Franklin Parish Real Estate and Livability Trends
Franklin Parish, Louisiana has seen home values rise significantly, with a 13% increase from $87,500 in 2021 to $99,200 in 2022. Despite this growth, median home values remain below state and national levels, potentially offering a unique investment opportunity. Real estate taxes have surged from $823.53 in 2012 to $2,272.73 in 2021, suggesting increasing property values or tax rates. With... Read more
Franklin Parish Market Trends
Home values in Franklin Parish, Louisiana have shown steady growth, with a notable 13% spike from $87,500 in 2021 to $99,200 in 2022. Despite this rise, median home values here remain much lower than both state and national medians, potentially offering a unique investment opportunity. Fluctuating residential energy tax credits, peaking at $850.00 in 2021, indicate variable trends in energy... Read more
Median Value of Occupied Housing Units in Franklin Parish, Louisiana Over the Last 8 Years
Home values in Franklin Parish, Louisiana have experienced consistent growth over the last 8 years, with a significant spike from $87,500 in 2021 to $99,200 in 2022. This 13% jump may suggest rising demand or limited supply. Despite this increase, Franklin Parish’s median home value remains considerably lower than both the state median of $198,300 and the national median of $179,400 in 2022. For potential investors or homebuyers, the lower entry cost in Franklin Parish could present a unique opportunity compared to broader markets.
Residential Energy Tax Credit Per Tax Return in Franklin Parish, LA Over the Last 8 Years
Franklin Parish, Louisiana, has seen fluctuations in the average residential energy tax credit claimed per tax return over the past eight years. Notably, 2021 registered the highest at $850.00, while the lowest was observed in 2020 at $266.67. This variance suggests that investment in residential energy improvements and the claiming of associated credits can be inconsistent, potentially influenced by economic factors or changes in state or federal incentives. For potential investors, appraisers, insurance agents, and real estate professionals, this could mean variable energy efficiency trends affecting long-term property value evaluations and cost assessments.
Average Real Estate Taxes Per Tax Return in Franklin Parish, LA Over the Last 10 Years
Over the past decade, Franklin Parish, Louisiana has seen a notable increase in average real estate taxes per tax return. Starting at $823.53 in 2012, there was a steady rise peaking at $2,272.73 in 2021. This trend suggests increasing property values or tax rates, making it important for potential investors, homebuyers, and real estate professionals to consider these escalating tax obligations for financial planning.
Percentage of Farm Returns in Franklin Parish, LA Over the Last 10 Years
Over the last decade, the percentage of farm tax returns in Franklin Parish, Louisiana has shown a subtle downward trend, moving from around 9.5% in 2012 to roughly 8.1% in 2021. Farm tax returns, filed by individuals or entities earning income from farming activities, offer insights into the agricultural sector's economic health. For those looking to invest or build property in Franklin Parish, these numbers suggest that while agriculture remains significant, its contribution to the local economic makeup may be experiencing slight shifts. This could potentially create opportunities to diversify investments or develop services that support a transitioning economy.
Number of Mortgages by Occupancy Type in Franklin Parish, LA Over the Last 5 Years in Franklin Parish
Franklin Parish, Louisiana, has seen fluctuating mortgage counts for different occupancy types over the last five years. Principal residences dominate, with a noticeable increase from 289 in 2018 to 437 in 2022, peaking at 590 in 2021. Investment properties and second residences have remained relatively low, though investment properties saw a slight uptick from 5 to 17 between 2018 and 2022. The changes in occupancy types can influence market dynamics, impact insurance risk assessments, and inform the strategy for real estate professionals focusing on residential properties. Investors and builders might find opportunity in the rising demand for principal residences, while the limited activity in investment and second homes suggests a potential niche market.
Economic Outlook
The average taxable income per tax return in Franklin Parish, Louisiana, has shown both growth and variability over the past nine years, starting at $39,313.70 in 2013 and peaking at $44,629.10 in 2021. State and local income taxes per tax return also saw notable fluctuations, with a significant rise to $6,152.17 in 2021 from a dip to $3,422.69 in 2016. The total tax liability per tax return has hovered in the mid-$6,000s after peaking at $7,037.87 in 2014. These trends suggest a dynamic... Read more
Average Taxable Income per Tax Return in Franklin Parish, LA over the last 9 years
The average taxable income per tax return in Franklin Parish, Louisiana has fluctuated over the past nine years, showing some variability but a general trend towards growth. Starting at $39,313.70 in 2013, the income peaked at $44,629.10 in 2021. There were noticeable dips in certain years, such as in 2017 when the average dropped to $37,455.42. This pattern of ups and downs could suggest periodic economic challenges balanced by recoveries or improvements, which might be essential for investors and real estate agents to consider when evaluating the economic stability of the area.
Average State and Local Income Taxes Per Tax Return in Franklin Parish, LA Over the Last 10 Years
Franklin Parish, Louisiana has seen notable fluctuations in state and local income taxes per tax return over the past decade. Initially, taxes hovered around $3,800.00 in 2012 and showed a dip in subsequent years with values as low as $3,422.69 in 2016. However, a significant upward trend emerged post-2017, peaking at $6,152.17 in 2021. This trend could suggest economic changes or policy shifts affecting taxpayers, and for potential investors or new residents, it highlights a rise in the overall tax burden in recent years.
