Knott County Real Estate and Livability Trends
Knott County, Kentucky's real estate market shows interesting dynamics with rising median home values reaching $66,600 in 2022, making it more affordable compared to state and national medians. The county's growing energy tax credits highlight a shift toward energy-efficient home improvements, attracting eco-conscious buyers. The erratic patterns in real estate taxes, peaking at $2,500.00 in... Read more
Knott County Market Trends
Knott County, Kentucky, has seen a notable increase in median home values, rising to $66,600 in 2022 from $57,900 in 2021. This makes homes in the area significantly more affordable compared to the state and national medians of $177,000 and $179,400, respectively, potentially opening doors for cost-effective housing investments. Energy tax credits in the county have shown a general upward trend,... Read more
Median Value of Occupied Housing Units in Knott County, Kentucky Over the Last 8 Years
The median home values in Knott County, Kentucky over the past eight years have shown a varied trend, with a notable recent increase to $66,600 in 2022 from $57,900 in 2021. This local growth, though significant, still places Knott County far below both the state's median of $177,000 and the national median of $179,400 for 2022. These differences might present potential opportunities for more affordable housing investments or developments in Knott County compared to other regions.
Residential Energy Tax Credit Per Tax Return in Knott County, KY Over the Last 6 Years
Over the last six years, Knott County, Kentucky has seen a notable fluctuation in average residential energy tax credits per tax return. Starting broadly consistent at around $271.43 in 2013 and 2014, the credit increased to $314.29 by 2015 and noticeably rose to $437.50 in 2016. After a slight drop to approximately $366.67 in 2020, it surged again to $500.00 in 2021. This trend suggests a varying but generally upward movement in energy tax credits, which could imply increasing investment in energy-efficient home improvements. This dynamic will likely interest potential investors, property developers, and real estate professionals monitoring energy efficiency trends.
Average Real Estate Taxes Per Tax Return in Knott County, KY Over the Last 10 Years
Over the last decade, Knott County, Kentucky, has seen fluctuating real estate taxes per tax return, starting at $1,129.41 in 2012 and peaking at $2,500.00 in 2019. Notably, there was a significant jump between 2017 and 2018, with values almost doubling from $1,450.00 to $2,460.00. This variability could suggest changing property valuations or shifts in taxation policies, making it essential for potential investors, developers, and real estate agents to stay informed on local tax trends.
Percentage of Farm Returns in Knott County, KY Over the Last 10 Years
The trend in Knott County, Kentucky shows a modest increase in farm tax returns over the last decade, with a slight fluctuation in more recent years. Starting from approximately 0.57% in 2012 and seeing a peak around 0.85% in 2018, the percentage of farm tax returns has shown potential growth but hasn't been consistent. This subtle rise could hint at growing agricultural activities, which might interest potential investors or residents considering rural property development. Farm tax returns reflect farm income and expenses reported for tax purposes, offering a snapshot of the agricultural sector's health. Such data can be a useful indicator for those looking to invest in local agribusiness or understanding economic shifts in the community.
Number of Mortgages by Occupancy Type in Knott County, KY Over the Last 5 Years in Knott County
Knott County, Kentucky has experienced a fairly consistent trend in mortgage distribution over the past five years, with principal residences making up the overwhelming majority of new mortgages, while investment properties and second residences saw minimal activity. For investors, this indicates a stable market primarily driven by local demand for primary homes, which could translate to lower volatility and a more predictable rental market. Real estate agents and appraisers might find the steady prevalence of principal residences useful for pricing strategies and property value assessments. For builders and insurance agents, understanding these occupancy patterns might be crucial for forecasting demand and tailoring services to meet the needs of potential homeowners rather than those looking to buy secondary properties or investment units.
Economic Outlook
Knott County, Kentucky's real estate market may be seen as appealing given the upward trend in average taxable income, escalating from approximately $39,296.84 in 2013 to about $53,030.54 in 2021. Meanwhile, state and local income taxes per tax return have fluctuated dramatically, notably spiking from $6,272.34 in 2017 to an astonishing $62,600.00 in 2021. This suggests significant economic changes or policy shifts that could affect future property values. Additionally, total tax liabilities... Read more
Average Taxable Income per Tax Return in Knott County, KY over the last 9 years
Over the past nine years in Knott County, Kentucky, the average taxable income per tax return has shown a general upward trend. Starting at approximately $39,296.84 in 2013, it climbed steadily with a notable peak of about $53,030.54 in 2021. Despite minor fluctuations, particularly around 2016 and 2020, the increase is significant, suggesting potential economic growth or changes in the taxable population. This trend could be insightful for investors, real estate agents, and others interested in the area's financial landscape.
Average State and Local Income Taxes Per Tax Return in Knott County, KY Over the Last 10 Years
Knott County, Kentucky has seen a dramatic fluctuation in average state and local income taxes per tax return over the past decade. Notably, there was a sharp increase from $6,272.34 in 2017 to $13,237.50 in 2018, and a more startling jump to $62,600.00 in 2021. This rapid escalation could signal significant changes in local economic conditions, tax policies, or income levels, making it a critical consideration for anyone thinking about investing, moving, or building property in the area.
