Centre County Real Estate and Livability Trends
Centre County, Pennsylvania has seen significant economic growth. Average taxable income per tax return rose from $61,381.08 in 2013 to $87,905.60 by 2021. This financial uptick might explain the surge in median home values, jumping from $197,200 in 2015 to $289,800 in 2022, outpacing both state and national medians. Increased real estate taxes per tax return, climbing from $4,077.18 in 2012 to... Read more
Centre County Market Trends
Median home values in Centre County, Pennsylvania, surged from $197,200 in 2015 to $289,800 in 2022, outpacing the statewide median of $226,200 and the national median of $179,400. Although residential energy tax credits spiked dramatically in 2018 to an average of $4,963.64, they have stabilized more recently, averaging $1,370.83 in 2021. Real estate taxes per tax return also reflect a strong... Read more
Median Value of Occupied Housing Units in Centre County, Pennsylvania Over the Last 8 Years
Median home values in Centre County, Pennsylvania, have shown a significant increase from $197,200 in 2015 to $289,800 in 2022. Compared to the statewide median of $226,200 and the national median of $179,400 in 2022, Centre County appears to be a strong performer. This growth trend is likely to catch the interest of potential investors and homebuyers looking for promising returns in real estate. The consistent rise, punctuated by the steep jump from $254,500 in 2021 to $289,800 in 2022, indicates a robust market that could offer stability and investment potential.
Residential Energy Tax Credit Per Tax Return in Centre County, PA Over the Last 9 Years
Centre County, Pennsylvania has seen some fluctuation in average residential energy tax credits per tax return over the past nine years. The values peaked dramatically in 2018 with an average of $4,963.64, perhaps indicating significant investments in energy-efficient home improvements. More recent years have seen a more stable average, with 2021 at $1,370.83. This pattern suggests ongoing, but more moderate, homeowner engagement in energy efficiency, which is likely relevant for real estate agents and investors aiming to understand the local market dynamics.
Average Real Estate Taxes Per Tax Return in Centre County, PA Over the Last 10 Years
Centre County, Pennsylvania has seen a consistent rise in average real estate taxes per tax return over the past decade, with a notable jump starting in 2018. From $4,077.18 in 2012 to $6,418.31 in 2021, this upward trajectory offers insight for investors, developers, and residents alike, highlighting potential increases in property value and shifts in local taxation policies. The significant leap around 2018 suggests changes in tax assessments or property valuations, which could impact future real estate market dynamics and budget planning for homeowners and investors.
Percentage of Farm Returns in Centre County, PA Over the Last 10 Years
Centre County, Pennsylvania, has seen a fairly steady percentage of farm tax returns over the past decade, with figures hovering around 1.40% to 1.48%. Farm tax returns are somewhat of an indicator of the active agricultural economy within the county, as they reflect the number of farming entities filing taxes. This stability in agricultural tax returns could suggest a consistent, albeit modest, farming presence, which might be of interest to potential investors, new residents, or developers looking at rural and semi-rural opportunities in the region. For those already living in Centre County, this consistency in the agricultural sector might signal steady community support and local food production sustainability.
Number of Mortgages by Occupancy Type in Centre County, PA Over the Last 5 Years in Centre County
The number of mortgages in Centre County, Pennsylvania, shows a significant lean toward principal residences, with counts peaking at over 7,000 in 2021, a steady increase from around 4,400 in 2018. Investment properties have a relatively consistent but smaller share, hovering around 300-400 mortgages annually. Second residences remain the least common, reflecting a niche market. These trends are critical for investors and real estate agents, indicating a robust demand for primary homes which could drive property values. Insurance agents might note that the predominance of principal residences could influence risk assessments, while appraisers can leverage these trends in property valuation. Builders and those looking to move might find opportunities in the burgeoning market for primary residences.
Economic Outlook
In Centre County, Pennsylvania, average taxable income per tax return has climbed from $61,381.08 in 2013 to $87,905.60 by 2021, suggesting a progressively stronger local economy. The average state and local income taxes per tax return also rose, peaking at $11,809.38 in 2021, which could impact affordability and budgeting for potential buyers. Similarly, the total tax liability per tax return increased from $9,672.62 in 2012 to approximately $14,938.00 in 2021, reflecting rising incomes and... Read more
Average Taxable Income per Tax Return in Centre County, PA over the last 9 years
Centre County, Pennsylvania has seen a notable increase in average taxable income per tax return over the past nine years. Starting at approximately $61,381.08 in 2013, the county experienced steady growth, reaching around $87,905.60 by 2021. Such a trend suggests a progressively stronger local economy, which could be appealing for investors, potential residents, and real estate professionals. This upward trajectory in income might also impact property values, insurance assessments, and future development opportunities.
Average State and Local Income Taxes Per Tax Return in Centre County, PA Over the Last 10 Years
In Centre County, Pennsylvania, there's been a noticeable upward trend in average state and local income taxes per tax return over the past decade. Starting at $6,137.55 in 2012, the taxes have steadily increased, with a significant leap in recent years, peaking at $11,809.38 in 2021. This rise suggests that costs for residents and potential investors are trending higher, which could impact affordability and budgeting considerations for those looking to buy property or move into the area. For real estate professionals, this can affect market dynamics and appraisals, while insurance agents might see shifts in policy requirements due to changing economic pressures.
