Laurel County Real Estate and Livability Trends
Laurel County, Kentucky has experienced notable economic shifts over the past decade, showing increased average taxable incomes and a substantial rise in local and state income taxes. Real estate prices have surged, yet still lag behind state and national medians, possibly suggesting investment potential in a growing market. Fluctuations in tax credits and a stable demand for homeownership,... Read more
Laurel County Market Trends
Laurel County's median home values jumped from $94,400 in 2015 to $141,300 in 2022, creating potential opportunities for investors in a market that lags behind Kentucky’s $177,000 and the national $179,400 medians. Residential energy tax credits showed substantial variability, peaking in 2018 at $1,400 before stabilizing around $1,260.87 in recent years, indicating increased investments in... Read more
Median Value of Occupied Housing Units in Laurel County, Kentucky Over the Last 8 Years
Laurel County's median home values have shown a steady increase over the past eight years, jumping from $94,400 in 2015 to $141,300 in 2022. While this growth is promising for local homeowners, it's worth noting that it still lags behind both state and national trends. Kentucky's overall median home value for 2022 is $177,000, and the national median stands at $179,400. This gap could represent a significant opportunity for investors looking for more affordable property options in a market that’s still experiencing upward momentum.
Residential Energy Tax Credit Per Tax Return in Laurel County, KY Over the Last 9 Years
Residential energy tax credits in Laurel County, Kentucky have shown significant variability over the past nine years. Starting at $306.67 in 2013, they saw a notable rise, especially peaking in 2018 at $1400.00. Although there was a drop immediately after, more recent years like 2020 and 2021 show credits bouncing back to $866.67 and $1260.87, respectively. This suggests a trend towards more substantial investments in energy-efficient home improvements, which can be an attractive point for potential investors and homebuyers looking for long-term utility savings. Real estate and insurance agents might find this data useful in appraising properties and assessing associated risks based on modernization and energy savings investments.
Average Real Estate Taxes Per Tax Return in Laurel County, KY Over the Last 10 Years
Over the past decade, Laurel County, Kentucky has experienced fluctuations in real estate taxes per tax return, with a marked increase beginning in 2018. Taxes hovered around the $1,400 to $1,500 range from 2012 to 2017, but there was a notable spike in 2018, jumping to approximately $2,329. This trend continued with peaks and dips, reaching a high in 2020 at around $2,603 before slightly decreasing in 2021 to about $2,518. Those considering investments or property developments should be aware of these potential tax implications, while real estate agents and appraisers may find the data useful for market analysis.
Percentage of Farm Returns in Laurel County, KY Over the Last 10 Years
Over the last decade, the percentage of farm returns in Laurel County, Kentucky has shown a general decline from 4.07% in 2012 to 3.56% in 2021. Although there are slight fluctuations, the overall trend suggests a downturn in farm tax filings. Farm tax returns reflect the presence and economic activity of agricultural operations in the region, which could impact land values, investment opportunities, and local economy health. For potential investors, builders, or residents, understanding this trend might hint at shifting economic dynamics or emerging opportunities in other sectors.
Number of Mortgages by Occupancy Type in Laurel County, KY Over the Last 5 Years in Laurel County
Over the last five years in Laurel County, Kentucky, principal residences dominate the mortgage market, consistently outpacing investment and second properties. Notably, mortgages for principal residences peaked at 3000 in 2020 before slightly receding to 2433 by 2022. Investment properties also saw minor fluctuations, while second residences maintained relatively low but steady numbers. These shifts offer insights into local demand, guiding investors, real estate agents, and insurance professionals by highlighting where interest is trending. For potential homeowners, high principal residence activity suggests a robust and competitive market.
Economic Outlook
Over the past nine years, Laurel County, Kentucky has witnessed a general rise in average taxable income per tax return, jumping from $40,455.86 in 2013 to $56,381.43 in 2021. Alongside this, state and local income taxes have considerably increased from $5,989.28 in 2012 to a hefty $16,198.51 in 2021, particularly spiking in 2018 and 2020. Moreover, the average total tax liability per tax return also climbed from $5,928.75 in 2012 to $8,468.61 in 2021, suggesting potential economic growth or... Read more
Average Taxable Income per Tax Return in Laurel County, KY over the last 9 years
Over the past nine years, the average taxable income per tax return in Laurel County, Kentucky has generally been on the rise, with occasional fluctuations. Notably, the income saw a significant increase from $40,455.86 in 2013 to $56,381.43 in 2021, suggesting a robust economic growth trend in the region. This upward trend could be appealing for potential investors or those looking to build property in the area, as it indicates increased earning potential for residents. For real estate agents and insurers, such economic growth might signal a demand for higher-valued properties and corresponding insurance products.
Average State and Local Income Taxes Per Tax Return in Laurel County, KY Over the Last 10 Years
Over the last decade in Laurel County, Kentucky, average state and local income taxes per tax return have seen a significant increase, rising from approximately $5,989.28 in 2012 to a substantial $16,198.51 in 2021. This steady climb, particularly with notable spikes in 2018 and 2020, underscores a shifting fiscal landscape that potential investors, new residents, and property developers need to consider. High tax returns may impact overall living costs and investment returns, making it crucial to keep this financial trend in mind when making decisions related to the area.
