Lyon County Real Estate and Livability Trends
Lyon County, Kentucky has seen a notable rise in average taxable income per tax return, peaking at $66,145.97 in 2021, alongside increased average state and local income taxes at $8,958.33. This hints at economic growth potentially driving up property values. The real estate market also reflected this trend, with property values reaching $164,100.00 in 2022. Mortgage activity has surged,... Read more
Lyon County Market Trends
Lyon County, Kentucky's real estate market has shown signs of increasing property value alignment with state and national medians, peaking at $164,100.00 in 2022. Trends in residential energy tax credits reflect varying investment levels in energy-efficient upgrades, with a significant spike in 2016 and gradual recovery by 2021. Real estate taxes have steadily increased over the past decade,... Read more
Median Value of Occupied Housing Units in Lyon County, Kentucky Over the Last 8 Years
Lyon County, Kentucky has experienced a positive trend in median home values, peaking at $164,100.00 in 2022, whereas the entire state of Kentucky saw its values reach $177,000.00 and the national median surged to $179,400.00. Although Lyon County's property values have generally lagged behind state and national figures, the gap appears to be narrowing. This shift may suggest emerging investment opportunities and an increasing desirability for those considering relocation, property development, or investment in Lyon County.
Residential Energy Tax Credit Per Tax Return in Lyon County, KY Over the Last 8 Years
Lyon County, Kentucky's average residential energy tax credit per tax return has shown notable fluctuations over the past eight years. While the early 2010s saw values around $285.00 to $333.00, a significant spike is observed in 2016, where the average soared to approximately $885.71—perhaps indicating a surge in energy-efficient home upgrades or incentives. The credit value subsequently decreased, hitting a low of $166.67 in 2019, before gradually rebounding to $325.00 in 2021. These shifts could suggest varying levels of investment in home energy efficiency or changes in state or federal incentives, valuable information for investors, appraisers, and those involved in property development or real estate in this region.
Average Real Estate Taxes Per Tax Return in Lyon County, KY Over the Last 10 Years
Lyon County, Kentucky has consistently seen an upward trend in real estate taxes per tax return over the last decade, jumping from $1,737.80 in 2012 to $2,930.77 in 2021. This increase might suggest rising property values or levy adjustments, meriting attention from potential investors and real estate agents. Particularly noteworthy is the significant spike observed between 2017 and 2018, where taxes per return surged by nearly $661.84, possibly indicating a shift in local fiscal policies or property market dynamics. For those considering property investments or appraisals, this steady growth could reflect both opportunities and higher costs.
Percentage of Farm Returns in Lyon County, KY Over the Last 10 Years
Over the last decade, Lyon County, Kentucky has seen a gradual decline in the percentage of farm tax returns filed, starting from approximately 6.36% in 2012 and dropping to around 4.38% by 2021. This trend may suggest a shift away from agricultural activities or a decrease in farm profitability. For potential investors, property developers, or residents, it indicates potential market changes and evolving economic opportunities within the county. Farm tax returns are filings that document income, expenses, and profits related to agricultural operations. Fewer farm returns can imply declining agricultural profits or a shift to other income sources, which might affect land value, zoning considerations, and local economic dynamics. Keeping an eye on these trends can offer valuable insights for strategic decision-making in the region.
Number of Mortgages by Occupancy Type in Lyon County, KY Over the Last 5 Years in Lyon County
In Lyon County, Kentucky, there has been a noticeable trend in mortgage activity over the past five years, particularly with principal residences dominating the market. Investors and those considering second homes might be intrigued by the fluctuations in mortgages for these categories. For example, investment property mortgages have remained relatively low, peaking slightly at 15 in 2022, whereas principal residences saw a significant jump in 2021 with 446 mortgages. Second residences had a notable drop from 100 in 2021 to 27 in 2022. These changing dynamics in occupancy types can influence property values, market stability, and insurance premiums, making them crucial for potential investors, real estate agents, and current residents to monitor.
Economic Outlook
Lyon County, Kentucky has experienced a significant rise in average taxable income per tax return over nine years, peaking at $66,145.97 in 2021, suggesting economic growth or shifting earning opportunities. The county's average state and local income taxes have also increased, reaching $8,958.33 in 2021, potentially reflecting a higher tax burden on residents. This trajectory of rising taxes and income levels, along with an increased total tax liability per return, which hit $9351.53 in 2021,... Read more
Average Taxable Income per Tax Return in Lyon County, KY over the last 9 years
Over a span of nine years, Lyon County, Kentucky has seen a significant overall increase in average taxable income per tax return. Starting at $46,288.79 in 2013 and reaching a peak of $66,145.97 in 2021, this trend might suggest economic growth or improved earning opportunities. The notable rise, especially between 2020 and 2021, with an increase of over $11,000, could be indicative of substantial local economic changes or tax policy shifts. This data may interest prospective investors, real estate agents, or individuals considering relocation, as it hints at a possible improvement in the financial well-being of the county's residents.
Average State and Local Income Taxes Per Tax Return in Lyon County, KY Over the Last 10 Years
Lyon County, Kentucky has seen a noticeable increase in average state and local income taxes per tax return over the past decade, with amounts rising from $5,316.42 in 2012 to $8,958.33 in 2021. The steady upward trend, especially the significant leaps in 2018 and 2020, signals an increased tax burden on residents, potentially affecting disposable income and investment attractiveness. Understanding this trajectory is crucial for those considering relocation, property investment, or business opportunities, as heightened tax liabilities can impact overall financial planning and living costs in the region.
Average Total Tax Liability Per Tax Return in Lyon County, KY Over the Last 10 Years
Over the last decade, the average total tax liability per tax return in Lyon County, Kentucky has shown a general upward trend, with notable peaks such as in 2021 at $9351.53. This kind of increase, particularly in recent years, might signal underlying economic growth or changes in tax legislation that affect local residents. For investors and potential property buyers, this could suggest a strengthening local economy, possibly accompanied by rising property values. However, it's essential to consider how these changes in tax liabilities may impact overall affordability for living or starting a business in the area.
Cost of Living in Lyon County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $940 | $1,283 | $1,746 | $1,012 | $1,046 |
| 1 adult 4 children | $940 | $1,048 | $1,335 | $1,012 | $1,111 |
| 2 adults 3 children | $940 | $1,048 | $1,515 | $1,012 | $870 |
| 1 adult 3 children | $940 | $856 | $1,104 | $1,012 | $878 |
| 2 adults 2 children | $772 | $858 | $1,284 | $878 | $794 |
| 1 adult 2 children | $772 | $641 | $873 | $878 | $680 |
| 2 adults 1 child | $772 | $678 | $1,053 | $442 | $735 |
| 1 adult 1 child | $772 | $438 | $642 | $442 | $609 |
| 2 adults | $598 | $545 | $822 | $0 | $634 |
| 1 adult | $560 | $297 | $411 | $0 | $525 |
Safety trends & Data
Lyon County, Kentucky, has witnessed fluctuating trends in property crimes over the past five years. Burglary incidents peaked at 13 in 2019 but dropped to four by 2022, and larceny-theft cases surged to 28 in 2019 before falling to seven in 2022. Other property crimes like forgery, fraud, and vandalism have varied but remain relatively low. These crime trends could influence property values, insurance rates, and investment attractiveness in the... Read more
Property Crime Trends in Lyon County, KY Over the Last 5 Years
Over the past five years, Lyon County, Kentucky, has seen noteworthy fluctuations in property crimes. Burglary incidents peaked in 2019 with 13 cases but have since fallen, with only four cases reported in 2022. Larceny-theft incidents notably spiked to 28 in 2019 and then reduced to seven by 2022. Other property crimes like forgery, fraud, and vandalism have shown varied trends but remain relatively low compared to burglary and theft. This pattern may impact market perceptions, influencing property values, insurance rates, and overall investment attractiveness in the region.
Demographics
Lyon County, Kentucky shows an interesting gender split with males making up a larger portion of the adult population. Educational attainment varies significantly, with the majority having completed high school, yet fewer advancing to higher degrees. The age distribution points to a balanced mix across age groups, though there’s a slight uptick in the 55-64 years category. Racially, the county is predominantly White, with limited diversity among other racial groups. This demographic profile... Read more
Race Distribution in Lyon County, Kentucky (2022)
Educational Attainment in Lyon County, Kentucky (2022)
Age Distribution in Lyon County, Kentucky
Citizen Population in Lyon County, Kentucky (2022)
Political Trends & Data
Lyon County, Kentucky, witnessed a strong Republican preference in the 2020 U.S. Presidential Election, with about 73% of the vote. Democrats received around 25%, while Libertarians managed only about 0.6%. This political dynamic may influence local policies and priorities, potentially affecting community projects and development initiatives. Smaller parties barely made a dent, suggesting a limited diversity in political viewpoints, which might impact the county's approach to governance and... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Lyon County, Kentucky, the 2020 U.S. Presidential Election leaned heavily Republican, with roughly 73% of the votes. Democrats garnered around 25%, while Libertarians captured a minor share at approximately 0.6%. These figures might reflect the county's political inclination, though local issues and candidate appeal could also play a role. Smaller parties, such as the Green Party and others, made negligible impact, indicating limited diversification in political preferences.
73.32% of voters voted for the Republican party in the 2020 Presidential Election
25.83% of voters voted for the Democrat party in the 2020 Presidential Election
0.59% of voters voted for the Livertarian party in the 2020 Presidential Election
0.26% of voters voted for the Other party in the 2020 Presidential Election
School Data
Lyon County, Kentucky has experienced a significant rise in its student-to-teacher ratio, climbing from around 16 students per teacher in 2014 to just over 18 in 2023. This ratio surpasses the national average of 14 students per teacher, hinting at larger class sizes and increased demands on teachers. Such trends may be pertinent for interested investors, developers, appraisers, insurance agents, and real estate professionals considering the educational environment in the... Read more
Student-to-teacher ratio in Lyon County, Kentucky over the last 10 years
Lyon County, Kentucky has seen a notable increase in its student-to-teacher ratio over the past decade, rising from approximately 16 students per teacher in 2014 to just over 18 in 2023. This figure consistently exceeds the current national average of 14 students per teacher, potentially indicating larger class sizes and greater demands on educators in the area. These dynamics may be crucial for prospective investors or developers considering the area, as well as for those moving to Lyon County, appraisers, insurance agents, and real estate professionals who should be aware of this trending educational context.
