Knox County Real Estate and Livability Trends
Knox County, Kentucky is experiencing a notable rise in average taxable income, growing from $34,537.32 in 2013 to $44,258.53 in 2021, hinting at increased economic stability and making it attractive for investors and homebuyers. The median home values shot up by 39.27% from $78,400 in 2015 to $109,200 in 2022, positioning it as a prime spot for affordable real estate investments. The average... Read more
Knox County Market Trends
Knox County, Kentucky has seen median home values jump from $78,400 in 2015 to $109,200 in 2022, a significant 39.27% rise, positioning it as an interesting location for affordable real estate investment. Average residential energy tax credit per tax return spiked to $633.33 in 2021, suggesting an increase in energy-efficient home upgrades. Real estate taxes surged notably after 2016, with... Read more
Median Value of Occupied Housing Units in Knox County, Kentucky Over the Last 8 Years
Knox County, Kentucky has seen a steady increase in median home values over the past eight years, with the value rising from $78,400 in 2015 to $109,200 in 2022. This 39.27% increase is quite significant, especially when compared to Kentucky's statewide increase from $123,200 to $177,000 during the same period. Nationally, the rise was from $125,500 to $179,400. While Knox County's median home values remain lower than both state and national levels, its rapid appreciation could imply potential for investment opportunities, particularly for those looking for more affordable entry points in the housing market.
Residential Energy Tax Credit Per Tax Return in Knox County, KY Over the Last 8 Years
Knox County, Kentucky has seen fluctuations in its average residential energy tax credit per tax return over the past eight years, with a notable upswing in 2021 reaching $633.33. The period shows a general trend of rising values, particularly after a low in 2015 at $277.78. This upward trend may indicate increasing investments in energy-efficient home improvements, potentially driven by growing awareness and incentives. These changes are relevant for potential investors, movers, and real estate agents considering the economic and environmental initiatives influencing the area.
Average Real Estate Taxes Per Tax Return in Knox County, KY Over the Last 10 Years
Over the past decade, average real estate taxes per tax return in Knox County, Kentucky have shown a consistent upward trend, with notable increases from 2016 onward. Particularly significant jumps occurred between 2017 and 2018, where taxes surged from $1,748.87 to $2,207.14, and again between 2018 and 2019 with an increase to $2,473.91. This upward trajectory could imply rising property values or changes in tax rates, making it a pivotal consideration for potential investors, homeowners, real estate agents, and appraisers in the area.
Percentage of Farm Returns in Knox County, KY Over the Last 10 Years
Knox County, Kentucky has shown slight fluctuations in farm returns over the past decade, with percentages generally hovering around the 2.5% mark. Farm tax returns are essentially annual income tax returns filed by farm owners and indicate the financial activity and agricultural productivity in the county. Investors might consider the stability in these percentages as an indicator of consistent agricultural activity, which could impact land value and local agricultural business opportunities. Those moving to or building property in the area could find this consistency appealing for long-term agricultural projects.
Number of Mortgages by Occupancy Type in Knox County, KY Over the Last 5 Years in Knox County
Knox County, Kentucky, shows a notable fluctuation in mortgage counts over the past five years, with a consistent dominance of principal residence mortgages. Investment property mortgages have seen subtle increases, while second residence mortgages remain relatively insignificant. These shifts indicate the county's housing market is predominantly driven by primary residential purchases, which might reflect local economic factors or migration patterns. For investors, the small but growing interest in investment properties could signal emerging opportunities. For those looking to move or build, understanding these trends can shed light on neighborhood stability and potential return on investment, which are crucial when making informed decisions in real estate. Insurance agents and appraisers can also derive insights on market stability and risk from these occupancy trends.
Economic Outlook
Knox County, Kentucky has experienced a consistent rise in average taxable income per tax return, increasing from $34,537.32 in 2013 to $44,258.53 in 2021. This income growth could point toward greater economic stability, making the area more attractive for investors and homebuyers. Additionally, the average state and local income taxes per tax return have doubled over the same period, reaching $10,165.22 in 2021. This uptick in tax obligations is critical for both long-term residents and... Read more
Average Taxable Income per Tax Return in Knox County, KY over the last 9 years
Over the past nine years, Knox County, Kentucky has seen a steady rise in average taxable income per tax return, climbing from $34,537.32 in 2013 to $44,258.53 in 2021. This uptrend could suggest growing economic stability in the area, which may be appealing for potential investors, homebuyers, appraisers, and real estate agents. For those considering property development or insurance services, the increase in income levels might correlate with a stronger market and potentially higher asset values, albeit with cautious optimism as trends can shift. This data may also interest current residents or anyone planning to move to Knox County, offering a snapshot of financial growth and possibly broader community prosperity.
Average State and Local Income Taxes Per Tax Return in Knox County, KY Over the Last 10 Years
Knox County, Kentucky has seen a notable rise in average state and local income taxes per tax return over the last decade, starting at $5,071.62 in 2012 and climbing steadily to reach $10,165.22 by 2021. This upward trend highlights increasing tax obligations that could impact both long-term residents and potential new investors. Understanding this financial landscape is crucial for making informed decisions about living or investing in this area.
