Montgomery County Real Estate and Livability Trends
Montgomery County, Kentucky is seeing a positive upswing in real estate indicators, with average taxable income rising significantly from $43,114.81 in 2013 to $55,999.25 in 2021, suggesting a strengthening local economy. Home values have grown from $114,000 in 2015 to $142,300 in 2022, yet remain affordable compared to broader benchmarks, attracting potential buyers. Meanwhile, higher state and... Read more
Montgomery County Market Trends
Montgomery County, Kentucky, has seen steady growth in home values, rising from $114,000 in 2015 to $142,300 in 2022, remaining more affordable compared to state and national levels. Energy tax credits peaked at $1,363.64 in 2021, indicating increased investment in energy-efficient home improvements. Real estate taxes per tax return jumped significantly from around $1,771.23 in 2017 to $2,821.05... Read more
Median Value of Occupied Housing Units in Montgomery County, Kentucky Over the Last 8 Years
Montgomery County, Kentucky, has experienced a steady rise in median home values over the past eight years, increasing from $114,000 in 2015 to $142,300 in 2022. While this growth is significant, it remains modest compared to Kentucky's statewide median, which jumped from $123,200 to $177,000 over the same period. Additionally, national trends saw even sharper increases, with median values soaring from $125,500 in 2015 to $179,400 in 2022. These figures suggest that Montgomery County may offer more affordable housing opportunities compared to broader state and national markets, potentially making it an attractive investment for those seeking value in a rising market.
Residential Energy Tax Credit Per Tax Return in Montgomery County, KY Over the Last 8 Years
Residential energy tax credits in Montgomery County, Kentucky have shown notable fluctuations over the past eight years, peaking significantly at $1,363.64 in 2021. The upward trend suggests increasing investment in energy-efficient home improvements, likely driven by higher incentives or awareness. These variations provide potential insight for homeowners, investors, and real estate professionals to anticipate future costs and benefits related to residential energy savings.
Average Real Estate Taxes Per Tax Return in Montgomery County, KY Over the Last 10 Years
Real estate taxes per tax return in Montgomery County, Kentucky, have shown a general upward trend over the past decade, spiking particularly between 2017 and 2019 where they jumped from around $1,771.23 to $2,821.05. This substantial increase could be attributed to rising property values or changes in tax policy. Those considering moving here or investing in property should factor in the higher tax rates when budgeting. For insurance agents, appraisers, and real estate professionals, understanding these fluctuations aids in providing accurate advice and services tailored to the county's economic environment.
Percentage of Farm Returns in Montgomery County, KY Over the Last 10 Years
The percentage of farm tax returns in Montgomery County, Kentucky has shown slight fluctuations over the last decade, ranging from approximately 5.54% to 6.54%. After peaking at 6.54% in 2013, there has been a general downward trend, dipping to about 5.54% in 2020 before a small uptick to 5.82% in 2021. Farm tax returns are documents filed by farm owners that report income and expenses related to agricultural activities. Trends in these returns highlight the economic health and growth of the farming sector. For investors or individuals looking to move to or invest in Montgomery County, Kentucky, this data might imply changes in agricultural productivity and local economic opportunities. The decreasing trend could suggest evolving agricultural practices or economic conditions impacting farm profitability and sustainability.
Number of Mortgages by Occupancy Type in Montgomery County, KY Over the Last 5 Years in Montgomery County
In Montgomery County, Kentucky, mortgage data over the past five years indicates a significant and relatively consistent preference for principal residences compared to investment properties and second residences. Annual mortgage counts for principal residences were consistently above 1,000, peaking in 2021 at 1,615. In contrast, investment properties saw much lower and steadier figures, fluctuating around 55 to 73 mortgages per year. Meanwhile, second residences represented the smallest segment, with figures never surpassing 13 mortgages annually. Changes in occupancy type distribution can serve as a barometer of economic stability and community investment patterns. For potential investors, an increase in principal residence mortgages suggests a stable or growing demand for primary housing, potentially driving up property values and rental yields. Conversely, relatively low investment property activity may point to moderate risks and opportunities for growth in that segment. Real estate agents and builders can leverage these insights to tailor their strategies, focusing resources on meeting the prevailing demand in the local housing market. Insurance agents could use this data to gauge risk exposure tailored to the dominant property types, and appraisers may find correlations between these trends and property valuations.
Economic Outlook
Montgomery County, Kentucky is experiencing a general positive trend in real estate market indicators, with the average taxable income per tax return rising from around $43,114.81 in 2013 to approximately $55,999.25 in 2021. This increase, particularly notable between 2017-2018 and 2019-2021, could suggest a strengthening local economy and higher earning opportunities, making it an attractive spot for potential real estate investment. Additionally, average state and local income taxes per tax... Read more
Average Taxable Income per Tax Return in Montgomery County, KY over the last 9 years
Over the last nine years, Montgomery County, Kentucky has seen a general upward trend in average taxable income per tax return. Starting at approximately $43,114.81 in 2013 and climbing to about $55,999.25 by 2021, this could suggest a strengthening local economy or higher earning opportunities. Notably, the income jump from 2017 to 2018, and again from 2019 to 2021, might indicate a burgeoning area for potential real estate investment and an attractive prospect for those considering a move. While these increases offer promising indicators for property investors and insurance agents, potential residents might appreciate the growing affluence and economic vitality implied by these numbers.
