Essex County Real Estate and Livability Trends
Essex County, New York, has witnessed a notable uptick in median home values, climbing from $145,100 in 2015 to $189,500 in 2022, surpassing national growth rates. Concurrently, real estate taxes have nearly doubled over the past decade, which may indicate increased property values or adjusted tax policies. Additionally, the county has seen a significant rise in the average residential energy tax... Read more
Essex County Market Trends
Essex County, New York, has experienced a notable uptick in median home values, climbing from $145,100 in 2015 to $189,500 in 2022, surpassing national growth rates. Alongside this, the average residential energy tax credit per tax return has seen a significant rise, suggesting increasing investments in energy efficiency among residents, which could impact property valuations. Real estate taxes... Read more
Median Value of Occupied Housing Units in Essex County, New York Over the Last 8 Years
Essex County, New York, has seen a consistent rise in the median value of occupied housing units over the last eight years, increasing from $145,100 in 2015 to $189,500 in 2022. This represents a pronounced trend compared to the national figures, which went from $125,500 to $179,400 in the same period. While the county's values are significantly lower than the statewide median, which was $383,100 in 2022, the growth rate might indicate underlying potential for investors and homebuyers looking for relatively affordable opportunities in New York state.
Residential Energy Tax Credit Per Tax Return in Essex County, NY Over the Last 9 Years
Over the past nine years, Essex County, New York has seen a notable fluctuation in the average residential energy tax credit per tax return. Starting at approximately $354.69 in 2013, the average amount rose significantly, peaking in 2018 at around $2,700. While the figures have somewhat stabilized in recent years, settling around $863.64 in 2021, this upward trajectory suggests a growing interest and investment in energy efficiency measures by residents. This trend could be indicative of increasing property valuations and could be of particular interest to investors, appraisers, and real estate agents looking to tap into the market's sustainability focus.
Average Real Estate Taxes Per Tax Return in Essex County, NY Over the Last 10 Years
Over the past decade, average real estate taxes per tax return in Essex County, New York, have nearly doubled from around $5,220.83 in 2012 to approximately $9,067.53 in 2021. A notable surge happens from 2017 to 2019, particularly between 2018 and 2019 where the average jumped from $8,001.19 to $8,891.57. This sharp increase might suggest rising property values or changes in tax policies, making it essential for potential investors, property buyers, appraisers, and insurance agents to factor these trends into financial planning and risk assessment. For real estate agents, understanding these trends is crucial for advising clients on future costs and the potential financial trajectory in Essex County.
Percentage of Farm Returns in Essex County, NY Over the Last 10 Years
Farm tax returns in Essex County, New York have shown a small yet notable fluctuation over the last decade, reflecting percentage changes from approximately 0.79% in 2012 to about 0.90% in 2021. Farm tax returns, in this context, can be considered a metric that highlights the agricultural activity and economic contributions of farms within the area. This trend is vital for potential investors, property developers, and residents because it provides insight into the county's agricultural stability and growth, influencing land value and community development prospects. The slight increase over recent years might suggest a growing agricultural sector, which may have diverse implications for local economy and lifestyle.
Number of Mortgages by Occupancy Type in Essex County, NY Over the Last 5 Years in Essex County
In Essex County, New York, mortgage trends over the past five years indicate fluctuating interest in different occupancy types. Principal residences consistently show high mortgage counts, peaking in 2021 and reflecting a stable demand for primary living spaces. In contrast, second residences and investment properties see more variable numbers, with second residences spiking in 2021 but dropping sharply by 2022, and investment properties experiencing a downward trend. This variability in occupancy type matters because it offers insights into market stability and investor confidence—important for potential investors, real estate agents, and appraisers gauging market health. Lower numbers in investment properties could suggest cautious investor sentiment, while changes in second residence mortgages may reflect shifting preferences or economic pressures.
Economic Outlook
Essex County, New York, has witnessed a consistent rise in average taxable income per tax return over the last nine years, jumping from $50,245.23 in 2013 to $70,389.41 in 2021, which could imply growing economic opportunities. Concurrently, average state and local income taxes per tax return have surged from $7,004.36 in 2012 to $16,762.69 by 2021, with notable leaps between 2017-2018 and 2019-2021. These increased tax rates could affect disposable incomes and the cost of living. Furthermore,... Read more
Average Taxable Income per Tax Return in Essex County, NY over the last 9 years
Essex County, New York, has seen a steady rise in average taxable income per tax return over the past nine years, with notable growth from $50,245.23 in 2013 to $70,389.41 in 2021. This upward trend may suggest increasing economic opportunities and a potentially thriving local economy. For those considering investment, relocation, or property development, this growth could indicate a more prosperous and financially stable community.
Average State and Local Income Taxes Per Tax Return in Essex County, NY Over the Last 10 Years
Essex County, New York has seen significant increases in average state and local income taxes per tax return over the past decade, climbing from $7,004.36 in 2012 to $16,762.69 by 2021. The most notable spikes occurred between 2017 and 2018, and again from 2019 to 2021. For those considering investments, appraisals, or moves, these rising tax rates could impact disposable income and the overall cost of living, whereas insurance agents and real estate professionals should note the potential for increased market valuations and property taxes.
