Nicholas County Real Estate and Livability Trends
In Nicholas County, Kentucky, real estate trends suggest growing economic strength with average taxable incomes increasing from $35,805.05 in 2013 to $43,915.16 in 2021, though higher state and local taxes might indicate a rising cost of living. Median home values surged from $83,900 in 2015 to $111,300 in 2022, outpacing broader trends and potentially attracting investors. The rise in... Read more
Nicholas County Market Trends
In Nicholas County, Kentucky, median home values have surged from $83,900 in 2015 to $111,300 in 2022, gaining traction compared to national and state trends, making it an appealing prospect for investors. Real estate tax increases, from $1,022.73 in 2012 to nearly $1,950.00 in 2021, suggest growing property values or changing policies. The rise in residential energy tax credits, from $275.00 in... Read more
Median Value of Occupied Housing Units in Nicholas County, Kentucky Over the Last 8 Years
In the last eight years, Nicholas County, Kentucky has seen its median home values fluctuate but ultimately exhibit significant growth, with a jump from $83,900 in 2015 to $111,300 in 2022. While the national median values have consistently increased from $125,500 in 2015 to $179,400 in 2022, and Kentucky's values similarly rising from $123,200 to $177,000, Nicholas County's recent spike in 2022 positions it as an intriguing option for investors and homeowners. This notable increase suggests emerging opportunities in Nicholas County that savvy buyers might want to consider before the market stabilizes further.
Residential Energy Tax Credit Per Tax Return in Nicholas County, KY Over the Last 5 Years
Over the past five years, Nicholas County, Kentucky has seen fluctuations in the average residential energy tax credit per tax return. After a dip to $275.00 in 2014, the credit rebounded, peaking at $500.00 in 2020. This trend hints at a growing adoption of energy-efficient home improvements, which could be appealing for investment and development opportunities. Appraisers and insurance agents might view this as a sign of increasing property value linked to energy efficiency, while real estate agents could market these benefits to potential buyers interested in long-term savings.
Average Real Estate Taxes Per Tax Return in Nicholas County, KY Over the Last 10 Years
The average real estate taxes per tax return in Nicholas County, Kentucky have shown a relatively steady increase over the past decade, suggesting a rising cost trend that might be of interest to potential investors and homeowners. Starting at approximately $1,022.73 in 2012, taxes steadily climbed to around $1,224.39 by 2017, then saw a sharper increase, jumping to $1,483.33 in 2018 and finally nearing $1,950.00 in 2021. This upward trajectory could imply increasing property values or changing tax policies, relevant for appraisers, real estate agents, and insurance agents assessing the market.
Percentage of Farm Returns in Nicholas County, KY Over the Last 10 Years
Over the past decade in Nicholas County, Kentucky, the percentage of farm tax returns has shown slight fluctuations, ranging from a low of roughly 16.99% in 2019 to a peak near 19.19% in 2013. Farm tax returns signify the proportion of income tax filings tied directly to farm income, reflecting both the agricultural health and the overall dependence on farming within the county. This metric can offer insights for potential investors and property developers into the stability and viability of the agricultural sector, which might influence decisions related to land use and economic support for local farmers.
Number of Mortgages by Occupancy Type in Nicholas County, KY Over the Last 5 Years in Nicholas County
Over the last five years in Nicholas County, Kentucky, principal residences have consistently dominated the mortgage landscape, seeing a notable increase from 191 in 2018 to 265 in 2022. Investment property mortgages have remained relatively stable, fluctuating only slightly around a low double-digit range, while second residence mortgages have experienced a gradual climb. These shifts in occupancy types could suggest changing community preferences and economic conditions, offering potential indicators for investors, appraisers, and developers aiming to understand local market dynamics. For residents and real estate agents, this trend might hint at evolving housing needs and investment opportunities within the county, impacting housing values and insurance considerations.
Economic Outlook
In Nicholas County, Kentucky, there’s been a notable rise in average taxable income per tax return over the past nine years, increasing from approximately $35,805.05 in 2013 to around $43,915.16 in 2021. This suggests growing economic strength, which could be a significant draw for investors and potential new residents. However, state and local income taxes have also increased, from $6,166.67 in 2012 to $8,120.00 in 2021, suggesting a potentially higher cost of living. Additionally, average... Read more
Average Taxable Income per Tax Return in Nicholas County, KY over the last 9 years
Over the last nine years, the average taxable income per tax return in Nicholas County, Kentucky has seen a gradual and somewhat consistent increase, rising from approximately $35,805.05 in 2013 to roughly $43,915.16 in 2021. This upward trend suggests a growing economic strength in the area, which could be attractive to investors and potential new residents. For those in real estate, insurance, and property development, this data might indicate a stable and potentially lucrative market. Such economic indicators could also influence property appraisals positively, reflecting a community experiencing gradual income growth.
Average State and Local Income Taxes Per Tax Return in Nicholas County, KY Over the Last 10 Years
Over the past decade, Nicholas County, Kentucky has displayed a noticeable rise in average state and local income taxes per tax return. Starting from $6,166.67 in 2012, taxes saw fluctuations, generally trending upward to reach $8,120.00 by 2021. This pattern suggests a rising tax burden for residents, potentially impacting the cost of living and economic attractiveness for new investments. Anyone considering a move or investment in this area should closely evaluate these financial trends.
