Franklin County Real Estate and Livability Trends
Franklin County, Washington has seen its median home values jump from $166,800 in 2015 to $308,700 in 2022, suggesting a surge in interest due to comparatively affordable real estate. Average taxable income has climbed from around $49,179 in 2013 to nearly $70,000 in 2021, hinting at economic growth possibly impacting property values. Real estate taxes have seen substantial increases, from... Read more
Franklin County Market Trends
Franklin County's median home values have spiked from $166,800 in 2015 to $308,700 in 2022, boasting robust growth compared to the Washington state average of $473,400 and the national median of $179,400. This rapid appreciation suggests rising interest in Franklin County's more affordable market. Meanwhile, real estate taxes have surged, notably from $3,087.59 in 2017 to $4,368.90 in 2018,... Read more
Median Value of Occupied Housing Units in Franklin County, Washington Over the Last 8 Years
Franklin County's median home values have experienced a significant rise over the past eight years, jumping from $166,800 in 2015 to $308,700 in 2022. While Franklin County remains more affordable than the Washington state average, which has soared to $473,400, its growth rate appears quite robust. Nationally, median home values have moved slower, reaching $179,400 in 2022, suggesting Franklin County may be drawing increased interest. This substantial growth may offer enticing opportunities for investors and potential homebuyers looking for more affordable yet appreciating markets within Washington.
Residential Energy Tax Credit Per Tax Return in Franklin County, WA Over the Last 9 Years
Franklin County, Washington, has seen fluctuating trends in residential energy tax credits over the past nine years. Significant spikes occurred in 2015 and 2017, with notable peaks in 2018, where the average credit per tax return surged to $5480.00. This variability suggests an evolving landscape for residential energy investments and regulatory incentives, making this county an intriguing option for real estate agents, appraisers, insurance agents, and potential investors keen on understanding local financial incentives tied to energy efficiency upgrades.
Average Real Estate Taxes Per Tax Return in Franklin County, WA Over the Last 10 Years
Franklin County, Washington, has seen a notable upward trend in average real estate taxes per tax return over the past decade, with particularly steep increases in recent years. Taxes surged sharply from $3,087.59 in 2017 to $4,368.90 in 2018, followed by fluctuations hovering around the $4,000.00 mark. This could potentially reflect rising property values and increased public spending, making it a critical data point for prospective real estate investors, appraisers, and those considering relocating to the area.
Percentage of Farm Returns in Franklin County, WA Over the Last 10 Years
Farm tax returns in Franklin County, Washington have shown a steady decline over the past decade. Starting at approximately 1.62% in 2012, the percentage has decreased to about 1.21% in 2021. Farm tax returns essentially reflect the financial health and activity level of the agricultural sector. This downward trend could suggest a variety of factors such as fewer farms, reduced profitability, or shifting economic activities. For those looking to invest in or move to Franklin County, understanding this trend is crucial as it indicates changes in the county's agricultural landscape. This data can influence decisions regarding property investments, local economic prospects, and the overall vitality of the farming community.
Number of Mortgages by Occupancy Type in Franklin County, WA Over the Last 5 Years in Franklin County
Over the last five years in Franklin County, Washington, the number of mortgages for principal residences has shown significant fluctuations, peaking in 2021 with 7404 mortgages and dropping to 4000 in 2022. There's a noticeable trend of relatively stable, yet low, numbers of investment property and second residence mortgages, with investment properties ranging between 219 and 364 per year. These trends can indicate changing priorities or economic conditions affecting where and how people choose to commit financially, impacting investors' strategies, real estate market analysis, appraisal values, and insurance risk assessments. For real estate and construction professionals, understanding these dynamics can inform better development and sales strategies, while long-term residents may find the shifting patterns indicative of broader economic shifts in their community.
Economic Outlook
Franklin County, Washington, has seen a steady rise in average taxable income per tax return from about $49,179 in 2013 to nearly $70,000 in 2021, hinting at economic growth and potentially increasing property values. Over the past decade, average state and local income taxes per tax return have fluctuated, spiking to $7,831.58 in 2019 from a dip in 2017. This variability could signal shifts in economic conditions that are crucial for investors and professionals analyzing the area. Meanwhile,... Read more
Average Taxable Income per Tax Return in Franklin County, WA over the last 9 years
Over the past nine years, Franklin County, Washington, has witnessed a notable upward trend in average taxable income per tax return, with figures rising from approximately $49,179 in 2013 to nearly $70,000 in 2021. Such an increase may suggest economic growth and potential for increasing property values in the region. Investors, real estate agents, and those looking to move to the area might be particularly interested in these trends, as they could indicate a robust and improving local economy, which may also impact insurance and appraisal values.
Average State and Local Income Taxes Per Tax Return in Franklin County, WA Over the Last 10 Years
Over the past decade in Franklin County, Washington, average state and local income taxes per tax return showed noticeable fluctuation. After a relatively stable period from 2012 to 2016, there was a dip in 2017 with $4988.64, followed by a sharp increase reaching $7831.58 in 2019. The rates have stayed elevated since, with 2021 recording an average of $7131.58. This volatility could be relevant for investors, potential residents, and professionals analyzing the fiscal landscape, reflecting shifts in economic conditions and policy changes affecting disposable incomes.
