Boyle County Real Estate and Livability Trends
Boyle County, Kentucky's average taxable income has surged from $48,850.71 in 2013 to $65,137.43 in 2021, hinting at possible economic growth and its impact on property values. The median home value also witnessed a 35.68% rise over the past eight years, reaching $179,800 in 2022, surpassing both national and state medians slightly. The area's real estate taxes nearly doubled from 2012 to 2021,... Read more
Boyle County Market Trends
Median home values in Boyle County, Kentucky experienced a significant increase over the past 8 years, reaching $179,800 in 2022—a 35.68% uptick that slightly surpasses both national and state medians. Residential energy tax credits in the area have fluctuated significantly, hitting highs of $1,542.86 per tax return in 2021, possibly reflecting changing policies or increased energy-efficiency... Read more
Median Value of Occupied Housing Units in Boyle County, Kentucky Over the Last 8 Years
Median home values in Boyle County, Kentucky have seen a remarkable uptick over the past 8 years, culminating at $179,800 in 2022—a 35.68% increase since 2015. This localized spike parallels broader trends, with national values also rising to $179,400, but Boyle County's 2022 value marginally surpasses the national median. When compared to the state, Boyle County's growth slightly outpaces Kentucky's overall increase, as the median value for the state reached $177,000 last year. These trends could signal robust investment potential and suggest a thriving real estate market in Boyle County, making it an intriguing spot for prospective homeowners and investors alike.
Residential Energy Tax Credit Per Tax Return in Boyle County, KY Over the Last 8 Years
Residential energy tax credits in Boyle County, Kentucky have varied considerably over the last eight years, with notable spikes in certain years. In 2017, the credit saw a pronounced increase to $853.85, and in 2021, it soared to $1542.86 per tax return. These fluctuations could signal changing local policies, economic factors, or increased adoption of energy-efficient technologies. For those looking to invest or settle in Boyle County, these trends may suggest growing incentives for energy-efficient improvements, potentially impacting property values and insurance considerations.
Average Real Estate Taxes Per Tax Return in Boyle County, KY Over the Last 10 Years
Over the past decade, Boyle County, Kentucky has seen a substantial increase in average real estate taxes per tax return, escalating from around $2,065.68 in 2012 to approximately $3,943.75 by 2021. This notable rise, particularly sharp from 2017 onwards, could indicate heightened property values or changes in tax policies, making it imperative for prospective investors, real estate agents, and homeowners to consider these fluctuations when evaluating the market. For insurance agents and appraisers, understanding these trends is critical for accurate property assessments and policy decisions.
Percentage of Farm Returns in Boyle County, KY Over the Last 10 Years
Boyle County, Kentucky has seen a slight decline in the percentage of farm tax returns over the last decade, dropping from approximately 5.47% in 2012 to around 4.12% in 2021. Farm tax returns serve as an indicator of agricultural activity and economic health in the region, with the percentage change suggesting potential shifts in the county’s agricultural landscape or farming profitability. This trend might be relevant for investors, new residents, or property developers looking at agricultural investments or land use changes in Boyle County. Potential shifts in farm activity could influence local markets, property values, and community demographics.
Number of Mortgages by Occupancy Type in Boyle County, KY Over the Last 5 Years in Boyle County
In Boyle County, Kentucky, principal residence mortgages have consistently dominated, peaking in 2021 at 1,554 before a noticeable drop to 1,044 in 2022. Investment property mortgages show a more modest trend, holding relatively steady with slight increases, yet peaking at 78 in 2022. Second residence mortgages remain significantly less common but saw the highest count of 26 in 2021. These shifts in occupancy types can be vital for stakeholders as they may signal changing homeowner priorities, potential shifts in market demand for different property types, and evolving investment opportunities. Understanding these trends can help investors discern market dynamics, guide insurers in risk assessment, and support real estate agents in market positioning.
Economic Outlook
Boyle County, Kentucky has seen notable trends in taxable income, with average per tax return figures rising from $48,850.71 in 2013 to $65,137.43 in 2021, suggesting economic growth that could influence property values. Alongside this, state and local income taxes per tax return have nearly doubled over the past decade, indicating substantial economic shifts which may be tied to rising incomes or tax policy changes. Average total tax liability per tax return has also increased over the years,... Read more
Average Taxable Income per Tax Return in Boyle County, KY over the last 9 years
Over the past nine years, Boyle County, Kentucky has seen a steady increase in average taxable income per tax return. Starting at $48,850.71 in 2013 and rising to $65,137.43 in 2021, this nearly $20,000 jump suggests robust economic growth and potentially increasing property values. For investors, real estate agents, and residents, these income trends could indicate a stable and potentially lucrative market for both living and investment.
Average State and Local Income Taxes Per Tax Return in Boyle County, KY Over the Last 10 Years
Over the past decade, Boyle County, Kentucky has experienced a significant rise in state and local income taxes per tax return, almost doubling from $6,675.27 in 2012 to $13,881.63 in 2021. This trend suggests substantial economic shifts possibly linked to rising incomes or changes in tax policies. For investors, builders, or potential residents, understanding these trends is crucial in predicting future economic conditions and tax burdens.
Average Total Tax Liability Per Tax Return in Boyle County, KY Over the Last 10 Years
Over the past decade, Boyle County, Kentucky has experienced a gradual increase in average total tax liability per tax return, peaking significantly in 2021 at $10,251.17. There have been notable fluctuations, such as a rise to $8,305.13 in 2015 and a subsequent dip to $8,110.41 in 2018, suggesting varied economic factors influencing tax liabilities. This trend indicates a possibly evolving economic landscape, making it crucial for potential investors and residents to consider long-term financial planning and tax strategies when considering Boyle County.
Cost of Living in Boyle County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,097 | $1,339 | $1,752 | $1,362 | $1,199 |
| 1 adult 4 children | $1,097 | $1,094 | $1,339 | $1,362 | $1,280 |
| 2 adults 3 children | $1,097 | $1,094 | $1,520 | $1,362 | $987 |
| 1 adult 3 children | $1,097 | $893 | $1,108 | $1,362 | $1,024 |
| 2 adults 2 children | $813 | $896 | $1,288 | $1,204 | $846 |
| 1 adult 2 children | $813 | $669 | $876 | $1,204 | $771 |
| 2 adults 1 child | $813 | $708 | $1,057 | $692 | $789 |
| 1 adult 1 child | $813 | $457 | $644 | $692 | $665 |
| 2 adults | $618 | $569 | $825 | $0 | $622 |
| 1 adult | $590 | $310 | $412 | $0 | $528 |
Safety trends & Data
Boyle County, Kentucky has seen fluctuations in property crimes over the last five years, with notable trends for real estate stakeholders to consider. Burglary incidents peaked at 33 in 2020 but dropped to 17 by 2022. Larceny-theft increased to 38 cases in 2022, remaining the most common offense overall. Motor vehicle theft consistently stayed low, with fewer than 5 incidents annually, while fraud plummeted from 15 cases in 2018 and 2019 to just 3 in 2021. Vandalism spiked in 2022 with 15... Read more
Property Crime Trends in Boyle County, KY Over the Last 5 Years
Boyle County, Kentucky has experienced some fluctuations in property crimes over the last five years. Of particular note, burglary incidents peaked in 2020 with 33 reported cases but have since decreased to 17 by 2022. Larceny-theft has remained the most common offense, showing a varied pattern with a noticeable increase to 38 in 2022. Motor vehicle theft has generally stayed low, consistently under 5 incidents per year. Fraud saw a significant drop from 15 cases in 2018 and 2019 to just 3 in 2021. Vandalism showed a spike in 2022 with 15 reported cases, demonstrating the only substantial rise in its category over the time period. These shifts are worth considering for potential investors, appraisers, and real estate agents evaluating the area's safety and desirability.
Demographics
Boyle County, Kentucky demonstrates a relatively balanced gender distribution among adults, with males and females nearly equal in number. Education levels show a substantial portion of residents possessing a high school diploma or some college education, though higher degrees are less common. The age demographic leans toward a middle-aged majority, with significant populations in both the 25-34 and 55-64 year ranges. The racial makeup is predominantly white with a notable African American... Read more
Race Distribution in Boyle County, Kentucky (2022)
Educational Attainment in Boyle County, Kentucky (2022)
Age Distribution in Boyle County, Kentucky
Citizen Population in Boyle County, Kentucky (2022)
Political Trends & Data
Boyle County, Kentucky shows a strong leaning toward Republican preferences, with about 61% of voters favoring GOP candidates in the 2020 U.S. Presidential Election. Democrats received around 37%, while Libertarians got under 1.5%, indicating a predominantly conservative voter base. This can suggest a potentially stable community with traditional values, which may influence local real estate preferences and development... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Boyle County, Kentucky, the 2020 U.S. Presidential Election results indicated a notably higher preference for Republican candidates, with approximately 61% of the vote, compared to around 37% for Democrats. Libertarians received a modest share at just under 1.5%, while other parties garnered minimal support. This distribution suggests a predominantly conservative voter base in the county, though a sizable portion of the electorate did support more liberal or alternative choices.
61.33% of voters voted for the Republican party in the 2020 Presidential Election
36.62% of voters voted for the Democrat party in the 2020 Presidential Election
1.45% of voters voted for the Livertarian party in the 2020 Presidential Election
0.60% of voters voted for the Other party in the 2020 Presidential Election
School Data
Boyle County, Kentucky has seen its student-to-teacher ratio fluctuate, starting at 13 in 2014 and dipping to as low as 11.91 in 2022, before slightly increasing again in 2023. These shifts could indicate changes in funding, population, and educational policies, impacting property values and community attractiveness. Lower ratios might suggest more personalized attention for students, making the area appealing to families and potentially influencing real estate market trends. Understanding... Read more
Student-to-teacher ratio in Boyle County, Kentucky over the last 10 years
Boyle County, Kentucky has generally exhibited a student-to-teacher ratio that fluctuates around or below the national average of 14 students per teacher over the past decade. Starting at roughly 13 in 2014, the ratio rose to nearly 15 by 2016 before decreasing to a low of 11.91 in 2022 and slightly climbing again in 2023. This relatively low ratio may suggest more personalized attention for students, potentially attracting families seeking a more engaged educational environment. However, variations in these numbers over the years could reflect underlying shifts in funding, population, and educational policies, which carry implications for potential investors, real estate agents, and those looking to move to the area. Understanding these trends is crucial for making informed decisions in property development, school appraisals, and assessing overall community growth and educational quality.
