Washington County Real Estate and Livability Trends
Washington County, Kentucky has experienced a notable increase in average taxable income, going from $40,516.57 in 2013 to $55,996.03 in 2021, suggesting a strengthening local economy that could attract real estate investment. Median home values surged from $98,100 in 2015 to $158,700 in 2022, reflecting a faster growth compared to the state median. Meanwhile, the rising real estate taxes and... Read more
Washington County Market Trends
Washington County, Kentucky, has seen a sharp rise in median home values, jumping from $98,100 in 2015 to $158,700 in 2022. This marks a swifter growth compared to the state's median home value increase to $177,000. The residential energy tax credit values have fluctuated, with significant peaks and troughs over the years, suggesting shifts in policy or technology adoption. Average real estate... Read more
Median Value of Occupied Housing Units in Washington County, Kentucky Over the Last 8 Years
Over the past eight years, Washington County, Kentucky has experienced a significant climb in median home values, with the 2022 figure landing at $158,700, a notable jump from $98,100 in 2015. This comparatively faster growth outpaces Kentucky's overall median home value, which reached $177,000 in 2022, up from $123,200 in 2015, and is particularly striking when set against the national median, which increased from $125,500 to $179,400 in the same period. For investors, this upward trend suggests a potentially lucrative market, while prospective homeowners could find Washington County a more affordable yet appreciating alternative within the state.
Residential Energy Tax Credit Per Tax Return in Washington County, KY Over the Last 8 Years
Over the past eight years in Washington County, Kentucky, the average residential energy tax credit per tax return has seen noticeable fluctuations. Peaks occurred in 2013 with an average of $518.18, a dip in 2014 to $270.00, and a significant rise in 2019 to $860.00. The latest data from 2021 shows a rebound to $650.00. These ups and downs might interest those considering energy-efficient investments, indicating potential shifts in policy incentives or local adoption rates for energy-saving technologies.
Average Real Estate Taxes Per Tax Return in Washington County, KY Over the Last 10 Years
Washington County, Kentucky has experienced a notable increase in average real estate taxes per tax return over the past decade. Starting at approximately $1,275.76 in 2012, taxes have more than doubled, reaching around $2,307.14 by 2021. The sharpest uptick occurred between 2017 and 2018, where taxes jumped from about $1,556.57 to $2,088.24. This trend could suggest increasing property values or changes in local tax policies, potentially impacting investment strategies and cost-of-living considerations. Those involved in property appraisals, real estate, or community planning might find these insights particularly relevant.
Percentage of Farm Returns in Washington County, KY Over the Last 10 Years
Over the last decade, Washington County, Kentucky has seen a fluctuating yet generally declining trend in the percentage of farm returns. Starting from nearly 18.76% in 2012, the figures slightly rose to 18.91% in 2013, peaking early on and then steadily decreasing to around 15.38% by 2020, with a minor uptick to 15.99% in 2021. This trend could suggest a possible shift in the agricultural landscape or economic conditions affecting farm profitability. Farm tax returns represent the financial filings that farmers submit to report income, expenses, and other financial data related to their farming operations. For investors or property developers, these trends might signal changing dynamics in local agriculture, potentially impacting land value, local economy, and investment opportunities. For residents and those interested in moving to the area, understanding these figures can provide insights into the county's agricultural health and economic shifts over time.
Number of Mortgages by Occupancy Type in Washington County, KY Over the Last 5 Years in Washington County
Washington County, Kentucky, shows a noticeable shift in mortgage distribution by occupancy type over the past five years. The number of mortgages for principal residences sees a general upward trend, peaking at 503 in 2020 but remaining high at 398 in 2022. Investment properties and second residences remain relatively low but display some increase, with investment property mortgages reaching 17 in 2022 compared to just four in 2018. These changes may be indicators of evolving housing preferences, potentially driving property values and influencing both market demand and policy decisions. For investors and developers, understanding these trends is crucial for making informed decisions, while real estate agents and appraisers can tailor their strategies to best serve the interests and needs of their clients.
Economic Outlook
Washington County, Kentucky has seen a steady rise in average taxable income per tax return over the past nine years, climbing from $40,516.57 in 2013 to $55,996.03 in 2021. This growth pattern suggests a robust local economy, potentially enticing for real estate investors and new property developments. Coupled with the steady increase in state and local income taxes, peaking at $9,560.00 in 2021, there might be a growing economic activity but also a higher tax burden. Additionally, the average... Read more
Average Taxable Income per Tax Return in Washington County, KY over the last 9 years
Washington County, Kentucky, has experienced a consistent upward trend in average taxable income per tax return over the last nine years. Starting from $40,516.57 in 2013, the average taxable income has gradually increased, reaching $55,996.03 in 2021. Notable growth years include 2015 and 2017, with incremental increases seen almost year-on-year. This pattern may indicate a robust economic environment potentially beneficial for real estate investments, new property developments, and financial planning. However, potential investors and stakeholders should account for potential fluctuations and underlying factors driving these changes.
Average State and Local Income Taxes Per Tax Return in Washington County, KY Over the Last 10 Years
Over the last decade, Washington County, Kentucky has observed a consistent upward trend in average state and local income taxes per tax return, with notable spikes in recent years. From a modest $5,113.86 in 2012, the averages increased steadily, reaching $9,560.00 by 2021. The most significant jumps occurred between 2017 and 2019, suggesting economic shifts or policy changes during that period. For potential investors and residents, this trend might indicate a growing local economy but also possibly higher tax burdens in the future, which could impact decisions regarding property investments and relocations.
