Will County Real Estate and Livability Trends
In Will County, Illinois, the average taxable income has risen from $68,485.01 in 2013 to $91,425.31 in 2021, hinting at an improving local economy. Median home values surged from $209,800 in 2015 to $283,600 in 2022, potentially indicating a strong real estate market. Property crimes have soared recently, with burglary incidents jumping from 4.00 in 2020 to 45.00 in 2022, which might impact real... Read more
Will County Market Trends
Median home values in Will County, Illinois, have surged from $209,800 in 2015 to $283,600 in 2022, outpacing both state and national growth. This may point to a more robust real estate market with higher potential for property appreciation. Residential energy tax credits have fluctuated significantly, peaking over $1,500 in 2018, possibly reflecting changes in incentives or energy-efficient... Read more
Median Value of Occupied Housing Units in Will County, Illinois Over the Last 8 Years
Median home values in Will County, Illinois show a general upward trend over the past eight years, moving from $209,800 in 2015 to $283,600 in 2022. This growth outpaces both the state of Illinois, where values moved from $173,800 to $239,100 within the same period, and the national average, which increased from $125,500 to $179,400. For investors and prospective homeowners, this could suggest a more robust real estate market in Will County compared to broader regional and national trends. Additionally, this might indicate potential for higher property appreciation rates and could be a key point of consideration for those looking to build new properties or invest in existing ones in Will County.
Residential Energy Tax Credit Per Tax Return in Will County, IL Over the Last 9 Years
Residential energy tax credits in Will County, Illinois, have shown significant fluctuations over the past nine years. From a modest $259.35 in 2013, there was a notable climb to over $1,500 in 2018, before stabilizing around the $1,000 mark through 2019 to 2021. These shifts indicate potential changes in energy-efficient investments and possibly the influence of varying state or federal incentives, making it essential for potential investors, appraisers, and insurance agents to consider these factors when evaluating the long-term energy efficiency and financial benefits of properties in the area.
Average Real Estate Taxes Per Tax Return in Will County, IL Over the Last 10 Years
Over the last decade, real estate taxes per tax return in Will County, Illinois, have shown a steady increase, climbing from an average of $6,505.21 in 2012 to $8,806.24 by 2021. This typical year-over-year rise might catch the attention of potential investors or homebuyers, suggesting escalating property valuations and potentially higher assessments. For appraisers and insurance agents, these figures may indicate upward trends in property values. Real estate agents and builders could find this data useful for forecasting market conditions and advising clients about long-term financial considerations.
Percentage of Farm Returns in Will County, IL Over the Last 10 Years
Over the last 10 years, Will County, Illinois has seen a gradual decline in the percentage of farm returns, dropping from 0.31% in 2012 to 0.23% in 2021. This trend could suggest shifts in the local agricultural landscape, potentially impacting investment decisions and property developments in the area. For those considering moving to or building in the region, understanding these changes might be indicative of broader economic patterns and opportunities within the county’s farming sector.
Number of Mortgages by Occupancy Type in Will County, IL Over the Last 5 Years in Will County
In Will County, Illinois, over the last five years, there's been a marked emphasis on principal residences, with mortgage counts consistently dwarfing those of investment and second properties. Investment property mortgages have shown more volatility, suggesting fluctuating investor confidence or market conditions. A shift toward more principal residence mortgages could indicate growing stability and an attractive living environment, which might be appealing to potential homeowners, appraisers, and real estate agents. For those in property investment or construction, understanding occupancy trends could offer insights into market demands and potential opportunities.
Economic Outlook
In Will County, Illinois, the average taxable income has consistently risen from $68,485.01 in 2013 to $91,425.31 in 2021, suggesting an improving economic climate. State and local income taxes have also notably increased, particularly since 2018, climbing from $5,644.27 in 2012 to $9,167.52 in 2021, which may affect residential and investment decisions. The average total tax liability reflects a similar trend, rising from $11,195.96 in 2012 to $15,490.09 in 2021, indicating either higher... Read more
Average Taxable Income per Tax Return in Will County, IL over the last 9 years
The average taxable income per tax return in Will County, Illinois, shows a consistent upward trend over the past nine years, increasing from $68,485.01 in 2013 to $91,425.31 in 2021. This growth could indicate a steadily improving economic climate in the county, suggesting potential opportunities for investment and development. The notable increase particularly in recent years might reflect changes in the local job market, cost of living adjustments, or other economic factors worth exploring for those interested in the area's financial landscape.
Average State and Local Income Taxes Per Tax Return in Will County, IL Over the Last 10 Years
In Will County, Illinois, the average state and local income taxes per tax return have seen a significant rise over the last decade, escalating from $5,644.27 in 2012 to $9,167.52 in 2021. After some fluctuations around $5,000 to $6,000 in the mid-2010s, there's a noticeable spike starting in 2018, with taxes increasing by over $3,000 in just three years. This trend highlights the evolving fiscal landscape and could impact decisions for investors and potential residents weighing the financial implications of living or investing in the area.
