Venango County Real Estate and Livability Trends
Venango County, Pennsylvania is seeing a marked economic uptrend with average taxable income rising to $58,730.32 in 2021 from $43,978.52 in 2013. Concurrently, real estate trends show that median home values have increased to $108,500 in 2022, reflecting substantial yet still below state median prices. Besides, fluctuations in energy tax credits suggest a budding interest in energy efficiency.... Read more
Venango County Market Trends
Venango County, Pennsylvania has experienced a consistent rise in median home values, reaching $108,500 in 2022 from $81,200 in 2015, yet this remains well below the state median of $226,200. Residential energy tax credits have fluctuated significantly, peaking at $856.52 in 2020, hinting at growing interest in energy-efficient upgrades. Real estate taxes have also increased noticeably, with a... Read more
Median Value of Occupied Housing Units in Venango County, Pennsylvania Over the Last 8 Years
Venango County, Pennsylvania, has seen a steady rise in median home values over the past eight years, with the 2022 value reaching $108,500, up from $81,200 in 2015. This growth, although consistent, remains significantly below the state median of $226,200 and the national median of $179,400 for the same year. The county's housing market could potentially offer more affordable options for investors or homebuyers compared to other regions across both Pennsylvania and the United States.
Residential Energy Tax Credit Per Tax Return in Venango County, PA Over the Last 8 Years
Residential energy tax credits in Venango County, Pennsylvania have shown notable variability over the past eight years, with average values fluctuating from a low of $230.61 in 2014 to a peak of $856.52 in 2020. Particularly sharp increases between 2017 and 2019 suggest a growing emphasis on energy-efficient improvements amongst homeowners. This could indicate emerging investment opportunities in energy-efficient home upgrades and renewable energy systems, potentially making the county more attractive for new residents and real estate investors focused on sustainable living.
Average Real Estate Taxes Per Tax Return in Venango County, PA Over the Last 10 Years
Over the past decade, Venango County, Pennsylvania has seen a noticeable rise in average real estate taxes per tax return, beginning at around $2,893.44 in 2012 and peaking at approximately $4,767.57 in 2020. This increase could signal upward pressure on property values or adjustments in tax rates, making it a key consideration for investors, potential homeowners, appraisers, and real estate professionals. Notably, a significant jump occurred between 2017 and 2018, rising from $3,466.67 to $4,223.91, which could merit closer examination for those interested in the area's fiscal trends.
Percentage of Farm Returns in Venango County, PA Over the Last 10 Years
The percentage of farm tax returns in Venango County, Pennsylvania has shown slight fluctuations over the last decade, generally hovering around 1.10%. These variations are modest, indicating a relatively stable agricultural presence in the region. Farm tax returns, which document income and expenses specifically related to farming operations, serve as an indicator of the economic activity and viability of farms in this area. This stability might be appealing for those interested in investing in agriculture, moving to rural areas, or building property in Venango County due to the consistent farming economy.
Number of Mortgages by Occupancy Type in Venango County, PA Over the Last 5 Years in Venango County
Over the past five years in Venango County, Pennsylvania, there has been a noticeable increase in mortgage counts for both investment properties and principal residences, with a sharp rise seen from 2019 to 2021 for primary homes. Investment properties saw a steady, though less dramatic, growth. While second residence mortgages remained relatively stable, hovering around the same values each year. For investors and real estate agents, these shifts suggest a potential uptick in market interest and activity within the county, possibly influenced by broader economic or local developments. For appraisors and insurance agents, the ratio of principal residences to investment properties highlights a strong homeownership presence that could affect property valuations and insurance risk assessments. Those looking to build or move should keep an eye on how these trends may impact housing demand and neighborhood dynamics.
Economic Outlook
Venango County, Pennsylvania exhibits a steady economic improvement, reflected in the average taxable income rising from $43,978.52 in 2013 to $58,730.32 in 2021. Concurrently, average state and local income taxes per tax return jumped from $4,756.63 in 2012 to $9,162.50 in 2021. This uptick in taxes, peaking at $9,651.52 in 2020, combined with the rise in total tax liability from $6,870.07 in 2012 to $8,653.21 in 2021, likely impacts property values and the overall cost of living. This... Read more
Average Taxable Income per Tax Return in Venango County, PA over the last 9 years
Venango County, Pennsylvania showcases a consistent increase in average taxable income over nine years, moving from $43,978.52 in 2013 to $58,730.32 in 2021. The steady rise, especially the notable jump between 2017 and 2018, suggests underlying economic improvements or changing demographics. This trend can indicate a healthier economic environment and may affect property values, insurance premiums, and investment opportunities, making it an attractive region for various stakeholders.
Average State and Local Income Taxes Per Tax Return in Venango County, PA Over the Last 10 Years
In Venango County, Pennsylvania, the average state and local income taxes per tax return have shown a notable increase over the last decade. Starting at around $4,756.63 in 2012, these taxes have surged to $9,162.50 by 2021. This considerable rise particularly spiked between 2017 and 2020, reaching a peak of $9,651.52 in 2020. Such a trend likely impacts the financial planning of residents and might influence potential investors or those contemplating relocation. Real estate professionals, appraisers, and insurance agents might also find this information essential when assessing property values and the associated costs of living in the area.
