Somerset County Real Estate and Livability Trends
Somerset County, Pennsylvania, has seen a steady rise in average taxable income from $44,637.93 in 2013 to $60,168.26 by 2021, reflecting potential economic growth. However, state and local taxes doubled in the same period, reaching $11,438.10, which could influence housing affordability. Median home values have climbed to $124,500 in 2022, still well below state and national medians. The county... Read more
Somerset County Market Trends
Somerset County's median home values have been increasing from $98,800 in 2015 to $124,500 in 2022, yet remain significantly below Pennsylvania’s average of $226,200 and the national median of $179,400. There's also been a notable peak in residential energy tax credits at $3,080.00 in 2018, suggesting substantial investment in energy-efficient home improvements. Real estate taxes have surged... Read more
Median Value of Occupied Housing Units in Somerset County, Pennsylvania Over the Last 8 Years
Somerset County's median home values have been steadily trending upward from $98,800 in 2015 to $124,500 by 2022. While encouraging for local homeowners, these values still fall significantly below Pennsylvania’s state average, which reached $226,200 in 2022. It also lags behind the national median, which spiked to $179,400 in the same year. For those looking to invest in real estate or move to Somerset County, these relatively lower median values may present a more affordable entry point compared to broader state and national figures.
Residential Energy Tax Credit Per Tax Return in Somerset County, PA Over the Last 9 Years
Somerset County, Pennsylvania has shown a notable increase in the average residential energy tax credit per tax return over the past nine years, peaking sharply in 2018 at $3,080.00. This spike suggests a significant investment in energy-efficient home improvements. While the numbers dipped in subsequent years, they still generally remained above the earlier half of the decade’s averages, reflecting a continued interest in or incentive for energy-efficient upgrades. This trend could be compelling for potential investors and homeowners seeking long-term cost savings, as well as for insurance agents and appraisers needing to account for property values influenced by energy-efficient modifications.
Average Real Estate Taxes Per Tax Return in Somerset County, PA Over the Last 10 Years
Real estate taxes in Somerset County, Pennsylvania, have shown a notable increase over the past decade, almost doubling from approximately $2,726.72 in 2012 to $5,134.92 in 2021. Sharp increases were particularly evident between 2016 and 2018, with a significant jump to $4,913.75 in 2018. This upward trend may affect property valuations, insurance premiums, and the cost of homeownership, making it essential for potential buyers, real estate investors, and current residents to factor these rising costs into their financial planning.
Percentage of Farm Returns in Somerset County, PA Over the Last 10 Years
Over the past decade, the percentage of farm tax returns in Somerset County, Pennsylvania has wavered slightly, generally hovering around 2.60%. Farm tax returns indicate the proportion of income tax filings dedicated to agricultural businesses, which can be a useful metric for gauging the health and prevalence of farming in the area. Farming appears to be relatively stable here, with only minor fluctuations suggesting a consistent agricultural presence. This trend might interest potential investors or residents considering agricultural investments or property development in Somerset County.
Number of Mortgages by Occupancy Type in Somerset County, PA Over the Last 5 Years in Somerset County
The mortgage trends in Somerset County, Pennsylvania, over the past five years show a steady prevalence of principal residences with numbers peaking in 2021 at 2,831 before slightly declining. The volume of mortgages for second residences had the highest count in 2020 at 435, suggesting interest in vacation or secondary homes during that period. Investment properties remained relatively stable with minor fluctuations, indicating a consistent yet lower level of activity compared to other occupancy types. These shifts might point to changing preferences and economic factors influencing living arrangements and investment priorities, which could be crucial for potential investors, real estate agents, and policymakers to consider. Understanding these patterns helps in assessing market demand, risk exposure for insurance, and planning for property development or appraisals.
Economic Outlook
Somerset County, Pennsylvania, has experienced a consistent rise in average taxable income per tax return, climbing from about $44,637.93 in 2013 to approximately $60,168.26 by 2021. This trend suggests a potentially strengthening local economy, making the area appealing for real estate investors and new residents seeking stable income prospects. Over the same period, average state and local income taxes per tax return have surged from around $5,363.69 to $11,438.10, reflecting either economic... Read more
Average Taxable Income per Tax Return in Somerset County, PA over the last 9 years
Average taxable income per tax return in Somerset County, Pennsylvania has generally trended upward over the last 9 years, starting at approximately $44,637.93 in 2013 and reaching around $60,168.26 by 2021. This steady increase may suggest a growing local economy and potentially higher earning opportunities, making it a promising area for real estate investment and new residents seeking stable income potential. This data is particularly relevant for appraisers, insurance agents, and property developers assessing the financial health and attractiveness of the region.
Average State and Local Income Taxes Per Tax Return in Somerset County, PA Over the Last 10 Years
Somerset County, Pennsylvania has seen a significant rise in average state and local income taxes per tax return over the past decade, starting from around $5,363.69 in 2012 to $11,438.10 in 2021. The most notable jumps occurred between 2017 and 2018 and again from 2019 to 2020, indicating potential economic changes or policy shifts. This can have several implications for investors, real estate agents, and those considering a move to the area, as higher taxes might reflect increasing property values or income levels, yet also suggest a higher cost of living.
