Franklin County Real Estate and Livability Trends
In Franklin County, Ohio, there’s significant economic growth reflected in a 47% jump in the average taxable income per tax return from $56,670.54 in 2013 to $83,616.09 in 2021. The housing market has similarly surged, with median home values rising from $150,600 in 2015 to $243,100 in 2022, suggesting solid investment potential. Meanwhile, rising property taxes, from $4,585.40 in 2012 to... Read more
Franklin County Market Trends
Franklin County, Ohio’s housing market has outpaced state and national trends, with median home values increasing from $150,600 in 2015 to $243,100 in 2022. This rapid appreciation hints at strong investment potential. There's also a notable boost in energy-efficient home improvements, peaking sharply in 2018 with an average tax credit of $1615.70. Rising real estate taxes, from $4,585.40 in... Read more
Median Value of Occupied Housing Units in Franklin County, Ohio Over the Last 8 Years
Franklin County, Ohio's housing market has experienced a significant rise in median home values over the last eight years, growing from $150,600 in 2015 to $243,100 in 2022. This trend outpaces both the state of Ohio, which saw values increase from $129,900 to $183,300 in the same period, and the national median, which moved from $125,500 to $179,400. For those looking to invest or move here, Franklin County may present more substantial appreciation potential compared to broader state and national markets.
Residential Energy Tax Credit Per Tax Return in Franklin County, OH Over the Last 9 Years
Franklin County, Ohio has seen a significant increase in the average residential energy tax credit per tax return over the past nine years. This trend suggests growing homeowner investments in energy-efficient home improvements. Notably, the average credit peaked sharply in 2018 at $1615.70. This may indicate heightened activity in energy savings renovations or policy changes promoting such investments. This trend can be a valuable indicator for real estate agents and appraisers, signaling a shift towards energy efficiency that could influence property values and attractiveness. Investors and/or builders focusing on sustainable development might find this data supportive of potential returns. Additionally, insurance agents might view this trend as indicative of reduced risk properties due to enhanced energy efficiencies.
Average Real Estate Taxes Per Tax Return in Franklin County, OH Over the Last 10 Years
Franklin County, Ohio has experienced a notable increase in real estate taxes per tax return over the past decade. From $4,585.40 in 2012 to $7,857.28 in 2021, these rising figures may indicate escalating property values or increased local government spending. This trend could be significant for potential investors, homebuyers, and real estate professionals who need to account for higher carrying costs. Appraisers and insurance agents might also find the steady rise relevant as it may affect property valuations and insurance premiums. Understanding this trend is crucial for anyone involved in the property market in this region.
Percentage of Farm Returns in Franklin County, OH Over the Last 10 Years
In the past decade, the percentage of farm tax returns in Franklin County, Ohio has shown a general decline, dropping from approximately 0.14% in 2012 to around 0.10% in 2021. These figures might suggest a reduced agricultural presence or shifts in land use and economic focus within the county. For potential investors or property developers, this trend could indicate a growing urbanization and diversification in the local economy, possibly opening up other business opportunities. For residents and those considering moving to the area, understanding these shifts could be beneficial for long-term planning and investment decisions.
Number of Mortgages by Occupancy Type in Franklin County, OH Over the Last 5 Years in Franklin County
In Franklin County, Ohio, over the past five years, the number of mortgages for principal residences has typically dominated, with significant fluctuations, particularly in the housing market's recent years. Notably, 2021 saw an unprecedented surge for principal residences, nearly doubling from 2022. Investment properties saw a peak in 2021 but have since receded, suggesting market volatility or shifts in investor behavior. Second residences have remained relatively stable but consistently lower than other types. These trends can be insightful for investors seeking market stability or potential growth areas. Real estate agents, appraisers, and insurance agents might want to consider these occupancy type trends when assessing property values, determining insurance risk, or advising clients. Understanding these trends can aid in more informed decisions regarding property investments and market predictions.
Economic Outlook
Franklin County, Ohio has witnessed a significant rise in average taxable income per tax return, climbing from $56,670.54 in 2013 to $83,616.09 in 2021. This approximately 47% increase suggests a potentially robust economic environment, making the area increasingly appealing for investors. The surge in average state and local income taxes, which more than doubled from around $7,300.00-$7,900.00 before 2017 to over $14,000.00 by 2021, could be driven by rising incomes or policy changes.... Read more
Average Taxable Income per Tax Return in Franklin County, OH over the last 9 years
Over the past nine years, Franklin County, Ohio has seen a notable upward trend in the average taxable income per tax return, starting from around $56,670.54 in 2013 to about $83,616.09 in 2021. This approximately 47% increase might suggest a flourishing economic environment, potentially making it attractive for investors, appraisers, and real estate agents. The consistent rise, particularly in the last few years, could signal growing wealth or higher-paying job opportunities in the region, which is relevant for anyone considering moving to or investing in Franklin County.
Average State and Local Income Taxes Per Tax Return in Franklin County, OH Over the Last 10 Years
Over the past decade, Franklin County, Ohio has shown a significant upward trend in average state and local income taxes per tax return, with a notable jump starting around 2018. While the amounts hovered between $7,300.00 to $7,900.00 from 2012 to 2017, a sharp increase is observed post-2017, reaching over $14,000.00 by 2021. This rise may be indicative of evolving economic conditions, increased incomes, or policy changes impacting local taxation. For investors, real estate agents, or anyone planning to move to or currently residing in Franklin County, these trends could hint at a growing economic base but also potential for higher tax liabilities.
