Boone County Real Estate and Livability Trends
Boone County, Kentucky has seen a significant rise in average taxable income per tax return, increasing from $62,209.61 in 2013 to $83,342.76 by 2021. Median home values have also surged to $237,600 in 2022, surpassing state and national trends. These economic signals may attract investors due to the county's growing prosperity. Real estate taxes climbed to $4,066.58 in 2021, reflecting broader... Read more
Boone County Market Trends
Boone County, Kentucky has seen its median home values rise notably to $237,600 in 2022, outpacing both state and national trends. Residential energy tax credits have varied, with significant spikes in 2018 and 2021 hinting at possible incentives or efficiency upgrades. Real estate taxes have increased substantially over the past decade, reaching around $4,066.58 in 2021. The percentage of farm... Read more
Median Value of Occupied Housing Units in Boone County, Kentucky Over the Last 8 Years
Boone County, Kentucky has seen a steady increase in median home values over the past eight years, culminating in a significant spike to $237,600 in 2022. Comparatively, the state of Kentucky and the broader United States have also experienced rises, but Boone County’s growth outpaces both, with Kentucky reaching $177,000 and the national figure at $179,400 in the same period. This trend suggests Boone County might be an appealing option for potential investors or movers looking for property value appreciation.
Residential Energy Tax Credit Per Tax Return in Boone County, KY Over the Last 9 Years
Boone County, Kentucky has experienced fluctuations in average residential energy tax credits per tax return over the past nine years, indicating shifting energy efficiency investments or varying tax credit policies. Notable peaks in 2018 and 2021, with values soaring to $3,236.36 and $1,149.48 respectively, could suggest major incentivization programs or significant improvements in energy-efficient home upgrades during these years. These trends could be of interest to investors, homeowners, and real estate professionals focusing on residential energy improvements.
Average Real Estate Taxes Per Tax Return in Boone County, KY Over the Last 10 Years
Boone County, Kentucky has seen a noticeable increase in average real estate taxes over the past decade, from about $2,375.56 in 2012 to approximately $4,066.58 in 2021. This steady climb, with a sharp rise around 2017-2018, could be indicative of growing property values or increased county expenditures, which might be relevant for anyone considering an investment or relocation in this area. It suggests a potentially higher ongoing cost of homeownership, a factor worth considering for appraisers, insurance agents, and developers.
Percentage of Farm Returns in Boone County, KY Over the Last 10 Years
Boone County, Kentucky has seen a gradual decline in the percentage of farm tax returns over the last ten years, dropping from around 1.37% in 2012 to just under 0.97% in 2021. Farm tax returns are used to report income and expenses related to farming activities, reflecting the economic footprint of agricultural operations in a given area. For those considering investing, moving, or developing property in Boone County, this trend might suggest a shift in the local economy or land use, potentially opening up opportunities for alternative industries and development projects.
Number of Mortgages by Occupancy Type in Boone County, KY Over the Last 5 Years in Boone County
Boone County, Kentucky, has seen fluctuating numbers in mortgage counts across different occupancy types over the last five years. Investment Properties and Principal Residences both peaked in 2021, with 326 and 13,916 mortgages respectively, before sharply declining in 2022. Second Residences remained consistently low but showed a slight peak in 2021 with 111 mortgages. For potential investors, understanding these shifts can signal changing demands in the market, affecting property values and rental yields. For residents considering buying or selling, these trends offer insights into market liquidity and competition. Meanwhile, appraisers and insurance agents might find these shifts indicative of evolving risk profiles or valuation perceptions in Boone County.
Economic Outlook
Boone County, Kentucky, has experienced a notable rise in the average taxable income per tax return, climbing from $62,209.61 in 2013 to $83,342.76 by 2021. This upward trend signals potential economic strength and could entice investors due to the area's increasing prosperity. Simultaneously, average state and local income taxes have risen—from $7,176.10 in 2012 to $13,350.95 in 2021—highlighting shifts in the fiscal landscape that may impact financial planning for residents and investors.... Read more
Average Taxable Income per Tax Return in Boone County, KY over the last 9 years
Boone County, Kentucky, has seen a consistent increase in the average taxable income per tax return over the past nine years. Starting at $62,209.61 in 2013, it has grown to $83,342.76 by 2021. This steady rise suggests potentially strong economic growth and could indicate a robust job market. Investors might find this upward trend appealing, as it hints at a region with increasing prosperity and spending power. For real estate agents and appraisers, the boost in income levels might correlate with higher property valuations and demand. Insurance agents may also see this as indicative of a clientele capable of investing in more comprehensive insurance products. The continuous growth trend appears promising for nearly anyone looking to engage with or move to Boone County.
Average State and Local Income Taxes Per Tax Return in Boone County, KY Over the Last 10 Years
Average state and local income taxes per tax return in Boone County, Kentucky have steadily increased over the past decade, rising from $7,176.10 in 2012 to $13,350.95 in 2021. Notable jumps occurred between 2017 and 2018, where taxes surged from $8,813.12 to $11,391.57, which could indicate significant economic or policy changes. This trend is crucial for potential investors and residents considering Boone County, as it reflects the evolving fiscal landscape and potential financial obligations.
Average Total Tax Liability Per Tax Return in Boone County, KY Over the Last 10 Years
Average total tax liability per tax return in Boone County, Kentucky has demonstrated a consistent upward trend over the past decade. Starting from $9,567.61 in 2012, the value saw a general increase, reaching a significant peak at $13,338.44 in 2021. This suggests a dynamic local economy and potentially rising incomes, which could appeal to potential investors and property developers looking for growing areas. For residents and those planning to move there, understanding this rise in tax liability might be crucial for financial planning.
Cost of Living in Boone County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,687 | $1,387 | $2,189 | $1,438 | $1,781 |
| 1 adult 4 children | $1,687 | $1,133 | $1,676 | $1,438 | $1,842 |
| 2 adults 3 children | $1,687 | $1,133 | $1,898 | $1,438 | $1,491 |
| 1 adult 3 children | $1,687 | $925 | $1,385 | $1,438 | $1,589 |
| 2 adults 2 children | $1,259 | $928 | $1,608 | $1,268 | $1,166 |
| 1 adult 2 children | $1,259 | $693 | $1,095 | $1,268 | $1,178 |
| 2 adults 1 child | $1,259 | $733 | $1,317 | $717 | $1,072 |
| 1 adult 1 child | $1,259 | $474 | $804 | $717 | $934 |
| 2 adults | $967 | $589 | $1,026 | $0 | $841 |
| 1 adult | $842 | $321 | $513 | $0 | $656 |
Safety trends & Data
Boone County, Kentucky's property crime rates have seen ups and downs over the past five years. Larceny-theft incidents peaked at 745 in 2022 after dropping to 500 in 2021. Burglary cases hit 70 in 2019, dipped to 20 in 2021, and climbed back to 45 in 2022. Motor vehicle thefts peaked at 49 in 2020 but fell to 11 by 2022. Embezzlement and fraud figures have been relatively steady, with slight upticks. Arson is on the rise toward 2022 but remains low overall. These fluctuations may be key for... Read more
Property Crime Trends in Boone County, KY Over the Last 5 Years
Over the last five years in Boone County, Kentucky, property crime rates have shown notable fluctuations. Larceny-theft incidents, which consistently dominate the statistics, peaked at 745 occurrences in 2022, up from a dip of 500 in 2021. Burglary cases spiked to 70 in 2019 before declining to a low of 20 in 2021, only to rise again to 45 in 2022. Meanwhile, motor vehicle thefts saw a peak at 49 in 2020 but were down to 11 by 2022. Embezzlement and fraud figures remained relatively steady, with slight increases over time. There's also an observed increase in arson towards 2022, though numbers remain low overall. These trends can inform potential investors, real estate agents, appraisers, and insurance agents about the fluctuating risk factors in the area, while those planning to build or move here may find it useful to assess both the potential for crime and the community's response to it.
Demographics
Boone County, Kentucky highlights a balanced male to female ratio with a slight predominance of females. The population skews towards the young adult and middle-aged demographics, with a substantial proportion aged 25 to 54. Educationally, residents often achieve a high school diploma at minimum, yet there is a notable segment with some college experience, showcasing a trend towards higher education. The racial composition is predominantly White, with smaller but diverse minority groups... Read more
Race Distribution in Boone County, Kentucky (2022)
Educational Attainment in Boone County, Kentucky (2022)
Age Distribution in Boone County, Kentucky
Citizen Population in Boone County, Kentucky (2022)
Political Trends & Data
Boone County, Kentucky, showed strong Republican leanings in the 2020 U.S. Presidential Election, with Republicans likely receiving around 67% of the vote. Democrats may have secured just over 31%, highlighting a notable gap between the major parties. Minor parties, including Libertarians, attracted minimal support, collectively capturing only a tiny portion of the total... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Boone County, Kentucky, exhibited significant Republican leanings in the 2020 U.S. Presidential Election, with Republicans potentially securing approximately 67% of the vote. Democrats, on the other hand, might have received just over 31%, which could indicate a substantial gap between the two major parties. Minor parties, including Libertarians and others, garnered minimal support, collectively accounting for only a small fraction of the total vote.
66.93% of voters voted for the Republican party in the 2020 Presidential Election
31.21% of voters voted for the Democrat party in the 2020 Presidential Election
1.47% of voters voted for the Livertarian party in the 2020 Presidential Election
0.39% of voters voted for the Other party in the 2020 Presidential Election
School Data
Boone County, Kentucky has shown a steady decrease in student-to-teacher ratios over the past decade, dropping from around sixteen to just over fifteen students per teacher by 2023. This trend suggests improved individual student attention and educational quality, nearing the national average of fourteen students per teacher. For investors or potential movers, such improvements in education can indicate a strong community and a promising future workforce. Real estate professionals could use... Read more
Student-to-teacher ratio in Boone County, Kentucky over the last 10 years
Boone County, Kentucky's student-to-teacher ratios over the past decade have seen a gradual decrease, starting with a high of around sixteen students per teacher and tapering to just over fifteen by 2023. This trend moves the county closer to the national average of fourteen students per teacher, suggesting potential improvement in individual student attention and overall educational quality. For investors or those looking to move, better education metrics can indicate a strong community and reliable future workforce. Real estate agents might leverage this data to appeal to families prioritizing education, while appraisers and insurance agents could see stable or increasing property values in areas with improving school systems.
