Franklin County Real Estate and Livability Trends
In Franklin County, Pennsylvania, the average taxable income per tax return rose from $51,157.67 in 2013 to $68,178.62 in 2021, coinciding with an increase in local income taxes and total tax liabilities. This, combined with a housing market boost—from a median home value of $173,400 in 2015 to $222,000 in 2022—suggests economic growth that could attract investors. The county’s education... Read more
Franklin County Market Trends
Franklin County, Pennsylvania's housing market has seen a steady rise in median values from $173,400 in 2015 to $222,000 in 2022, positioning it competitively against the state and national trends. Property taxes have also surged to approximately $4,869.12 per tax return by 2021, reflecting potential increases in property values or public spending. Additionally, fluctuations in residential energy... Read more
Median Value of Occupied Housing Units in Franklin County, Pennsylvania Over the Last 8 Years
Investors and homebuyers in Franklin County, Pennsylvania might find the local housing market quite appealing. Since 2015, median home values have shown a steady increase from $173,400 to $222,000, indicating a generally upward trend. Compared to the state of Pennsylvania, where median values rose to $226,200 in 2022, Franklin County's growth is competitive. This trend is also reflected on a national scale, where values grew to $179,400 in 2022. The continuous rise in home values could signal a strong local economy and potentially high returns on investment.
Residential Energy Tax Credit Per Tax Return in Franklin County, PA Over the Last 9 Years
Franklin County, Pennsylvania has seen a notable fluctuation in residential energy tax credits over the past nine years. Significant spikes were observed in 2017 and 2018, with the average credit per tax return reaching $2,906.67 in 2018, suggesting potentially increased adoption of energy-efficient upgrades or a change in tax incentives. While there was a decrease in the subsequent year, the tax credit values remained higher relative to earlier years, stabilizing somewhat with a value of $1,354.29 in 2021. This trend may indicate growing investment in energy-efficient technologies, making it an attractive consideration for investors, homeowners, and industry professionals.
Average Real Estate Taxes Per Tax Return in Franklin County, PA Over the Last 10 Years
Over the last 10 years, real estate taxes per tax return in Franklin County, Pennsylvania have shown a notable upward trend, beginning at around $2,959.70 in 2012 and rising to approximately $4,869.12 by 2021. This significant increase, particularly sharp after 2017, suggests a growing tax burden on property owners. For investors, real estate agents, and prospective homeowners, this could indicate rising property values or increasing public expenditures that could impact the overall affordability and attractiveness of real estate in the area.
Percentage of Farm Returns in Franklin County, PA Over the Last 10 Years
Farm tax returns in Franklin County, Pennsylvania have experienced a subtle but steady decline over the past decade. In 2012, farm returns were around 1.98%, mostly holding steady through 2016 but then dropping more considerably through 2021, ending up at around 1.76%. This could hint at broader economic shifts, such as increasing operational costs or market consolidation, impacting smaller or less profitable farms. Potential investors, builders, or those considering relocation might find these trends significant as they may reflect changing agricultural dynamics and economic health in the area.
Number of Mortgages by Occupancy Type in Franklin County, PA Over the Last 5 Years in Franklin County
The mortgage trends in Franklin County, Pennsylvania, reveal principal residences dominating the market, with a notable dip in 2022 compared to previous years. Investment properties and second residences represent a significantly smaller share but show a slight upward trajectory until 2021. These shifts can indicate changing affordability and desirability of primary homes, affect demand for rental properties, and influence market stability. For investors and real estate agents, the dominance of principal residences suggests a stable demand for long-term housing. Appraisers and insurance agents should watch these dynamics, as they affect property valuations and risk assessments. Understanding these patterns is crucial for anyone considering property investments, developments, or relocations in Franklin County.
Economic Outlook
In Franklin County, Pennsylvania, the average taxable income per tax return has steadily grown from $51,157.67 in 2013 to $68,178.62 in 2021. Coupled with a rise in average state and local income taxes from $4,457.05 in 2012 to $8,937.73 in 2021, this trend indicates possible economic growth and increasing fiscal responsibilities. This evolving economic landscape suggests potential changes in the real estate market, influencing property values and investment attractiveness. Yet, the increased... Read more
Average Taxable Income per Tax Return in Franklin County, PA over the last 9 years
Over the past nine years, Franklin County, Pennsylvania has seen a steady increase in average taxable income per tax return, rising from approximately $51,157.67 in 2013 to around $68,178.62 in 2021. This upward trend could suggest a strengthening local economy, potentially making the area more attractive to potential investors, new residents, and real estate professionals. However, those engaged in appraisals or property building might want to consider this income trajectory when evaluating market conditions and future property values.
Average State and Local Income Taxes Per Tax Return in Franklin County, PA Over the Last 10 Years
Over the past decade, Franklin County, Pennsylvania has seen a noteworthy increase in average state and local income taxes per tax return, jumping from around $4,457.05 in 2012 to approximately $8,937.73 by 2021. This trend may suggest a growing economic burden on residents, which could impact decisions for potential investors, homebuyers, and local businesses. Real estate agents, appraisers, and those considering building new properties might find this trend indicative of an evolving fiscal environment that could influence property values and tax liabilities.
