Boyd County Real Estate and Livability Trends
Boyd County, Kentucky's housing market has appreciated steadily from a median home value of $99,700.00 in 2015 to $129,000.00 in 2022, though it trails behind the state and national medians. Over this period, there have been dramatic peaks in residential energy tax credits, possibly revealing rising interest in energy-efficient home improvements. Real estate taxes have nearly doubled,... Read more
Boyd County Market Trends
Boyd County, Kentucky's housing market has appreciated steadily from a median home value of $99,700 in 2015 to $129,000 in 2022, though it trails behind the state and national medians. Over the same period, residential energy tax credits per return saw dramatic peaks, possibly revealing a growing interest in energy-efficient home improvements. Real estate taxes have nearly doubled, highlighting... Read more
Median Value of Occupied Housing Units in Boyd County, Kentucky Over the Last 8 Years
In Boyd County, Kentucky, the median home value has steadily increased over the past eight years, rising from $99,700 in 2015 to $129,000 in 2022. This 29.41% increase underscores a growing housing market in the county. Comparatively, Kentucky’s state median saw a similar upwards trajectory but reached $177,000 in 2022, reflecting a stronger overall performance. Nationally, home values escalated more significantly to $179,400, marking the broader national housing market’s robust growth. For investors or those considering a move to Boyd County, the data suggests an upward trend but also highlights more modest gains relative to state and nationwide markets.
Residential Energy Tax Credit Per Tax Return in Boyd County, KY Over the Last 8 Years
Over the last eight years in Boyd County, Kentucky, there has been a noticeable fluctuation in the average residential energy tax credit per tax return. Starting at $360.38 in 2013 and experiencing a significant rise and dip, it peaked dramatically at $1,260.00 in 2021. This upward trend, especially the sharp increase from 2017 onwards, might suggest growing interest in energy-efficient home improvements or favorable policy changes. This can be a crucial insight for investors, real estate agents, and those looking to build property, as energy efficiency credits can directly impact property values and long-term savings.
Average Real Estate Taxes Per Tax Return in Boyd County, KY Over the Last 10 Years
Real estate taxes in Boyd County, Kentucky have seen a general upward trend over the past decade, starting at approximately $1,951.69 in 2012 and peaking at about $3,967.27 in 2021. Notable spikes, particularly in 2018 when taxes surged to around $3,786.59 from $2,373.54 the previous year, could indicate shifts in property values or changes in local tax policies. Such fluctuations matter for potential investors, homeowners, and real estate professionals as they imply rising costs of property ownership in the area. Higher real estate taxes can also impact affordability and the overall economic landscape of Boyd County.
Percentage of Farm Returns in Boyd County, KY Over the Last 10 Years
Over the last decade, Boyd County, Kentucky has seen a slight decline in the percentage of farm tax returns filed, starting at approximately 1.43% in 2012 and dropping to around 1.17% by 2021. Farm tax returns reflect the number of tax filings specifically related to agricultural activities, and this downward trend indicates a potential reduction in farming operations or consolidation of farm properties. For those considering investment, development, or relocation to Boyd County, this trend could imply a shift in land use practices, potentially opening opportunities for different types of developments or investments in new agricultural technologies.
Number of Mortgages by Occupancy Type in Boyd County, KY Over the Last 5 Years in Boyd County
Changes in mortgage occupancy types in Boyd County, Kentucky over the last five years show a clear dominance of principal residences, with numbers peaking in 2021 at 2,434, while investment property and second residence mortgages lag far behind. The fluctuating interest in investment properties, ranging from 93 in 2018 to 160 in 2022, indicates varying investor confidence and potential opportunities for those looking to profit from rental markets. The minimal numbers for second residences, never surpassing 34 annually, suggest limited demand for vacation homes, which might influence future development plans and insurance assessments. For potential investors, real estate agents, and appraisers, these trends can provide critical insights into market dynamics, affecting everything from property valuation to risk assessment strategies.
Economic Outlook
Boyd County, Kentucky's average taxable income per tax return has trended upwards from $50,094.24 in 2013 to $60,336.57 in 2021, with notable growth spurts between 2017-2018 and 2020-2021. The average state and local income taxes have also risen significantly, jumping from $6,947.84 in 2012 to $14,292.86 in 2021. Additionally, average total tax liabilities have seen an increase, reaching around $8,903.86 in 2021. This data could be pivotal for investors and developers as it signals economic... Read more
Average Taxable Income per Tax Return in Boyd County, KY over the last 9 years
Average taxable income per tax return in Boyd County, Kentucky has shown a general upward trend over the past nine years, starting from $50,094.24 in 2013 to $60,336.57 in 2021. Notable increases were observed from 2017 to 2018, and again in 2020 to 2021, which may be of interest to investors, property developers, and local real estate agents as an indicator of economic growth in the area. This upward trend, though inconsistent at times, offers a promising outlook for potential financial stability and attractiveness of the county for new residents and businesses alike.
Average State and Local Income Taxes Per Tax Return in Boyd County, KY Over the Last 10 Years
Boyd County, Kentucky has seen a notable increase in average state and local income taxes per tax return over the past decade. Starting at $6,947.84 in 2012, taxes rose steadily until a significant spike in 2018, reaching $11,828.00 and subsequently climbing to $14,292.86 in 2021. This trend underscores a considerable rise in tax liabilities that potential investors, new residents, and property developers should factor into their financial planning. For locals, this jump may reflect broader economic changes or shifts in local policy impacting personal finances.
