Adair County Real Estate and Livability Trends
Adair County, Kentucky's real estate market is showing a significant upward trajectory. The median home value spiked from $82,400 in 2015 to $126,900 in 2022, remaining competitively lower than the state median of $177,000. This increase in home values, alongside a substantial rise in average taxable income per tax return from $33,255.68 in 2013 to $47,815.05 in 2021, points to potential economic... Read more
Adair County Market Trends
Adair County, Kentucky is experiencing an intriguing real estate market shift. The median home value has significantly increased from $82,400 in 2015 to $126,900 in 2022, offering a more affordable entry point compared to the state's $177,000 median. Meanwhile, residential energy tax credits have sharply risen to $800.00 in 2021, hinting at growing investments in energy efficiency. Real estate... Read more
Median Value of Occupied Housing Units in Adair County, Kentucky Over the Last 8 Years
Adair County, Kentucky has seen a noticeable increase in median home values over the past eight years, growing from $82,400 in 2015 to $126,900 in 2022. Although still below the state median of Kentucky, which reached $177,000 in 2022, Adair County's growth rate might be appealing to investors and homebuyers looking for emerging markets within the state. Comparatively, while national median values surged from $125,500 in 2015 to $179,400 in 2022, Adair County offers a more affordable entry point with potential for solid appreciation.
Residential Energy Tax Credit Per Tax Return in Adair County, KY Over the Last 8 Years
The data from Adair County, Kentucky highlights a notable fluctuation in residential energy tax credits per tax return over the past eight years. Initially, the credit amounts varied modestly, peaking at $350.00 in 2015 before sliding to $266.67 in 2017. However, there was a sharp rise starting in 2019, with credits hitting $700.00 and maintaining this level into 2020, followed by an increase to $800.00 in 2021. This could suggest a growing emphasis on energy-efficient investments, potentially driven by local incentives or broader economic shifts, which could be of interest to investors, real estate agents, and insurance evaluators considering the future market dynamics and environmental initiatives in the area.
Average Real Estate Taxes Per Tax Return in Adair County, KY Over the Last 10 Years
Over the past decade, average real estate taxes per tax return in Adair County, Kentucky have experienced notable increases, spiking from $1,265.17 in 2012 to $2,460.00 in 2021. The most significant jumps occurred between 2017 and 2018, and again between 2020 and 2021. This trend signals a substantial rise in property costs, potentially reflecting increasing property values or revised tax assessments. For prospective investors, homebuyers, or anyone in the real estate sector, it's crucial to be aware of these tax trends, as they impact overall property expense and can influence financial planning and decision-making.
Percentage of Farm Returns in Adair County, KY Over the Last 10 Years
Adair County, Kentucky has seen a gradual decline in the percentage of farm tax returns over the last decade. Starting at 18.25% in 2012, the figure has steadily decreased to 13.70% in 2021. Farm tax returns, reflecting the financial health and activity of the agricultural sector, indicate fluctuating investments and potentially changing land use trends. This trend might interest investors and potential residents considering property development or those invested in the county's agricultural economy.
Number of Mortgages by Occupancy Type in Adair County, KY Over the Last 5 Years in Adair County
In Adair County, Kentucky, the number of mortgages for principal residences has shown a slight decline over the past five years, indicating a potential stabilization or cooling in the primary housing market. Conversely, investment property mortgages have remained rather steady, suggesting sustained investor interest in the area. The relatively low and stagnant numbers for second residences highlight that this market segment may not be as prominent compared to principal and investment properties. These trends can influence decisions for potential investors assessing market stability, real estate agents planning marketing strategies, appraisers considering property values, and insurance agents evaluating risk exposure.
Economic Outlook
Adair County, Kentucky has seen a steady climb in average taxable income per tax return, growing from $33,255.68 in 2013 to $47,815.05 in 2021, which may signal increasing individual wealth and economic growth. Concurrently, there's been a notable rise in average state and local income taxes, particularly from $4,876.84 in 2012 to $10,852.94 in 2021, suggesting higher earnings or tax rates. These trends highlight the county's evolving economic landscape, potentially impacting property values,... Read more
Average Taxable Income per Tax Return in Adair County, KY over the last 9 years
Over the past nine years, Adair County, Kentucky has shown a steady increase in average taxable income per tax return. Starting from $33,255.68 in 2013, these figures gradually rose, reaching $47,815.05 in 2021. This trend suggests a growing economy and potentially increasing individual wealth within the county, making it an attractive option for prospective investors, real estate agents, and those considering relocation. For appraisers and insurance agents, this upward movement in taxable income could influence property values and insurance premiums, respectively.
Average State and Local Income Taxes Per Tax Return in Adair County, KY Over the Last 10 Years
Adair County, Kentucky has seen a notable uptick in average state and local income taxes per tax return over the past decade, indicating a significant rise in residents' earnings or tax rates. From an average of around $4,876.84 in 2012 to $10,852.94 by 2021, this increase suggests a growing economic base which could be attractive for investors or those considering relocation. The sharpest rise occurred between 2017 and 2018, jumping from approximately $5,763.54 to $8,120.00, and continued to surge in subsequent years. This trend is particularly relevant for those eyeing property investments or new business opportunities in Adair County.
