Wolfe County Real Estate and Livability Trends
Wolfe County, Kentucky presents intriguing real estate trends with median home values fluctuating from $52,700 in 2015 to $62,200 in 2022, remaining significantly lower than state and national levels, indicating affordable investment opportunities. The area has seen average taxable income per tax return rise from $32,286.55 in 2013 to $40,913.62 in 2021, and a notable increase in local taxes,... Read more
Wolfe County Market Trends
Wolfe County, Kentucky, showcases intriguing real estate trends, contrasting starkly with state and national growth. Median home values, fluctuating from $52,700 in 2015 to $62,200 in 2022, remain markedly lower than both state and national levels, hinting at affordable investment opportunities. Notably, the rise in residential energy tax credits – from $150.00 in 2013 to $350.00 by 2016 –... Read more
Median Value of Occupied Housing Units in Wolfe County, Kentucky Over the Last 8 Years
Over the last eight years, median home values in Wolfe County, Kentucky, have remained significantly lower than both state and national levels. While Kentucky saw a climb from $123,200 in 2015 to $177,000 in 2022, and the national figures surged from $125,500 to an impressive $179,400 over the same period, Wolfe County's figures depict an inconsistent pattern, fluctuating from $52,700 in 2015 to $62,200 in 2022. This disparity highlights the potential for affordable investment opportunities in Wolfe County, especially for those looking to capitalize on lower entry points in a market that hasn't mirrored the broader growth trends.
Residential Energy Tax Credit Per Tax Return in Wolfe County, KY Over the Last 4 Years
Wolfe County, Kentucky has seen a noticeable increase in the average residential energy tax credit per tax return over the past four years, climbing from $150.00 in 2013 to $350.00 by 2016. This upward trend could suggest a growing investment in energy-efficient home improvements within the area. For potential investors or builders, this indicates a local market that values sustainability—possibly reflecting broader community interests in lowering energy costs and enhancing property values. Real estate agents and insurance providers might find these insights useful for tailoring their services and advice to meet the evolving demands of Wolfe County residents.
Average Real Estate Taxes Per Tax Return in Wolfe County, KY Over the Last 7 Years
Real estate taxes per tax return in Wolfe County, Kentucky have shown a noticeable increase over the past seven years. Starting at approximately $869.57 in 2012, there was a dip to around $831.82 in 2013, followed by gradual increases reaching about $920.00 by 2017. The most significant jump seems to be between 2017 and 2021, where taxes soared to around $1,350.00. This trend might suggest potential for escalating property costs or municipal budget adjustments, which could impact appraisals, insurance premiums, and investment considerations. For those involved in real estate or considering relocation, this shift indicates a changing economic environment in Wolfe County.
Percentage of Farm Returns in Wolfe County, KY Over the Last 10 Years
The percentage of farm tax returns in Wolfe County, Kentucky has consistently ranged between 10.60% and 14.29% over the last decade, showing some fluctuations with a slight overall decrease. Farm tax returns indicate the portion of total tax returns that come from agricultural operations, often highlighting the significance of farming to the local economy. Investors, potential homeowners, and developers should consider that agriculture remains a notable, though somewhat declining, economic activity in the area, potentially affecting land use priorities and property values. The trend might suggest a gradual shift away from farming or changes in the local agricultural economy.
Number of Mortgages by Occupancy Type in Wolfe County, KY Over the Last 5 Years in Wolfe County
Wolfe County, Kentucky has seen a notable shift in mortgage types over the past five years, highlighting an increase in principal residence purchases, peaking at 165 in 2022 from 118 in 2018. This suggests greater local stability and homeownership interest. Investment properties also saw a rise, albeit modest, climbing from 9 in 2018 to 24 in 2022, which could indicate growing investor confidence. Second residences remained relatively stable, with minor fluctuations. Such changes may impact property values, influence market dynamics, and guide investment decisions, making this data crucial for real estate stakeholders, appraisers, and insurance professionals.
Economic Outlook
Wolfe County, Kentucky has seen a gradual increase in average taxable income per tax return from $32,286.55 in 2013 to $40,913.62 by 2021, suggesting a potentially positive economic trend. The notable rise in average state and local income taxes, jumping from $4,792.31 in 2012 to $9,700.00 in 2021, alongside fluctuations in total tax liability, indicates economic changes that might influence real estate dynamics and cost of living. These trends could attract real estate investors, appraisers,... Read more
Average Taxable Income per Tax Return in Wolfe County, KY over the last 9 years
Wolfe County, Kentucky has shown a gradual increase in the average taxable income per tax return over the past nine years, suggesting a potentially positive economic trend for the region. Starting from $32,286.55 in 2013, the average taxable income has risen to $40,913.62 by 2021. This upward trend might attract real estate investors, appraisers, and insurance agents, as increasing incomes can correlate with rising property values and demand for housing developments. Potential movers and those building property might find this trend indicative of a growing, potentially more affluent community.
Average State and Local Income Taxes Per Tax Return in Wolfe County, KY Over the Last 7 Years
Wolfe County, Kentucky has seen notable increases in average state and local income taxes per tax return over the last seven years, with a dramatic rise from $4,792.31 in 2012 to $9,700.00 in 2021. This upward trend could influence decisions for potential investors or residents considering the cost of living. The spike in 2021 might be signaling significant economic changes, potentially impacting financial planning for those looking to move to or invest in the area.
