Kentucky Real Estate and Livability Trends
Kentucky's real estate market might see positive impacts from an increase in average taxable income per tax return, which jumped to $68,988.38 in 2021. Rising median home values from $123,200 in 2015 to $177,000 in 2022 could appeal to budget-conscious buyers, while a notable spike in energy efficiency investments in 2018 reflects growing property enhancements. Climbing real estate taxes, from... Read more
Kentucky Market Trends
Kentucky's median home values have steadily risen from $123,200 in 2015 to $177,000 in 2022, mirroring national trends but staying slightly lower, which may attract budget-conscious buyers looking for growth potential. The residential energy tax credit per tax return notably spiked in 2018 to around $2,336.28, potentially signaling increased investments in energy-efficient upgrades and enhancing... Read more
Median Value of Occupied Housing Units in Kentucky Over the Last 8 Years
Over the past eight years, Kentucky's median home values have consistently risen from $123,200 in 2015 to $177,000 in 2022. This trend closely mirrors the national growth, though Kentucky's median values remain somewhat lower, with the United States reaching $179,400 in 2022. This upward trajectory in Kentucky suggests potential investment opportunities for buyers seeking more affordable options compared to national levels while anticipating similar market appreciation.
Active Loans in Foreclosure/Bankruptcy/Deed in Lieu in Kentucky over the last 10 years
Active Loans 30-60 Days Past Due in Kentucky over the last 10 years in Kentucky
Perent of loans that are Active Loans 90-180 Days Past Due in Kentucky over the last 10 years in Kentucky
Residential Energy Tax Credit Per Tax Return in Kentucky Over the Last 9 Years
Kentucky's residential energy tax credit per tax return has shown a general upward trend over the last nine years, with a notable spike in 2018 averaging $2,336.28. Following this, the credit seems to stabilize, but generally stays higher than pre-2018 levels, culminating in $1,000.28 in 2021. This pattern may indicate growing investments in energy-efficient upgrades or incentives that could boost property value and appeal to eco-conscious buyers.
Average Real Estate Taxes Per Tax Return in Kentucky Over the Last 10 Years
In Kentucky, the average real estate taxes per tax return have seen a notable increase over the last decade. Starting from $2,128.69 in 2012, there has been a gradual but consistent upward trend, peaking at $4,379.74 in 2021. The sharpest rise appears to have occurred between 2017 and 2018, suggesting a potential shift in tax policy or changes in property valuations. This escalating trajectory in real estate taxes might influence investment decisions, property appraisals, and overall cost of living, making it a crucial factor for those considering moving to or investing in Kentucky.
Percentage of Farm Returns in Kentucky Over the Last 10 Years
Over the last decade, the percentage of farm returns in Kentucky has shown a gradual decline from approximately 4.20% in 2012 to about 3.47% in 2021. Despite a slight uptick in 2021, the overall trend suggests a potential shift in the agricultural landscape. For potential investors and those interested in rural property in Kentucky, understanding these farm return trends is valuable, as they could reflect broader changes in the local economy and land use. Farm tax returns, which document the income generated from farming activities, can serve as an indicator of the economic health and viability of the farming sector. This could impact land values and investment opportunities in the region.
Economic Outlook
Kentucky's real estate market could be invigorated by the general upward trend in average taxable income per tax return, which spiked to $68,988.38 in 2021, hinting at a more prosperous economic environment. The steady rise in state and local income taxes, doubling from $7,035.61 in 2012 to $14,519.88 in 2021, may influence investment decisions and living costs, underscoring the importance of monitoring financial trends. Meanwhile, the growing average total tax liability, climbing to $11,183.61... Read more
Average Taxable Income per Tax Return in Kentucky over the last 9 years
Kentucky has shown a general upward trend in average taxable income per tax return over the last nine years, culminating in a notable spike to $68,988.38 in 2021. This increase could reflect a more prosperous economic environment, appealing to potential investors and real estate agents, suggesting a healthy appreciation in property values. Appraisers and insurance agents might find this data compelling for understanding regional economic growth, while those considering relocating may be drawn to the area for its improving financial climate.
Average State and Local Income Taxes Per Tax Return in Kentucky Over the Last 10 Years
Over the last decade, Kentucky has seen a steady increase in average state and local income taxes per tax return, culminating in a significant jump starting in 2018. The average tax amount rose from $7,035.61 in 2012 to $14,519.88 in 2021, representing over a twofold increase. This sustained rise, particularly the sharp 2018 spike, can impact investment decisions, cost of living considerations, and overall financial planning for individuals and businesses considering moving to or operating in the state. The evolving tax landscape underscores the importance of being vigilant about financial trends in Kentucky.