Average Total Tax Liability Per Tax Return in Boyd County, KY Over the Last 10 Years
In the past decade, Boyd County, Kentucky has seen fluctuations in average total tax liability per tax return, with a notable upward trend. Tax liabilities have generally hovered around the mid $7,000s to low $8,000s, spiking to an approximate $8,903.86 in 2021. This could indicate growing economic activity or changes in income levels. For potential investors or those looking to relocate, it's a sign of the evolving financial landscape, which might influence property values and cost of living.
Cost of Living in Boyd County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,062 | $1,311 | $1,649 | $1,216 | $1,049 |
| 1 adult 4 children | $1,062 | $1,071 | $1,259 | $1,216 | $1,117 |
| 2 adults 3 children | $1,062 | $1,071 | $1,432 | $1,216 | $879 |
| 1 adult 3 children | $1,062 | $874 | $1,042 | $1,216 | $873 |
| 2 adults 2 children | $799 | $877 | $1,215 | $1,051 | $752 |
| 1 adult 2 children | $799 | $655 | $825 | $1,051 | $658 |
| 2 adults 1 child | $799 | $693 | $998 | $512 | $695 |
| 1 adult 1 child | $799 | $448 | $607 | $512 | $581 |
| 2 adults | $681 | $557 | $781 | $0 | $611 |
| 1 adult | $625 | $304 | $390 | $0 | $518 |
Safety trends & Data
Boyd County, Kentucky has seen interesting shifts in property crime trends. Burglary cases peaked in 2020 with 82 incidents, while larceny-theft was highest in 2019 at 311 cases before dropping to 173 in 2022. Motor vehicle theft remained consistently low, with a notable drop from 15 cases in 2018 to just 5 in both 2020 and 2021. Although fraud and vandalism have fluctuated, they've generally stayed lower compared to other crime types, suggesting varied investment risks and the necessity for... Read more
Property Crime Trends in Boyd County, KY Over the Last 5 Years
Boyd County, Kentucky has experienced notable shifts in property crime over the past five years. Burglary incidents peaked in 2020 with 82 reported cases, while larceny-theft has generally been the highest reported crime, hitting 311 cases in 2019 before seeing a drop, yet still remaining significant at 173 incidents in 2022. Motor vehicle theft numbers have remained relatively low and stable, with a highest of only 15 cases in 2018 and a notable dip to 5 cases in 2020 and 2021. In contrast, fraud-related crimes and vandalism incidents have fluctuated but remained on the lower end compared to other categories. This data suggests varying investment risks and a need for targeted security measures depending on property type and year.
Demographics
Boyd County, Kentucky shows a relatively balanced gender population, with a slight edge towards females. Educational attainment reveals that high school graduates and those with some college education form the largest groups, indicating potential challenges in attracting higher-degree professionals. Age distribution highlights a substantial older population, with a notable segment over 55 years, which could influence healthcare and social service needs. Racial diversity is minimal, with the... Read more
Race Distribution in Boyd County, Kentucky (2022)
Educational Attainment in Boyd County, Kentucky (2022)
Age Distribution in Boyd County, Kentucky
Citizen Population in Boyd County, Kentucky (2022)
Political Trends & Data
In Boyd County, Kentucky, the 2020 U.S. Presidential Election saw the Republican candidate capture roughly 65.8% of the vote, significantly overshadowing the Democratic candidate who garnered about 32.6%. This strong Republican tilt suggests that future political campaigns in Boyd County may benefit from aligning their strategies with conservative values to resonate with the local electorate, while minor parties barely made a dent with just over 1.6% of the vote share... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Boyd County, Kentucky, the 2020 U.S. Presidential Election results showed a notable preference for the Republican candidate, garnering approximately 65.8% of the vote, compared to around 32.6% for the Democratic candidate. Minor parties such as the Libertarian and other parties combined barely registered, making up just over 1.6% of the total vote share. This trend may suggest a strong Republican leaning within this county, indicating that political campaigns here might need to tailor their strategies accordingly.
65.75% of voters voted for the Republican party in the 2020 Presidential Election
32.58% of voters voted for the Democrat party in the 2020 Presidential Election
1.32% of voters voted for the Livertarian party in the 2020 Presidential Election
0.35% of voters voted for the Other party in the 2020 Presidential Election
School Data
Boyd County, Kentucky has experienced a noticeable decrease in the student-to-teacher ratio, going from around fifteen students per teacher in 2014 to just over eleven in 2023. This improvement could make the area more appealing to families and investors prioritizing education quality. With a ratio better than the national average of fourteen students per teacher, Boyd County students might receive more personalized attention, providing a potential selling point for real estate agents and... Read more
Student-to-teacher ratio in Boyd County, Kentucky over the last 10 years
Boyd County, Kentucky has seen a significant reduction in the student-to-teacher ratio over the past decade, dropping from approximately fifteen students per teacher in 2014 to just over eleven in 2023. This shift may indicate improved education quality, potentially making the area more attractive for families and investors focused on educational standards. Compared to the national average of fourteen students per teacher, Boyd County's lower ratio suggests students may receive more individualized attention. Such trends could be beneficial for real estate agents, appraisers, and insurance agents looking to highlight the county's educational advantages in their respective markets.
