Nelson County Real Estate and Livability Trends
Nelson County, Kentucky's real estate market shows compelling trends that may attract investors and new residents. Median home values climbed to $204,000 in 2022, outperforming state and national medians, suggesting strong local market growth. A notable decrease in the student-to-teacher ratio to around 15 by 2023 aligns with national averages, potentially boosting property values for... Read more
Nelson County Market Trends
Nelson County, Kentucky's median home values have climbed to $204,000 in 2022, outperforming both state and national medians, suggesting a strong local market with significant appreciation potential. The residential energy tax credit data shows dramatic yearly fluctuations, with peaks like $2,666.67 in 2018 possibly reflecting varying investments in energy-efficient improvements driven by policy... Read more
Median Value of Occupied Housing Units in Nelson County, Kentucky Over the Last 8 Years
Nelson County, Kentucky has seen consistent growth in median home values over the last eight years, with a notable jump to $204,000 in 2022. This outpaces both the Kentucky state median of $177,000 and the national median of $179,400 for 2022. For investors or prospective homeowners, this robust increase might indicate a strong local market, offering promising appreciation potential. Mid-year surges, particularly post-2020, could reflect increased demand or limited supply in the area.
Residential Energy Tax Credit Per Tax Return in Nelson County, KY Over the Last 9 Years
In Nelson County, Kentucky, the average residential energy tax credit per tax return has seen notable fluctuations over the past nine years. The credit peaked dramatically at $2,666.67 in 2018, a stark contrast to lows such as $400.00 in 2017. Key years like 2015 and 2021 also show significant spikes, with averages of $612.24 and $1,245.83 respectively. This pattern may imply varying levels of investment in energy-efficient home improvements, potentially driven by changing policy incentives, economic conditions, or increased homeowner awareness and participation in green initiatives. Chances are, these shifts could impact property values, insurance considerations, and investment decisions within the county.
Average Real Estate Taxes Per Tax Return in Nelson County, KY Over the Last 10 Years
Nelson County, Kentucky has seen a significant increase in average real estate taxes per tax return over the last decade, with notable spikes after 2017. Taxes rose from $1,818.96 in 2012 to $3,209.64 by 2021, with the most dramatic jump occurring between 2017 and 2018. This trend may imply an increase in property valuations or changes in tax rates, making it potentially more costly for property owners but also suggesting increased investment in local infrastructure and services. For investors, appraisers, insurance agents, and prospective residents, this trend underscores the changing financial landscape of property ownership in Nelson County.
Percentage of Farm Returns in Nelson County, KY Over the Last 10 Years
Over the past decade, Nelson County, Kentucky has seen a slight decline in the percentage of farm returns, dropping from approximately 6.92% in 2012 to around 5.76% in 2021. Farm tax returns essentially represent the number of tax filings from agricultural operations within the county. This gradual decrease might suggest a shift away from agriculture or consolidation of existing farms, which could impact local investment opportunities, development projects, or property value trends. Investors and residents need to consider these dynamics as they could influence economic stability and growth in the area.
Number of Mortgages by Occupancy Type in Nelson County, KY Over the Last 5 Years in Nelson County
Nelson County, Kentucky, has seen a varied trend in its mortgage types over the past five years. The number of mortgages for principal residences typically dominates the market, but there's notable fluctuation, peaking in 2021 with around 3,400 and then dropping. Investment property mortgages have consistently been a smaller chunk, noticeably declining from 97 in 2019 to 41 in 2022. Second residences remain the rarest, albeit with small increases in certain years. These shifts suggest possible changes in economic conditions, market demand, and investment strategies, which could impact real estate decisions, property appraisals, and insurance evaluations. Investors might find these insights useful for identifying property value trends and market stability.
Economic Outlook
Nelson County, Kentucky's average taxable income per tax return climbed from $50,448.84 in 2013 to $65,820.83 by 2021, hinting at possible economic growth and increased property values. Over the same period, average state and local income taxes surged from $5,313.10 in 2012 to $13,400.00 in 2021, suggesting economic expansion or shifts in tax policy. Additionally, total tax liability also rose from $6,210.23 in 2012 to $9,517.30 by 2021, reflecting potential increases in earnings or tax... Read more
Average Taxable Income per Tax Return in Nelson County, KY over the last 9 years
Nelson County, Kentucky has seen a general increase in its average taxable income per tax return over the last nine years. Starting from $50,448.84 in 2013, the figures exhibit fluctuations but generally trend upwards, reaching $65,820.83 by 2021. This uptick may indicate growing economic prosperity, which can be appealing to investors and those considering relocating. For appraisers and insurance agents, the rising incomes could suggest increased property values and potential for higher insurance premiums. Real estate agents might find this appealing when marketing the area to potential buyers seeking a thriving community.
Average State and Local Income Taxes Per Tax Return in Nelson County, KY Over the Last 10 Years
Nelson County, Kentucky has seen fluctuating but significant increases in average state and local income taxes per tax return over the last decade. Starting from $5,313.10 in 2012, the average tax has escalated substantially, peaking at $13,400.00 in 2021. This growing tax burden could hint at economic growth or policy changes, making it essential for potential investors or residents to consider tax planning carefully.
