Menifee County Real Estate and Livability Trends
Menifee County, Kentucky’s median home values have risen from $78,100 in 2015 to $104,600 in 2022, presenting a possible investment opportunity given their lower entry cost compared to state and national averages. Real estate taxes have surged from $904.17 in 2012 to $2,050.00 in 2021, possibly due to property value appreciation or revised tax rates. Shifts in mortgage types, especially the... Read more
Menifee County Market Trends
Menifee County, Kentucky’s median home values have seen a climb from $78,100 in 2015 to $104,600 in 2022, though they still trail behind state and national averages, possibly offering an enticing opportunity for investors seeking growth potential with lower initial costs. Average residential energy tax credits have dwindled from $280.00 in 2013 to $225.00 in 2016, perhaps reflecting shifting... Read more
Median Value of Occupied Housing Units in Menifee County, Kentucky Over the Last 8 Years
Menifee County, Kentucky, has experienced a considerable uptick in median home values over the past eight years, peaking at $104,600 in 2022 after a steady incline from $78,100 in 2015. This growth, although impressive for the county, still lags behind the state averages, where median home values increased to $177,000 in 2022. At a national level, Menifee County’s home values remain significantly lower, with U.S. median home values jumping to $179,400 in 2022. This disparity suggests potential investment opportunities for those looking to enter a market with growth potential while benefiting from lower initial costs compared to broader state and national trends.
Residential Energy Tax Credit Per Tax Return in Menifee County, KY Over the Last 4 Years
Over the past four years, Menifee County, Kentucky has seen some fluctuation in the average residential energy tax credit claimed per tax return. In 2013, the average was $280.00, which slightly decreased to $240.00 in 2014, saw a minor uptick to $250.00 in 2015, and then dropped again to $225.00 by 2016. This downward trend could suggest varying investment in energy-efficient home improvements, possibly reflecting broader economic conditions or changing resident priorities.
Average Real Estate Taxes Per Tax Return in Menifee County, KY Over the Last 10 Years
Menifee County, Kentucky, has shown a notable upward trend in average real estate taxes per tax return over the past decade. Starting from $904.17 in 2012, taxes experienced a consistent increase, reaching $2,050.00 in 2021. This steady rise, particularly the sharp jumps in 2020 and 2021, might indicate increased property values or changes in tax rates. Such trends could significantly impact decisions for prospective investors and property buyers, as they suggest a potentially appreciating real estate market but also higher carrying costs for property owners. Real estate agents, insurance agents, and appraisers should consider these changes when advising clients or assessing property values in the area.
Percentage of Farm Returns in Menifee County, KY Over the Last 10 Years
Menifee County, Kentucky, has seen slight fluctuations in the percentage of farm tax returns over the past decade, generally maintaining a range between 12.72% and 15.86%. Farm tax returns, which represent the income tax filings of agricultural producers, indicate economic engagement in farming activities. This consistency suggests a stable farming community, providing potential investors and new residents a reliable agricultural presence. The recent dip to around 12.72% from a high of 15.86% might hint at changes in the local agricultural economy, but overall, the data presents a long-term steadiness.
Number of Mortgages by Occupancy Type in Menifee County, KY Over the Last 5 Years in Menifee County
Menifee County, Kentucky has seen significant shifts in mortgage types over the past five years, with the number of mortgages for principal residences consistently dominating the market, peaking at 295 in 2021. Meanwhile, investment properties have seen relatively stable but lower figures, fluctuating between 11 and 19. The mortgage count for second residences has also varied, with 2021 seeing a notable increase to 45. Changes in occupancy type reflect broader market dynamics; for instance, growth in principal residence mortgages may signal a rise in permanent relocations or first-time home buyers, affecting local infrastructure needs and community services. Investors and appraisers could view stability in investment property figures as a potential indicator of consistent rental demand. The varying trends in second residences might highlight seasonal or lifestyle-driven market segments, influencing everything from real estate strategies to insurance risk assessments.
Economic Outlook
Menifee County, Kentucky has experienced a consistent climb in average taxable income per tax return, growing from $33,355.80 in 2013 to $41,433.74 in 2021, hinting at economic stability and investment potential. State and local income taxes have shown notable fluctuations, peaking at $7,850.00 in 2020, suggesting a complex tax environment that could affect financial planning. Additionally, the average total tax liability per tax return increased from $3,422.60 in 2012 to $4,469.23 in 2021,... Read more
Average Taxable Income per Tax Return in Menifee County, KY over the last 9 years
Over the past nine years, Menifee County, Kentucky has seen a generally upward trajectory in average taxable income per tax return, climbing from $33,355.80 in 2013 to $41,433.74 in 2021. There were minor fluctuations, particularly a noticeable increase between 2016 and 2017. This trend may suggest growing economic stability and potential for investment in the area. For individuals interested in moving to or investing in Menifee County, this gradual rise in income might indicate a strengthening local economy, albeit slowly. Real estate professionals and insurance agents may find this economic insight valuable when assessing property values and risks.
