Hancock County Real Estate and Livability Trends
Hancock County, Kentucky has seen a steady rise in average taxable income, from $48,257.14 in 2013 to $57,462.86 in 2021, reflecting potential economic growth. Median home values have also increased, showing more stability compared to state and national trends, which could appeal to buyers seeking affordability and less risk. The drop in student-to-teacher ratios from 17 to just above 12 may... Read more
Hancock County Market Trends
Median home values in Hancock County, Kentucky have increased from $104,200 in 2015 to $116,800 in 2022, showing more stability compared to state ($123,200 to $177,000) and national trends ($125,500 to $179,400). This steadiness could appeal to buyers seeking affordability and less risk. Hancock County's residential energy tax credits per return have fluctuated, growing significantly from $214.29... Read more
Median Value of Occupied Housing Units in Hancock County, Kentucky Over the Last 8 Years
Median home values in Hancock County, Kentucky have seen a steady increase from $104,200 in 2015 to $116,800 in 2022, though the growth appears more moderate compared to both state and national levels. Kentucky's median home values rose from $123,200 to $177,000 in the same period, while the national figures surged from $125,500 to $179,400. This modest climb in Hancock County could indicate a more stable, less volatile market, which might appeal to investors and homebuyers seeking affordability and potentially less risky environments.
Residential Energy Tax Credit Per Tax Return in Hancock County, KY Over the Last 8 Years
The average residential energy tax credit per tax return in Hancock County, Kentucky has seen considerable fluctuations over the last eight years. Notably, there was a significant increase from $214.29 in 2013 to $600.00 in 2015. Although it dipped to $483.33 in 2016, it rebounded to a remarkable $775.00 by 2021. These fluctuations could signal varying levels of investment and regulatory incentives in energy-efficient home improvements. This variability in tax credits is crucial for potential investors, builders, and real estate agents, as it reflects the county's evolving commitment to energy efficiency and its potential impact on property value and cost management.
Average Real Estate Taxes Per Tax Return in Hancock County, KY Over the Last 10 Years
Over the last decade, Hancock County, Kentucky has experienced a steady increase in average real estate taxes per tax return, starting at $1,151.90 in 2012 and rising to $1,800.00 by 2021. Notably, there was a substantial jump between 2015 and 2018, from $1,214.71 to $1,655.56, suggesting potential shifts in property valuations or tax policies. This upward trend can be a crucial consideration for potential investors, homebuyers, and real estate professionals assessing the long-term costs of property ownership in the area.
Percentage of Farm Returns in Hancock County, KY Over the Last 10 Years
The percentage of farm tax returns in Hancock County, Kentucky appears to have fluctuated over the last decade, peaking at around 9.09% in 2012 and dropping to approximately 7.03% in 2021. This trend suggests a slow decline in farm tax submissions overall. Farm tax returns highlight the number of individuals or entities engaged in agricultural activities significant enough to require tax documentation. For those considering investment, relocation, or property development in Hancock County, the decreasing farm tax returns might indicate shifting economic dynamics, potentially affecting the agricultural viability or signaling broader economic changes in the region.
Number of Mortgages by Occupancy Type in Hancock County, KY Over the Last 5 Years in Hancock County
Hancock County, Kentucky has seen a noticeable fluctuation in mortgage types over the past five years, with principal residence mortgages consistently accounting for the majority but showing variability. Investment property mortgages have remained relatively stable, while second residence mortgages have been minimal but present. These trends could signal shifting priorities in property acquisition, impacting investment strategies, appraisal values, and insurance considerations. Real estate agents might find the stable investment interest useful, despite the slight decline in principal residences. Understanding these patterns helps gauge market dynamics, making informed decisions for building projects, relocations, and investments in Hancock County.
Economic Outlook
Hancock County, Kentucky has experienced a steady rise in average taxable income per tax return from $48,257.14 in 2013 to $57,462.86 by 2021, indicating potential economic strengthening. The average state and local income taxes have fluctuated, notably peaking at $9,425.00 in 2020, suggesting a dynamic economic environment. Average total tax liability also increased, hitting $7,180.13 in 2021 after a dip in 2018-2019. These trends could be key for investors and residents, revealing economic... Read more
Average Taxable Income per Tax Return in Hancock County, KY over the last 9 years
Hancock County, Kentucky has seen a gradual increase in average taxable income per tax return over the last nine years. Beginning at $48,257.14 in 2013, the average income has steadily climbed to $57,462.86 by 2021. This rising trend could suggest a strengthening local economy and may make the area more appealing for potential investors, real estate agents, and new residents looking for economic stability. Such financial growth can also be a key indicator for appraisers and insurance agents when evaluating property values and market conditions.
Average State and Local Income Taxes Per Tax Return in Hancock County, KY Over the Last 10 Years
Hancock County, Kentucky has seen notable fluctuations in average state and local income taxes per tax return over the past decade, with a significant peak in 2020 hitting $9,425.00. This jump from $5,571.79 in 2012 suggests a dynamic economic environment, potentially driven by changing local policies or economic factors. Such volatility highlights the importance for potential investors, new residents, and property developers to closely monitor fiscal trends to better understand the economic climate of the area.
