Woodford County Real Estate and Livability Trends
Woodford County, Illinois has seen a substantial boost in average taxable income, rising from $71,076.99 in 2013 to $94,775.52 in 2021, suggesting a healthier economic base that could attract real estate investors. Median home values have increased yet remain below state and national averages, potentially appealing to buyers looking for affordable options. The county's improved student-to-teacher... Read more
Woodford County Market Trends
In Woodford County, Illinois, median home values have grown from $158,200 in 2015 to $186,100 in 2022, staying below state and national averages. This could make the area attractive for those looking for more affordable homes with steady appreciation. The average residential energy tax credit per tax return saw a dramatic rise from $536.67 in 2013 to as high as $3,600.00 in 2018, hinting at... Read more
Median Value of Occupied Housing Units in Woodford County, Illinois Over the Last 8 Years
In Woodford County, Illinois, the median home value has experienced a steady increase over the past eight years, climbing from $158,200 in 2015 to $186,100 in 2022. Despite this growth, home values in Woodford County generally remain below both the state and national averages. For comparison, Illinois saw its median home value rise from $173,800 in 2015 to $239,100 in 2022, with national figures following a similar upward trend from $125,500 to $179,400 over the same period. This suggests that Woodford County could offer relatively more affordable housing options while still presenting solid appreciation for potential investors.
Residential Energy Tax Credit Per Tax Return in Woodford County, IL Over the Last 9 Years
Woodford County, Illinois shows a notable increase in the average residential energy tax credit per tax return over the last nine years, spiking dramatically from $536.67 in 2013 to as high as $3,600.00 in 2018, before stabilizing around $1,567.74 in 2021. This trend could suggest a growing investment in energy-efficient home improvements or renewable energy sources among residents. For real estate agents, appraisers, and insurance agents, these fluctuations might indicate a rising market interest in green technologies and could impact property values as well as potential insurance costs. Investors and builders might find this evolution appealing due to potential incentives and the increased demand for energy-efficient housing solutions.
Average Real Estate Taxes Per Tax Return in Woodford County, IL Over the Last 10 Years
Over the past decade, average real estate taxes per tax return in Woodford County, Illinois have generally increased. Starting at approximately $4,456.92 in 2012, they have risen to about $6,903.51 by 2021. This upward trend may be indicative of rising property values or changing tax policies, making it crucial for prospective homeowners, real estate agents, and investors to factor in these increasing costs when evaluating the area.
Percentage of Farm Returns in Woodford County, IL Over the Last 10 Years
The percentage of farm tax returns in Woodford County, Illinois has seen some minor fluctuations over the last decade, hovering around 5.00%. Interestingly, 2017 experienced a slight uptick reaching approximately 5.09%, while it dipped modestly to about 4.89% in 2021. For potential investors, property builders, and residents, these subtle shifts in farm tax returns could suggest underlying stability in agricultural activity. Farm tax returns reflect the financial health and reporting of agricultural operations, an important indicator for a region where farming might play a significant role in the local economy.
Number of Mortgages by Occupancy Type in Woodford County, IL Over the Last 5 Years in Woodford County
In Woodford County, Illinois, the last five years have seen a noticeable fluctuation in mortgage counts differentiated by occupancy type. Principal residences consistently account for the bulk of mortgages, peaking in 2020 with 2,511 mortgages, likely driven by historically low interest rates and increased demand for primary homes. Investment property mortgages have shown a slower but steady rise, suggesting growing investor confidence and potential rental market strength. Meanwhile, second residences have remained relatively stable but minimal, indicating limited demand or perhaps tighter lending criteria for these types of properties. These shifts in occupancy types are important because they can influence property values, local housing market dynamics, and insurance rates, all of which are crucial for potential investors, home buyers, and industry professionals to track.
Economic Outlook
Woodford County, Illinois has witnessed a notable rise in average taxable income per tax return, jumping from $71,076.99 in 2013 to $94,775.52 in 2021. This economic uptick hints at a growing economic base, potentially making the county a hotspot for investment and real estate development. Meanwhile, average state and local income taxes have surged significantly, from $6,648.32 in 2012 to $14,255.34 in 2021, particularly after 2017. The county's climbing total tax liabilities, hitting... Read more
Average Taxable Income per Tax Return in Woodford County, IL over the last 9 years
Woodford County, Illinois has shown a steady increase in average taxable income per tax return from $71,076.99 in 2013 to $94,775.52 in 2021. This upward trend suggests a growing economic base, making the county potentially attractive for investment, real estate development, and new residents. The notable jumps in recent years, especially from 2018 to 2021, indicate possible economic revitalization or increased earnings, which could be a compelling factor for businesses and individuals considering relocation or investments.
