Richland County Real Estate and Livability Trends
Richland County, Ohio, is seeing an interesting pattern of economic growth with the average taxable income per tax return rising from $43,526.40 in 2013 to $58,037.92 in 2021, despite a concurrent rise in state and local income taxes and fluctuating poverty rates. Median home values have climbed from $102,500 in 2015 to $140,500 in 2022 but are still below the state's average and national median,... Read more
Richland County Market Trends
Richland County, Ohio has seen median home values climb from $102,500 in 2015 to $140,500 in 2022, still trailing behind the state's average and national median. Energy tax credits peaked at $2,511.11 in 2018, possibly due to major policy shifts, then stabilized around $658.67 to $795.12 in 2020-2021, impacting decisions for energy-efficient renovations. Real estate taxes have almost doubled from... Read more
Median Value of Occupied Housing Units in Richland County, Ohio Over the Last 8 Years
Richland County, Ohio has experienced a steady increase in median home values over the last eight years, growing from $102,500 in 2015 to $140,500 in 2022. Although this growth is significant, it's still below Ohio's state average that went from $129,900 to $183,300 and the national median home value that surged from $125,500 to $179,400 in the same period. This suggests potential investment opportunities for those looking to capitalize on still relatively affordable property prices in Richland County compared to broader state and national trends.
Residential Energy Tax Credit Per Tax Return in Richland County, OH Over the Last 9 Years
Residential energy tax credits in Richland County, Ohio have shown notable fluctuations over the past nine years. From a consistent increase through 2017, hitting an average of $579.07 per return, the credit sharply spiked to $2,511.11 in 2018, before stabilizing again around the $658.67 to $795.12 range in 2020 and 2021. This suggests that major investments or policy changes occurred during 2018, affecting the incentives significantly. Investors, property developers, and real estate agents might find these trends indicative of periods when energy-efficient improvements were highly incentivized, which could impact future renovation decisions and property valuations.
Average Real Estate Taxes Per Tax Return in Richland County, OH Over the Last 10 Years
Over the past decade, Richland County, Ohio has seen a gradual increase in average real estate taxes per tax return, starting from $2,463.96 in 2012 to $4,653.13 in 2021. This consistent rise, particularly noticeable with steeper increments after 2017, could imply an appreciating property market or changes in local tax policies. For potential investors or homeowners, these trends may suggest a growing demand in the area, while appraisers and insurance agents might need to account for these escalating values in their assessments and policies. Real estate agents could use this information to highlight historical property value appreciation to prospects, reinforcing the county's potential as a solid investment.
Percentage of Farm Returns in Richland County, OH Over the Last 10 Years
In Richland County, Ohio, farm tax returns have fluctuated slightly over the past decade, hovering around 1.8% of total returns. This indicates that farming plays a steady, albeit small, role in the local economy. Investors and property developers might find this data useful as it suggests a stable agricultural sector. For those considering moving to or investing in this area, the consistent presence of farm returns could be a sign of economic stability, particularly in agriculture-related opportunities.
Number of Mortgages by Occupancy Type in Richland County, OH Over the Last 5 Years in Richland County
Over the past five years in Richland County, Ohio, there’s been fluctuating interest in both principal residences and investment properties, with principal residences consistently capturing the lion’s share of mortgages each year. Although there's a notable spike in 2021 for principal residence mortgages, trends in investment property mortgages have shown an upward trajectory since 2018, likely indicating growing investor interest. Changes in the type of occupancy matter as they signal shifts in demand for different property uses, impacting market dynamics, property valuations, and insurance considerations. This variation affects decisions for investors, future residents, realtors, and builders as it reflects economic conditions and housing needs in the area.
Economic Outlook
Richland County, Ohio has experienced a steady climb in average taxable income per tax return, moving from $43,526.40 in 2013 to $58,037.92 in 2021, pointing to potential economic growth. This could entice investors and real estate professionals, alongside rising average state and local income taxes, particularly from $5,751.55 in 2017 to $9,959.69 in 2021, impacting the overall cost of living. Additionally, the county's poverty rates have seen notable fluctuations, with a low of 11.1% in 2017... Read more
Average Taxable Income per Tax Return in Richland County, OH over the last 9 years
Over the past nine years, Richland County, Ohio has seen a steady increase in average taxable income per tax return. The figures grew from $43,526.40 in 2013 to $58,037.92 in 2021, reflecting a trend that may indicate economic growth or rising wages in the area. This gradual increase could suggest a strengthening local economy, which might be attractive to investors, real estate agents, and those considering relocation. Property developers and appraisers may also find this trend relevant when assessing the county's real estate market and its potential for future development. Insurance agents might consider these income trends when crafting policies, while existing residents may view the rise in incomes as a positive sign for their community's economic health.
Average State and Local Income Taxes Per Tax Return in Richland County, OH Over the Last 10 Years
Richland County, Ohio has seen a notable increase in average state and local income taxes per tax return over the last decade, with a significant jump starting in 2018 when the average taxes rose from around $5,751.55 in 2017 to $8,435.80 in 2018. This upward trend continued, reaching $9,959.69 in 2021. These escalating tax figures could be a critical factor for prospective investors, property developers, and potential residents to consider, potentially impacting the overall cost of living and returns on real estate investments. Real estate agents and insurance agents might find this data pivotal for assessing the financial landscape and advising clients accordingly.
