Chester County Real Estate and Livability Trends
Chester County, Pennsylvania, presents a promising real estate landscape fueled by rising taxable incomes, peaking at $163,381.81 in 2021. Growing incomes and a notable decline in the poverty rate to 4.4% in 2022 suggest robust economic health, potentially boosting property values. Median home values surged from $325,800 in 2015 to $435,000 in 2022, outpacing state and national trends, which... Read more
Chester County Market Trends
Chester County, Pennsylvania's median home values have surged from $325,800 in 2015 to $435,000 in 2022, outpacing state and national trends and potentially signaling an attractive investment opportunity. Residential energy tax credits fluctuated dramatically, with a significant peak in 2018 suggesting policy changes or increased investment in energy-efficient improvements. Real estate taxes have... Read more
Median Value of Occupied Housing Units in Chester County, Pennsylvania Over the Last 8 Years
Over the past eight years, Chester County, Pennsylvania has seen a steady increase in median home values, climbing from $325,800 in 2015 to $435,000 in 2022. This growth rate outpaces both state and national trends, where Pennsylvania's median home values rose from $166,000 to $226,200 and national values grew from $125,500 to $179,400 during the same period. This upward trajectory suggests that Chester County could be a particularly attractive area for property investment and may offer promising returns for current homeowners, potential buyers, and real estate developers.
Residential Energy Tax Credit Per Tax Return in Chester County, PA Over the Last 9 Years
Chester County, Pennsylvania has seen notable fluctuations in residential energy tax credits per tax return over the past nine years. Following a steady increase from $562.18 in 2013 to $691.72 in 2015, the credit saw a striking spike in 2018 to $3,938.10. Despite this peak, values have since normalized, with the most recent figure in 2021 at $1,127.03. This volatility, especially 2018's dramatic rise, could indicate significant policy changes or substantial consumer investment in energy-efficient home improvements, presenting both risks and opportunities for investors and real estate professionals.
Average Real Estate Taxes Per Tax Return in Chester County, PA Over the Last 10 Years
Over the last decade, Chester County, Pennsylvania has experienced a steady uptick in average real estate taxes per tax return, climbing from approximately $6,316.74 in 2012 to about $9,229.89 in 2021. The most significant jump occurred between 2017 and 2018 when the average rose by almost $1,282.00, potentially indicating new tax policies or property value assessments. This trend could carry implications for prospective buyers, investors, and existing residents, highlighting the importance of factoring in rising tax costs into financial planning and property appraisals. Real estate and insurance professionals, in particular, may find these shifts crucial when advising clients or assessing future property market trends in the county.
Percentage of Farm Returns in Chester County, PA Over the Last 10 Years
Chester County, Pennsylvania has shown slight fluctuations in farm tax returns over the past decade, with percentages generally around 0.54%. There's a gentle downward trend from 2012, peaking slightly in 2017 at 0.55%, and dropping to a low of 0.51% by 2021. This data adds context to the agricultural economic activity in the area, which might be of interest to potential investors, new residents, or developers seeking to understand local economic nuances. Farm tax returns provide insight into the profitability and scale of farming operations, indirectly pointing to land use efficiency and economic health in rural sectors.
Number of Mortgages by Occupancy Type in Chester County, PA Over the Last 5 Years in Chester County
Chester County, Pennsylvania has shown fluctuating mortgage trends over the past five years, with a clear preference for principal residences, which consistently outnumber other occupancy types. This trend highlights that Chester County is primarily a place where individuals choose to establish their primary homes rather than invest in secondary or rental properties. For investors, this implies a potentially limited market for rental properties but a stable market for family homes, likely driven by factors such as school districts and community amenities. Real estate agents and appraisers should note the stability in principal residences' mortgage count could indicate a steady property value, appealing to long-term homeowners. Insurers might infer a lower risk profile typical of primary residences compared to investment properties, which could affect premium rates. Builders planning new developments might prioritize single-family homes to align with the dominant market demand. Overall, these trends suggest a residential market robust in stability but nuanced in its investment potential.
Economic Outlook
Chester County, Pennsylvania, shows promising real estate potential thanks to rising average taxable incomes, with 2021 peaking at $163,381.81. Growing incomes could boost property values and market activity, drawing interest from both investors and real estate professionals. The steady increase in state and local income taxes, nearly doubling to $19,184.40 by 2021, likely points to economic growth or increasing living costs, vital factors for anyone considering a move or investment in the... Read more
Average Taxable Income per Tax Return in Chester County, PA over the last 9 years
Chester County, Pennsylvania has shown a steady increase in average taxable income per tax return over the past nine years, with a notable spike in 2021 reaching $163,381.81. This rise could suggest a strengthening local economy, making it potentially attractive for real estate investment and development. The growing incomes might also influence property values, insurance rates, and appraisals, creating both opportunities and considerations for professionals in these fields.
Average State and Local Income Taxes Per Tax Return in Chester County, PA Over the Last 10 Years
Over the past decade, Chester County, Pennsylvania has seen a significant and steady rise in average state and local income taxes per tax return. Starting from $8,553.22 in 2012, the amount has almost doubled to reach $19,184.40 by 2021. This trend could indicate strong economic growth or rising living costs within the county, potentially making it a key consideration for investors, real estate agents, and prospective residents. Such an increase underscores the importance of comprehensive financial planning for those looking to settle or do business here.
