Wayne County Real Estate and Livability Trends
Wayne County, Pennsylvania has shown economic growth with average taxable income jumping from $49,009.03 in 2013 to $70,649.57 in 2021. Home values have risen to $211,000 in 2022 but remain below the state average. Increasing property crime rates in 2022, particularly in burglary and larceny-theft, may raise concerns for safety and property values. Real estate taxes have surged from $4,169.37 in... Read more
Wayne County Market Trends
Wayne County, Pennsylvania's median home values have risen from $179,000 in 2015 to $211,000 in 2022 but remain below the state average of $226,200. Residential energy tax credits saw a peak of $2,933.33 in 2018, reflecting potential policy shifts or consumer preferences toward energy-efficient upgrades, with recent figures at $895.12. The average real estate taxes have steadily increased, moving... Read more
Median Value of Occupied Housing Units in Wayne County, Pennsylvania Over the Last 8 Years
Wayne County's median home values have experienced a substantial upward trajectory over the past eight years, culminating in a notable increase from $179,000 in 2015 to $211,000 in 2022. In comparison, Pennsylvania as a whole saw its median home values rise from $166,000 to $226,200 over the same period. Nationally, the median jumped from $125,500 to $179,400. This data suggests that while Wayne County's growth is significant, it still remains below Pennsylvania's state average but well above the national median, potentially making it an attractive option for those seeking more affordable yet appreciating real estate within the state.
Residential Energy Tax Credit Per Tax Return in Wayne County, PA Over the Last 9 Years
Residential energy tax credits in Wayne County, Pennsylvania have seen notable fluctuations over the past nine years, suggesting varying levels of investment and incentives for energy-efficient home improvements. The average residential energy tax credit per tax return peaked remarkably at $2,933.33 in 2018, possibly indicating significant shifts in either policy or consumer behavior. More recent figures show a return to more moderate levels, with $895.12 observed in 2021, still higher than earlier years but much lower than the peak. This trend may be of interest to potential investors, appraisers, and insurance agents, as it can signal changing priorities towards energy efficiency and could influence property values and market dynamics.
Average Real Estate Taxes Per Tax Return in Wayne County, PA Over the Last 10 Years
Over the past decade, average real estate taxes per tax return in Wayne County, Pennsylvania, have shown a general upward trend, moving from $4,169.37 in 2012 to $6,905.41 in 2021. Notably, there was a significant increase between 2017 and 2018, jumping from $5,094.99 to $6,705.11, and continuing to rise until 2020. This consistent increase in real estate taxes could be crucial for potential investors, homebuyers, and real estate agents who need to factor in higher property tax burdens. Additionally, appraisors and insurance agents might find these trends relevant when evaluating property values and calculating premiums.
Percentage of Farm Returns in Wayne County, PA Over the Last 10 Years
The percentage of farm tax returns in Wayne County, Pennsylvania has shown slight fluctuations over the past decade, starting at around 1.69% in 2012 and peaking at approximately 1.78% in 2015, before declining to just above 1.5% in recent years. Farm tax returns are tax filings from agricultural operations, indicating farm activities and financial contribution to the local economy, which can be a marker of rural health and investment potential. This modest but consistent presence suggests a stable agricultural sector, appealing for those considering investment or property development in the county.
Number of Mortgages by Occupancy Type in Wayne County, PA Over the Last 5 Years in Wayne County
Wayne County, Pennsylvania, has seen fluctuations in mortgage trends over the past five years. Mortgages for principal residences are the most common, often indicating a stable housing market. However, the notable increases in second residence mortgages, peaking in 2020 and 2021, might suggest a growing interest in vacation homes or remote work flexibility. Investment properties, while fewer, have shown gradual growth, hinting at potential for rental market expansion. These trends could inform investment strategies, real estate development, and insurance underwriting, highlighting the dynamic shifts in how properties are utilized in the area.
Economic Outlook
Wayne County, Pennsylvania has witnessed a notable rise in average taxable income per tax return, leaping from $49,009.03 in 2013 to $70,649.57 in 2021, which hints at economic growth and potentially increasing property values. This pattern also aligns with a significant uptick in the average total tax liability per tax return, escalating from $7,280.90 in 2012 to $11,152.01 by 2021. Higher state and local income taxes, climbing from $4,177.27 in 2012 to $10,391.75 in 2021, further emphasize... Read more
Average Taxable Income per Tax Return in Wayne County, PA over the last 9 years
Wayne County, Pennsylvania has seen a steady increase in average taxable income per tax return over the past nine years, rising from approximately $49,009.03 in 2013 to around $70,649.57 in 2021. This upward trend suggests economic growth and potentially increasing property values, which might interest investors and real estate agents. For insurers and appraisers, the growing income levels could imply changes in risk assessments and property valuations. Those considering moving to or building in the area could look at these figures as a sign of a stronger local economy and better financial health among residents.
Average State and Local Income Taxes Per Tax Return in Wayne County, PA Over the Last 10 Years
Wayne County, Pennsylvania has seen a notable rise in average state and local income taxes per tax return over the past decade. Starting from $4,177.27 in 2012, there has been a steady increase, reaching $10,391.75 by 2021. This trend could indicate rising incomes or changes in tax rates and structures. This upswing might influence investment and housing decisions while also impacting the cost of living, making it crucial for prospective homeowners, real estate agents, and insurance professionals to monitor the financial landscape closely.
