Philadelphia County Real Estate and Livability Trends
Philadelphia County, Pennsylvania has observed a rise in average taxable income per tax return from $45,577.17 to $66,147.24 over the past nine years, hinting at improving economic conditions and potential inflows of higher-income residents. Median home values have climbed to $215,500 in 2022, suggesting significant appreciation potential, although property taxes have surged from $2,558.23 in... Read more
Philadelphia County Market Trends
Philadelphia County, Pennsylvania has seen a steady rise in median home values, reaching $215,500 in 2022, outpacing the national median but lagging slightly behind the state's median of $226,200. This suggests substantial appreciation potential, making it an attractive market for homeowners and investors. The average residential energy tax credit per tax return has fluctuated significantly,... Read more
Median Value of Occupied Housing Units in Philadelphia County, Pennsylvania Over the Last 8 Years
Philadelphia County, Pennsylvania has seen a steady rise in median home values over the last eight years, reaching $215,500 in 2022. This growth outpaces the national median, which was $179,400 in the same year, though it still trails behind the state of Pennsylvania's median value of $226,200. For those considering real estate investments, this trend suggests a robust appreciation in property values in Philadelphia County, potentially offering substantial returns. This comparison highlights Philadelphia County's unique growth trajectory against both state and national figures, making it a compelling market for homeowners and investors alike.
Residential Energy Tax Credit Per Tax Return in Philadelphia County, PA Over the Last 9 Years
Philadelphia County, Pennsylvania has seen a remarkable fluctuation in the average residential energy tax credit per tax return over the past nine years. Starting at approximately $400.40 in 2013, it experienced peaks and troughs, hitting a high point of roughly $1,689.53 in 2018 before declining to around $901.89 in 2021. This variability could suggest changes in energy efficiency initiatives, residential investments in energy-saving technologies, or shifts in government policy affecting tax credits. For investors, real estate agents, and insurance agents, understanding these trends might help in assessing the readiness of properties for energy-efficient upgrades or the potential for future tax savings. For those considering a move, it indicates a community that is potentially responsive to energy efficiency incentives.
Average Real Estate Taxes Per Tax Return in Philadelphia County, PA Over the Last 10 Years
In Philadelphia County, Pennsylvania, real estate taxes per tax return have seen a notable increase over the last decade. Climbing from approximately $2,558.23 in 2012 to around $4,812.12 in 2021, this upward trend could be of interest to potential investors, appraisers, insurance agents, and real estate professionals. The consistent rise suggests a likely increase in property values, which might be appealing for those looking to invest or relocate. Additionally, this surge in tax values could impact housing affordability and insurance rates, making it a crucial factor for residents and prospective buyers to consider.
Percentage of Farm Returns in Philadelphia County, PA Over the Last 10 Years
Farm returns in Philadelphia County, Pennsylvania have been on a slow but steady decline over the past decade, dropping from a peak of about 0.0136% in 2012 to roughly 0.0072% in 2021. Farm tax returns, which are submitted by those involved in agricultural activities to report income and claim deductions, appear to be shrinking, indicating a possible decrease in farming operations or profitability in the area. For potential investors or those looking to build property, this trend might suggest limited agricultural activity and potential opportunities for land repurposing or development. Additionally, existing residents and those interested in moving to Philadelphia County might view this data as an indicator of evolving land use and economic focus in the region.
Number of Mortgages by Occupancy Type in Philadelphia County, PA Over the Last 5 Years in Philadelphia County
Over the past five years in Philadelphia County, Pennsylvania, the number of mortgages for principal residences has fluctuated but generally remained significantly higher than those for investment and second residences. Particularly in 2021, mortgages for principal residences reached 75,339 compared to 11,126 for investment properties and just 1,042 for second residences in 2022. These trends can be insightful for investors, real estate agents, and individuals considering moving to the area as they indicate a robust demand for primary living spaces, which likely reflects on rental yields, property values, and market stability. Shifts in these occupancy types might influence appraisors and insurance agents by altering risk assessments and valuation metrics, considering varying degrees of occupancy affect wear and tear, liability, and maintenance needs.