Average Total Tax Liability Per Tax Return in Franklin County, WA Over the Last 10 Years
Franklin County, Washington has shown fluctuations in its average total tax liability per tax return over the last decade. Notably, 2012 and 2021 reflect higher averages at $10,053.98 and $10,039.76 respectively, with a dip to $8,228.70 in 2014. The trend suggests variability, which could impact financial planning for prospective homeowners, investors, and those in the real estate market. This information could be particularly pertinent for appraisers and insurance agents assessing property values and potential risks over time.
Cost of Living in Franklin County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,462 | $1,412 | $1,535 | $1,525 | $963 |
| 1 adult 4 children | $1,462 | $1,153 | $1,185 | $1,525 | $1,096 |
| 2 adults 3 children | $1,462 | $1,153 | $1,327 | $1,525 | $779 |
| 1 adult 3 children | $1,462 | $941 | $976 | $1,525 | $898 |
| 2 adults 2 children | $1,105 | $944 | $1,118 | $1,361 | $667 |
| 1 adult 2 children | $1,105 | $705 | $768 | $1,361 | $663 |
| 2 adults 1 child | $1,105 | $746 | $910 | $828 | $659 |
| 1 adult 1 child | $1,105 | $482 | $559 | $828 | $578 |
| 2 adults | $889 | $599 | $701 | $0 | $533 |
| 1 adult | $755 | $327 | $350 | $0 | $449 |
Safety trends & Data
In Franklin County, Washington, property crime has experienced fluctuations over the past five years. Larceny-Theft peaked in 2019 with 346 incidents, dipped in 2020 and 2021, then rose to 319 incidents in 2022. Burglary remained stable but spiked to 94 cases in 2022 from just 62 the year before. Motor Vehicle Theft saw a gradual rise, peaking at 23 incidents in 2022. These trends might influence both potential investors and residents, making understanding local crime dynamics crucial for... Read more
Property Crime Trends in Franklin County, WA Over the Last 5 Years
Over the last five years, property crime in Franklin County, Washington has shown some fluctuations, particularly in categories like Larceny-Theft and Burglary. Larceny-Theft peaked in 2019 with 346 incidents and saw a slight dip in 2020 and 2021 before increasing again in 2022 to 319 incidents. Burglary numbers remained relatively stable but saw a notable jump from 62 in 2021 to 94 in 2022. Arson incidents remained low but slightly increased, reaching their highest in 2021 with 6 cases. Motor Vehicle Theft gradually increased over the years, peaking at 23 incidents in 2022. These trends may be pertinent for potential investors, real estate agents, and current residents considering the area's property crime risks.
Demographics
In Franklin County, Washington, the gender distribution is quite balanced, with a slight male majority. Educational attainment varies widely; many individuals have only a high school diploma or some college experience, while fewer hold advanced degrees. The age distribution skews younger, with a significant percentage of the population under 35. Racially, the county is predominantly White, though a substantial portion identifies as "Some other race," reflecting diversity. This demographic data... Read more
Race Distribution in Franklin County, Washington (2022)
Educational Attainment in Franklin County, Washington (2022)
Age Distribution in Franklin County, Washington
Citizen Population in Franklin County, Washington (2022)
Political Trends & Data
Franklin County, Washington may be leaning Republican based on the 2020 Presidential election results, where around 56% of the votes were for the GOP. However, with Democrats securing approximately 41%, the political climate seems fairly competitive, which could influence local real estate developments and policies. Third parties didn't make much of a splash, collectively getting less than 5% of the vote. This political mix might suggest a diverse community with varying preferences that... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Franklin County, Washington saw a trend toward voting Republican in the 2020 U.S. Presidential Election, with approximately 56% of the votes. Democrats garnered a significant portion as well, with around 41% of the vote, potentially indicating a competitive political landscape. Minor parties like the Libertarian and Green parties, along with other candidates, made a minimal impact, collectively drawing less than 5% of the vote.
55.67% of voters voted for the Republican party in the 2020 Presidential Election
41.17% of voters voted for the Democrat party in the 2020 Presidential Election
2.11% of voters voted for the Livertarian party in the 2020 Presidential Election
0.34% of voters voted for the Green party in the 2020 Presidential Election
0.72% of voters voted for the Other party in the 2020 Presidential Election
School Data
Franklin County, Washington has seen its student-to-teacher ratio fluctuate between 15 and 20 over the past nine years, often surpassing the national average of 14. Higher ratios can hint at larger class sizes, influencing investor decisions and family relocations due to potential impacts on education quality and property values. However, the recent drop to 15 students per teacher in 2023 could represent a shift towards national standards, potentially boosting the county's... Read more
Student-to-teacher ratio in Franklin County, Washington over the last 9 years
Franklin County, Washington has experienced fluctuations in its student-to-teacher ratio over the past nine years, with values ranging from a high of nearly 20 in 2022 to a low of approximately 15 in 2023. Notably, most years have seen ratios exceeding the current national average of 14 students per teacher, which could influence decisions for potential investors, families considering relocation, and educational appraisers. Higher student-to-teacher ratios might suggest larger class sizes, potentially affecting the quality of education and individual student attention, thereby impacting residential attractiveness and property values in the county. Conversely, a recent dip to 15 students per teacher in 2023 may indicate a positive shift towards more closely aligned national standards, enhancing the county's appeal.