Average Total Tax Liability Per Tax Return in Hancock County, KY Over the Last 10 Years
Hancock County, Kentucky has seen a general upward trend in average total tax liability per tax return over the last decade, with a notable peak in 2021 at $7,180.13. After a slight decline around 2018 and 2019, the values rebounded, suggesting a potential increase in income or changes in tax policy. These fluctuations could be significant for investors and potential residents, hinting at economic growth or fiscal adjustments in the area.
Cost of Living in Hancock County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,053 | $1,343 | $1,758 | $1,179 | $1,198 |
| 1 adult 4 children | $1,053 | $1,097 | $1,343 | $1,179 | $1,282 |
| 2 adults 3 children | $1,053 | $1,097 | $1,526 | $1,179 | $985 |
| 1 adult 3 children | $1,053 | $896 | $1,111 | $1,179 | $1,047 |
| 2 adults 2 children | $798 | $898 | $1,294 | $1,025 | $870 |
| 1 adult 2 children | $798 | $671 | $879 | $1,025 | $800 |
| 2 adults 1 child | $798 | $710 | $1,062 | $525 | $810 |
| 1 adult 1 child | $798 | $459 | $647 | $525 | $665 |
| 2 adults | $605 | $570 | $830 | $0 | $663 |
| 1 adult | $602 | $311 | $415 | $0 | $565 |
Safety trends & Data
Over the past five years, Hancock County, Kentucky, has experienced varied property crime trends. Burglary incidents peaked in 2018 with 6 reported cases but stabilized around 3 cases by 2021 and 2022. Meanwhile, crimes like embezzlement and fraud have shown up sporadically, with a noticeable rise in fraud by 2021. This diversification in property types, including motor vehicle theft, could be pivotal for policymakers and community planners. Potential investors and new residents might view... Read more
Property Crime Trends in Hancock County, KY Over the Last 5 Years
Over the past five years, property crime in Hancock County, Kentucky, has shown some fluctuations. Burglary incidents peaked in 2018 with 6 occurrences, while other types of property crimes like embezzlement and fraud each had a single occurrence. By 2021, there was a noticeable diversification in crimes, including motor vehicle theft and a rise in fraud cases. The year 2021 saw a varied mix of crimes, suggesting a shift in criminal activities, which might interest policymakers and community planners. Additionally, the recent stabilization of burglary cases around 3 in both 2021 and 2022 could be seen as a potential area of focus for local law enforcement. Investors and prospective residents might find the evolving crime dynamics worth considering when evaluating the area's livability and security.
Demographics
Hancock County, Kentucky's population dynamics reveal a balanced gender distribution and a predominantly White demographic, with over 8,600 residents identifying as such. Educational levels show a significant portion of adults having achieved at least a high school diploma, though a noticeable number hold bachelor's or higher degrees. Age demographics illustrate a relatively even distribution across different age groups but highlight a slight skew towards older adults, suggesting potential... Read more
Race Distribution in Hancock County, Kentucky (2022)
Educational Attainment in Hancock County, Kentucky (2022)
Age Distribution in Hancock County, Kentucky
Citizen Population in Hancock County, Kentucky (2022)
Political Trends & Data
Hancock County in Kentucky displayed a strong Republican preference in the 2020 U.S. Presidential Election, with about 69% of the vote going to the Republican candidate. Democrats secured roughly 29% of the vote, while Libertarians and other parties garnered a minor share, with Libertarians capturing about 1.5%. This political leaning could potentially influence local policies and development projects, possibly impacting the real estate market sentiment and investment viability in the... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Hancock County in Kentucky largely leaned Republican in the 2020 U.S. Presidential Election, with approximately 69% of the vote going to the Republican candidate. Democrats garnered around 29%, while other parties like the Libertarians and Greens had a much smaller share, with Libertarians receiving about 1.5%. This suggests a strong Republican preference among voters in this county during that election cycle.
68.56% of voters voted for the Republican party in the 2020 Presidential Election
29.45% of voters voted for the Democrat party in the 2020 Presidential Election
1.46% of voters voted for the Livertarian party in the 2020 Presidential Election
0.52% of voters voted for the Other party in the 2020 Presidential Election
School Data
Hancock County, Kentucky has seen a significant drop in its student-to-teacher ratio, from 17 in 2016 to just above 12 in 2023. With the national average at 14, this could make Hancock County more appealing for families prioritizing education, possibly driving up property demand and values. Smaller class sizes are often associated with improved student outcomes, further enhancing the area's attractiveness for real estate investors and educators seeking job opportunities. Insurance agents might... Read more
Student-to-teacher ratio in Hancock County, Kentucky over the last 10 years
Hancock County, Kentucky has seen its student-to-teacher ratio decrease significantly over the last decade, dropping from 17 in 2016 to just above 12 in 2023. This decline suggests a move towards smaller class sizes, which can have profound implications for educational quality and one-on-one instruction. With the national average at 14 students per teacher, Hancock County's current ratio could make it an attractive location for families prioritizing education, real estate investors, and educators looking for job opportunities. Smaller ratios often lead to better student outcomes, potentially increasing property values and demand for homes in the area. Additionally, insurance agents might consider the educational settings as factors in their assessments.
