Kennebec County Real Estate and Livability Trends
Kennebec County, Maine has seen average taxable income grow from $48,497.04 in 2013 to $70,288.88 in 2021, indicating an economy that could attract investors and elevate housing market values. Real estate taxes have climbed from $3,020 in 2012 to $4,826 in 2021, likely reflecting increased property values but also suggesting higher ongoing tax expenses. Median home values have risen from $170,100... Read more
Kennebec County Market Trends
Kennebec County, Maine has experienced a marked increase in median home values, surging from $170,100 in 2021 to $198,300 in 2022, making it a more affordable yet increasingly desirable market compared to the state’s median of $244,800. The average residential energy tax credit per tax return saw a significant peak of $2,444.44 in 2018, indicating potential investment opportunities in... Read more
Median Value of Occupied Housing Units in Kennebec County, Maine Over the Last 8 Years
Over the last eight years, the median home values in Kennebec County, Maine have shown a steady upward trend, culminating in a sharp rise from $170,100 in 2021 to $198,300 in 2022. This pattern suggests a growing demand in the area, especially when compared to Maine’s overall median home value of $244,800 in 2022 and the national median of $179,400. For investors and potential homeowners, Kennebec County offers a more affordable entry point compared to the state average, yet still reflects the broader upward market trend. This could indicate a ripe opportunity for investment before prices potentially catch up with state levels.
Residential Energy Tax Credit Per Tax Return in Kennebec County, ME Over the Last 9 Years
Over the past nine years in Kennebec County, Maine, the average residential energy tax credit per tax return has shown significant fluctuations. Starting at approximately $296.71 in 2013, there has been a notable increase, peaking dramatically at $2,444.44 in 2018. This spike suggests potential incentives or increased investments in residential energy improvements during that period. Although the values dipped subsequently, they remained relatively high compared to earlier years, stabilizing around $793.55 in 2021. This trend could be of interest to those considering energy-efficient upgrades, as historical data indicates substantial credits might be obtainable.
Average Real Estate Taxes Per Tax Return in Kennebec County, ME Over the Last 10 Years
Over the past decade, Kennebec County, Maine has seen a relatively steady increase in average real estate taxes per tax return, rising from around $3,020 in 2012 to about $4,826 in 2021. Notably, there was a significant jump between 2017 and 2018, suggesting a possible change in tax policy or property values during that period. For potential investors or those considering a move, these trends might imply escalating property values, which could be appealing for investment but might also mean higher ongoing tax expenses. Appraisers and real estate agents should note these increasing tax burdens when evaluating properties in the area, while insurance agents might also consider these figures for risk assessment and policy pricing.
Percentage of Farm Returns in Kennebec County, ME Over the Last 10 Years
The percentage of farm tax returns in Kennebec County, Maine, has varied slightly over the last decade. In 2012, it was about 0.66%, and it showed a gradual increase, peaking at around 0.69% in 2015. However, there was a noticeable drop to approximately 0.61% in 2019, but it rebounded a bit to about 0.62% in 2021. Farm tax returns indicate how many tax filings in the area are directly related to farm income. This is potentially a sign of the agricultural sector's relative stability or decline, which could influence investment decisions, property values, and local economic health. For those interested in moving to or investing in Kennebec County, these trends might suggest a modest but resilient farming community.
Number of Mortgages by Occupancy Type in Kennebec County, ME Over the Last 5 Years in Kennebec County
Kennebec County, Maine has seen significant fluctuations in mortgage activity for various occupancy types over the last five years. Principal residences have consistently led the pack, but notable dips in 2022 might make investors and homebuyers cautious. Investment property mortgages showed a similar decline after peaking in 2021, suggesting a cooling interest. Second residences remain a small segment but follow the overall trend, hinting at a broader market shift. These changes in occupancy type signal shifts in demand and highlight evolving investment strategies and local living conditions, essential for anyone considering property transactions in the county.
Economic Outlook
Kennebec County, Maine has seen average taxable income rise from $48,497.04 in 2013 to $70,288.88 in 2021, suggesting a robust economic environment that could attract investors and potentially boost housing market values. Average state and local income taxes per tax return have also increased significantly from $5,876.97 in 2012 to $15,483.57 by 2021, possibly indicating rising incomes or changes in tax policies. Additionally, the average total tax liability per tax return has risen from... Read more
Average Taxable Income per Tax Return in Kennebec County, ME over the last 9 years
Over the past nine years, Kennebec County, Maine has exhibited a notable increase in average taxable income per tax return, growing from $48,497.04 in 2013 to $70,288.88 in 2021. This upward trend indicates a possibly robust economic environment which could attract potential investors. Such growth may suggest higher disposable incomes, potentially boosting the housing market values and demand. Real estate agents might find this data encouraging for setting property prices, while appraisers and insurance agents may need to consider these financial improvements in their evaluations. For those looking to build or develop property, the increasing income levels could indicate a promising market.
Average State and Local Income Taxes Per Tax Return in Kennebec County, ME Over the Last 10 Years
Over the past decade, Kennebec County, Maine has witnessed a significant upward trend in average state and local income taxes per tax return. Starting from $5,876.97 in 2012, there has been a noticeable increase, reaching as high as $15,483.57 by 2021. This sharp rise, especially post-2017, with averages jumping from $6,891.53 in 2017 to $9,118.04 in 2018 and further doubling to $15,483.57 in 2021, could indicate a combination of rising incomes and possibly higher state and local tax rates or adjustments in tax policies. For investors, property developers, or potential movers, this trend might suggest a growing economic base, yet with a potentially higher tax burden over time.
