Bourbon County Real Estate and Livability Trends
Bourbon County, Kentucky's real estate market has seen significant growth, with median home values rising from $139,600 in 2015 to $187,700 in 2022, suggesting robust investment potential. Meanwhile, property crime trends have fluctuated, with notable decreases in larceny-theft but slight increases in burglary incidents. Rising local income and property taxes indicate possible changes in income... Read more
Bourbon County Market Trends
Median home values in Bourbon County, Kentucky have significantly risen from $139,600 in 2015 to $187,700 in 2022, outpacing both state and national averages. This surge suggests strong investment potential or growing demand for housing in this area. Residential energy tax credits also saw notable spikes in certain years, which may hint at increasing investments in energy-efficient renovations.... Read more
Median Value of Occupied Housing Units in Bourbon County, Kentucky Over the Last 8 Years
Median home values in Bourbon County, Kentucky have experienced substantial growth over the past eight years, with a noticeable surge from $139,600 in 2015 to $187,700 in 2022. This local increase appears to outpace the state of Kentucky, which saw values rise from $123,200 to $177,000 over the same period. Compared to the national median, which increased from $125,500 to $179,400, Bourbon County's upward trend could signal strong investment potential or escalation in demand for housing in the area. For prospective investors, homeowners, or developers, this trend underscores the evolving market dynamics in Bourbon County relative to both state and national averages.
Residential Energy Tax Credit Per Tax Return in Bourbon County, KY Over the Last 8 Years
Over the past eight years in Bourbon County, Kentucky, the average residential energy tax credit per tax return has had notable fluctuations, with significant increases seen in certain years. In 2019 and 2021, tax credits surged to $1,100.00 and $1,360.00 respectively, indicating possible shifts in energy conservation measures or incentives. These trends may signal growing investment opportunities for developers focusing on energy-efficient renovations and new builds, as well as a potentially lucrative market for real estate agents and appraisers. Insurance agents might also find these trends relevant when assessing property values and risks associated with energy use.
Average Real Estate Taxes Per Tax Return in Bourbon County, KY Over the Last 10 Years
Over the last decade, Bourbon County, Kentucky has experienced a noticeable increase in average real estate taxes per tax return. Starting from $1,815.53 in 2012, the taxes have shown a steady climb, with a more accelerated rise beginning around 2018. This spike took the average from about $2,135.60 in 2017 to a significant $3,455.26 by 2021. Such upward movement in real estate taxes could be indicative of rising property values, local government budget changes, or enhanced public services, all of which are crucial for prospective investors, homeowners, and professionals in the real estate and insurance markets to consider.
Percentage of Farm Returns in Bourbon County, KY Over the Last 10 Years
Over the past decade, the percentage of farm tax returns in Bourbon County, Kentucky, has exhibited a gradual yet consistent decline, starting from approximately 9.41% in 2012 and dropping to around 8.03% in 2021. Farm tax returns are indicator metrics often tied to the agricultural sector's economic health, representing the portion of taxpayers reporting farm income. This trend may suggest shifts in the local agricultural economy, potentially influencing land values, investment opportunities, and development considerations.
Number of Mortgages by Occupancy Type in Bourbon County, KY Over the Last 5 Years in Bourbon County
Within Bourbon County, Kentucky, over the last five years, there has been a noticeable trend in the number of mortgages by occupancy type. Principal residence mortgages consistently dominate the market, peaking in 2021 but showing some fluctuations. Investment properties, although much fewer, display a gradual increase, which may indicate growing interest from investors in the area. Second residences remain minimal and stable, suggesting limited demand for vacation homes or secondary living spaces. These variations in occupancy type are crucial for investors, appraisers, and real estate agents as they reflect changing demand dynamics, influencing property valuations, insurance rates, and the types of properties developed and marketed.
Economic Outlook
Bourbon County, Kentucky has experienced a steady rise in average taxable income per tax return, jumping from roughly $41,344.38 in 2013 to about $65,697.15 in 2021, which suggests a growing local economy. Concurrently, state and local income taxes per tax return surged from $6,965.02 in 2012 to $14,860.00 in 2021, peaking notably in 2018. Additionally, average total tax liability per tax return increased significantly, from $7,344.41 in 2012 to $11,425.53 by 2021, pointing to possible changes... Read more
Average Taxable Income per Tax Return in Bourbon County, KY over the last 9 years
Over the past nine years, Bourbon County, Kentucky has seen a noticeable increase in average taxable income per tax return, rising from around $41,344.38 in 2013 to approximately $65,697.15 in 2021. This upward trend, particularly sharp from 2017 to 2021, suggests a growing local economy and potentially higher standards of living. Investors, real estate agents, and those looking to move to the area might find this trend indicative of promising economic opportunities and a region on the rise. However, it’s wise to consider other economic factors and local developments as well.
Average State and Local Income Taxes Per Tax Return in Bourbon County, KY Over the Last 10 Years
Bourbon County, Kentucky has seen a significant upward trend in average state and local income taxes per tax return over the last decade, increasing from $6,965.02 in 2012 to a hefty $14,860.00 in 2021. Notably, there was a sharp spike in taxes around 2018 reaching $14,102.27, which may indicate economic shifts or policy changes affecting taxpayers. This rising tax burden could be a critical factor for potential investors, homebuilders, and new residents to consider, as it impacts the overall cost of living and investment return calculations.
