Madison County Real Estate and Livability Trends
Madison County, New York has seen a steady rise in average taxable income per tax return, climbing from $55,338.80 in 2013 to $74,813.51 in 2021, suggesting an improving economic landscape that might attract investors and property developers. Despite this uptick in income, the average state and local income taxes per tax return have also surged from $7,109.85 in 2012 to $16,518.80 in 2021,... Read more
Madison County Market Trends
Median home values in Madison County, New York have increased from $124,900 in 2015 to $162,800 in 2022, which is slower than both state and national trends, suggesting possible investment opportunities in a more affordable market. Real estate taxes have grown significantly from $5,593.47 in 2012 to $9,297.01 in 2021, potentially indicating rising property values or tax rates, important for... Read more
Median Value of Occupied Housing Units in Madison County, New York Over the Last 8 Years
Median home values in Madison County, New York have shown a steady increase over the past eight years, progressing from $124,900 in 2015 to $162,800 in 2022. This local trend is markedly slower when compared to New York State's rise from $283,400 to $384,100 in the same period. Madison County's growth also lags behind the national median, which surged from $125,500 in 2015 to $179,400 in 2022. This data could imply more affordable investment opportunities within Madison County, offering potential for growth especially when compared to the rapidly increasing state and national markets.
Residential Energy Tax Credit Per Tax Return in Madison County, NY Over the Last 9 Years
Over the past nine years, Madison County in New York has seen significant fluctuations in the average residential energy tax credit per tax return. Particularly notable is the sharp increase to $2,912.50 in 2018 compared to a lower $443.64 in 2013. Trends suggest periodic spikes which may correlate with local policies, energy prices, or homeowner investments in energy-efficient upgrades. This volatility might impact decisions for investors, insurance agents, or real estate developers interested in the area's property and energy-retrofit markets.
Average Real Estate Taxes Per Tax Return in Madison County, NY Over the Last 10 Years
Madison County, New York, has experienced a steady increase in real estate taxes per tax return over the past decade, jumping from $5,593.47 in 2012 to $9,297.01 in 2021. This rising trend could suggest increasing property values or tax rates, likely affecting those considering investments, relocations, or property developments in the area. Local real estate agents and appraisers may see these changes reflected in market dynamics and property valuations, making it a point of interest for stakeholders. The significant hike in 2018 to $8,310.34, followed by consistent increases, could be particularly noteworthy for financial planners and insurance agents.
Percentage of Farm Returns in Madison County, NY Over the Last 10 Years
Farm tax returns in Madison County, New York have shown a slight decline over the past decade, starting from roughly 1.94% in 2012 and trending down to about 1.72% in 2021. While there were minor fluctuations during these years, the overall trend suggests a gradual decrease. This trend might indicate changing economic conditions or shifts in agricultural viability, potentially affecting decisions for those looking to invest, move to, or develop property in the area. Farm tax returns capture economic activity from farming operations, so changes in these figures could signal broader agricultural and economic trends in the region.
Number of Mortgages by Occupancy Type in Madison County, NY Over the Last 5 Years in Madison County
Madison County, New York has seen some fluctuation in mortgage counts across different occupancy types over the past five years. Principal residences dominate the market, peaking in 2021 with 2,749 mortgages but dipping in other years like 2022 with around 2,037. Investment properties are relatively stable but show minor increases, and second residences remain a small yet consistent part of the market. These shifts in occupancy type matter significantly for investors, real estate agents, and appraisers because they can impact property values, rental income potential, and market stability. Understanding these trends helps insurance agents assess risk better and developers make informed decisions about where to build or invest in property.
Economic Outlook
Madison County, New York has experienced a steady rise in average taxable income per tax return, escalating from $55,338.80 in 2013 to $74,813.51 in 2021. Enhanced economic conditions could lure investors and property developers, potentially driving up property values. However, the spike in average state and local income taxes per tax return, surging from $7,109.85 in 2012 to $16,518.80 in 2021, indicates a growing tax burden that might impact overall cost assessments for property development... Read more
Average Taxable Income per Tax Return in Madison County, NY over the last 9 years
Madison County, New York has seen a steady upward trend in average taxable income per tax return over the past nine years, fluctuating slightly but showing an overall increase from $55,338.80 in 2013 to $74,813.51 in 2021. This growth could attract prospective investors, real estate agents, and property developers who are keeping an eye on improving economic conditions and potentially rising property values. For appraisers and insurance agents, understanding these trends can inform more accurate property valuations and risk assessments. The rise in taxable income may also be a signal for those considering a move to the area, as it might reflect broader economic opportunities and stability.
Average State and Local Income Taxes Per Tax Return in Madison County, NY Over the Last 10 Years
Investors and potential movers should note the significant climb in average state and local income taxes per tax return in Madison County, New York over the past decade. From $7,109.85 in 2012, taxes have risen steeply to $16,518.80 by 2021. This trend suggests an increasing tax burden, impacting overall cost assessments for property development, valuations, and living expenses. For those looking into real estate opportunities or setting insurance rates, these spikes underscore potential shifts in fiscal policy and economic conditions in the region.