Average Total Tax Liability Per Tax Return in Nicholas County, KY Over the Last 10 Years
Over the past decade, Nicholas County, Kentucky has seen fluctuating average total tax liabilities per tax return, with figures generally oscillating between approximately $4,214.07 and $5,350.65. Notably, the highest tax liability appeared in 2021, reaching $5,350.65, indicating potential economic shifts or policy changes. Such variability could suggest a transforming financial landscape, which may affect decisions for potential investors or those looking to relocate and build property in this area.
Cost of Living in Nicholas County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $910 | $1,259 | $1,752 | $1,056 | $1,001 |
| 1 adult 4 children | $910 | $1,028 | $1,339 | $1,056 | $1,031 |
| 2 adults 3 children | $910 | $1,028 | $1,520 | $1,056 | $820 |
| 1 adult 3 children | $910 | $839 | $1,108 | $1,056 | $812 |
| 2 adults 2 children | $742 | $842 | $1,288 | $916 | $746 |
| 1 adult 2 children | $742 | $629 | $876 | $916 | $648 |
| 2 adults 1 child | $742 | $665 | $1,057 | $461 | $707 |
| 1 adult 1 child | $742 | $430 | $644 | $461 | $589 |
| 2 adults | $564 | $534 | $825 | $0 | $608 |
| 1 adult | $538 | $292 | $412 | $0 | $520 |
Safety trends & Data
Nicholas County, Kentucky has had fluctuating property crime trends over the past five years. Burglary incidents peaked at four in 2018 and 2020 but fell to one by 2022, while larceny-theft reached five cases in 2019 and gradually declined to three by 2022. Emerging issues like motor vehicle theft and steady instances of vandalism indicate a mixed property crime landscape, which can impact investor confidence and residents' perception of... Read more
Property Crime Trends in Nicholas County, KY Over the Last 5 Years
Nicholas County, Kentucky has seen fluctuating property crime trends over the past five years, with burglary remaining a concern, peaking at four incidents in both 2018 and 2020, and dropping to one by 2022. Larceny-theft also varied, peaking at five incidents in 2019 before gradually decreasing to three by 2022. Emerging incidents like motor vehicle theft and consistent occurrences of vandalism suggest a mix of property crime issues. These trends are crucial for potential investors, residents, and real estate agents to consider when evaluating the safety and stability of the area.
Demographics
Nicholas County, Kentucky exhibits a balanced gender distribution among its adult population, with a slight predominance of males. The population primarily identifies as White, with minimal representation from other racial groups. Educational attainment levels suggest that a significant portion of residents have at least completed high school, though fewer have pursued higher education beyond an associate’s degree. The age distribution shows a substantial number of residents in their prime... Read more
Race Distribution in Nicholas County, Kentucky (2022)
Educational Attainment in Nicholas County, Kentucky (2022)
Age Distribution in Nicholas County, Kentucky
Citizen Population in Nicholas County, Kentucky (2022)
Political Trends & Data
Nicholas County, Kentucky, has shown a robust preference for the Republican Party, with an estimated 70% of the vote going to the GOP in the 2020 U.S. Presidential Election, while Democrats garnered just about 28%. This solid conservative base might shape local and state political strategies, potentially impacting policy decisions and development projects in the area. Given the negligible influence of Libertarians and other parties, political dynamics here are likely to remain... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Nicholas County, Kentucky, exhibited a significant leaning towards the Republican party in the 2020 U.S. Presidential Election, with Republicans possibly capturing over 70% of the vote. Democrats, on the other hand, accounted for just around 28%, indicating a potentially solid conservative base in the region. Libertarians and other parties appear to have had negligible influence on the county's electoral outcomes. This trend highlights the county's strong GOP support, which could influence local and state political strategies.
70.91% of voters voted for the Republican party in the 2020 Presidential Election
28.12% of voters voted for the Democrat party in the 2020 Presidential Election
0.80% of voters voted for the Livertarian party in the 2020 Presidential Election
0.18% of voters voted for the Other party in the 2020 Presidential Election
School Data
In Nicholas County, Kentucky, the student-to-teacher ratio has decreased from nearly 18 in 2014 to 16 in 2023, subtly above the national average. This trend toward smaller class sizes suggests potential improvements in local education quality, which might attract young families. For real estate professionals, lower student-to-teacher ratios often imply better school performance, making properties in the area more desirable. Appraisers and insurance agents could also find this data useful when... Read more
Student-to-teacher ratio in Nicholas County, Kentucky over the last 10 years
In Nicholas County, Kentucky, the student-to-teacher ratio has fluctuated over the last decade. In 2023, the ratio stands at 16 students per teacher, slightly above the national average of 14. This shift from a high of nearly 18 in 2014 suggests efforts to reduce class sizes. Such changes potentially impact the quality of education, making the area more appealing for young families considering a move. For real estate agents and prospective investors, these trends could signal an opportunity, as lower student-to-teacher ratios are often perceived as indicative of better school performance. Appraisers and insurance agents might also find this data useful when assessing property values and risks associated with educational amenities.
