Marion County Real Estate and Livability Trends
Marion County, Kentucky, has seen a steady increase in average taxable income, rising from $40,788.07 in 2013 to $53,490.11 in 2021, which may drive demand for higher-value properties. Real estate taxes have also risen, hinting at either climbing property values or adjustments in tax rates. Over the past eight years, the median home value rose sharply from $98,200 to $141,000, a notable trend... Read more
Marion County Market Trends
Over the past eight years, the median home value in Marion County, Kentucky has risen from $98,200 to $141,000, outpacing the state's increase, though still below national averages. Residential energy tax credits fluctuated, peaking at $666.67 in 2020, possibly due to policy changes or increased energy-efficient upgrades. Real estate taxes also saw a marked increase, suggesting rising property... Read more
Median Value of Occupied Housing Units in Marion County, Kentucky Over the Last 8 Years
Over the past eight years, the median home value in Marion County, Kentucky has experienced a steady climb from $98,200 in 2015 to $141,000 in 2022. This local growth, outpacing the overall state of Kentucky's increase from $123,200 to $177,000 during the same period, might suggest Marion County is becoming a more desirable area within the state. When viewed against national trends, where median values rose from $125,500 to $179,400, Marion County's home values remain comparatively lower, which could appeal to investors and homebuyers looking for more affordable options with growth potential. This persistent upward trajectory indicates a healthy real estate market and could influence decisions for those looking to invest, move, or build in the region.
Residential Energy Tax Credit Per Tax Return in Marion County, KY Over the Last 8 Years
Over the past eight years in Marion County, Kentucky, the average residential energy tax credit per tax return has displayed fluctuating trends. For instance, notable peaks occurred in 2016 at $435.71 and in 2020 at $666.67, while the lowest credit was recorded in 2015 at $286.67. This variability may suggest changes in policy incentives or shifts in residents' investment in energy-efficient upgrades. Such trends could be significant for appraisers, insurance agents, and real estate agents as they assess property value and desirability. Those looking to invest or move here might consider how energy efficiency investments impact both short-term tax benefits and long-term property savings.
Average Real Estate Taxes Per Tax Return in Marion County, KY Over the Last 10 Years
Over the past decade, Marion County, Kentucky, has seen a generally upward trend in average real estate taxes per tax return. Starting from approximately $1266.18 in 2012, there’s been an evident increase peaking notably at $2460.00 in 2021. A significant jump occurred around 2018, where taxes rose sharply to $2235.00, holding relatively steady with further slight increases. This escalation in real estate taxes could imply rising property values or adjustments in tax rates, potentially affecting decisions for investors, homebuyers, builders, and real estate professionals. Prospective movers and current residents might want to consider these financial trends for budgeting and future financial planning.
Percentage of Farm Returns in Marion County, KY Over the Last 10 Years
Over the last decade, the percentage of farm tax returns in Marion County, Kentucky has shown a slight, yet notable downward trend. Starting in 2012 at around 13.02%, it sees a slight increase in 2013 to approximately 13.14%, but gradually declines to a low near 10.73% by 2020, with a minor uptick to about 10.96% in 2021. This trend may suggest selected factors such as an aging farming population, migration of younger demographics to urban areas, or changes in local agricultural policies. These shifts could impact investment opportunities and property values in the county, as they reflect broader trends in the agricultural sector.
Number of Mortgages by Occupancy Type in Marion County, KY Over the Last 5 Years in Marion County
Over the last five years in Marion County, Kentucky, there's been a noticeable decline in the number of mortgages for principal residences, starting from 614 in 2018 and dropping to 585 in 2022. Meanwhile, investment properties and second residences have seen relatively low and fluctuating activity, with investment property mortgages peaking at 21 in 2020 but falling to 13 by 2022, and second residences peaking at 18 in 2020 and dropping significantly. These shifts in occupancy types matter because they may indicate changing buyer preferences or economic conditions, insights crucial for investors, appraisers, insurance agents, builders, and real estate agents to strategize effectively. Understanding these trends can help stakeholders anticipate market demands, assess property values accurately, and manage risk more efficiently.
Economic Outlook
Marion County, Kentucky has seen a gradual rise in the average taxable income per tax return, from $40,788.07 in 2013 to $53,490.11 in 2021. This trend hints at an improving economic environment that could attract investors and property developers, suggesting increased demand for higher-value properties. Additionally, average state and local income taxes per tax return have climbed notably, jumping from $5,586.03 in 2012 to $9,064.29 in 2021, with significant increases between 2017 and 2018.... Read more
Average Taxable Income per Tax Return in Marion County, KY over the last 9 years
Over the past nine years, Marion County, Kentucky has shown a consistent, albeit gradual, increase in average taxable income per tax return, growing from $40,788.07 in 2013 to $53,490.11 in 2021. This upward trend might suggest an improving economic environment, which could be attractive to potential investors, property developers, and real estate agents. With higher average incomes, there could also be implications for insurance underwriting and appraisal values, indicating a community with growing purchasing power and possibly increased demand for higher-value properties.
Average State and Local Income Taxes Per Tax Return in Marion County, KY Over the Last 10 Years
Over the past decade, Marion County, Kentucky has seen a notable rise in average state and local income taxes per tax return. Taxes grew from approximately $5,586.03 in 2012 to around $9,064.29 in 2021. Especially significant jumps occurred between 2017 and 2018, with an increase from $6,704.73 to $8,981.82, suggesting potential policy changes or economic factors impacting tax rates. Investors and residents will want to dig into what these changes mean for financial planning and cost of living.
Average Total Tax Liability Per Tax Return in Marion County, KY Over the Last 10 Years
Average tax liabilities in Marion County, Kentucky have shown a noticeable rise over the past decade, starting from around $4,903.08 in 2012 and climbing to approximately $6,653.90 by 2021. This upward trend suggests increasing financial burdens for residents, reflecting possibly a growing economy or changes in tax policies. For potential investors or those considering relocation, this can be indicative of evolving fiscal landscapes and community investments.
Cost of Living in Marion County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $965 | $1,223 | $1,714 | $1,012 | $976 |
| 1 adult 4 children | $965 | $998 | $1,310 | $1,012 | $1,003 |
| 2 adults 3 children | $965 | $999 | $1,488 | $1,012 | $802 |
| 1 adult 3 children | $965 | $815 | $1,084 | $1,012 | $793 |
| 2 adults 2 children | $793 | $818 | $1,261 | $878 | $732 |
| 1 adult 2 children | $793 | $611 | $857 | $878 | $637 |
| 2 adults 1 child | $793 | $646 | $1,034 | $442 | $702 |
| 1 adult 1 child | $793 | $417 | $630 | $442 | $589 |
| 2 adults | $602 | $519 | $808 | $0 | $608 |
| 1 adult | $598 | $283 | $404 | $0 | $533 |
Safety trends & Data
Property crime trends in Marion County, Kentucky, have shown significant fluctuations over the last five years. Burglary rates, for instance, peaked at 13.0 incidents in 2019, dropped to just 6.0 in 2021, and then rose again to 11.0 in 2022. Larceny-theft saw a high of 15.0 incidents in 2018, decreased to 3.0 in 2020, and climbed back to 11.0 in 2021. Vandalism incidents fluctuated from a low of 1.0 in 2020 to 7.0 in 2022. Stolen property cases have been fairly steady but peaked at 10.0... Read more
Property Crime Trends in Marion County, KY Over the Last 5 Years
Property crime trends in Marion County, Kentucky, show a varied landscape over the last five years. Notably, burglary rates have fluctuated, peaking at 13.0 incidents in 2019 before dropping to 6.0 in 2021, and rising again to 11.0 in 2022. Larceny-theft also saw significant swings, with a high of 15.0 incidents in 2018 decreasing to a low of 3.0 in 2020, before increasing to 11.0 in 2021. Vandalism incidents were relatively low but varied, reaching 7.0 in 2022 after hitting a low of 1.0 in 2020. Stolen property cases were somewhat consistent but peaked at 10.0 incidents in 2019. These fluctuations suggest a dynamic property crime environment, which could be crucial for potential investors, real estate agents, and insurance professionals assessing risk and property values in the area.
Demographics
Marion County, Kentucky shows a nearly even split between male and female adults, standing at 7,305 and 7,387 respectively. Educational attainment highlights that a significant portion of the population holds a high school diploma or some college education, with fewer advancing to bachelor's or graduate degrees. Age distribution is varied, but there is a noticeable concentration in older age brackets like 55 to 64 years, and a substantial number of young residents under 10 years old. The racial... Read more
Race Distribution in Marion County, Kentucky (2022)
Educational Attainment in Marion County, Kentucky (2022)
Age Distribution in Marion County, Kentucky
Citizen Population in Marion County, Kentucky (2022)
Political Trends & Data
Marion County, Kentucky exhibited a strong Republican preference in the 2020 U.S. Presidential Election, with Democrats securing less than a third of the vote and third-party candidates gaining minimal traction. This political climate might suggest entrenched conservative policies that could impact local real estate developments and priorities, potentially favoring traditional over progressive zoning and housing... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Marion County, Kentucky, the 2020 U.S. Presidential Election saw a strong leaning toward the Republican party, possibly reflecting broader regional trends. Democrats garnered just under a third of the vote, while third-party candidates, including Libertarians, captured only a small fraction. Such a distribution could indicate solid entrenched support for conservative policies, with minimal deviation towards alternative political movements.
68.47% of voters voted for the Republican party in the 2020 Presidential Election
30.49% of voters voted for the Democrat party in the 2020 Presidential Election
0.62% of voters voted for the Livertarian party in the 2020 Presidential Election
0.43% of voters voted for the Other party in the 2020 Presidential Election
School Data
Marion County, Kentucky's student-to-teacher ratio has seen dramatic fluctuations over the past decade, varying from 13 in 2018 to nearly 39 in 2022. With the national average at 14, these swings imply sporadic changes in teacher staffing, student enrollment, or education funding. These trends might reveal potential challenges or opportunities for stakeholders like investors, new residents, appraisers, insurance agents, developers, and real estate... Read more
Student-to-teacher ratio in Marion County, Kentucky over the last 10 years
Marion County, Kentucky has experienced significant fluctuations in its student-to-teacher ratio over the past decade. Starting from a relatively stable range of about 16 students per teacher from 2014 to 2017, the ratio plummeted to around 13 in 2018 before sharply escalating to nearly 25 in 2019 and then surging to over 35 by 2020. While the ratio dropped to 22 in 2021, it spiked again to nearly 39 by 2022 and slightly dipped to 36 in 2023. With the national average being 14 students per teacher, these dramatic variances suggest sporadic changes in teacher hiring, student enrollment, or funding for education in the county. These trends may signify potential challenges or opportunities for stakeholders such as investors, new residents, appraiser, insurance agents, developers, and real estate professionals.
