Trumbull County Real Estate and Livability Trends
Trumbull County, Ohio has seen a rise in average taxable income per tax return, which jumped from about $43,962.61 in 2013 to around $55,837.05 in 2021. This could hint at economic stability, drawing interest from real estate investors. Median home values have been on the upswing since 2015, suggesting potential for affordable investment despite remaining below state and national medians.... Read more
Trumbull County Market Trends
Trumbull County, Ohio has seen steady growth in median home values since 2015, yet remains below state and national medians, potentially offering affordable investment opportunities. The county also experienced significant fluctuations in residential energy tax credits, peaking sharply in 2018 and rising again in 2021, indicative of increased energy-efficient home improvements. Meanwhile, average... Read more
Median Value of Occupied Housing Units in Trumbull County, Ohio Over the Last 8 Years
Trumbull County, Ohio has seen steady growth in median home values over the last eight years, rising from $97,000 in 2015 to $121,400 in 2022. This increase, although substantial, still places Trumbull County below the state median of $183,300 and the national median of $179,400 for 2022. For potential investors or homebuyers, the county may offer more affordable options compared to broader markets in Ohio and the United States, suggesting a potential for value appreciation. This trend could also indicate emerging opportunities for developers to tap into a market that has been experiencing consistent, though relatively modest, growth compared to the state and national levels.
Residential Energy Tax Credit Per Tax Return in Trumbull County, OH Over the Last 9 Years
Trumbull County, Ohio has seen significant fluctuations in the average residential energy tax credit per tax return over the past nine years. Notably, there was a sharp spike in 2018 with an average credit of $1772.73, potentially signaling a major policy shift or increased adoption of energy-efficient improvements. The credits have generally trended upwards, peaking again in 2021 with an average of $432.54, a figure much higher than the earlier years like 2013 and 2014, which hovered around $241. This trend suggests increasing investments in residential energy efficiency, which could appeal to prospective homeowners looking for modern, energy-efficient housing options, and highlight opportunities for real estate and insurance professionals.
Average Real Estate Taxes Per Tax Return in Trumbull County, OH Over the Last 10 Years
Over the past decade, Trumbull County, Ohio, has seen a notable upward trend in average real estate taxes per tax return, escalating from approximately $2,677.20 in 2012 to around $4,559.66 in 2021. The jump between 2017 and 2018 is particularly striking, suggesting possible revaluations or changes in tax policy. This gradual increase in property taxes is a crucial factor for potential investors, homebuyers, and financial professionals to consider, as it impacts overall property costs and the future financial landscape of owning real estate in the county.
Percentage of Farm Returns in Trumbull County, OH Over the Last 10 Years
Farm tax returns in Trumbull County, Ohio have shown minor fluctuations over the past decade, ranging from approximately 0.77% to 0.83%. These returns are critical in understanding the agricultural economic contributions within the county. Investors and property developers might find these trends indicative of stability in the agricultural sector, suggesting potential opportunities in agribusiness ventures or investments tied to farming. A relatively stable percentage of farm returns could also hint at consistent land use for agriculture, which may influence property values and land use planning.
Number of Mortgages by Occupancy Type in Trumbull County, OH Over the Last 5 Years in Trumbull County
Mortgage trends in Trumbull County, Ohio over the past five years suggest a consistent dominance of principal residence mortgages, peaking in 2021 with nearly 11,300 counts and then seeing a slight drop in 2022. Investment property mortgages have remained relatively stable, with a subtle increase observed in 2022 after fluctuating slightly in previous years. Second residence mortgages are comparatively low, maintaining figures roughly around 80 annually. Shifts in these mortgage counts could imply changes in the local economy, population movements, or investment opportunities, which are critical considerations for investors, real estate agents, and appraisers. These variations might also influence insurance rates, property values, and demand for new developments, thereby shaping the county's real estate landscape.
Economic Outlook
Over the past nine years, Trumbull County, Ohio, has seen significant growth in average taxable income per tax return, rising from about $43,962.61 in 2013 to around $55,837.05 in 2021. This could signal economic resilience or increased prosperity, making the region particularly appealing for real estate and investment opportunities. Notably, average state and local income taxes per tax return have also increased, peaking at $9,464.80 in 2020, which may indicate rising incomes. Additionally,... Read more
Average Taxable Income per Tax Return in Trumbull County, OH over the last 9 years
Over the past nine years, Trumbull County, Ohio has seen a consistent upward trajectory in average taxable income per tax return, rising from approximately $43,962.61 in 2013 to around $55,837.05 in 2021. This steady growth, especially the significant jump observed between 2020 and 2021, could potentially indicate economic resilience or increased prosperity in the region. Those involved in real estate, investment, or property development might find this trend appealing as it suggests a stronger financial backbone among residents.
Average State and Local Income Taxes Per Tax Return in Trumbull County, OH Over the Last 10 Years
Over the last decade, Trumbull County, Ohio has seen a notable increase in average state and local income taxes per tax return, peaking at $9,464.80 in 2020. After 2017, there was a significant jump, with 2018 hitting $8,024.68. The growth persisted through 2021, which stood at $9,277.90. This upward trend may suggest rising incomes or possibly higher tax rates, providing a potentially lucrative source of revenue for the county and signaling improved financial health for its residents, but also requires consideration for anyone planning to move to or invest in the area.
