Graves County Real Estate and Livability Trends
Graves County, Kentucky real estate market trends reflect economic growth and appeal for potential investors with average taxable incomes rising from $43,509.65 in 2013 to $56,352.51 in 2021. However, escalating state and local income taxes, which jumped from $5,830.80 in 2012 to $12,286.67 in 2021, might impact financial planning. Median home values in the county also saw a notable increase,... Read more
Graves County Market Trends
Over the past 8 years, Graves County, Kentucky has witnessed a steady rise in median home values from $92,900 in 2015 to $134,900 in 2022, outpacing state and national growth. This trend potentially signals an emerging investment opportunity, blending affordability with appreciating property values. Residential energy tax credits in the area peaked notably in 2016 and 2021, suggesting an... Read more
Median Value of Occupied Housing Units in Graves County, Kentucky Over the Last 8 Years
Over the past 8 years, Graves County, Kentucky has seen a steady increase in median home values, from $92,900 in 2015 to $134,900 in 2022. While the county's values remain below state and national averages, the growth rate has accelerated notably in recent years, indicating a strengthening local market. Kentucky's median values for the same period rose from $123,200 to $177,000, and the U.S. average surged from $125,500 to $179,400. This trend could suggest Graves County might be an emerging opportunity for investment or relocation, offering affordability alongside a pattern of increasing appreciation.
Residential Energy Tax Credit Per Tax Return in Graves County, KY Over the Last 8 Years
Graves County, Kentucky has seen a varying but generally upward trend in residential energy tax credits per tax return over the past eight years. Peaks in values can be especially noted in 2016 at $591.18 and in 2021 at $590.91, indicating possible increases in energy-efficient home improvements or installations. For investors or homeowners considering energy upgrades, these figures suggest a growing incentive in the area, which could enhance property value and savings on energy costs.
Average Real Estate Taxes Per Tax Return in Graves County, KY Over the Last 10 Years
Graves County, Kentucky has experienced an upward trajectory in average real estate taxes over the past decade, culminating in a noticeable increase from approximately $1,123.39 in 2012 to around $2,117.50 in 2021. The most significant spikes occurred between 2017 and 2018 when taxes jumped to $1,975.00, potentially reflecting shifts in property valuations or policy changes. This trend could be crucial for prospective buyers, investors, and real estate agents to consider, as increasing taxes may impact property costs and long-term investments.
Percentage of Farm Returns in Graves County, KY Over the Last 10 Years
Over the past decade, Graves County, Kentucky has seen a gradual decline in the percentage of farm tax returns filed, from 7.53% in 2012 to about 5.99% in 2021. Farm tax returns reflect the number of individuals or entities reporting income from farming activities, making them a key economic indicator for agricultural investment. This trend may suggest a shift in the local economy or changes in the agricultural sector, potentially influencing property investment decisions and economic development strategies in the area.
Number of Mortgages by Occupancy Type in Graves County, KY Over the Last 5 Years in Graves County
Mortgages in Graves County, Kentucky over the past five years have shown a predominant focus on principal residences, with counts significantly higher than those for investment or second properties. For instance, principal residence mortgages spiked to over 1,300 in 2021, while investment properties fluctuated around the 30-40 mark and second residences rarely hit double digits. These occupancy type shifts are crucial for insurers and appraisers as they impact risk assessment and property valuation, and for real estate agents and investors seeking to understand market dynamics. High principal residence mortgages could suggest a stable or growing population, beneficial for service-oriented businesses and indicating strong community engagement.
Economic Outlook
In Graves County, Kentucky, the average taxable income per tax return has risen significantly from $43,509.65 in 2013 to $56,352.51 in 2021, potentially indicating economic development and increasing the area's attractiveness for real estate investments. However, the average state and local income taxes per tax return have also grown markedly, escalating from $5,830.80 in 2012 to $12,286.67 in 2021, possibly due to policy changes or other economic factors. This increase in tax burdens, combined... Read more
Average Taxable Income per Tax Return in Graves County, KY over the last 9 years
Graves County, Kentucky has experienced a steady rise in average taxable income per tax return over the past nine years, with an increase from approximately $43,509.65 in 2013 to around $56,352.51 in 2021. This growth could signal economic development and may attract investors and new residents. These figures suggest a potentially stronger local economy, making the area more appealing for real estate investment and development. Additionally, the consistent upward trend could be beneficial for appraisers and insurance agents assessing the financial health of the community.
Average State and Local Income Taxes Per Tax Return in Graves County, KY Over the Last 10 Years
Over the past decade, Graves County, Kentucky has seen a significant increase in average state and local income taxes per tax return, rising from $5,830.80 in 2012 to $12,286.67 in 2021. This trend suggests escalating tax burdens, which could impact decisions for potential investors, homeowners, and businesses considering the area. Notably, the sharpest rises occurred between 2017 and 2021, pointing to policy changes or economic factors driving higher tax collections.
