Franklin County Real Estate and Livability Trends
Franklin County, New York has seen median home values rise from $101,600 in 2015 to $131,600 in 2022, suggesting a steadily appreciating yet affordable market, especially when compared to broader state and national trends. Real estate taxes have notably increased from $4,261.86 in 2012 to $7,976.74 by 2020, which could impact affordability and ROI calculations. For investors, the area offers... Read more
Franklin County Market Trends
Franklin County, New York's median home values have increased from $101,600 in 2015 to $131,600 in 2022, offering a more affordable, yet steadily appreciating market compared to New York State and national trends. The average residential energy tax credit per tax return has fluctuated significantly, with a peak of $3,100.00 in 2018, highlighting potential opportunities in energy-efficient... Read more
Median Value of Occupied Housing Units in Franklin County, New York Over the Last 8 Years
Median home values in Franklin County, New York have shown consistent growth over the past eight years, rising from $101,600 in 2015 to $131,600 in 2022. This trend, while slower compared to New York State as a whole—where median values escalated from $283,400 to $384,100—indicates steady, manageable appreciation, likely making Franklin County an attractive option for first-time homebuyers or those looking for investment opportunities that promise gradual value increase. In comparison, the national median home values saw a jump from $125,500 to $179,400 within the same timeframe, positioning Franklin County as a more affordable, yet steadily appreciating market.
Residential Energy Tax Credit Per Tax Return in Franklin County, NY Over the Last 9 Years
Franklin County, New York has seen significant fluctuations in the average residential energy tax credit per tax return over the last nine years, with values ranging from $248.10 in 2013 to a peak of $3,100.00 in 2018. These variations could be indicative of shifting incentives and the adoption of energy-efficient technologies among residents. Such trends could be of interest to investors, real estate agents, and builders focusing on energy-efficient properties, as well as insurance agents and appraisers who need to account for these improvements in their evaluations. Potential residents and current homeowners might also find value in these insights to make informed decisions about energy upgrades and tax benefits.
Average Real Estate Taxes Per Tax Return in Franklin County, NY Over the Last 10 Years
Franklin County, New York has seen a steady increase in real estate taxes over the last decade, starting from $4,261.86 in 2012 and peaking at $7,976.74 by 2020. The jump between 2017 and 2018 is particularly notable, with taxes rising from $5,342.47 to $6,721.43. This trend is something for potential investors, homeowners, and real estate professionals to keep an eye on, as it might impact affordability and ROI calculations. For appraisers and insurance agents, these increasing costs could influence property valuations and insurance premiums over time.
Percentage of Farm Returns in Franklin County, NY Over the Last 10 Years
Over the last decade, Franklin County, New York has seen a relatively stable trend in the percentage of farm tax returns, hovering around 3.15% to 3.38%, with a slight decrease in recent years falling closer to 2.86% by 2021. Farm tax returns are filings specifically related to agricultural income and expenses, which can offer key insights into the local economy and land use patterns. This relatively stable percentage suggests a consistent agricultural presence, which can be attractive for potential investors and property developers looking to tap into rural or agritourism opportunities. Moreover, maintaining even this level of returns points to resilient agricultural activity, a crucial indicator for those considering moving to or investing in the region.
Number of Mortgages by Occupancy Type in Franklin County, NY Over the Last 5 Years in Franklin County
In Franklin County, New York, there's been a noticeable uptick in mortgage counts for principal residences over the last five years, peaking in 2021 at 1,134. Investment properties and second residences have seen more modest growth, with investment properties remaining relatively stable but low in number. These shifts in occupancy type can indicate growing demand for permanent housing in the area, potentially impacting property values and investment attractiveness. For appraisers, this trend signifies a robust market for primary homes, while insurance agents might see a lower risk profile for the area. Real estate agents and potential buyers will find this data revealing for making informed decisions.
Economic Outlook
Over the last decade, Franklin County, New York, has seen an upward trend in average taxable income per tax return, growing from $45,012.73 in 2013 to $59,693.02 in 2021, indicating a potentially robust economic environment. However, the area has also experienced significant fluctuations in local income taxes, from $5,750.84 in 2012 to a peak of $15,570.27 in 2021. Rising average tax liabilities, which reached $7,615.11 in 2021, suggest increased financial demands on residents. For real estate... Read more
Average Taxable Income per Tax Return in Franklin County, NY over the last 9 years
Over the last nine years, Franklin County, New York has seen a steady rise in average taxable income per tax return, climbing from approximately $45,012.73 in 2013 to about $59,693.02 in 2021. This gradual increase suggests a growing economic health in the area, which potentially makes it an attractive option for real estate investors, homebuyers, and insurance agents. For those considering constructing or investing in property, this trend indicates possible appreciating property values and a solid economic base within the county.
Average State and Local Income Taxes Per Tax Return in Franklin County, NY Over the Last 10 Years
Over the last decade, Franklin County, New York has seen significant fluctuation in average state and local income taxes per tax return. Starting at around $5,750.84 in 2012, there was a notable jump in 2015 to $7,527.78, followed by a spike to $11,100.00 in 2018 and further increases, peaking at approximately $15,570.27 in 2021. These trends could indicate changing tax policies or economic shifts impacting local revenues, making the area potentially more expensive for residents and altering the financial landscape for investors, real estate agents, and appraisers.