Average Total Tax Liability Per Tax Return in Kennebec County, ME Over the Last 10 Years
Kennebec County, Maine has experienced a consistent rise in average total tax liability per tax return over the last decade, with a notable escalation over recent years. Starting from approximately $6,546.08 in 2012, the average liability saw a steady increase, peaking significantly at $10,031.19 in 2021. This trend suggests that the tax burden for residents has been gradually increasing, potentially indicating rising incomes or changes in tax policy. For property investors and real estate agents, this could reflect a potential increase in property values and cost of living, while insurance agents may need to consider higher property valuations in their coverage assessments.
Cost of Living in Kennebec County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,203 | $1,617 | $1,911 | $1,255 | $1,268 |
| 1 adult 4 children | $1,203 | $1,320 | $1,459 | $1,255 | $1,400 |
| 2 adults 3 children | $1,203 | $1,321 | $1,659 | $1,255 | $1,000 |
| 1 adult 3 children | $1,203 | $1,078 | $1,207 | $1,255 | $1,108 |
| 2 adults 2 children | $971 | $1,081 | $1,407 | $1,113 | $853 |
| 1 adult 2 children | $971 | $808 | $955 | $1,113 | $837 |
| 2 adults 1 child | $971 | $854 | $1,156 | $652 | $805 |
| 1 adult 1 child | $971 | $552 | $704 | $652 | $676 |
| 2 adults | $759 | $686 | $904 | $0 | $624 |
| 1 adult | $754 | $374 | $452 | $0 | $578 |
Safety trends & Data
Kennebec County, Maine's property crime landscape has seen notable shifts over the past five years. Larceny-Theft cases consistently lead, with 504 to 663 incidents annually. Burglary incidents spiked to 110 in 2020 but dropped to 65 in 2021, before rising again to 90 in 2022. Vandalism cases hover around 150, while Motor Vehicle Theft remains steady between 24 to 41 incidents. Fraud cases dropped from a peak of 112 in 2019 to 62 in 2021, slightly increasing to 65 in 2022. Embezzlement and... Read more
Property Crime Trends in Kennebec County, ME Over the Last 5 Years
Kennebec County, Maine has seen some fluctuations in property crimes over the past five years. The total number of Larceny-Theft cases consistently remains the highest among all categories, ranging from 504 to 663 incidents annually. Burglary incidents spiked to 110 in 2020 but saw a notable drop in 2021 to 65, before climbing again to 90 in 2022. Cases of Vandalism have shown minor variability but generally hover around 150, while Motor Vehicle Theft has stayed relatively steady, fluctuating between 24 to 41 incidents. Fraud cases saw a decrease from a high of 112 in 2019 to 62 in 2021, with a slight increase to 65 in 2022. Embezzlement and Forgery/Counterfeiting incidents remain low but indicate some year-to-year variation. These trends offer valuable insights for potential investors, real estate agents, and residents assessing the property crime climate in Kennebec County.
Demographics
Kennebec County, Maine displays a slightly higher female population compared to males and shows a significant portion of its residents holding a high school diploma or some college education without a degree. The age distribution suggests a diverse population with a notable number of individuals aged 55 to 64 years and a smaller yet active younger demographic under 10 years old. Racial diversity in the county remains limited, with a vast majority identifying as White. These demographic insights... Read more
Race Distribution in Kennebec County, Maine (2022)
Educational Attainment in Kennebec County, Maine (2022)
Age Distribution in Kennebec County, Maine
Citizen Population in Kennebec County, Maine (2022)
Political Trends & Data
Kennebec County, Maine saw a tight race in the 2020 U.S. Presidential Election, with Democrats barely outperforming Republicans. Minor parties, while not dramatically impactful, still drew enough interest to hint at some voter dissatisfaction with the major parties. This political diversity could mean that small changes in voter preferences might significantly influence future electoral... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Kennebec County, Maine, the 2020 U.S. Presidential Election showed a close contest between Republicans and Democrats, with Democrats slightly edging out Republicans by a narrow margin. Third parties like the Libertarian and Green parties, although having a minimal impact, still represented some voter interest, potentially reflecting a portion of the electorate dissatisfied with the two major parties. This competitive landscape may suggest a politically diverse community where electoral outcomes could be swayed by small shifts in voter sentiment.
47.82% of voters voted for the Republican party in the 2020 Presidential Election
48.06% of voters voted for the Democrat party in the 2020 Presidential Election
1.94% of voters voted for the Livertarian party in the 2020 Presidential Election
1.01% of voters voted for the Green party in the 2020 Presidential Election
1.18% of voters voted for the Other party in the 2020 Presidential Election
School Data
Kennebec County, Maine has seen its student-to-teacher ratio fall from around thirteen students per teacher in 2016 to just under twelve in 2023. With a ratio now below the national average, families looking for better education prospects may find it appealing. This trend could signal an increasing demand for housing, for real estate agents and investors, as new residents are drawn to the area. For appraisers and insurance agents, such demographic shifts might affect property values and risk... Read more
Student-to-teacher ratio in Kennebec County, Maine over the last 10 years
Kennebec County, Maine, has seen a gradual decline in its student-to-teacher ratio over the past decade, dropping from about thirteen students per teacher in 2016 to just under twelve in 2023. This trend generally suggests smaller class sizes, which could be a sign of improved educational quality and more personalized attention for students. With the current ratio now below the national average of fourteen students per teacher, it could be appealing for families looking to relocate to the area for better education prospects. For real estate agents and investors, this trend might indicate a growing attraction for new residents, potentially driving up demand for housing. For appraisers and insurance agents, these shifts can influence property values and risk assessments given the changing demographic and infrastructure needs.