Average Total Tax Liability Per Tax Return in Somerset County, PA Over the Last 10 Years
The average total tax liability per tax return in Somerset County, Pennsylvania, has shown a general upward trajectory over the past decade. Notable fluctuations include a dip in 2013 to $6,296.21 and a substantial increase in 2021 reaching $8,435.23. These trends potentially reflect broader economic factors or policy changes impacting local taxpayers. This information might be particularly relevant for prospective investors, homeowners, and real estate professionals aiming to understand the local economic climate.
Cost of Living in Somerset County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,116 | $1,408 | $1,356 | $1,301 | $977 |
| 1 adult 4 children | $1,116 | $1,149 | $1,031 | $1,301 | $1,063 |
| 2 adults 3 children | $1,116 | $1,150 | $1,180 | $1,301 | $813 |
| 1 adult 3 children | $1,116 | $939 | $854 | $1,301 | $858 |
| 2 adults 2 children | $821 | $941 | $1,004 | $1,127 | $716 |
| 1 adult 2 children | $821 | $703 | $678 | $1,127 | $632 |
| 2 adults 1 child | $821 | $744 | $828 | $564 | $653 |
| 1 adult 1 child | $821 | $481 | $502 | $564 | $551 |
| 2 adults | $703 | $598 | $651 | $0 | $574 |
| 1 adult | $699 | $326 | $326 | $0 | $508 |
Safety trends & Data
Somerset County, Pennsylvania, has seen significant fluctuations in property crime, with a notable drop in larceny-theft from 185 cases in 2019 to just 24 in 2020. Interestingly, this trend reversed in 2022 with burglary incidents jumping to 56 cases. This inconsistency in crime rates makes safety a key factor for real estate investors and community planners in the... Read more
Property Crime Trends in Somerset County, PA Over the Last 5 Years
Somerset County, Pennsylvania, has experienced considerable fluctuations in property crime over the last five years. Notably, there was a stark decline in overall property offenses in 2020, with only 24 instances of larceny-theft compared to 185 in 2019. However, 2022 saw a resurgence in certain crimes, such as burglary, which spiked to 56 cases. This variability suggests ongoing challenges in maintaining consistent safety in the region, making it a crucial consideration for real estate investments and community planning.
Demographics
Somerset County, Pennsylvania shows a slightly higher male population versus female, which could subtly impact community dynamics such as employment and housing. Educational attainment rates suggest a strong presence of high school graduates, though fewer residents might pursue higher education degrees compared to larger metro areas. Notably, there's a significant cohort in the 55 to 64 age group, hinting at a potentially aging population which may influence healthcare and local services.... Read more
Race Distribution in Somerset County, Pennsylvania (2022)
Educational Attainment in Somerset County, Pennsylvania (2022)
Age Distribution in Somerset County, Pennsylvania
Citizen Population in Somerset County, Pennsylvania (2022)
Political Trends & Data
Somerset County, Pennsylvania, displays a strong conservative preference with about 78% of the 2020 U.S. Presidential Election vote going to the Republican Party. The Democratic Party garnered just over 21% of the votes, while Libertarian support was minimal at roughly 1%. This pattern signals a predominantly conservative voter base, suggesting wider regional political inclinations that may influence local policies and community... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Somerset County, Pennsylvania, the 2020 U.S. Presidential Election results reflect a strong leaning toward the Republican Party, with approximately 78% of the vote. The Democratic Party trailed significantly, capturing just over 21% of the vote. Libertarian support was minimal, accounting for about 1% of the total votes, and there was negligible or no representation from the Green Party or other parties. This trend suggests a predominantly conservative voter base in the county and might be indicative of wider regional political inclinations.
77.61% of voters voted for the Republican party in the 2020 Presidential Election
21.35% of voters voted for the Democrat party in the 2020 Presidential Election
1.04% of voters voted for the Livertarian party in the 2020 Presidential Election
School Data
Somerset County, Pennsylvania has experienced a steady decline in its student-to-teacher ratio over the last decade, dropping from about 13 students per teacher in 2014 to just over 11 in 2023. This trend puts the county below the national average of 14 students per teacher and suggests smaller class sizes and more individualized student attention. For real estate professionals, this shift could serve as an attractive selling point. Educational insurers and property investors may also find... Read more
Student-to-teacher ratio in Somerset County, Pennsylvania over the last 10 years
Over the last decade, Somerset County, Pennsylvania has seen a steady decrease in its student-to-teacher ratio, dropping from approximately thirteen students per teacher in 2014 to just over eleven students per teacher in 2023. This trend places Somerset County below the national average of fourteen students per teacher. Such a shift potentially indicates smaller class sizes and more individualized attention for students, which might interest families considering relocation. For real estate agents and appraisers, this trend can be an attractive selling point. Similarly, educational insurers and property investors might find these figures useful for assessing risk and planning future developments in the area.
