Elliott County Real Estate and Livability Trends
Elliott County, Kentucky, has seen median home values increase from $66,100 in 2015 to $90,400 in 2022, though they still trail state and national averages. Real estate taxes have risen steadily, with property taxes growing from $806.25 in 2012 to $2,050.00 in 2018, likely due to higher property demand. Despite a dip in the percentage of farm tax returns from 19.62% in 2012 to 13.17% in 2021, the... Read more
Elliott County Market Trends
Elliott County, Kentucky has seen median home values climb from $66,100 in 2015 to $90,400 in 2022, still falling short of the state and national averages. Residential energy tax credits have fluctuated, peaking at $450.00 per return in 2014 and averaging $366.67 in the latest count, suggesting ongoing interest in energy-efficient homes. Real estate taxes have shown a steady rise, with property... Read more
Median Value of Occupied Housing Units in Elliott County, Kentucky Over the Last 8 Years
Elliott County, Kentucky has seen a significant increase in median home values over the past eight years, reaching $90,400 in 2022 from $66,100 in 2015. Despite these gains, local home prices are still well below both the Kentucky state average of $177,000 and the national average of $179,400 for 2022, presenting potential opportunities for more affordable investment. This contrast highlights Elliott County as potentially attractive for those seeking lower-cost housing options within the state.
Residential Energy Tax Credit Per Tax Return in Elliott County, KY Over the Last 5 Years
Residential energy tax credits in Elliott County, Kentucky have shown notable fluctuations over the past five years, with amounts ranging from $200.00 to $450.00 per tax return. Interestingly, 2014 saw a significant spike to $450.00, which suggests a peak in energy-saving investments during that period. More recent data from 2021 indicates a steady average of $366.67, hinting at a continued interest in residential energy efficiency improvements. These trends might indicate emerging opportunities for real estate developers and investors focusing on energy-efficient homes.
Average Real Estate Taxes Per Tax Return in Elliott County, KY Over the Last 7 Years
Over the past seven years in Elliott County, Kentucky, average real estate taxes per tax return have shown a notable upward trend, rising from $806.25 in 2012 to $2,050.00 in 2018. This consistent increase, particularly the sharp jump in 2018, could suggest a growing demand for property and possibly rising property values, considerations investors, real estate agents, and appraisers might want to keep an eye on. For insurance agents and those looking to move or build, understanding these tax trends could be crucial for budgeting and financial planning.
Percentage of Farm Returns in Elliott County, KY Over the Last 10 Years
Over the last decade, Elliott County, Kentucky, has experienced a general decline in the percentage of farm tax returns, dipping from approximately 19.62% in 2012 to around 13.17% in 2021. Farm tax returns are filings by farmers to report income and expenses related to agricultural activities. This trend could indicate shifting economic dynamics, which might influence potential investors or residents considering agricultural opportunities or property development in the area.
Number of Mortgages by Occupancy Type in Elliott County, KY Over the Last 5 Years in Elliott County
In Elliott County, Kentucky, the majority of mortgages over the past five years have been for principal residences, with noticeable increases from 73 in 2018 to 173 in 2022. Investment property mortgages have remained relatively low and stable, while second residence mortgages have seen a minor uptick. Shifts in occupancy type could signal changing community dynamics, influencing local market conditions and real estate values. For investors, real estate agents, and those new to the area, these trends offer insights into housing demand and potential investment opportunities. Appraisers and insurance agents might also see variations in risk profiles and property valuations based on occupancy type shifts.
Economic Outlook
Elliott County, Kentucky has seen notable trends in average taxable income per tax return, peaking at $44,484.16 in 2021 after a dip to $36,928.29 in 2020, likely reflecting pandemic impacts. The substantial increase in state and local income taxes, from $4,015.79 in 2012 to $6,900.00 in 2019, highlights a rising tax burden that could influence disposable income and living costs. The steady rise in total tax liability, reaching $4,976.83 in 2021, suggests improving economic conditions,... Read more
Average Taxable Income per Tax Return in Elliott County, KY over the last 9 years
Elliott County, Kentucky has experienced some fluctuations in average taxable income per tax return over the past nine years. Starting at approximately $37,018.18 in 2013, there's been a general upward trend, peaking around $40,581.90 in 2019. However, a notable dip occurred in 2020, bringing figures back down to $36,928.29, likely reflecting broader economic impacts. Interestingly, 2021 saw a significant rebound, with the average taxable income per return surging to $44,484.16. These changes could be of interest to investors, real estate agents, and others evaluating the economic health and potential of Elliott County.
