 | $1,350 | $0 | $769 |
| 1 adult | $547 | $293 | $675 | $0 | $586 |
Demographics
Wabash County, Illinois exhibits a slightly larger female adult population compared to males. The educational attainment reveals that a significant portion achieved at least a high school diploma, with a notable share possessing associate's or bachelor's degrees. The age distribution seems balanced across most age brackets with older adults (55 and above) representing a significant chunk. The racial composition is predominantly White, with minimal representation from other racial groups,... Read more
Race Distribution in Wabash County, Illinois (2022)
Educational Attainment in Wabash County, Illinois (2022)
Age Distribution in Wabash County, Illinois
Citizen Population in Wabash County, Illinois (2022)
Political Trends & Data
Predominantly favoring Republicans, Wabash County, Illinois saw about 75.8% of votes going to the GOP in the 2020 U.S. Presidential Election, with Democrats only securing around 22.4%. Libertarians and other minor parties barely made a mark with a combined vote share under 2%. This political landscape potentially reflects a strong Republican sentiment within the local... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Wabash County, Illinois, the 2020 U.S. Presidential Election seemed to heavily favor the Republican party, which garnered around 75.8% of the votes. Democrats trailed significantly with approximately 22.4%, while Libertarians and other minor parties captured minimal shares, under 2% combined. This trend might suggest a prevailing Republican inclination among the county's electorate.
75.76% of voters voted for the Republican party in the 2020 Presidential Election
22.40% of voters voted for the Democrat party in the 2020 Presidential Election
1.39% of voters voted for the Livertarian party in the 2020 Presidential Election
0.25% of voters voted for the Green party in the 2020 Presidential Election
0.20% of voters voted for the Other party in the 2020 Presidential Election
School Data
Wabash County, Illinois, has seen its student-to-teacher ratio peak at around 17 students per teacher in 2016, but recent numbers show a decrease to about 15 students per teacher as of 2023. These fluctuations could reflect changes in local resource allocation and may impact property values and community desirability. Investors and real estate agents might view the lower ratio as a sign of improved educational support, potentially making the area more attractive to families. Appraisers and... Read more
Student-to-teacher ratio in Wabash County, Illinois over the last 9 years
Wabash County, Illinois has experienced fluctuating student-to-teacher ratios over the last nine years, peaking at around 17 students per teacher in 2016. In recent years, the ratio has decreased closer to the national average, sitting at about 15 students per teacher as of 2023. These changes might suggest varying levels of resource allocation and could impact property values and community attractiveness. For investors and real estate agents, a lower ratio can indicate better educational support, potentially making the area more desirable for families. Appraisers and insurance agents might consider these trends when assessing property risks and values, while those in the community might see shifts in local educational quality.
