Monroe County Real Estate and Livability Trends
Monroe County, Kentucky is experiencing a steady rise in average taxable income, now at $49,529.47, which could indicate improving property values and economic stability. While median home values jumped to $113,900 in 2022, they still trail state and national growth rates. Real estate taxes have more than doubled since 2012, potentially affecting property affordability and appeal.... Read more
Monroe County Market Trends
Monroe County, Kentucky has seen a notable rise in median home values from $70,600 in 2015 to $113,900 in 2022, although this growth lags behind both state and national trends. With real estate taxes jumping from $988.46 in 2012 to $2,216.67 in 2021, operational costs are on the rise, which could impact the appeal and affordability of properties. The county's largely residential character is... Read more
Median Value of Occupied Housing Units in Monroe County, Kentucky Over the Last 8 Years
Over the past eight years, Monroe County, Kentucky, has seen a considerable climb in median home values, rising from $70,600 in 2015 to $113,900 in 2022. This growth trajectory, while substantial, still falls below both the state of Kentucky and national home value trends. Kentucky's median home values have increased from $123,200 to $177,000, and nationwide values have risen from $125,500 to $179,400 within the same period. Investors and potential property builders in Monroe County might find this a compelling opportunity given the region's relative affordability yet evident growth.
Residential Energy Tax Credit Per Tax Return in Monroe County, KY Over the Last 4 Years
Monroe County, Kentucky has seen fluctuating trends in residential energy tax credit values per tax return over the past four years. In 2013, residents claimed an average of $316.67, which dropped to $233.33 in 2014, indicating a potential dip in energy-efficient investments. However, 2015 saw an increase to $340.00 before declining again to $250.00 in 2016. This variability may reflect changing local investments in energy efficiency or shifts in available tax credits. For investors and residents alike, these patterns could suggest periodic opportunities or constraints in maximizing energy tax savings, which may have broader implications for property values and energy costs.
Average Real Estate Taxes Per Tax Return in Monroe County, KY Over the Last 10 Years
Over the past decade, Monroe County, Kentucky has experienced a noticeable increase in the average real estate taxes per tax return. Starting at $988.46 in 2012, the value has climbed to $2,216.67 by 2021. Significant jumps are seen around 2018-2019, suggesting possible changes in property values or tax policies. For potential investors, homeowners, and real estate professionals, this trend implies rising operational costs which may affect overall property appeal and affordability. Appraisers and insurance agents might need to factor in these increasing expenses when evaluating properties in the region.
Percentage of Farm Returns in Monroe County, KY Over the Last 10 Years
In Monroe County, Kentucky, the percentage of farm tax returns has hovered around 21% over the past decade, with a slight drop to approximately 19.14% in 2021. This suggests that the agricultural sector remains a significant part of the local economy, though there's a subtle hint of decline. For potential investors, builders, or new residents, these farm returns can indicate the vitality of agricultural activities, impacting land use and economic trends in the region.
Number of Mortgages by Occupancy Type in Monroe County, KY Over the Last 5 Years in Monroe County
Monroe County, Kentucky has shown a consistent preference for principal residences in terms of mortgage numbers, suggesting that the area remains primarily residential. Investment properties have maintained steady, albeit much lower, mortgage counts, hinting at a less aggressive investment market. The minimal activity in second residence mortgages could indicate limited appeal for vacation homes, possibly due to the region's specific amenities or economic factors. These trends might matter for investors and real estate agents considering market dynamics, appraisers and insurers evaluating risk, and builders understanding demand for different property types.
Economic Outlook
Monroe County, Kentucky demonstrates a gradual increase in average taxable income, hitting $49,529.47 in 2021, which might indicate rising property values and economic stability. From 2012 to 2021, state and local income taxes surged dramatically, reaching an average of $15,100.00 per tax return, suggesting enhanced public investment and infrastructure. The average total tax liability also climbed to $7,530.48 in 2021, pointing to greater fiscal obligations for residents. These financial trends... Read more
Average Taxable Income per Tax Return in Monroe County, KY over the last 9 years
Monroe County, Kentucky has seen a gradual but noticeable increase in average taxable income per tax return over the past nine years, with a significant jump in 2021 reaching $49,529.47. This overall upward trend could be an attractive indicator for prospective investors and real estate agents, as rising incomes often correlate with increasing property values and economic stability. For those considering relocation or starting businesses, this could point to a growing and potentially more affluent population. Appraisers and insurance agents might also find this trend useful for evaluating property values and risk assessments.
Average State and Local Income Taxes Per Tax Return in Monroe County, KY Over the Last 10 Years
Over the past decade, Monroe County, Kentucky has seen a significant increase in average state and local income taxes per tax return, rising from $5,407.27 in 2012 to $15,100.00 in 2021. The most notable surges occurred between 2017 and 2019, with a peak at $22,450.00 in 2019. This upward trend indicates a potential increase in public investment and infrastructure, which could be attractive to investors and property developers. However, those looking to move to the area may need to consider the impact of higher taxes on their cost of living.