Average Total Tax Liability Per Tax Return in Centre County, PA Over the Last 10 Years
Centre County, Pennsylvania has seen a steady rise in average total tax liability per tax return over the past decade. Starting at around $9,672.62 in 2012, this figure has peaked at approximately $14,938.00 in 2021. This notable increase may reflect a combination of rising incomes, property values, and possibly changes to the tax code. For potential investors, real estate agents, and residents, these trends could indicate a robust local economy but also suggest higher costs of moving into or developing within the county. Appraisers and insurance agents should take note of the appreciating property and potential impacts on related assessments and premiums.
Cost of Living in Centre County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,576 | $1,584 | $1,928 | $2,244 | $1,792 |
| 1 adult 4 children | $1,576 | $1,294 | $1,481 | $2,244 | $1,905 |
| 2 adults 3 children | $1,576 | $1,294 | $1,669 | $2,244 | $1,534 |
| 1 adult 3 children | $1,576 | $1,057 | $1,223 | $2,244 | $1,668 |
| 2 adults 2 children | $1,285 | $1,060 | $1,410 | $1,960 | $1,259 |
| 1 adult 2 children | $1,285 | $791 | $964 | $1,960 | $1,280 |
| 2 adults 1 child | $1,285 | $837 | $1,151 | $1,038 | $1,023 |
| 1 adult 1 child | $1,285 | $541 | $705 | $1,038 | $919 |
| 2 adults | $1,111 | $673 | $892 | $0 | $784 |
| 1 adult | $1,091 | $367 | $446 | $0 | $667 |
Safety trends & Data
Property crime in Centre County, Pennsylvania, has generally decreased over the last five years. Larceny-theft, the most common property crime, dropped from 325.00 cases in 2018 to 41.00 in 2021, then slightly increased to 174.00 in 2022. Burglary and vandalism incidents have significantly reduced, indicating possibly enhanced security or community vigilance. The relatively volatile yet lower volumes of fraud and forgery incidents may require ongoing attention. This downward trend in property... Read more
Property Crime Trends in Centre County, PA Over the Last 5 Years
Property crime in Centre County, Pennsylvania, has generally shown an overall decrease over the last five years. Larceny-theft, consistently the most common property crime, has notably dropped from 325.00 cases in 2018 to 41.00 in 2021 before slightly increasing to 174.00 in 2022. Burglary and vandalism incidents have also seen significant reductions, suggesting possibly enhanced security measures or community vigilance. However, fraud and forgery incidents appeared relatively volatile, albeit lower volumes, requiring ongoing attention from local authorities and residents. This downward trend in property crimes is potentially appealing for prospective homebuyers and investors considering the area.
Demographics
Centre County, Pennsylvania, showcases a gender imbalance with a slightly higher number of males compared to females. Interesting educational trends reveal a significant portion of the population holding bachelor's and graduate degrees, highlighting a potentially well-educated community. Age distribution skews younger, with a notable concentration in the 20 to 24-year age bracket, likely influenced by local universities. Racially, the county remains predominantly white, with minorities making... Read more
Race Distribution in Centre County, Pennsylvania (2022)
Educational Attainment in Centre County, Pennsylvania (2022)
Age Distribution in Centre County, Pennsylvania
Citizen Population in Centre County, Pennsylvania (2022)
Political Trends & Data
Centre County, Pennsylvania demonstrated a subtle Democratic preference in the 2020 U.S. Presidential Election, as evidenced by 51.7% of the vote going to the Democratic Party versus 46.9% for the Republican Party. Libertarians, though marginal, managed to attract about 1.4% of the vote. This competitive political climate may influence various aspects of the local environment, including policy-making and investment... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Centre County, Pennsylvania, showcased a slight Democratic lean in the 2020 U.S. Presidential Election, with approximately 51.7% of voters aligning with the Democratic Party and 46.9% backing the Republican Party. Libertarians, although a minor presence, managed to capture nearly 1.4% of the vote. These results could indicate a relatively competitive political landscape, with potential implications for future elections in the county.
46.94% of voters voted for the Republican party in the 2020 Presidential Election
51.69% of voters voted for the Democrat party in the 2020 Presidential Election
1.38% of voters voted for the Livertarian party in the 2020 Presidential Election
School Data
Centre County, Pennsylvania boasts a student-to-teacher ratio consistently between 11 and 13 students per teacher over the past decade, notably below the national average of 14. This trend suggests more personalized attention in classrooms, appealing to families seeking strong educational environments. Investors and real estate agents might find this a compelling selling point, while appraisers and insurance agents could consider it indicative of stable community... Read more
Student-to-teacher ratio in Centre County, Pennsylvania over the last 10 years
Centre County, Pennsylvania has consistently maintained a low student-to-teacher ratio over the past decade, with figures hovering between 11 and 13 students per teacher. This trend is comfortably below the U.S. national average of 14 students per teacher, potentially pointing to more personalized attention in classrooms and a stronger educational environment. For those considering moving to the area, families might see this as a positive factor in choosing Centre County schools. Investors and real estate agents might also view this as a selling point, while appraisers and insurance agents could see it as a factor contributing to stable community development.