Average Total Tax Liability Per Tax Return in Wolfe County, KY Over the Last 10 Years
Wolfe County, Kentucky, has seen a generally upward trend in its average total tax liability per tax return over the past decade, peaking at $4,532.75 in 2021. Notable fluctuations around 2014 and 2019 suggest periodic economic or policy influences. This information might be crucial for potential investors and residents to gauge fiscal stability and predict future tax liabilities.
Cost of Living in Wolfe County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $903 | $1,279 | $1,722 | $1,113 | $1,001 |
| 1 adult 4 children | $903 | $1,044 | $1,317 | $1,113 | $1,031 |
| 2 adults 3 children | $903 | $1,045 | $1,495 | $1,113 | $819 |
| 1 adult 3 children | $903 | $853 | $1,089 | $1,113 | $809 |
| 2 adults 2 children | $742 | $855 | $1,267 | $967 | $744 |
| 1 adult 2 children | $742 | $639 | $861 | $967 | $642 |
| 2 adults 1 child | $742 | $676 | $1,039 | $493 | $697 |
| 1 adult 1 child | $742 | $437 | $633 | $493 | $575 |
| 2 adults | $593 | $543 | $811 | $0 | $598 |
| 1 adult | $538 | $296 | $406 | $0 | $494 |
Safety trends & Data
Wolfe County, Kentucky, has generally low property crime rates, although burglary incidents spiked slightly in 2020 with five reports. Motor vehicle theft is infrequent yet consistent, appearing mainly in 2018 and 2019. Larceny-theft and stolen property offenses vary but stay low overall, hinting at a stable environment. This information could suggest a relatively low-crime area for investors and real estate professionals, with some caution around burglary... Read more
Property Crime Trends in Wolfe County, KY Over the Last 5 Years
Wolfe County, Kentucky, appears to have relatively low property crime rates, with some fluctuation over the last five years. Notably, 2020 saw a slight spike in burglary cases, with five incidents reported. Motor vehicle theft remains infrequent, but consistent over the years, with incidents recorded in 2018 and 2019. Larceny-theft and stolen property offenses also show variability but generally maintain low occurrences, suggesting a potential stability in property-related crimes. For potential investors and real estate professionals, this data might indicate a relatively stable, low-crime environment, but with attention needed on burglary trends.
Demographics
Wolfe County, Kentucky shows an almost even split between male and female adults, balancing demographics for potential community initiatives. Educational attainment remains a challenge, with a significant portion of the population lacking a high school diploma, indicating areas for educational improvement and adult education programs. Age distribution reflects a predominantly aging population, with a notable concentration in the 55-64 range, hinting at future healthcare and retirement community... Read more
Race Distribution in Wolfe County, Kentucky (2022)
Educational Attainment in Wolfe County, Kentucky (2022)
Age Distribution in Wolfe County, Kentucky
Citizen Population in Wolfe County, Kentucky (2022)
Political Trends & Data
Wolfe County, Kentucky showcased a solid Republican leaning in the 2020 Presidential election, with roughly 70% of the vote going GOP. Democrats captured around 28%, suggesting a considerable gap between the major parties. Third-party candidates drew a minor yet noticeable share, hinting at some alternative political preferences in the area. This voting pattern may indicate future electoral trends in the... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Wolfe County, Kentucky exhibited a strong Republican preference in the 2020 U.S. Presidential election, with an estimated 70% of votes leaning toward the GOP. Democrats accounted for about 28% of the vote share, indicating a significant gap between the two major parties. Third-party candidates, including Libertarians and others, garnered a minimal but notable portion of the vote, reflecting a slight presence of alternative political preferences. This distribution may hint at the county's political inclinations and potential voting patterns in future elections.
70.39% of voters voted for the Republican party in the 2020 Presidential Election
28.16% of voters voted for the Democrat party in the 2020 Presidential Election
0.70% of voters voted for the Livertarian party in the 2020 Presidential Election
0.74% of voters voted for the Other party in the 2020 Presidential Election
School Data
Wolfe County, Kentucky has seen a notable reduction in its student-to-teacher ratio, dropping from around the national average of 14 students per teacher to as low as 11 in recent years. This trend could signal a shrinking student population or increased teacher recruitment, making the area appealing to families looking for more individualized attention in education. For real estate investors and builders, this can indicate a potentially enhanced educational environment that might attract new... Read more
Student-to-teacher ratio in Wolfe County, Kentucky over the last 10 years
Over the past decade, Wolfe County, Kentucky has seen fluctuations in its student-to-teacher ratio, generally trending toward a reduction. While ratios hovered around the national average of 14 students per teacher from 2014 to 2021, significant drops were noted in 2022 and 2023, with ratios reaching as low as 11 students per teacher. For potential investors, builders, real estate agents, and insurance agents, these changes could indicate smaller class sizes, possibly reflecting either a shrinking student population or an increase in teacher recruitment. This may appeal to families seeking more individualized attention for their children, suggesting a potentially enhanced educational environment in Wolfe County.
