Spencer County Real Estate and Livability Trends
In Spencer County, Indiana, the real estate and financial landscape has seen significant shifts over the past few years. Median home values have notably increased from $116,100 in 2015 to $168,200 in 2022, suggesting a more attractive investment climate, albeit still under state and national medians. Tax trends mirror economic growth, with average taxable incomes rising and local taxes more than... Read more
Spencer County Market Trends
The median home values in Spencer County, Indiana have steadily climbed, rising from $116,100 in 2015 to $168,200 in 2022. Although still trailing behind the state and national averages, with Indiana at $183,600 and the national median at $179,400 in 2022, this trend could hint at more affordable investment opportunities. Energy tax credits have also fluctuated notably, peaking at $1,000.00 in... Read more
Median Value of Occupied Housing Units in Spencer County, Indiana Over the Last 8 Years
The median home values in Spencer County, Indiana have seen a steady increase over the past eight years, with prices rising from $116,100 in 2015 to $168,200 in 2022. Interestingly, although this growth aligns with broader trends, Spencer County's housing values have typically trailed behind both Indiana and national averages. In contrast, during 2022, the median home value in Indiana reached $183,600 and the national median hit $179,400. This discrepancy potentially suggests opportunities for more affordable investment, especially for those looking to move to or invest in a growing but still comparatively inexpensive area.
Residential Energy Tax Credit Per Tax Return in Spencer County, IN Over the Last 8 Years
In Spencer County, Indiana, the average residential energy tax credit per tax return has shown significant fluctuations over the past eight years. Notably, there was a peak in 2016 at $1,000.00, suggesting a period of increased investment in energy-efficient home improvements. While there was a dip in 2014 to $662.50, the trend generally remained above $680.00, indicating consistent interest in energy efficiency. For investors or real estate agents, these patterns can imply a community's engagement with sustainable practices, potentially impacting home values and marketability in the area.
Average Real Estate Taxes Per Tax Return in Spencer County, IN Over the Last 10 Years
Spencer County, Indiana has seen a notable rise in average real estate taxes per tax return over the past decade. Starting at approximately $1,359.65 in 2012, the tax amount has experienced a consistent increase, peaking at around $2,935.29 in 2021. This upward trend matters for prospective investors and current homeowners as it indicates potential shifts in property values and municipal funding. For real estate agents and appraisers, the steady climb in real estate taxes might reflect a growing market and changing property evaluations. Insurance agents and property developers could see implications in terms of cost estimation and risk assessment based on these financial patterns.
Percentage of Farm Returns in Spencer County, IN Over the Last 10 Years
In Spencer County, Indiana, the percentage of farm tax returns has shown a slight decline over the last ten years, decreasing from approximately 5.19% in 2012 to around 4.59% in 2021. Farm tax returns refer to the tax documents filed by agricultural businesses, reflecting the economic health of the farming sector within the county. This decline might suggest a shift in the local economy or changes in farming activities. For investors and individuals interested in the area, these trends could indicate evolving economic opportunities and might influence decisions related to property investment or development.
Number of Mortgages by Occupancy Type in Spencer County, IN Over the Last 5 Years in Spencer County
Spencer County, Indiana, has seen significant fluctuations in mortgage activity by occupancy type over the past five years, with a notable increase in principal residence mortgages from 636 in 2018 to 972 in 2021. The modest but consistent activity in investment properties and second residences suggests a stable but limited investment interest. Changes in occupancy type influence real estate market dynamics, property values, and potentially insurance premiums, making the county appealing for various stakeholders. Higher primary residence purchases could indicate a growing local population or increased confidence in the area's long-term economic prospects, while stability in investment properties might attract investors seeking steady returns.
Economic Outlook
In Spencer County, Indiana, average taxable incomes have been on a steady rise, skyrocketing from $48,651.27 in 2013 to $65,520.29 in 2021. This upward trend, possibly driven by local industrial development and new business ventures, suggests economic growth and could make the area more attractive for investment and relocation. At the same time, average state and local income taxes have more than doubled, from $4,317.92 in 2012 to $9,623.81 in 2021, reflecting a growing cost of living.... Read more
Average Taxable Income per Tax Return in Spencer County, IN over the last 9 years
Spencer County, Indiana has seen fluctuating yet upward trending average taxable incomes over the past nine years, suggesting some economic growth. From $48,651.27 in 2013 to $65,520.29 in 2021, issues like local industrial development, new business ventures, or public investments may contribute to this rise. The substantial jump to $61,623.85 in 2017 and a peak of $65,520.29 in 2021 might indicate favorable economic activities, possibly making it an attractive spot for investment, property development, or relocation. This enticing trend could signal an improving quality of life and steady economic enhancement in the area.
