Franklin County Real Estate and Livability Trends
Franklin County, Vermont has seen its median home values soar from $203,000 in 2015 to $263,200 in 2022, indicating a vibrant real estate market that could attract investors. Alongside, average taxable income per tax return grew from $50,470.37 in 2013 to $67,719.47 in 2021, signaling better economic conditions or higher employment rates. The rise in state and local income taxes from $4,422.03 in... Read more
Franklin County Market Trends
Franklin County, Vermont has experienced a robust growth in median home values, rising from $203,000 in 2015 to $263,200 in 2022, outpacing both national and state trends. The residential energy tax credits saw significant peaks in 2017 ($1,835.90) and 2018 ($4,443.75), reflecting possible short-term incentives, before stabilizing around $1,300-$1,400 from 2019 to 2021. Real estate taxes have... Read more
Median Value of Occupied Housing Units in Franklin County, Vermont Over the Last 8 Years
Franklin County, Vermont, has seen consistent growth in median home values over the last eight years, rising from $203,000 in 2015 to $263,200 in 2022. This upward trend outpaces both the national and state figures, which increased from $125,500 to $179,400 and $217,500 to $272,400, respectively, during the same period. This could signal a robust local real estate market, making Franklin County an appealing option for potential investors or those looking to settle in a region with appreciating property values.
Residential Energy Tax Credit Per Tax Return in Franklin County, VT Over the Last 9 Years
Franklin County, Vermont has experienced notable fluctuations in the average residential energy tax credit per tax return over the past nine years. Peaks in 2017 ($1835.90) and especially in 2018 ($4443.75) suggest possible temporary initiatives or incentives that significantly boosted credits during those years. Following this high, the credits decreased, stabilizing around the $1300-$1400 range from 2019 to 2021. This trend may be of particular interest to potential investors, real estate agents, or those planning to build new properties, as it reflects changing support for energy-efficient home improvements, which could impact property values and insurance considerations.
Average Real Estate Taxes Per Tax Return in Franklin County, VT Over the Last 10 Years
Average real estate taxes in Franklin County, Vermont have seen a notable upward trend over the past decade, climbing from $3,617.94 in 2012 to $5,673.74 in 2021. Investors and property builders might find these rising taxes significant when evaluating long-term costs. For real estate agents and appraisers, understanding this trend will be salient for setting realistic property valuations and advising potential buyers. Insurance agents should also stay aware of these changes, as increasing property tax costs could impact clients' overall expenses.
Percentage of Farm Returns in Franklin County, VT Over the Last 10 Years
Over the last decade, the percentage of farm tax returns in Franklin County, Vermont has shown a fairly stable trend, ranging from about 2.35% to 2.12%. These returns offer insight into the agricultural activity in the area and can indicate the stability and productivity of local farming operations. This is particularly relevant for investors, developers, and potential residents as it reflects the health of the agricultural sector, which is key for the local economy. Despite a slight downward shift over recent years, the figures suggest some consistency, hinting at a resilient farming community.
Number of Mortgages by Occupancy Type in Franklin County, VT Over the Last 5 Years in Franklin County
In Franklin County, Vermont, principal residences have consistently dominated the mortgage market over the past five years, reflecting stable demand for primary homes. Investment properties and second residences hold much smaller shares but show some variability, which might indicate shifting priorities among buyers or economic factors influencing investment decisions. These trends reveal valuable insights for those considering various real estate investments or assessing market conditions for valuation or coverage. The prominence of principal residence mortgages suggests strong local demand for homes, which could appeal to developers or agents focusing on family-oriented housing. However, the fluctuations in investment property and second residence mortgages might signal opportunistic buying or tourism-driven interests, crucial for tailoring financial products or services.
Economic Outlook
Franklin County, Vermont has experienced notable growth in average taxable income per tax return, from $50,470.37 in 2013 to $67,719.47 in 2021, which might point to enhanced economic activity or increased employment opportunities. Alongside this income growth, the area has also seen a significant rise in state and local income taxes, climbing from about $4,422.03 in 2012 to $9,689.22 in 2021, suggesting a higher cost of living and potential economic burden for residents. The average total tax... Read more
Average Taxable Income per Tax Return in Franklin County, VT over the last 9 years
Franklin County, Vermont has experienced a steady upward trend in average taxable income per tax return over the past nine years, jumping from $50,470.37 in 2013 to $67,719.47 in 2021. This growth in income might suggest increased economic activity or employment opportunities, potentially making the area more attractive to investors and homebuyers. For real estate agents and appraisers, this could signify a rising demand for properties, which may correlate with higher property values. Insurance agents and developers may also find this data useful for assessing risk and planning new projects in the area.
Average State and Local Income Taxes Per Tax Return in Franklin County, VT Over the Last 10 Years
Over the last decade, Franklin County, Vermont has seen a significant rise in average state and local income taxes per tax return. Taxes increased from about $4,422.03 in 2012 to approximately $9,689.22 in 2021, which might suggest a growing economic burden on residents. Notably, the most significant jump occurred between 2017 and 2018, and the trend continued upward sharply through 2020 and 2021. For potential investors, property developers, or new residents, this trajectory could imply both a potentially healthier economy as well as higher costs of living and doing business in the area.
