Simpson County Real Estate and Livability Trends
Simpson County, Kentucky, has observed a significant boost in its average taxable income per tax return, from $41,338.27 in 2013 to $53,645.90 in 2021, possibly indicating a strengthening local economy or rising wages. Median home values surged from $116,800 in 2015 to $178,600 in 2022, reflecting state and national trends. A notable rise in residential energy tax credits and real estate taxes... Read more
Simpson County Market Trends
Simpson County, Kentucky has seen a notable rise in median home values from $116,800 in 2015 to $178,600 in 2022, closely paralleling state and national trends. The uptick in residential energy tax credits, jumping from $250.00 in 2019 to $666.67 in 2021, highlights increasing investments in energy-efficient home improvements. Additionally, real estate taxes saw a significant climb, peaking at... Read more
Median Value of Occupied Housing Units in Simpson County, Kentucky Over the Last 8 Years
Over the past eight years, Simpson County, Kentucky has experienced a steady increase in median home values, with a surge from $116,800 in 2015 to $178,600 in 2022. This trend mirrors the broader growth seen at the state level, with Kentucky's median values climbing from $123,200 to $177,000 in the same period. Interestingly, Simpson County's rise also aligns closely with the national trend, where median values jumped from $125,500 to $179,400. This consistent growth suggests a robust and appealing market for potential homebuyers and investors in Simpson County, particularly when considering its alignment with wider economic patterns in both Kentucky and the United States.
Residential Energy Tax Credit Per Tax Return in Simpson County, KY Over the Last 8 Years
Simpson County, Kentucky has experienced fluctuations in residential energy tax credits per tax return over the past eight years. Notably, there was a dip to $250.00 in 2019, but by 2021, the average surged to $666.67, reflecting a significant increase. This upward trend could imply greater investments in energy-efficient home improvements or a potential increase in energy conservation incentives. Prospective investors, real estate agents, and appraisers might find this trend indicative of a growing market for energy-efficient properties, which could affect property values and insurance assessments.
Average Real Estate Taxes Per Tax Return in Simpson County, KY Over the Last 10 Years
Over the past decade, Simpson County, Kentucky has seen a notable upward trend in average real estate taxes per tax return. Starting at around $1,270.19 in 2012, it has generally increased, peaking at approximately $2,715.38 in 2020 before a slight dip to $2,507.41 in 2021. For investors, real estate agents, and appraisers, this suggests rising property values and potentially increased demand, but also signals higher holding costs. Builders and insurance agents might also need to consider this trend when evaluating the overall financial landscape and market stability in Simpson County.
Percentage of Farm Returns in Simpson County, KY Over the Last 10 Years
Over the last decade, the percentage of farm tax returns in Simpson County, Kentucky has shown a decline, starting at approximately 5.99% in 2012 and dropping to around 4.23% in 2021. These returns represent the proportion of local residents who generate income from agriculture and file it accordingly. This trend could indicate shifting economic dynamics, impacting decisions for those considering agricultural investments or property development in the area.
Number of Mortgages by Occupancy Type in Simpson County, KY Over the Last 5 Years in Simpson County
Over the past five years in Simpson County, Kentucky, there's been a noticeable increase in the number of mortgages for principal residences, peaking at 1,377 in 2021. Investment properties and second residences have seen far lower and less consistent numbers, with investment property mortgages fluctuating around the mid double digits and second residences barely crossing into double digits. These shifts in occupancy types can signal changing economic conditions and housing demands. A rising trend in principal residences might suggest a growing population or increased stability in the local job market, enticing investors, builders, and real estate agents to focus more on residential development. Conversely, the relatively static numbers for investment and second homes may imply limited appeal for non-primary residential investments, which could influence appraisals and insurance premiums in distinct ways.
Economic Outlook
Average taxable income per tax return grew from $41,338.27 in 2013 to $53,645.90 in 2021 in Simpson County, Kentucky, hinting at a more robust local economy or rising wages. State and local income taxes rose from $5,119.33 in 2012 to $8,950.00 in 2021, with key bumps in 2016 and 2018. Total tax liability per return also climbed to $7,322.84 in 2021, reflecting increased economic activity or income levels. These trends suggest a stable financial environment, potentially lucrative for real estate... Read more
Average Taxable Income per Tax Return in Simpson County, KY over the last 9 years
Simpson County, Kentucky has experienced a steady increase in average taxable income per tax return over the past nine years, growing from around $41,338.27 in 2013 to approximately $53,645.90 in 2021. These figures may reflect a strengthening local economy or rising wages, making it a potentially appealing area for investors and real estate agents. For those considering building properties or moving to the area, this upward trajectory in income could suggest a stable financial landscape and promising market conditions.
Average State and Local Income Taxes Per Tax Return in Simpson County, KY Over the Last 10 Years
Over the last decade, Simpson County, Kentucky has seen a steady rise in average state and local income taxes per tax return, increasing from $5,119.33 in 2012 to $8,950.00 in 2021. Of particular note, there was a substantial jump in the tax values between 2015 and 2016, and again in 2018, when the average tax amount exceeded $7,800. These trends might indicate a growing economic base or changes in tax policies, both of which are crucial for individuals and businesses considering investments, relocations, or new developments in the area.