Economic Outlook
Over the past nine years, Philadelphia County, Pennsylvania has seen average taxable income per tax return increase from $45,577.17 to $66,147.24, suggesting improving economic conditions or possible influxes of higher-income residents. This growth could signal promising economic stability for potential investors and homebuyers. Meanwhile, state and local income taxes have nearly doubled over the last decade, reaching $15,085.92 by 2021, indicating rising costs that might impact financial... Read more
Average Taxable Income per Tax Return in Philadelphia County, PA over the last 9 years
Over the past nine years, average taxable income per tax return in Philadelphia County, Pennsylvania has shown a generally upward trend, increasing from $45,577.17 in 2013 to $66,147.24 in 2021. This steady growth, particularly the significant jump between 2020 and 2021, could indicate strengthening economic conditions and potentially a rise in higher-income individuals or better job opportunities in the area. For those looking to invest in or move to Philadelphia County, this consistent increase may suggest potential for economic stability and growth. Appraisers and real estate agents might find this data useful in understanding property value trends, while insurance agents can gauge potential shifts in client demographics and income levels.
Average State and Local Income Taxes Per Tax Return in Philadelphia County, PA Over the Last 10 Years
Over the last decade, average state and local income taxes per tax return in Philadelphia County, Pennsylvania have shown a notable upward trend. Starting at $6,971.72 in 2012, these taxes saw a steady increase, reaching a significant peak of $15,085.92 by 2021. Particularly eye-catching are the jumps from $8,680.09 in 2017 to $11,823.76 in 2018, and again from $12,710.93 in 2020 to $15,085.92 in 2021. This rise may reflect economic shifts, policy changes, or evolving demographic factors. Potential investors, real estate professionals, and residents might find this trend indicative of rising costs and should consider it when making financial or relocation decisions.
Average Total Tax Liability Per Tax Return in Philadelphia County, PA Over the Last 10 Years
Over the past decade, Philadelphia County, Pennsylvania has seen a noticeable increase in the average total tax liability per tax return. Starting at $7,658.13 in 2012, there has been a general upward trend, reaching a peak of $11,392.41 in 2021. This trend could suggest an increasing tax burden for residents, which may be a critical factor for potential investors, real estate agents, and insurance agents to consider. The sharp rise in liability in 2021 is particularly notable and may warrant closer examination for economic shifts or policy changes influencing the area.
Cost of Living in Philadelphia County
Family Size | Housing | Food | Heath Care | Child Care | Taxes |
---|---|---|---|---|---|
2 adults 4 children | $1,663 | $1,657 | $1,570 | $2,020 | $1,472 |
1 adult 4 children | $1,663 | $1,353 | $1,205 | $2,020 | $1,603 |
2 adults 3 children | $1,663 | $1,354 | $1,360 | $2,020 | $1,253 |
1 adult 3 children | $1,663 | $1,105 | $995 | $2,020 | $1,375 |
2 adults 2 children | $1,366 | $1,108 | $1,150 | $1,768 | $1,029 |
1 adult 2 children | $1,366 | $828 | $785 | $1,768 | $1,045 |
2 adults 1 child | $1,366 | $876 | $940 | $948 | $898 |
1 adult 1 child | $1,366 | $566 | $575 | $948 | $774 |
2 adults | $1,132 | $703 | $730 | $0 | $681 |
1 adult | $1,005 | $384 | $365 | $0 | $562 |
Safety trends & Data
Philadelphia County, Pennsylvania has experienced notable fluctuations in property crime over the past five years, with larceny-theft peaking at 4,066 in 2018 before dropping to 2,076 in 2022. Burglary rates showed a significant decline from 995 in 2018 to 471 in 2021, slightly increasing to 673 in 2022. Motor vehicle thefts have remained steady at around 1,000 cases annually. Fraud incidents dropped dramatically from 2,074 in 2018 to just 81 by 2022. These crime trends offer essential insights... Read more
Property Crime Trends in Philadelphia County, PA Over the Last 5 Years
Philadelphia County, Pennsylvania has seen fluctuating trends in property crimes over the past five years. Larceny-theft consistently records higher numbers, peaking at 4,066 occurrences in 2018 before dropping substantially to around 1,257 in 2021 and then slightly increasing to 2,076 in 2022. Burglary rates also show a significant drop from 995 in 2018 to 471 in 2021, but they increased to 673 in 2022. Motor vehicle theft has maintained somewhat steady numbers, hovering around 1,000 cases annually. Interestingly, fraud saw a dramatic decrease from 2,074 incidents in 2018 to just 81 by 2022. Arson, though relatively low in number, varied between 49 and 87 cases annually. These crime trends can offer potential investors, real estate agents, and insurance professionals crucial insights into the evolving risks and security landscape in the area.
