Franklin County Real Estate and Livability Trends
Franklin County, Kentucky, has seen average taxable income per tax return grow from $49,089.98 in 2013 to $62,488.05 in 2021, with notable jumps between 2017 and 2018. Median home values have also risen significantly to $184,000, surpassing state and national medians. This, coupled with rising real estate taxes from $1,859.88 in 2012 to $3,527.08 in 2021, may point to increasing property values... Read more
Franklin County Market Trends
Median home values in Franklin County, Kentucky, have notably risen to $184,000, surpassing the state and national medians, possibly indicating increased demand or higher property valuations. The area has also experienced significant fluctuations in residential energy tax credits, with a dramatic spike to $3,133.33 in 2018 and a recent peak at $1,125.00 in 2021, which might suggest changing... Read more
Median Value of Occupied Housing Units in Franklin County, Kentucky Over the Last 8 Years
Median home values in Franklin County, Kentucky, have shown a consistent upward trend over the past eight years, reaching $184,000 in 2022, which is higher than the state median of $177,000 and the national median of $179,400 for the same year. This growth trajectory suggests Franklin County could be experiencing increased demand or higher property valuations compared to overall trends in Kentucky and the United States. For investors, this may imply potential for property value appreciation, while residents might see heightened property tax rates alongside potential equity gains.
Residential Energy Tax Credit Per Tax Return in Franklin County, KY Over the Last 9 Years
Franklin County, Kentucky has seen notable fluctuations in residential energy tax credits per tax return over the past nine years. After a steady rise from $443.10 in 2013 to $633.33 in 2016, there was a dramatic spike in 2018, reaching an unexpected $3,133.33. This anomaly was followed by a return to more typical levels, but recent years have shown a new upward trend, peaking at $1,125.00 in 2021. These variations suggest changing policies or increased investment in energy-efficient home improvements, making this area intriguing for property investors and developers interested in sustainable living incentives.
Average Real Estate Taxes Per Tax Return in Franklin County, KY Over the Last 10 Years
Over the last decade, Franklin County, Kentucky has seen a notable increase in average real estate taxes per tax return, starting from around $1,859.88 in 2012 and rising to approximately $3,527.08 by 2021. The most significant jumps occurred between 2017 and 2018, and again from 2019 to 2021. Such trends suggest a growing valuation in property or changes in local tax policies, likely impacting prospective real estate investors, current homeowners, and related professionals including appraisers and insurance agents.
Percentage of Farm Returns in Franklin County, KY Over the Last 10 Years
Over the last decade, Franklin County, Kentucky has seen fluctuations in the percentage of farm tax returns, indicating trends in the local agricultural economy. Starting at around 2.94% in 2012, it slightly decreased to 2.69% in 2013 and continued to show a downward pattern, hitting a low of approximately 1.97% in 2019. Farm tax returns generally reflect agricultural productivity and economic conditions, impacting decisions for those contemplating investments, property development, or moves to the area. Understanding these fluctuations can provide insights into agricultural viability and economic stability, key factors for anyone with an interest in Franklin County.
Number of Mortgages by Occupancy Type in Franklin County, KY Over the Last 5 Years in Franklin County
The data reveals a steady demand for principal residences with a noticeable uptick in recent years, particularly peaking in 2021 with 3,390 mortgages. Investment properties show a modest but consistent interest, peaking at 232 mortgages in 2021. Second residences remain a niche market with minimal activity, peaking at 34 mortgages in 2021. Changes in occupancy type can provide insights into shifting demographics and investment patterns, which are essential for real estate agents and investors looking to gauge market health. These trends can influence property valuations, insurance underwriting, and regional economic strategies. Understanding these shifts helps in predicting the potential for rental market growth and housing stability in Franklin County, Kentucky.
Economic Outlook
Franklin County, Kentucky, has experienced a steady increase in average taxable income per tax return, climbing from $49,089.98 in 2013 to $62,488.05 in 2021, with the most notable rise happening between 2017 and 2018. Meanwhile, state and local income taxes have shown significant fluctuations but generally increased, peaking at $10,475.27 in 2020. The total tax liability per tax return has also trended upward, reaching $8,528.50 in 2021. These financial dynamics may be valuable for investors,... Read more
Average Taxable Income per Tax Return in Franklin County, KY over the last 9 years
Over the past nine years, Franklin County, Kentucky has shown a steady increase in average taxable income per tax return, climbing from $49,089.98 in 2013 to $62,488.05 in 2021. The most notable jump occurred between 2017 and 2018, where average incomes rose by about $6,000. This upward trend suggests that economic conditions have generally been improving, which might appeal to investors and real estate agents looking for growth opportunities. Appraisers and insurance agents could also find this data useful for adjusting property values and policy rates accordingly.
Average State and Local Income Taxes Per Tax Return in Franklin County, KY Over the Last 10 Years
Franklin County, Kentucky has seen significant fluctuations in average state and local income taxes per tax return over the last decade. Starting at $5,551.32 in 2012, the figures steadily increased with notable jumps in recent years, peaking at $10,475.27 in 2020 before settling at $9,563.04 in 2021. Investors and residents should be aware of these increasing tax commitments when considering property and investment opportunities in this area.
Average Total Tax Liability Per Tax Return in Franklin County, KY Over the Last 10 Years
Average total tax liability per tax return in Franklin County, Kentucky has shown a general upward trend over the past decade. Notable increases occurred, such as a nearly $500 jump from 2015 to 2016 and a significant rise to $8,528.50 in 2021. These trends suggest increasing financial obligations for residents, which might affect those contemplating investment or relocation to the county. Understanding these dynamics could be crucial for financial planning and assessing the economic landscape.
Cost of Living in Franklin County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,209 | $1,347 | $1,752 | $1,362 | $1,261 |
| 1 adult 4 children | $1,209 | $1,100 | $1,339 | $1,362 | $1,350 |
| 2 adults 3 children | $1,209 | $1,101 | $1,520 | $1,362 | $1,045 |
| 1 adult 3 children | $1,209 | $898 | $1,108 | $1,362 | $1,118 |
| 2 adults 2 children | $909 | $901 | $1,288 | $1,204 | $903 |
| 1 adult 2 children | $909 | $673 | $876 | $1,204 | $844 |
| 2 adults 1 child | $909 | $712 | $1,057 | $692 | $843 |
| 1 adult 1 child | $909 | $460 | $644 | $692 | $701 |
| 2 adults | $732 | $572 | $825 | $0 | $665 |
| 1 adult | $638 | $312 | $412 | $0 | $542 |
Safety trends & Data
Property crime trends in Franklin County, Kentucky, have shown a general decline across several categories over the past five years. Larceny-theft dropped significantly from 252.00 cases in 2018 to 92.00 in 2022, while burglary incidents went from 50.00 cases in 2018 to just 20.00 in 2022. However, arson rates remained low but experienced occasional increases, adding an element of unpredictability. These shifting crime rates may influence property appraisals, insurance premiums, and investment... Read more
Property Crime Trends in Franklin County, KY Over the Last 5 Years
Property crime trends in Franklin County, Kentucky, show a notable fluctuation over the past five years, with a general decline in several categories. Larceny-Theft saw a significant drop from 252.00 cases in 2018 to 92.00 in 2022, making it a curious trend for local law enforcement and community safety. Burglary incidents also decreased, moving from 50.00 cases in 2018 to just 20.00 in 2022. However, there appears to be inconsistency in crimes like Arson, which remained low but with occasional increases. This variability could influence property appraisals, insurance premiums, and investment decisions, offering a mixed landscape for real estate agents and investors.
Demographics
Franklin County, Kentucky, shows a slightly higher number of women than men, with figures suggesting a roughly equal distribution. The educational attainment reveals a significant portion of residents holding high school diplomas or some college experience, and a notable percentage have achieved bachelor's degrees and higher. Age distribution signals a well-spread demographic, with the highest concentrations in the 25 to 34 age group, followed closely by those in the 55 to 64 bracket. The... Read more
Race Distribution in Franklin County, Kentucky (2022)
Educational Attainment in Franklin County, Kentucky (2022)
Age Distribution in Franklin County, Kentucky
Citizen Population in Franklin County, Kentucky (2022)
Political Trends & Data
Franklin County, Kentucky experienced a highly competitive race in the 2020 U.S. Presidential Election, with Republican and Democrat candidates receiving approximately 49.5% and 48.5% of the vote, respectively. This nearly even split points to shifting political dynamics and suggests the county could become a key battleground in future... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Franklin County, Kentucky saw a competitive race in the 2020 U.S. Presidential Election, with nearly equal support for Republican and Democrat candidates, sitting at approximately 49.5% and 48.5% respectively. Libertarian and other minor parties drew minimal support, reflecting broader national trends where third parties often have limited impact. The tight margin between the two leading parties could signal shifting political dynamics and suggest that this area may be a battleground in future elections.
49.50% of voters voted for the Republican party in the 2020 Presidential Election
48.54% of voters voted for the Democrat party in the 2020 Presidential Election
1.40% 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
The student-to-teacher ratio in Franklin County, Kentucky has generally decreased from about 17 students per teacher in 2014 to approximately 15 in 2023. This trend could appeal to families prioritizing education and real estate investors focusing on areas with better schools. It might also catch the interest of developers and insurance agents considering community risk factors. The potential for more personalized attention in schools could make the area particularly attractive for educators... Read more
Student-to-teacher ratio in Franklin County, Kentucky over the last 10 years
The student-to-teacher ratio in Franklin County, Kentucky has generally trended downward over the last decade, decreasing from about seventeen students per teacher in 2014 to approximately fifteen in 2023. This downward trend suggests a gradual improvement in educational conditions compared to the national average of fourteen students per teacher. Such a shift could be appealing to families prioritizing education, real estate investors focusing on areas with better schools, and appraisers considering property value influences. Insurance agents might also find this trend useful in assessing community risk factors, while developers could see potential in locations demonstrating investment in education. Additionally, lower ratios often lead to more personalized attention for students, potentially making the area attractive for educators and students alike.
