Wayne County Real Estate and Livability Trends
Wayne County, Kentucky has seen encouraging economic indicators, with average taxable income per tax return rising from $33,119.23 in 2013 to $43,680.08 in 2021, hinting at economic growth and appeal for investors. The median home values surged by 40% over eight years to $112,800 in 2022, offering a relatively lower entry point compared to state and national medians. The student-to-teacher ratio... Read more
Wayne County Market Trends
Median home values in Wayne County, Kentucky have surged by 40% over eight years, reaching $112,800 in 2022. This rise offers a lower entry point than the state and national median values, suggesting potential investment growth. Residential energy tax credits also show promising trends, peaking at $800.00, indicating increased homeowner investment in energy efficiency. The upward trend in real... Read more
Median Value of Occupied Housing Units in Wayne County, Kentucky Over the Last 8 Years
Median home values in Wayne County, Kentucky have seen a sharp increase over the last eight years, rising from $80,300 in 2015 to $112,800 in 2022. This 40% increase in home values may suggest growing interest or investment potential in Wayne County. Comparably, Kentucky’s median values rose to $177,000 while nationally, the figure reached $179,400 in 2022. Investors and potential homeowners might find Wayne County's growth rates particularly compelling as it offers a lower entry point compared to state and national averages yet shows strong upward trends.
Residential Energy Tax Credit Per Tax Return in Wayne County, KY Over the Last 8 Years
Wayne County, Kentucky has shown fluctuating but generally increasing trends in residential energy tax credits over the past eight years. The average credit per tax return reached as high as $800.00 in both 2019 and 2021, suggesting local policies and homeowner investments in energy-efficient improvements may be paying off. This notable increase since 2013, when the average was $277.78, is potentially attractive for those in real estate, investment, and property development, as it hints at a growing awareness and adoption of energy-efficient practices among homeowners.
Average Real Estate Taxes Per Tax Return in Wayne County, KY Over the Last 10 Years
In Wayne County, Kentucky, the average real estate taxes per tax return have shown a general upward trend over the past decade. The figures have increased from around $1,264.29 in 2012 to a high of approximately $2,455.56 in 2020, though they slightly dipped to $2,233.33 in 2021. This consistent rise in real estate taxes could suggest a growing property value in the area, making it potentially attractive for investors, but also hinting at higher costs for homeowners and builders. This trend might be significant for real estate agents and insurance agents, highlighting a need for updated property evaluations and possibly affecting insurance premiums.
Percentage of Farm Returns in Wayne County, KY Over the Last 10 Years
Over the last decade in Wayne County, Kentucky, the percentage of farm tax returns generally hovered around 9%, showing subtle fluctuations with slight downward trends. In 2012, the figure was close to 9.70% and saw minor dips and rises over the years, reaching around 8.42% in 2021. Farm tax returns, a significant indicator of agricultural activity and economic health in rural areas, suggest possible stability yet slight contraction in farming robustness, which might influence decisions for those considering agricultural investments, property developments, or relocation to the region.
Number of Mortgages by Occupancy Type in Wayne County, KY Over the Last 5 Years in Wayne County
Observation in Wayne County, Kentucky suggests a notable consistency in investment property mortgages, which hover around the mid-50s except for a slight dip in 2021. Principal residence mortgages, however, show fluctuating engagements with a peak in 2021 at 635, possibly reflecting increased migrations or refinancing activities. Second residence mortgages slightly dipped toward the end of the period, which might hint at changing preferences or economic uncertainties affecting discretionary or luxury purchases. For investors, these patterns can indicate stability in rental markets but a volatile primary residence market – key for risk assessment and opportunity appraisal. Understanding these nuances provides appraisers, insurance agents, and real estate professionals with insights into evolving market dynamics, ensuring informed decisions for strategic planning.
Economic Outlook
Wayne County, Kentucky has seen a positive trend in average taxable income per tax return over the past nine years, climbing from roughly $33,119.23 in 2013 to about $43,680.08 in 2021. This could hint at economic growth, making the area more appealing to investors and homebuyers. Meanwhile, average state and local income taxes have nearly doubled from $5,201.23 in 2012 to around $10,300.00 in 2020, a notable jump likely reflecting changing economic conditions or policy shifts. The variable... Read more
Average Taxable Income per Tax Return in Wayne County, KY over the last 9 years
Wayne County, Kentucky has shown a generally positive trend in average taxable income per tax return over the past nine years, rising from around $33,119.23 in 2013 to approximately $43,680.08 in 2021. This gradual increase could be indicative of economic growth in the area, potentially making the county more attractive to investors, real estate developers, and prospective residents. For appraisers and insurance agents, understanding this trend is crucial as it may correlate with property valuations and risk assessments. Real estate agents might also find this information useful for pitching the county's improving economic landscape to potential buyers.
Average State and Local Income Taxes Per Tax Return in Wayne County, KY Over the Last 10 Years
Wayne County, Kentucky has seen a significant increase in average state and local income taxes per tax return over the last decade, rising from approximately $5,201.23 in 2012 to around $10,300.00 in 2020. This upward trend, especially the sharp jump between 2018 and 2020, could suggest changing economic conditions or policy shifts in the region. For those eyeing investments or considering relocation, these tax dynamics might impact long-term financial planning and cost of living.