Average Total Tax Liability Per Tax Return in Kentucky Over the Last 10 Years
Kentucky has seen a generally upward trend in average total tax liability per tax return over the past decade, starting around $7,902.71 in 2012 and reaching $11,183.61 by 2021. Notable year-over-year increases, particularly between 2017 and 2021, suggest growing incomes and possibly changing tax policies. This could impact decisions for those considering moving or investing in the state, as higher tax liabilities might indicate a stronger economy or increased personal income levels among residents.
Cost of Living in Kentucky
Safety trends & Data
Property crime trends in Kentucky over the last five years show mixed but generally positive signals for the real estate market. Arson incidents have nearly halved from 1,050 in 2018 to 685 in 2022, while burglary arrests and motor vehicle theft rates have stabilized or declined, indicating an improved security situation. The significant drop in larceny-theft cases from 2,961 to 1,803 points to lower risk for property owners. However, fraud numbers still present a cautionary note, even with a... Read more
Property Crime Trends in Kentucky Over the Last 5 Years
Over the last five years, property crime in Kentucky has shown varying trends across different categories. Although arson incidents gradually decreased from 1,050 in 2018 to 685 in 2022, burglary arrests fluctuated with no consistent pattern, ending at a moderate 84 in 2022. Larceny-theft saw a noticeable decline from 2,961 in 2018 to 1,803 in 2022, and motor vehicle thefts followed a similar trajectory, dropping from 433 to 217. Embezzlement and forgery also decreased, reflecting a heightened effectiveness in fraud prevention measures or shifting focus by law enforcement. Fraud itself, however, still remains considerable, albeit dropping from 13,578 in 2018 to 6,026 in 2022. For those in real estate, appraisal, insurance, and property development, these trends indicate a generally improving safety landscape in Kentucky, though vigilance against fraud remains essential.
Demographics
Kentucky's adult population in 2022 revealed a slight female majority. In terms of educational attainment, high school graduates dominated, followed by those with some college experience but no degree. The age distribution showed a substantial number of residents aged between 25 and 64 years, hinting at a relatively mature populace. Racially, the state remains predominantly White, with small percentages of Black or African American, Asian, and other racial... Read more
Race Distribution in Kentucky (2022)
Educational Attainment in Kentucky (2022)
Age Distribution in Kentucky
Citizen Population in Kentucky (2022)
Political Trends & Data
Kentucky's 2020 U.S. Presidential Election results might show a significant lean towards Republican candidates, potentially capturing over 60% of the vote share. Democratic candidates seemingly secured slightly more than a third of the votes. Votes for Libertarian and Green parties combined likely accounted for about 1.7%. This trend suggests a strong conservative preference among Kentucky... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Kentucky, the 2020 U.S. Presidential Election results may reveal a strong preference for Republican candidates, with possibly over three-fifths of the vote share. Democratic candidates seemed to attract slightly over a third of the voters, while other parties, including Libertarian and Green, collectively polled around 1.7%. This distribution might highlight the significant lean towards conservative policies and candidates in the state.
62.13% of voters voted for the Republican party in the 2020 Presidential Election
36.17% of voters voted for the Democrat party in the 2020 Presidential Election
1.23% of voters voted for the Libertarian party in the 2020 Presidential Election
0.47% of voters voted for the Other party in the 2020 Presidential Election
School Data
Kentucky's student-to-teacher ratio has seen fluctuations, peaking at 17:1 in 2020 before easing to around 15:1 recently, which is still higher than the national average of 14:1. This could indicate larger class sizes that might affect individual student attention and educational outcomes. For investors and real estate professionals, the quality of education is a key factor influencing property values and market demand. Families moving to or living in Kentucky might prioritize this aspect when... Read more
Student-to-teacher ratio in Kentucky over the last 10 years
Kentucky's student-to-teacher ratio has shown fluctuations over the past decade, peaking at 17 students per teacher in 2020 before declining to around 15 in recent years. This is slightly higher than the current national average of 14 students per teacher, which could signal larger class sizes that might impact individual student attention and educational outcomes. Investors, appraisers, insurance agents, builders, and real estate agents might find this data relevant when considering the quality of education – a critical factor that can influence property values and market demand in the area. For families and individuals moving to or living in Kentucky, this ratio may be a significant consideration when evaluating local schools.
