Russell County Real Estate and Livability Trends
Median home values in Russell County, Kentucky, jumped from $88,000 in 2015 to $121,400 in 2022, indicating a more dynamic real estate market that could attract investors looking for growth. Rising real estate taxes, which hit $2,411.76 per tax return by 2021, hint at an evolving property market likely influenced by local policies. There's also an uptick in energy-efficient home renovations,... Read more
Russell County Market Trends
Russell County, Kentucky has seen its median home values soar from $88,000 in 2015 to $121,400 in 2022, outpacing the state and national growth rates and hinting at new investment potentials. The county's average residential energy tax credit experienced a sharp spike in 2021, jumping to $725.00 from $340.00, suggesting a growing trend in energy-efficient home improvements driven by rising energy... Read more
Median Value of Occupied Housing Units in Russell County, Kentucky Over the Last 8 Years
Russell County, Kentucky has shown a significant upward trend in its median home values over the last eight years, rising from $88,000 in 2015 to $121,400 in 2022. When compared to the state of Kentucky and the national figures, the county's home values remain lower but have demonstrated a rapid growth, especially in recent years. This upward movement, especially the steep increases since 2019, could indicate a potential hotspot for investment opportunities in the area. Despite starting lower than both state and national averages, the region's accelerated growth might attract those looking for emerging markets with a promising appreciation trajectory.
Residential Energy Tax Credit Per Tax Return in Russell County, KY Over the Last 7 Years
Russell County, Kentucky has seen considerable variability in the average residential energy tax credit per tax return over the last seven years. Notably, 2021 experienced a substantial spike, jumping to $725.00 from $340.00 in 2020. This general trend suggests increased homeowner investment in energy-efficient improvements, potentially influenced by rising energy costs or incentives. This may present opportunities for real estate investors, appraisers, and insurance agents to reassess property values and insurance premiums in the area. Additionally, builders and those in the property market might consider focusing on energy-efficient homes to align with a growing local demand.
Average Real Estate Taxes Per Tax Return in Russell County, KY Over the Last 10 Years
Over the last decade, Russell County, Kentucky, has seen a notable rise in average real estate taxes per tax return, jumping from around $1,353.57 in 2012 to approximately $2,411.76 by 2021. This increase was particularly sharp between 2017 and 2018, where taxes surged from about $1,564.71 to $2,186.36. It might suggest an evolving local property market or changes in tax policies, offering potential opportunities and considerations for investors, real estate professionals, and homeowners.
Percentage of Farm Returns in Russell County, KY Over the Last 10 Years
Over the last decade, the percentage of farm returns in Russell County, Kentucky has shown a gradual decline from approximately 11.32% in 2012 to around 9.20% in 2021. Farm tax returns indicate the proportion of tax filings that are from farms, reflecting the economic weight and viability of agricultural activities in the region. This downward trend might suggest a shift away from farming or changes in the agricultural economy that could impact investment decisions, property development, and living conditions in the area. This data should be of interest to potential investors, developers, and residents considering the evolving economic landscape in Russell County.
Number of Mortgages by Occupancy Type in Russell County, KY Over the Last 5 Years in Russell County
Changes in the number of mortgages by occupancy type in Russell County, Kentucky, suggest a possible shift in housing dynamics over the last five years. Notably, there's a fluctuating trend in mortgages for principal residences, with substantial peaks and drops that could give investors insights into periods of housing demand or instability. Investment properties and second residences show steadier but lower numbers, which might indicate more stable, long-term investment opportunities. For real estate agents, understanding these trends can aid in targeting the right demographic, while for those looking to move, it offers a glimpse into potential community changes and property availability. Insurance agents, appraisers, and builders can also use this data to better assess risk, property value shifts, and where new structures may be needed.
Economic Outlook
In Russell County, Kentucky, the average taxable income per tax return has steadily increased over the past nine years, climbing from about $36,735.32 in 2013 to around $49,711.28 in 2021. This suggests possible economic growth and more disposable income, factors that could draw the interest of potential investors and real estate professionals. Additionally, average state and local income taxes have risen, especially since 2018, peaking at $9,594.44 in 2021. This rise could reflect higher... Read more
Average Taxable Income per Tax Return in Russell County, KY over the last 9 years
Over the past nine years, Russell County, Kentucky has seen a steady increase in average taxable income per tax return, rising from approximately $36,735.32 in 2013 to an estimated $49,711.28 in 2021. This uptrend could indicate economic growth and potentially greater disposable income among residents, offering appealing insights for prospective investors, real estate agents, and property developers considering the local market. The higher income levels may also influence property appraisals and insurance premiums, making it a relevant detail for appraisers and insurance agents.
Average State and Local Income Taxes Per Tax Return in Russell County, KY Over the Last 10 Years
Over the last decade, Russell County, Kentucky has seen a notable increase in the average state and local income taxes per tax return. In earlier years, from 2012 to 2017, the amounts fluctuated around $5,900.00 to $6,200.00. However, starting in 2018, there was a sharp climb, peaking at $9,594.44 in 2021. This trend could indicate rising incomes, changes in tax rates, or both, and may be of particular interest to potential investors or new residents evaluating the fiscal climate.
