Mercer County Real Estate and Livability Trends
Mercer County, Kentucky has seen average taxable income rise significantly from $42,667.95 in 2013 to $58,164.17 in 2021, indicating potential appreciation in property values. Median home values jumped from $133,600 in 2015 to $181,400 in 2022, reflecting strong local demand and investment appeal. Real estate taxes have more than doubled over a decade, likely due to rising property valuations.... Read more
Mercer County Market Trends
Mercer County, Kentucky has experienced a notable rise in median home values, from $133,600 in 2015 to $181,400 in 2022, outpacing the state and national growth. This suggests robust local demand and attractive potential for property appreciation. Energy tax credits in the area have seen significant fluctuations, with high variability from $850.00 to $2,300.00, possibly reflecting changes in... Read more
Median Value of Occupied Housing Units in Mercer County, Kentucky Over the Last 8 Years
Over the past eight years, Mercer County, Kentucky has seen a substantial increase in median home values, growing from $133,600 in 2015 to $181,400 in 2022. This growth outpaces both Kentucky's state average, which rose from $123,200 to $177,000, and the national average, which went from $125,500 to $179,400. Such a trend suggests robust local demand and possibly a higher rate of appreciation, making Mercer County potentially attractive for investors and homebuyers seeking growth in property values.
Residential Energy Tax Credit Per Tax Return in Mercer County, KY Over the Last 9 Years
Over the past nine years in Mercer County, Kentucky, the average residential energy tax credit per tax return has shown notable fluctuations. After a significant increase to $2,300.00 in 2018, the credit varied from $850.00 in 2019 to $1,225.00 in 2021. This variability could imply changing incentives or adoption rates of energy-efficient investments, making it an important factor for investors, property developers, and real estate agents to consider when assessing market trends and property values in the area.
Average Real Estate Taxes Per Tax Return in Mercer County, KY Over the Last 10 Years
Mercer County, Kentucky has seen a steady increase in average real estate taxes per tax return over the past decade, with noticeable jumps in recent years. From $1,777.31 in 2012 to $2,886.11 in 2021, the more significant spikes, particularly between 2017 and 2020, highlight perhaps a rising valuation trend or changes in tax policy. This may signal opportunities or risks for real estate investors, developers, and homeowners considering the area's evolving economic landscape. Real estate agents and insurance personnel will find these shifts critical in assessing property values and premiums.
Percentage of Farm Returns in Mercer County, KY Over the Last 10 Years
Over the past decade, Mercer County, Kentucky has seen a fluctuating but generally declining trend in the percentage of farm tax returns, starting from approximately 10.43% in 2012 to about 8.94% in 2021. Farm tax returns in this context indicate the portion of tax filings dedicated to agricultural income, offering insights into the economic vitality of the farming sector. This decline could suggest shifts in the local economy, potentially impacting decisions for those looking to invest, build, or move to the area, as the agricultural sector seems to be in a slight downturn. It might indicate a growing diversification or possibly broader economic challenges affecting traditional farming activities.
Number of Mortgages by Occupancy Type in Mercer County, KY Over the Last 5 Years in Mercer County
Mercer County, Kentucky has seen fluctuating numbers of mortgages across different occupancy types in the last five years. Principal residences consistently lead in mortgage counts, from a high of 1,517 in 2021 to a low of 874 in 2018. Investment properties have maintained a steady, albeit lower, presence with minor fluctuations around the 50-70 range, while second residences show the least activity, peaking at 53 in 2020 but dropping to 22 by 2022. Changes in occupancy types can signal shifts in the local housing market—such as increasing investment interest or residential stability—which can be crucial for potential investors, developers, and real estate professionals to tailor their strategies. Notably, the drop in second residence mortgages could indicate a dip in demand for vacation homes or investment diversification within the area.
Economic Outlook
Mercer County, Kentucky has seen a steady uptrend in average taxable income, climbing from $42,667.95 in 2013 to $58,164.17 by 2021, hinting at a growing economy and possible appreciation in property values. Over the past decade, state and local income taxes have also notably increased, suggesting either robust economic growth or shifts in tax policies that could affect investment decisions. Additionally, the average total tax liability has risen significantly, indicating higher incomes or... Read more
Average Taxable Income per Tax Return in Mercer County, KY over the last 9 years
Over the past nine years, Mercer County, Kentucky has experienced a steady increase in average taxable income per tax return, suggesting economic growth. In 2013, the average taxable income was approximately $42,667.95, climbing to around $58,164.17 by 2021. This upward trend may indicate a healthier local economy and potentially higher property values, which can be valuable insights for investors, real estate agents, and potential homebuyers. However, it could also entail higher costs for appraisals and insurance premiums, impacting budget considerations for those moving to or already living in the area.
Average State and Local Income Taxes Per Tax Return in Mercer County, KY Over the Last 10 Years
Over the past decade, Mercer County, Kentucky has seen a notable increase in average state and local income taxes per tax return, rising from approximately $5,371.62 in 2012 to $9,685.29 in 2021. The most significant jumps occurred post-2017, with tax amounts spiking to $8,370.73 in 2018 and continuing an upward trajectory. This trend might reflect economic growth or changes in tax policies, potentially impacting decisions for investors, homebuilders, and new residents assessing the financial climate.
