Franklin County Real Estate and Livability Trends
Franklin County, North Carolina has seen median home values leap from $129,500.00 in 2015 to $209,500.00 in 2022, suggesting a thriving real estate market. Rising state and local income taxes, along with an uptick in residential energy tax credits, signal economic growth and an emphasis on energy efficiency likely appealing to green-minded buyers. There's also a noteworthy decline in farm tax... Read more
Franklin County Market Trends
Franklin County, North Carolina, has seen its median home values soar from $129,500 in 2015 to $209,500 in 2022, outpacing national trends and suggesting a vibrant local market. Average residential energy tax credits per return increased markedly, highlighting a push towards energy efficiency that could appeal to eco-conscious investors and buyers. Meanwhile, real estate taxes rose significantly,... Read more
Median Value of Occupied Housing Units in Franklin County, North Carolina Over the Last 8 Years
Franklin County, North Carolina has experienced a steady climb in median home values, escalating from $129,500 in 2015 to $209,500 in 2022. This uptick outruns the national median, which rose from $125,500 to $179,400 over the same period, indicating a more dynamic local market. Compared to the state's values, Franklin County's trajectory, though lower in absolute terms, mirrors the broader upward trend within North Carolina, where values increased from $154,900 to $234,900. Investors and potential residents may find Franklin County an attractive prospect given this robust, yet more affordable market set against state-wide figures.
Residential Energy Tax Credit Per Tax Return in Franklin County, NC Over the Last 9 Years
Over the last nine years, Franklin County, North Carolina has seen a significant increase in the average residential energy tax credit per tax return, growing from $386.44 in 2013 to $1983.87 in 2021. This trend indicates a growing emphasis on energy efficiency and renewable energy investments among homeowners, which could be appealing to investors, property developers, and real estate agents. Additionally, the rising credits might suggest an increasing availability of energy-efficient solutions in the area, potentially reducing long-term utility costs for residents.
Average Real Estate Taxes Per Tax Return in Franklin County, NC Over the Last 10 Years
Over the past decade in Franklin County, North Carolina, average real estate taxes per tax return have seen a notable upward trend, starting at around $2,017.05 in 2012 and peaking at $3,407.45 in 2020. Though there was a slight decline to $3,324.18 in 2021, these figures suggest a general increase in property taxation, possibly reflecting rising property values or changes in tax rates. This trend may be of particular interest to potential investors, real estate agents, and homeowners assessing the long-term costs of property ownership in the area.
Percentage of Farm Returns in Franklin County, NC Over the Last 10 Years
Over the last decade, the percentage of farm tax returns in Franklin County, North Carolina, showed a steady decline, dropping from approximately 1.70% in 2012 to about 1.28% in 2021. Farm tax returns measure the proportion of agricultural businesses filing taxes, often reflecting the economic health of the farming sector. This downward trend suggests a possible shift in the local economy, potentially away from agricultural dependence. For those considering investments, relocations, or development in Franklin County, studying these changes can offer insights into evolving economic opportunities and challenges within the region.
Number of Mortgages by Occupancy Type in Franklin County, NC Over the Last 5 Years in Franklin County
Over the past five years in Franklin County, North Carolina, there's been a notable trend in the number of mortgages for principal residences, which have seen a significant increase from 3,783 in 2018 to 5,770 in 2022. Meanwhile, investment property mortgages have risen comparatively more slowly, from 125 in 2018 to 297 in 2022. Mortgages for second residences have remained relatively consistent with minimal fluctuations. Shifts in occupancy type are crucial as they can signal changes in the housing market dynamics—an uptick in principal residences might suggest a growing population or more stable job market, while increases in investment property purchases could indicate rising property values or investor interest. These trends provide valuable insights for investors, real estate agents, appraisers, builders, and insurance agents, helping them gauge market conditions and make informed decisions.
Economic Outlook
Franklin County, North Carolina has seen a steady rise in average taxable income per tax return over the past nine years, jumping from $45,300.00 in 2013 to $64,739.03 in 2021. This economic growth suggests increasing property values, making the area a potential hotspot for real estate investments. State and local income taxes have also trended upward, climbing from $4,852.97 in 2012 to $7,290.21 in 2021, reflecting possible economic or policy shifts. Additionally, average total tax liability... Read more
Average Taxable Income per Tax Return in Franklin County, NC over the last 9 years
Over the past nine years, Franklin County, North Carolina has shown a gradual rise in average taxable income per tax return, from $45,300.00 in 2013 to $64,739.03 in 2021. This steady increase could indicate an upward economic trajectory and potentially growing affluence in the region, making it an attractive area for real estate investment and property development. For those involved in appraisals or insurance, this trend suggests a likely increase in property values and insurable assets. Real estate agents and prospective residents might find the consistent growth appealing as it hints at sustainable economic health and a possibly affluent, thriving community.
Average State and Local Income Taxes Per Tax Return in Franklin County, NC Over the Last 10 Years
For those considering investment or relocation in Franklin County, North Carolina, it's interesting to note the general upward trend in state and local income taxes over the last decade. From 2012's $4,852.97 to 2021's $7,290.21, there has been a clear increase with a notable jump in 2018. This could be a crucial consideration for potential movers, investors, and real estate agents evaluating the financial landscape. Such continuous growth might reflect economic or policy changes impacting the region, offering key insights for financial planning and property appraisals.