Average Total Tax Liability Per Tax Return in Knox County, KY Over the Last 10 Years
Over the past decade, Knox County, Kentucky has seen a fluctuating but generally increasing trend in average total tax liability per tax return, rising from approximately $4336.75 in 2012 to around $5480.47 in 2021. Notable jumps occurred in 2015 and 2021, suggesting possible economic or policy changes during these periods. For investors and property developers, these tax trends could indicate evolving economic conditions in the county, which might affect financial planning and strategic decisions. Residents contemplating a move to Knox County may benefit from considering these tax liabilities in their cost-of-living assessments.
Cost of Living in Knox County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $983 | $1,283 | $1,722 | $1,113 | $1,020 |
| 1 adult 4 children | $983 | $1,048 | $1,317 | $1,113 | $1,054 |
| 2 adults 3 children | $983 | $1,048 | $1,495 | $1,113 | $836 |
| 1 adult 3 children | $983 | $856 | $1,089 | $1,113 | $832 |
| 2 adults 2 children | $742 | $858 | $1,267 | $967 | $734 |
| 1 adult 2 children | $742 | $641 | $861 | $967 | $634 |
| 2 adults 1 child | $742 | $678 | $1,039 | $493 | $690 |
| 1 adult 1 child | $742 | $438 | $633 | $493 | $570 |
| 2 adults | $564 | $545 | $811 | $0 | $584 |
| 1 adult | $538 | $297 | $406 | $0 | $495 |
Safety trends & Data
Knox County, Kentucky has seen significant changes in property crime over the past five years. Burglary rates peaked in 2018 with 20.00 arrests but dropped to a low of 9.00 in 2022. Larceny-Theft also saw a decline from 34.00 cases in 2018 to just 7.00 cases by 2022. Motor Vehicle Theft remained minimal, fluctuating between 1.00 and 7.00 cases. These declining trends in property crime might impact property values and insurance premiums, potentially making the area more attractive to investors... Read more
Property Crime Trends in Knox County, KY Over the Last 5 Years
Knox County, Kentucky has seen notable fluctuations in property crime over the past five years. Burglary incidents peaked in 2018 with 20.00 arrests, while showing a general decline and erratic pattern thereafter, hitting a low of 9.00 in 2022. Larceny-Theft, initially the highest in 2018 with 34.00 cases, saw a significant drop and maintained a relatively lower occurrence rate, achieving 7.00 cases by 2022. Motor Vehicle Theft remained minimal, fluctuating between 1.00 and 7.00 cases annually. Embezzlement, Fraud, and Vandalism saw varying minor spikes but stayed generally low. This pattern suggests an overall decline and stabilizing trend in property crime, which could potentially influence property values and insurance premiums, impacting those looking to invest or move to the area.
Demographics
Knox County, Kentucky shows a nearly even split between its male and female adult population. Educational attainment highlights a significant chunk of the population with only a high school diploma, while a relatively small proportion holds a bachelor's degree or higher. Age-wise, there's a balanced distribution across different age groups, though those 55 to 64 years slightly edge out other segments. Racially, the county is predominantly White, with very small representations from other racial... Read more
Race Distribution in Knox County, Kentucky (2022)
Educational Attainment in Knox County, Kentucky (2022)
Age Distribution in Knox County, Kentucky
Citizen Population in Knox County, Kentucky (2022)
Political Trends & Data
Real estate trends in Knox County, Kentucky, could be influenced by its political leanings, with around 83% of votes potentially leaning Republican in the 2020 Presidential Election. This conservative inclination might appeal to buyers and investors who prefer areas with similar political climates, shaping preferences for property developments and neighborhood... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Knox County, Kentucky, potentially saw a significant lean towards the Republican Party in the 2020 U.S. Presidential Election, with around 83% of votes. The Democratic Party may have attracted about 16%, while third-party candidates, including the Libertarian Party, garnered minimal support. This trend might indicate a prevailing conservative inclination in the county's political landscape.
82.97% of voters voted for the Republican party in the 2020 Presidential Election
15.93% of voters voted for the Democrat party in the 2020 Presidential Election
0.82% of voters voted for the Livertarian party in the 2020 Presidential Election
0.29% of voters voted for the Other party in the 2020 Presidential Election
School Data
In Knox County, Kentucky, the fluctuating student-to-teacher ratio, which spiked to over 30:1 in 2022, might concern potential investors, parents, and education authorities due to its potential impact on classroom quality and individual student attention. This volatility could influence the desirability of the local education system for those looking to move to the area. Real estate agents, appraisers, and insurance agents may also see this instability as a risk factor affecting property values... Read more
Student-to-teacher ratio in Knox County, Kentucky over the last 10 years
In Knox County, Kentucky, the student-to-teacher ratio has seen some notable fluctuations over the past decade. Early years like 2014 had low ratios around 12, which approached closer to the national average of 14 students per teacher. However, there were considerable spikes, such as in 2016 with an 18:1 ratio and a startling peak at over 30 in 2022. This volatility might concern potential investors, parents, and education authorities due to the potential implications for classroom quality and individual student attention. For real estate agents and those looking to move to the area, such ratios could impact the desirability of the local education system. Additionally, appraisers and insurance agents might view this instability as a risk factor influencing property values and insurance assessments.