Average Total Tax Liability Per Tax Return in Mercer County, KY Over the Last 10 Years
Over the past decade, residents in Mercer County, Kentucky have seen their average total tax liability per tax return fluctuate notably. Starting at $5,601.91 in 2012, the figure decreased slightly in 2013 to $5,489.96 before rising substantially in recent years, peaking at $7,567.41 in 2021. This trend might suggest an increase in either incomes or overall tax burdens, potentially reflecting economic changes or shifts in tax policy within the county. For those eyeing investments or property development in Mercer County, these trends may indicate growing economic activity or rising living costs, which could impact long-term planning and financial forecasting.
Cost of Living in Mercer County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $993 | $1,287 | $1,752 | $1,056 | $1,076 |
| 1 adult 4 children | $993 | $1,051 | $1,339 | $1,056 | $1,146 |
| 2 adults 3 children | $993 | $1,051 | $1,520 | $1,056 | $896 |
| 1 adult 3 children | $993 | $858 | $1,108 | $1,056 | $914 |
| 2 adults 2 children | $742 | $861 | $1,288 | $916 | $790 |
| 1 adult 2 children | $742 | $643 | $876 | $916 | $677 |
| 2 adults 1 child | $742 | $680 | $1,057 | $461 | $730 |
| 1 adult 1 child | $742 | $439 | $644 | $461 | $607 |
| 2 adults | $576 | $546 | $825 | $0 | $631 |
| 1 adult | $538 | $298 | $412 | $0 | $528 |
Safety trends & Data
In Mercer County, Kentucky, property crime rates have generally decreased over the last five years. Burglary and larceny-theft, which spiked in 2019, have since seen significant drops, with vandalism incidents falling to virtually none from a high of 8.00 in 2018. Motor vehicle thefts and embezzlement cases remain minimal and stable. These trends suggest enhanced safety and potentially more stable property values, which could be appealing to real estate agents and property investors. Moreover,... Read more
Property Crime Trends in Mercer County, KY Over the Last 5 Years
Over the last five years, property crime in Mercer County, Kentucky has shown noticeable fluctuations but a general decline. Burglary and larceny-theft saw significant decreases, notably after spiking in 2019. Vandalism incidents fell from a high of 8.00 in 2018 to virtually none in recent years. Motor vehicle thefts and cases of embezzlement have remained minimal and stable. Real estate agents and property investors should find the downward trends in these crimes encouraging, suggesting enhanced safety and potentially greater property value stability. For insurance agents, this data might imply beneficial adjustments in premium calculations.
Demographics
Mercer County, Kentucky has a nearly even gender split among its adult population. When looking at educational attainment, the majority of residents have completed high school, with notable segments attending some college or earning an associate's degree. The county's age distribution suggests a balanced mix of younger and older adults, hinting at a varied workforce and community dynamics. Racially, the county remains predominantly White, coupled with small percentages of African American and... Read more
Race Distribution in Mercer County, Kentucky (2022)
Educational Attainment in Mercer County, Kentucky (2022)
Age Distribution in Mercer County, Kentucky
Citizen Population in Mercer County, Kentucky (2022)
Political Trends & Data
Mercer County, Kentucky, displayed a pronounced tendency towards Republican preferences in the 2020 Presidential Election, with an estimated 72% of votes going to the GOP candidate. Democrats lagged behind at approximately 26%, and third-party candidates barely registered a presence. This suggests a predominantly conservative electorate with little inclination towards alternative political... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Mercer County, Kentucky, showed a strong leaning towards the Republican candidate in the 2020 U.S. Presidential Election, with an estimated 72% of the votes. Democrats trailed significantly, receiving roughly 26%, while third-party candidates, including Libertarians and others, hardly made a dent in the overall results. The data hints at a solidly conservative voter base, with minimal traction for alternative political options.
72.48% of voters voted for the Republican party in the 2020 Presidential Election
25.85% of voters voted for the Democrat party in the 2020 Presidential Election
1.19% of voters voted for the Livertarian party in the 2020 Presidential Election
0.48% of voters voted for the Other party in the 2020 Presidential Election
School Data
Mercer County, Kentucky's student-to-teacher ratio has oscillated between thirteen and sixteen students per teacher over the last decade, closely aligning with the national average of fourteen. This balance affects class sizes and educational quality, crucial for families considering relocation. A lower ratio could mean more personalized attention for students, potentially boosting academic performance and making the area appealing for real estate investments and family-focused... Read more
Student-to-teacher ratio in Mercer County, Kentucky over the last 10 years
Over the last decade, the student-to-teacher ratio in Mercer County, Kentucky has fluctuated between thirteen and sixteen students per teacher. Despite some variations, it has generally hovered around the national average of fourteen students per teacher. This ratio impacts class sizes and can influence the quality of education, a crucial consideration for families relocating to the area, real estate agents targeting family-centric buyers, and appraisers evaluating local property values. A lower ratio can indicate more individualized attention for students, potentially enhancing academic success and making the county more attractive for investment and residency.