Average Total Tax Liability Per Tax Return in Essex County, NY Over the Last 10 Years
Over the last ten years, Essex County, New York has experienced a noticeable increase in average total tax liability per tax return. From 2012 to 2021, the average liability rose from around $7,601.75 to approximately $10,626.00. Significant jumps are seen in 2017 and 2020, indicative of potential economic shifts or policy changes. This trend could interest investors and prospective residents looking for insight into financial obligations, while appraisors and insurance agents might find the rising tax liabilities pertinent to their assessments. For real estate professionals, understanding these liabilities can be crucial for advising clients on true cost of property ownership in Essex County.
Cost of Living in Essex County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,316 | $1,653 | $1,382 | $1,610 | $1,398 |
| 2 adults 3 children | $1,316 | $1,350 | $1,348 | $1,610 | $1,179 |
| 1 adult 4 children | $1,316 | $1,350 | $861 | $1,610 | $1,493 |
| 1 adult 3 children | $1,316 | $1,102 | $828 | $1,610 | $1,278 |
| 2 adults 2 children | $934 | $1,105 | $1,315 | $1,396 | $985 |
| 1 adult 2 children | $934 | $826 | $795 | $1,396 | $956 |
| 2 adults 1 child | $934 | $874 | $1,282 | $698 | $935 |
| 1 adult 1 child | $934 | $564 | $761 | $698 | $746 |
| 2 adults | $822 | $702 | $928 | $0 | $747 |
| 1 adult | $788 | $383 | $464 | $0 | $644 |
Safety trends & Data
Property crime trends in Essex County, New York show notable fluctuations over the past four years, with larceny-theft consistently high, hitting 70 instances in 2018. Burglary cases rose to 18 in 2022, while vandalism peaked at 70 in 2019 but later fell to 42. Fraud cases dropped dramatically from 33 in 2018 to just 5 in 2022. Motor vehicle thefts, although low, doubled to 8 in 2022. These variable trends suggest shifting risk factors, which could influence real estate investors, insurance... Read more
Property Crime Trends in Essex County, NY Over the Last 4 Years
Property crime trends in Essex County, New York over the last four years exhibit notable fluctuations. Larceny-theft appears consistently high, peaking at 70 instances in 2018 and often remaining the dominant crime. Burglary incidents saw an increase in 2020 with 17 cases, climbing to 18 in 2022. Vandalism cases witnessed significant variation, reaching 70 in 2019 before dropping to 42 in 2022. Meanwhile, fraud cases significantly decreased from 33 in 2018 to just 5 in 2022. Motor vehicle thefts stayed relatively low, although they did double from 4 in 2019 to 8 in 2022. Such variability points to changing risk factors and potentially evolving security needs in the county, highlighting essential considerations for real estate investors, insurance agents, and prospective residents.
Demographics
In Essex County, New York, males slightly outnumber females with a population of 15,851 and 14,838, respectively. The community displays a significant proportion of high school graduates and those with some college experience or an associate’s degree, but notably fewer individuals hold advanced degrees. The population skews toward older age brackets, especially those aged 55 and above. Racially, the county is predominantly White, with smaller representations of Black or African American... Read more
Race Distribution in Essex County, New York (2022)
Educational Attainment in Essex County, New York (2022)
Age Distribution in Essex County, New York
Citizen Population in Essex County, New York (2022)
Political Trends & Data
Essex County, New York, might exhibit a slightly Democratic leaning based on the 2020 U.S. Presidential Election, with roughly 51% of the vote going to Democrats and about 46% to Republicans. This competitive political environment could indicate a relatively balanced voter base, while minor parties making up over 2% of the vote hint at some third-party support, potentially influencing future local... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Essex County, New York, the 2020 U.S. Presidential Election results showed a possible slight Democratic leaning with approximately 51% of the vote. Republicans garnered around 46%, indicating a competitive political landscape. Minor parties, including Libertarian and Green, collectively captured just over 2% of the vote, suggesting limited but notable third-party engagement.
46.10% of voters voted for the Republican party in the 2020 Presidential Election
51.09% 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
0.37% of voters voted for the Green party in the 2020 Presidential Election
1.55% of voters voted for the Other party in the 2020 Presidential Election
School Data
Essex County, New York has consistently maintained a student-to-teacher ratio between 8 to 10 students per teacher, much lower than the national average of 14. This trend might indicate a higher quality of education, attracting families and boosting property desirability. For investors and real estate agents, such favorable school conditions can be a significant selling point. Lower ratios often suggest more individualized student attention and potentially better educational outcomes, making... Read more
Student-to-teacher ratio in Essex County, New York over the last 10 years
Over the last decade, Essex County, New York has consistently seen a student-to-teacher ratio well below the national average of fourteen students per teacher, with values ranging between 8 to 10 students per teacher. For prospective investors and real estate agents, these lower ratios can indicate a higher quality of education, which may attract families and increase property desirability. Appraisers and insurance agents might consider these factors when evaluating property value, as access to favorable school conditions can be a significant selling point. Lower student-to-teacher ratios often correlate with more individualized attention for students, potentially resulting in better educational outcomes, which is a strong draw for those moving to the area.
