Morgan County Real Estate and Livability Trends
Morgan County, Kentucky has seen an impressive rise in average taxable income per tax return from $38,646.76 in 2013 to $48,726.62 in 2021, suggesting a gradually improving local economy. The median home value has climbed from $75,500 in 2015 to $90,800 in 2022, offering an intriguing mix of affordability and investment potential, despite its volatility compared to state and national trends. The... Read more
Morgan County Market Trends
Morgan County, Kentucky's housing market has seen notable fluctuations over the past eight years, with the median home value reaching $90,800 in 2022, up from $75,500 in 2015. This contrasts with the more consistent rises at the state and national levels, suggesting more unpredictable returns but potential investment opportunities given its affordability. Residential energy tax credits in the... Read more
Median Value of Occupied Housing Units in Morgan County, Kentucky Over the Last 8 Years
Morgan County, Kentucky's housing market has demonstrated some significant ups and downs over the last eight years, with median home values undergoing a mix of fluctuations. In 2022, the median home value reached $90,800, a big leap compared to $75,500 in 2015. This erratic trend contrasts with the more consistent increases seen at the state and national levels. For example, Kentucky's median home value went from $123,200 in 2015 to $177,000 in 2022, while the U.S. saw values rise from $125,500 to $179,400 in the same period. This suggests Morgan County could offer more unpredictable returns but might also present opportunities for strategic investment, especially given its affordability.
Residential Energy Tax Credit Per Tax Return in Morgan County, KY Over the Last 7 Years
Over the last seven years, Morgan County, Kentucky has typically seen fluctuations in Residential Energy Tax Credits per tax return, averaging between approximately $260.00 and $350.00. Notably, the credits peaked at $350.00 in 2020 and 2021, indicating a possible increase in energy-efficient property improvements or installations. This trend might interest those considering investments in green technology, as well as appraisers and insurers looking to understand market adjustments in residential energy efficiency. Real estate agents and potential homeowners could see value in promoting or buying properties with energy-saving features, which may be increasingly sought after and financially advantageous.
Average Real Estate Taxes Per Tax Return in Morgan County, KY Over the Last 10 Years
Morgan County, Kentucky has seen fluctuating but generally increasing real estate taxes over the past decade, peaking notably in 2018 at $1,742.86. While there was a decline in 2020 to $1,475.00, values have seen a rebound to $1,700.00 in 2021. This upward trend may reflect increasing property values or changes in tax assessments, relevant for potential investors, homeowners, and real estate professionals assessing the area's economic landscape.
Percentage of Farm Returns in Morgan County, KY Over the Last 10 Years
Morgan County, Kentucky has seen noticeable fluctuations in the percentage of farm tax returns over the past decade. It peaked at 18.84% in 2014 but generally showed a downward trend, hitting a low of 11.86% in 2020. Farm tax returns, which include financial disclosures specific to agricultural activities, are a key economic indicator. They provide insights into the health and viability of farming in the region, potentially impacting land values, local investment opportunities, and community development plans. For investors and prospective residents, understanding these trends could be crucial for making informed decisions about property and economic activities in Morgan County.
Number of Mortgages by Occupancy Type in Morgan County, KY Over the Last 5 Years in Morgan County
Morgan County, Kentucky has seen noteworthy trends in mortgage counts over the past five years, with a marked dominance of principal residences in the overall numbers. Investment properties remained relatively low but showed some fluctuations, peaking slightly in 2021 before dropping again in 2022. The counts for second residences have remained stable but minimal. Changes in occupancy type could indicate shifts in local real estate dynamics, potentially influencing investment opportunities, insurance premiums, and even property values. Buyers, investors, and real estate professionals may therefore find these trends useful for making informed decisions about the market.
Economic Outlook
Morgan County, Kentucky has experienced a notable upward trend in average taxable income per tax return over the past nine years, growing from $38,646.76 in 2013 to $48,726.62 in 2021. With some fluctuations in state and local income taxes, peaking at $7,650.00 in 2019 before dipping during the pandemic, this stabilizing trend resumed at $7,071.43 in 2021. These rising metrics suggest a gradually improving local economy, appealing for real estate investors, appraisers, and prospective... Read more
Average Taxable Income per Tax Return in Morgan County, KY over the last 9 years
Morgan County, Kentucky has seen a general upward trend in average taxable income per tax return over the past nine years. While there were slight dips in 2016 and 2020, the overall increase from $38,646.76 in 2013 to $48,726.62 in 2021 suggests an improving economic situation. This gradual increase may be appealing to potential investors and real estate agents, indicating a potentially growing and stable local economy. For appraisers and insurance agents, the rising taxable income could point to higher property values and insurance requirements. Builders and those considering moving to the area might find this growth encouraging, as it may reflect a trend of increasing prosperity and investment in Morgan County.
Average State and Local Income Taxes Per Tax Return in Morgan County, KY Over the Last 10 Years
Over the last decade, Morgan County, Kentucky has seen fluctuations in average state and local income taxes per tax return. The most notable increases occurred between 2016 and 2019, peaking at $7,650.00 in 2019. Despite a significant drop to $4,840.00 in 2020, likely influenced by the economic impact of the pandemic, the taxes rebounded to $7,071.43 in 2021. These changes could suggest a volatile economic environment worth monitoring for prospective investors or residents.