Average Total Tax Liability Per Tax Return in Bourbon County, KY Over the Last 10 Years
Bourbon County, Kentucky, has seen a noticeable rise in the average total tax liability per tax return over the last decade, with significant increases particularly in recent years. From $7,344.41 in 2012, the amount has surged to $11,425.53 by 2021. This trend highlights a potential increase in income levels or changes in tax policies affecting residents. Such financial dynamics may shape decisions for anyone considering investing, relocating, or developing property in this county.
Cost of Living in Bourbon County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,089 | $1,259 | $1,789 | $1,438 | $1,255 |
| 1 adult 4 children | $1,089 | $1,028 | $1,367 | $1,438 | $1,351 |
| 2 adults 3 children | $1,089 | $1,028 | $1,553 | $1,438 | $1,044 |
| 1 adult 3 children | $1,089 | $839 | $1,131 | $1,438 | $1,120 |
| 2 adults 2 children | $799 | $842 | $1,317 | $1,268 | $904 |
| 1 adult 2 children | $799 | $629 | $894 | $1,268 | $847 |
| 2 adults 1 child | $799 | $665 | $1,080 | $717 | $833 |
| 1 adult 1 child | $799 | $430 | $658 | $717 | $705 |
| 2 adults | $659 | $534 | $844 | $0 | $672 |
| 1 adult | $550 | $292 | $422 | $0 | $522 |
Safety trends & Data
Bourbon County, Kentucky has shown fluctuating property crime trends. Larceny-theft peaked at 37.0 cases in 2019 but dropped to 15.0 cases by 2022. Burglary incidents gradually increased from 5.0 cases in 2019 to 11.0 in 2022. Vandalism and fraud have remained mostly constant with minor variations. Sporadic shifts in stolen property cases might also be noteworthy. These evolving crime trends could be key for prospective investors, real estate agents, or residents assessing property... Read more
Property Crime Trends in Bourbon County, KY Over the Last 5 Years
Bourbon County, Kentucky has experienced fluctuating trends in property crime over the past five years. Larceny-theft consistently tops the list, peaking at 37.0 cases in 2019 before dropping to 15.0 cases in 2022. Burglary incidents saw a gradual increase, starting from 5.0 cases in 2019 to 11.0 cases in 2022. Vandalism and fraud incidents have remained relatively steady, with minor variations. Stolen property cases, though sporadic, also present shifts that might be of interest. These trends could be key indicators for prospective investors, real estate agents, or residents considering the area's evolving property safety landscape.
Demographics
Bourbon County, Kentucky, shows a slight female majority in its adult population. When it comes to educational attainment, there seems to be a significant portion who have only high school diplomas or less, with fewer holding advanced degrees. The age distribution skews towards middle-aged and older adults, hinting at possible future shifts in community needs and services. Racially, the county is predominantly White, with small minority populations, which may influence the county's cultural and... Read more
Race Distribution in Bourbon County, Kentucky (2022)
Educational Attainment in Bourbon County, Kentucky (2022)
Age Distribution in Bourbon County, Kentucky
Citizen Population in Bourbon County, Kentucky (2022)
Political Trends & Data
Bourbon County, Kentucky, appeared to have a strong conservative leaning during the 2020 U.S. Presidential Election, with over 64% of the votes reportedly going to the Republican candidate. This tendency could hint at a dominant conservative presence in the community, possibly influencing local real estate preferences and developments. Such a pattern might affect everything from the types of properties in demand to the kinds of amenities that are prioritized, creating a unique market... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Bourbon County, Kentucky, likely leaned heavily Republican in the 2020 U.S. Presidential Election, with over 64% of votes seemingly going to the Republican candidate. Democrats may have garnered around 34% of the vote, while other parties, including the Libertarians and independents, captured only a small fraction of the total. This voting pattern might suggest a strong conservative presence in the county.
64.19% of voters voted for the Republican party in the 2020 Presidential Election
34.18% of voters voted for the Democrat party in the 2020 Presidential Election
1.10% of voters voted for the Livertarian party in the 2020 Presidential Election
0.53% of voters voted for the Other party in the 2020 Presidential Election
School Data
Over the past decade, Bourbon County, Kentucky, has shown student-to-teacher ratios fluctuating between 17 and 21, consistently exceeding the national average of 14. For potential investors or new residents, this could indicate larger class sizes, potentially affecting education quality and individual student attention. Families prioritizing education may find this critical, while real estate agents could use these metrics to highlight local school characteristics, and appraisers and insurance... Read more
Student-to-teacher ratio in Bourbon County, Kentucky over the last 10 years
Over the past decade, Bourbon County, Kentucky has shown fluctuations in its student-to-teacher ratio, ranging from a high of 21 in 2020 to a low of about 17 in recent years. These numbers consistently exceed the national average of 14 students per teacher. For those looking to invest in or move to the area, such a ratio could suggest larger class sizes which might impact the quality of education and individual student attention. This could be a critical factor for families prioritizing education or for real estate agents looking to highlight local school characteristics. Additionally, appraisers and insurance agents may consider these figures when evaluating property values, as education metrics often influence market trends.