Demographics
Philadelphia County, Pennsylvania, shows a noticeable gender imbalance with a higher female population. Educational attainment data indicates diverse levels, with a significant portion of the population having only a high school diploma. The age distribution reveals a substantial young adult demographic, particularly those aged 25 to 34 years, which might reflect the city's appeal to young professionals. Racial diversity is apparent, with the Black or African American population slightly... Read more
Race Distribution in Philadelphia County, Pennsylvania (2022)
Educational Attainment in Philadelphia County, Pennsylvania (2022)
Age Distribution in Philadelphia County, Pennsylvania
Citizen Population in Philadelphia County, Pennsylvania (2022)
Political Trends & Data
Philadelphia County, Pennsylvania, demonstrated a strong Democratic preference in the 2020 U.S. Presidential Election, with the Democratic candidate potentially securing over 81% of the vote. The Republican support may have been less than 18%, and Libertarian votes were minimal at around 0.65%. This trend underscores the county's alignment with broader urban voting patterns, emphasizing its political leanings and potential influence on local policy and... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Philadelphia County, Pennsylvania, voting trends from the 2020 U.S. Presidential Election show an overwhelming preference for the Democratic candidate, with the vote percentage possibly exceeding 81%, compared to the Republican share which might be less than 18%. Libertarian votes appear to be minimal, possibly around 0.65%, while there is virtually no support for Green or other parties. This suggests a strong Democratic dominance in the area, reflecting broader urban voting patterns.
17.90% of voters voted for the Republican party in the 2020 Presidential Election
81.44% of voters voted for the Democrat party in the 2020 Presidential Election
0.65% of voters voted for the Livertarian party in the 2020 Presidential Election
School Data
Philadelphia County, Pennsylvania has shown a promising reduction in its student-to-teacher ratio, decreasing from over 21 in 2016 to about 14.6 by 2023, aligning closer to the national average of 14. This trend could signal enhanced educational resources, potentially boosting the area's appeal for families and influencing property values. Investors and developers might see increased demand for family-friendly housing, while insurance agents could factor in these educational improvements when... Read more
Student-to-teacher ratio in Philadelphia County, Pennsylvania over the last 10 years
In the past decade, Philadelphia County, Pennsylvania has seen fluctuations in its student-to-teacher ratio, peaking at over 21 students per teacher in 2016, which may have stretched resources and impacted educational quality. However, recent years have shown a significant improvement, with the ratio dropping to approximately 14.6 in 2022 and 2023, aligning more closely with the national average of 14. This trend suggests potential improvements in educational resources and teacher accessibility, making the area potentially more attractive to families considering moving here, as well as appraisers and real estate agents assessing property values. For investors and developers, these changes could imply an increased demand for family-oriented housing and community services. Insurance agents might also consider the evolving educational landscape when evaluating policy risks and premiums.