Average State and Local Income Taxes Per Tax Return in Spencer County, IN Over the Last 10 Years
Spencer County, Indiana has seen a significant increase in average state and local income taxes per tax return over the last decade, starting at $4,317.92 in 2012 and ballooning to $9,623.81 by 2021. Notably, there was a dramatic spike between 2016 and 2018, peaking at $8,450.00 in 2018. This increasing trend highlights rising taxes, impacting cost of living considerations for potential residents and investors.
Average Total Tax Liability Per Tax Return in Spencer County, IN Over the Last 10 Years
Over the last decade, the average total tax liability per tax return in Spencer County, Indiana has shown notable fluctuations. From $6,447.57 in 2012, it gradually increased to a peak of $9,986.02 in 2017, seeing another significant rise in 2021 to $9,623.44. These shifts could suggest economic changes or varying taxpayer incomes. For potential investors or residents, understanding these trends may help in anticipating future tax liabilities and planning financial strategies effectively.
Cost of Living in Spencer County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,098 | $1,375 | $1,738 | $1,254 | $1,101 |
| 1 adult 4 children | $1,098 | $1,123 | $1,328 | $1,254 | $1,191 |
| 2 adults 3 children | $1,098 | $1,124 | $1,509 | $1,254 | $908 |
| 1 adult 3 children | $1,098 | $917 | $1,099 | $1,254 | $972 |
| 2 adults 2 children | $826 | $920 | $1,279 | $1,096 | $803 |
| 1 adult 2 children | $826 | $687 | $869 | $1,096 | $746 |
| 2 adults 1 child | $826 | $727 | $1,050 | $583 | $758 |
| 1 adult 1 child | $826 | $470 | $640 | $583 | $619 |
| 2 adults | $628 | $584 | $820 | $0 | $618 |
| 1 adult | $552 | $319 | $410 | $0 | $505 |
Demographics
Spencer County, Indiana's adult population shows a nearly even split between males and females. The county's education levels reveal a large portion of residents as high school graduates or having some college education, but fewer hold advanced degrees. Age distribution suggests a slightly aging population with significant numbers in the 45 to 64 age brackets. Racially, it remains predominately White, indicating limited diversity in ethnic... Read more
Race Distribution in Spencer County, Indiana (2022)
Educational Attainment in Spencer County, Indiana (2022)
Age Distribution in Spencer County, Indiana
Citizen Population in Spencer County, Indiana (2022)
Political Trends & Data
Spencer County, Indiana, trends conservative, with Republican candidates garnering an estimated 68.3% of the vote in the 2020 U.S. Presidential Election, compared to Democrats at 29.8% and Libertarians around 1.8%. This conservative leaning could shape local policies and influence housing and development decisions, potentially prioritizing traditional values and fiscal conservatism in real estate regulations and community... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Spencer County, Indiana, saw a significant leaning towards Republican candidates in the 2020 U.S. Presidential Election, with an estimated 68.3% of the vote. Democrats secured around 29.8%, while Libertarians captured just about 1.8%. Other parties didn't seem to make a noticeable impact. These trends may suggest a strong conservative presence in the area, which could influence local and state elections and policies.
68.32% of voters voted for the Republican party in the 2020 Presidential Election
29.84% of voters voted for the Democrat party in the 2020 Presidential Election
1.85% of voters voted for the Livertarian party in the 2020 Presidential Election
School Data
Over the past decade, Spencer County, Indiana's student-to-teacher ratio has generally hovered around 15 students per teacher, slightly above the national average of 14. A notable dip in 2021 brought the ratio down to 14, temporarily aligning with the national trend. These slight variations could significantly affect decisions for prospective residents or investors, as lower student-to-teacher ratios often correlate with better individual attention in schools. Real estate professionals might... Read more
Student-to-teacher ratio in Spencer County, Indiana over the last 10 years
Over the past decade, Spencer County, Indiana's student-to-teacher ratio has shown minor fluctuations, hovering mostly around 15 students per teacher, above the national average of 14. A notable dip occurred in 2021 when the ratio dropped to 14 students per teacher, aligning with the national trend, but it has since risen back to the 15 range. These slight variations could impact decisions for prospective residents or investors, as a lower student-to-teacher ratio is often linked to better individual attention in schools. Real estate agents, appraisers, and developers might find this information crucial since educational quality is a key factor for families relocating to the area.
