Henry County Real Estate and Livability Trends
Henry County, Kentucky has seen a steady rise in median home values from $121,300 in 2015 to $161,600 in 2022, reflecting regional affordability and potential growth prospects. The area has also observed an increase in residential energy tax credits and a doubling of real estate taxes per tax return, which could indicate rising property values and policy changes. There's a noticeable shift from... Read more
Henry County Market Trends
Henry County, Kentucky, has seen its median home values rise steadily from $121,300 in 2015 to $161,600 in 2022, reflecting regional affordability and potential development. The surge in residential energy tax credits, peaking at $1,012.50 in 2021, hints at growing incentives for energy-efficient homes. Additionally, real estate taxes per tax return have doubled over the past decade, which may... Read more
Median Value of Occupied Housing Units in Henry County, Kentucky Over the Last 8 Years
Median home values in Henry County, Kentucky have seen a steady upward trajectory over the last 8 years, jumping from $121,300 in 2015 to $161,600 in 2022. While it lags behind the national median value, which reached $179,400 in 2022, Henry County's growth trend mirrors that of the wider state of Kentucky, which saw its median value rise to $177,000 in 2022. This growth rate, particularly the 2021-2022 surge, may suggest an increasing interest in the area, potentially driven by affordability and regional development factors.
Residential Energy Tax Credit Per Tax Return in Henry County, KY Over the Last 8 Years
Over the last eight years in Henry County, Kentucky, the average residential energy tax credit per tax return has shown variability, peaking significantly in 2021 at $1,012.50. Earlier years saw notable fluctuations, such as a high of $521.43 in 2014 and a low of $250.00 in 2017. The trend indicates a growing interest or increased incentives that could appeal to those investing in energy-efficient homes or considering green renovations. This data is potentially valuable for investors, builders, and real estate agents interested in the financial benefits tied to energy-efficient residential projects in the area.
Average Real Estate Taxes Per Tax Return in Henry County, KY Over the Last 10 Years
Over the past decade, Henry County, Kentucky has seen a notable increase in average real estate taxes per tax return, jumping from approximately $1,720 in 2012 to around $3,308 by 2021. This trend may suggest rising property values or changes in tax policy, which could be relevant for potential investors and those looking to move to the area. Real estate agents and appraisers might see this as an indication of market growth, while insurance agents may want to account for these rising costs in their assessments. Builders and property developers could also view this as a sign of a maturing market, meriting closer attention to how these changes might impact future developments.
Percentage of Farm Returns in Henry County, KY Over the Last 10 Years
Henry County, Kentucky has seen a modest yet noticeable decline in the percentage of farm tax returns over the past decade. Farm returns, reflecting the share of agricultural income reported, started at about 10.01% in 2012 and decreased to roughly 7.64% by 2021. This trend may suggest a gradual shift away from farming as a primary source of income. For those considering investing in property, moving to, or building in Henry County, understanding this trend is crucial as it could signify changes in land use and economic focus, potentially affecting property values and local business opportunities.
Number of Mortgages by Occupancy Type in Henry County, KY Over the Last 5 Years in Henry County
In Henry County, Kentucky, the trend over the past five years highlights a significant increase in the number of principal residence mortgages, peaking at 1,050 in 2021, suggesting a growing focus on homeownership. Investment property mortgages have remained relatively stable, though modest in comparison, possibly due to market conditions influencing the return on investment. Second residence mortgages are minimal but reveal a slight uptick, hinting at potential interest in vacation or secondary homes. These shifts can matter for investors, builders, and real estate professionals as they might indicate changing demands and market opportunities, while appraisers and insurance agents can adjust their evaluations and policies to reflect these evolving occupancy types. Understanding these trends offers valuable insights for anyone planning to engage with the real estate market in Henry County, whether they are looking to move, invest, or offer related services.
Economic Outlook
Henry County, Kentucky has witnessed a notable rise in the average taxable income per tax return over nearly a decade, jumping from $44,123.25 in 2013 to $58,380.99 in 2021, hinting at a steadily improving local economy. This makes the county potentially attractive for real estate investors, business ventures, and new residents seeking growth. Moreover, the area has seen increased state and local income taxes per return, peaking at $9,137.50 in 2021, which might suggest enhanced government... Read more
Average Taxable Income per Tax Return in Henry County, KY over the last 9 years
Henry County, Kentucky has exhibited a steady increase in the average taxable income per tax return over the past nine years, climbing from approximately $44,123.25 in 2013 to around $58,380.99 in 2021. This trend could suggest a gradually improving local economy, making the area potentially attractive for real estate investment, business opportunities, and new residents seeking growth. For appraisers, insurers, and property developers, this upward trajectory may indicate a healthy and sustainable market.
Average State and Local Income Taxes Per Tax Return in Henry County, KY Over the Last 10 Years
Over the last decade, Henry County, Kentucky has seen a steady climb in average state and local income taxes per tax return, peaking at $9,137.50 in 2021. This upward trend, from $4,943.71 in 2012, reflects broader economic and demographic shifts. Higher taxes indicate increased government services or infrastructure, which could attract more residents and investors looking for well-supported communities. While the rise can be a burden for some, it also signals a bolstering local economy that can sustain such development, potentially making the area more appealing for real estate opportunities.
