Clay County Real Estate and Livability Trends
Clay County, Kentucky, has seen its average taxable income per tax return rise from $34,573.33 in 2013 to $41,358.65 in 2021, reflecting potential economic enhancement and new real estate opportunities. However, fluctuations in state and local income taxes, peaking at $7,944.44 in 2019, and an upward trend in total tax liability, reaching $4,718.73, indicate financial pressures that could impact... Read more
Clay County Market Trends
Clay County, Kentucky, has shown a noteworthy rise in median home values over the past eight years, climbing from $56,300 in 2015 to $73,500 in 2022, although still well below Kentucky's state average and the national average. Meanwhile, residential energy tax credits have seen ups and downs, peaking at $511.11 in 2016, reflecting varying investments in home energy efficiency. Real estate taxes... Read more
Median Value of Occupied Housing Units in Clay County, Kentucky Over the Last 8 Years
Clay County, Kentucky has shown a distinct upward trend in median home values over the last eight years, rising from $56,300 in 2015 to $73,500 in 2022. While this growth is notable, it still remains significantly below Kentucky's state average, which increased from $123,200 to $177,000 in the same period, and the national average, reaching $179,400 in 2022. This disparity could present an investment opportunity for those looking to enter the market at a lower cost or for prospective homeowners seeking more affordable options compared to state and national levels.
Residential Energy Tax Credit Per Tax Return in Clay County, KY Over the Last 8 Years
Over the last eight years, Clay County, Kentucky has seen fluctuating average residential energy tax credits per tax return, reflecting varying levels of home energy efficiency investments. Notably, there was a significant peak in 2016 at $511.11, suggesting a surge in energy-efficient upgrades during that year. While values dipped in 2017 to $250.00, they rebounded by 2019 with intermittent increases, hitting $450.00 in 2020. This variability might be critical for investors, real estate agents, and insurance agents, as it could indicate periods of higher energy efficiency investments, which might impact property values and insurance premiums.
Average Real Estate Taxes Per Tax Return in Clay County, KY Over the Last 10 Years
Over the last decade, real estate taxes per tax return in Clay County, Kentucky, have generally trended upwards, starting at $1,226.67 in 2012 and peaking at $2,112.50 in 2018. There was notable volatility post-2017, with values fluctuating significantly. This matters for potential investors, real estate developers, and insurance agents, as the increasing and somewhat erratic tax burden could influence the county's property market and living costs. For appraisers and locals, understanding these shifts helps provide a clearer picture of long-term financial commitments tied to home ownership in the area.
Percentage of Farm Returns in Clay County, KY Over the Last 10 Years
Over the past decade, Clay County, Kentucky has seen some fluctuations in the percentage of farm tax returns. In 2012, farm returns were at approximately 4.45%, but there's been a general downward trend, with occasional upticks, notably around 2019 at about 4.17%. By 2021, the rate dipped slightly to around 3.55%. Farm tax returns, which represent the percentage of total tax filings from farming activities, can be a useful indicator for those looking to invest, build, or move to the area, reflecting shifts in agricultural profitability and land use. This could imply opportunities or challenges in the local agricultural business climate.
Number of Mortgages by Occupancy Type in Clay County, KY Over the Last 5 Years in Clay County
Clay County, Kentucky has seen a noticeable shift in mortgage counts for different occupancy types over the past five years. Principal residences dominate the market, with numbers peaking in 2021 and 2020 at 527 mortgages each. This strong demand suggests a solid local housing market potentially good for families and long-term residents. However, investment properties and second residences have seen lower and more erratic numbers, with investment property mortgages declining from 7 in 2018 to just 3 in 2022. The minimal involvement in investment and secondary properties could indicate fewer opportunities for short-term rental income or vacation home markets, impacting investor strategies. For appraisers, real estate agents, and insurance agents, understanding these shifts can influence property valuations, sales tactics, and risk assessments.
Economic Outlook
Clay County, Kentucky has been experiencing a steady upward trend in average taxable income per tax return, rising from $34,573.33 in 2013 to $41,358.65 in 2021. This consistent growth suggests economic enhancement, potentially boosting living standards and creating new opportunities for real estate agents, insurers, and investors. Meanwhile, the county has also seen fluctuations in average state and local income taxes, peaking at $7,944.44 in 2019, which implies a rising tax burden that could... Read more
Average Taxable Income per Tax Return in Clay County, KY over the last 9 years
Over the past nine years, Clay County, Kentucky has seen a steady upward trend in average taxable income per tax return, moving from $34,573.33 in 2013 to $41,358.65 in 2021. The consistent increase, especially the notable jump in 2021, could imply economic growth and potentially rising living standards. This might be of particular interest to real estate agents, insurers, investors, and appraisers looking for markets with positive financial trends. The gradual growth also suggests a stable economic environment, making it an attractive prospect for potential homeowners and property developers.
Average State and Local Income Taxes Per Tax Return in Clay County, KY Over the Last 10 Years
Over the past decade, Clay County, Kentucky, has seen notable fluctuations in average state and local income taxes per tax return, with values ranging from $5,373.33 in 2013 to a high of $7,944.44 in 2019. Recent years have shown substantial increases, particularly in 2018 and 2019, indicating a rising tax burden. This trend impacts prospective investors and residents who should consider the evolving fiscal landscape in financial planning and property investments in the area.
Average Total Tax Liability Per Tax Return in Clay County, KY Over the Last 10 Years
Over the past decade, Clay County, Kentucky has seen some fluctuations in the average total tax liability per tax return. Starting at $4,296.46 in 2012, there were slight variations before a notable increase to $4,655.78 in 2020 and climbing higher to $4,718.73 in 2021. This upward trend in the last few years may be indicative of changing economic conditions and could be a critical factor for prospective investors and residents considering the financial landscape of the area.
Cost of Living in Clay County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,055 | $1,235 | $1,722 | $1,100 | $1,049 |
| 1 adult 4 children | $1,055 | $1,008 | $1,317 | $1,100 | $1,092 |
| 2 adults 3 children | $1,055 | $1,009 | $1,495 | $1,100 | $859 |
| 1 adult 3 children | $1,055 | $823 | $1,089 | $1,100 | $868 |
| 2 adults 2 children | $742 | $826 | $1,267 | $954 | $732 |
| 1 adult 2 children | $742 | $617 | $861 | $954 | $633 |
| 2 adults 1 child | $742 | $653 | $1,039 | $480 | $688 |
| 1 adult 1 child | $742 | $421 | $633 | $480 | $570 |
| 2 adults | $599 | $524 | $811 | $0 | $596 |
| 1 adult | $595 | $286 | $406 | $0 | $514 |
Safety trends & Data
Clay County, Kentucky, has experienced a rollercoaster in property crime rates over the past half-decade, with burglary and larceny-theft seeing notable spikes in 2019 (6 and 13 cases, respectively). However, motor vehicle theft dropped dramatically from 6 in 2019 to just 1 by 2021. Fraud cases remained minimal but consistent, peaking at 2 in 2019 and 2020. High levels of stolen property offenses, peaking at 10 in 2019, can sway property values, insurance costs, and investment appeal in the... Read more
Property Crime Trends in Clay County, KY Over the Last 5 Years
Clay County, Kentucky, has seen fluctuating property crime rates over the past five years. Notably, there was a spike in burglary and larceny-theft incidents in 2019 with 6 and 13 occurrences respectively, and a significant drop in motor vehicle theft between 2019 and 2021 from 6 to 1. The consistency in fraud cases suggests a stable but minimal threat, peaking slightly in 2019 and 2020 with 2 occurrences. It's interesting to note that stolen property offenses, including buying, receiving, and possessing, remained relatively high across all years, peaking in 2019 at 10 incidents. These trends could influence property values, insurance premiums, and the attractiveness of investment in this region.
Demographics
Clay County, Kentucky displays an adult population skew with more males than females. Educational attainment showcases a substantial portion holding a high school diploma or equivalent, though fewer proceed to higher educational degrees. Age distribution suggests a predominantly working-age population, though there's a sizable young demographic as well. Racially, the county remains overwhelmingly White, with other racial groups represented minimally. This demographic structure may imply a... Read more
Race Distribution in Clay County, Kentucky (2022)
Educational Attainment in Clay County, Kentucky (2022)
Age Distribution in Clay County, Kentucky
Citizen Population in Clay County, Kentucky (2022)
Political Trends & Data
Clay County, Kentucky, showed a pronounced preference for the Republican party in the 2020 U.S. Presidential Election, with the GOP capturing about 88% of the vote. The Democratic party managed around 11%, leaving Libertarians and others with just over 1%. This political landscape may hint at a strong conservative mindset among residents, which could influence local policies and community development... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Clay County, Kentucky, the 2020 U.S. Presidential Election results showed a significant leaning toward the Republican party, garnering around 88% of the vote. Democrats received approximately 11%, while Libertarians and other parties combined secured just over 1%. This distribution may suggest a strong conservative base within the county.
87.97% of voters voted for the Republican party in the 2020 Presidential Election
10.95% of voters voted for the Democrat party in the 2020 Presidential Election
0.53% of voters voted for the Livertarian party in the 2020 Presidential Election
0.55% of voters voted for the Other party in the 2020 Presidential Election
School Data
In Clay County, Kentucky, the student-to-teacher ratio has remained close to the national average of 14 over the past decade. However, it peaked in 2020 at just over 14, then dropped to around 12 in the following years. These shifts could impact investment decisions, school funding, and real estate values, as lower ratios often indicate more individualized attention for students, enhancing the area's appeal to families. Such changes might also signal broader demographic trends or shifts in... Read more
Student-to-teacher ratio in Clay County, Kentucky over the last 10 years
In Clay County, Kentucky, the student-to-teacher ratio has fluctuated over the last decade but has generally hovered close to the national average of 14 students per teacher. The ratio peaked in 2020 at just over 14 before dropping to nearly 12 in subsequent years. These changes in student-to-teacher ratios might influence investment decisions, school funding, and real estate values since lower ratios can be indicative of more individualized attention for students, potentially making the area more attractive for families. Additionally, shifts in this ratio could hint at broader demographic changes or resource allocation trends within the county's education system, relevant for appraisers, insurance agents, and developers considering new projects.
