Chemung County Real Estate and Livability Trends
In Chemung County, New York, median home values have risen from $100,400 in 2015 to approximately $128,200 by 2022, making them attractively undervalued compared to New York State’s increase from $283,400 to $384,100. This presents opportunities for cost-conscious buyers and savvy investors. Additionally, residential energy tax credits per tax return surged to $2,260.00 in 2018, reflecting... Read more
Chemung County Market Trends
In Chemung County, New York, median home values rose from $100,400 in 2015 to approximately $128,200 by 2022, making it an attractive option for cost-conscious buyers compared to New York State’s rise from $283,400 to $384,100. This undervaluation could lure savvy investors. The residential energy tax credits per tax return surged, peaking at $2,260.00 in 2018, suggesting growing incentives for... Read more
Median Value of Occupied Housing Units in Chemung County, New York Over the Last 8 Years
Chemung County, New York has seen a gradual and consistent increase in median home values, rising from $100,400 in 2015 to $128,200 by 2022. Compared to New York State’s escalation from $283,400 to $384,100 during the same period, Chemung County might present an attractive opportunity for more affordable investments. Nationally, the median home value also grew significantly, from $125,500 to $179,400, but Chemung County's value remains relatively modest, potentially appealing to first-time buyers or those seeking lower entry costs. These trends could suggest undervaluation in Chemung County, making it a potential target for savvy investors or homebuilders.
Residential Energy Tax Credit Per Tax Return in Chemung County, NY Over the Last 9 Years
Chemung County, New York has seen notable fluctuations in residential energy tax credits per tax return over the past nine years. From a modest $258.57 in 2013, there was a peak in 2018 hitting an impressive $2,260.00. Though 2019 showed a decline to $747.92, the overall trend indicates growing incentives for energy-efficient improvements. This points to an evolving focus on sustainability that could interest investors, real estate agents, and builders targeting eco-friendly property developments while potentially influencing property appraisals and insurance rates.
Average Real Estate Taxes Per Tax Return in Chemung County, NY Over the Last 10 Years
Over the past decade in Chemung County, New York, real estate taxes per tax return have seen a general upward trend, with noticeable increases particularly from 2017 onwards. The average amount was around $4,724.01 in 2012, eventually peaking at approximately $7,884.56 in 2020 before a slight fallback to $7,715.87 in 2021. This suggests increasing property values or tax rates, both of which could influence investment strategies, property appraisals, insurance costs, and overall living expenses. Prospective homebuyers and real estate agents might find this trend significant when assessing the long-term cost implications of owning property in the area.
Percentage of Farm Returns in Chemung County, NY Over the Last 10 Years
Chemung County, New York has seen a slight fluctuation in the percentage of farm tax returns over the past decade, mostly hovering around 0.62% to 0.73%. Farm tax returns encompass income from farming activities, which can be a good indicator of the health and viability of agriculture in the area. This trend suggests a relatively stable, albeit small, farming community. For investors or potential residents interested in agricultural opportunities, this could imply a consistent but limited agricultural presence. Given the steady percentages, those looking to build or invest locally may see this as a signal of a stable yet niche farming market.
Number of Mortgages by Occupancy Type in Chemung County, NY Over the Last 5 Years in Chemung County
Mortgages for principal residences in Chemung County, New York, peaked at 3,207 in 2021 but saw a noticeable dip to 2,577 in 2022. Investment properties and second residence mortgages have remained relatively stable over the five years, with minor fluctuations. These shifts in occupancy types can offer critical insights to investors, signaling changes in local demand and potential returns on rental properties. For those planning to move or sell property, understanding these trends helps gauge the market's health and the potential for property appreciation. Insurance agents and appraisers might also find these patterns useful for assessing risks and property values more accurately.
Economic Outlook
Chemung County, New York, has seen a notable increase in average taxable income per tax return, climbing from $50,875.94 in 2013 to $66,363.68 in 2021. This uptick suggests economic growth, which might contribute to rising property values and make the area appealing for real estate investments. On the flip side, average state and local income taxes have also surged, reaching $16,077.59 in 2021, which could affect the overall cost of living. Finally, despite some economic progress, the poverty... Read more
Average Taxable Income per Tax Return in Chemung County, NY over the last 9 years
Chemung County, New York, has seen a steady increase in average taxable income per tax return over the past nine years, rising from $50,875.94 in 2013 to $66,363.68 in 2021. This trend might suggest a growing economic base and potentially increasing property values in the area. For those considering investment opportunities or relocating, these numbers could indicate a more prosperous community with rising disposable income. Real estate agents, appraisers, and insurance agents can also view this trend as a positive indicator for market growth and stability.
Average State and Local Income Taxes Per Tax Return in Chemung County, NY Over the Last 10 Years
Chemung County, New York has seen a significant climb in average state and local income taxes per tax return over the past decade. From approximately $6,829.16 in 2012, this figure has surged to around $16,077.59 by 2021, indicating a notable increase in the tax burden on residents. This trend may impact investment decisions, property values, and overall cost of living—a critical consideration for potential movers, real estate agents, and financial planners assessing the area’s long-term financial climate.
