Shelby County Real Estate and Livability Trends
Shelby County, Kentucky's median home values have surged from $175,700 in 2015 to $247,500 in 2022, hinting at robust local demand and property value appreciation potential. Average taxable income rose from around $57,109.44 in 2013 to $80,561.68 by 2021, indicating improving economic conditions and potentially higher property affordability. However, average state and local income taxes also... Read more
Shelby County Market Trends
Shelby County, Kentucky's median home values have surged from $175,700 in 2015 to $247,500 in 2022, outpacing state and national trends, hinting at robust local demand and property value appreciation potential. Residential energy tax credits peaked dramatically at $3,500.00 in 2018, suggesting temporary incentives that might have spurred energy-efficient home improvements, impacting investment... Read more
Median Value of Occupied Housing Units in Shelby County, Kentucky Over the Last 8 Years
Shelby County, Kentucky has seen a considerable increase in median home values over the past eight years, climbing from $175,700 in 2015 to $247,500 in 2022. This local growth significantly outstrips state and national trends, with Kentucky’s median rising from $123,200 to $177,000, and the U.S. median increasing from $125,500 to $179,400 in the same period. For those eyeing real estate opportunities or considering a move, this sharper upward trajectory suggests strong local demand and potential for property value appreciation.
Residential Energy Tax Credit Per Tax Return in Shelby County, KY Over the Last 9 Years
The residential energy tax credit per tax return in Shelby County, Kentucky has fluctuated significantly over the last nine years, peaking at $3,500.00 in 2018 before dropping to more moderate levels. This variability can influence investment decisions, home improvement plans, and property valuations. Most notably, the spike in 2018 may suggest a temporary incentive or policy change that encouraged energy-efficient upgrades. For real estate and insurance professionals or potential investors, understanding these trends could be key to forecasting future market dynamics and advising clients accurately.
Average Real Estate Taxes Per Tax Return in Shelby County, KY Over the Last 10 Years
Shelby County, Kentucky has witnessed a notable rise in average real estate taxes per tax return over the past decade. Starting at $2,481.30 in 2012, taxes have consistently climbed, reaching $4,615.13 in 2021. The most significant jumps occurred from 2017 to 2018, where an increase of over $1,000 was observed, suggesting potential shifts in property value assessments or tax policies. This upward trend may signal increasing property values, impacting investment strategies, appraisals, and insurance costs for those interested in the local real estate market.
Percentage of Farm Returns in Shelby County, KY Over the Last 10 Years
In Shelby County, Kentucky, the percentage of farm tax returns has shown a gradual decline over the last decade. Starting at around 6.24% in 2012, they have slipped to approximately 4.77% by 2021. Farm tax returns, which reflect the number of farm-based income filings, can be a useful indicator of agricultural activity and economic health in the region. For investors and developers, this downward trend could signal changes in land use or economic focuses within the county, potentially impacting decisions on where to allocate resources or build new properties. For those considering a move, understanding shifts in the local economy is crucial for future planning.
Number of Mortgages by Occupancy Type in Shelby County, KY Over the Last 5 Years in Shelby County
Mortgage trends in Shelby County, Kentucky over the last five years show a varied landscape. Principal residences consistently dominate the mortgage counts, with peaks in 2020 (4,242) and a slight decline in 2022 (2,860). Investment properties show more stable numbers, around 87 to 122 yearly. Second residences maintain a low but steady presence, never exceeding 23. This reveals a strong inclination towards long-term homeownership over transient or additional properties. For investors, builders, and real estate agents, the steady investment property numbers and slight variations in second residences highlight a market with consistent demand for rental opportunities and primary homes despite economic shifts. Appraisers and insurance agents may find these occupancy shifts crucial for assessing property values and risk profiles accurately.
Economic Outlook
Shelby County, Kentucky has seen a significant rise in average taxable income per tax return over the past nine years, starting at around $57,109.44 in 2013 and hitting $80,561.68 by 2021. This suggests improving economic conditions and an increased ability for residents to afford higher property values. Concurrently, average state and local income taxes have jumped from about $7,574.70 in 2012 to $13,035.44 in 2021, potentially affecting disposable income. The average total tax liability per... Read more
Average Taxable Income per Tax Return in Shelby County, KY over the last 9 years
Shelby County, Kentucky has seen a notable upward trend in average taxable income per tax return over the past nine years. Starting at approximately $57,109.44 in 2013, the average taxable income has steadily increased, reaching $80,561.68 in 2021. Investors and real estate agents might find this data encouraging as it suggests potential economic growth and an increasing ability for residents to afford higher property values. Builders and insurance agents might also see this trend as an indicator of a stable and potentially lucrative market.
Average State and Local Income Taxes Per Tax Return in Shelby County, KY Over the Last 10 Years
Over the past decade, Shelby County, Kentucky has experienced a noticeable increase in average state and local income taxes per tax return, jumping from approximately $7,574.70 in 2012 to around $13,035.44 in 2021. This trend suggests that residents could be facing a higher tax burden, which might impact disposable income and cost of living. Despite the steady climb, the relative affordability compared to more urban areas may still make this county attractive for potential investors and new residents.