Average Total Tax Liability Per Tax Return in Russell County, KY Over the Last 10 Years
Over the past decade, Russell County, Kentucky has shown a somewhat fluctuating but generally upward trend in average total tax liability per tax return, peaking significantly in recent years. By 2021, this figure surged to $6,601.63, marking a notable increase from $5,123.21 in 2012. Such changes could imply economic growth or rising incomes in the area, factors that are potentially attractive to investors, new residents, and developers looking to capitalize on an evolving market. However, it's also worth considering how this uptrend might impact the financial landscape for current residents.
Cost of Living in Russell County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $949 | $1,287 | $1,820 | $1,056 | $1,055 |
| 1 adult 4 children | $949 | $1,051 | $1,392 | $1,056 | $1,087 |
| 2 adults 3 children | $949 | $1,051 | $1,579 | $1,056 | $858 |
| 1 adult 3 children | $949 | $858 | $1,151 | $1,056 | $857 |
| 2 adults 2 children | $742 | $861 | $1,338 | $916 | $767 |
| 1 adult 2 children | $742 | $643 | $910 | $916 | $667 |
| 2 adults 1 child | $742 | $680 | $1,097 | $461 | $724 |
| 1 adult 1 child | $742 | $439 | $669 | $461 | $600 |
| 2 adults | $564 | $546 | $856 | $0 | $622 |
| 1 adult | $538 | $298 | $428 | $0 | $529 |
Safety trends & Data
Russell County, Kentucky, has experienced a sharp decline in property crimes over the past five years. Burglary incidents dropped from 16.0 in 2019 to just 1.0 in 2022, while larceny-theft cases fell from 23.0 in 2019 to 2.0 in 2022. Even though embezzlement and fraud have stayed low, continued vigilance is crucial for property investors and those assessing insurance policies. These improving safety trends could influence potential buyers and investors in the... Read more
Property Crime Trends in Russell County, KY Over the Last 5 Years
Russell County, Kentucky has seen a noticeable decline in property crimes over the past five years. Burglary incidents dropped significantly from 16.0 in 2019 to just 1.0 in 2022, and larceny-theft cases decreased from a high of 23.0 in 2019 to 2.0 in 2022. Embezzlement and fraud have remained relatively low throughout the period. Despite the reductions, vigilance remains essential, especially for those considering property investments or evaluating insurance policies. These trends suggest an improving safety profile, which could be a factor for potential buyers and investors in the area.
Demographics
In Russell County, Kentucky, educational attainment reveals that the majority of the population has at least a high school diploma, but fewer pursue higher education. The age distribution shows a spread across all age groups, with a notably smaller proportion of young adults. Racial diversity appears limited, with a predominant White population at 16,876, while Black or African American residents number just 194. A slightly higher count of females (7,018) compared to males (6,714) might also... Read more
Race Distribution in Russell County, Kentucky (2022)
Educational Attainment in Russell County, Kentucky (2022)
Age Distribution in Russell County, Kentucky
Citizen Population in Russell County, Kentucky (2022)
Political Trends & Data
Russell County, Kentucky, showed strong Republican support in the 2020 U.S. Presidential Election, with nearly 84% of the vote leaning towards this party. Democrats accounted for about 15%, and other parties had minimal impact. This trend suggests a prevailing Republican influence that could shape local political decisions and policy... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Russell County, Kentucky, showed substantial leanings towards the Republican party in the 2020 U.S. Presidential Election, capturing close to 84% of the vote. Democrats garnered around 15%, while support for Libertarians and other parties remained marginal. This pattern suggests a strong Republican presence, which could influence local political dynamics and policymaking.
83.97% of voters voted for the Republican party in the 2020 Presidential Election
14.87% of voters voted for the Democrat party in the 2020 Presidential Election
0.94% of voters voted for the Livertarian party in the 2020 Presidential Election
0.22% of voters voted for the Other party in the 2020 Presidential Election
School Data
Russell County, Kentucky has seen its student-to-teacher ratio trend downward over the past decade, moving from roughly 17 students per teacher in 2014 to around 15 in 2023. Given the national average is 14, this shift suggests improving educational support and attention, potentially boosting property values and influencing investment decisions. This trend might also affect perceptions of community quality, which could be a key consideration for insurance agents and... Read more
Student-to-teacher ratio in Russell County, Kentucky over the last 10 years
The student-to-teacher ratio in Russell County, Kentucky has generally been higher than the national average of fourteen over the past decade. Starting at approximately 17 students per teacher in 2014, the ratio has fluctuated but recently showed a downward trend, approaching closer to the national average with about 15 students per teacher in 2023. For potential investors, real estate agents, and families considering a move, this decreasing ratio signals a positive shift towards potentially enhanced educational attention and support for students, which could be a favorable factor in property value assessments and decisions. It also might influence insurance agents and appraisers by affecting perceived community quality and stability.
