Fayette County Real Estate and Livability Trends
Fayette County, Indiana has seen tangible economic growth, with average taxable income rising from roughly $39,902.30 in 2013 to about $48,417.86 in 2021, sparking potential investor interest. Despite increased local and state taxes, currently at $9,100.00 as of 2021, real estate remains affordable with median home values rising to $99,100 in 2022, well below state and national averages. The... Read more
Fayette County Market Trends
The median home values in Fayette County, Indiana, have steadily increased from $81,900 in 2015 to $99,100 in 2022, but remain lower than the state and national averages, suggesting potential affordability. Energy tax credits spiked in 2019, pointing to increased homeowner investment in energy-efficient upgrades. Real estate taxes showed significant jumps, notably surging to $2100.00 in 2018,... Read more
Median Value of Occupied Housing Units in Fayette County, Indiana Over the Last 8 Years
The median home values in Fayette County, Indiana, have shown a steady increase over the past eight years, rising from $81,900 in 2015 to $99,100 in 2022. While Fayette County's growth trajectory is impressive, the median home value remains significantly lower compared to the state and national averages. In 2022, Indiana's median home value was $183,600, and the national figure reached $179,400. This relatively lower median value might suggest more accessible investment opportunities and affordable housing options in Fayette County, making it an appealing area for potential homebuyers or investors seeking cost-effective entry points.
Residential Energy Tax Credit Per Tax Return in Fayette County, IN Over the Last 8 Years
Fayette County in Indiana has seen noticeable fluctuations in residential energy tax credits over the past eight years. The largest spike occurred in 2019, reaching an average of $933.33 per tax return. This may hint at increased homeowner investment in energy-efficient improvements during that period, which could be tied to rising awareness or state incentives. Such trends might be appealing for investors or real estate agents focusing on energy-efficient properties, as well as appraisers and insurance agents who need to factor these improvements into valuations and policies. For those building or looking to move to Fayette County, this could signify an area where residents are conscious of energy savings, potentially reducing future utility costs.
Average Real Estate Taxes Per Tax Return in Fayette County, IN Over the Last 10 Years
Fayette County, Indiana has witnessed fluctuating real estate taxes over the last decade, with significant jumps in certain years. For instance, while the average tax per return in 2012 started at $1249.64, it surged to $2100.00 in 2018 and somewhat stabilized around $2013.33 by 2021. These changes could imply evolving property valuations or adjustments in county tax policies, making it essential for potential investors, appraisers, and real estate agents to stay informed.
Percentage of Farm Returns in Fayette County, IN Over the Last 10 Years
Farm tax returns in Fayette County, Indiana, have shown a slight downward trend over the last decade. Starting at roughly 3.43% in 2012, the percentage dropped to about 2.95% by 2021. There was a brief uptick in 2017, but overall, numbers indicate a marginal decline. This may suggest a shift away from farming as a primary source of income, potentially affecting land valuation and investment opportunities in the area. For anyone interested in investing or developing property here, it's worth noting these subtle yet consistent changes in the agricultural landscape.
Number of Mortgages by Occupancy Type in Fayette County, IN Over the Last 5 Years in Fayette County
Over the past five years in Fayette County, Indiana, there's been a noticeable increase in mortgages for principal residences, peaking significantly in 2021 with 1,189 mortgages, while investment properties and second residences saw relatively stable, low numbers in comparison. This shift towards principal residences might hint at a growing demand for permanent housing, likely impacting real estate prices and investment opportunities. For investors and developers, it suggests a robust market for family homes, while appraisers and insurance agents might see more stable business. These trends could also indicate changing demographics, appealing to those considering relocating or setting up businesses targeting year-round residents.
Economic Outlook
Fayette County, Indiana has experienced a steady rise in average taxable income over the past decade, climbing from roughly $39,902.30 in 2013 to about $48,417.86 in 2021. This trend might attract potential investors or new residents due to hints of economic growth and improved job prospects. Concurrently, average state and local income taxes have surged from $5,219.73 in 2012 to $9,100.00 in 2021, possibly reflecting enhanced economic activity and tax collection efforts. The average total tax... Read more
Average Taxable Income per Tax Return in Fayette County, IN over the last 9 years
Fayette County, Indiana has seen a steady increase in average taxable income over the past nine years, rising from approximately $39,902.30 in 2013 to around $48,417.86 in 2021. This trend could be appealing for prospective investors or those considering a move, indicating potential economic growth and possibly improved job opportunities. Notably, the largest year-on-year jump occurred between 2020 and 2021, where the average taxable income jumped by about $3,317.49.
