Garrard County Real Estate and Livability Trends
In Garrard County, Kentucky, the average taxable income per tax return has increased from roughly $43,921.11 in 2013 to about $59,996.22 in 2021, concurrent with a rise in state and local income taxes. This economic growth and increased income could attract real estate investors, especially given the corresponding climb in median home values to $170,800 by 2022. Meanwhile, the educational... Read more
Garrard County Market Trends
Garrard County, Kentucky, has experienced a consistent rise in median home values, hitting $170,800 in 2022, outpacing both state and national averages. The notable growth could attract real estate investors and homebuyers looking for appreciating markets. The average residential energy tax credit surged to $1,975.00 in 2021, reflecting increased investments in energy efficiency, which might... Read more
Median Value of Occupied Housing Units in Garrard County, Kentucky Over the Last 8 Years
The median home values in Garrard County, Kentucky, have seen a steady increase over the past eight years, reaching $170,800 in 2022. This upward trajectory outpaced both state and national averages, with Kentucky's median value at $177,000 and the national at $179,400 in the same year. The relatively higher growth rate in Garrard County suggests potential opportunities for real estate investors and homebuyers looking for promising areas that may continue to appreciate in value. Analyzing these trends could be particularly insightful for those looking to invest, move to, or build property in this part of Kentucky.
Residential Energy Tax Credit Per Tax Return in Garrard County, KY Over the Last 8 Years
Over the past eight years, Garrard County, Kentucky has seen a notable increase in the average residential energy tax credit per tax return, peaking at $1,975.00 in 2021. Trends indicate fluctuations with a significant upswing starting in 2019 and continuing through 2021, suggesting increased incentives or a growing investment in energy-efficient improvements. This pattern could be crucial for potential investors and real estate agents, highlighting the county's evolving focus on energy efficiency which may appeal to new homeowners and appraisers. For local residents and insurance agents, these shifts hint at technological advancements in home energy systems and possibly enhanced property values.
Average Real Estate Taxes Per Tax Return in Garrard County, KY Over the Last 10 Years
The last decade has seen a gradual increase in real estate taxes per tax return in Garrard County, Kentucky, with figures climbing from approximately $1,543.45 in 2012 to around $2,708.70 by 2021. Noteworthy jumps occurred between 2017 and 2019, with taxes rising from roughly $1,840.76 to $2,547.83. This upward trend might suggest an improving local economy or increasing property values, making it both a potential challenge and opportunity for those involved in real estate transactions, assessments, and investments in the area.
Percentage of Farm Returns in Garrard County, KY Over the Last 10 Years
Farm tax returns in Garrard County, Kentucky, have shown a somewhat fluctuating trend over the last decade, peaking around 11.64% in 2013 and dipping to a low of approximately 9.15% in 2020. These figures suggest a slight but noticeable downward trend overall. This is particularly valuable for prospective investors or those considering agricultural endeavors in the region, as a decrease in farm tax returns could hint at challenges or changes within the local agricultural sector. Understanding these trends can inform better decision-making regarding investments, land purchases, or even relocations, by revealing potential economic shifts in the farming community's viability.
Number of Mortgages by Occupancy Type in Garrard County, KY Over the Last 5 Years in Garrard County
Garrard County, Kentucky, has seen the highest number of mortgages for principal residences, which spiked notably in 2021 with 1,127 mortgages, compared to 679 in 2018. Investment properties and second residences have remained relatively stable but far lower in volume, peaking at only 39 and 40 mortgages respectively in 2020. This trend suggests a robust demand for primary homes, possibly driven by population growth or shifts in work-from-home policies. For investors and real estate agents, the strong market for principal residences might indicate higher potential returns on residential projects. Conversely, appraisers and insurance agents should prioritize principal residences due to their dominance in the local market. Builders and developers might focus on creating more primary housing options to meet this demand.
Economic Outlook
In Garrard County, Kentucky, average taxable income per tax return has notably risen from around $43,921.11 in 2013 to approximately $59,996.22 in 2021. Concurrently, state and local income taxes have surged from $5,149.07 in 2012 to $12,317.39 in 2021. The average total tax liability per tax return has also climbed from $5,091.60 in 2012 to $8,372.93 in 2021, suggesting an evolving economic climate. This steady increase in income and tax liabilities might signal a healthier job market and... Read more
Average Taxable Income per Tax Return in Garrard County, KY over the last 9 years
Over the past nine years, Garrard County, Kentucky has seen a notable and mostly steady increase in the average taxable income per tax return, climbing from approximately $43,921.11 in 2013 to about $59,996.22 in 2021. This upward trend, with some minor fluctuations, highlights a growing economic base that could imply a healthier job market and potentially rising property values. For investors, real estate agents, and builders, these trends might suggest a promising market. Appraisers and insurance agents might also consider the increasing income levels when assessing property values and risk, respectively.
Average State and Local Income Taxes Per Tax Return in Garrard County, KY Over the Last 10 Years
Garrard County, Kentucky has seen a significant increase in average state and local income taxes per tax return over the last decade. Starting at $5,149.07 in 2012, the taxes have more than doubled, reaching $12,317.39 in 2021. This upward trend, especially the sharp rises in recent years, could impact financial planning for potential residents and investors evaluating the region's economic climate.