Average State and Local Income Taxes Per Tax Return in Montgomery County, KY Over the Last 10 Years
Montgomery County, Kentucky has seen a notable rise in the average state and local income taxes per tax return over the past decade. Starting from $5,726.05 in 2012, there's a consistent increase that peaks at $12,142.42 in 2021. Particularly, the jump between 2017 and 2018 was quite sharp, moving from $6,792.31 to $8,951.35. This trend might reflect broader economic growth or policy changes impacting residents' tax liabilities, suggesting a potentially higher cost of living and investment implications for both current and prospective residents.
Average Total Tax Liability Per Tax Return in Montgomery County, KY Over the Last 10 Years
In Montgomery County, Kentucky, the average total tax liability per tax return has shown a general upward trend over the past decade. Starting at approximately $5,749.68 in 2012, it has climbed to around $7,666.60 by 2021. Notable increases occurred in 2014, 2017, and especially in 2021, which saw the most significant jump. This trend may indicate growing incomes or changing tax policies, impacting those looking to invest, move, or build property in the area.
Cost of Living in Montgomery County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,062 | $1,279 | $1,752 | $1,113 | $1,083 |
| 1 adult 4 children | $1,062 | $1,044 | $1,339 | $1,113 | $1,127 |
| 2 adults 3 children | $1,062 | $1,045 | $1,520 | $1,113 | $884 |
| 1 adult 3 children | $1,062 | $853 | $1,108 | $1,113 | $900 |
| 2 adults 2 children | $747 | $855 | $1,288 | $967 | $757 |
| 1 adult 2 children | $747 | $639 | $876 | $967 | $661 |
| 2 adults 1 child | $747 | $676 | $1,057 | $493 | $713 |
| 1 adult 1 child | $747 | $437 | $644 | $493 | $596 |
| 2 adults | $619 | $543 | $825 | $0 | $625 |
| 1 adult | $542 | $296 | $412 | $0 | $522 |
Safety trends & Data
Montgomery County, Kentucky has experienced some variability in property crimes over the last five years. Larceny-Theft peaked at 101.00 cases in 2018 and decreased notably to 28.00 in 2021. Burglaries spiked to 18.00 in 2020 but generally range from 8.00 to 13.00 arrests. Motor Vehicle Theft and Vandalism have stayed relatively low and stable. Notably, Forgery and Counterfeiting peaked at 11.00 cases in 2020 but typically stay lower. For insurers assessing risk, real estate agents determining... Read more
Property Crime Trends in Montgomery County, KY Over the Last 5 Years
Montgomery County, Kentucky has seen fluctuating trends in property crimes over the last five years. Larceny-Theft consistently ranges in higher numbers, with a peak of 101.00 reported cases in 2018 and a noticeable drop to 28.00 cases in 2021. Burglary cases saw a spike to 18.00 in 2020 but generally hover around 8.00 to 13.00 arrests. Motor Vehicle Theft and Vandalism have remained relatively low and stable. There's a notable occurrence of Forgery and Counterfeiting peaking at 11.00 in 2020 but mostly staying lower. These trends matter for insurers assessing risk, real estate agents gauging property values, and new residents considering safety in the area.
Demographics
The adult population in Montgomery County, Kentucky, appears skewed toward females, suggesting possible socioeconomic factors at play. The educational attainment data indicates that the majority of residents likely possess a high school diploma or equivalent, with fewer pursuing higher education degrees. Age distribution is fairly diverse, but there's a notable concentration in the 45 to 54-year-old range, possibly reflecting a stable working-age community. Racial demographics show a... Read more
Race Distribution in Montgomery County, Kentucky (2022)
Educational Attainment in Montgomery County, Kentucky (2022)
Age Distribution in Montgomery County, Kentucky
Citizen Population in Montgomery County, Kentucky (2022)
Political Trends & Data
Montgomery County, Kentucky, exhibited a pronounced Republican preference in the 2020 U.S. Presidential Election, with about 70% of votes. The Democratic party secured around 28%, and third-party candidates collected a relatively minor share. This trend might point to a robust conservative tilt that could shape local policy and affect future political... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Montgomery County, Kentucky, saw a significant lean towards the Republican party in the 2020 U.S. Presidential Election, with approximately 70% of the vote. The Democratic party garnered roughly 28%, while third-party candidates, including the Libertarian and other parties, together made up a small portion of the electorate. This distribution could suggest a strong conservative presence in the county and may influence local policy trends and future political campaigns.
70.06% of voters voted for the Republican party in the 2020 Presidential Election
28.28% of voters voted for the Democrat party in the 2020 Presidential Election
1.20% of voters voted for the Livertarian party in the 2020 Presidential Election
0.47% of voters voted for the Other party in the 2020 Presidential Election
School Data
Montgomery County, Kentucky has experienced a declining student-to-teacher ratio over the last decade, falling below the national average of fourteen students per teacher since 2014. Recent years have seen ratios around twelve students per teacher, suggesting smaller class sizes. This trend may appeal to families interested in a more personalized education for their children and could potentially boost local property values. For investors, appraisers, and real estate agents, the focus on... Read more
Student-to-teacher ratio in Montgomery County, Kentucky over the last 10 years
Montgomery County, Kentucky has seen a generally declining student-to-teacher ratio over the last decade, dipping below the national average of 14 students per teacher since 2014. In recent years, ratios hovered around twelve students per teacher, suggesting smaller class sizes which could appeal to families seeking more personalized education for their children. For investors, appraisers, and real estate agents, this trend may indicate a community prioritizing education, potentially increasing local property value. Insurance agents and developers might also see this as a sign of a stable and attractive community for long-term investment.
