Wells County Real Estate and Livability Trends
Wells County, Indiana, has experienced notable economic growth, with average taxable income per tax return rising from around $50,571.99 in 2013 to roughly $70,211.36 in 2021. This economic momentum is echoed in the real estate market, where median home values have increased from $115,200 in 2015 to $161,300 in 2022, despite being below state and national averages. However, the nearly doubling of... Read more
Wells County Market Trends
Wells County, Indiana has witnessed a steady rise in median home values, jumping from $115,200 in 2015 to $161,300 in 2022, though still below state and national averages. The notable spikes in residential energy tax credits, especially the peak at $2,525.00 in 2018, suggest temporary surges in energy-efficient investment, which could be lucrative for real estate investors focused on sustainable... Read more
Median Value of Occupied Housing Units in Wells County, Indiana Over the Last 8 Years
Wells County, Indiana has experienced a steady increase in median home values over the past eight years, with a significant leap from $115,200 in 2015 to $161,300 in 2022. In comparison, Indiana's median home values have also been on the rise, climbing from $124,200 to $183,600 over the same period. Nationally, the trend is similar, with values increasing from $125,500 to $179,400. Although Wells County is seeing growth, its median values remain lower than the state and national averages, which might present an attractive opportunity for investors and homebuyers looking for more affordable options within a rising market.
Residential Energy Tax Credit Per Tax Return in Wells County, IN Over the Last 9 Years
Wells County, Indiana has seen dramatic fluctuations in the average residential energy tax credit per tax return over the past nine years, peaking at $2,525.00 in 2018. This significant spike may hint at a temporary surge in energy-efficient investments or available incentives during that time, intriguing for investors and consumers interested in energy savings. The recent years, though slightly lower, still suggest a relatively steady interest in sustainable home improvements, with 2021 averaging $940.00. For those in real estate, insurance, and property development, these trends suggest potential opportunities in promoting energy-efficient properties and related products.
Average Real Estate Taxes Per Tax Return in Wells County, IN Over the Last 10 Years
Wells County, Indiana, has seen a notable upward trend in real estate taxes per tax return over the last decade, nearly doubling from $1,174.09 in 2012 to $2,775.00 in 2021. This escalation could signal increasing property values or adjustments in tax rates, potentially affecting decisions for prospective homeowners, investors, and real estate professionals. The sharp jump between 2017 and 2018 is particularly striking, reinforcing the need for careful financial planning and consideration for those engaging in the local property market. This trend might influence appraisal values and insurance costs, impacting overall affordability in the region.
Percentage of Farm Returns in Wells County, IN Over the Last 10 Years
Over the last decade, Wells County, Indiana has seen a gradual but noticeable decline in the percentage of farm tax returns, dropping from approximately 4.53% in 2012 to around 3.22% in 2021. Farm tax returns, representing the amount of tax filings from agricultural businesses, provide essential insights into the economic health and activity of the farming sector. For those considering investments, relocations, or development opportunities in Wells County, this trend might indicate a shifting economic landscape, potentially driven by changes in agricultural productivity, land use, or other underlying economic factors. Understanding these dynamics is crucial for making informed decisions about future projects or investments in the area.
Number of Mortgages by Occupancy Type in Wells County, IN Over the Last 5 Years in Wells County
Wells County, Indiana has shown varying trends in mortgage activity across different occupancy types over the past five years. Principal residences dominate the market with notable increases, peaking at 2185 mortgages in 2020, before slightly decreasing. Investment property mortgages have seen modest fluctuation, generally decreasing from 65 in 2018 to 42 in 2022. Second residence mortgages remain minimal yet steady. Changes in occupancy types might matter for investment decisions, pricing strategies, and market stability analyses. A decrease in investment property mortgages could signal fewer opportunities for rental income, while the stability in second residence numbers suggests limited interest in vacation or secondary homes. Understanding these trends helps stakeholders make informed, strategic choices tailored to Wells County's unique real estate landscape.
Economic Outlook
The average taxable income per tax return in Wells County, Indiana has generally been increasing, jumping from about $50,571.99 in 2013 to approximately $70,211.36 in 2021. Alongside this, average state and local income taxes per tax return have surged from $5,603.10 in 2012 to $14,468.89 in 2021. Additionally, the average total tax liability per tax return peaked at $10,479.19 in 2021. These trends suggest a growing economic potential and income levels in the area, appealing to investors and... Read more
Average Taxable Income per Tax Return in Wells County, IN over the last 9 years
The average taxable income per tax return in Wells County, Indiana has shown a general upward trend over the last nine years. Starting at around $50,571.99 in 2013, it saw steady increases, notably jumping to $60,341.52 in 2018. Despite slight fluctuations, with a minor dip in 2019 and 2020, the figure surged to approximately $70,211.36 in 2021. This suggests a growing economic potential in the area, which could be attractive to investors, new residents, and businesses considering property development or relocation in Wells County.
Average State and Local Income Taxes Per Tax Return in Wells County, IN Over the Last 10 Years
Wells County, Indiana, has seen a notable increase in average state and local income taxes per tax return over the past decade. Starting at $5,603.10 in 2012, the amount steadily escalated, reaching $14,468.89 by 2021. This significant upward trend suggests a rising tax burden on residents, which could influence decisions for prospective investors, new residents, or property developers considering the area.
