Woodford County Real Estate and Livability Trends
Woodford County, Kentucky's real estate market has seen median home values skyrocket from $181,300 in 2015 to $259,100 in 2022, outpacing both state and national trends and hinting at strong demand and appreciating values. Concurrently, average real estate taxes increased notably to $4,257.89 in 2020, reflective of rising property values. Shifts in farm tax returns indicate a changing economic... Read more
Woodford County Market Trends
Woodford County, Kentucky, has seen a remarkable rise in median home values from $181,300 in 2015 to $259,100 in 2022, outpacing state and national trends. This ongoing growth might excite investors, signaling strong demand and appreciating values. Energy tax credits per tax return have fluctuated, peaking at $3,400.00 in 2018 before moderating, which may affect decisions on energy-efficient... Read more
Median Value of Occupied Housing Units in Woodford County, Kentucky Over the Last 8 Years
Woodford County, Kentucky, has experienced a consistent rise in median home values over the last eight years, increasing from $181,300 in 2015 to $259,100 in 2022. This area shows higher home values compared to the state's trend, where values grew from $123,200 to $177,000 in the same period. On a national level, the median value climbed from $125,500 to $179,400. This suggests that Woodford County might be an attractive investment spot, reflecting strong demand and potential for appreciation well above state and national averages.
Residential Energy Tax Credit Per Tax Return in Woodford County, KY Over the Last 9 Years
Investors, potential homeowners, and real estate professionals in Woodford County, Kentucky have observed notable fluctuations in the average residential energy tax credits per tax return over the past nine years. Values spiked dramatically in 2018 to $3400.00, reflecting potential large-scale energy-efficient home improvements or incentives. However, the more recent figures from 2020 and 2021, averaging around $1106.67 and $1515.79 respectively, likely signal ongoing but moderate adoption of energy-saving technologies. Such financial data points could influence decision-making for those considering property investments, energy-efficient upgrades, or market competitiveness in this region.
Average Real Estate Taxes Per Tax Return in Woodford County, KY Over the Last 10 Years
Over the past decade, Woodford County in Kentucky has seen a steady increase in average real estate taxes per tax return, jumping from $2,169.34 in 2012 to a peak of $4,257.89 in 2020. This upward trend reflects the growing value and demand for properties in the area, making it a noteworthy consideration for investors, potential homeowners, and real estate professionals. While the recent dip to $3,885.56 in 2021 suggests some volatility, the general pattern points to a robust and appreciating real estate market in Woodford County.
Percentage of Farm Returns in Woodford County, KY Over the Last 10 Years
In Woodford County, Kentucky, the percentage of farm tax returns has shown a slight decline over the last decade, dropping from approximately 5.72% in 2012 to around 4.59% in 2021. Farm tax returns indicate the proportion of tax filings specifically for agricultural operations, suggesting trends in the number of active farms and their economic viability. This gradual decrease could imply a shift in the local economy or changes in agricultural practices, which might be a consideration for those interested in investing in or moving to this largely rural area. These trends could be pivotal for developers, property buyers, and local residents when assessing the long-term viability of agricultural investments in the region.
Number of Mortgages by Occupancy Type in Woodford County, KY Over the Last 5 Years in Woodford County
Woodford County, Kentucky has seen a significant rise in the number of mortgages for principal residences over the last five years, escalating from 1,096 in 2018 to a peak of 2,160 in 2021. In contrast, the count for investment properties and second residences has remained relatively low and somewhat stable, with small upticks seen in 2019 and 2021. These shifts in occupancy types can influence local real estate dynamics; a higher percentage of primary residences may suggest growing community establishment and stability, potentially making it appealing for investors, developers, and new residents. For insurance agents and appraisers, this trend could signify a mature residential market, impacting risk assessments and property values. Real estate agents may find opportunities in tapping into the demand for primary homes, while developers and builders could consider the robust demand when planning new projects.
Economic Outlook
Woodford County, Kentucky has witnessed a significant rise in average taxable income per tax return, climbing from $56,666.15 in 2013 to $78,173.82 in 2021. This upward trend implies a robust local economy and could attract investors, new residents, and developers. Average state and local income taxes have also fluctuated, with peaks in 2018 ($11,698.99) and 2021 ($14,435.96), potentially pointing to a rising cost of living. Meanwhile, the average total tax liability per tax return remained... Read more
Average Taxable Income per Tax Return in Woodford County, KY over the last 9 years
Woodford County, Kentucky has seen a noticeable upward trend in average taxable income per tax return over the past nine years, from $56,666.15 in 2013 to $78,173.82 in 2021. This growth suggests a strengthening local economy, potentially attracting investors, new residents, and developers. Real estate agents and appraisers might find these trends useful for strategic planning and valuation. Insurance agents could also consider this data for risk assessment and pricing. The consistent rise in taxable income might hint at increasing property values and more affluent demographics.
Average State and Local Income Taxes Per Tax Return in Woodford County, KY Over the Last 10 Years
Over the past decade, Woodford County, Kentucky has seen fluctuations in average state and local income taxes per tax return. Particularly notable are the spikes in 2018 with $11,698.99 and 2020 reaching $12,189.47, culminating in a high of $14,435.96 in 2021. These increases could suggest a rising cost of living or enhanced local services, and may be an important factor for both potential investors and current residents to consider.