Average Total Tax Liability Per Tax Return in Nelson County, KY Over the Last 10 Years
In the last decade, Nelson County, Kentucky has seen a somewhat volatile yet generally upward trend in average total tax liability per tax return. Starting at $6,210.23 in 2012, liabilities peaked significantly in 2016 at $8,957.64 before fluctuating and ultimately rising again to $9,517.30 by 2021. This trend could signal increased earnings among residents or changes in tax policy affecting the area, providing valuable insights for potential investors, prospective homeowners, and current residents alike.
Cost of Living in Nelson County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,119 | $1,307 | $1,714 | $1,012 | $1,125 |
| 1 adult 4 children | $1,119 | $1,067 | $1,310 | $1,012 | $1,205 |
| 2 adults 3 children | $1,119 | $1,068 | $1,488 | $1,012 | $934 |
| 1 adult 3 children | $1,119 | $872 | $1,084 | $1,012 | $975 |
| 2 adults 2 children | $789 | $874 | $1,261 | $878 | $801 |
| 1 adult 2 children | $789 | $653 | $857 | $878 | $716 |
| 2 adults 1 child | $789 | $691 | $1,034 | $442 | $764 |
| 1 adult 1 child | $789 | $446 | $630 | $442 | $624 |
| 2 adults | $599 | $555 | $808 | $0 | $644 |
| 1 adult | $572 | $303 | $404 | $0 | $545 |
Safety trends & Data
Nelson County, Kentucky has seen a significant drop in property crimes like larceny and burglary, with incidents falling from 48.00 and 23.00 in 2018 to just 6.00 and 3.00 in 2022, respectively. However, there's been a notable rise in fraud cases, increasing from 1.00 in 2018 to 5.00 in 2022. The stolen property category also showed peaks in 2020 and 2021 with 18.00 incidents each year, before decreasing to 10.00 in 2022. These trends could inform decisions for property investors and potential... Read more
Property Crime Trends in Nelson County, KY Over the Last 5 Years
Nelson County, Kentucky has experienced fluctuating trends in property crime over the past five years. Initially, in 2018, there was a notable amount of Larceny - Theft incidents with 48.0 occurrences and Burglary at 23.0. However, by 2022, these numbers dropped significantly to 6.0 and 3.0 respectively. Conversely, incidents of Fraud saw an increase, starting at 1.0 in 2018 and rising to 5.0 by 2022. The category of Stolen Property also indicated varying activity, peaking at 18.0 in 2020 and 2021, before dropping to 10.0 in 2022. These trends are essential for potential investors, real estate professionals, and residents, as they provide insights into the evolving safety profile of the area.
Demographics
Nelson County, Kentucky's demographic landscape reveals a nearly even split between males and females, with a small female majority. The majority of adults have at least a high school diploma or equivalent, but there's a significant spread across higher education levels, suggesting a diverse mix of educational backgrounds. Age distribution highlights a substantial number of children under 10 and a significant cohort of individuals aged 55-64, which could indicate a growing need for both schools... Read more
Race Distribution in Nelson County, Kentucky (2022)
Educational Attainment in Nelson County, Kentucky (2022)
Age Distribution in Nelson County, Kentucky
Citizen Population in Nelson County, Kentucky (2022)
Political Trends & Data
Nelson County, Kentucky, indicates a predominantly conservative demographic, with close to 68% supporting the Republican candidate in the 2020 U.S. Presidential Election while Democrats garnered around 31%. Libertarian and other party votes were negligible, highlighting a significant preference for Republican candidates in this... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Nelson County, Kentucky, saw a strong trend towards Republican support in the 2020 U.S. Presidential Election, with nearly 68% of the vote. In contrast, Democrats received around 31% of the votes, indicating a significant preference for Republican candidates in this area. Libertarian votes were minimal, at just over 1%, and other parties made barely any impact. This suggests that political leanings in Nelson County are predominantly conservative.
67.55% of voters voted for the Republican party in the 2020 Presidential Election
30.92% of voters voted for the Democrat party in the 2020 Presidential Election
1.15% of voters voted for the Livertarian party in the 2020 Presidential Election
0.37% of voters voted for the Other party in the 2020 Presidential Election
School Data
Nelson County, Kentucky has experienced a notable decrease in its student-to-teacher ratio over the past decade, dropping from nearly 20 students per teacher in 2014 to around 15 in 2023. This trend, which aligns closely with the national average of 14 students per teacher, could appeal to families prioritizing education, potentially influencing property values. These shifts might also be worth considering for real estate agents, appraisers, and investors focusing on educational... Read more
Student-to-teacher ratio in Nelson County, Kentucky over the last 10 years
Over the past decade, Nelson County, Kentucky has seen a notable shift in its student-to-teacher ratio, declining from a high of nearly 20 students per teacher in 2014 to approximately 15 in 2023. While it remained relatively stable around 19 students per teacher through 2020, a significant reduction began in 2021 and continues into 2023. This trend is approaching the national average of 14 students per teacher, likely enhancing the quality of education by allowing more personalized attention and support for students. These changes might attract families prioritizing education, influence property values, and could be a key consideration for real estate agents, appraisers, and those planning investments in educational infrastructure.
