Knox County Real Estate and Livability Trends
Knox County, Maine has experienced noteworthy growth in economic factors, with average taxable income increasing from $51,001.61 in 2013 to $79,665.56 by 2021, suggesting an improving financial landscape for its residents. This economic upswing correlates with a significant rise in both state and local income taxes, from $7,875.83 in 2012 to $15,334.92 in 2021, potentially affecting property... Read more
Knox County Market Trends
Knox County, Maine’s median home values surged from $197,000 in 2015 to $260,800 in 2022, outstripping both state and national appreciation rates. The Residential Energy Tax Credit per tax return fluctuated considerably, peaking at $2,766.67 in 2018 before stabilizing around $1,222.45 by 2021, suggesting variable investment in energy-efficient home improvements. Meanwhile, real estate taxes... Read more
Median Value of Occupied Housing Units in Knox County, Maine Over the Last 8 Years
Knox County, Maine has seen its median home values rise from $197,000 in 2015 to $260,800 in 2022, reflecting a strong upward trend. This local appreciation outpaces both the state of Maine, where median home values climbed from $173,800 to $244,800 during the same period, and the national average, which only saw an increase from $125,500 to $179,400. This rapid growth could indicate robust economic conditions and stronger demand in Knox County, making it an attractive spot for potential investors and homebuyers.
Residential Energy Tax Credit Per Tax Return in Knox County, ME Over the Last 9 Years
Knox County, Maine has seen significant fluctuations in the Residential Energy Tax Credit per tax return over the past nine years. After modest averages of around $507.25 in 2013 and $534.55 in 2014, there was a notable dip to $404.00 in 2015. However, the credit increased to $1,011.11 in 2017 and surged dramatically to $2,766.67 in 2018. Post-2018, the values saw a gradual decline, stabilizing around $1,222.45 by 2021. These trends could indicate varying levels of investment in energy-efficient improvements by residents, which may impact property values and the attractiveness of the region for potential homeowners and investors focused on sustainability.
Average Real Estate Taxes Per Tax Return in Knox County, ME Over the Last 10 Years
Real estate taxes in Knox County, Maine have seen a significant upward trend over the past decade. In 2012, the average tax per return was approximately $4,540.50, but by 2021, it had increased to roughly $8,095.49. Notably sharp increases occurred between 2017 and 2019, with taxes jumping from $5,670.57 to about $7,716.34. This could be a reflection of rising property values or changes in tax rates, and it's crucial information for potential investors, property developers, and current homeowners to consider.
Percentage of Farm Returns in Knox County, ME Over the Last 10 Years
Over the last decade, the percentage of farm tax returns in Knox County, Maine, has hovered around 0.80% to just over 1.00%. These figures suggest a relatively stable yet modest proportion of the tax returns filed come from farm operations. Farm tax returns reflect the financial health and activity level of the agricultural sector, which can indicate how much of the county's economy relies on farming. For investors or those looking to move to Knox County, an understanding of these dynamics offers insight into the agricultural landscape and its potential for growth or stability in a predominantly non-agrarian tax base.
Number of Mortgages by Occupancy Type in Knox County, ME Over the Last 5 Years in Knox County
Over the past five years, principal residence mortgages in Knox County, Maine have shown a generally stable presence, peaking significantly in 2021 before leveling off in 2022. Investment property mortgages have remained relatively low and constant, while second residence mortgages peaked similarly in 2021 but saw a notable drop by 2022. These occupancy type fluctuations impact investment payouts, housing demand, and community character, making them crucial for stakeholders like investors, real estate agents, and insurers. The dynamics offer insights into local economic health and lifestyle trends, potentially guiding wise investment and property development decisions.
Economic Outlook
Knox County, Maine has seen a steady rise in average taxable income per tax return, climbing from $51,001.61 in 2013 to $79,665.56 by 2021, hinting at economic growth and improving financial health for residents. Concurrent increases in state and local income taxes, from $7,875.83 in 2012 to $15,334.92 in 2021, along with a significant rise in total tax liability per tax return to $13,047.19, may suggest policy changes or economic shifts affecting tax burdens. These trends could influence... Read more
Average Taxable Income per Tax Return in Knox County, ME over the last 9 years
Knox County, Maine has seen a noticeable increase in average taxable income per tax return over the last nine years. From 2013's $51,001.61 to 2021's significantly higher $79,665.56, this upward trend may suggest economic growth and improving financial health among residents. For those interested in the local real estate market, investing, or appraising properties, these changes could indicate favorable conditions and potentially increasing property values. Meanwhile, insurance agents might use this data to update risk assessments and premiums accordingly.
Average State and Local Income Taxes Per Tax Return in Knox County, ME Over the Last 10 Years
Knox County, Maine has seen a noteworthy increase in average state and local income taxes per tax return over the past decade, jumping from around $7,875.83 in 2012 to approximately $15,334.92 by 2021. A significant spike occurred after 2017, hinting at potential policy changes or economic shifts influencing tax liabilities. Such trends could impact decisions for those considering investments or relocation, as they may reflect broader economic conditions or shifts in fiscal policy.
