Martin County Real Estate and Livability Trends
Martin County, Kentucky's real estate market is slowly improving, with the average taxable income peaking at $44,238.70 in 2021. Median home values, although lower than state and national medians, have risen from $65,500 in 2017 to $91,800 in 2022. Taxes have fluctuated, with average state and local income taxes rising from $5,771.05 in 2012 to $7,450.00 in 2021 and real estate taxes peaking at... Read more
Martin County Market Trends
In Martin County, Kentucky, median home values have seen modest fluctuation, ranging from $65,500 in 2017 to a peak of $91,800 in 2022, significantly below Kentucky's median of $177,000 and the national median of $179,400. The county has witnessed varied residential energy tax credits, from a stable $300.00 between 2013 and 2015 to a spike at $400.00 in 2021. Real estate taxes also varied, rising... Read more
Median Value of Occupied Housing Units in Martin County, Kentucky Over the Last 8 Years
Martin County, Kentucky has seen some fluctuation in median home values over the past eight years, with values ranging between $65,500 in 2017 and peaking at $91,800 in 2022. Despite this variance, the county's growth appears modest compared to the state and national trends. Kentucky's median home value in 2022 was $177,000, while the national figure stood at $179,400. This significant difference suggests a potential opportunity for more affordable housing investments in Martin County relative to broader markets.
Residential Energy Tax Credit Per Tax Return in Martin County, KY Over the Last 6 Years
Martin County, Kentucky has seen notable fluctuations in residential energy tax credits over the past six years. Initially stable at $300.00 from 2013 to 2015, the average credit per tax return saw a decline, dipping to $275.00 in 2016 and further reducing to approximately $233.33 in 2020. Interestingly, 2021 marked an uptick, soaring to $400.00. These shifts might suggest changing energy policies or economic conditions, which are crucial for potential investors, real estate professionals, and insurers to monitor.
Average Real Estate Taxes Per Tax Return in Martin County, KY Over the Last 9 Years
In Martin County, Kentucky, the average real estate taxes per tax return have shown substantial fluctuation over the past nine years. From $1,090.91 in 2012, there has been a noticeable rise to $2,600.00 in 2018, before dipping again to $1,300.00 by 2020. These variations could suggest shifting property values, changes in local tax policies, or economic conditions affecting the area. Anyone interested in property investment or relocation to Martin County should be mindful of these potential fluctuations for future financial planning.
Percentage of Farm Returns in Martin County, KY Over the Last 8 Years
Over the last eight years, Martin County, Kentucky has seen a subtle yet noticeable increase in the percentage of farm tax returns, rising from around 0.59% in 2012 to approximately 0.71% in 2021. This uptick suggests a modest growth in farming activities within the county, an interesting trend for potential investors or individuals considering agricultural ventures. Farm tax returns generally indicate the economic health and viability of farming in the area, making it a key metric for gauging the local agricultural industry's stability and growth potential. For anyone eyeing property development, investing, or moving to Martin County, this could hint at a gradually strengthening agricultural sector.
Number of Mortgages by Occupancy Type in Martin County, KY Over the Last 5 Years in Martin County
Martin County, Kentucky has seen notable fluctuations in mortgage counts categorized by occupancy type over the past five years, with a distinct rise in principal residence mortgages from 140 in 2019 to a peak of 233 in 2021, before a slight decrease to 225 in 2022. Investment property mortgages have remained relatively stable but low, mostly hovering around 2-4 per year. Second residence mortgages show consistency as well, typically ranging from 2-4 annually. These shifts in occupancy types offer significant insights; for instance, increasing principal residence mortgages may suggest rising permanent relocation interest, which in turn could impact local housing demands, property valuations, and even infrastructure needs. Investors might find low investment property mortgage rates indicative of either current market saturation or untapped potential. This context is crucial for astute investment planning, insurance underwriting, and strategic development within the county.
Economic Outlook
Martin County, Kentucky's real estate market trends suggest a gradually improving economy, indicated by the average taxable income per tax return peaking at $44,238.70 in 2021. Despite some fluctuations, there's a general upward trend since 2013. Investors and potential residents should be aware of the rising average state and local income taxes, which climbed from $5,771.05 in 2012 to $7,450.00 in 2021. This rise could imply better public services or infrastructural developments. The total tax... Read more
Average Taxable Income per Tax Return in Martin County, KY over the last 9 years
Martin County, Kentucky's average taxable income per tax return from 2013 to 2021 has revealed some fluctuations, but a general upward trend can be observed. The income peaked at $44,238.70 in 2021 after a notable drop in 2016 reaching $35,692.79. Real estate agents and potential investors might find these trends indicative of a gradually improving economy. Moreover, insurance agents and appraisers might use this data to adjust valuations or risk assessments accordingly. Overall, the trends in taxable income are crucial for anyone considering financial and real estate decisions in Martin County.
Average State and Local Income Taxes Per Tax Return in Martin County, KY Over the Last 10 Years
Investors and potential residents eyeing Martin County, Kentucky should note a gradual increase in average state and local income taxes per tax return over the last decade. From $5,771.05 in 2012 to a notable hike reaching $7,450.00 in 2021, there has been a general upward trend with some fluctuations. This escalation may imply a growing fiscal burden, but it could also hint at better public services and infrastructural developments. As economic conditions shift, staying informed on local tax trends becomes crucial for making savvier financial and lifestyle decisions.