Average Total Tax Liability Per Tax Return in Richland County, OH Over the Last 10 Years
Average total tax liability per tax return in Richland County, Ohio has seen a notable increase over the past decade, with the most significant rise observed between 2016 and 2021. The data shows a jump from $6,101.81 in 2012 to $8,046.23 in 2021, suggesting a possible increase in income levels or changes in tax policy. This trend could be relevant for prospective investors, property appraisers, and real estate agents assessing the fiscal environment, as well as for residents and insurance agents who may need to consider how these changes impact financial planning and property valuations.
Cost of Living in Richland County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,073 | $1,379 | $2,034 | $1,034 | $971 |
| 1 adult 4 children | $1,073 | $1,126 | $1,564 | $1,034 | $1,025 |
| 2 adults 3 children | $1,073 | $1,127 | $1,760 | $1,034 | $767 |
| 1 adult 3 children | $1,073 | $920 | $1,291 | $1,034 | $790 |
| 2 adults 2 children | $794 | $922 | $1,486 | $935 | $680 |
| 1 adult 2 children | $794 | $689 | $1,017 | $935 | $595 |
| 2 adults 1 child | $794 | $729 | $1,212 | $615 | $673 |
| 1 adult 1 child | $794 | $471 | $743 | $615 | $540 |
| 2 adults | $620 | $586 | $938 | $0 | $535 |
| 1 adult | $554 | $319 | $469 | $0 | $439 |
Safety trends & Data
Richland County, Ohio, witnessed notable fluctuations in property crimes over the past five years. Larceny-theft cases saw a sharp decline from 672 in 2018 to 217 in 2022, potentially reflecting improved theft prevention or better economic conditions. Vandalism and fraud also generally decreased, with significant drops in 2022. Conversely, motor vehicle thefts slightly increased from five to nine cases, highlighting a potential area of concern. These changing crime trends could influence... Read more
Property Crime Trends in Richland County, OH Over the Last 5 Years
Richland County, Ohio has seen fluctuations in property crimes over the past five years. While larceny-theft consistently holds the highest numbers, it dropped from 672 cases in 2018 to 217 in 2022, suggesting possible improvements in theft prevention or economic conditions. Arson shows minimal activity throughout the years, never surpassing six incidents annually. Vandalism and fraud have also seen generally declining trends, with notable dips in 2022. However, motor vehicle theft slightly increased from five to nine cases, indicating a potential area of concern. For investors, real estate agents, and residents, these trends might hint at evolving safety dynamics and economic shifts impacting property values and insurance rates.
Demographics
Richland County, Ohio exhibits an intriguing mix of demographics that could influence the local economy and social dynamics. Both genders are fairly balanced among adults, with a slight edge to males. Educational attainment trends suggest a strong emphasis on high school education, though advanced degree holders are less common. Age distribution data highlights a substantial population in the 25 to 64-year range, potentially driving the workforce and local economy. The racial composition is... Read more
Race Distribution in Richland County, Ohio (2022)
Educational Attainment in Richland County, Ohio (2022)
Age Distribution in Richland County, Ohio
Citizen Population in Richland County, Ohio (2022)
Political Trends & Data
Richland County, Ohio, showed a strong Republican inclination in the 2020 Presidential Election, with almost 69% of the vote. Democrats received just under 30%, and Libertarians barely cleared 1%, hinting at a predominant two-party preference with limited third-party influence. This could imply political stability and predictability in the area, which might appeal to buyers seeking consistency in governance and local... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Richland County, Ohio, saw a clear lean towards the Republican party in the 2020 U.S. Presidential Election, with nearly 69% of the vote. Democrats garnered just under 30%, while Libertarians only managed a small fraction over 1%. Other parties had negligible impact, suggesting a strong two-party preference with minimal third-party influence.
69.15% of voters voted for the Republican party in the 2020 Presidential Election
29.41% of voters voted for the Democrat party in the 2020 Presidential Election
1.13% of voters voted for the Livertarian party in the 2020 Presidential Election
0.31% of voters voted for the Other party in the 2020 Presidential Election
School Data
Richland County, Ohio, has experienced notable changes in its student-to-teacher ratio over the past nine years, peaking at nineteen and averaging closer to sixteen, compared to the national average of fourteen. These fluctuations might influence investment decisions, as a higher student-to-teacher ratio could reflect resource allocation, impacting perceived education quality. For insurance agents and appraisers, these ratios may indicate broader demographic trends, affecting property values... Read more
Student-to-teacher ratio in Richland County, Ohio over the last 9 years
Richland County, Ohio, has seen significant fluctuations in its student-to-teacher ratio over the last nine years, reaching a high of nineteen students per teacher and averaging closer to sixteen. This rate is notably higher than the current national average of fourteen students per teacher. Such changes in occupancy type might influence decisions for potential investors, real estate agents, and new residents, as a higher student-to-teacher ratio could be a reflection of resource allocation, affecting the perceived quality of education. For insurance agents and appraisers, these ratios could also hint at broader demographic trends, impacting property valuations and community infrastructure needs.