Average Total Tax Liability Per Tax Return in Chester County, PA Over the Last 10 Years
Over the past decade, Chester County, Pennsylvania has experienced a notable increase in the average total tax liability per tax return. Starting around $21,917.22 in 2012, it climbed steadily, reaching $35,881.22 by 2021. This trend suggests higher incomes or property values, making it relevant for investors and potential residents who should be aware of the rising financial obligations. Appraisers and real estate agents can infer increased market activity or valuation, while insurance agents might anticipate higher premiums. This upward trajectory underscores the county's growing economic landscape, appealing to those interested in property development or real estate investment.
Cost of Living in Chester County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $2,091 | $1,765 | $1,570 | $2,851 | $2,231 |
| 1 adult 4 children | $2,091 | $1,442 | $1,205 | $2,851 | $2,328 |
| 2 adults 3 children | $2,091 | $1,442 | $1,360 | $2,851 | $1,981 |
| 1 adult 3 children | $2,091 | $1,177 | $995 | $2,851 | $2,135 |
| 2 adults 2 children | $1,718 | $1,181 | $1,150 | $2,473 | $1,606 |
| 1 adult 2 children | $1,718 | $882 | $785 | $2,473 | $1,681 |
| 2 adults 1 child | $1,718 | $933 | $940 | $1,243 | $1,194 |
| 1 adult 1 child | $1,718 | $603 | $575 | $1,243 | $1,181 |
| 2 adults | $1,424 | $750 | $730 | $0 | $874 |
| 1 adult | $1,264 | $409 | $365 | $0 | $723 |
Safety trends & Data
Chester County, Pennsylvania has seen significant changes in property crime over the past five years, with burglary cases dropping from 150 in 2018 to 35 in 2022, and larceny-theft dwindling from 1033 incidents to 434 in the same period. Vandalism hit a peak at 178 incidents in 2019 but fell to 70 by 2022. These shifts might indicate improved safety measures or evolving crime patterns, offering valuable insights for investors, real estate professionals, and... Read more
Property Crime Trends in Chester County, PA Over the Last 5 Years
Chester County, Pennsylvania has experienced noticeable fluctuations in property crime over the past five years, especially in categories such as burglary and larceny-theft. Burglaries dropped drastically from 150 in 2018 to just 23 in 2021, but saw a slight rise to 35 in 2022. Larceny-theft saw significant reduction from 1033 incidents in 2018 to 434 by 2022. Vandalism numbers also varied, peaking at 178 incidents in 2019 before falling to 70 in 2022. Fraud and embezzlement have generally trended downward, reflecting better prevention measures or possibly changes in reporting. These trends potentially indicate improved community safety initiatives or shifts in criminal behavior, useful insights for potential investors, real estate professionals, and current residents.
Demographics
Chester County, Pennsylvania shows a nearly balanced gender distribution with somewhat more females than males. The adult population reveals a higher percentage with advanced educational attainment, including a substantial portion holding bachelor's degrees. Age-wise, the county has a significant number of residents in the 45 to 64-year range, hinting at a mature demographic. Racially, the population is predominantly White, but there is a noticeable representation of Asian and African American... Read more
Race Distribution in Chester County, Pennsylvania (2022)
Educational Attainment in Chester County, Pennsylvania (2022)
Age Distribution in Chester County, Pennsylvania
Citizen Population in Chester County, Pennsylvania (2022)
Political Trends & Data
In Chester County, Pennsylvania, the 2020 U.S. Presidential Election results suggest a potential shift in voter sentiment, with Democrats capturing approximately 57.99% of the vote compared to Republicans' 40.88%. The substantial Democratic preference hints at evolving demographics or changing political attitudes in the county, which could have broader implications for future local policies and community... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Chester County, Pennsylvania, the 2020 U.S. Presidential Election results indicate Democrats potentially outperformed Republicans by a notable margin, capturing around 57.99% of the vote compared to the Republicans' 40.88%. The Libertarian party garnered a minimal 1.13%, with virtually no support for the Green party or other affiliations. This significant lean towards Democratic preference could suggest a shift in voter sentiment or demographic changes in the county.
40.88% of voters voted for the Republican party in the 2020 Presidential Election
57.99% 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
School Data
Chester County, Pennsylvania’s steady decline in its student-to-teacher ratio from nearly fifteen in 2014 to just over thirteen in 2023 positions it below the national average of fourteen. This could suggest more individualized attention in classrooms, potentially appealing to families prioritizing education. Real estate agents and appraisers might find this data valuable when highlighting the community's quality, possibly affecting local property values... Read more
Student-to-teacher ratio in Chester County, Pennsylvania over the last 10 years
Chester County, Pennsylvania has experienced a gradual decline in its student-to-teacher ratio over the past decade, moving from nearly fifteen in 2014 to just over thirteen in 2023. This figure is consistently below the current national average of fourteen students per teacher, suggesting potentially more individualized attention in classrooms. For those considering investing in or moving to the area, this might imply a more favorable educational environment. Real estate agents, appraisers, and insurance agents could also leverage this data point as an indicator of community quality. Lower student-to-teacher ratios might also be attractive to families prioritizing education and could influence local property values positively.