Average State and Local Income Taxes Per Tax Return in Menifee County, KY Over the Last 10 Years
Menifee County, Kentucky has seen significant fluctuations in state and local income taxes per tax return over the past decade. Although there is a general upward trend from $3,946.43 in 2012 to a peak of $7,850.00 in 2020, the figures reveal notable variability year over year. For investors and potential residents, this trend suggests a complex economic landscape where tax burdens may vary significantly, impacting financial planning and investment decisions.
Average Total Tax Liability Per Tax Return in Menifee County, KY Over the Last 10 Years
Over the past decade, Menifee County, Kentucky has seen its average total tax liability per tax return increase from $3,422.60 in 2012 to $4,469.23 in 2021. Notable upward trends, particularly since 2016, might suggest a growing economy or rising incomes in the area, making it an interesting point for potential investors or those considering relocating. The significant jump in 2021 could indicate new economic activities or policies affecting the local financial landscape, meriting further exploration for anyone vested in the county’s fiscal health.
Cost of Living in Menifee County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $991 | $1,279 | $1,612 | $1,113 | $1,043 |
| 1 adult 4 children | $991 | $1,044 | $1,231 | $1,113 | $1,091 |
| 2 adults 3 children | $991 | $1,045 | $1,399 | $1,113 | $855 |
| 1 adult 3 children | $991 | $853 | $1,019 | $1,113 | $870 |
| 2 adults 2 children | $742 | $855 | $1,187 | $967 | $753 |
| 1 adult 2 children | $742 | $639 | $806 | $967 | $665 |
| 2 adults 1 child | $742 | $676 | $974 | $493 | $711 |
| 1 adult 1 child | $742 | $437 | $593 | $493 | $598 |
| 2 adults | $577 | $543 | $761 | $0 | $611 |
| 1 adult | $538 | $296 | $381 | $0 | $521 |
Safety trends & Data
Menifee County, Kentucky has experienced a relatively low incidence of property crimes over the past five years, creating a stable environment for potential residents and investors. Burglary incidents peaked in 2020 with just three occurrences, while larceny-theft saw a slight uptick in 2022. Vandalism and stolen property cases have remained minimal, enhancing the area's safety profile. These crime trends may positively influence property values, investment decisions, and insurance... Read more
Property Crime Trends in Menifee County, KY Over the Last 5 Years
Property crime trends in Menifee County, Kentucky show a relatively low occurrence over the past five years, suggesting a stable environment for investors and potential residents. Notably, burglary incidents peaked in 2020 with 3 occurrences, while larceny-theft saw a slight rise in 2022 compared to previous years. Vandalism and stolen property cases maintained a low profile, reinforcing the perception of safety in the area. These trends could influence property values, investment decisions, and insurance rates favorably.
Demographics
Menifee County, Kentucky, shows a relatively balanced gender distribution among adults, with males slightly outnumbering females. Educational attainment data suggests a significant portion of the population are high school graduates, but fewer individuals attain higher education degrees like a bachelor's or graduate degree. This could hint at localized economic factors influencing education upward mobility. The age distribution reveals a somewhat aging population, as the 55 to 64-year age... Read more
Race Distribution in Menifee County, Kentucky (2022)
Educational Attainment in Menifee County, Kentucky (2022)
Age Distribution in Menifee County, Kentucky
Citizen Population in Menifee County, Kentucky (2022)
Political Trends & Data
Menifee County, Kentucky, showed a strong preference for Republican candidates in the 2020 U.S. Presidential Election, with Republican votes possibly comprising around 75% of the total. Democrat support appeared to lag significantly at about 24%, while third-party votes, including Libertarian candidates, seemed to collect less than 2%, indicating minimal influence on the overall... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Menifee County, Kentucky, saw a dominant lean towards Republican candidates in the 2020 U.S. Presidential Election, possibly reflecting broader regional trends. Republican votes potentially made up around 75% of the total, significantly overshadowing Democrat support, which hovered around 24%. Third parties like the Libertarian and others combined seemed to garner less than 2% of the vote, suggesting minimal impact on the election outcome.
74.50% of voters voted for the Republican party in the 2020 Presidential Election
24.18% of voters voted for the Democrat party in the 2020 Presidential Election
0.77% of voters voted for the Livertarian party in the 2020 Presidential Election
0.55% of voters voted for the Other party in the 2020 Presidential Election
School Data
Menifee County, Kentucky, has seen its student-to-teacher ratio drop from a peak of nearly 16 in 2017 to around 12 in 2023. This notable shift could indicate better education quality, potentially attracting families, investors, and real estate agents who value strong community services. Appraisers and insurance agents might see this trend as a marker for stability and growth in the... Read more
Student-to-teacher ratio in Menifee County, Kentucky over the last 10 years
Menifee County, Kentucky, has experienced a notable shift in its student-to-teacher ratio over the past decade. Initially higher than the national average of 14 students per teacher, the ratio peaked at nearly 16 students in 2017. However, recent years have shown a significant decrease, dropping to around 12 students per teacher in 2023. These changes could suggest improvements in education quality with more individualized attention for students, which may appeal to families considering a move, investors looking at long-term area growth, or real estate agents highlighting local educational improvements. Additionally, appraisers and insurance agents might interpret these trends as indicators of stability and growth in community services.