Average Total Tax Liability Per Tax Return in Laurel County, KY Over the Last 10 Years
Over the past decade, Laurel County, Kentucky has seen a fluctuating but generally increasing trend in average total tax liability per tax return. Starting from $5,928.75 in 2012, there was a notable rise reaching $8,468.61 in 2021. This indicates a potential economic growth or changes in tax policy affecting residents. For potential investors or those considering relocation, this trend might hint at evolving economic conditions, impacting disposable income and possibly indicating a more prosperous local environment over time.
Cost of Living in Laurel County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $992 | $1,267 | $1,722 | $1,113 | $1,037 |
| 1 adult 4 children | $992 | $1,035 | $1,317 | $1,113 | $1,076 |
| 2 adults 3 children | $992 | $1,035 | $1,495 | $1,113 | $850 |
| 1 adult 3 children | $992 | $845 | $1,089 | $1,113 | $855 |
| 2 adults 2 children | $769 | $847 | $1,267 | $967 | $757 |
| 1 adult 2 children | $769 | $633 | $861 | $967 | $664 |
| 2 adults 1 child | $769 | $670 | $1,039 | $493 | $715 |
| 1 adult 1 child | $769 | $432 | $633 | $493 | $598 |
| 2 adults | $590 | $538 | $811 | $0 | $610 |
| 1 adult | $558 | $293 | $406 | $0 | $523 |
Safety trends & Data
Over the past five years, property crimes in Laurel County, Kentucky have shown varied trends, with larceny-theft peaking at 176.00 arrests in 2019 but dropping to 85.00 arrests by 2022. Burglary and motor vehicle theft incidents have also seen declines, with motor vehicle theft dropping significantly from 34.00 in 2018 to just 6.00 in 2022. Relatively low rates of embezzlement and arson might indicate a modest improvement in overall property crime rates, potentially signaling increased safety... Read more
Property Crime Trends in Laurel County, KY Over the Last 5 Years
Over the last five years, property crimes in Laurel County, Kentucky have shown varied trends. Larceny-theft remains the most frequent crime, peaking at 176.0 arrests in 2019 before gradually decreasing to 85.0 arrests in 2022. Burglary and motor vehicle theft incidents have also declined over the same period, with motor vehicle theft dropping significantly from 34.0 arrests in 2018 to just 6.0 arrests in 2022. Meanwhile, crimes like embezzlement and arson have remained relatively low throughout the years. This data suggests a modest improvement in overall property crime rates, which could be a positive signal for potential investors, property buyers, and local residents considering the area's safety and stability.
Demographics
Laurel County, Kentucky's demographic trends for 2022 reveal a gender distribution that's almost evenly split between males and females, with a slightly higher count of females. The county's educational landscape shows a predominant number of high school graduates, yet a significant portion of the population has not advanced beyond high school. Age distribution suggests a balanced mix across various age groups, with noticeable larger segments in both the young and middle-aged brackets. The... Read more
Race Distribution in Laurel County, Kentucky (2022)
Educational Attainment in Laurel County, Kentucky (2022)
Age Distribution in Laurel County, Kentucky
Citizen Population in Laurel County, Kentucky (2022)
Political Trends & Data
Laurel County, Kentucky, exhibited a strong Republican preference in the 2020 U.S. Presidential Election, with the party securing around 83% of the vote. The Democratic party drew about 16%, while minor parties collectively got just over 1%. This could indicate a significant Republican inclination for the area, possibly mirroring broader political tendencies within... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Laurel County, Kentucky, the 2020 U.S. Presidential Election results suggest a dominant preference for the Republican party, which garnered approximately 83% of the vote. The Democratic party, on the other hand, attracted about 16% of the voters. Minor parties, including Libertarian and others, collectively received just over 1% of the votes. This trend might point to a strong Republican inclination in this area, which could be reflective of broader regional political leanings in Kentucky.
82.69% of voters voted for the Republican party in the 2020 Presidential Election
15.92% of voters voted for the Democrat party in the 2020 Presidential Election
1.00% of voters voted for the Livertarian party in the 2020 Presidential Election
0.38% of voters voted for the Other party in the 2020 Presidential Election
School Data
Laurel County, Kentucky has seen its student-to-teacher ratio fluctuate significantly over the past decade, peaking at 17 in 2016 and dipping to 14 in 2022. Typically higher than the national average of 14, these shifts could influence perceptions of educational quality, presenting potential challenges in classroom management and individualized student attention. For real estate agents, investors, and families, these trends might be a critical factor when evaluating property values and... Read more
Student-to-teacher ratio in Laurel County, Kentucky over the last 10 years
Over the past decade, Laurel County, Kentucky has experienced fluctuations in its student-to-teacher ratio, peaking at 17 in 2016 and reaching a low of 14 in 2022. These numbers have often been higher than the national average of 14 students per teacher, suggesting potential challenges in classroom management and individualized attention for students. For prospective investors, real estate agents, and families considering a move, these variations can impact perceptions of educational quality in the area. Additionally, appraisers and insurance agents might find these trends relevant when assessing property values and community profiles, as educational factors often weigh heavily on such evaluations.