Average State and Local Income Taxes Per Tax Return in Woodford County, IL Over the Last 10 Years
Woodford County, Illinois has seen a significant increase in average state and local income taxes per tax return over the past decade. Starting at $6,648.32 in 2012, the figure climbed to $14,255.34 by 2021. The most notable jumps occurred post-2017, with a dramatic rise from $6,183.52 in 2017 to $11,375.78 in 2018, and continued growth thereafter. This uptick indicates a rising tax burden, which potential investors, new residents, and property developers should consider when calculating the cost of living and economic prospects in the area.
Average Total Tax Liability Per Tax Return in Woodford County, IL Over the Last 10 Years
Over the past decade, Woodford County, Illinois has seen a general upward trend in the average total tax liability per tax return, reaching a notable high of $15,618.06 in 2021. This suggests increasing average household incomes or property values, potentially making the county more attractive for investors and new residents looking for areas with economic growth. However, the rising tax liabilities may require careful planning for those considering long-term commitments in the area.
Cost of Living in Woodford County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,225 | $1,617 | $2,544 | $1,533 | $1,862 |
| 1 adult 4 children | $1,225 | $1,320 | $1,958 | $1,533 | $1,876 |
| 2 adults 3 children | $1,225 | $1,321 | $2,200 | $1,533 | $1,534 |
| 1 adult 3 children | $1,225 | $1,078 | $1,615 | $1,533 | $1,589 |
| 2 adults 2 children | $943 | $1,081 | $1,857 | $1,384 | $1,254 |
| 1 adult 2 children | $943 | $808 | $1,272 | $1,384 | $1,228 |
| 2 adults 1 child | $943 | $854 | $1,514 | $897 | $1,127 |
| 1 adult 1 child | $943 | $552 | $928 | $897 | $960 |
| 2 adults | $744 | $686 | $1,170 | $0 | $857 |
| 1 adult | $672 | $374 | $585 | $0 | $652 |
Demographics
Woodford County, Illinois shows a small but notable gender difference, with slightly more females than males. Educational attainment varies widely, though a significant proportion of adults have at least some college education or higher. With the majority of the population identifying as White, racial diversity seems limited. The age distribution suggests a balanced spread across various age groups, with a slight concentration in the ages of under 10 and those in the 55 to 64 age range. This... Read more
Race Distribution in Woodford County, Illinois (2022)
Educational Attainment in Woodford County, Illinois (2022)
Age Distribution in Woodford County, Illinois
Citizen Population in Woodford County, Illinois (2022)
Political Trends & Data
In Woodford County, Illinois, the 2020 U.S. Presidential Election reflected a notable Republican dominance, with the GOP candidate receiving about 69% of the vote, while the Democratic candidate garnered around 29%. The Libertarian and Green Party candidates each captured less than 2%, indicating smaller parties might struggle for traction in this predominantly Republican area. Such political leanings could potentially influence local policies and real estate trends, possibly favoring... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Woodford County, Illinois, the 2020 U.S. Presidential Election results seemed to show a strong preference for the Republican candidate, with roughly 69% of the vote. The Democratic candidate appeared to capture about 29%, while Libertarian and Green Party candidates each secured less than 2%. This suggests that smaller parties may struggle to compete in this county, where political alignment tends to favor Republicans by a significant margin.
69.05% of voters voted for the Republican party in the 2020 Presidential Election
28.74% of voters voted for the Democrat party in the 2020 Presidential Election
1.47% of voters voted for the Livertarian party in the 2020 Presidential Election
0.48% of voters voted for the Green party in the 2020 Presidential Election
0.26% of voters voted for the Other party in the 2020 Presidential Election
School Data
Woodford County, Illinois, has dramatically improved its student-to-teacher ratios, dropping from 72 students per teacher in 2014 to a more favorable 12 in recent years. This significant reduction could be a game-changer for real estate investors and families seeking better educational environments. With the county now outperforming the national average of 14 students per teacher, the area presents a compelling case for those prioritizing individual attention and educational quality. Such... Read more
Student-to-teacher ratio in Woodford County, Illinois over the last 9 years
Woodford County, Illinois, has seen a significant shift in its student-to-teacher ratios over the past nine years, starting from a strikingly high 72 students per teacher in 2014, down to a much more manageable 12 students per teacher in recent years. This trend of decreasing ratios can be appealing for investors and families looking to move to the area, as smaller class sizes are often associated with better educational outcomes and individual attention. Compared to the national average of 14 students per teacher, Woodford County currently offers a more favorable student-to-teacher ratio, which could be a substantial selling point for real estate agents and appraisers. Additionally, insurance agents might find this trend useful for risk assessments, while builders and developers could see increased demand for family-friendly housing.
