Rowan County Real Estate and Livability Trends
In Rowan County, Kentucky, average taxable income jumped from $42,191.34 in 2013 to $52,795.07 in 2021, pointing to possible economic growth and influences like policy changes. While median home values increased from $115,300 in 2015 to $149,900 in 2022, they still lag behind state and national figures, offering potential affordability for investors. The average residential energy tax credit... Read more
Rowan County Market Trends
Rowan County, Kentucky's median home values rose from $115,300 in 2015 to $149,900 in 2022, outpacing local averages but still trailing behind state ($177,000) and national ($179,400) figures. This slower appreciation might represent investment potential for those seeking affordability. Remarkably, the county's average residential energy tax credit surged from $266.67 in 2013 to $1,442.86 by... Read more
Median Value of Occupied Housing Units in Rowan County, Kentucky Over the Last 8 Years
Rowan County, Kentucky's median home values have shown a consistent upward trajectory over the last eight years, from $115,300 in 2015 to $149,900 in 2022. While these figures illustrate positive local growth, they generally lag behind both state and national median values for occupied housing units, which reached $177,000 and $179,400, respectively, by 2022. This slower appreciation rate in Rowan County may signal potential investment opportunities, particularly for those seeking more affordable options in a rising market compared to the higher costs seen statewide and across the U.S.
Residential Energy Tax Credit Per Tax Return in Rowan County, KY Over the Last 8 Years
Rowan County, Kentucky, has seen a notable increase in the average residential energy tax credit per tax return over the last eight years. Starting at approximately $266.67 in 2013, it jumped sharply to $1,442.86 by 2021. This upward trend may suggest growing investments in energy-efficient home improvements or the adoption of renewable energy solutions by homeowners, which could be enticing for those looking to invest or move to the area. Real estate agents and insurance agents might find this data useful when discussing the value of energy-efficient homes. For appraisers and those looking to build property, these trends could signify a market leaning towards sustainability and energy efficiency, impacting property appraisals and construction planning.
Average Real Estate Taxes Per Tax Return in Rowan County, KY Over the Last 10 Years
Rowan County, Kentucky has seen a notable upward trend in its real estate taxes over the past decade, with significant spikes around 2018 and 2020. Taxes on average have increased from $1,495.51 in 2012 to a peak of $2,654.17 in 2020. Investors and homeowners should be aware of these rising costs, as they could impact both the affordability of properties and long-term investment returns in the area. This data might also interest real estate agents and appraisers when evaluating property values and market trends.
Percentage of Farm Returns in Rowan County, KY Over the Last 10 Years
Farm tax returns in Rowan County, Kentucky have generally been on a downward trend over the past decade, declining from approximately 5.14% in 2012 to around 3.54% in 2021. This could indicate a potential decrease in farming activity or changes in the agricultural sector's profitability within the county. Understanding these trends is crucial for potential investors, property developers, and residents, as it may affect property values, local economy stability, and available agricultural opportunities.
Number of Mortgages by Occupancy Type in Rowan County, KY Over the Last 5 Years in Rowan County
Rowan County, Kentucky has seen a general increase in mortgages for principal residences from 2018 to 2021, reflecting possibly stronger local demand for primary housing. There was a notable drop in 2022, which could hint at market saturation or broader economic influences. Investment property mortgages also showed volatility, peaking in 2020 and then declining, which might signal varying investor confidence or opportunities in the area. Second residence mortgages remained relatively low, suggesting this isn't a primary market for vacation or secondary homes. These trends are critical for investors, real estate agents, and appraisers to gauge market health and potential returns. Insurers and potential homeowners alike should consider these shifts when planning future coverage or relocations.
Economic Outlook
In Rowan County, Kentucky, average taxable income per tax return has risen consistently from $42,191.34 in 2013 to $52,795.07 in 2021, suggesting a gradually strengthening local economy. This upward trend, punctuated by significant jumps in 2017 and 2021, hints at possible economic booms or impactful policy changes. Coupled with the doubling of state and local income taxes from $5,968.32 in 2012 to $11,375.00 in 2021, there's a perceptible increase in the fiscal environment, which potential... Read more
Average Taxable Income per Tax Return in Rowan County, KY over the last 9 years
Over the past nine years, average taxable income per tax return in Rowan County, Kentucky has shown a consistent upward trend, increasing from $42,191.34 in 2013 to $52,795.07 in 2021. This growth, despite minor fluctuations, suggests a steadily strengthening local economy. The average taxable income saw notable jumps in 2017 and 2021, indicating potential economic booms or policy changes impacting residents' incomes. This data could be crucial for investors, property developers, and real estate agents as it points to a gradually increasing affluence, potentially driving demand for housing and other services.
Average State and Local Income Taxes Per Tax Return in Rowan County, KY Over the Last 10 Years
Over the past decade, average state and local income taxes per tax return in Rowan County, Kentucky have shown a noticeable increase, nearly doubling from 2012's $5,968.32 to 2021's $11,375.00. The steady rise with a significant jump in 2018 suggests a growing fiscal environment, which could be a critical factor for potential investors and new residents to consider. This trend may impact disposable income and overall cost of living, making it essential for prospective property developers and residents to evaluate these tax implications when planning their financials.
