Franklin County Real Estate and Livability Trends
In Franklin County, Massachusetts, the average taxable income per tax return reached $75,008.33 in 2021, pointing to an economically vibrant area. Notably, the median home values also saw a consistent rise from $220,800 in 2015 to $284,100 in 2022, making it a more budget-friendly investment compared to the state average of $483,900. Despite real estate taxes climbing significantly, Franklin... Read more
Franklin County Market Trends
Median home values in Franklin County, Massachusetts have risen steadily from $220,800 in 2015 to $284,100 in 2022, though still trailing behind the state average of $483,900. Interestingly, Franklin County provides a more budget-friendly investment option compared to the state and national levels. The county's average residential energy tax credit per tax return has seen considerable highs and... Read more
Median Value of Occupied Housing Units in Franklin County, Massachusetts Over the Last 8 Years
Median home values in Franklin County, Massachusetts have displayed consistent growth over the last eight years, rising from $220,800 in 2015 to $284,100 in 2022. While this trajectory indicates local strength, it's interesting to note that Franklin County's median values have typically trailed behind the state average, which hit $483,900 in 2022. On the national scale, the gap widens even more dramatically; the U.S. median value was $179,400 in 2022. This persistent appreciation in Franklin County may still offer appealing prospects for potential investors or homebuyers seeking more affordable options with steady value growth.
Residential Energy Tax Credit Per Tax Return in Franklin County, MA Over the Last 9 Years
Franklin County, Massachusetts has seen significant fluctuations in the average residential energy tax credit per tax return over the last nine years. Starting at $811.89 in 2013, the value peaked sharply at $4,629.79 in 2018 before seeing a decline to $1,957.84 by 2021. This trend likely mirrors changing investment in energy-efficient home improvements and possibly fluctuating state or federal incentives. Such data is crucial for potential investors, builders, and real estate professionals to assess the evolving landscape of energy-saving initiatives and their financial impact in the region.
Average Real Estate Taxes Per Tax Return in Franklin County, MA Over the Last 10 Years
Over the past ten years, Franklin County, Massachusetts has seen a steady and significant increase in average real estate taxes per tax return, rising from $4,271.32 in 2012 to $6,379.90 in 2021. This jump points to growing property values and possibly higher municipal budget needs, important factors for investors and potential homeowners. This trend suggests a potentially more substantial financial commitment for property owners, which might be a critical consideration for appraisers, insurance agents, and real estate professionals advising clients in the area.
Percentage of Farm Returns in Franklin County, MA Over the Last 10 Years
Over the past decade, farm tax returns in Franklin County, Massachusetts have hovered around 1.4% to 1.5% of total tax returns, with a slight peak to 1.54% in 2018 and a gradual decline to 1.31% in recent years. Farm tax returns represent the financial declarations made by farmers on their earnings and expenses, providing a snapshot of the agricultural sector's economic health. These returns are often viewed as indicators of the rural economy's stability and may influence financial decisions for those considering investing, moving, or building property in the area.
Number of Mortgages by Occupancy Type in Franklin County, MA Over the Last 5 Years in Franklin County
Over the past five years, Franklin County, Massachusetts has seen fluctuations in the number of mortgages by occupancy type. Principal residences consistently lead, showing a general uptick in mortgage counts from 2018 to 2021, peaking at 3,548 in 2021 before a slight decrease in 2022. Investment properties and second residences remain relatively minor segments, though the recent rise in investment properties can signal a shift in investor interest. Understanding these patterns is crucial for investors eyeing stable markets, real estate agents tracking demand shifts, and appraisers assessing property values. These trends might also influence insurance agents' risk calculations and developers' decisions on new projects.
Economic Outlook
Franklin County, Massachusetts, has shown a significant upward trend in average taxable income per tax return, hitting $75,008.33 in 2021. This suggests an economically vibrant area with appealing opportunities for investors and potential new residents. Contributing to this robust economic environment are the consistent increases in state and local income taxes, which more than doubled from $4,937.92 in 2012 to $9,290.31 in 2021, perhaps reflecting policy changes or economic conditions.... Read more
Average Taxable Income per Tax Return in Franklin County, MA over the last 9 years
Franklin County, Massachusetts has demonstrated a consistent increase in average taxable income per tax return over the past nine years, with a notable surge in 2021 reaching $75,008.33. This trend likely underscores various economic developments and potential opportunities in the county, making it an appealing prospect for investors, real estate agents, and those considering moving to the area. The steady rise suggests a robust economic environment, possibly spurred by local growth, employment opportunities, or an influx of higher-income residents.
Average State and Local Income Taxes Per Tax Return in Franklin County, MA Over the Last 10 Years
Franklin County, Massachusetts has seen a steady rise in state and local income taxes per tax return over the past decade. Starting at an average of $4,937.92 in 2012, the figure has consistently increased, reaching $9,290.31 by 2021. Notable jumps occurred in 2018 and 2019, indicating potential changes in tax policies or economic conditions that could be relevant for investors and residents alike. This trend suggests a growing financial contribution required from residents, which might influence decisions related to moving to or investing in property within the county.