Average Total Tax Liability Per Tax Return in Shelby County, KY Over the Last 10 Years
The trend in Shelby County, Kentucky shows a notable increase in average total tax liability per tax return over the past decade. Beginning around $8,984.42 in 2012, the liability has nearly consistently risen, reaching $12,978.28 by 2021. This increase reflects either rising incomes, escalating property values, or a combination of both. For potential investors and residents, this may signal economic growth and an increase in the cost of living. It's essential to consider these factors when planning long-term financial commitments or business ventures in the area.
Cost of Living in Shelby County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,203 | $1,343 | $1,751 | $1,218 | $1,298 |
| 1 adult 4 children | $1,203 | $1,097 | $1,338 | $1,218 | $1,367 |
| 2 adults 3 children | $1,203 | $1,097 | $1,520 | $1,218 | $1,055 |
| 1 adult 3 children | $1,203 | $896 | $1,107 | $1,218 | $1,133 |
| 2 adults 2 children | $941 | $898 | $1,289 | $1,072 | $926 |
| 1 adult 2 children | $941 | $671 | $876 | $1,072 | $878 |
| 2 adults 1 child | $941 | $710 | $1,058 | $598 | $875 |
| 1 adult 1 child | $941 | $459 | $645 | $598 | $746 |
| 2 adults | $742 | $570 | $827 | $0 | $723 |
| 1 adult | $691 | $311 | $414 | $0 | $591 |
Safety trends & Data
Property crime trends in Shelby County, Kentucky, show interesting fluctuations over the past five years. Larceny-theft peaked at 66 incidents in 2019 but dropped to 35 by 2022, and burglary incidents decreased from 26 to 12 over the same period. While motor vehicle theft spiked to 13 cases in 2021, it generally remained low in other years. Notably, vandalism cases rose to 11 by 2022, while embezzlement and fraud remained low. These patterns might influence investment and living choices,... Read more
Property Crime Trends in Shelby County, KY Over the Last 5 Years
Property crime trends in Shelby County, Kentucky, indicate varying fluctuations over the past five years. Notably, cases of larceny-theft peaked at 66 incidents in 2019 but have since fallen to 35 by 2022. Burglary incidents saw a decline from 26 in 2019 to 12 in 2022. Motor vehicle thefts witnessed a spike in 2021 with 13 cases, but remained relatively low in other years. Embezzlement and fraud showed generally low activity, while vandalism increased significantly to 11 cases by 2022. These trends could inform investment and living decisions, particularly for those concerned with local crime rates.
Demographics
Shelby County, Kentucky, shows a slight female majority among its adult population. Educational attainment trends indicate a significant portion of the population has completed high school or pursued higher education, with a noticeable number holding bachelor's and higher degrees. The age distribution leans towards a balanced spread across various age groups, though there is a concentration around mid-30s to mid-60s. Racially, the county is predominantly White, with smaller representations of... Read more
Race Distribution in Shelby County, Kentucky (2022)
Educational Attainment in Shelby County, Kentucky (2022)
Age Distribution in Shelby County, Kentucky
Citizen Population in Shelby County, Kentucky (2022)
Political Trends & Data
Shelby County, Kentucky, exhibited a notable conservative leaning in the 2020 U.S. Presidential Election, with Republican candidates capturing the majority of the vote share. While Democrats secured a significant minority, suggesting potential growth areas, third-party votes, although marginal, indicated some interest in alternatives to the major parties. These voting behaviors may reflect underlying political dynamics and evolving voter priorities in the... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Shelby County, Kentucky, the 2020 U.S. Presidential Election results indicated that Republican candidates garnered a notable proportion of the vote share, potentially reflecting a consistent conservative leaning in the region. Democrats, though securing a significant minority, demonstrated a meaningful presence that could suggest potential areas of growth. Third-party votes, while marginal, hinted at a slight yet existing interest in alternatives to the two major parties. These voting patterns might offer insights into the county's political dynamics and changing voter priorities.
63.95% of voters voted for the Republican party in the 2020 Presidential Election
34.30% of voters voted for the Democrat party in the 2020 Presidential Election
1.28% 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
Shelby County, Kentucky has seen noticeable fluctuations in its student-to-teacher ratio over the past decade, peaking at approximately 23 students per teacher in 2018 before dropping to around 15 in 2021 and 2022. With the current ratio at 16, slightly above the national average of 14, these variations could influence parents' decisions to relocate, affecting real estate values and school funding. Real estate agents and appraisers should consider these trends, as perceived educational quality... Read more
Student-to-teacher ratio in Shelby County, Kentucky over the last 10 years
The student-to-teacher ratio in Shelby County, Kentucky has experienced noticeable fluctuations over the last decade, peaking at approximately 23 students per teacher in 2018 before dropping to around 15 in 2021 and 2022. Currently, the ratio stands at 16, which is slightly above the national average of 14 students per teacher. These variations can significantly influence the quality of education, potentially affecting parents’ decisions to move to the area, real estate values, and school funding. Investors and developers might see these trends as indicators of the county's commitment to maintaining smaller class sizes, which could be a selling point for families seeking quality education. Real estate agents and appraisers should consider these swings when advising clients since perceived educational quality can impact property values.