Average Total Tax Liability Per Tax Return in Franklin County, NC Over the Last 10 Years
Over the last decade, Franklin County, North Carolina has seen a fairly consistent increase in average total tax liability per tax return, with the amount rising from around $5,758.71 in 2012 to approximately $8,875.36 in 2021. This upward trend could suggest a growing economy and potentially inflationary pressures. For investors, real estate professionals, and those considering relocation, these numbers might indicate an evolving income landscape and warrant consideration for budget planning, potential investments, and property market analysis.
Cost of Living in Franklin County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,292 | $1,379 | $1,681 | $1,390 | $1,370 |
| 1 adult 4 children | $1,292 | $1,126 | $1,283 | $1,390 | $1,514 |
| 2 adults 3 children | $1,292 | $1,127 | $1,459 | $1,390 | $1,141 |
| 1 adult 3 children | $1,292 | $920 | $1,062 | $1,390 | $1,265 |
| 2 adults 2 children | $1,053 | $922 | $1,238 | $1,226 | $981 |
| 1 adult 2 children | $1,053 | $689 | $840 | $1,226 | $960 |
| 2 adults 1 child | $1,053 | $729 | $1,016 | $692 | $885 |
| 1 adult 1 child | $1,053 | $471 | $619 | $692 | $766 |
| 2 adults | $932 | $586 | $795 | $0 | $728 |
| 1 adult | $905 | $319 | $397 | $0 | $643 |
Safety trends & Data
Franklin County, North Carolina's property crime trends over the past five years could be crucial for various stakeholders. Larceny-theft has fluctuated, peaking at 135 incidents in 2019 and falling to 93 in 2022. Burglary incidents have declined from 43 in 2018 to 19 in 2022, and while fraud cases hit 38 in 2019, their pattern has been less predictable. Motor vehicle thefts and vandalism have remained relatively stable. These trends might be key for insurance agents, real estate investors, and... Read more
Property Crime Trends in Franklin County, NC Over the Last 5 Years
Franklin County, North Carolina has witnessed varying trends in property crime over the past five years. Larceny-theft has consistently been the most prevalent crime, peaking at 135 incidents in 2019 and dropping to 93 incidents in 2022. Burglary incidents have declined steadily from 43 in 2018 to 19 in 2022, while fraud cases have shown some volatility, with a notable high of 38 in 2019. Motor vehicle thefts and vandalism have largely remained stable. Insurance agents, real estate investors, and potential homeowners might find these trends pivotal for assessing risk and property values in the county.
Demographics
Franklin County, North Carolina shows a relatively balanced gender distribution with slightly more females than males. Educational attainment data suggests that while a significant portion of the population has high school diplomas or some college education, fewer individuals possess higher degrees such as Bachelor's or graduate degrees. Age distribution reveals a large proportion of residents are in their 25 to 64 years, reflecting a substantial working-age population. The racial makeup of the... Read more
Race Distribution in Franklin County, North Carolina (2022)
Educational Attainment in Franklin County, North Carolina (2022)
Age Distribution in Franklin County, North Carolina
Citizen Population in Franklin County, North Carolina (2022)
Political Trends & Data
Franklin County, North Carolina, appears to lean Republican with approximately 56% voting for the GOP in the 2020 Presidential Election. The Democrats garnered around 43%, indicating a significant presence and hinting at some political diversity. Third parties like the Libertarians and Greens captured less than 1% each. This political landscape might subtly influence aspects such as policy-making and community... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Franklin County, North Carolina, exhibited a notable Republican leaning with approximately 56% of the vote in the 2020 Presidential Election, while around 43% supported the Democratic candidate. Smaller third parties like the Libertarians and Greens captured less than 1% each. This could suggest a politically conservative trend in the area, though the meaningful Democratic minority implies a level of political diversity.
55.96% of voters voted for the Republican party in the 2020 Presidential Election
42.51% of voters voted for the Democrat party in the 2020 Presidential Election
0.89% of voters voted for the Livertarian party in the 2020 Presidential Election
0.20% of voters voted for the Green party in the 2020 Presidential Election
0.44% of voters voted for the Other party in the 2020 Presidential Election
School Data
Franklin County, North Carolina, has seen its student-to-teacher ratio fluctuate but recently settle around 15, slightly higher than the national average of 14. This decline in ratio suggests improving classroom conditions, which could enhance the area's appeal to families. Such changes may indirectly boost real estate desirability and impact local educational funding, making it a potentially attractive option for investment and... Read more
Student-to-teacher ratio in Franklin County, North Carolina over the last 10 years
Franklin County, North Carolina, has seen its student-to-teacher ratio fluctuate between fifteen and sixteen over the last decade. Notably, the ratio peaked in 2017 at 16 students per teacher and has recently trended downward, settling at approximately 15 in 2023. This pattern indicates that while class sizes have been slightly larger than the national average of 14 students per teacher, recent efforts appear to be reducing this gap. For those considering investment, relocation, or development within the county, a lower student-to-teacher ratio could imply better individual attention for students, potentially enhancing the area's appeal to families and impacting local educational funding and real estate desirability.