Average Total Tax Liability Per Tax Return in Chemung County, NY Over the Last 10 Years
Chemung County, New York has seen a notable increase in average total tax liability per tax return over the last decade, rising from approximately $7,788.24 in 2012 to about $9,817.34 in 2021. The years 2017 and 2021 witnessed significant jumps, which might indicate changes in local economic conditions or tax policies. This trend is crucial for potential investors, property builders, and real estate agents to consider, as it may influence the overall cost of living and investment returns in the region. Appraisers and insurance agents should also take note of these fluctuations when evaluating property values and risk assessments.
Cost of Living in Chemung County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,333 | $1,492 | $1,521 | $2,256 | $1,556 |
| 2 adults 3 children | $1,333 | $1,219 | $1,484 | $2,256 | $1,350 |
| 1 adult 4 children | $1,333 | $1,218 | $952 | $2,256 | $1,649 |
| 1 adult 3 children | $1,333 | $995 | $915 | $2,256 | $1,465 |
| 2 adults 2 children | $1,039 | $998 | $1,447 | $1,966 | $1,144 |
| 1 adult 2 children | $1,039 | $745 | $878 | $1,966 | $1,168 |
| 2 adults 1 child | $1,039 | $789 | $1,410 | $1,022 | $1,017 |
| 1 adult 1 child | $1,039 | $509 | $842 | $1,022 | $864 |
| 2 adults | $810 | $633 | $1,009 | $0 | $713 |
| 1 adult | $808 | $346 | $504 | $0 | $614 |
Safety trends & Data
Chemung County, New York has seen erratic property crime trends over the last four years, with larceny-theft peaking at 371.00 incidents in 2019 and burglaries spiking to 73.00 incidents in 2022. While vandalism peaked in 2019 but has been on the decline, motor vehicle thefts and arson cases have remained relatively low. Interestingly, embezzlement, forgery, and fraud displayed more unpredictable patterns, considerations that could weigh on investors and residents assessing local risk... Read more
Property Crime Trends in Chemung County, NY Over the Last 4 Years
Chemung County, New York has exhibited fluctuating trends in property crime over the last four years, with notable variations across different offense categories. Larceny-theft consistently remains the most common property crime, peaking at 371.00 incidents in 2019, while burglaries saw a significant increase in 2022 to 73.00 incidents. Vandalism also spiked in 2019, but figures have seen a gradual decline since then. Motor vehicle thefts and arson cases have stayed relatively low, but embezzlement, forgery, and fraud show more erratic patterns, which investors and residents should consider when evaluating the risk environment in the area.
Demographics
Chemung County, New York, shows a fairly balanced gender ratio among adults, with a slight female majority. The majority have at least a high school diploma, and a substantial portion have pursued higher education. The population spans all age groups, although those aged 55 to 64 years are more prevalent. The racial composition is predominantly White, with less representation from other racial... Read more
Race Distribution in Chemung County, New York (2022)
Educational Attainment in Chemung County, New York (2022)
Age Distribution in Chemung County, New York
Citizen Population in Chemung County, New York (2022)
Political Trends & Data
In Chemung County, New York, the 2020 U.S. Presidential Election saw Republicans capturing nearly 55% of the vote, whereas Democrats managed around 42%. Fringe parties like the Libertarians and Greens had a minimal impact, with approximately 1.4% and 0.3% of the vote, respectively. This polarized voter base, dominated by the two major parties, could shape future local campaign strategies and political... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Chemung County, New York, the 2020 U.S. Presidential Election results suggest a leaning towards the Republican party with about 55% of the vote. Democrats secured around 42%, while smaller parties like the Libertarians and Greens garnered minimal support at approximately 1.4% and 0.3%, respectively. The data could imply a noticeably polarized voter base with mostly marginal influence from third parties. This trend hints at a political landscape primarily dominated by the two major parties, possibly shaping future local strategies and campaign efforts.
55.20% of voters voted for the Republican party in the 2020 Presidential Election
41.89% of voters voted for the Democrat party in the 2020 Presidential Election
1.41% of voters voted for the Livertarian party in the 2020 Presidential Election
0.29% of voters voted for the Green party in the 2020 Presidential Election
1.20% of voters voted for the Other party in the 2020 Presidential Election
School Data
Chemung County, New York, has experienced fluctuating student-to-teacher ratios over the past decade, with numbers ranging from 15 students per teacher in 2014 to a low of 13 in 2019 and 2021. Currently, the ratio stands at around 14 students per teacher. This closer alignment with the national average may signal shifts in local school funding, hiring practices, or enrollment trends. For real estate agents and investors, these class size trends could be crucial, as smaller class sizes may... Read more
Student-to-teacher ratio in Chemung County, New York over the last 10 years
Chemung County, New York, has seen fluctuating student-to-teacher ratios over the past decade, with notable variation from 15 students per teacher in 2014 to a low of 13 students per teacher in 2019 and 2021. Recently, the ratio reports at around 14 students per teacher, aligning more closely with the national average of 14 students per teacher. This shift in ratios may reflect changes in local school funding, teacher hiring practices, or student enrollment trends, directly affecting class sizes and potentially the quality of education. For real estate agents and investors, class size trends can be a pivotal consideration, as smaller class sizes might attract families prioritizing education, thereby influencing local housing demands and values.