Average Total Tax Liability Per Tax Return in Franklin County, VT Over the Last 10 Years
Franklin County, Vermont has seen a steady increase in the average total tax liability per tax return over the past decade. Notably, while the 2012 average was approximately $6671.42, it has surged to around $9076.92 by 2021. This hike, specially marked between 2020 and 2021, underscores a potential rise in income levels, property values, or adjustments in tax policies. Real estate agents, appraisers, and potential investors might interpret this trend as indicative of an economically evolving region, possibly reflecting newfound prosperity or heightened property assessments. For those moving in or already residing there, it suggests local fiscal conditions that may impact financial planning.
Cost of Living in Franklin County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,608 | $1,625 | $2,098 | $2,246 | $1,999 |
| 2 adults 3 children | $1,608 | $1,327 | $2,061 | $2,246 | $1,817 |
| 1 adult 4 children | $1,608 | $1,327 | $1,459 | $2,246 | $2,103 |
| 1 adult 3 children | $1,608 | $1,084 | $1,422 | $2,246 | $1,936 |
| 2 adults 2 children | $1,310 | $1,086 | $2,024 | $1,931 | $1,545 |
| 1 adult 2 children | $1,310 | $812 | $1,385 | $1,931 | $1,581 |
| 2 adults 1 child | $1,310 | $859 | $1,988 | $906 | $1,222 |
| 1 adult 1 child | $1,310 | $555 | $1,349 | $906 | $1,185 |
| 2 adults | $1,004 | $690 | $1,432 | $0 | $890 |
| 1 adult | $924 | $376 | $716 | $0 | $711 |
Safety trends & Data
Franklin County, Vermont has seen variable trends in property crime over the past five years, highlighted by significant changes in larceny-theft, peaking at 144 incidents in 2018 and dropping to 59 in 2020, then climbing back to 107 in 2022. Burglary rates have generally decreased, from 20 to 9 incidents over the same period. Motor vehicle theft has stayed low, with a high of 9 cases in 2018 and a low of 2 in 2020. Vandalism has shown some consistency with 52 incidents in 2019 and 39 in 2022.... Read more
Property Crime Trends in Franklin County, VT Over the Last 5 Years
Franklin County, Vermont has seen fluctuations in property crimes over the last five years, with notable peaks and declines. Larceny-theft has been the most prevalent, peaking at 144 incidents in 2018 and dipping to 59 in 2020, before rising again to 107 in 2022. Burglary numbers have generally decreased, from 20 in 2018 to 9 in 2021. Motor vehicle theft remained relatively low, with a high of 9 cases in 2018, and a low of 2 cases in 2020. Vandalism has maintained a somewhat steady presence, reaching 52 incidents in 2019 and 39 in 2022. Fraud incidents decreased from 35 in 2018 to 12 by 2022, suggesting a possible improvement in economic protection measures.
Demographics
Franklin County, Vermont features a closely balanced adult population with males and females almost equally represented. Educational attainment points towards a significant portion of the population having completed high school or some college, though the number of residents possessing higher education degrees is lower. The age distribution suggests a diverse range with a notable concentration in the 35-64 age bracket. Racially, the county is predominantly White, with much smaller proportions... Read more
Race Distribution in Franklin County, Vermont (2022)
Educational Attainment in Franklin County, Vermont (2022)
Age Distribution in Franklin County, Vermont
Citizen Population in Franklin County, Vermont (2022)
Political Trends & Data
Franklin County in Vermont may have had a Democratic lean in the 2020 U.S. Presidential Election, with an estimated 52.2% of votes. Republicans might have trailed with roughly 43.2%. Libertarians and the Green Party captured only minimal support, around 1.3% and 0.2% respectively. The remaining votes likely went to other parties, rounding off about 3%. This voting pattern could hint at a community with diverse political views but a slight inclination towards Democratic... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Franklin County in Vermont potentially leaned towards Democrat in the 2020 U.S. Presidential Election, with around 52.2% of votes. Republicans might have garnered approximately 43.2% support. Libertarians captured a small share, roughly 1.3%, while the Green Party saw minimal backing near 0.2%. Other parties combined possibly accumulated around 3% of the vote.
43.24% of voters voted for the Republican party in the 2020 Presidential Election
52.21% of voters voted for the Democrat party in the 2020 Presidential Election
1.28% of voters voted for the Livertarian party in the 2020 Presidential Election
0.23% of voters voted for the Green party in the 2020 Presidential Election
3.04% of voters voted for the Other party in the 2020 Presidential Election
School Data
Franklin County, Vermont has maintained a student-to-teacher ratio between 10 and 13 over the past decade, compared to the national average of 14. This suggests smaller class sizes, which could attract families and investors focused on personalized education. Real estate agents might highlight this as a selling point, linking it to potential higher educational outcomes in the community. Tuition-driven institutions and insurance agents might also find these trends valuable for assessing... Read more
Student-to-teacher ratio in Franklin County, Vermont over the last 10 years
Franklin County, Vermont has seen fluctuations in its student-to-teacher ratio over the past decade, ranging from a low of around 10 students per teacher to a high of nearly 13. These numbers are consistently better than the current national average of 14 students per teacher, suggesting smaller class sizes. This can be appealing to families and investors who value personalized education, as well as appraisers and real estate agents who can underscore the potential for higher educational outcomes as part of the community's value proposition. Tuition-driven institutions and insurance agents may also find this data useful for assessing enrollment trends and associated risks.