Average Total Tax Liability Per Tax Return in Knott County, KY Over the Last 10 Years
In Knott County, Kentucky, the average total tax liability per tax return has shown notable fluctuation over the past decade. Starting at $5,340.61 in 2012, it saw a dip in 2013 and 2014 before peaking at $5,853.15 in 2015. A significant jump occurred in 2018 and 2019, reaching up to $6,917.70, followed by a dip in 2020 to $5,247.12, and then a dramatic rise to $8,302.59 in 2021. This variability may reflect changes in local economic conditions, property values, and employment rates, offering a nuanced perspective for investors and potential residents assessing financial landscapes and tax commitments in the area.
Cost of Living in Knott County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,017 | $1,371 | $1,722 | $1,113 | $1,116 |
| 1 adult 4 children | $1,017 | $1,120 | $1,317 | $1,113 | $1,157 |
| 2 adults 3 children | $1,017 | $1,120 | $1,495 | $1,113 | $901 |
| 1 adult 3 children | $1,017 | $915 | $1,089 | $1,113 | $917 |
| 2 adults 2 children | $742 | $917 | $1,267 | $967 | $780 |
| 1 adult 2 children | $742 | $685 | $861 | $967 | $682 |
| 2 adults 1 child | $742 | $725 | $1,039 | $493 | $728 |
| 1 adult 1 child | $742 | $468 | $633 | $493 | $600 |
| 2 adults | $657 | $582 | $811 | $0 | $646 |
| 1 adult | $643 | $318 | $406 | $0 | $549 |
Safety trends & Data
Knott County, Kentucky has experienced fluctuating property crime levels, with notable burglary peaks in 2019 and 2022 at 2.00 arrests each year. Vandalism and handling of stolen property occur sporadically, while 2020 saw 2.00 larceny-theft arrests. This data might help investors and homeowners gauge risks, guide appraisors and insurance agents in assessments, and inform real estate professionals advising on... Read more
Property Crime Trends in Knott County, KY Over the Last 5 Years
Knott County, Kentucky has seen fluctuations in property crime over the last five years, with notable incidences of burglary peaking in 2019 and 2022 at 2.00 arrests each year. Vandalism and the handling of stolen property also appear periodically, while larceny-theft was registered in 2020 with 2.00 arrests. These trends may resonate with investors and homeowners, providing insights for appraisors and insurance agents assessing risk, while real estate professionals might use this data to advise clients on property investments.
Demographics
Knott County, Kentucky's demographic portrait showcases a slightly higher female population compared to males. Educational attainment is tilted towards high school graduates and those with some college but no degree, with a relatively small fraction holding bachelor's or advanced degrees. The age distribution indicates a significant older adult population, specifically those aged 55 to 64. Racially, the county is predominantly White, with minimal representation from other racial groups. These... Read more
Race Distribution in Knott County, Kentucky (2022)
Educational Attainment in Knott County, Kentucky (2022)
Age Distribution in Knott County, Kentucky
Citizen Population in Knott County, Kentucky (2022)
Political Trends & Data
Knott County, Kentucky, displayed a pronounced Republican preference in the 2020 U.S. Presidential Election, with around 76 percent of votes favoring the GOP. Democrats managed to secure about 23 percent, and minor parties combined raked in under 1 percent. This solid conservative leaning might sway local and state political dynamics, potentially impacting policies and regulations that could affect the local real estate... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Knott County, Kentucky, leaned heavily Republican in the 2020 U.S. Presidential Election, with approximately 76 percent of the vote. Democrats captured around 23 percent, while minor parties like the Libertarians and others collectively garnered less than 1 percent. This suggests a strong conservative preference in this region, which could influence local and state political dynamics.
76.45% of voters voted for the Republican party in the 2020 Presidential Election
22.59% of voters voted for the Democrat party in the 2020 Presidential Election
0.45% of voters voted for the Livertarian party in the 2020 Presidential Election
0.51% of voters voted for the Other party in the 2020 Presidential Election
School Data
The student-to-teacher ratio in Knott County, Kentucky, peaked at nearly 19 in 2019 but has since dropped to around 12, now below the national average of 14. This trend may suggest an improved education system, possibly increasing the area's appeal for families. Investors, developers, real estate professionals, appraisers, and insurance agents could see this as an indicator of strengthening property market potential and... Read more
Student-to-teacher ratio in Knott County, Kentucky over the last 10 years
Over the last decade, Knott County, Kentucky has seen its student-to-teacher ratio fluctuate, peaking at nearly 19 in 2019 before dropping significantly to around 12 in recent years. This recent decline to below the national average of 14 students per teacher may indicate smaller class sizes, potentially offering a more personalized education experience. For potential investors, developers, and real estate professionals, this trend could signal a strengthening local education system, which might enhance the appeal of the area for families. Similarly, appraisers and insurance agents might find this data useful when assessing property values and calculating risk, as education quality often correlates with property market trends.
