Madison County Real Estate and Livability Trends
Madison County, Kentucky, has experienced a noteworthy rise in median home values, reaching $200,600 in 2022, surpassing both the state and national averages. Real estate taxes have increased by 80% over the past decade, likely correlating with higher property values and investments in local infrastructure. Interestingly, investment in sustainable home improvements peaked, indicating growing... Read more
Madison County Market Trends
Madison County’s median home values have risen significantly, hitting $200,600 in 2022, outpacing Kentucky’s $177,000 median and the national average of $179,400. Residential energy tax credits spiked in 2018 to $2,875.00, hinting at increasing investments in sustainability, which might inflate property values and attract eco-conscious buyers. Real estate taxes have grown 80% in a decade to... Read more
Median Value of Occupied Housing Units in Madison County, Kentucky Over the Last 8 Years
Madison County's median home values have seen a steady rise over the last eight years, culminating in a significant jump to $200,600 in 2022. When compared to statewide trends in Kentucky and the national average, Madison County’s growth rate appears quite robust, especially given Kentucky’s median home value was $177,000 in 2022, and the national median was $179,400. This pattern indicates a strong local market, making Madison County a potentially attractive area for investors and homebuyers looking for market stability and growth.
Residential Energy Tax Credit Per Tax Return in Madison County, KY Over the Last 9 Years
Madison County, Kentucky, has seen a notable increase in residential energy tax credits per tax return over the last nine years, with a significant spike in 2018 reaching $2875.00. This uptick suggests growing investments in energy-efficient upgrades and renewable energy installations. For anyone interested in real estate, such trends could indicate a community increasingly focused on sustainability, which might increase property values and attract eco-conscious buyers. Financial planners, appraisers, and insurance agents may find this data useful for forecasting market trends and advising clients accordingly.
Average Real Estate Taxes Per Tax Return in Madison County, KY Over the Last 10 Years
Madison County, Kentucky has seen a notable increase in average real estate taxes per tax return over the last decade. Starting at approximately $1,882.36 in 2012, taxes have steadily increased each year, peaking at around $3,387.50 in 2021. This 80% rise over ten years could suggest a growing investment in local infrastructure or rising property values, which may attract potential investors and real estate agents. However, for prospective homeowners, rising taxes could impact affordability and insurance premiums, making it crucial for appraisers and insurance agents to stay updated on these trends.
Percentage of Farm Returns in Madison County, KY Over the Last 10 Years
Over the past decade, Madison County, Kentucky has seen a gradual decline in the percentage of farm tax returns, dropping from approximately 3.98% in 2012 to around 2.99% in 2021. This trend might suggest that fewer residents rely primarily on farming for their income, potentially because of shifts towards other industries or changes in the agricultural economy. For investors, builders, or potential new residents, this could indicate a diversification of the local economy and a move away from traditional farming activities.
Number of Mortgages by Occupancy Type in Madison County, KY Over the Last 5 Years in Madison County
In Madison County, Kentucky, the data over the past five years show a noticeable variation in the number of mortgages for different occupancy types. Principal residences consistently dominate the mortgage counts, with fluctuations peaking in 2021 at 6,256 but dipping significantly by 2022. Investment properties have a gradual upwards trend, with 349 mortgages in 2022, likely reflecting increasing interest in property investments. Mortgages for second residences remain relatively low but stable. These trends could influence investment decisions, as shifts in occupancy types can signal changing market demands, property value forecasts, and potential risks for insurers. Understanding these patterns can better equip real estate professionals, investors, and residents to make informed decisions about Madison County's housing market.
Economic Outlook
Madison County, Kentucky, has seen a steady rise in average taxable income, starting at around $48,701.67 in 2013 and reaching approximately $62,851.74 by 2021, suggesting a growing local economy. Alongside this, average state and local income taxes per tax return have increased significantly, from $6,368.66 in 2012 to $10,136.63 in 2021, which may indicate enhanced public services and infrastructure development. However, there's been a fluctuating yet generally upward trend in total tax... Read more
Average Taxable Income per Tax Return in Madison County, KY over the last 9 years
Madison County, Kentucky, has shown a notable uptick in average taxable income per tax return over the past nine years, starting at around $48,701.67 in 2013 and climbing to approximately $62,851.74 by 2021. This rise could imply a strengthening local economy and potentially favorable conditions for investments and property development. This trend may attract real estate agents, investors, and new residents seeking opportunities in a growing area. Additionally, appraisers and insurance agents might find the data indicative of increasing property values and more robust market conditions.
Average State and Local Income Taxes Per Tax Return in Madison County, KY Over the Last 10 Years
Over the past decade, Madison County, Kentucky, has seen a steady increase in average state and local income taxes per tax return, rising from $6,368.66 in 2012 to $10,136.63 in 2021. This significant growth, particularly a sharp jump in 2018, signals an expanding local economy likely marked by higher incomes. For potential investors, residents, and developers, this trend could imply improved public services and infrastructure, albeit with a higher tax burden.
Average Total Tax Liability Per Tax Return in Madison County, KY Over the Last 10 Years
The average total tax liability per tax return in Madison County, Kentucky has experienced a fluctuating yet generally upward trend over the last decade. Starting at $6,652.68 in 2012, it rose to $8,833.04 by 2021, despite some dips in intermediate years such as 2018. For prospective investors, this might imply a growing local economy with increasing incomes, though the variance suggests potential volatility. For those considering moving or building property, keeping an eye on these trends could provide insights into the broader financial landscape.
Cost of Living in Madison County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,055 | $1,375 | $1,752 | $1,362 | $1,201 |
| 1 adult 4 children | $1,055 | $1,123 | $1,339 | $1,362 | $1,279 |
| 2 adults 3 children | $1,055 | $1,124 | $1,520 | $1,362 | $987 |
| 1 adult 3 children | $1,055 | $917 | $1,108 | $1,362 | $1,047 |
| 2 adults 2 children | $783 | $920 | $1,288 | $1,204 | $866 |
| 1 adult 2 children | $783 | $687 | $876 | $1,204 | $773 |
| 2 adults 1 child | $783 | $727 | $1,057 | $692 | $790 |
| 1 adult 1 child | $783 | $470 | $644 | $692 | $665 |
| 2 adults | $650 | $584 | $825 | $0 | $644 |
| 1 adult | $641 | $319 | $412 | $0 | $552 |
Safety trends & Data
Madison County, Kentucky has seen fluctuating property crime rates in the past five years. While arson cases are relatively low, burglary and larceny-theft incidents have significantly declined, dropping from 439.0 cases in 2018 to 224.0 by 2021. Fraud and motor vehicle theft, however, display more variability without a consistent trend. These crime trends can be crucial for investors and insurance agents assessing risk, influencing property valuations and buyer... Read more
Property Crime Trends in Madison County, KY Over the Last 5 Years
Madison County, Kentucky has seen notable fluctuations in property crime rates over the past five years. While arson cases remain relatively low, the frequency of burglary and larceny-theft incidents has had a significant decline, especially notable in the reduction from 439.0 cases in 2018 to 224.0 cases by 2021. On the other hand, fraud and motor vehicle theft exhibit more variability, showing no consistent trend but rather a series of peaks and troughs. These changes could be pivotal for investors and insurance agents assessing risk, and they also signal potential areas for targeted community policing efforts. For those in the real estate market, understanding these crime trends is crucial for property valuation and buyer interest.
Demographics
Madison County, Kentucky, reveals more females than males in its adult demographic. The area's educational attainment shows a strong trend of residents holding at least a high school diploma, with a notable number achieving bachelor's and graduate degrees, suggesting a fairly educated populace. The age distribution highlights a significant concentration of young adults and middle-aged residents, making it a dynamic community. The racial composition is predominantly White, with small... Read more
Race Distribution in Madison County, Kentucky (2022)
Educational Attainment in Madison County, Kentucky (2022)
Age Distribution in Madison County, Kentucky
Citizen Population in Madison County, Kentucky (2022)
Political Trends & Data
Madison County, Kentucky, shows a robust Republican base, with around 62% of the 2020 presidential votes swaying their way. Democrats, while significant, lagged behind at roughly 35%. Libertarians and minor parties barely made a dent, each scraping under 2%. This voter pattern reflects a likely conservative influence in local governance and community... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Madison County, Kentucky, the 2020 U.S. Presidential Election data suggests a significant lean towards the Republican party, securing around 62% of the vote. The Democratic party trailed with approximately 35%, while Libertarians captured a modest 1.7%. Other parties collectively garnered less than 1% of the vote, indicating minimal impact from minor parties in this election cycle. This distribution highlights a strong GOP presence within the county.
62.30% of voters voted for the Republican party in the 2020 Presidential Election
35.49% of voters voted for the Democrat party in the 2020 Presidential Election
1.65% of voters voted for the Livertarian party in the 2020 Presidential Election
0.56% of voters voted for the Other party in the 2020 Presidential Election
School Data
Madison County, Kentucky saw a significant shift in student-to-teacher ratios over the past decade. Ratios were stable from 2014 to 2017 but spiked dramatically in 2018 to over 50 students per teacher, possibly indicating temporary circumstances or errors. More recently, the ratio dropped to 12 students per teacher in 2023, potentially boosting community appeal with improved educational... Read more
Student-to-teacher ratio in Madison County, Kentucky over the last 10 years
Madison County, Kentucky experienced significant fluctuations in student-to-teacher ratios over the past decade. Ratios were relatively stable from 2014 to 2017, slightly above the national average of 14 students per teacher. However, a dramatic spike occurred in 2018 with a ratio exceeding 50, persisting through 2020, which may reflect unique, temporary circumstances or errors in data. More recently, the ratio dropped below the national average, reaching 12 students per teacher in 2023. These variations are crucial for potential investors, real estate agents, and families, as lower ratios typically suggest more individualized attention in classrooms, potentially enhancing educational outcomes and community appeal.