Average State and Local Income Taxes Per Tax Return in Fayette County, IN Over the Last 10 Years
Over the last decade, Fayette County, Indiana has seen a notable increase in average state and local income taxes per tax return. Starting at $5,219.73 in 2012, the amount gradually rose to $9,100.00 by 2021. This upward trend reflects potential economic growth and increased tax efforts, and could influence decisions for those considering investments, moves, or development in the area.
Average Total Tax Liability Per Tax Return in Fayette County, IN Over the Last 10 Years
In Fayette County, Indiana, the average total tax liability per tax return has showcased a generally steady increase over the past decade. With figures hovering around the low $5,500 range in the early 2010s, the county saw periodic fluctuations but maintained an upward trajectory, peaking at $6,177.76 in 2021. For those looking to invest, build, or move to Fayette County, these numbers might suggest a modest economic growth and possibly a slightly higher cost of living or increases in income levels.
Cost of Living in Fayette County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,016 | $1,214 | $1,978 | $1,206 | $974 |
| 1 adult 4 children | $1,016 | $992 | $1,513 | $1,206 | $1,028 |
| 2 adults 3 children | $1,016 | $992 | $1,716 | $1,206 | $802 |
| 1 adult 3 children | $1,016 | $810 | $1,251 | $1,206 | $812 |
| 2 adults 2 children | $835 | $812 | $1,454 | $1,054 | $742 |
| 1 adult 2 children | $835 | $607 | $989 | $1,054 | $640 |
| 2 adults 1 child | $835 | $642 | $1,192 | $561 | $690 |
| 1 adult 1 child | $835 | $415 | $727 | $561 | $567 |
| 2 adults | $634 | $516 | $930 | $0 | $576 |
| 1 adult | $558 | $281 | $465 | $0 | $467 |
Demographics
Fayette County, Indiana shows a relatively balanced gender distribution with a slight female majority. The educational attainment data highlights a population that is primarily high school educated, with fewer individuals holding college or graduate degrees. Age distribution indicates a notably older population, with significant portions aged 45 and above. The overwhelming racial majority is White, with other racial groups making up a small fraction of the... Read more
Race Distribution in Fayette County, Indiana (2022)
Educational Attainment in Fayette County, Indiana (2022)
Age Distribution in Fayette County, Indiana
Citizen Population in Fayette County, Indiana (2022)
Political Trends & Data
In Fayette County, Indiana, the 2020 U.S. Presidential Election results suggested a dominant Republican presence with about 76.5% of the vote, contrasting Democrats who managed around 22%, and Libertarians with a minor 1.4%. This significant tilt towards conservative candidates might reflect the county's community values and socio-political inclinations, possibly influencing local policies and real estate market dynamics. Understanding these political trends can be crucial for gauging... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Fayette County, Indiana, the 2020 U.S. Presidential Election seemingly leaned heavily Republican, with approximately 76.5% of the vote. Democrats garnered around 22%, while Libertarians received a modest 1.4%. This trend hints at a strong conservative foothold in the county, potentially indicating community values and sociopolitical alignment.
76.51% of voters voted for the Republican party in the 2020 Presidential Election
22.07% of voters voted for the Democrat party in the 2020 Presidential Election
1.42% of voters voted for the Livertarian party in the 2020 Presidential Election
School Data
Fayette County, Indiana has seen its student-to-teacher ratio fluctuate, peaking at 18 students per teacher in 2015 before gradually declining to approximately 14 in recent years. This trend now aligns more closely with the national average and suggests enhanced educational support, likely making the area more appealing to families. For investors and real estate agents, the improving ratios could indicate a growing commitment to education, making properties potentially more attractive to... Read more
Student-to-teacher ratio in Fayette County, Indiana over the last 10 years
Over the past decade, Fayette County, Indiana has seen its student-to-teacher ratio fluctuate, peaking at 18 students per teacher in 2015 before gradually declining to approximately 14 in recent years. This trend, now aligning closer to the national average of 14 students per teacher, could suggest enhanced educational support and individualized attention in schools, which might be appealing to families considering a move to the area. For investors and real estate agents, the improving ratios could indicate a growing commitment to education, making properties potentially more attractive to buyers. Additionally, appraisers and insurance agents may view these trends as a sign of stability and investment in local infrastructures like schools, which can contribute positively to community health and safety metrics.
