Wayne County Real Estate and Livability Trends
Wayne County, Illinois has seen average taxable income per tax return increase from $47,198.14 in 2013 to $57,014.64 in 2021, hinting at an improving economic climate. Meanwhile, median home values surged from $77,800 in 2015 to $107,900 in 2022, outpacing broader trends and potentially signaling investment opportunities. Real estate tax hikes and rising energy tax credits imply increasing... Read more
Wayne County Market Trends
In Wayne County, Illinois, the median home values surged from $77,800 in 2015 to $107,900 in 2022, outpacing broader trends in Illinois and nationwide, which could signal unique investment opportunities. The average residential energy tax credit also saw an upward trend, peaking at $1,833.33 in 2020, indicating rising investments in energy-efficient improvements. Average real estate taxes in the... Read more
Median Value of Occupied Housing Units in Wayne County, Illinois Over the Last 8 Years
Wayne County, Illinois has experienced a notable upward trend in median home values over the past eight years, jumping from $77,800 in 2015 to $107,900 in 2022. While these numbers indicate a stronger growth rate within the county, it's crucial to compare this to the broader market. Illinois as a whole saw median home values rise from $173,800 to $239,100 in the same period, and the nation went from $125,500 to $179,400. Considering Wayne County's comparatively lower baseline, the growth rate could present unique investment opportunities for those looking to enter the housing market at a potentially lower cost. This rising trend might indicate a burgeoning local market, worth keeping an eye on for future homebuyers, developers, and investors.
Residential Energy Tax Credit Per Tax Return in Wayne County, IL Over the Last 8 Years
Wayne County, Illinois has seen a significant upward trend in the average residential energy tax credit per tax return over the past eight years, peaking at $1,833.33 in 2020. A notable dip is apparent in 2017 at $500.00, but the overall increase suggests growing investment in energy-efficient home improvements. This trend can offer valuable insights for investors and property developers aiming to tap into the demand for energy-efficient housing. Additionally, real estate agents and insurers might find this data useful for evaluating market dynamics and potential property values in the area.
Average Real Estate Taxes Per Tax Return in Wayne County, IL Over the Last 10 Years
Wayne County, Illinois has seen a significant increase in average real estate taxes per tax return over the past decade. Starting at approximately $2,365.48 in 2012, the taxes have generally trended upward, hitting a high of about $4,194.12 in 2021. The most notable jumps occurred between 2016 and 2018, where taxes saw a leap from roughly $3,150.57 to $4,090.00. This trend suggests rising real estate costs, which could impact decisions for prospective investors, developers, and homeowners considering this area. Real estate professionals and insurance agents might also find these insights valuable for appraising property values and assessing fiscal risk.
Percentage of Farm Returns in Wayne County, IL Over the Last 10 Years
The percentage of farm tax returns filed in Wayne County, Illinois over the last decade has shown slight variability. Starting at around 9.02% in 2012, there was a general increase peaking at approximately 10.54% in 2016. Since then, it has gradually declined, reaching roughly 9.47% by 2021. Farm tax returns indicate the number of local farm operations conducting significant financial activities, essential data for potential investors and individuals interested in agricultural property. This steady but fluctuating rate suggests some stability in the agricultural sector, despite minor year-to-year variations which might be useful for long-term planning and investment decisions in the area.
Number of Mortgages by Occupancy Type in Wayne County, IL Over the Last 5 Years in Wayne County
The trends for Wayne County, Illinois, reveal intriguing shifts in mortgage activity by occupancy type over the past five years. Principal Residences consistently dominate, but their numbers fluctuated, peaking in 2021. Investment Properties and Second Residences show minimal movement, suggesting limited investor and vacation home interest. Changes in occupancy type can impact property values and insurance risk evaluations, influencing decisions for investors and developers. Lower numbers of investment and second homes might mean more stability and community focus, guiding real estate agents and appraisers on market trends. These insights can also be valuable for those considering moving to the area, as they provide a snapshot of homeowner preferences.
Economic Outlook
Wayne County, Illinois has observed an increase in average taxable income per tax return over the last nine years, climbing from $47,198.14 in 2013 to $57,014.64 by 2021. This suggests an improving economic climate, which may appeal to investors and potential new residents. Meanwhile, state and local income taxes have nearly doubled from $4,512.50 in 2016 to $9,064.71 in 2021, hinting at changes in local fiscal policies or economic shifts since 2018. The average total tax liability per tax... Read more
Average Taxable Income per Tax Return in Wayne County, IL over the last 9 years
Wayne County, Illinois has seen a progressive increase in average taxable income per tax return over the last nine years, rising from $47,198.14 in 2013 to $57,014.64 by 2021. This upward trend suggests a gradually improving economic situation, potentially making the county more attractive for investors and new residents. The substantial rise in recent years, particularly the jump in 2021, may also indicate a growing economy or beneficial changes in local industry.