Average Total Tax Liability Per Tax Return in Rowan County, KY Over the Last 10 Years
In Rowan County, Kentucky, the average total tax liability per tax return has shown an upward trend over the past decade. Starting at approximately $5,742.49 in 2012, it increased to around $7,174.39 in 2021. There were fluctuations along the way, but the general pattern suggests a steady rise. This trend may indicate growing income levels or changes in taxation policies, factors investors, potential property buyers, and current residents might find noteworthy.
Cost of Living in Rowan County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $965 | $1,279 | $1,612 | $1,113 | $981 |
| 1 adult 4 children | $965 | $1,044 | $1,231 | $1,113 | $1,015 |
| 2 adults 3 children | $965 | $1,045 | $1,399 | $1,113 | $808 |
| 1 adult 3 children | $965 | $853 | $1,019 | $1,113 | $806 |
| 2 adults 2 children | $770 | $855 | $1,187 | $967 | $728 |
| 1 adult 2 children | $770 | $639 | $806 | $967 | $637 |
| 2 adults 1 child | $770 | $676 | $974 | $493 | $691 |
| 1 adult 1 child | $770 | $437 | $593 | $493 | $581 |
| 2 adults | $634 | $543 | $761 | $0 | $605 |
| 1 adult | $558 | $296 | $381 | $0 | $510 |
Safety trends & Data
Rowan County, Kentucky, has seen significant changes in property crime trends over the past five years. Larceny-theft hit a peak of 71.00 cases in 2018 but has notably dropped to 13.00 in 2022. Burglary instances have also declined steadily, from 24.00 in 2018 to just 3.00 in 2022. However, fraud incidents, after a decrease, have risen back to 15.00 in 2022. These shifts, indicating potential impacts from improved security measures or law enforcement, are key for investors, property developers,... Read more
Property Crime Trends in Rowan County, KY Over the Last 5 Years
Rowan County, Kentucky, has witnessed a noticeable fluctuation in property crime trends over the past five years. Larceny-theft, the most common offense, peaked at 71.0 cases in 2018 but has since shown a significant decline to 13.0 in 2022. Meanwhile, burglary cases have consistently diminished, from 24.0 in 2018 to just 3.0 in 2022, potentially indicating enhanced security measures or effective law enforcement efforts. Interestingly, fraud incidents, after seeing a dip, increased again to 15.0 in 2022. Such trends could signify evolving criminal behavior patterns and risk factors, which are crucial for potential investors, property developers, and current residents.
Demographics
Rowan County, Kentucky, exhibits slight gender balance with more females than males in the adult population. The educational landscape hints that most residents have at least a high school diploma, though relatively few hold graduate degrees. Age-wise, the county skews younger, particularly with a notable cohort in the 20 to 24 age bracket, possibly due to college presence. The racial composition is overwhelmingly White, with small but present Black and Asian communities. These trends suggest a... Read more
Race Distribution in Rowan County, Kentucky (2022)
Educational Attainment in Rowan County, Kentucky (2022)
Age Distribution in Rowan County, Kentucky
Citizen Population in Rowan County, Kentucky (2022)
Political Trends & Data
Rowan County, Kentucky, has shown a marked Republican preference, with nearly 60% of the 2020 U.S. Presidential votes going to the GOP. Democrats managed close to 39%, indicating a significant but secondary influence, while Libertarians and other minor parties barely registered. This pattern suggests the area's political landscape is heavily influenced by Republican leanings in what remains a largely two-party competitive... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Rowan County, Kentucky leaned Republican in the 2020 U.S. Presidential Election, with nearly 60% of the vote, while Democrats garnered close to 39%. Libertarians held a minor presence with about 1.4%, and other minor parties collectively received less than 1%. This suggests a strong Republican inclination in a predominantly two-party contest.
59.59% of voters voted for the Republican party in the 2020 Presidential Election
38.58% of voters voted for the Democrat party in the 2020 Presidential Election
1.36% 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
The student-to-teacher ratio in Rowan County, Kentucky has fluctuated between 17 in 2020 and 14 in 2022, staying above the national average of 14 students per teacher. This variability could signal potential classroom overcrowding, a factor that might influence real estate decisions for families, investors, and developers. For insurance agents and appraisers, these trends may affect assessments of local school quality, impacting property values and market... Read more
Student-to-teacher ratio in Rowan County, Kentucky over the last 10 years
The student-to-teacher ratio in Rowan County, Kentucky has fluctuated over the past decade, peaking at around 17 in 2020 and dipping as low as 14 in 2022. This variation still places Rowan County above the national average of about 14 students per teacher, suggesting potential concerns about classroom overcrowding. For investors, developers, and real estate agents, such data could inform decisions on the attractiveness of the area for families. Insurance agents and appraisers may also use these trends to gauge the quality of local schools, which can affect property value and marketability. For current residents or those considering a move, these ratios may provide insight into the educational environment their children might experience.