Average Total Tax Liability Per Tax Return in Simpson County, KY Over the Last 10 Years
Average total tax liability per tax return in Simpson County, Kentucky has generally increased over the past decade, with 2021 showing a significant rise to $7,322.84 from the $5,395.37 observed in 2012. Notable fluctuations occurred around 2017, with a dip in 2018 to approximately $5,954.66, potentially indicating economic changes or policy shifts. Higher recent tax liabilities might reflect increased economic activity or higher incomes, which could be crucial for investors and residents assessing the financial landscape.
Cost of Living in Simpson County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,165 | $1,404 | $1,820 | $1,012 | $1,185 |
| 1 adult 4 children | $1,165 | $1,146 | $1,392 | $1,012 | $1,254 |
| 2 adults 3 children | $1,165 | $1,147 | $1,579 | $1,012 | $970 |
| 1 adult 3 children | $1,165 | $936 | $1,151 | $1,012 | $985 |
| 2 adults 2 children | $869 | $939 | $1,338 | $878 | $824 |
| 1 adult 2 children | $869 | $701 | $910 | $878 | $732 |
| 2 adults 1 child | $869 | $742 | $1,097 | $442 | $780 |
| 1 adult 1 child | $869 | $479 | $669 | $442 | $649 |
| 2 adults | $660 | $596 | $856 | $0 | $667 |
| 1 adult | $630 | $325 | $428 | $0 | $563 |
Safety trends & Data
Property crime trends in Simpson County, Kentucky, reveal a significant peak in 2018, especially for larceny-theft at 145 incidents. Recent years show a notable decline in most property crimes, with a minor uptick in 2022. Burglary cases dropped substantially by 2020 but marginally increased by 2022. While larceny-theft and motor vehicle theft have decreased overall, they still pose potential risks. This gradually improving crime environment suggests a potentially appealing time for property... Read more
Property Crime Trends in Simpson County, KY Over the Last 5 Years
Simpson County, Kentucky, has seen fluctuating property crime rates over the past five years, with a significant peak in 2018, particularly for larceny-theft at 145 incidents. Recent years, however, show a notable decline in most property crimes, except for a slight uptick in 2022. Burglary cases dropped substantially by 2020 but saw a minor increase again by 2022. Larceny-theft and motor vehicle theft have decreased overall but still present potential risks. This data suggests a gradually improving crime environment, making it a potentially appealing time for property investments, though awareness and caution remain advisable.
Demographics
Simpson County, Kentucky shows a nearly even split between male and female populations, indicating balanced gender demographics. The age distribution suggests a relatively young population with significant numbers under 35 years, implying potential for growth in the workforce. Educational attainment reveals a high percentage achieving at least a high school diploma, but fewer advancing to higher education degrees. The race distribution is predominantly White, with smaller yet present Black or... Read more
Race Distribution in Simpson County, Kentucky (2022)
Educational Attainment in Simpson County, Kentucky (2022)
Age Distribution in Simpson County, Kentucky
Citizen Population in Simpson County, Kentucky (2022)
Political Trends & Data
In Simpson County, Kentucky, the 2020 U.S. Presidential Election results reveal a strong Republican leaning with about 67% supporting the GOP candidate. Democrats garnered roughly 31%, and Libertarians barely made a dent at just under 1.5%. This strong two-party preference suggests the local political climate could heavily influence housing policies, taxes, and community development... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Simpson County, Kentucky, the 2020 U.S. Presidential Election saw a notable majority of the electorate favoring the Republican candidate with approximately 67% of the vote. Democrats received around 31%, while support for the Libertarian party was minimal, just under 1.5%. Votes for other parties were negligible, suggesting a strong two-party preference among voters in this region. This trend could hint at broader political dynamics and local priorities within the county.
67.43% of voters voted for the Republican party in the 2020 Presidential Election
30.70% of voters voted for the Democrat party in the 2020 Presidential Election
1.47% of voters voted for the Livertarian party in the 2020 Presidential Election
0.40% of voters voted for the Other party in the 2020 Presidential Election
School Data
Over the last decade, Simpson County, Kentucky, saw its student-to-teacher ratio peak at 22 students per teacher in 2019 and 2020, far exceeding the national average of 14. This suggests overcrowded classrooms and strained educational resources, which might be a concern for families considering relocation. However, developers and investors might see opportunities to address the need for more educational infrastructure, influencing real estate valuations and demand in the... Read more
Student-to-teacher ratio in Simpson County, Kentucky over the last 10 years
Over the last decade, Simpson County, Kentucky, has experienced fluctuations in its student-to-teacher ratio. Notably, the ratio sharply increased in 2019 and 2020, reaching peaks of 22 students per teacher, well above the national average of 14. These elevated ratios may indicate potential issues with overcrowded classrooms and strained educational resources, affecting the quality of education. Families considering relocation could find these trends concerning, while investors and developers might see opportunities in addressing the need for more educational infrastructure. Real estate agents and appraisers should also factor in these educational dynamics when valuing properties in the area.