Average Total Tax Liability Per Tax Return in Will County, IL Over the Last 10 Years
Over the past decade in Will County, Illinois, the average total tax liability per tax return has shown a general upward trend. Starting at $11,195.96 in 2012 and climaxing at $15,490.09 in 2021, there have been some minor fluctuations, but the overall increase could indicate a rise in either income levels, property values, or tax rates. For potential investors or residents, this suggests a growing economic base, though it could also mean higher living costs and tax burdens.
Cost of Living in Will County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,813 | $1,528 | $1,675 | $1,533 | $1,739 |
| 1 adult 4 children | $1,813 | $1,248 | $1,287 | $1,533 | $1,864 |
| 2 adults 3 children | $1,813 | $1,248 | $1,450 | $1,533 | $1,499 |
| 1 adult 3 children | $1,813 | $1,019 | $1,062 | $1,533 | $1,628 |
| 2 adults 2 children | $1,429 | $1,022 | $1,225 | $1,384 | $1,224 |
| 1 adult 2 children | $1,429 | $763 | $837 | $1,384 | $1,253 |
| 2 adults 1 child | $1,429 | $808 | $1,000 | $897 | $1,125 |
| 1 adult 1 child | $1,429 | $522 | $612 | $897 | $1,039 |
| 2 adults | $1,245 | $649 | $775 | $0 | $897 |
| 1 adult | $1,149 | $354 | $387 | $0 | $758 |
Safety trends & Data
Will County, Illinois, has experienced a concerning rise in property crimes over the past three years. Burglary cases jumped from just 4.00 incidents in 2020 to 45.00 in 2022, and larceny-theft incidents increased dramatically from 3.00 to 465.00. Fraud and vandalism also saw notable spikes, with fraud cases going from 2.00 to 106.00 and vandalism incidents increasing from 48.00 in 2021 to 190.00 in 2022. These trends could influence real estate values, insurance premiums, and community safety... Read more
Property Crime Trends in Will County, IL Over the Last 3 Years
Will County, Illinois has seen notable increases in property crimes over the last three years. From minor numbers in 2020, incidents like burglary rose from 4.00 to 45.00 in 2022, while larceny-theft numbers soared from 3.00 to a substantial 465.00. Other crimes like fraud and vandalism saw similar growth, with fraud cases increasing from 2.00 to 106.00 and vandalism incidents climbing from 48.00 in 2021 to 190.00 in 2022. These trends might impact real estate values, insurance premiums, and community initiatives focused on safety and property protection.
Demographics
Will County, Illinois, shows a balanced male and female adult population. The education levels indicate a significant portion having completed some college or higher, highlighting a fairly educated community. Age distribution reveals a considerable number of residents in the 35 to 54 year range, potentially pointing to a stable working-age population. Racial data suggests that the vast majority are White, supplemented by a mix of Black or African American, Asian, and other races, indicating... Read more
Race Distribution in Will County, Illinois (2022)
Educational Attainment in Will County, Illinois (2022)
Age Distribution in Will County, Illinois
Citizen Population in Will County, Illinois (2022)
Political Trends & Data
In Will County, Illinois, the 2020 Presidential Election showed a slight Democratic lean with around 53% of the vote. The Republican Party followed closely with about 45%, suggesting a competitive political environment. This could imply future shifts in local governance and policy decisions, reflecting a balanced, yet dynamic political... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Will County, Illinois, the 2020 U.S. Presidential Election results suggest a leaning towards the Democratic Party, capturing an estimated 53% of the vote. The Republican Party trailed with around 45%, while minor parties like Libertarian and Green collectively garnered just over 1%. This distribution may indicate a relatively competitive political landscape, with potential implications for future elections and policymaking in the county.
44.95% of voters voted for the Republican party in the 2020 Presidential Election
53.29% 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
0.47% of voters voted for the Green party in the 2020 Presidential Election
0.23% of voters voted for the Other party in the 2020 Presidential Election
School Data
In Will County, Illinois, the student-to-teacher ratio has fluctuated dramatically over the last nine years, going from 17 students per teacher in 2014 to 13 in 2023, with the lowest point at 12 in 2022. This variability could influence homebuyers and investors as lower ratios typically suggest a better learning environment, which could enhance property values and neighborhood allure. Real estate agents and developers might find this trend indicative of growth opportunities, while insurance... Read more
Student-to-teacher ratio in Will County, Illinois over the last 9 years
The student-to-teacher ratio in Will County, Illinois has fluctuated considerably over the past nine years, dropping from 17 students per teacher in 2014 to 13 in 2023. Notably, the ratio peaked at 19 in 2017 and achieved its lowest point at 12 in 2022. This variability impacts those considering moving to or investing in the area, as lower ratios generally indicate a more favorable learning environment compared to the national average of 14 students per teacher. For real estate agents and appraisers, such changes may affect property values and neighborhood desirability. Investors and developers might find opportunities tied to the perceived quality of education, while insurance agents could see shifts in claims related to demographics.