Average Total Tax Liability Per Tax Return in Wells County, IN Over the Last 10 Years
Over the last decade, Wells County, Indiana has shown a fluctuating but generally upward trend in average total tax liability per tax return, peaking significantly in 2021 at $10,479.19. This increase could hint at rising incomes or changing tax policies. Investors and prospective residents might view this as indicative of growing affluence or economic expansion in the area, though it also underscores a higher tax burden that could impact individual financial planning.
Cost of Living in Wells County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,017 | $1,243 | $1,855 | $1,222 | $1,000 |
| 1 adult 4 children | $1,017 | $1,015 | $1,418 | $1,222 | $1,071 |
| 2 adults 3 children | $1,017 | $1,015 | $1,610 | $1,222 | $825 |
| 1 adult 3 children | $1,017 | $829 | $1,173 | $1,222 | $859 |
| 2 adults 2 children | $836 | $831 | $1,364 | $1,068 | $767 |
| 1 adult 2 children | $836 | $621 | $927 | $1,068 | $700 |
| 2 adults 1 child | $836 | $657 | $1,119 | $568 | $730 |
| 1 adult 1 child | $836 | $424 | $682 | $568 | $596 |
| 2 adults | $635 | $528 | $873 | $0 | $599 |
| 1 adult | $583 | $288 | $437 | $0 | $501 |
Safety trends & Data
Wells County, Indiana's property crime trends show significant fluctuations over the past five years. Larceny-theft saw a notable decrease from 77 cases in 2018 to just 28 in 2022, while burglary incidents remained fairly stable, slightly increasing to eight cases in 2022. Vandalism has been variable, ending with 14 cases in 2022. Less common crimes like motor vehicle theft, fraud, and forgery displayed inconsistent patterns, suggesting potential sporadic spikes. The emergence of arson in 2022,... Read more
Property Crime Trends in Wells County, IN Over the Last 5 Years
Wells County, Indiana has seen fluctuating trends in property crimes over the last five years, with larceny-theft generally being the most prevalent offense, though notably decreasing from 77 cases in 2018 to 28 cases in 2022. Burglary incidents are fairly stable, with minor year-to-year increases, peaking at eight occurrences in 2022. Vandalism levels exhibit variability, ending on a higher note with 14 cases in 2022. Lesser common crimes such as motor vehicle theft, fraud, and forgery show inconsistent patterns, suggesting potential sporadic spikes rather than persistent issues. The recent addition of arson in 2022, with one reported case, hints at emerging challenges. These shifts should be a critical consideration for investors, real estate professionals, and residents, impacting both risk assessments and property valuations in the area.
Demographics
Wells County, Indiana, presents a nearly balanced gender distribution and a clear majority population of White individuals. Education-wise, a significant portion of residents are high school graduates, but about 1,273 individuals still lack a diploma. Age distribution shows a substantial number of residents over 55 years, hinting at a considerable aging population which could impact healthcare and retirement... Read more
Race Distribution in Wells County, Indiana (2022)
Educational Attainment in Wells County, Indiana (2022)
Age Distribution in Wells County, Indiana
Citizen Population in Wells County, Indiana (2022)
Political Trends & Data
Wells County, Indiana, exhibits a pronounced Republican preference, as evidenced by nearly 77% of the 2020 U.S. Presidential Election votes going to Republican candidates. This significant majority suggests a stronghold for the party, with Democrats capturing just over 20% of the vote. The substantial gap between the two parties indicates a likely conservative voting pattern in this area, reinforcing the expectation of Republican dominance in future... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Wells County, Indiana, shows a substantial lean towards the Republican party, with nearly 77% of votes cast in their favor during the 2020 U.S. Presidential Election. Democrats garnered just over 20%, indicating a significant gap between the two major parties. The remaining votes were split among Libertarians, the Green Party, and other minor parties, each barely making a noticeable impact on the overall results. These trends suggest that Wells County is a stronghold for Republican candidates, reflecting a possible pattern of conservative voting behavior in this region.
77.26% of voters voted for the Republican party in the 2020 Presidential Election
20.84% of voters voted for the Democrat party in the 2020 Presidential Election
1.86% of voters voted for the Livertarian party in the 2020 Presidential Election
0.01% of voters voted for the Green party in the 2020 Presidential Election
0.03% of voters voted for the Other party in the 2020 Presidential Election
School Data
Over the past decade, Wells County, Indiana, has seen its student-to-teacher ratio fluctuate, often exceeding the national average of 14 students per teacher. The peak in 2015, where the ratio hit approximately 18 students per teacher, indicated larger class sizes but has since decreased to around 15. This trend could hint at improvements in educational quality or shifts in enrollment, factors that might influence real estate values and community appeal. This evolving educational landscape... Read more
Student-to-teacher ratio in Wells County, Indiana over the last 10 years
Over the past decade, the student-to-teacher ratio in Wells County, Indiana, has shown some fluctuation, generally hovering above the national average of fourteen students per teacher. Notably, the ratio peaked in 2015 at around eighteen students per teacher, reflecting a period of larger class sizes. More recently, the ratio has decreased to approximately fifteen, indicating potential improvements in educational resources or shifts in school enrollment. For anyone considering investing in property or moving to Wells County, these trends might suggest evolving educational quality, which can impact real estate values and community appeal. Appraisers and real estate agents could find these changes significant when evaluating property values, while insurance agents might consider the changing demographic pressures on local schools.