Average Total Tax Liability Per Tax Return in Knox County, ME Over the Last 10 Years
Over the past decade, Knox County, Maine has experienced a noticeable rise in the average total tax liability per tax return, culminating in $13,047.19 by 2021. This uptrend, particularly pronounced in the recent years, suggests potentially increasing property values or shifts in tax policy. Investors and real estate developers might see this as a signal of growing economic vitality, while appraisers and insurance agents should note the implications for property valuations and premiums. Current and prospective residents may want to consider these financial trends in their decision-making processes.
Cost of Living in Knox County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,419 | $1,729 | $1,911 | $1,456 | $1,556 |
| 1 adult 4 children | $1,419 | $1,412 | $1,459 | $1,456 | $1,703 |
| 2 adults 3 children | $1,419 | $1,413 | $1,659 | $1,456 | $1,260 |
| 1 adult 3 children | $1,419 | $1,153 | $1,207 | $1,456 | $1,407 |
| 2 adults 2 children | $1,103 | $1,156 | $1,407 | $1,270 | $995 |
| 1 adult 2 children | $1,103 | $864 | $955 | $1,270 | $1,028 |
| 2 adults 1 child | $1,103 | $914 | $1,156 | $666 | $896 |
| 1 adult 1 child | $1,103 | $590 | $704 | $666 | $759 |
| 2 adults | $918 | $734 | $904 | $0 | $714 |
| 1 adult | $738 | $400 | $452 | $0 | $595 |
Safety trends & Data
Knox County, Maine has seen a decline in property crimes over the past five years, with larceny-theft dropping from 76 incidents in 2018 to 29 in 2022, and burglary incidents plummeting from 11 to just 1 in the same period. Vandalism has also reduced considerably, from 23 incidents in 2018 to 10 by 2022. This trend may suggest enhanced security measures and community vigilance, making the area potentially attractive for investors, new residents, and real estate... Read more
Property Crime Trends in Knox County, ME Over the Last 5 Years
Knox County, Maine has seen a noticeable decline in property crimes over the past five years. Significant drops are evident in larceny-theft, plummeting from 76 incidents in 2018 to just 29 in 2022, and burglary, decreasing from 11 incidents in 2018 to a mere 1 in 2022. Vandalism incidents have also reduced considerably from 23 in 2018 to 10 by 2022. This downtrend could indicate improving security measures and community vigilance, making it potentially appealing for investors, new residents, and real estate professionals considering the area.
Demographics
Knox County, Maine, shows a slight female majority amid roughly 33,000 adults. Educational attainment varies, with high school graduates making up the largest segment, while nearly 12,000 residents hold college degrees. The county leans older with a substantial population over 55, reflecting local amenities targeted toward older adults. Racially, Knox County is overwhelmingly White, with very limited diversity from other racial groups. This demographic data may influence everything from local... Read more
Race Distribution in Knox County, Maine (2022)
Educational Attainment in Knox County, Maine (2022)
Age Distribution in Knox County, Maine
Citizen Population in Knox County, Maine (2022)
Political Trends & Data
Knox County, Maine, potentially leaned toward the Democratic party in the 2020 U.S. Presidential Election, with Democrats possibly capturing around 58% of the vote, while Republicans might have garnered about 38%. Minor parties like the Libertarians and Greens could have slightly chipped in with a little over 1% and 0.9% of the vote, respectively. These voter preferences may hint at broader political shifts in the region that could impact local policies and real estate... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Knox County, Maine, seemingly leaned toward the Democratic party in the 2020 U.S. Presidential Election, with Democrats potentially capturing around 58% of the vote, compared to about 38% for Republicans. Minor parties like the Libertarians and Greens could have made a marginal impact, possibly netting a little over 1% and 0.9% respectively. Voter preferences indicate a trend that might reflect broader political shifts in the region.
38.35% of voters voted for the Republican party in the 2020 Presidential Election
58.04% of voters voted for the Democrat party in the 2020 Presidential Election
1.36% of voters voted for the Livertarian party in the 2020 Presidential Election
0.95% of voters voted for the Green party in the 2020 Presidential Election
1.29% of voters voted for the Other party in the 2020 Presidential Election
School Data
Knox County, Maine has consistently maintained a student-to-teacher ratio below the national average of 14 students per teacher, peaking at 10 students per teacher in 2016 and ending at approximately 9 in 2023. This relatively low ratio suggests personalized attention for students, appealing to families seeking smaller class sizes. For real estate agents, this serves as a compelling selling point for prospective homebuyers, while educators might find it indicative of a potentially less... Read more
Student-to-teacher ratio in Knox County, Maine over the last 10 years
Over the past decade, Knox County, Maine has maintained a student-to-teacher ratio consistently below the national average of 14 students per teacher. The ratio peaked at 10 students per teacher in 2016, followed by slight fluctuations, and ended at approximately 9 students per teacher in 2023. This relatively low student-to-teacher ratio could suggest more personalized attention for students and might appeal to families valuing smaller class sizes. For real estate agents, this data could serve as a compelling selling point for prospective homebuyers, and for educators, it may indicate a potentially less stressful teaching environment. Investors and developers might also see this as an indicator of a stable and possibly desirable community for growth and investment.
