Lewis County Real Estate and Livability Trends
Lewis County, Kentucky has seen a notable rise in average taxable income, climbing from $36,302.28 in 2013 to around $44,966.46 by 2021, reflecting a region of economic interest for investors and developers. Median home values have jumped from $67,100 in 2015 to $83,400 in 2022, indicating a strengthening real estate market. Mortgage activity has surged, peaking at 440 in 2021, hinting at an... Read more
Lewis County Market Trends
Median home values in Lewis County, Kentucky, have risen significantly from $67,100 in 2015 to $83,400 in 2022, standing out against wider market trends where state and national values have increased more sharply. Average real estate taxes per tax return have also climbed from $865.00 in 2012 to $1,625.00 in 2021, indicating a potentially strengthening market. The percentage of farm tax returns... Read more
Median Value of Occupied Housing Units in Lewis County, Kentucky Over the Last 8 Years
The median home values in Lewis County, Kentucky have seen an upward trend over the past eight years, hitting $83,400 in 2022 from $67,100 in 2015. While these values have fluctuated, the most recent surge is significant compared to state and national trends. In contrast, Kentucky's median values climbed from $123,200 to $177,000, and the national median jumped from $125,500 to $179,400 in the same period. If you're considering investing, moving, or building in Lewis County, it's meaningful to note that the area remains considerably more affordable than broader markets, potentially offering cost-effective opportunities amidst regional and national price escalations.
Residential Energy Tax Credit Per Tax Return in Lewis County, KY Over the Last 8 Years
Residential energy tax credits in Lewis County, Kentucky have shown notable fluctuations over the past eight years, reflecting varied investment in energy efficiency measures. The highest average credit observed was $588.89 in 2016, suggesting significant uptake of eligible improvements. Conversely, a noticeable dip to $275.00 in 2021 indicates a potential decline in such activities. For investors and real estate agents, these trends might suggest periods when energy-efficient upgrades were more aggressively pursued, impacting property values and appeal. For appraisers and insurance agents, understanding these fluctuations can provide insights into the evolving standards of home energy efficiency in the area.
Average Real Estate Taxes Per Tax Return in Lewis County, KY Over the Last 10 Years
Over the past decade, Lewis County, Kentucky has experienced a notable increase in average real estate taxes per tax return. Starting at $865.00 in 2012, the figure saw gradual rises, peaking at $1,700.00 in 2020 before slightly dipping to $1,625.00 in 2021. This trend suggests a growing property tax burden, which could imply rising property values or adjustments in tax rates. For prospective investors, this could be indicative of a strengthening real estate market, while current homeowners might want to consider the impact on their expenses. Appraisors and insurance agents should note the historical hike for contextual assessments and policy adjustments.
Percentage of Farm Returns in Lewis County, KY Over the Last 10 Years
Since 2012, the percentage of farm tax returns in Lewis County, Kentucky has shown a gradual decline from 11.74% to around 9.03% in 2021. Farm tax returns, which reflect the number of tax filings associated with agricultural activities, indicate farm business ownership or income generation from farming within the county. This trend could suggest a shift in the local economy, possibly moving away from agriculture toward other forms of employment or economic activity. For developers or investors, this might imply a potential for diversification or re-purposing of land. For residents and those looking to move, this trend might affect agricultural community dynamics and local agricultural services.
Number of Mortgages by Occupancy Type in Lewis County, KY Over the Last 5 Years in Lewis County
Over the past five years in Lewis County, Kentucky, there's been a noticeable fluctuation in the number of mortgages by occupancy type. Principal residences have seen a significant increase, particularly peaking in 2021 with 440 approved mortgages compared to just 242 in 2019 and 318 in 2020. Meanwhile, the number of investment property mortgages has remained relatively stable, hovering around 12 per year. Second residences have shown moderate variation, with a slight peak in 2020. These changes can have meaningful implications for various stakeholders; increasing numbers of principal residence mortgages suggest a growing local population, which can fuel demand for local services and amenities. For investors, the stability in investment property mortgages might indicate consistent rental opportunities. Appraisers and real estate agents will find these trends critical for valuations and advising clients, while insurers might adjust their policy offerings based on the evolving occupancy landscape in the region.
Economic Outlook
Lewis County, Kentucky has witnessed a steady rise in average taxable income per tax return, climbing from $36,302.28 in 2013 to around $44,966.46 by 2021, suggesting potential economic growth that may attract investors and developers. Concurrently, average state and local income taxes have increased markedly, starting at $4,375.00 in 2012 and reaching $7,020.00 in 2021, indicating evolving fiscal policies. The average total tax liability also shows a general upward trend, peaking at $5,177.30... Read more
Average Taxable Income per Tax Return in Lewis County, KY over the last 9 years
Lewis County, Kentucky has seen a steady increase in average taxable income per tax return over the past nine years. Starting from $36,302.28 in 2013, this figure has climbed to approximately $44,966.46 by 2021. This trend could suggest a strengthening local economy, making it potentially appealing for investors, builders, and real estate agents looking for new opportunities. The upward shift in income levels might also influence local property values and insurance valuations, offering favorable conditions for anyone considering moving to or doing business in the area.
Average State and Local Income Taxes Per Tax Return in Lewis County, KY Over the Last 10 Years
Over the past decade, Lewis County, Kentucky has seen a notable increase in average state and local income taxes per tax return. Starting at $4,375.00 in 2012, the amounts have consistently risen, peaking at $7,200.00 in 2019. While there was a slight dip in 2020 to $6,540.00, the value rebounded to $7,020.00 in 2021. These trends indicate a steady growth in taxation, which could impact both current residents and potential investors by reflecting the economic developments and fiscal policies of the region.
Average Total Tax Liability Per Tax Return in Lewis County, KY Over the Last 10 Years
Lewis County, Kentucky has seen a general upward trend in average total tax liability per tax return over the past decade, with noticeable increases each year. Although there was a slight dip around 2018 and 2019, the numbers bounced back, with 2021 recording a higher jump to $5177.30. For those considering investment or relocation, this steady rise in tax liability could reflect higher incomes or changes in local tax policy, impacting financial decisions.
Cost of Living in Lewis County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $995 | $1,223 | $1,612 | $1,113 | $990 |
| 1 adult 4 children | $995 | $998 | $1,231 | $1,113 | $1,034 |
| 2 adults 3 children | $995 | $999 | $1,399 | $1,113 | $818 |
| 1 adult 3 children | $995 | $815 | $1,019 | $1,113 | $823 |
| 2 adults 2 children | $742 | $818 | $1,187 | $967 | $719 |
| 1 adult 2 children | $742 | $611 | $806 | $967 | $629 |
| 2 adults 1 child | $742 | $646 | $974 | $493 | $681 |
| 1 adult 1 child | $742 | $417 | $593 | $493 | $572 |
| 2 adults | $650 | $519 | $761 | $0 | $609 |
| 1 adult | $538 | $283 | $381 | $0 | $500 |
Safety trends & Data
Lewis County, Kentucky has experienced fluctuating property crime trends over the last four years. Larceny-theft incidents, for instance, peaked at 3 in 2020 before returning to 2019 levels by 2022. Burglary arrests spiked at 5 incidents in 2021 but dramatically dropped to just 1 by 2022. Interesting patterns in 2022 include steady occurrences of stolen property and vandalism cases, holding at 2 and 1 respectively. This variability might reflect unstable socio-economic conditions, offering... Read more
Property Crime Trends in Lewis County, KY Over the Last 4 Years
Lewis County, Kentucky has seen fluctuating property crime trends over the last four years. While larceny-theft incidents peaked at 3 in 2020, they returned to 2019 levels by 2022. Burglary arrests saw a notable spike in 2021 with 5 incidents, but dramatically decreased to just 1 by 2022. An interesting pattern in 2022 is the consistent presence of stolen property and vandalism cases, each holding steady at 2 and 1 respectively. This ongoing variability in crime trends could point to unstable socio-economic conditions, which might be crucial for potential investors, property developers, realtors, and anyone considering moving to the area. Having this historical crime data provides valuable insights for appraisers and insurance agents working within the county.
Demographics
Lewis County, Kentucky's demographics reveal a nearly equal split between male (4,980) and female (5,082) adults. High school education appears dominant (4,052), but there may be challenges in higher education attainment, with graduate degrees held by only 389 individuals. Individuals aged 55 to 64 years form a significant age group, while those 75 and older are less prominent. The racial makeup is overwhelmingly White (12,683), with minimal representation from other races, hinting at limited... Read more
Race Distribution in Lewis County, Kentucky (2022)
Educational Attainment in Lewis County, Kentucky (2022)
Age Distribution in Lewis County, Kentucky
Citizen Population in Lewis County, Kentucky (2022)
Political Trends & Data
Lewis County, Kentucky, leans heavily Republican, with nearly 85% of voters supporting the GOP in the 2020 U.S. Presidential Election. This community's conservative values could influence various aspects of local policy and lifestyle, potentially affecting everything from educational priorities to business... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Lewis County, Kentucky, the 2020 U.S. Presidential Election results show a significant leaning towards the Republican party, with nearly 85% of the vote. The Democratic party trailed considerably, capturing around 14%, while the Libertarians garnered just over 1%. This dominant Republican presence could imply strong conservative values and priorities within the community.
84.75% of voters voted for the Republican party in the 2020 Presidential Election
13.99% of voters voted for the Democrat party in the 2020 Presidential Election
1.04% of voters voted for the Livertarian party in the 2020 Presidential Election
0.22% of voters voted for the Other party in the 2020 Presidential Election
School Data
Lewis County, Kentucky has experienced a significant drop in its student-to-teacher ratio, going from over 16 students per teacher in 2014 to just over 10 in 2023. This improvement could signal better educational opportunities and individualized attention, making the area more appealing for families and investors. Moreover, this trend can be a key selling point for real estate agents and builders while influencing property valuation and risk assessments for appraisers and insurance agents.... Read more
Student-to-teacher ratio in Lewis County, Kentucky over the last 10 years
Over the past decade, Lewis County, Kentucky has seen a notable shift in its student-to-teacher ratio. Starting at over 16 students per teacher in 2014, the ratio has dramatically declined to just over 10 in 2023. This reduction suggests smaller class sizes, which might improve individualized attention and overall student outcomes. For those looking to invest in or move to the area, this trend could indicate a stronger educational environment compared to the national average of 14 students per teacher. Real estate agents and builders might find this appealing for marketing purposes, while appraisers and insurance agents can consider it a factor in property valuation and risk assessments.