Average Total Tax Liability Per Tax Return in Wayne County, PA Over the Last 10 Years
Wayne County, Pennsylvania, has seen a significant increase in the average total tax liability per tax return over the past decade, moving from roughly $7,280.90 in 2012 to around $11,152.01 by 2021. This upward trend, notably sharp from 2020 to 2021, may indicate economic growth or changes in tax policies. Such information could be valuable for real estate agents, appraisers, and investors as they evaluate the economic health and potential of the area. Furthermore, it could also be crucial for insurance agents and prospective residents who might want to consider these figures when assessing the financial landscape.
Cost of Living in Wayne County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,192 | $1,488 | $1,655 | $1,656 | $1,268 |
| 1 adult 4 children | $1,192 | $1,215 | $1,262 | $1,656 | $1,379 |
| 2 adults 3 children | $1,192 | $1,216 | $1,438 | $1,656 | $1,059 |
| 1 adult 3 children | $1,192 | $992 | $1,045 | $1,656 | $1,146 |
| 2 adults 2 children | $979 | $995 | $1,221 | $1,435 | $920 |
| 1 adult 2 children | $979 | $743 | $828 | $1,435 | $898 |
| 2 adults 1 child | $979 | $786 | $1,004 | $717 | $820 |
| 1 adult 1 child | $979 | $508 | $611 | $717 | $681 |
| 2 adults | $822 | $632 | $787 | $0 | $660 |
| 1 adult | $698 | $345 | $394 | $0 | $534 |
Safety trends & Data
Wayne County, Pennsylvania, has seen fluctuating property crime rates over the past five years, with a sharp rise in burglary rates, peaking at 50 incidents in 2022. Larceny-theft incidents almost doubled from 177 in 2021 to 255 in 2022, while fraud and vandalism also trended upward. This could signal concerns for community safety and property values, making these trends a critical factor for potential investors, property developers, and residents to... Read more
Property Crime Trends in Wayne County, PA Over the Last 5 Years
Wayne County, Pennsylvania, has experienced fluctuating property crime rates over the past five years, with notable increases in specific categories. Burglary rates saw a significant rise in 2021 and 2022, peaking at 50 incidents in 2022. Similarly, larceny-theft incidents spiked considerably between 2021 and 2022, almost doubling from 177 to 255. Fraud and vandalism also showed rising trends, emphasizing the need for potential investors, property developers, and residents to weigh these factors. While the county saw modest activity in arson and motor vehicle theft, the upward trajectory in other property crimes signals potential concerns for community safety and property values.
Demographics
Wayne County, Pennsylvania shows a slightly higher male population compared to female, which may influence local services targeted towards male residents. The region has a significant portion of its adult population as high school graduates, although a smaller segment progresses to college degrees. This could impact workforce qualifications and economic opportunities. Age distribution data suggest an aging population, with a notable number of residents above 55 years, signaling potential demand... Read more
Race Distribution in Wayne County, Pennsylvania (2022)
Educational Attainment in Wayne County, Pennsylvania (2022)
Age Distribution in Wayne County, Pennsylvania
Citizen Population in Wayne County, Pennsylvania (2022)
Political Trends & Data
Wayne County, Pennsylvania, exhibited a notable preference for the Republican party in the 2020 U.S. Presidential Election, with about 66% of voters leaning Republican and around 33% supporting the Democratic party. The Libertarian party saw minimal support, just under 1%. This may hint at a conservative bent among residents, likely influencing local policy preferences and potentially impacting local real estate market... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Wayne County in Pennsylvania showed a significant lean towards the Republican party in the 2020 U.S. Presidential Election, with nearly 66% of the vote. The Democratic party garnered roughly 33%, while the Libertarian party captured just under 1%. This suggests Wayne County's voters might prioritize conservative policies, though further analysis would be needed to draw concrete conclusions.
66.35% of voters voted for the Republican party in the 2020 Presidential Election
32.72% of voters voted for the Democrat party in the 2020 Presidential Election
0.93% of voters voted for the Livertarian party in the 2020 Presidential Election
School Data
Wayne County, Pennsylvania, has maintained a favorable student-to-teacher ratio over the last decade, with values ranging from eleven to twelve students per teacher, compared to the national average of fourteen. This trend indicates a more personalized educational environment, which might appeal to families moving to the area. For real estate investors and agents, this could be a compelling factor in property marketing, potentially leading to higher property values and lower vacancy rates.... Read more
Student-to-teacher ratio in Wayne County, Pennsylvania over the last 10 years
Over the last decade, Wayne County, Pennsylvania, has seen a relatively favorable student-to-teacher ratio compared to the national average of fourteen students per teacher. With values hovering between eleven and twelve students per teacher, this trend indicates a more personalized educational environment, which might be appealing to families considering a move to the area. For investors and real estate agents, this could serve as a compelling factor in property marketing, potentially leading to higher property values and lower vacancy rates. Insurance agents might also find this information useful in assessing risk for properties close to high-quality schools. Despite a small dip to 10.82 in 2022, the ratio remained relatively stable, suggesting consistent educational resources that benefit the county's real estate and overall livability.