Average Total Tax Liability Per Tax Return in Morgan County, KY Over the Last 10 Years
In Morgan County, Kentucky, the average total tax liability per tax return has seen notable fluctuations over the past decade. Notwithstanding some dips, an overall upward trend is evident, peaking at $6,372.50 in 2021. For those considering investing, moving, or building property in the area, these figures hint at an increasing economic burden, potentially affecting disposable income and shaping financial planning strategies. This rise in tax liabilities could reflect broader economic conditions or shifts in local policy, necessitating a closer look for long-term financial decisions in this region.
Cost of Living in Morgan County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $982 | $1,279 | $1,612 | $1,113 | $1,016 |
| 1 adult 4 children | $982 | $1,044 | $1,231 | $1,113 | $1,059 |
| 2 adults 3 children | $982 | $1,045 | $1,399 | $1,113 | $834 |
| 1 adult 3 children | $982 | $853 | $1,019 | $1,113 | $839 |
| 2 adults 2 children | $742 | $855 | $1,187 | $967 | $735 |
| 1 adult 2 children | $742 | $639 | $806 | $967 | $640 |
| 2 adults 1 child | $742 | $676 | $974 | $493 | $693 |
| 1 adult 1 child | $742 | $437 | $593 | $493 | $578 |
| 2 adults | $564 | $543 | $761 | $0 | $588 |
| 1 adult | $538 | $296 | $381 | $0 | $501 |
Safety trends & Data
Morgan County, Kentucky, exhibits fluctuating property crime trends that investors and potential residents should consider. High incidents of burglary and vandalism over five years, along with spikes in fraud and larceny-theft in 2021, may affect property values and insurance premiums. Understanding these dynamics can provide valuable insight into the area's safety and long-term stability, crucial for making informed real estate... Read more
Property Crime Trends in Morgan County, KY Over the Last 5 Years
Over the past five years, Morgan County, Kentucky, has seen a varied property crime trend. Consistent incidents of burglary and vandalism demonstrate ongoing concerns, with notable spikes in fraud cases in 2021 and larceny-theft peaking in the same year. Investment interest may hinge on understanding these dynamics, particularly as fluctuations in crime rates impact property values and insurance premiums. For real estate agents and potential residents, comprehending these patterns can offer critical insights into the area's safety and long-term stability.
Demographics
Morgan County, Kentucky, has a more substantial male adult population, with about 1.39 males for every female. The community shows a considerable portion of high school graduates, but noticeably fewer residents possess a college degree compared to those with only some college or less. The age distribution reveals a younger population with significant clusters in the 25-34 and 35-44 age groups, potentially indicating a workforce-centric demographic. Racially, the county remains predominantly... Read more
Race Distribution in Morgan County, Kentucky (2022)
Educational Attainment in Morgan County, Kentucky (2022)
Age Distribution in Morgan County, Kentucky
Citizen Population in Morgan County, Kentucky (2022)
Political Trends & Data
Morgan County, Kentucky, tends to exhibit a strong conservative bent, which might influence local real estate trends and buyer preferences. If 78% of the 2020 U.S. Presidential Election votes possibly went to the Republican candidate, it hints at a market that could be appealing to buyers valuing stability and traditional values. This political leaning may shape everything from development projects to community amenities, swaying demand and neighborhood... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Morgan County, Kentucky, appeared to heavily lean Republican in the 2020 U.S. Presidential Election, with nearly 78% of the vote possibly going to the Republican candidate. The Democrats might have garnered a little over 21%, while third-party options such as the Libertarians and others collectively captured a minor share. This could suggest a significant conservative inclination among the voters in Morgan County.
77.63% of voters voted for the Republican party in the 2020 Presidential Election
21.17% of voters voted for the Democrat party in the 2020 Presidential Election
0.49% of voters voted for the Livertarian party in the 2020 Presidential Election
0.70% of voters voted for the Other party in the 2020 Presidential Election
School Data
Morgan County, Kentucky has experienced a notable downward trend in its student-to-teacher ratio over the past decade, with the ratio dropping from nearly 17 students per teacher in 2014 to around 12 students per teacher by 2023. This is consistently lower than the national average of 14 students per teacher, potentially appealing to families and educators seeking more individualized attention in education. This trend may also influence property values and community growth, providing useful... Read more
Student-to-teacher ratio in Morgan County, Kentucky over the last 10 years
Over the past decade, Morgan County, Kentucky has seen some interesting shifts in its student-to-teacher ratio. The ratio peaked at nearly 17 students per teacher in 2014 but generally trended downward, reaching as low as 12 students per teacher by 2023. This is consistently lower than the current national average of 14 students per teacher, implying smaller class sizes. Smaller classes could likely mean more individualized attention for students, which might appeal to families and educators considering a move to Morgan County. This ratio is also a noteworthy point for real estate agents, appraisers, and those looking to invest in the area, as quality education indicators could potentially influence property values and community growth. Insurance agents might also see relevance, as demographics and local school quality can factor into risk assessments and policy pricing.