Average Total Tax Liability Per Tax Return in Franklin County, NY Over the Last 10 Years
Franklin County, New York has seen a noticeable rise in average tax liability per tax return over the last decade, increasing from $5,879.66 in 2012 to $7,615.11 in 2021. This trend suggests a growing financial burden on taxpayers, which could indicate a rise in income levels or changes in tax policies. The fluctuation between 2015 and 2018, with a dip in 2017 and variable figures through 2019, might reflect economic shifts or legislative adjustments. For investors, real estate agents, and other stakeholders, these numbers may hint at the economic health and fiscal policy changes impacting residents.
Cost of Living in Franklin County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,048 | $1,472 | $1,382 | $1,610 | $1,122 |
| 2 adults 3 children | $1,048 | $1,202 | $1,348 | $1,610 | $939 |
| 1 adult 4 children | $1,048 | $1,202 | $861 | $1,610 | $1,194 |
| 1 adult 3 children | $1,048 | $982 | $828 | $1,610 | $998 |
| 2 adults 2 children | $826 | $984 | $1,315 | $1,396 | $878 |
| 1 adult 2 children | $826 | $735 | $795 | $1,396 | $814 |
| 2 adults 1 child | $826 | $778 | $1,282 | $698 | $836 |
| 1 adult 1 child | $826 | $502 | $761 | $698 | $656 |
| 2 adults | $710 | $625 | $928 | $0 | $662 |
| 1 adult | $552 | $341 | $464 | $0 | $535 |
Safety trends & Data
Franklin County, New York has experienced varying property crime rates over five years, with Larceny - Theft spiking to 203 incidents in 2022 from just 11 in 2021. Burglary and Vandalism also showed fluctuations, peaking at 41 and 86 instances, respectively, while Motor Vehicle Theft stayed low, never exceeding 8 incidents annually. This volatility in property crime could influence how real estate investors, appraisers, and insurance agents assess risk and property values in the... Read more
Property Crime Trends in Franklin County, NY Over the Last 5 Years
Franklin County, New York has seen fluctuating property crime numbers over the last five years, with notable increases in certain areas. For instance, Larceny - Theft incidents spiked significantly in 2022, reaching 203 occurrences, up from a low of 11 in 2021. Burglary and Vandalism also saw some variation, with Burglary peaking at 41 and Vandalism at 86 instances in different years. Meanwhile, Motor Vehicle Theft remained relatively low, never surpassing 8 incidents annually. These trends suggest a somewhat volatile property crime landscape, which real estate investors, appraisers, and insurance agents might need to consider when evaluating risk and property values in the area.
Demographics
In Franklin County, New York, men slightly outnumber women among adults. The education level primarily consists of high school graduates, but over a quarter of the population have some college education or a degree. Age-wise, the county is diverse with a significant portion of residents in their prime working years, particularly those aged 25 to 54. Racially, the population is largely White, with American Indian and Alaska Native communities forming the largest minority group. This demography... Read more
Race Distribution in Franklin County, New York (2022)
Educational Attainment in Franklin County, New York (2022)
Age Distribution in Franklin County, New York
Citizen Population in Franklin County, New York (2022)
Political Trends & Data
Franklin County in New York exhibited a politically competitive environment in the 2020 U.S. Presidential Election, with Republicans possibly having a slight edge at about 49.8% of the vote, compared to Democrats' roughly 47.6%. Minor parties including Libertarians and Greens captured just under 2%, and 'Other' candidates around 1.3%, hinting at minimal impact from alternative options. This closely contested scenario might signal a politically diverse landscape, reflecting a balanced voter base... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Franklin County in New York seems to have shown a nearly even split in the 2020 U.S. Presidential Election, with Republicans potentially capturing a slight edge at about 49.8% of the vote and Democrats trailing closely at roughly 47.6%. Minor party candidates, including Libertarians and Greens, combined for just under 2% of the vote, reflecting a general trend towards the major parties in this area. The presence of 'Other' candidates, garnering around 1.3%, suggests that while alternative choices existed, they failed to make significant inroads. This evenly matched tug-of-war between the two main parties could indicate a politically diverse or competitive landscape in Franklin County.
49.78% of voters voted for the Republican party in the 2020 Presidential Election
47.65% 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
0.40% of voters voted for the Green party in the 2020 Presidential Election
1.28% of voters voted for the Other party in the 2020 Presidential Election
School Data
Franklin County, New York, has experienced a consistent decrease in student-to-teacher ratios, moving from 11 in 2014 to around 9 in recent years, well below the national average of 14. This trend may make the area more attractive to families seeking better educational environments, potentially boosting demand for housing. Real estate agents and investors might find this educational advantage a compelling selling point, while appraisers and insurance agents could consider these statistics when... Read more
Student-to-teacher ratio in Franklin County, New York over the last 10 years
Franklin County, New York, has seen a relatively low student-to-teacher ratio over the last decade, remaining consistently below the national average of 14 students per teacher. Notably, the ratio has decreased from 11 in 2014 to around 9 in recent years, indicating smaller class sizes. This trend could be appealing for families considering relocation, as lower student-to-teacher ratios often suggest more individualized attention and potentially better educational outcomes. For real estate agents and investors, this educational advantage could be a unique selling point. Appraisers and insurance agents might also find these statistics relevant when assessing property values and risks in the county.