Average Total Tax Liability Per Tax Return in Graves County, KY Over the Last 10 Years
Over the past decade in Graves County, Kentucky, the average total tax liability per tax return has shown a steady upward trend, starting at approximately $5,942.86 in 2012 and climbing to around $7,969.38 by 2021. These trends suggest potential rising incomes or changes in tax policy impacting local taxpayers. For investors and new residents, understanding these shifts can be crucial for financial planning and forecasting property values. While the upward movement may indicate a growing economy, it also means higher tax commitments for individuals and businesses looking to settle or expand in the area.
Cost of Living in Graves County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,043 | $1,214 | $1,746 | $1,019 | $1,047 |
| 1 adult 4 children | $1,043 | $992 | $1,335 | $1,019 | $1,121 |
| 2 adults 3 children | $1,043 | $992 | $1,515 | $1,019 | $878 |
| 1 adult 3 children | $1,043 | $810 | $1,104 | $1,019 | $871 |
| 2 adults 2 children | $742 | $812 | $1,284 | $897 | $745 |
| 1 adult 2 children | $742 | $607 | $873 | $897 | $652 |
| 2 adults 1 child | $742 | $642 | $1,053 | $500 | $724 |
| 1 adult 1 child | $742 | $415 | $642 | $500 | $609 |
| 2 adults | $564 | $516 | $822 | $0 | $616 |
| 1 adult | $538 | $281 | $411 | $0 | $529 |
Safety trends & Data
Graves County, Kentucky has seen notable fluctuations in property crime trends over the last five years. Larceny-theft, the most reported crime, peaked at 170 incidents in 2019 but dropped to 75 by 2022. Burglary cases decreased from 52 in 2018 to 36 in 2022, while vandalism incidents remained moderate, hitting a low of 15 in 2022. These changes could influence property investments, insurance considerations, and real estate decisions, offering insights into the area's evolving safety... Read more
Property Crime Trends in Graves County, KY Over the Last 5 Years
Graves County, Kentucky has seen fluctuating property crime trends over the last five years, with notable changes in specific crime categories. Larceny-theft consistently led as the most reported crime, peaking at 170 incidents in 2019 before dropping to 75 in 2022. Cases of burglary also showed a decrease from 52 in 2018 to 36 in 2022. Vandalism incidents demonstrated sporadic changes, maintaining a moderate level, reaching a low of 15 in 2022. These trends could be relevant for anyone investing in property, assessing insurance needs, or working in real estate within Graves County, providing insight into the evolving safety landscape.
Demographics
Graves County, Kentucky reflects interesting demographic trends. The population is evenly split between males and females, with a slight female majority. Educational attainment highlights a significant portion with only a high school diploma or some college but no degree, hinting at potential areas for educational enhancement. The age distribution shows a sizeable elderly population, suggesting healthcare and senior services demand. The racial composition is predominantly White, which might... Read more
Race Distribution in Graves County, Kentucky (2022)
Educational Attainment in Graves County, Kentucky (2022)
Age Distribution in Graves County, Kentucky
Citizen Population in Graves County, Kentucky (2022)
Political Trends & Data
Graves County, Kentucky leans heavily Republican based on the 2020 U.S. Presidential Election results, where about 78% of the vote seemed to favor the GOP. This strong conservative tilt might point to a stable, predominantly rural community, echoing broader voting trends across much of... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Graves County, Kentucky, the 2020 U.S. Presidential Election results hint at a strong Republican inclination, with roughly 78% of the vote likely going to the GOP. Democrats may have garnered about 21%, while Libertarians were potentially a minor factor with just over 1%. This political landscape could suggest a relatively stable conservative stronghold in a predominantly rural area, aligning with broader voting patterns seen in many parts of Kentucky.
77.60% of voters voted for the Republican party in the 2020 Presidential Election
20.91% of voters voted for the Democrat party in the 2020 Presidential Election
1.10% of voters voted for the Livertarian party in the 2020 Presidential Election
0.39% of voters voted for the Other party in the 2020 Presidential Election
School Data
Graves County, Kentucky has experienced variable student-to-teacher ratios over the last decade, fluctuating between 16 and 18. In 2015, it was notably low at 15.6, hinting at changing district funding, population shifts, or educational policy. While still close to the national average of 14, these trends can be pivotal for investors, real estate agents, and families. Lower ratios can lead to better educational outcomes, potentially raising property values and community desirability. Appraisers... Read more
Student-to-teacher ratio in Graves County, Kentucky over the last 10 years
Graves County, Kentucky has seen fluctuating student-to-teacher ratios over the last decade, peaking at 18 in 2018 and dipping to around 16 in more recent years, with a noticeable high of 15.6 in 2015. Although always close to the national average of 14 students per teacher, these variations suggest shifts in district funding, population changes, or educational policy adjustments. These trends might be crucial for investors, real estate agents, and families evaluating the area, as lower ratios often imply more personalized attention in schools, potentially boosting property values and overall community appeal. Appraisers and insurance agents could also find these figures relevant when assessing the viability and attractiveness of the location for potential developments.