Average Total Tax Liability Per Tax Return in Franklin County, OH Over the Last 10 Years
Franklin County, Ohio has seen a notable increase in average total tax liability per tax return over the past decade, with figures rising from $9,843.81 in 2012 to $15,005.13 in 2021. This upward trend suggests a growing tax burden, likely influenced by local economic growth, rising property values, or changes in tax policies. Potential investors, real estate agents, and homeowners might find this information useful for financial planning and investment strategies, considering the escalating costs associated with property ownership and income in this area. Such insights may also affect insurance premiums and property appraisals due to the evolving fiscal landscape.
Cost of Living in Franklin County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,451 | $1,524 | $1,752 | $1,778 | $1,320 |
| 1 adult 4 children | $1,451 | $1,245 | $1,347 | $1,778 | $1,432 |
| 2 adults 3 children | $1,451 | $1,245 | $1,517 | $1,778 | $1,086 |
| 1 adult 3 children | $1,451 | $1,017 | $1,112 | $1,778 | $1,198 |
| 2 adults 2 children | $1,183 | $1,019 | $1,281 | $1,589 | $910 |
| 1 adult 2 children | $1,183 | $761 | $876 | $1,589 | $918 |
| 2 adults 1 child | $1,183 | $806 | $1,045 | $974 | $840 |
| 1 adult 1 child | $1,183 | $520 | $640 | $974 | $725 |
| 2 adults | $957 | $647 | $810 | $0 | $615 |
| 1 adult | $857 | $353 | $405 | $0 | $504 |
Safety trends & Data
Franklin County, Ohio has experienced some interesting property crime trends over the past five years. Burglary rates have remained relatively in the $290.00 to $368.00 range, while vehicle theft rates spiked to $341.00 in 2022. Larceny-theft consistently tops the list, often exceeding $1356.00 despite a dip to $1184.00 in 2020. A notable decline in fraud and forgery-related crimes by 2022 suggests enhanced preventative measures. These trends can be crucial for those considering investment or... Read more
Property Crime Trends in Franklin County, OH Over the Last 5 Years
Franklin County, Ohio has seen notable fluctuations in property crime over the past five years. Burglary and motor vehicle theft rates have hovered in the 290.00 to 368.00 range for burglary and 180.00 to 341.00 for vehicle theft, showing relative consistency but with a noticeable spike in vehicle thefts in 2022. Larceny-theft, despite a dip in 2020 at 1184.00, remains the most common property crime, regularly surpassing 1356.00. Interestingly, there was a significant decrease in fraud and forgery-related crimes by 2022, which could point to improved preventative measures. For those considering investment or relocation, these trends can be pivotal in assessing safety and the effectiveness of local law enforcement.
Demographics
Franklin County, Ohio shows a roughly even split in adult gender distribution, with a slight female majority. The area has a diverse age distribution, though those aged 25 to 34 form the largest group, possibly indicating a young working population. Educational attainment leans towards higher education, as more individuals hold bachelor's and advanced degrees compared to just high school completion. The racial composition is predominantly White, with a significant Black or African American... Read more
Race Distribution in Franklin County, Ohio (2022)
Educational Attainment in Franklin County, Ohio (2022)
Age Distribution in Franklin County, Ohio
Citizen Population in Franklin County, Ohio (2022)
Political Trends & Data
In Franklin County, Ohio, the 2020 U.S. Presidential Election saw a significant Democratic lean with roughly 64.88% of the vote, possibly hinting at a shift toward more liberal policies among residents. Republican support hovered around 33.50%, suggesting a potential decline in favor. Minor parties, such as the Libertarian and others, were almost negligible, reinforcing a strong two-party system in the... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Franklin County, Ohio, the 2020 U.S. Presidential Election leaned heavily towards the Democratic Party, potentially indicating a trend toward more liberal policies or priorities among voters. With Democrats capturing about 64.88% of the vote, Republican support might be waning given their 33.50% share. Minor parties like the Libertarian and Others barely made a dent, hinting at a strong two-party dynamic locally.
33.50% of voters voted for the Republican party in the 2020 Presidential Election
64.88% of voters voted for the Democrat party in the 2020 Presidential Election
1.22% of voters voted for the Livertarian party in the 2020 Presidential Election
0.39% of voters voted for the Other party in the 2020 Presidential Election
School Data
Franklin County, Ohio's student-to-teacher ratios have varied over the past nine years, hitting a high of 21 in 2018 and settling around 18 post-2019. These figures surpass the national average of 14, implying larger class sizes that could influence the perceived quality of education. For investors and appraisers, such data might highlight educational challenges or opportunities for development, influencing neighborhood desirability, property values, and insurance... Read more
Student-to-teacher ratio in Franklin County, Ohio over the last 9 years
Franklin County, Ohio has experienced a fluctuating student-to-teacher ratio over the past nine years, peaking at 21 in 2018 but generally stabilizing around 18 post-2019. These ratios are consistently higher than the national average of 14, suggesting potentially larger class sizes and possibly impacting individual student attention and overall education quality. Investors, appraisers, and those contemplating moving to the area might consider these ratios as significant, pointing to either challenges in the school system or opportunities for educational infrastructure investment. Real estate professionals and insurance agents could find these metrics useful when assessing neighborhood appeal and the potential impact on property values and insurance premiums.