Average Total Tax Liability Per Tax Return in Franklin County, PA Over the Last 10 Years
Over the past decade, Franklin County, Pennsylvania, has seen a rising trend in the average total tax liability per tax return. Starting at $7,052.86 in 2012, it gradually climbed to $9,760.36 by 2021, displaying a consistent upward movement. This notable increase suggests a potentially expanding economic base or rising incomes, possibly impacting real estate markets, insurance premiums, and investment opportunities. Individuals looking to move or invest in the area might need to consider this financial trajectory as part of their long-term planning.
Cost of Living in Franklin County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,393 | $1,460 | $1,876 | $1,648 | $1,430 |
| 1 adult 4 children | $1,393 | $1,192 | $1,441 | $1,648 | $1,526 |
| 2 adults 3 children | $1,393 | $1,193 | $1,624 | $1,648 | $1,184 |
| 1 adult 3 children | $1,393 | $974 | $1,190 | $1,648 | $1,284 |
| 2 adults 2 children | $1,030 | $976 | $1,372 | $1,435 | $960 |
| 1 adult 2 children | $1,030 | $729 | $938 | $1,435 | $943 |
| 2 adults 1 child | $1,030 | $772 | $1,120 | $743 | $858 |
| 1 adult 1 child | $1,030 | $498 | $686 | $743 | $725 |
| 2 adults | $805 | $620 | $869 | $0 | $677 |
| 1 adult | $800 | $338 | $434 | $0 | $564 |
Safety trends & Data
Franklin County, Pennsylvania's real estate market may have been influenced by shifting property crime trends. Over the past five years, burglary cases plummeted from 139.00 in 2018 to just 28.00 in 2022, which could suggest safer neighborhoods for residents. Larceny-theft saw an overall decrease, with a notable uptick to 304.00 incidents in 2022. Vandalism has remained steady around 80.00 incidents. Reduced occurrences of arson and embezzlement could reflect effective community measures. These... Read more
Property Crime Trends in Franklin County, PA Over the Last 5 Years
Over the last five years, Franklin County, Pennsylvania has seen a notable decline in several key property crimes, particularly burglary and larceny-theft. Burglary cases dropped significantly from 139.00 in 2018 to 28.00 by 2022, marking a potential reduction in break-ins and forced entries. Larceny-theft, although fluctuating, also saw a general decrease but surged again to 304.00 incidents in 2022. The persistence of vandalism and fraud highlights areas of ongoing concern, with vandalism incidents remaining relatively stable around the 80.00 mark. On the flip side, less frequent crimes like arson and embezzlement are on a downward trend, possibly reflecting effective law enforcement or community vigilance. These patterns could influence property insurance rates and real estate values, making Franklin County an intriguing case for investors and prospective homeowners.
Demographics
In Franklin County, Pennsylvania, the adult population is almost evenly split between males and females, with females making up a slight majority. The county shows a substantial portion of its population as high school graduates or having some college experience, while a smaller percentage hold bachelor's or graduate degrees. The age distribution emphasizes a higher concentration of residents in the 45 to 64 age bracket, indicating a mature demographic. The racial makeup is predominantly White,... Read more
Race Distribution in Franklin County, Pennsylvania (2022)
Educational Attainment in Franklin County, Pennsylvania (2022)
Age Distribution in Franklin County, Pennsylvania
Citizen Population in Franklin County, Pennsylvania (2022)
Political Trends & Data
Franklin County, Pennsylvania, potentially showed a strong lean towards the Republican party in the 2020 U.S. Presidential Election, with an estimated 71.00% of the votes. The Democratic party might have garnered around 28.00%, suggesting a notably smaller but still significant base. Libertarians made a minor impact with roughly 1.40% of the votes. These numbers hint at a predominantly conservative electorate with limited third-party influence in this... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Franklin County, Pennsylvania, potentially showed a strong lean towards the Republican party in the 2020 U.S. Presidential Election, with an estimated 71% of the votes. The Democratic party might have garnered around 28%, suggesting a notably smaller but still significant base. Libertarians made a minor impact with roughly 1.4% of the votes, while other parties, including the Green party, possibly had minimal to no presence. These numbers hint at a predominantly conservative electorate with limited third-party influence in this region.
70.86% of voters voted for the Republican party in the 2020 Presidential Election
27.76% 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
Franklin County, Pennsylvania, has had fluctuating student-to-teacher ratios over the past decade, ranging from a peak of 16 in 2017 and 2021 to a recent average of 14, aligning closely with the national average. These shifts in class size could influence educational quality, property values, and family relocation decisions. Smaller class sizes often lead to more personalized instruction and better student outcomes, potentially boosting the area's appeal for residents and investors. Real estate... Read more
Student-to-teacher ratio in Franklin County, Pennsylvania over the last 10 years
Franklin County, Pennsylvania, has seen fluctuations in its student-to-teacher ratio over the past decade, peaking at 16 in 2017 and 2021 while dipping to approximately 14 in more recent years. With a current average of 14 students per teacher, the county's ratio now aligns closely with the national average. These changes in class size could impact educational quality, property values, and family decisions about relocating, as smaller class sizes often lead to more personalized instruction and better student outcomes, which in turn might make the area more attractive to potential residents and investors. Real estate agents and appraisors might see varying demand corresponding to these educational metrics, while insurance agents might use this data to assess community risk profiles dynamically.
