Cumberland County Real Estate and Livability Trends
Median home values in Cumberland County, Kentucky, have surged from $63,500 in 2015 to $126,100 in 2022, indicating a robust market, possibly outpacing state and national trends. With real estate taxes nearly doubling from $1,051.61 in 2012 to $2,300.00 in 2021, this could imply rising property values and better public services. A spike in principal residence mortgages may hint at a growing local... Read more
Cumberland County Market Trends
Median home values in Cumberland County, Kentucky, have jumped from $63,500 in 2015 to $126,100 in 2022, showing a sharper upward trend compared to the state and national medians. Residential energy tax credits have fluctuated but saw a notable rebound in 2016, potentially signaling shifts in energy-efficient investments or incentives. Real estate taxes nearly doubled from $1,051.61 in 2012 to... Read more
Median Value of Occupied Housing Units in Cumberland County, Kentucky Over the Last 8 Years
Median home values in Cumberland County, Kentucky, have shown significant growth over the last eight years, jumping from $63,500 in 2015 to $126,100 in 2022. Despite being lower than the Kentucky state median of $177,000 and the national median of $179,400, Cumberland County's market has demonstrated a sharper upward trend, particularly between 2016 and 2020. For those looking to invest or move to the area, this rapid appreciation might indicate a rising market with potential for future gains.
Residential Energy Tax Credit Per Tax Return in Cumberland County, KY Over the Last 4 Years
Cumberland County, Kentucky has seen some fluctuations in residential energy tax credits over the past four years. The average credit per tax return started at $275.00 in 2013, dropped to $200.00 in 2014, and continued to decrease to $175.00 in 2015. Interestingly, there was a rebound in 2016 to approximately $266.67. This variable credit trend could suggest changing investments in energy-efficient improvements or shifts in state or federal incentives, providing potential opportunities for investors and homeowners to capitalize on energy-saving initiatives and related tax benefits.
Average Real Estate Taxes Per Tax Return in Cumberland County, KY Over the Last 10 Years
Real estate taxes in Cumberland County, Kentucky, have shown a notable upward trend over the past decade, increasing from around $1,051.61 in 2012 to approximately $2,300.00 in 2021. Significant hikes, especially between 2017 and 2019, suggest a rising property value and possibly enhanced public services or infrastructure. These increasing taxes could be indicative of a more desirable living environment, which could be an important factor for potential investors, appraisers, and real estate professionals evaluating the market's momentum and future potential.
Percentage of Farm Returns in Cumberland County, KY Over the Last 10 Years
Over the past decade, farm returns in Cumberland County, Kentucky, have seen various fluctuations. The percentage started at approximately 15.41% in 2012, peaked at 16.67% in 2016 and 2017, and dropped to around 13.42% in 2020. The most recent data for 2021 shows a slight recovery to about 14.19%. Farm tax returns reflect the profitability and financial health of agricultural operations. This trend is crucial for potential investors and property developers as it highlights the economic viability of farming in the county. Higher farm returns might suggest a stable agricultural sector, which can influence land value, investment opportunities, and local economic growth.
Number of Mortgages by Occupancy Type in Cumberland County, KY Over the Last 5 Years in Cumberland County
In Cumberland County, Kentucky, the mortgage data from the past five years shows a notable shift, with a substantial increase in the number of principal residence mortgages, peaking at 163 in 2021. Mortgages for second residences and investment properties have remained relatively stable but low, indicating a consistent preference or necessity for homes primarily serving as primary living spaces. These trends could signal a growing local population or a market favoring first-time homebuyers, impacting real estate values, rental market dynamics, and investment opportunities. Appraisers and insurance agents might also find these shifts critical for risk assessments and property valuation protocols in the area.
Economic Outlook
Cumberland County, Kentucky has seen a steady rise in average taxable income, growing from approximately $33,199.22 in 2013 to around $43,879.62 in 2021. This could signal a strengthening local economy, which may attract investors and new residents. Additionally, fluctuations in state and local income taxes, particularly a peak of $9,475.00 in 2018, highlight the importance of staying informed on tax trends for financial planning. The average total tax liability, peaking at $5,217.37 in 2021,... Read more
Average Taxable Income per Tax Return in Cumberland County, KY over the last 9 years
Average taxable income per tax return in Cumberland County, Kentucky has shown a steady increase over the past nine years, starting at approximately $33,199.22 in 2013 and rising to around $43,879.62 in 2021. This consistent growth in taxable income could indicate a strengthening local economy, potentially making this area more attractive for investors and those looking to move. Such trends might also influence real estate appraisals and insurance premiums, as higher income levels could suggest an improvement in overall economic conditions. Note that this general upward trend is crucial for real estate agents and developers looking to understand market potentials and living standards.
Average State and Local Income Taxes Per Tax Return in Cumberland County, KY Over the Last 10 Years
Cumberland County, Kentucky has seen notable fluctuations in average state and local income taxes per tax return over the last decade. From 2012 to 2021, figures rose from $4,887.50 to a peak of $9,475.00 in 2018 before settling to $6,600.00 in 2021. These variations can influence financial planning for potential investors and property developers in the area, suggesting that staying updated on tax trends is essential for managing costs effectively.