Average Total Tax Liability Per Tax Return in Woodford County, KY Over the Last 10 Years
Woodford County, Kentucky has seen a relatively consistent average total tax liability per tax return over the past decade, hovering mostly around the $10,000 to $11,000 mark. However, 2021 experienced a notable spike to $13,463.68. This recent increase might suggest changes in income levels or tax policies which could be significant for potential investors and residents. Understanding these fluctuations can be critical for making informed decisions about property investments and relocations in the area.
Cost of Living in Woodford County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,231 | $1,440 | $1,789 | $1,218 | $1,350 |
| 1 adult 4 children | $1,231 | $1,176 | $1,367 | $1,218 | $1,444 |
| 2 adults 3 children | $1,231 | $1,176 | $1,553 | $1,218 | $1,120 |
| 1 adult 3 children | $1,231 | $960 | $1,131 | $1,218 | $1,195 |
| 2 adults 2 children | $904 | $963 | $1,317 | $1,072 | $945 |
| 1 adult 2 children | $904 | $719 | $894 | $1,072 | $889 |
| 2 adults 1 child | $904 | $761 | $1,080 | $598 | $885 |
| 1 adult 1 child | $904 | $492 | $658 | $598 | $746 |
| 2 adults | $745 | $611 | $844 | $0 | $740 |
| 1 adult | $622 | $333 | $422 | $0 | $572 |
Safety trends & Data
Woodford County, Kentucky has shown relative stability in property crimes over the last five years, though larceny-theft, peaking at 23 reported cases in 2018, stands out. Burglary remains low and steady with annual fluctuations between two and four cases, while vandalism and stolen property reports show more variability. These trends could imply a focus on theft-related crimes and maintaining or improving public safety... Read more
Property Crime Trends in Woodford County, KY Over the Last 5 Years
Woodford County, Kentucky has experienced relatively stable trends in property crimes over the last five years, with notable fluctuations in specific categories. Larceny-theft consistently stands out as the most common offense, peaking at 23 reported cases in 2018, and showing a general decline thereafter. Burglary incidents have remained low and stable, fluctuating between two and four cases annually. Vandalism and stolen property reports have shown more variability, with observed spikes in certain years. For those interested in the area's safety, these trends may suggest a manageable yet pertinent focus on theft-related crimes and efforts towards maintaining or improving current public safety measures.
Demographics
Woodford County, Kentucky shows a slightly higher female population, with a notable gap between the numbers of men and women. Educational attainment levels reveal that nearly half of adults have achieved at least a bachelor's degree, indicative of a relatively educated populace. Age-wise, the county appears evenly distributed, though there seems to be a larger concentration in the middle-aged bracket, particularly those between 35 and 64 years. When it comes to racial diversity, the county is... Read more
Race Distribution in Woodford County, Kentucky (2022)
Educational Attainment in Woodford County, Kentucky (2022)
Age Distribution in Woodford County, Kentucky
Citizen Population in Woodford County, Kentucky (2022)
Political Trends & Data
In Woodford County, Kentucky, the 2020 U.S. Presidential Election results leaned towards a Republican preference, with Republicans securing around 55% of the vote, compared to Democrats' 43%. Libertarians and other parties had a minimal impact, accounting for roughly 1.6% of the vote share. This pattern suggests a strong two-party system with limited influence from third... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Woodford County, Kentucky, the 2020 U.S. Presidential Election results likely reflected a Republican preference, with approximately 55% of the votes, while Democrats captured around 43%. Libertarians gained about 1.6% of the vote share, with other parties contributing minimally. This distribution might indicate a predominantly two-party dynamic, with third-party influence remaining quite limited.
54.97% of voters voted for the Republican party in the 2020 Presidential Election
42.93% of voters voted for the Democrat party in the 2020 Presidential Election
1.56% of voters voted for the Livertarian party in the 2020 Presidential Election
0.54% of voters voted for the Other party in the 2020 Presidential Election
School Data
In Woodford County, Kentucky, the student-to-teacher ratio has seen fluctuations, spiking to nearly 18 students per teacher in 2020 and then dropping to about 14 in recent years. This trend might sway investment decisions, as lower ratios are sometimes linked to higher education quality, making the area more appealing for families. For real estate agents and potential movers, knowing that local schools have a ratio comparable to or better than the national average can boost the perceived value... Read more
Student-to-teacher ratio in Woodford County, Kentucky over the last 10 years
In Woodford County, Kentucky, the student-to-teacher ratio has fluctuated over the past decade, peaking at nearly 18 students per teacher in 2020 before declining to around 14 in more recent years. This trend may influence investment decisions, as lower student-to-teacher ratios can often signify a higher quality of education, potentially making the area more attractive for families. It also matters to real estate agents and those looking to move, since a favorable student-to-teacher ratio that is comparable to or better than the national average of 14 students per teacher often reflects positively on local schools and can enhance property values. For appraisers and insurance agents, understanding these educational trends is pertinent, as they can indirectly impact risk assessments and property evaluations.
