Benton County Real Estate and Livability Trends
Benton County, Indiana's real estate market has outpaced its own historical values, with median home prices climbing from $83,800 in 2015 to $122,600 in 2022, although this remains below the state average of $183,600. Homeownership stability is evidenced by a rise in principal residence mortgages, signaling potential population growth. Meanwhile, real estate taxes have surged from $1,098.36 in... Read more
Benton County Market Trends
Benton County, Indiana has seen its median home values rise from $83,800 in 2015 to $122,600 in 2022, still trailing the state average of $183,600. Despite this lag, the consistent growth trend offers promising equity for first-time buyers and seasoned investors. Residential energy tax credits have fluctuated, peaking at $550.00 in 2020, which may indicate local investment in energy efficiency.... Read more
Median Value of Occupied Housing Units in Benton County, Indiana Over the Last 8 Years
Benton County, Indiana's housing market has seen substantial growth over the past eight years, with median home values increasing from $83,800 in 2015 to $122,600 in 2022. While Benton County's values have clearly risen, they still trail behind the state average, which surged to $183,600 in 2022. Nationally, the trend is similar, with a peak at $179,400. Those looking to invest in or move to Benton County may find the increasing values promising for future equity, albeit the area remains more affordable compared to broader benchmarks. This more affordable entry point paired with a consistent upward trajectory could make Benton County an appealing option for both first-time buyers and seasoned investors.
Residential Energy Tax Credit Per Tax Return in Benton County, IN Over the Last 8 Years
Average residential energy tax credits in Benton County, Indiana have shown notable fluctuations over the last eight years, peaking at $550.00 in 2020 and reaching a low of $225.00 in 2014. There was a significant increase in 2015 to $409.09, suggesting a potential surge in home energy-efficient upgrades or policy changes. This variability might suggest a responsive local market or regional policy shifts influencing investment in energy efficiency. For investors or real estate agents, understanding these trends can highlight periods of increased investment in home upgrades, while insurance agents and appraisers might want to consider the potential for enhanced energy-efficient properties impacting valuation metrics.
Average Real Estate Taxes Per Tax Return in Benton County, IN Over the Last 10 Years
Benton County, Indiana has experienced fluctuating but overall increasing real estate taxes over the past decade. Between 2012 and 2021, taxes per tax return have risen from approximately $1,098.36 to about $1,700. Notable jumps, such as the significant rise from $1,116.33 in 2017 to $1,350.00 in 2018, highlight potential factors like rising property values or changes in tax policy. This trend could influence investment decisions, affect moving considerations, and impact appraisals and insurance assessments, underscoring the need for stakeholders to monitor these changes closely.
Percentage of Farm Returns in Benton County, IN Over the Last 10 Years
Over the last decade, the percentage of farm tax returns in Benton County, Indiana, hovered around 7%, with minor fluctuations. Notably, the peak occurred in 2012 at 7.73%, while the lowest point was in 2015 at 6.57%. This data implies that while farming remains a consistent activity in the area, there's a slight downward trend. For potential investors, homebuilders, or those considering a move to Benton County, these figures suggest that while agriculture is prominent, it might be marginally declining, which could impact local economic conditions and land use.
Number of Mortgages by Occupancy Type in Benton County, IN Over the Last 5 Years in Benton County
Benton County, Indiana has seen notable shifts in mortgage types over the past 5 years, particularly with a significant rise in principal residence mortgages, from 293 in 2018 to over 500 in 2021. This trend could suggest growing stability and population in the area, potentially making it more attractive to both homebuyers and investors. Interestingly, investment property mortgages have fluctuated without a clear upward or downward trajectory, indicating variable investor confidence or market conditions. This dynamic landscape is crucial for investors, real estate agents, appraisers, and insurance agents to monitor, as changes in occupancy type can influence property values, insurance requirements, and development opportunities in the county.
Economic Outlook
Average taxable income in Benton County, Indiana, has generally increased from around $46,645 in 2013 to roughly $56,505 in 2021, signaling gradual economic growth that might appeal to investors and new residents. State and local income taxes have seen fluctuations, peaking in 2013 at $6,728.99 and rising above $7,000.00 since 2019, reflecting economic variability. The total tax liability per return also experienced ups and downs, peaking at $7,767.35 in 2013 and $7,472.64 in 2021, indicating... Read more
Average Taxable Income per Tax Return in Benton County, IN over the last 9 years
The average taxable income per tax return in Benton County, Indiana has shown a general upward trend over the past nine years, moving from approximately $46,645 in 2013 to about $56,505 in 2021. This suggests gradual economic growth that could be attractive to potential investors and those considering moving to the area. The noticeable increase from 2018 onwards, with averages remaining over $50,000, highlights a period of improved income levels which may indicate enhanced economic conditions or job opportunities within the county.