Average Total Tax Liability Per Tax Return in Franklin County, MA Over the Last 10 Years
Over the last decade, Franklin County, Massachusetts has seen a noticeable increase in the average total tax liability per tax return. Starting at around $7,459.00 in 2012, the figure grew steadily to surpass $11,528.00 by 2021. This uptick signals potential changes in income levels, property values, or local taxation policies, which might be pivotal for investors, homebuyers, and real estate professionals aiming to understand the economic landscape. Such insights could be particularly useful for appraisors and insurance agents who rely on economic trends for accurate valuations and risk assessments.
Cost of Living in Franklin County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,586 | $1,693 | $1,765 | $2,299 | $1,948 |
| 1 adult 4 children | $1,586 | $1,383 | $1,336 | $2,299 | $2,052 |
| 2 adults 3 children | $1,586 | $1,383 | $1,538 | $2,299 | $1,677 |
| 1 adult 3 children | $1,586 | $1,129 | $1,109 | $2,299 | $1,794 |
| 2 adults 2 children | $1,280 | $1,132 | $1,311 | $2,007 | $1,355 |
| 1 adult 2 children | $1,280 | $846 | $882 | $2,007 | $1,372 |
| 2 adults 1 child | $1,280 | $895 | $1,084 | $1,059 | $1,093 |
| 1 adult 1 child | $1,280 | $578 | $655 | $1,059 | $981 |
| 2 adults | $988 | $719 | $857 | $0 | $795 |
| 1 adult | $856 | $392 | $428 | $0 | $630 |
Safety trends & Data
Franklin County, Massachusetts has experienced variable trends in property crimes over the last five years, with Larceny - Theft peaking at 114 incidents in 2020. While burglaries generally decreased, there was a slight uptick in 2022. Vandalism rates have been steady, yet frequent. Motor Vehicle Theft and Fraud have shown fluctuations but tend to be less common compared to other property crimes. These trends can help investors, real estate agents, and residents gauge the local risk... Read more
Property Crime Trends in Franklin County, MA Over the Last 5 Years
Franklin County, Massachusetts has seen fluctuating trends in property crimes over the past five years, with Larceny - Theft consistently accounting for the highest number of incidents, peaking at 114 in 2020. Burglary incidents showed a general decline until a small rise in 2022. Vandalism incidents have remained relatively steady but are among the more frequent property crimes. Motor Vehicle Theft and Fraud have also shown variability but generally remain lower in occurrence compared to other property crimes. These insights can be crucial for potential investors, real estate agents, and residents to understand the local landscape and assess risk accordingly.
Demographics
Franklin County, Massachusetts, shows a slight demographic tilt towards females in the adult population, hinting at more services geared towards women might be beneficial. The educational attainment skews heavily towards high school graduates and those with some college education, signaling a population that's moderately educated but with potential for upskilling. Age distribution reveals a significant portion of residents are between 55 and 64 years, indicating a potential need for healthcare... Read more
Race Distribution in Franklin County, Massachusetts (2022)
Educational Attainment in Franklin County, Massachusetts (2022)
Age Distribution in Franklin County, Massachusetts
Citizen Population in Franklin County, Massachusetts (2022)
Political Trends & Data
Franklin County, Massachusetts, is likely exhibiting a strong Democratic presence with nearly 70% of votes in the 2020 U.S. Presidential Election possibly leaning towards the Democrats, while the Republicans may have received around 26%. Minor parties such as the Libertarians and Greens potentially captured just over 1.6% and 0.8%, respectively. This Democratic inclination might indicate particular market dynamics and community values that could influence local policies and... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Franklin County, Massachusetts, showed significant support for the Democratic Party in the 2020 U.S. Presidential Election, with Democrats potentially securing nearly 70% of the votes. The Republican Party might have garnered around 26%, while smaller parties like the Libertarian and Green parties possibly collected just over 1.6% and 0.8%, respectively. Such voting patterns could suggest a strong Democratic leaning in the county, compared to other regions in the state.
26.05% of voters voted for the Republican party in the 2020 Presidential Election
69.83% of voters voted for the Democrat party in the 2020 Presidential Election
1.61% of voters voted for the Livertarian party in the 2020 Presidential Election
0.88% of voters voted for the Green party in the 2020 Presidential Election
1.63% of voters voted for the Other party in the 2020 Presidential Election
School Data
The student-to-teacher ratio in Franklin County, Massachusetts has dropped from about 14 students per teacher in 2014 to around 11 students per teacher in 2023, significantly below the national average of 14. This trend could suggest a more personalized educational environment, potentially increasing appeal for families looking to invest in property here. Real estate agents might see this as a strong selling point, while appraisers and insurance agents could view it as a sign of a stable,... Read more
Student-to-teacher ratio in Franklin County, Massachusetts over the last 10 years
The student-to-teacher ratio in Franklin County, Massachusetts has been on a decreasing trend over the past decade, moving from about 14 students per teacher in 2014 to approximately 11 students per teacher in 2023. This is noticeably lower than the current national average of 14 students per teacher, potentially indicating more personalized attention and smaller class sizes. For those looking to invest in property, move to the area, or for real estate agents, this trend could suggest an appealing education environment that could be a strong selling point. Appraisers and insurance agents might see this as an indicator of a stable, family-friendly community, influencing property values and insurance rates respectively. House builders might find this as an attractive aspect for marketing new housing developments, while current residents can take pride in the improving local educational conditions.