Average Total Tax Liability Per Tax Return in Washington County, KY Over the Last 10 Years
In Washington County, Kentucky, the average total tax liability per tax return has seen a notable increase over the past decade. Starting at $4,847.95 in 2012, it experienced ups and downs but generally trended upwards, reaching $7,230.70 in 2021. Significant jumps, particularly in 2015 and 2017, could reflect underlying economic changes or shifts in local income patterns. This trend may suggest a growing local economy, albeit with variations, which could be of interest to potential investors, new residents, or those looking to build property in the area.
Cost of Living in Washington County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $944 | $1,307 | $1,714 | $1,012 | $1,038 |
| 1 adult 4 children | $944 | $1,067 | $1,310 | $1,012 | $1,105 |
| 2 adults 3 children | $944 | $1,068 | $1,488 | $1,012 | $867 |
| 1 adult 3 children | $944 | $872 | $1,084 | $1,012 | $851 |
| 2 adults 2 children | $776 | $874 | $1,261 | $878 | $775 |
| 1 adult 2 children | $776 | $653 | $857 | $878 | $686 |
| 2 adults 1 child | $776 | $691 | $1,034 | $442 | $740 |
| 1 adult 1 child | $776 | $446 | $630 | $442 | $622 |
| 2 adults | $590 | $555 | $808 | $0 | $642 |
| 1 adult | $563 | $303 | $404 | $0 | $551 |
Safety trends & Data
Over the past five years, Washington County, Kentucky has witnessed fluctuating property crime rates, with burglary incidents peaking at 8 cases in 2018 but dropping to a low of 2 cases in 2022. Stolen property crimes reached a high of 13 incidents in 2020, indicating potential concerns about property security. While larceny-theft rates have remained consistently low, sporadic occurrences of embezzlement and fraud could impact investment decisions, appraiser evaluations, and insurance costs.... Read more
Property Crime Trends in Washington County, KY Over the Last 5 Years
Over the past five years, Washington County, Kentucky has seen fluctuations in property crime rates. Burglary incidents peaked in 2018 with 8 cases but have since declined, hitting a low of 2 cases in 2022. Meanwhile, there’s been a notable increase in crimes involving stolen property, peaking at 13 incidents in 2020, suggesting a growing concern for property security. Larceny-theft rates have remained relatively low and stable, while other crimes like embezzlement and fraud show sporadic occurrences. These patterns may influence both residential and commercial investments, appraiser evaluations, and insurance premiums in the area, offering critical insights for stakeholders.
Demographics
Washington County, Kentucky’s adult demographic reveals a slight female majority.The educational attainment distribution shows a considerable portion of the population holding a high school diploma or less, suggesting potential workforce development opportunities. Age-wise, there's a notable concentration in the 45 to 64 age bracket, potentially impacting future healthcare services and retirement resources. The overwhelmingly white racial composition highlights a lack of diversity that could... Read more
Race Distribution in Washington County, Kentucky (2022)
Educational Attainment in Washington County, Kentucky (2022)
Age Distribution in Washington County, Kentucky
Citizen Population in Washington County, Kentucky (2022)
Political Trends & Data
In Washington County, Kentucky, the real estate market could be influenced by the area's heavy Republican lean, with approximately 72% of votes potentially going to the GOP in the 2020 U.S. Presidential Election. This political landscape might suggest a community with conservative values, possibly affecting local housing policies, types of development, and buyer preferences. The notable gap, with Democrats potentially receiving around 26% of the vote, hints at a significant partisan divide that... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Washington County, Kentucky, the 2020 U.S. Presidential Election leaned heavily Republican, with around 72% of the votes potentially going to the GOP. Democrats appeared to garner roughly 26% of the vote, indicating a significant gap between the two major parties. Minor parties like the Libertarians and others seemed to have a minimal impact, possibly reflecting the strong two-party preference in the area.
72.02% of voters voted for the Republican party in the 2020 Presidential Election
26.42% of voters voted for the Democrat party in the 2020 Presidential Election
1.16% 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
Washington County, Kentucky's student-to-teacher ratio has shown considerable fluctuations over the past decade, peaking at 21 in 2020, often surpassing the national average of 14 students per teacher. This may suggest crowded classrooms and potential understaffing issues, which could impact educational quality and property values. Such trends could be pivotal for investors, families considering a move, and professionals like appraisers and insurance agents who assess risk and growth potential... Read more
Student-to-teacher ratio in Washington County, Kentucky over the last 10 years
The student-to-teacher ratio in Washington County, Kentucky has displayed noticeable fluctuations over the past decade, peaking at 21 in 2020 and showing significant variability year over year. Compared to the national average of 14 students per teacher, Washington County has often exceeded this figure, which could indicate crowded classrooms and potential impacts on educational quality. Such trends may be telling for those considering investment in the area or families looking to move in; higher ratios can signify understaffing issues in schools, affecting property values and the attractiveness of the region. For appraisers and insurance agents, understanding these shifts could be crucial for assessing risk and potential for growth.