Average Total Tax Liability Per Tax Return in Henry County, KY Over the Last 10 Years
The last decade in Henry County, Kentucky, shows an upward trend in average total tax liability per tax return, with a notable increase from around $5,300.78 in 2012 to approximately $7,458.56 in 2021. This could indicate a rise in incomes or changes in tax policy. For investors or those considering relocation, these tax trends may impact the overall cost of living and potential return on investment. Prospective property builders might also find this data useful for financial planning, as the growing tax liabilities may signify enhanced public services or infrastructure development in the area.
Cost of Living in Henry County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,202 | $1,432 | $1,751 | $1,218 | $1,355 |
| 1 adult 4 children | $1,202 | $1,169 | $1,338 | $1,218 | $1,424 |
| 2 adults 3 children | $1,202 | $1,170 | $1,520 | $1,218 | $1,100 |
| 1 adult 3 children | $1,202 | $955 | $1,107 | $1,218 | $1,179 |
| 2 adults 2 children | $907 | $957 | $1,289 | $1,072 | $943 |
| 1 adult 2 children | $907 | $715 | $876 | $1,072 | $892 |
| 2 adults 1 child | $907 | $757 | $1,058 | $598 | $885 |
| 1 adult 1 child | $907 | $489 | $645 | $598 | $749 |
| 2 adults | $755 | $608 | $827 | $0 | $743 |
| 1 adult | $669 | $332 | $414 | $0 | $590 |
Safety trends & Data
Henry County, Kentucky has seen diverse property crime trends over the past five years, with burglary cases peaking at 27 in 2018 but dropping to 15 by 2021, then rising to 22 in 2022. Larceny-Theft, while historically the most common crime, significantly fell from 43 incidents in 2018 to 16 in 2022. Motor Vehicle Theft showed minor fluctuations, with yearly incidents ranging between 4 and 13. Vandalism spiked to 23 cases in 2021 but fell to 10 the following year. Notably, 2020 saw a surge in... Read more
Property Crime Trends in Henry County, KY Over the Last 5 Years
Henry County, Kentucky has seen varied property crime trends over the past five years. Burglary cases peaked at 27 in 2018 but dropped as low as 15 by 2021, only to rise again to 22 in 2022. Larceny-Theft, historically the most common property crime, showed a significant decline from 43 incidents in 2018 to just 16 in 2022. Motor Vehicle Theft saw minor fluctuations, with yearly incidents ranging between 4 and 13. Vandalism spiked to 23 cases in 2021 but fell to 10 the following year. Noteworthy is the 2020 surge in "Stolen Property: Buying, Receiving, Possessing" arrests, reaching 24 incidents. These patterns offer essential insights for potential investors, real estate agents, and locals, as understanding shifts in crime rates can influence property values and perceived community safety.
Demographics
Henry County, Kentucky shows a fairly balanced gender ratio with a slight female majority. The educational attainment reveals a predominant number of high school graduates, yet a significant portion of adults has not completed high school. There’s also a notable number of residents with some college education but no degree, highlighting a potential area for educational development. Age distribution indicates a concentrated middle-aged population while the county maintains a small yet present... Read more
Race Distribution in Henry County, Kentucky (2022)
Educational Attainment in Henry County, Kentucky (2022)
Age Distribution in Henry County, Kentucky
Citizen Population in Henry County, Kentucky (2022)
Political Trends & Data
Henry County, Kentucky, shows a steady leaning towards Republican preferences, with about 72% of recent votes favoring the GOP, compared to roughly 26% for Democrats. Libertarians and other minor parties make minimal impact, securing just over 1%. This could suggest a predominantly conservative demographic that could influence local policies and... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Election trends in Henry County, Kentucky, suggest a strong inclination towards the Republican Party, capturing around 72% of the vote. The Democratic Party received approximately 26%, indicating some level of support but clearly outdistanced by their Republican counterparts. Minor parties such as the Libertarian Party secured just over 1%, and other affiliations had minimal impact. This distribution could hint at a predominantly conservative voter base in this region.
72.07% of voters voted for the Republican party in the 2020 Presidential Election
26.42% of voters voted for the Democrat party in the 2020 Presidential Election
1.06% of voters voted for the Livertarian party in the 2020 Presidential Election
0.44% of voters voted for the Other party in the 2020 Presidential Election
School Data
Henry County, Kentucky's student-to-teacher ratio has reached as high as 17 students per teacher in recent years, often surpassing the national average of 14. This trend could suggest larger class sizes or a possible teacher shortage, impacting the perceived quality of local education. Such educational metrics are significant for investors, families, appraisers, insurance agents, and real estate professionals, potentially affecting property values and the overall desirability of the area. These... Read more
Student-to-teacher ratio in Henry County, Kentucky over the last 10 years
Henry County, Kentucky's student-to-teacher ratio has fluctuated over the last decade, peaking at around 17 students per teacher in 2016 and 2017. Compared to the U.S. national average of 14 students per teacher, Henry County often exceeds this benchmark, which could signal larger class sizes or a teacher shortage. This data is crucial for potential investors, families considering relocation, appraisers, insurance agents, and real estate professionals as it reflects on the quality of education and resources allocated in local schools. These ratios might impact property values and the desirability of the area, influencing decisions in both residential and commercial real estate markets.