Average Total Tax Liability Per Tax Return in Garrard County, KY Over the Last 10 Years
Garrard County, Kentucky has seen a general upward trend in the average total tax liability per tax return over the past decade. Despite some fluctuations, there was a notable increase from $5,091.60 in 2012 to $8,372.93 in 2021. This may hint at various factors like rising incomes or changes in tax policies impacting residents. For those considering investment or relocation, these patterns suggest shifts in the local economic landscape and potential changes in the cost of living.
Cost of Living in Garrard County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $979 | $1,339 | $1,752 | $1,056 | $1,112 |
| 1 adult 4 children | $979 | $1,094 | $1,339 | $1,056 | $1,183 |
| 2 adults 3 children | $979 | $1,094 | $1,520 | $1,056 | $920 |
| 1 adult 3 children | $979 | $893 | $1,108 | $1,056 | $946 |
| 2 adults 2 children | $786 | $896 | $1,288 | $916 | $831 |
| 1 adult 2 children | $786 | $669 | $876 | $916 | $725 |
| 2 adults 1 child | $786 | $708 | $1,057 | $461 | $766 |
| 1 adult 1 child | $786 | $457 | $644 | $461 | $640 |
| 2 adults | $684 | $569 | $825 | $0 | $685 |
| 1 adult | $570 | $310 | $412 | $0 | $553 |
Safety trends & Data
In Garrard County, Kentucky, property crime trends over the past five years reveal noticeable fluctuations. Burglary incidents spiked significantly in 2022 with 19 reported cases, a sharp increase from just 3 in 2018. Larceny-theft also varied, peaking at 18 cases in 2020. Motor vehicle theft remained relatively stable, averaging between 1-4 cases annually. These shifting safety dynamics could be crucial for real estate investors and insurance agents, potentially influencing property values and... Read more
Property Crime Trends in Garrard County, KY Over the Last 5 Years
Over the last five years in Garrard County, Kentucky, there has been a fluctuating but noticeable increase in certain property crimes. Burglary incidents peaked significantly in 2022 with 19 reported cases, a dramatic rise from 3 in 2018. Larceny-Theft also saw ups and downs, hitting its highest in 2020 with 18 cases. Motor vehicle theft has seen less volatility, hovering around 1-4 cases annually. Real estate investors and insurance agents may find this information crucial as it highlights the shifting safety dynamics in the area, potentially impacting property values and insurance premiums.
Demographics
Garrard County, Kentucky, shows a relatively balanced gender distribution with a slight female majority. Educational attainment data indicates a significant portion of the population holding at least a high school diploma, though there's a noticeable drop-off at the bachelor’s and graduate degree levels. The age distribution leans towards a middle-aged demographic, with the largest groups clustered between 35 and 64 years. The racial composition is predominantly White, with other races making... Read more
Race Distribution in Garrard County, Kentucky (2022)
Educational Attainment in Garrard County, Kentucky (2022)
Age Distribution in Garrard County, Kentucky
Citizen Population in Garrard County, Kentucky (2022)
Political Trends & Data
Garrard County in Kentucky displayed strong Republican support in the 2020 U.S. Presidential Election, with Republican votes possibly nearing 78%. The Democratic Party likely garnered around 21% of the votes, and third-party candidates seemed to have minimal impact, each probably receiving less than 1%. This voting pattern may suggest a predominantly conservative voter base in Garrard... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Garrard County in Kentucky exhibited strong support for the Republican Party during the 2020 U.S. Presidential Election, with Republican votes possibly approaching 78%. The Democratic Party followed but trailed significantly with an estimated 21% of the votes. Libertarian and other third-party candidates received minimal support, likely reflecting less than 1% each. This distribution may indicate a predominantly conservative voter base in this county.
77.61% of voters voted for the Republican party in the 2020 Presidential Election
21.03% of voters voted for the Democrat party in the 2020 Presidential Election
0.99% of voters voted for the Livertarian party in the 2020 Presidential Election
0.38% of voters voted for the Other party in the 2020 Presidential Election
School Data
Garrard County, Kentucky has seen a notable decrease in the student-to-teacher ratio from a peak of around 16 students per teacher in 2017 to just under 14 in 2023, bringing it closer to the national average. This trend might imply improving educational conditions, which can be a selling point for properties in the area. Lower ratios often suggest more personalized attention for students, potentially leading to better educational outcomes and, in the long run, possibly higher property values.... Read more
Student-to-teacher ratio in Garrard County, Kentucky over the last 10 years
Garrard County, Kentucky has seen a notable decrease in the student-to-teacher ratio over the last decade, moving from a peak of approximately 16 students per teacher in 2017 to just below 14 students per teacher in 2023. This shift brings the ratio closer to the current national average of 14 students per teacher. For potential investors, real estate agents, and those looking to move, this trend might imply improving educational conditions, which can be a selling point for properties in the area. Lower ratios often suggest more personalized attention for students, which could translate into better educational outcomes and, in the long run, potentially higher property values. For insurance agents and appraisers, understanding such shifts may aid in assessing community growth and risk factors tied to population density and local education infrastructure.