Average State and Local Income Taxes Per Tax Return in Wayne County, IL Over the Last 10 Years
Wayne County, Illinois has experienced notable fluctuations in average state and local income taxes per tax return over the past decade. Taxes peaked significantly in 2021 at $9,064.71, almost double the $4,512.50 noted in 2016. This sharp rise, starting from 2018 onwards, could indicate changes in local fiscal policies or shifts in economic conditions, making it essential for potential investors and residents to consider recent tax trends when planning their financial decisions and investments in the area.
Average Total Tax Liability Per Tax Return in Wayne County, IL Over the Last 10 Years
In Wayne County, Illinois, the average total tax liability per tax return has shown notable fluctuations over the past decade. What stands out is a consistent dip from 2012's $6,947.17 to 2016's low of $6,491.01. However, more recent years show a recovery, culminating in a significant rise to $7,304.84 in 2021. This uneven trend may signal varying economic conditions and policy impacts, potentially influencing decisions for investors, homebuilders, or those considering a move to the area.
Cost of Living in Wayne County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $956 | $1,343 | $2,902 | $1,058 | $1,492 |
| 1 adult 4 children | $956 | $1,097 | $2,227 | $1,058 | $1,512 |
| 2 adults 3 children | $956 | $1,097 | $2,514 | $1,058 | $1,219 |
| 1 adult 3 children | $956 | $896 | $1,839 | $1,058 | $1,215 |
| 2 adults 2 children | $774 | $898 | $2,126 | $959 | $1,056 |
| 1 adult 2 children | $774 | $671 | $1,451 | $959 | $959 |
| 2 adults 1 child | $774 | $710 | $1,738 | $640 | $999 |
| 1 adult 1 child | $774 | $459 | $1,063 | $640 | $785 |
| 2 adults | $588 | $570 | $1,350 | $0 | $781 |
| 1 adult | $531 | $311 | $675 | $0 | $596 |
Demographics
Wayne County, Illinois, presents a balanced gender split among its adult population, with a slightly higher number of females compared to males. The educational attainment data indicates a substantial segment of high school graduates, while college-level and advanced degrees are considerably less common. The age distribution suggests a noticeable presence of older adults and a consistent representation across younger age groups, hinting at a potentially aging population. The racial composition... Read more
Race Distribution in Wayne County, Illinois (2022)
Educational Attainment in Wayne County, Illinois (2022)
Age Distribution in Wayne County, Illinois
Citizen Population in Wayne County, Illinois (2022)
Political Trends & Data
In Wayne County, Illinois, the overwhelming support for the Republican Party in the 2020 U.S. Presidential Election, capturing nearly 85% of the vote, might indicate a deeply rooted conservative base. This political landscape could potentially impact local policies and influence the appeal of the area for residents with similar political leanings, subtly shaping the county's development and investment... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Wayne County, Illinois, the 2020 U.S. Presidential Election leaned heavily towards the Republican Party, which garnered nearly 85% of the vote. Democrats followed at a distant 14%, with Libertarian and Green parties receiving just over 1% and less than 0.5% respectively. This strong preference for Republicans could suggest a significant conservative base in the area, potentially influencing local and state-level policies and electoral strategies.
84.56% of voters voted for the Republican party in the 2020 Presidential Election
13.99% of voters voted for the Democrat party in the 2020 Presidential Election
1.06% of voters voted for the Livertarian party in the 2020 Presidential Election
0.27% of voters voted for the Green party in the 2020 Presidential Election
0.12% of voters voted for the Other party in the 2020 Presidential Election
School Data
The student-to-teacher ratio in Wayne County, Illinois has declined from 16 in 2014 to about 12 recently, suggesting that students may receive more personalized attention compared to the national average of 14. This trend might indicate a strong local education system, making the area potentially more attractive to families and possibly contributing to higher property values. For investors, appraisers, and real estate agents, this could be a useful factor in gauging the area's appeal and market... Read more
Student-to-teacher ratio in Wayne County, Illinois over the last 9 years
The student-to-teacher ratio in Wayne County, Illinois has generally declined over the last nine years, moving from 16 in 2014 to almost 12 in recent years. This decreasing trend suggests that students may be experiencing more personalized attention compared to the national average of 14 students per teacher. For investors, appraisers, and real estate agents, this could be a valuable indicator of a strong local education system, potentially making the area more attractive to families and contributing to higher property values. Insurance agents might also factor this improved educational environment when assessing risk and property value trends in the area.