Average Total Tax Liability Per Tax Return in Monroe County, KY Over the Last 10 Years
Over the past decade, the average total tax liability per tax return in Monroe County, Kentucky has generally increased, with a notable spike in 2021 to $7,530.48. Key highlights include a steady rise from 2016's $5,425.00 to 2019's $5,860.38, suggesting a trend of growing fiscal obligations for residents. Potential investors or those planning to relocate might view this upward trend as indicative of economic changes in the region, potentially affecting property values and the overall cost of living.
Cost of Living in Monroe County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $993 | $1,223 | $1,820 | $1,012 | $1,032 |
| 1 adult 4 children | $993 | $998 | $1,392 | $1,012 | $1,066 |
| 2 adults 3 children | $993 | $999 | $1,579 | $1,012 | $844 |
| 1 adult 3 children | $993 | $815 | $1,151 | $1,012 | $842 |
| 2 adults 2 children | $742 | $818 | $1,338 | $878 | $742 |
| 1 adult 2 children | $742 | $611 | $910 | $878 | $640 |
| 2 adults 1 child | $742 | $646 | $1,097 | $442 | $707 |
| 1 adult 1 child | $742 | $417 | $669 | $442 | $587 |
| 2 adults | $564 | $519 | $856 | $0 | $612 |
| 1 adult | $538 | $283 | $428 | $0 | $522 |
Safety trends & Data
Monroe County, Kentucky has witnessed fluctuating property crime trends over the past five years, with significant variations in burglary and larceny-theft rates. Burglary incidents notably increased from 3 in 2018 to 5 in 2021, while larceny-theft peaked at 4 cases in 2021 before dropping to just 1 in 2022. The emergence of motor vehicle theft, marked by 3 incidents in 2021, suggests a shift in crime patterns. These crime trends could influence investors, real estate professionals, and... Read more
Property Crime Trends in Monroe County, KY Over the Last 5 Years
Over the past five years, Monroe County, Kentucky has experienced variable trends in property crimes, with notable fluctuations in burglary and larceny-theft rates. Burglary incidents increased significantly, jumping from 3 in 2018 to 5 in 2021. Conversely, larceny-theft incidents peaked in 2021 at 4 reports but saw a decline to just 1 report in 2022. The emergence of motor vehicle theft in 2021, with 3 incidents recorded, indicates a shift in crime patterns that stakeholders should monitor. These evolving crime trends provide critical insights for investors, real estate professionals, and insurance agents assessing risk and property values in the area.
Demographics
Monroe County, Kentucky shows a slight gender tilt with a modestly higher population of females compared to males. The county's educational attainment highlights a significant segment with only high school diplomas or some college but no degree, suggesting room for higher educational opportunities. An interesting age distribution reveals a concentration in older age groups, particularly those from 55 to 64 years, indicating potential needs in services tailored to the senior community.... Read more
Race Distribution in Monroe County, Kentucky (2022)
Educational Attainment in Monroe County, Kentucky (2022)
Age Distribution in Monroe County, Kentucky
Citizen Population in Monroe County, Kentucky (2022)
Political Trends & Data
In Monroe County, Kentucky, the 2020 U.S. Presidential Election data hints at a strong Republican presence, a trend often seen in rural parts of the state. Despite a modest Democrat vote share, the potential for future shifts can't be ignored. Minimal support for third-party candidates suggests a solid two-party system, with little room for fringe political... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Monroe County, Kentucky, the 2020 U.S. Presidential Election results leaned heavily towards the Republican party, which possibly reflects broader political trends in more rural regions of the state. Even though the Democrat percentage is modest, it still suggests there is some local support that could be noteworthy for future campaigns or shifts. Third party options like Libertarian and other minor parties drew minimal interest, indicating a strong two-party preference in this area.
86.83% of voters voted for the Republican party in the 2020 Presidential Election
12.33% of voters voted for the Democrat party in the 2020 Presidential Election
0.56% of voters voted for the Livertarian party in the 2020 Presidential Election
0.28% of voters voted for the Other party in the 2020 Presidential Election
School Data
Monroe County, Kentucky's student-to-teacher ratio has seen fluctuations, with peaks around fifteen students per teacher in 2017 and 2020, slightly above the national average of 14. This might indicate periods of crowded classrooms, impacting perceptions of the local education system. For investors, homebuyers, appraisers, and real estate developers, this data could influence decisions, as larger class sizes might affect family relocation choices and, consequently, real estate demand and... Read more
Student-to-teacher ratio in Monroe County, Kentucky over the last 10 years
Monroe County, Kentucky's student-to-teacher ratio has fluctuated over the past decade, with notable peaks around 2017 and 2020, reaching as high as fifteen students per teacher. While these ratios generally hover close to the national average of 14 students per teacher, the higher values could suggest periods where classrooms were a bit more crowded than typically seen across the country. This can be significant for potential investors, homebuyers, appraisers, and real estate developers as it may impact perceptions of the local education system. Higher ratios might indicate larger class sizes, which could influence family decisions regarding relocation, thus potentially affecting real estate demand and property values. For insurance agents and appraisers, understanding these trends offers a more comprehensive view of community dynamics when assessing risk and property worth.
