McLean County Real Estate and Livability Trends
McLean County, Kentucky's housing market has experienced impressive growth, with median home values rising from $91,700 in 2015 to $139,400 in 2022. Despite this growth, the area may still present untapped investment potential due to relative undervaluation. Real estate taxes per return have doubled, reflecting both increasing property values and higher homeownership costs. The market is... Read more
McLean County Market Trends
McLean County, Kentucky's housing market has seen median home values surge from $91,700 in 2015 to $139,400 in 2022, suggesting a catch-up with broader state and national trends. This hints at untapped investment potential due to its relative undervaluation. Notably, residential energy tax credits peaked in 2019 at $2366.67, indicating a brief but intense interest in energy-efficient upgrades.... Read more
Median Value of Occupied Housing Units in McLean County, Kentucky Over the Last 8 Years
McLean County, Kentucky's housing market experienced significant growth over the past eight years, with median home values rising from $91,700 in 2015 to $139,400 in 2022. This local trend can be seen as catching up to broader state and national trends. Kentucky's median home values increased from $123,200 to $177,000 during the same timeframe, reflecting a similar upward trajectory. Comparatively, the national median values ascended from $125,500 to $179,400. This could suggest potential for investment in McLean County, as its growth rate indicates a potentially undervalued market relative to broader state and national figures.
Residential Energy Tax Credit Per Tax Return in McLean County, KY Over the Last 7 Years
McLean County, Kentucky has seen fluctuating trends in residential energy tax credits over the last seven years. A notable spike occurred in 2019 with an average credit of $2366.67, significantly higher than other years, suggesting increased investments or improvements in energy-efficient home upgrades during that period. More recent years like 2020 and 2021 showed variability, with averages at $675.00 and $1160.00 respectively, hinting at continued, albeit less intense, adoption of energy-efficient measures. These figures may attract potential homeowners and investors interested in energy savings and potentially higher property values.
Average Real Estate Taxes Per Tax Return in McLean County, KY Over the Last 10 Years
Over the past decade, McLean County, Kentucky has seen a noticeable increase in average real estate taxes per tax return, with figures rising from $1,076.06 in 2012 to $2,166.67 in 2021. This steady upward trend suggests a growing valuation of properties and potentially higher costs for homeowners and investors. The significant jumps around 2018 and 2021 could reflect broader market conditions or specific local developments driving up property values. For investors and residents, this trend indicates a possibly appreciating market but also higher annual tax liabilities.
Percentage of Farm Returns in McLean County, KY Over the Last 10 Years
McLean County, Kentucky has seen a gradual decline in the percentage of farm tax returns over the past decade, dropping from 10.26% in 2012 to 8.66% in 2021. Farm tax returns are filings made by agricultural businesses reporting their income and expenses to the IRS, reflecting the financial health and activities of the farming sector. This decreasing trend may indicate a shift in land use or economic conditions affecting local agriculture, which could be a consideration for potential investors or those looking to move to the area. Understanding these trends can help you gauge the economic landscape and opportunities in McLean County.
Number of Mortgages by Occupancy Type in McLean County, KY Over the Last 5 Years in McLean County
In McLean County, Kentucky, mortgage data over the past five years indicates that principal residences consistently dominate the market, with notable spikes, particularly in 2021 where 398 mortgages were issued. Investment properties see a more fluctuating pattern but remain a smaller segment, peaking at 21 mortgages in 2018 and dipping to just 5 in 2021. Second residences are almost negligible, never exceeding 3 mortgages in any year. This trend suggests a strong preference for primary homes, which could point to a stable, resident-focused community. For investors, this could mean limited short-term rental opportunities but a solid market for long-term residential investments. Those in real estate and property development might focus on catering to this demand for principal residences, while appraisers and insurance agents may see more value in offering services tailored to homeowners rather than transient or speculative buyers.
Economic Outlook
McLean County, Kentucky has experienced a steady rise in average taxable income per tax return, climbing from around $46,513.23 in 2013 to roughly $58,246.15 by 2021. This may suggest economic growth, making the area appealing for investors and potential residents. The average state and local income taxes also saw a significant increase, jumping from $5,364.79 in 2012 to $9,066.67 in 2021, particularly marked around 2018. This trend could impact investment decisions and living costs.... Read more
Average Taxable Income per Tax Return in McLean County, KY over the last 9 years
McLean County, Kentucky has witnessed a fairly steady increase in the average taxable income per tax return over the past nine years. In 2013, the average was approximately $46,513.23, rising to roughly $58,246.15 by 2021. This trend may suggest economic growth or increasing prosperity among residents, making it an attractive prospect for investors, real estate agents, or those considering moving to the area. However, the economic benefits to insurers or appraisers could vary significantly based on individual property values and the overall market conditions.
Average State and Local Income Taxes Per Tax Return in McLean County, KY Over the Last 10 Years
In McLean County, Kentucky, the average state and local income taxes per tax return have seen a considerable rise over the last decade. The trend indicates a notable increase from $5,364.79 in 2012 to $9,066.67 in 2021. Particularly interesting is the sharp jump around 2018, possibly signaling economic changes or policy adjustments. This pattern could potentially impact investment plans, living costs, and property prices, making McLean County a significant area to watch for those closely following tax trends and their implications.