Average Total Tax Liability Per Tax Return in Venango County, PA Over the Last 10 Years
Over the past decade in Venango County, Pennsylvania, the average total tax liability per tax return has shown notable fluctuations. While there was a dip from $6,870.07 in 2012 to $6,465.15 in 2013, recent years have seen a significant rise, reaching $8,653.21 in 2021. This general upward trend, especially the jump in 2021, might indicate increasing property values or changes in income levels, making it a critical factor for potential investors, homeowners, or real estate agents to consider.
Cost of Living in Venango County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,024 | $1,424 | $1,356 | $1,537 | $1,010 |
| 1 adult 4 children | $1,024 | $1,163 | $1,031 | $1,537 | $1,101 |
| 2 adults 3 children | $1,024 | $1,163 | $1,180 | $1,537 | $839 |
| 1 adult 3 children | $1,024 | $949 | $854 | $1,537 | $897 |
| 2 adults 2 children | $821 | $952 | $1,004 | $1,332 | $764 |
| 1 adult 2 children | $821 | $711 | $678 | $1,332 | $693 |
| 2 adults 1 child | $821 | $752 | $828 | $666 | $676 |
| 1 adult 1 child | $821 | $486 | $502 | $666 | $574 |
| 2 adults | $651 | $604 | $651 | $0 | $557 |
| 1 adult | $549 | $330 | $326 | $0 | $461 |
Safety trends & Data
Venango County, Pennsylvania has seen notable fluctuations in property crime over the past five years. Larceny-theft peaked at 132 incidents in 2019 but dropped to 15 in 2021. Burglary incidents spiked to 29 in 2022, against a downward trend, while vandalism cases surged to 42 in 2022 after an initial decline. Motor vehicle thefts remained low with minor variations, and no clear pattern emerged for fraud and embezzlement. These varied crime rates are crucial for stakeholders assessing safety... Read more
Property Crime Trends in Venango County, PA Over the Last 5 Years
Observing property crime trends in Venango County, Pennsylvania over the past five years, notable fluctuations are evident, particularly in larceny-theft, which peaked at 132 reported incidents in 2019 before dropping significantly to 15 in 2021. Burglary incidents varied but saw a significant spike to 29 in 2022, countering the mid-decade downward trend. Interestingly, vandalism cases, after an initial decline, surged to 42 in 2022. Motor vehicle thefts remained relatively low with minor fluctuations, while fraud and embezzlement incidents showed no clear pattern. These varied crime rates provide critical insights for stakeholders evaluating safety and property investments in the region.
Demographics
Venango County, Pennsylvania shows a male and female population that's nearly balanced. Educational attainment highlights a significant portion of the population holding just a high school diploma, with relatively fewer individuals achieving higher education levels such as bachelor's or graduate degrees. The age distribution suggests a notable concentration of residents aged 55 to 74, pointing to an aging population. The racial composition is predominantly White, with very small communities of... Read more
Race Distribution in Venango County, Pennsylvania (2022)
Educational Attainment in Venango County, Pennsylvania (2022)
Age Distribution in Venango County, Pennsylvania
Citizen Population in Venango County, Pennsylvania (2022)
Political Trends & Data
Venango County, Pennsylvania, shows a notable Republican preference in the 2020 U.S. Presidential Election, capturing about 70% of the vote compared to the Democrats' 29%. Libertarian support was minimal at roughly 1.4%, with negligible backing for the Green Party. This significant conservative lean may imply that emerging parties face considerable challenges in gaining influence in this... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Venango County, Pennsylvania, suggests a significant Republican lean in the 2020 U.S. Presidential Election with roughly 70% of the vote, while Democrats garnered around 29%. Libertarian support appears minimal at approximately 1.4%, and there was no noteworthy backing for the Green Party. This trend might indicate a strong conservative presence and a potential challenge for lesser-known parties to gain traction in this area.
70.00% of voters voted for the Republican party in the 2020 Presidential Election
28.59% of voters voted for the Democrat party in the 2020 Presidential Election
1.41% of voters voted for the Livertarian party in the 2020 Presidential Election
School Data
Venango County, Pennsylvania's declining student-to-teacher ratio—dropping from over 13 in 2014 to about 11 in 2023—might indicate a more family-friendly environment, potentially boosting property values. This trend could be a key selling point for real estate, given the national average is 14 students per teacher. Smaller class sizes can suggest more personalized education, appealing to homebuyers with children and impacting property appraisals and neighborhood... Read more
Student-to-teacher ratio in Venango County, Pennsylvania over the last 10 years
Venango County, Pennsylvania has seen a gradual decline in its student-to-teacher ratio over the past ten years, starting at just over 13 students per teacher in 2014 and dropping to about 11 in 2023. This trend of smaller class sizes might appeal to potential homebuyers with children, as lower ratios often suggest more personalized attention in education. For investors and real estate agents, this changing dynamic could indicate a more family-friendly environment, potentially boosting property values. The current ratio is lower than the national average of 14, which might be an additional selling point for the area. This trend is also relevant for appraisers and insurance agents, as better educational factors can contribute to overall neighborhood desirability and impact property appraisals and insurance policies.