Average Total Tax Liability Per Tax Return in Wayne County, KY Over the Last 10 Years
Wayne County, Kentucky has seen a fluctuating trend in average total tax liability per tax return over the past decade, with 2012 starting at $4,322.13 and 2021 reaching a high of $5,202.81. While there were slight declines around 2013 and 2018, the general uptick signals increasing economic activity, potentially driven by rising incomes or changing tax policies. For potential investors and residents, these shifts might suggest an evolving financial landscape, where understanding tax liabilities could play a crucial role in long-term planning.
Cost of Living in Wayne County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,055 | $1,287 | $1,820 | $1,056 | $1,114 |
| 1 adult 4 children | $1,055 | $1,051 | $1,392 | $1,056 | $1,154 |
| 2 adults 3 children | $1,055 | $1,051 | $1,579 | $1,056 | $902 |
| 1 adult 3 children | $1,055 | $858 | $1,151 | $1,056 | $917 |
| 2 adults 2 children | $742 | $861 | $1,338 | $916 | $771 |
| 1 adult 2 children | $742 | $643 | $910 | $916 | $671 |
| 2 adults 1 child | $742 | $680 | $1,097 | $461 | $727 |
| 1 adult 1 child | $742 | $439 | $669 | $461 | $601 |
| 2 adults | $577 | $546 | $856 | $0 | $627 |
| 1 adult | $538 | $298 | $428 | $0 | $525 |
Safety trends & Data
Wayne County, Kentucky has experienced notable fluctuations in property crimes over the past five years. Larceny-theft nearly tripled in 2019 with 33 reported cases but has steadily declined since. Burglary incidents have shown a minor decrease from 16 cases in 2020 to 8 in 2022. There's also been an uptick in possession of stolen property, peaking at 6 cases in 2020. These trends might impact insurance premiums and property values, making them worth considering for prospective investors or... Read more
Property Crime Trends in Wayne County, KY Over the Last 5 Years
Wayne County, Kentucky has seen noticeable fluctuations in property crimes over the past five years. Larceny-theft was particularly high in 2019 with 33 reported cases, almost tripling from the previous year, but has since seen a steady decline. Burglary incidents remain relatively consistent but show a minor decrease from 16 cases in 2020 to 8 in 2022. Interestingly, there's been a rise in the possession of stolen property peaking at 6 cases in 2020. For those considering an investment or living in the area, it's valuable to note the dynamics in property crimes which can have implications on insurance premiums and property values.
Demographics
Wayne County, Kentucky's adult population shows a slight female majority. Educational attainment trends indicate over half are high school graduates, while a smaller segment has pursued higher education. The age distribution suggests a sizable portion of the population is in the 35 to 64 age range, possibly indicating a stable working-age demographic. Racially, the county is predominantly White, with very small percentages representing other racial groups. These insights might inform targeted... Read more
Race Distribution in Wayne County, Kentucky (2022)
Educational Attainment in Wayne County, Kentucky (2022)
Age Distribution in Wayne County, Kentucky
Citizen Population in Wayne County, Kentucky (2022)
Political Trends & Data
Wayne County, Kentucky appears to have leaned heavily Republican in the 2020 Presidential Election, with over 80% of the vote possibly going to the Republican Party and under 19% to the Democratic Party. Minor parties, like the Libertarians, likely garnered minimal support, indicating a strong preference for major parties and a predominantly conservative voter base. This trend might suggest that any real estate developments or campaigns in Wayne County would benefit from aligning with... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Wayne County in Kentucky appeared to lean heavily Republican in the 2020 U.S. Presidential Election, with over 80% of the vote potentially going to the Republican Party. The Democratic Party, in contrast, may have secured just under 19% of the vote. Minor parties like the Libertarians and others seemed to garner only minimal support, indicating a strong preference for the major parties. This kind of voting pattern could suggest a predominantly conservative voter base in the county.
80.41% of voters voted for the Republican party in the 2020 Presidential Election
18.40% of voters voted for the Democrat party in the 2020 Presidential Election
0.75% of voters voted for the Livertarian party in the 2020 Presidential Election
0.44% of voters voted for the Other party in the 2020 Presidential Election
School Data
Wayne County, Kentucky's student-to-teacher ratio has varied from 10 to 14.77 over the past decade, consistently staying at or below the national average of around 14 students per teacher. This trend suggests potentially smaller class sizes, which may provide a more personalized educational experience. This could be an important consideration for families thinking about moving, investors assessing educational quality, and real estate agents promoting community... Read more
Student-to-teacher ratio in Wayne County, Kentucky over the last 10 years
Wayne County, Kentucky has seen fluctuations in its student-to-teacher ratio over the past decade, with numbers trending as low as 10 and as high as 14.77 students per teacher. Notably, these figures are consistently at or below the national average of approximately 14 students per teacher, suggesting potentially smaller class sizes, which may contribute to a more focused and personalized educational experience. Such dynamics could be particularly relevant for families considering relocation, investors evaluating the area's educational standards, and real estate professionals highlighting community benefits.