Average Total Tax Liability Per Tax Return in McLean County, KY Over the Last 10 Years
McLean County, Kentucky has seen some fluctuation in average total tax liability per tax return over the past decade, ranging from a low of approximately $6,114.23 in 2018 to a recent high of about $7,532.67 in 2021. There's a notable upward trend after 2018, indicating potential economic growth or changes in tax policy. This trend could interest investors, potential residents, and those considering property development as it might reflect an evolving economic environment in the county.
Cost of Living in McLean County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $795 | $1,239 | $1,758 | $1,179 | $1,048 |
| 1 adult 4 children | $795 | $1,012 | $1,343 | $1,179 | $1,117 |
| 2 adults 3 children | $795 | $1,012 | $1,526 | $1,179 | $875 |
| 1 adult 3 children | $795 | $826 | $1,111 | $1,179 | $887 |
| 2 adults 2 children | $602 | $828 | $1,294 | $1,025 | $787 |
| 1 adult 2 children | $602 | $619 | $879 | $1,025 | $697 |
| 2 adults 1 child | $602 | $655 | $1,062 | $525 | $732 |
| 1 adult 1 child | $602 | $423 | $647 | $525 | $589 |
| 2 adults | $457 | $526 | $830 | $0 | $603 |
| 1 adult | $454 | $287 | $415 | $0 | $506 |
Safety trends & Data
Over the past five years, property crime in McLean County, Kentucky has shown fluctuations, with burglary, larceny-theft, and motor vehicle theft generally declining. However, spikes in forgery, counterfeiting, and stolen property possession in specific years paint a complex picture. While traditional property crimes may be on the decline, the presence of embezzlement, vandalism, and fraud remains sporadic but noticeable. This nuanced crime profile is critical for potential investors,... Read more
Property Crime Trends in McLean County, KY Over the Last 5 Years
Over the past five years, McLean County, Kentucky has seen fluctuations in property crime, with burglary, larceny-theft, and motor vehicle theft generally declining. Crimes such as forgery and counterfeiting and stolen property possession spiked in specific years but overall recorded variability. The trends suggest a potential decrease in more traditional property crimes while embezzlement, vandalism, and fraud reports remain sporadic but present. This shifting crime landscape is crucial for prospective investors, residents, and real estate professionals, indicating a nuanced crime profile rather than a broad decrease.
Demographics
The gender distribution in McLean County shows a near-equal split, with a slight female majority. Education levels hint at a community where high school graduation is common, but post-secondary education appears less prevalent. The age distribution leans towards an older demographic, particularly those aged 45 to 64. Racial composition is predominantly White, with very small percentages from other racial groups. These trends might suggest a need for targeted economic and educational initiatives... Read more
Race Distribution in McLean County, Kentucky (2022)
Educational Attainment in McLean County, Kentucky (2022)
Age Distribution in McLean County, Kentucky
Citizen Population in McLean County, Kentucky (2022)
Political Trends & Data
In McLean County, Kentucky, the 2020 U.S. Presidential Election results hint at a solid Republican leaning, with approximately 76% of the vote. Democrats, on the other hand, appear to secure only around 22%, suggesting a notable partisan imbalance. Libertarian and minor parties seem to have marginal impact, collectively drawing just over 1% of the votes. This political landscape could point to a strong conservative presence and potentially limited competition from other political... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In McLean County, Kentucky, the 2020 U.S. Presidential Election results suggest that Republicans potentially dominate the political landscape, capturing around 76% of the vote. Democrats might hold a considerably smaller share at roughly 22%, which could indicate a significant partisan tilt. The Libertarian and other minor parties seem to have minimal influence, together accounting for just over 1% of the votes. This distribution could imply a strong conservative presence and possibly limited competition from other political ideologies in recent elections.
75.97% of voters voted for the Republican party in the 2020 Presidential Election
22.46% of voters voted for the Democrat party in the 2020 Presidential Election
1.17% of voters voted for the Livertarian party in the 2020 Presidential Election
0.40% of voters voted for the Other party in the 2020 Presidential Election
School Data
The student-to-teacher ratio in McLean County, Kentucky experienced shifts, moving from slightly below the national average in 2014 to nearly 16 students per teacher in 2023. These changes could hint at varying funding, teacher availability, or enrollment trends. For real estate stakeholders, this fluctuation might affect school quality perceptions, ultimately impacting property values and... Read more
Student-to-teacher ratio in Mclean County, Kentucky over the last 10 years
The student-to-teacher ratio in Mclean County, Kentucky has displayed some fluctuation over the past decade. Beginning in 2014, the ratio was slightly below the national average of 14 students per teacher, but it increased to 15 in 2019 and recently spiked to almost 16 in 2023. This variability may suggest shifts in funding, teacher availability, or student enrollment numbers, which could influence decisions for potential investors or families considering moving to the area. For real estate agents and appraisers, these changes might reflect on school quality perceptions, potentially impacting property values and marketability.