Average State and Local Income Taxes Per Tax Return in Benton County, IN Over the Last 10 Years
In Benton County, Indiana, over the past decade, state and local income taxes per tax return exhibited noticeable fluctuations. Starting at $5,849.30 in 2012, there was a significant increase to $6,728.99 in 2013, followed by a dip to $5,700.00 in 2015, and a low of $5,478.33 in 2016. The taxes then rose sharply to $7,780.00 in 2019 and have remained above $7,000.00 since. These shifts can signal economic patterns, potentially useful for prospective residents or investors assessing tax commitments and economic stability in the area.
Average Total Tax Liability Per Tax Return in Benton County, IN Over the Last 10 Years
Over the past decade, Benton County, Indiana, has shown fluctuations in average total tax liability per tax return, with notable peaks in 2013 at $7,767.35 and 2021 at $7,472.64. While there's a dip in values during 2015 through 2020, generally hovering around $6,500, recent trends suggest a potential uptick. For investors and potential residents, this variable landscape provides insights into economic shifts that could impact future financial considerations and property investments in the area.
Cost of Living in Benton County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,093 | $1,387 | $1,798 | $1,621 | $1,213 |
| 1 adult 4 children | $1,093 | $1,133 | $1,382 | $1,621 | $1,322 |
| 2 adults 3 children | $1,093 | $1,133 | $1,556 | $1,621 | $1,011 |
| 1 adult 3 children | $1,093 | $925 | $1,141 | $1,621 | $1,094 |
| 2 adults 2 children | $885 | $928 | $1,314 | $1,426 | $892 |
| 1 adult 2 children | $885 | $693 | $899 | $1,426 | $865 |
| 2 adults 1 child | $885 | $733 | $1,073 | $794 | $814 |
| 1 adult 1 child | $885 | $474 | $657 | $794 | $675 |
| 2 adults | $757 | $589 | $831 | $0 | $645 |
| 1 adult | $656 | $321 | $415 | $0 | $525 |
Demographics
Benton County, Indiana shows a fairly balanced gender distribution among adults, with males and females almost equally represented. Educational attainment predominantly stops at the high school level for many residents, though a significant portion holds some college experience or higher degrees. The age spread indicates a substantial older population, particularly those between 55 and 64 years old. Racially, Benton County remains overwhelmingly White, with minimal representation from other... Read more
Race Distribution in Benton County, Indiana (2022)
Educational Attainment in Benton County, Indiana (2022)
Age Distribution in Benton County, Indiana
Citizen Population in Benton County, Indiana (2022)
Political Trends & Data
Benton County, Indiana shows a strong conservative inclination, with the Republican candidate seemingly capturing about 73% of the vote. Democrats might only hold 24.5%, reflecting a more limited yet significant presence. Minor parties appear to accumulate less than 3%, underscoring the stronghold of the two-party system and possibly indicating a community with predominantly traditional... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Benton County, Indiana, the Republican candidate appears to have garnered a substantial lead with approximately 73% of the vote, potentially indicating a strong conservative presence. Democrats, on the other hand, might have secured around 24.5%, which may suggest limited but notable support. Libertarians and other minor parties seem to make up less than 3% of the total, possibly reflecting the prevailing two-party system's dominance in the region. This kind of voting pattern could suggest a community with predominantly traditional values.
73.09% of voters voted for the Republican party in the 2020 Presidential Election
24.53% of voters voted for the Democrat party in the 2020 Presidential Election
2.24% of voters voted for the Livertarian party in the 2020 Presidential Election
0.02% 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
Benton County, Indiana, has seen its student-to-teacher ratio drop from about 14 in 2014 to just under 13 recently, pointing towards a potential improvement in education quality. This shift might be appealing to families and investors, as a lower ratio often signals a robust public school system and improved property values. For appraisers, the trend could lead to higher home appraisals, while insurance agents might see it as a sign of lower risk profiles. Compared to the national average of 14... Read more
Student-to-teacher ratio in Benton County, Indiana over the last 10 years
Over the past decade, Benton County, Indiana, has seen a decline in the student-to-teacher ratio, dropping from around 14 students per teacher in 2014 to just under 13 in recent years. This trend suggests an improvement in classroom attention and potentially higher quality of education, which could be a strong selling point for families considering a move. Investors and real estate agents might find this trend appealing, as lower ratios can be an indicator of robust public school systems, thus enhancing property values. For appraisers and insurance agents, these improvements might translate to higher home appraisals and potentially lower risk profiles. Additionally, those involved in education planning or policy-making can glean insights into resource allocation efficiency within the county. Especially when compared to the national average of 14 students per teacher, Benton County’s current ratios suggest a more personalized education environment.