Average Total Tax Liability Per Tax Return in Franklin Parish, LA Over the Last 10 Years
Over the past decade, Franklin Parish in Louisiana has seen fluctuations in the average total tax liability per tax return, with amounts typically ranging from $6,070.15 to $7,037.87. While 2014 marked a notable peak at $7,037.87, the following years generally saw a decline, stabilizing around the mid-$6,000s. This trend is relevant for potential investors, real estate agents, and insurance agents as it offers insights into the financial landscape, helping gauge the overall economic health and tax burden in Franklin Parish. These figures could indicate variability in local economic conditions and might influence decisions on property investments and appraisals.
Cost of Living in Franklin Parish
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $946 | $1,367 | $2,335 | $1,043 | $1,138 |
| 1 adult 4 children | $946 | $1,117 | $1,790 | $1,043 | $1,227 |
| 2 adults 3 children | $946 | $1,117 | $2,024 | $1,043 | $882 |
| 1 adult 3 children | $946 | $912 | $1,479 | $1,043 | $960 |
| 2 adults 2 children | $740 | $914 | $1,713 | $911 | $781 |
| 1 adult 2 children | $740 | $683 | $1,168 | $911 | $716 |
| 2 adults 1 child | $740 | $723 | $1,402 | $484 | $722 |
| 1 adult 1 child | $740 | $467 | $856 | $484 | $589 |
| 2 adults | $633 | $581 | $1,090 | $0 | $624 |
| 1 adult | $629 | $317 | $545 | $0 | $534 |
Safety trends & Data
Property crime in Franklin Parish, Louisiana, has seen notable fluctuations over the last five years, with burglary and larceny-theft peaking in 2019 at 37 and 112 instances, respectively, but significantly dropping to 6 and 16 by 2022. Fraud and forgery have remained relatively low, while arson appeared minimally in 2020. This trend towards decreasing property crime could reflect improved safety measures and law enforcement presence, potentially boosting property values and lowering insurance... Read more
Property Crime Trends in Franklin Parish, LA Over the Last 5 Years
Property crime in Franklin Parish, Louisiana appears to have fluctuated over the last five years, with notable spikes in burglary and larceny-theft in 2019 reaching values of 37 and 112 respectively. However, these categories saw a significant decline by 2022, with instances dropping to 6 and 16. Interestingly, crimes like fraud and forgery showed modest changes, staying relatively low throughout the period. Arson emerged in 2020 but remained minimal. This data matters for real estate agents, investors, and insurance agents as it highlights a general trend toward decreasing property crime, possibly indicating improved safety measures and law enforcement presence, which could positively impact property values and insurance premiums.
Demographics
Franklin Parish, Louisiana's adult population skews slightly female, with educational attainment largely centering on high school graduates and some college-educated individuals. Age distribution seems to indicate a consistent spread across different age groups, leaning towards a higher proportion of residents under 10 and those aged 55 to 64. Racial demographics are predominantly White and Black or African American, with very minimal representation from other racial groups. These trends could... Read more
Race Distribution in Franklin Parish, Louisiana (2022)
Educational Attainment in Franklin Parish, Louisiana (2022)
Age Distribution in Franklin Parish, Louisiana
Citizen Population in Franklin Parish, Louisiana (2022)
Political Trends & Data
In Franklin County, Louisiana, the 2020 U.S. Presidential Election results suggest a strong Republican leaning with about 72% of the vote. Democratic support stood at roughly 27%, indicating a smaller but notable base. Minor parties had minimal impact, possibly reflecting the broader political landscape in rural Louisiana favoring Republican... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Franklin County, Louisiana, the 2020 U.S. Presidential Election results might indicate a significant Republican leaning, with approximately 72% of the vote going to the Republican candidate. The Democratic candidate garnered around 27%, suggesting a relatively small but notable base of support. Minor parties such as the Libertarians and others possibly played a negligible role with their combined total barely exceeding 1%. This trend could be seen as reflective of the broader political landscape in rural parts of Louisiana, where Republican preferences often predominate.
71.71% of voters voted for the Republican party in the 2020 Presidential Election
27.35% of voters voted for the Democrat party in the 2020 Presidential Election
0.46% of voters voted for the Livertarian party in the 2020 Presidential Election
0.48% of voters voted for the Other party in the 2020 Presidential Election
School Data
In Franklin Parish, Louisiana, the student-to-teacher ratio has ranged from eleven in 2017 to sixteen in 2018. More recently, it hovers around fifteen, slightly above the national average of fourteen. This information is crucial for potential investors, families, and real estate professionals as it speaks to the local education quality—a vital component influencing property values and community desirability. For insurance agents and property developers, these metrics offer insights into risk... Read more
Student-to-teacher ratio in Franklin Parish, Louisiana over the last 9 years
Over the past nine years, the student-to-teacher ratio in Franklin Parish, Louisiana has shown fluctuations, ranging from a low of eleven in 2017 to a high of sixteen in 2018. While recent years have brought the ratio close to fifteen, comparing this to the national average of fourteen indicates slightly larger class sizes which could impact individual student attention and education quality. These ratios are important for potential investors, families considering relocation, real estate agents, and appraisers as they reflect on local education standards—a key factor that influences property values and community desirability. For insurance agents and property developers, understanding these metrics could help in assessing risk and growth opportunities tied to educational facilities and community infrastructure.