Average Total Tax Liability Per Tax Return in Adair County, KY Over the Last 10 Years
Over the past decade, Adair County, Kentucky has seen fluctuating yet generally increasing average total tax liabilities per tax return. Notably, the tax liability significantly spiked in 2021 to $6,848.92 from a relatively stable range of $4,000.00 to $5,000.00 in previous years. This trend may indicate recent economic changes or policy shifts impacting residents' financial responsibilities. Potential investors and property developers should consider these liabilities, as they could influence disposable income and local market dynamics.
Cost of Living in Adair County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,055 | $1,223 | $1,820 | $1,056 | $1,083 |
| 1 adult 4 children | $1,055 | $998 | $1,392 | $1,056 | $1,126 |
| 2 adults 3 children | $1,055 | $999 | $1,579 | $1,056 | $884 |
| 1 adult 3 children | $1,055 | $815 | $1,151 | $1,056 | $898 |
| 2 adults 2 children | $742 | $818 | $1,338 | $916 | $758 |
| 1 adult 2 children | $742 | $611 | $910 | $916 | $662 |
| 2 adults 1 child | $742 | $646 | $1,097 | $461 | $719 |
| 1 adult 1 child | $742 | $417 | $669 | $461 | $600 |
| 2 adults | $577 | $519 | $856 | $0 | $624 |
| 1 adult | $573 | $283 | $428 | $0 | $544 |
Safety trends & Data
In Adair County, Kentucky, the real estate market could be influenced by recent property crime trends. Burglary incidents decreased dramatically from 24.00 in 2018 to 9.00 in 2022, and Larceny-Theft dropped from 29.00 to 5.00, possibly making the area more appealing to homebuyers concerned with security. However, categories like Fraud saw fluctuations, peaking at 12.00 in 2021 and slightly falling to 11.00 in 2022, signaling ongoing challenges in certain crime areas. This mixed picture helps... Read more
Property Crime Trends in Adair County, KY Over the Last 5 Years
Property crime trends in Adair County, Kentucky over the last five years show a noticeable fluctuation. Burglary incidents have largely decreased from 24.00 in 2018 to 9.00 in 2022, which could be a positive indicator for potential homebuyers and investors wary of property security. Larceny-Theft also sees a significant drop, from 29.00 in 2018 to 5.00 in 2022. On the other hand, categories like Fraud and Stolen Property arrests appear to vary without a clear downward trend, with Fraud peaking at 12.00 in 2021 but slightly decreasing to 11.00 in 2022. Such data could be relevant for insurance agents and appraisers in understanding risk and evaluating policy needs. Overall, a mixed bag of crime stats might suggest improvement in some areas of property crime, but persistent issues in others give a nuanced perspective for real estate development and investment.
Demographics
Adair County, Kentucky's adult population skews slightly toward females. In terms of education, there’s a notable portion of residents who have attained only a high school diploma or some college experience but no degree, highlighting potential opportunities for higher education initiatives. Age-wise, there's a balanced spread across age groups, though the population trend appears to tilt towards older age brackets, suggesting a potentially aging population. Racially, the county is... Read more
Race Distribution in Adair County, Kentucky (2022)
Educational Attainment in Adair County, Kentucky (2022)
Age Distribution in Adair County, Kentucky
Citizen Population in Adair County, Kentucky (2022)
Political Trends & Data
Adair County, Kentucky, exhibited a strong Republican preference in the 2020 U.S. Presidential Election with over 83.00% of votes, while the Democratic party received just under 16.00%. The combined vote share for Libertarian and other minor parties was under 1.00%, suggesting that third-party influence might be minimal in this... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Adair County, Kentucky, showed a significant leaning toward the Republican party in the 2020 U.S. Presidential Election, with over 83% of votes favoring them. The Democratic party garnered nearly 16% of votes, a stark contrast to the overwhelming Republican support. Minor parties like the Libertarian and Others collectively made up less than 1% of the vote, indicating a possibly limited influence from third-party candidates in this area.
83.03% of voters voted for the Republican party in the 2020 Presidential Election
15.88% of voters voted for the Democrat party in the 2020 Presidential Election
0.68% of voters voted for the Livertarian party in the 2020 Presidential Election
0.40% of voters voted for the Other party in the 2020 Presidential Election
School Data
Adair County, Kentucky has seen a downward trend in student-to-teacher ratios, dropping from 14.68 in 2014 to 12.75 in 2023, lower than the national average of 14. This trend implies more personalized education, which could appeal to families and potentially boost property values. Real estate investors might see this as a sign of long-term stability and growth, making it a favorable market for future... Read more
Student-to-teacher ratio in Adair County, Kentucky over the last 10 years
Adair County, Kentucky has experienced some fluctuations in the student-to-teacher ratio over the past decade, with ratios generally trending downward from a high of 14.68 in 2014 to a low of 12.71 in 2017 and 12.75 in 2023. This potentially indicates smaller class sizes relative to the U.S. national average of 14 students per teacher, implying a more personalized educational environment. For investors, lower ratios may signal a stable or improving quality of education, appealing to families. Real estate agents might find this trend attractive for prospective homebuyers, while appraisers and insurance agents could see it reflecting positively on property values and community investments. Building property in an area with favorable student-to-teacher ratios might suggest long-term stability and growth.