Average Total Tax Liability Per Tax Return in Madison County, NY Over the Last 10 Years
Over the past decade, Madison County, New York, has seen fluctuations in average total tax liability per tax return, with a general trend towards increasing liabilities. In 2012, the average tax liability was about $8,325.26, growing to approximately $11,598.09 by 2021. Significant jumps were observed around 2016, hitting a peak near $10,870.14. These trends might suggest an increasing economic burden on residents or rising income levels, both of which could be pivotal for investors, appraisers, and real estate agents assessing the area. Understanding these shifts can help stakeholders make more informed decisions about living, investing, or developing property in Madison County.
Cost of Living in Madison County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,193 | $1,504 | $1,373 | $2,160 | $1,491 |
| 2 adults 3 children | $1,193 | $1,229 | $1,336 | $2,160 | $1,255 |
| 1 adult 4 children | $1,193 | $1,228 | $864 | $2,160 | $1,589 |
| 1 adult 3 children | $1,193 | $1,003 | $827 | $2,160 | $1,388 |
| 2 adults 2 children | $968 | $1,006 | $1,299 | $1,882 | $1,095 |
| 1 adult 2 children | $968 | $751 | $790 | $1,882 | $1,137 |
| 2 adults 1 child | $968 | $795 | $1,263 | $979 | $988 |
| 1 adult 1 child | $968 | $513 | $753 | $979 | $845 |
| 2 adults | $783 | $639 | $905 | $0 | $720 |
| 1 adult | $699 | $348 | $453 | $0 | $598 |
Safety trends & Data
Property crime trends in Madison County, New York show dynamic changes over the past four years. Larceny-theft remains the highest-reported offense, fluctuating between 331 and 239 occurrences, while motor vehicle thefts jumped from 10 in 2019 to 27 in 2020. Burglary saw a significant rise to 54 incidents in 2022, and vandalism peaked at 124 in 2019. These patterns can aid investors in assessing risk and making informed decisions in the local property market, while insurance agents and real... Read more
Property Crime Trends in Madison County, NY Over the Last 4 Years
Property crime trends in Madison County, New York show some dynamic changes over the past four years. Larceny-theft consistently remains the highest-reported offense, with slight fluctuations between 331 and 239 occurrences. Noteworthy increases include a jump in motor vehicle thefts from 10 in 2019 to 27 in 2020. Burglary saw a significant rise to 54 incidents in 2022. Vandalism also displayed notable variance, peaking at 124 in 2019. For investors, understanding these patterns can be crucial for assessing risk and making informed decisions in the local property market. Additionally, insurance agents and real estate professionals might consider these trends when advising clients or setting rates.
Demographics
Madison County, New York exhibits a fairly balanced gender distribution with a slight majority of females. The region demonstrates a diverse age range, with significant representation across all age groups, including a notable percentage of residents aged 55 and above. Educational attainment shows that a substantial proportion of the population has completed high school, though fewer residents hold bachelor's or graduate degrees. Racially, the county is predominantly White, accompanied by... Read more
Race Distribution in Madison County, New York (2022)
Educational Attainment in Madison County, New York (2022)
Age Distribution in Madison County, New York
Citizen Population in Madison County, New York (2022)
Political Trends & Data
Madison County, New York, appears to lean Republican with about 54% of voters supporting the GOP candidate in the 2020 U.S. Presidential Election; meanwhile, around 43% backed the Democrat, indicating a politically diverse landscape. Third-party candidates, including the Libertarian and Green parties, garnered minimal... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Madison County, New York, the 2020 U.S. Presidential Election results hint at a leaning towards Republican preferences, with approximately 54% of the vote going to the Republican candidate. Meanwhile, around 43% supported the Democratic candidate, suggesting some level of political diversity. Although third-party options like the Libertarian and Green parties received votes, their shares were relatively minuscule compared to the major parties.
53.72% of voters voted for the Republican party in the 2020 Presidential Election
43.21% of voters voted for the Democrat party in the 2020 Presidential Election
1.39% of voters voted for the Livertarian party in the 2020 Presidential Election
0.54% of voters voted for the Green party in the 2020 Presidential Election
1.14% of voters voted for the Other party in the 2020 Presidential Election
School Data
Madison County, New York has seen a noteworthy decrease in its student-to-teacher ratio over the past decade, dropping from 13 students per teacher in 2014 to around 11 by 2021. This trend may enhance the appeal of the local school system, particularly for families and investors, as lower ratios can imply more personalized attention and possibly better educational outcomes. Compared to the national average of 14 students per teacher, Madison County's figures suggest a stronger educational... Read more
Student-to-teacher ratio in Madison County, New York over the last 10 years
Madison County, New York has seen its student-to-teacher ratio decrease over the past decade, moving from 13 students per teacher in 2014 to roughly 12 in recent years. Notably, in 2021, the ratio dropped to nearly 11 students per teacher. This shift is significant for prospective investors, real estate agents, and those looking to move to the area, as a lower student-to-teacher ratio is often associated with more personalized attention in educational settings, potentially enhancing the appeal of the local school system. This compares favorably to the US national average of 14 students per teacher and might suggest better educational outcomes, an attractive factor for families and those prioritizing education when deciding on a location.
