Lawrence County Real Estate and Livability Trends
Lawrence County, Kentucky's real estate market reveals a blend of affordability and growth potential, with median home values climbing to $100,300, markedly below state and national medians. This affordability could be a magnet for new residents and investors, despite rising real estate taxes peaking at $2,866.67 in 2020. Moreover, the steady increase in average taxable incomes, reaching... Read more
Lawrence County Market Trends
Median home values in Lawrence County, Kentucky, have recently spiked to $100,300, well below the state median of $177,000 and the national median of $179,400, suggesting a more affordable housing market. This affordability could be a draw for investors and new residents eyeing lower entry costs. Residential energy tax credits have also seen peaks, hitting $633.33 in 2020, indicating shifts in... Read more
Median Value of Occupied Housing Units in Lawrence County, Kentucky Over the Last 8 Years
Median home values in Lawrence County, Kentucky have seen fluctuations but showed a major uptick recently, reaching $100,300. These values are lower when compared to Kentucky's state median, which hit $177,000 in 2022, and the national median of $179,400. This difference might indicate a more affordable housing market in Lawrence County, potentially making it an attractive option for investors or those looking to move to an area with lower entry costs. The significant jump from $91,800 in 2020 to over $100,000 in 2022 implies a growing market, which could result in promising returns on investment if the trend continues.
Residential Energy Tax Credit Per Tax Return in Lawrence County, KY Over the Last 7 Years
In Lawrence County, Kentucky, residential energy tax credits per tax return have fluctuated over the past seven years, with notable peaks in 2014 at $460.00 and 2020 at $633.33. Such variability may suggest shifts in energy efficiency investments or policy changes affecting tax incentives. This trend can provide valuable insights for investors, real estate agents, appraisers, and insurance agents regarding the adoption of energy-efficient technologies in the area, potentially influencing property values and the attractiveness of this location for environmentally-conscious buyers or tenants.
Average Real Estate Taxes Per Tax Return in Lawrence County, KY Over the Last 10 Years
Over the last decade, Lawrence County, Kentucky has seen gradual increases in average real estate taxes per tax return, with notable jumps around 2018 when they increased to $2,633.33 and continued to rise, peaking at $2,866.67 in 2020. Even though there's a slight decrease in 2021 to $2,571.43, the general upward trend suggests potential implications for property buyers and investors. This increase in real estate taxes could impact purchasing decisions, long-term investments, and property valuations. It's crucial for stakeholders like real estate agents, appraisers, and potential residents to factor these rising costs into their assessments and future planning.
Percentage of Farm Returns in Lawrence County, KY Over the Last 10 Years
Over the past decade, Lawrence County, Kentucky, has seen a subtle but notable decline in the percentage of farm tax returns. Starting at approximately 4.81% in 2012, the figure has progressively decreased to around 3.74% by 2021. Farm tax returns, which represent filings from agricultural operations regarding income and property-related taxes, offer insights into the economic activity and viability of farming in the region. This downward trend might suggest a shift in land use or economic focus away from traditional farming, which could be crucial for potential investors, developers, and residents to consider.
Number of Mortgages by Occupancy Type in Lawrence County, KY Over the Last 5 Years in Lawrence County
Lawrence County, Kentucky has seen significant swings in mortgage counts for different occupancy types over the past five years, particularly in principal residences which dominate with consistently high counts compared to others. Investment property mortgages have stayed relatively low yet stable, while second residences make up the smallest fraction but show minor fluctuations. This trend can be crucial for investors and builders as it indicates a predominantly owner-occupied market with limited investment and vacation property activities. Real estate agents and insurance agents might find this data valuable when advising clients, as it suggests a more stable, less speculative housing environment. For appraisers, understanding these dynamics is essential for accurate property valuation.
Economic Outlook
In Lawrence County, Kentucky, the average taxable income per tax return has steadily risen over the past nine years, hitting a peak of $49,282.37 in 2021. This could be a sign of economic growth and increased prosperity, making the area appealing to investors and new residents due to potential job opportunities and a tighter housing market. However, state and local income taxes have also climbed, averaging $8,028.57 in 2021, which means higher financial obligations for both residents and... Read more
Average Taxable Income per Tax Return in Lawrence County, KY over the last 9 years
Over the past nine years, Lawrence County, Kentucky has exhibited a steady increase in average taxable income per tax return, with a notable peak in 2021 reaching $49,282.37. This upward trend suggests potential economic growth and increased prosperity in the area, which could be attractive to investors, potential new residents, appraisers, and real estate agents. For those interested in property development or considering moving, this could imply better job opportunities and a more robust local economy, supporting a tighter housing market and possibly higher property values.
Average State and Local Income Taxes Per Tax Return in Lawrence County, KY Over the Last 10 Years
Lawrence County, Kentucky has seen notable fluctuations in average state and local income taxes per tax return over the past decade. In 2012, the taxes averaged $5481.82 but peaked significantly to $7800.00 in 2018 and further rose to $8016.67 in 2020, maintaining high levels into 2021 at $8028.57. These rising tax values indicate a growing financial obligation for residents and potential investors, highlighting the importance of considering long-term tax liabilities when planning to invest or relocate to the area.
Average Total Tax Liability Per Tax Return in Lawrence County, KY Over the Last 10 Years
Over the past decade in Lawrence County, Kentucky, the average total tax liability per tax return has demonstrated some variability, peaking in 2015 at $6,122.92 and dipping in 2018 to $5,272.17. Such fluctuations are noteworthy for investors and potential property owners, indicating an environment with shifting economic conditions that could influence fiscal planning. With a recent rise to $6,100 in 2021, stakeholders should consider these trends when making financial decisions related to the area.
Cost of Living in Lawrence County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,046 | $1,259 | $1,612 | $1,113 | $1,015 |
| 1 adult 4 children | $1,046 | $1,028 | $1,231 | $1,113 | $1,062 |
| 2 adults 3 children | $1,046 | $1,028 | $1,399 | $1,113 | $837 |
| 1 adult 3 children | $1,046 | $839 | $1,019 | $1,113 | $846 |
| 2 adults 2 children | $742 | $842 | $1,187 | $967 | $717 |
| 1 adult 2 children | $742 | $629 | $806 | $967 | $626 |
| 2 adults 1 child | $742 | $665 | $974 | $493 | $678 |
| 1 adult 1 child | $742 | $430 | $593 | $493 | $567 |
| 2 adults | $564 | $534 | $761 | $0 | $577 |
| 1 adult | $538 | $292 | $381 | $0 | $496 |
Safety trends & Data
Lawrence County, Kentucky has experienced fluctuating property crime trends, with notable spikes in burglary in 2018 and 2022 at 9.0 cases each year. Larceny-theft peaked in 2018 with 12.0 instances but sharply declined to just 1.0 in 2022. Fraud cases saw an increase to 5.0 incidents in 2021, while stolen property offenses remained mostly steady but surged to 5.0 in 2020. These variations could influence decisions for property investors, insurers, and future residents considering... Read more
Property Crime Trends in Lawrence County, KY Over the Last 5 Years
Lawrence County, Kentucky has seen fluctuating trends in property crime over the last five years, with certain categories like burglary showing a spike in 2018 and 2022 with 9.0 reported cases each year. Larceny-theft appears to have peaked at 12.0 instances in 2018 but has significantly declined in recent years, hitting a low of 1.0 in 2022. Fraud cases have been inconsistent, with a noticeable increase to 5.0 incidents in 2021. Stolen property offenses have remained relatively stable but spiked to 5.0 in 2020. These trends could matter for potential property investors, insurers, and new residents seeking safer areas.
Demographics
In Lawrence County, Kentucky, the population shows a slightly higher number of females than males. Education levels suggest that a significant portion of adults have completed high school, though advanced degrees are less common, implying potential areas for further educational outreach. Age distribution indicates a relatively even spread across different age groups, with a notable proportion of residents aged 55 and over. The racial makeup is predominantly White, highlighting limited racial... Read more
Race Distribution in Lawrence County, Kentucky (2022)
Educational Attainment in Lawrence County, Kentucky (2022)
Age Distribution in Lawrence County, Kentucky
Citizen Population in Lawrence County, Kentucky (2022)
Political Trends & Data
Lawrence County, Kentucky, might show a strong Republican presence, as roughly 81% of the 2020 U.S. Presidential Election votes leaned Republican. Democrats only managed about 18%, and third parties received minimal support. This trend could suggest that the county leans conservatively, which might influence local real estate dynamics and community... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Lawrence County, Kentucky, the 2020 U.S. Presidential Election results suggested a significant leaning toward the Republican side, with around 81% of the vote. Democrats garnered approximately 18%, while third parties such as the Libertarians and others collectively received minimal support. This distribution may indicate a strong Republican presence and possibly conservative values in this area.
80.99% of voters voted for the Republican party in the 2020 Presidential Election
17.80% of voters voted for the Democrat party in the 2020 Presidential Election
0.72% of voters voted for the Livertarian party in the 2020 Presidential Election
0.49% of voters voted for the Other party in the 2020 Presidential Election
School Data
Lawrence County, Kentucky's student-to-teacher ratio has been on a downward trend over the past decade, from 16 in 2014 to about 14 in 2023. Matching the national average, this improvement in educational conditions might attract more families to the area. For investors and real estate agents, such trends could potentially boost property desirability, while appraisers and insurance agents might view it as a factor in property valuations and risk assessments. Builders could find this... Read more
Student-to-teacher ratio in Lawrence County, Kentucky over the last 10 years
Lawrence County, Kentucky has experienced a generally decreasing student-to-teacher ratio over the past decade, dropping from 16 in 2014 to around 14 in 2023, which closely matches the national average of 14 students per teacher. For investors and real estate agents, this trend might indicate improving educational conditions, which could make the area more attractive to families. Appraisers and insurance agents should consider this dynamic as a potential factor in property valuations and risk assessments. Those building property in the area may also see an advantage, as better school conditions can drive demand.
