Fayette County Real Estate and Livability Trends
Fayette County, Pennsylvania, is witnessing an intriguing convergence of economic growth and rising living costs, with the average taxable income increasing to $58,040.08 in 2021 and corresponding hikes in state and local taxes. The stark rise in average real estate taxes over the past decade could mean escalating property values or shifting tax rates, making it a mixed bag for prospective... Read more
Fayette County Market Trends
Fayette County, Pennsylvania has seen a steady, albeit slower, rise in median home values compared to state and national averages, suggesting it might be an undervalued market with growth potential. Notably, the county experienced a significant spike in residential energy tax credits in 2018, which may indicate a growing focus on energy-efficient upgrades among homeowners. Additionally, average... Read more
Median Value of Occupied Housing Units in Fayette County, Pennsylvania Over the Last 8 Years
Over the past eight years, Fayette County, Pennsylvania has seen a consistent rise in median home values from $88,900.00 in 2015 to $121,800.00 in 2022. This upward trend, though steady, lags behind both state and national averages, which topped $226,200.00 and $179,400.00 respectively in 2022. For investors and homebuyers, these figures may present Fayette County as a potentially undervalued market with room for growth, particularly compared to broader state and national trends.
Residential Energy Tax Credit Per Tax Return in Fayette County, PA Over the Last 9 Years
Fayette County, Pennsylvania has shown fluctuations in the average residential energy tax credit per tax return over the past nine years. The most noteworthy spike occurred in 2018, reaching an unprecedented $1671.43, which likely indicates significant investments in energy-efficient upgrades among homeowners. This peak contrasts sharply with the lower averages seen in previous years like 2014 and 2015, where the credit hovered around $300.00 and $318.49 respectively. Such data could be vital for investors and real estate agents in assessing the county's growing focus on energy efficiency, which can also influence home valuations and insurance assessments.
Average Real Estate Taxes Per Tax Return in Fayette County, PA Over the Last 10 Years
Fayette County, Pennsylvania has experienced a substantial increase in average real estate taxes per tax return over the past decade. In 2012, the average tax was around $2488.36, and it saw a consistent rise, peaking sharply at $4690.20 in 2020 before settling slightly lower at $4210.00 in 2021. This trend suggests escalating property values or adjustments in tax rates, making it essential for prospective investors, homeowners, and real estate professionals to be aware of potential increases in overhead costs.
Percentage of Farm Returns in Fayette County, PA Over the Last 10 Years
The percentage of farm tax returns in Fayette County, Pennsylvania over the last decade has hovered consistently around 1%. This reflects a relatively stable agricultural sector in the region. For those considering investing in or moving to Fayette County, this stability might suggest an entrenched, though small, farming community. Such consistency also indicates potential resilience against broader economic fluctuations. This is an interesting factor for anyone looking to develop or invest in agricultural properties, as the constancy in farm returns might hint at reliable tax incentives or local support structures for farming activities.
Number of Mortgages by Occupancy Type in Fayette County, PA Over the Last 5 Years in Fayette County
Fayette County, Pennsylvania has shown some dynamic trends in mortgage counts over the past five years. While the number of mortgages for principal residences peaked in 2021 with 5,025 but fell to 3,938 in 2022, investment property mortgages had a modest rise to 223 in 2022 from 167 in 2020. Second residences have consistently had low numbers, albeit with minor fluctuations. Changes in occupancy type can be crucial for investors and real estate agents as they reflect shifting demands and potential growth areas in the county. For instance, the increased interest in investment properties could signal growing rental demand, influencing property values and investment strategies. Understanding these trends helps appraisers, insurance agents, and developers accurately assess risk, set premiums, and plan future projects tailored to market demands, ensuring they tap into the most lucrative opportunities.
Economic Outlook
Fayette County, Pennsylvania has experienced a steady rise in average taxable income, starting at $44,396.39 in 2013 and reaching $58,040.08 by 2021, hinting at a strengthening local economy. Meanwhile, average state and local income taxes have also increased significantly, moving from $4,666.54 in 2012 to $9,108.57 in 2021, which could suggest higher incomes or adjusted tax policies. Additionally, the average total tax liability per tax return hit a high of $8,094.17 in 2021, possibly... Read more
Average Taxable Income per Tax Return in Fayette County, PA over the last 9 years
Fayette County, Pennsylvania has seen a general upward trend in average taxable income over the past nine years. After a modest start at $44,396.39 in 2013, the average taxable income has increased each year with a few minor fluctuations. By 2021, it reached $58,040.08, reflecting a growing economic potential. This trend may suggest an improving local economy, potentially creating a more attractive environment for real estate investments, property development, and insurance underwriting. Those considering moving to Fayette County might find this economic growth encouraging when weighing their options.
Average State and Local Income Taxes Per Tax Return in Fayette County, PA Over the Last 10 Years
Fayette County, Pennsylvania has seen a noticeable uptick in average state and local income taxes per tax return over the past decade, starting at roughly $4,666.54 in 2012 and peaking at approximately $9,108.57 in 2021. This upward trend, especially the sharp increase observed from 2017 onwards, could suggest various economic factors at play, such as increased income levels or shifting tax policies. Those considering investments or relocation in the area may need to factor these evolving tax burdens into their financial planning and decision-making processes. For appraisers and real estate agents, this trend might hint at broader economic growth or shifts in the county's fiscal dynamics.
Average Total Tax Liability Per Tax Return in Fayette County, PA Over the Last 10 Years
Over the last decade, Fayette County, Pennsylvania has seen fluctuations in its average total tax liability per tax return, with a notable increase in recent years. In 2021, the liability reached a peak of $8,094.17, which is a significant jump compared to earlier years. This trend might indicate rising incomes or changes in tax policy, and could be of interest to potential investors and homebuyers assessing the fiscal landscape. With taxes influencing property values and living costs, understanding these trends is crucial for anyone looking to build, purchase, or appraise property in Fayette County.
Cost of Living in Fayette County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,105 | $1,408 | $1,407 | $1,707 | $1,126 |
| 1 adult 4 children | $1,105 | $1,149 | $1,079 | $1,707 | $1,215 |
| 2 adults 3 children | $1,105 | $1,150 | $1,219 | $1,707 | $919 |
| 1 adult 3 children | $1,105 | $939 | $892 | $1,707 | $1,007 |
| 2 adults 2 children | $869 | $941 | $1,031 | $1,486 | $817 |
| 1 adult 2 children | $869 | $703 | $704 | $1,486 | $783 |
| 2 adults 1 child | $869 | $744 | $844 | $769 | $729 |
| 1 adult 1 child | $869 | $481 | $516 | $769 | $623 |
| 2 adults | $721 | $598 | $656 | $0 | $585 |
| 1 adult | $687 | $326 | $328 | $0 | $492 |
Safety trends & Data
Fayette County, Pennsylvania has seen fluctuations in property crime over the past five years, particularly with larceny-theft peaking at 702.00 incidents in 2018 but declining significantly during the pandemic. Motor vehicle theft and burglary have generally decreased post-2018, though there was a slight uptick in 2022. Embezzlement and arson remain relatively rare. These trends could potentially influence investment strategies, property development decisions, and insurance rates, creating a... Read more
Property Crime Trends in Fayette County, PA Over the Last 5 Years
Fayette County, Pennsylvania has experienced notable fluctuations in property crime over the past five years. Larceny-theft consistently dominates, peaking at 702.00 incidents in 2018 and showing significant declines during the pandemic. Motor vehicle theft and burglary occurrences reveal a downward trend post-2018 but saw a slight uptick in 2022. Interestingly, embezzlement and arson remain relatively uncommon. These patterns might impact investment decisions, property development, and insurance rates in the county, suggesting a dynamic environment for real estate agents and potential homeowners alike.
Demographics
Fayette County, Pennsylvania, shows a fairly balanced gender distribution among adults, with a slight edge towards females. Educational attainment is diverse, though the majority have a high school diploma or some college experience, underscoring potential workforce strengths or gaps. Age-wise, there's a notable higher concentration in the older demographics, particularly in the 55 to 64-year range, hinting at a potentially upcoming demand for elder services. Racially, the area is predominantly... Read more
Race Distribution in Fayette County, Pennsylvania (2022)
Educational Attainment in Fayette County, Pennsylvania (2022)
Age Distribution in Fayette County, Pennsylvania
Citizen Population in Fayette County, Pennsylvania (2022)
Political Trends & Data
Fayette County, Pennsylvania's political landscape in the 2020 presidential election leaned prominently Republican, with the party capturing a substantial majority of the vote. Democrats managed to secure roughly a third, indicating a solid conservative tilt. Libertarian and other party supporters were minimal, underscoring a politically polarized environment. These voting patterns could suggest a stable trend for future local and national... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Fayette County, Pennsylvania, the 2020 presidential election saw a significant lean towards the Republican party, most likely indicating strong conservative values among the voters. Despite the Democrats garnering approximately a third of the votes, the dominance of the Republican preference suggests a potentially stable trend for future elections. Libertarian votes were minimal, and any support for other parties was negligible, highlighting a relatively polarized political landscape.
66.35% of voters voted for the Republican party in the 2020 Presidential Election
32.90% of voters voted for the Democrat party in the 2020 Presidential Election
0.75% of voters voted for the Livertarian party in the 2020 Presidential Election
School Data
Fayette County, Pennsylvania, has mostly aligned with the national average student-to-teacher ratio of 14 students per teacher over the past decade, with brief peaks in 2017 and 2018 at 14.66 and 14.31. This relatively balanced ratio might attract families valuing individualized attention in schools, making it a compelling talking point for real estate agents and developers aiming to highlight community benefits to young families. Insights into local educational quality and resource allocation... Read more
Student-to-teacher ratio in Fayette County, Pennsylvania over the last 10 years
Fayette County, Pennsylvania has experienced fluctuations in the student-to-teacher ratio over the past decade. For the most part, ratios hovered around the national average of 14 students per teacher, briefly exceeding this in 2017 and 2018, with peaks of 14.66 and 14.31, respectively. Overall, it appears the county maintains a relatively balanced student-to-teacher ratio compared to national figures, which might appeal to families prioritizing more individualized attention in schools. These trends can be pertinent for investors and those considering relocation, offering insights into local educational quality and resource allocation. Similarly, real estate agents and developers can use this information to highlight community advantages, especially to young families.