Average Total Tax Liability Per Tax Return in Trumbull County, OH Over the Last 10 Years
Over the last 10 years, Trumbull County, Ohio has seen fluctuations in average total tax liability per tax return, peaking most recently in 2021 at approximately $7,514.53. This trend suggests economic variability, possibly influenced by changes in local employment rates, housing markets, or broader economic conditions. Knowing this could be essential for investors, real estate agents, and insurers as it offers insight into residents' financial burdens and, indirectly, the economic health of the area.
Cost of Living in Trumbull County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,051 | $1,500 | $1,882 | $1,778 | $1,207 |
| 1 adult 4 children | $1,051 | $1,225 | $1,447 | $1,778 | $1,317 |
| 2 adults 3 children | $1,051 | $1,225 | $1,629 | $1,778 | $991 |
| 1 adult 3 children | $1,051 | $1,000 | $1,194 | $1,778 | $1,070 |
| 2 adults 2 children | $795 | $1,003 | $1,375 | $1,589 | $837 |
| 1 adult 2 children | $795 | $749 | $941 | $1,589 | $805 |
| 2 adults 1 child | $795 | $793 | $1,122 | $974 | $755 |
| 1 adult 1 child | $795 | $512 | $688 | $974 | $623 |
| 2 adults | $632 | $637 | $869 | $0 | $536 |
| 1 adult | $573 | $347 | $435 | $0 | $440 |
Safety trends & Data
Property crime in Trumbull County, Ohio, over the past five years has varied, with larceny-theft peaking at 279 incidents in 2020. Burglary rates have decreased from 69 in 2019 to 55 in 2022, possibly indicating better security or community efforts. While motor vehicle thefts remain low, they've seen a slight uptick, with seven incidents in both 2021 and 2022. Fraud cases are trending downward, from 39 in 2018 to 13 in 2022, suggesting improved detection and prevention. Vandalism has... Read more
Property Crime Trends in Trumbull County, OH Over the Last 5 Years
Property crime trends in Trumbull County, Ohio, have demonstrated variances over the past five years, with larceny-theft being the most prominent issue. From 2018 to 2022, larceny-theft incidents peaked at 279 in 2020, indicating potential concerns for retail businesses and homeowners. Burglary rates showed a decrease from 69 incidents in 2019 to 55 in 2022, which might hint at improved security measures or community initiatives. Motor vehicle thefts remained relatively low but showed a slight increase, with seven incidents reported in both 2021 and 2022. Fraud cases displayed a downward trend, dropping from 39 in 2018 to 13 in 2022, possibly reflecting better detection and prevention techniques. Vandalism rates, although fluctuating, reached a high of 37 in 2020 but moderated to 30 by 2022. These trends could be vital for investors, property developers, and community planners in making informed decisions regarding safety measures and economic development in the county.
Demographics
Trumbull County, Ohio, exhibits a slight demographic skew towards a female population. Educational attainment trends suggest a significant portion of adults have at least a high school diploma, with fewer pursuing higher education beyond the bachelor's level. Age distribution data shows a balance across various age groups, though there's a noticeable concentration in the 45 to 64 age range. The racial composition is predominantly White, with African Americans forming the largest minority group.... Read more
Race Distribution in Trumbull County, Ohio (2022)
Educational Attainment in Trumbull County, Ohio (2022)
Age Distribution in Trumbull County, Ohio
Citizen Population in Trumbull County, Ohio (2022)
Political Trends & Data
In Trumbull County, Ohio, the 2020 U.S. Presidential Election results showed that Republican voters potentially had a strong presence, capturing around 54.60% of the vote. Democrats seemed to follow with approximately 44%, while Libertarian support was minimal at about 0.90%. This voting pattern could suggest a notable Republican-leaning ambiance in the county, likely impacting local policies and market... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Trumbull County, Ohio, it looks like Republican voters potentially held the majority in the 2020 U.S. Presidential Election, with approximately 54.6% of the vote. Democrats possibly followed with about 44%. Libertarian support seemed minimal, around 0.9%, with negligible to no support for Green and other parties. This distribution might indicate a significant partisan leaning toward Republicans in this particular county during that election period.
54.65% of voters voted for the Republican party in the 2020 Presidential Election
44.08% of voters voted for the Democrat party in the 2020 Presidential Election
0.90% of voters voted for the Livertarian party in the 2020 Presidential Election
0.37% of voters voted for the Other party in the 2020 Presidential Election
School Data
Trumbull County, Ohio, has seen its student-to-teacher ratio hover above the national average of 14 students per teacher, peaking at 18 in 2020 and seeing only a slight decrease to approximately 18 in 2023. This trend might influence families weighing educational quality, as well as real estate agents and appraisers considering property values. It could also be relevant for education investors and insurance agents assessing potential... Read more
Student-to-teacher ratio in Trumbull County, Ohio over the last 9 years
Trumbull County, Ohio, has seen its student-to-teacher ratio fluctuate but generally remain above the national average of 14 students per teacher over the past nine years. The ratio peaked at 18 students per teacher in 2020 and has slightly decreased, reaching approximately 18 in 2023. Given that higher student-to-teacher ratios can strain educational resources and affect learning quality, this trend could impact decisions for families considering a move to the area, real estate agents advising clients, and appraisers assessing property values. Understanding these dynamics might also be crucial for education-focused investors and insurance agents analyzing risk.