Average State and Local Income Taxes Per Tax Return in Elliott County, KY Over the Last 7 Years
Elliott County, Kentucky has seen a notable increase in state and local income taxes per tax return over the past seven years, with a significant jump from $4,015.79 in 2012 to $6,900.00 in 2019. This upward trend may impact decisions for potential investors and residents considering the area, as it reflects changes in the tax burden that could affect disposable income and overall cost of living.
Average Total Tax Liability Per Tax Return in Elliott County, KY Over the Last 10 Years
The average total tax liability per tax return in Elliott County, Kentucky has shown a gradual increase over the past decade, moving from $3,708.33 in 2012 to $4,976.83 in 2021. This upward trend may suggest improving economic conditions or rising incomes, making the county potentially attractive for investment or relocation. Notably, the significant jump in 2021 to nearly $5,000 indicates a marked shift that could influence property values and local market dynamics. For those looking to build or invest, this could hint at a growing and possibly more affluent community.
Cost of Living in Elliott County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $987 | $1,432 | $1,612 | $1,113 | $1,091 |
| 1 adult 4 children | $987 | $1,169 | $1,231 | $1,113 | $1,131 |
| 2 adults 3 children | $987 | $1,170 | $1,399 | $1,113 | $881 |
| 1 adult 3 children | $987 | $955 | $1,019 | $1,113 | $892 |
| 2 adults 2 children | $778 | $957 | $1,187 | $967 | $784 |
| 1 adult 2 children | $778 | $715 | $806 | $967 | $689 |
| 2 adults 1 child | $778 | $757 | $974 | $493 | $732 |
| 1 adult 1 child | $778 | $489 | $593 | $493 | $605 |
| 2 adults | $591 | $608 | $761 | $0 | $615 |
| 1 adult | $564 | $332 | $381 | $0 | $515 |
Demographics
Elliott County, Kentucky, shows a significantly higher male population compared to females and a substantial portion of its population holding only high school education or less. Age distribution reflects a balanced spread across various age groups, with notable numbers in the 25 to 54 age range, hinting at a steady working-age demographic. The racial makeup is predominantly White, with very minimal representation from other racial groups, suggesting limited... Read more
Race Distribution in Elliott County, Kentucky (2022)
Educational Attainment in Elliott County, Kentucky (2022)
Age Distribution in Elliott County, Kentucky
Citizen Population in Elliott County, Kentucky (2022)
Political Trends & Data
Elliott County, Kentucky, leans heavily Republican, with nearly 75% of votes in the 2020 presidential election going to the GOP, while Democrats captured around 24%. This strong conservative preference might shape local policies and political culture, potentially impacting real estate trends, property values, and community... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Elliott County, Kentucky, showcases a significant Republican tilt with nearly 75% of the vote in the 2020 presidential election. Democrats garnered approximately 24%, while Libertarians and other minor parties barely made a dent. This trend suggests a strong conservative preference that could influence local policies and political culture.
74.99% of voters voted for the Republican party in the 2020 Presidential Election
23.77% of voters voted for the Democrat party in the 2020 Presidential Election
0.60% of voters voted for the Livertarian party in the 2020 Presidential Election
0.63% of voters voted for the Other party in the 2020 Presidential Election
School Data
The student-to-teacher ratio in Elliott County, Kentucky, has seen notable fluctuations, peaking at 15 in 2015 and dropping to 12 in 2022, often dipping below the national average of 14. This trend could pique the interest of real estate investors and agents, as lower ratios often signal more personalized education, potentially attracting families. Such dynamics might influence demand and pricing in the housing market, offering valuable insights for appraisers and insurance agents in assessing... Read more
Student-to-teacher ratio in Elliott County, Kentucky over the last 10 years
Over the past decade, the student-to-teacher ratio in Elliott County, Kentucky has fluctuated, peaking at 15 in 2015 and dropping to a low of 12 in 2022. While it dipped below the national average of 14 students per teacher several times, it has hovered close to this benchmark in recent years. This variability might interest investors and real estate agents, as a lower ratio can indicate more personalized attention in schools, potentially attracting families. Such factors could impact the property market, influencing demand and pricing. For insurance agents and appraisers, understanding these trends can aid in accurately assessing the educational environment, which in turn may affect property values and neighborhood desirability.