Average Total Tax Liability Per Tax Return in Martin County, KY Over the Last 10 Years
Martin County, Kentucky has seen some fluctuations in average total tax liability per tax return over the past decade, with values ranging from a low of $5,291.53 in 2020 to a high of $5,987.56 in 2021. Despite a few ups and downs, there's a general trend of slight decreases from $5,600.90 in 2012 to $5,505.53 in 2016, followed by a more noticeable drop in 2018 to $5,326.52. The most recent surge in 2021 suggests a potential increase in economic activity or tax rate changes. This variable tax liability can impact those looking to invest or move to Martin County, making it vital to stay informed on tax trends to optimize financial planning.
Cost of Living in Martin County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $992 | $1,287 | $1,722 | $1,041 | $1,034 |
| 1 adult 4 children | $992 | $1,051 | $1,317 | $1,041 | $1,069 |
| 2 adults 3 children | $992 | $1,051 | $1,495 | $1,041 | $843 |
| 1 adult 3 children | $992 | $858 | $1,089 | $1,041 | $842 |
| 2 adults 2 children | $815 | $861 | $1,267 | $903 | $765 |
| 1 adult 2 children | $815 | $643 | $861 | $903 | $669 |
| 2 adults 1 child | $815 | $680 | $1,039 | $455 | $724 |
| 1 adult 1 child | $815 | $439 | $633 | $455 | $602 |
| 2 adults | $619 | $546 | $811 | $0 | $617 |
| 1 adult | $591 | $298 | $406 | $0 | $523 |
Safety trends & Data
Property crime trends in Martin County, Kentucky have fluctuated over the past five years. Burglaries peaked in 2018 with six incidents but decreased to two by 2022. Larceny-theft spiked in 2020 with ten cases before dropping to two by 2022. Stolen property crimes remained steady from 2019 to 2021, averaging four cases annually. Investors, real estate agents, and potential residents might find these insights useful for making informed property-related... Read more
Property Crime Trends in Martin County, KY Over the Last 5 Years
Martin County, Kentucky has seen varied property crime trends over the last five years, with notable fluctuations in categories like burglary, larceny-theft, and stolen property crimes. Burglary rates peaked in 2018 with six incidents but then showed a decrease, with only two reported in 2022. Larceny-theft spiked in 2020 with ten cases but dropped to just two by 2022. Crimes related to stolen property saw consistent figures from 2019 to 2021, hovering around four cases annually. Investors, real estate agents, and potential residents might find these crime trends useful for making informed decisions regarding property-related matters in Martin County.
Demographics
Martin County, Kentucky shows a slight gender imbalance with more males than females. The educational attainment data suggests a community where high school graduation is a common milestone, yet fewer residents move on to attain higher education degrees. The age distribution points to a relatively young population, but there’s a notable presence of individuals aged 25 to 64. The racial composition is predominantly White, with very small percentages of other races, indicating limited racial... Read more
Race Distribution in Martin County, Kentucky (2022)
Educational Attainment in Martin County, Kentucky (2022)
Age Distribution in Martin County, Kentucky
Citizen Population in Martin County, Kentucky (2022)
Political Trends & Data
Martin County, Kentucky, leans heavily conservative, as seen in the 2020 U.S. Presidential Election, where nearly 89% of votes were for Republican candidates. Democratic backing was notably lower at around 10%, with Libertarian and minor parties each getting less than 1%. This suggests that any real estate investments or developments in this area may do well to consider the strong conservative culture and... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Martin County, Kentucky, showed a strong preference for Republican candidates in the 2020 U.S. Presidential Election, with nearly 89% of votes cast in their favor. Democratic support was significantly lower, around 10%, while Libertarian and other minor parties each garnered less than 1% of the vote. This suggests a heavily conservative leaning in the county's political landscape.
88.96% of voters voted for the Republican party in the 2020 Presidential Election
10.25% of voters voted for the Democrat party in the 2020 Presidential Election
0.43% of voters voted for the Livertarian party in the 2020 Presidential Election
0.36% of voters voted for the Other party in the 2020 Presidential Election
School Data
The student-to-teacher ratio in Martin County, Kentucky, has seen significant swings over the past decade, ranging from 10 students per teacher in 2014 and 2018 to around 20 students per teacher in 2021. These fluctuations could indicate varying levels of resource allocation and educational stability, aspects that may influence property values and neighborhood desirability. For investors or potential movers, these trends might be worth considering, as better educational metrics often correlate... Read more
Student-to-teacher ratio in Martin County, Kentucky over the last 10 years
The student-to-teacher ratio in Martin County, Kentucky, has fluctuated significantly over the past decade, with variations from as low as 10 students per teacher in years like 2014 and 2018, to highs around 20 students per teacher in 2021. These shifts could impact the quality of education, as a lower student-to-teacher ratio might provide more individualized attention compared to the national average of 14 students per teacher. For investors or those contemplating a move, these trends may indicate the county's educational stability and resource allocation over time. Real estate agents and appraisers might see a correlation between these ratios and property values, as better educational metrics often enhance neighborhood desirability. Similarly, insurance agents might find this data useful when assessing community risk factors associated with educational quality.