Average Total Tax Liability Per Tax Return in Cumberland County, KY Over the Last 10 Years
The average total tax liability per tax return in Cumberland County, Kentucky has shown a fluctuating yet generally upward trend over the last decade, peaking in 2021 at $5217.37. Notable increases can be observed from 2015 onward, suggesting variables such as economic policy changes, local growth, or shifts in the demographic income base may be influencing this rise. For potential investors, property developers, and those considering a move to the area, these trends might provide insight into the economic environment and fiscal responsibilities expected in Cumberland County.
Cost of Living in Cumberland County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $921 | $1,347 | $1,820 | $1,056 | $1,076 |
| 1 adult 4 children | $921 | $1,100 | $1,392 | $1,056 | $1,106 |
| 2 adults 3 children | $921 | $1,101 | $1,579 | $1,056 | $870 |
| 1 adult 3 children | $921 | $898 | $1,151 | $1,056 | $869 |
| 2 adults 2 children | $742 | $901 | $1,338 | $916 | $785 |
| 1 adult 2 children | $742 | $673 | $910 | $916 | $686 |
| 2 adults 1 child | $742 | $712 | $1,097 | $461 | $738 |
| 1 adult 1 child | $742 | $460 | $669 | $461 | $610 |
| 2 adults | $564 | $572 | $856 | $0 | $632 |
| 1 adult | $496 | $312 | $428 | $0 | $520 |
Safety trends & Data
Cumberland County, Kentucky has shown fluctuating property crime trends over the last four years, which could influence decisions for both residents and investors. Notably, burglary incidents spiked to 9 cases in 2020, while other years saw much lower numbers. There were also occasional spikes in crimes like stolen property, with 4 cases in 2019. Despite these variations, the overall property crime rate remains relatively low, possibly attracting those who prioritize safety in their investment... Read more
Property Crime Trends in Cumberland County, KY Over the Last 4 Years
Cumberland County, Kentucky has seen varying trends in property crime over the last four years, potentially impacting decision-making for residents and investors alike. Burglary incidents spiked in 2020 with 9 cases, while other years saw significantly lower numbers. The county also experienced occasional spikes in other crimes, such as 4 cases of stolen property in 2019. Despite these fluctuations, overall property crime remains relatively low, which might be appealing for those prioritizing safety in their investment or relocation considerations.
Demographics
Cumberland County, Kentucky's adult population slightly leans female, with 2,389 females to 2,242 males. Educational attainment shows a significant portion of residents, 1,869 individuals, having a high school diploma or equivalent, while 549 have some high school education but no diploma. The age distribution suggests an aging population, with groups aged 55-64 and 65-74 collectively exceeding younger cohorts. Racial demographics indicate a predominantly White population at 5,562, with smaller... Read more
Race Distribution in Cumberland County, Kentucky (2022)
Educational Attainment in Cumberland County, Kentucky (2022)
Age Distribution in Cumberland County, Kentucky
Citizen Population in Cumberland County, Kentucky (2022)
Political Trends & Data
In Cumberland County, Kentucky, the 2020 U.S. Presidential Election results might reveal a strong inclination towards the Republican Party, receiving almost 84% of the votes. Conversely, the Democratic Party appears to have secured around 15%, suggesting a considerable disparity between the two primary parties. This significant gap could potentially impact local policies and community investments, with local real estate trends possibly influenced by political... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Cumberland County, Kentucky, the 2020 U.S. Presidential Election results could suggest a significant lean towards the Republican Party, with nearly 84% of the votes. The Democratic Party appears to have garnered approximately 15%, which might indicate a substantial gap between the two major parties in this region. Minor parties such as the Libertarians and others seem to have attracted minimal support, likely reflecting a strong two-party presence within the county.
83.68% of voters voted for the Republican party in the 2020 Presidential Election
15.35% of voters voted for the Democrat party in the 2020 Presidential Election
0.63% of voters voted for the Livertarian party in the 2020 Presidential Election
0.33% of voters voted for the Other party in the 2020 Presidential Election
School Data
In Cumberland County, Kentucky, the student-to-teacher ratio has hovered between 14 and 17 over the past ten years. The ratio peaked at 17 in 2018 before dropping to around 14 by 2022, aligning with the national average. This fluctuation might suggest shifts in population, resource distribution, or educational policies. A lower student-to-teacher ratio often signals more personalized attention and potentially better educational outcomes, factors that families find attractive when considering... Read more
Student-to-teacher ratio in Cumberland County, Kentucky over the last 10 years
Over the past decade, Cumberland County, Kentucky, has seen a relatively stable student-to-teacher ratio, fluctuating between 14 and 17 students per teacher. Notably, the ratio peaked at about 17 in 2018 and dipped close to 14 by 2022, nearing the current US national average of 14 students per teacher. This pattern could be indicative of shifting population trends, resource allocation, or changes in educational policy within the county. Lowering the student-to-teacher ratio often enhances individualized attention and could improve educational outcomes, making this a potentially appealing factor for families considering relocation and could influence property values. For real estate agents, appraisers, and builders, understanding these dynamics provides valuable context when advising clients or investing in the area.
