Kings County Real Estate and Livability Trends
Kings County, New York has experienced a notable spike in median home values from $570,200 in 2015 to $865,300 in 2022, likely reflecting the strong economic activity complemented by rising average taxable income, which grew from $51,113.24 in 2013 to $83,237.94 by 2021. Concurrently, real estate taxes nearly doubled over the same period, which could impact housing affordability. The drop in the... Read more
Kings County Market Trends
Over the past eight years, median home values in Kings County, New York surged from $570,200 in 2015 to $865,300 in 2022, substantially outpacing New York state and nationwide trends. The average residential energy tax credit per tax return hit a high of $2,602.42 in 2018, reflecting heightened investments in energy-efficient improvements. Meanwhile, real estate taxes have steadily risen, from... Read more
Median Value of Occupied Housing Units in Kings County, New York Over the Last 8 Years
Over the past eight years, median home values in Kings County, New York have seen a remarkable increase from $570,200 in 2015 to $865,300 in 2022. This local trend appears to outpace the state-wide rise from $283,400 to $384,100 in the same period and far exceeds the national growth from $125,500 to $179,400. For investors and prospective homeowners, this indicates a robust appreciation in property value within Kings County, hinting at strong demand and potentially profitable opportunities.
Residential Energy Tax Credit Per Tax Return in Kings County, NY Over the Last 9 Years
In Kings County, New York, the average residential energy tax credit per tax return has displayed a notable upward trend over the last nine years. From $481.21 in 2013, the average credit peaked impressively at $2,602.42 in 2018, reflecting growing investments in energy-efficient home improvements. Though there was a slight decrease in subsequent years, 2021 still showed a strong average credit of $2,270.44. These figures may suggest enhanced incentives and increased adoption of energy-saving measures among homeowners, which is an important consideration for investors, real estate agents, and homeowners evaluating the benefits of energy-efficient property upgrades.
Average Real Estate Taxes Per Tax Return in Kings County, NY Over the Last 10 Years
Homeowners in Kings County, New York have witnessed a noticeable upward trend in real estate taxes over the past decade, increasing from approximately $3,989.71 in 2012 to around $7,129.06 in 2021. This consistent rise could impact decisions for investors, appraisers, and insurance agents and affect the affordability of housing for prospective buyers and long-term residents. For real estate agents and developers, understanding this tax escalation is crucial for pricing strategies and market predictions.
Percentage of Farm Returns in Kings County, NY Over the Last 10 Years
Farm tax returns in Kings County, New York have shown a general decline over the past decade, albeit with minor fluctuations. From 2012's peak of approximately 0.011% of the total returns, the numbers have dwindled to around 0.008% in 2021. This slight decrease might hint at changing land use patterns, economic conditions, or shifts in agricultural viability. For investors, builders, or those considering a move, the diminishing farm returns could suggest a pivot towards more urbanized or different agricultural endeavors within the county.
Number of Mortgages by Occupancy Type in Kings County, NY Over the Last 5 Years in Kings County
Kings County, New York has shown significant fluctuations in mortgage applications over the past five years, particularly in the principal residence category which saw a peak in 2021 with 49,925 applications. Investment property mortgages also peaked in 2021 at 8,806 but have seen a subsequent decrease. In contrast, second residence mortgages have remained relatively low and stable. These trends suggest a dynamic housing market driven by a mix of residents opting for primary homes and investors targeting properties, which is essential insight for potential investors, real estate agents, and insurance agents assessing risk or value in the area. Shifts in these numbers may indicate changing economic conditions or housing demands, offering a barometer for future market movements and investment opportunities.
Economic Outlook
Kings County, New York has seen a significant rise in average taxable income per tax return, escalating from $51,113.24 in 2013 to $83,237.94 by 2021, suggesting a robust local economy and potentially higher property values. Concurrently, state and local income taxes have surged from $11,398.32 in 2012 to $38,146.30 in 2021, indicative of increased economic activity but also a higher cost of living. Additionally, the total tax liability per tax return nearly doubled over the decade, from... Read more
Average Taxable Income per Tax Return in Kings County, NY over the last 9 years
Kings County, New York has seen a notable increase in average taxable income per tax return over the past nine years, rising from $51,113.24 in 2013 to $83,237.94 by 2021. This growth trend could be attractive for investors and real estate agents, indicating a strengthening economic environment. The continued rise, particularly the significant jump in 2021, suggests robust local job markets and potentially higher property values. Appraisers and insurance agents might find this data useful in forecasting future valuations and premiums.
Average State and Local Income Taxes Per Tax Return in Kings County, NY Over the Last 10 Years
Over the past decade, Kings County, New York, has seen a notable rise in average state and local income taxes per tax return, climbing from around $11,398.32 in 2012 to approximately $38,146.30 in 2021. This surge might reflect higher earnings and possibly increased economic activity in the area. For potential investors, real estate agents, or those contemplating a move, it suggests a robust economic environment but also hints at a higher cost of living. For appraisers and insurance agents, this could mean a more affluent clientele, while builders might consider this an indicator of strong market demand.
Average Total Tax Liability Per Tax Return in Kings County, NY Over the Last 10 Years
Over the last decade, Kings County, New York has seen a notable rise in the average total tax liability per tax return, starting from $8,966.86 in 2012 to a significant increase reaching $16,887.60 by 2021. This trend indicates potentially higher earning residents or increased tax rates, which could influence property values and the cost of living. Such increases are worth noting for prospective homebuyers, investors, and real estate professionals as they can impact real estate market dynamics and the financial landscape in the area.
Cost of Living in Kings County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $3,014 | $1,802 | $1,777 | $2,948 | $2,711 |
| 2 adults 3 children | $3,014 | $1,472 | $1,741 | $2,948 | $2,525 |
| 1 adult 4 children | $3,014 | $1,471 | $1,105 | $2,948 | $2,708 |
| 1 adult 3 children | $3,014 | $1,202 | $1,068 | $2,948 | $2,570 |
| 2 adults 2 children | $2,400 | $1,205 | $1,704 | $2,590 | $2,058 |
| 1 adult 2 children | $2,400 | $900 | $1,031 | $2,590 | $2,088 |
| 2 adults 1 child | $2,400 | $952 | $1,667 | $1,426 | $1,679 |
| 1 adult 1 child | $2,400 | $615 | $995 | $1,426 | $1,622 |
| 2 adults | $2,125 | $765 | $1,189 | $0 | $1,114 |
| 1 adult | $2,079 | $417 | $594 | $0 | $1,094 |
Demographics
Kings County, New York, showcases a dynamic demographic landscape with a noticeable female majority in the adult population. In terms of educational attainment, a substantial number of residents hold at least a high school diploma, with a significant proportion achieving bachelor's and graduate degrees. The area exhibits a youthful age distribution, with a large cohort between 25 to 34 years and a significant population under 10 years. Racially, the county is quite diverse, with a notably high... Read more
Race Distribution in Kings County, New York (2022)
Educational Attainment in Kings County, New York (2022)
Age Distribution in Kings County, New York
Citizen Population in Kings County, New York (2022)
Political Trends & Data
Kings County, New York, potentially leans heavily Democratic, with about 76% of votes in the 2020 U.S. Presidential Election favoring the Democratic party, while the Republican party received just over 22%. Smaller parties such as Libertarian and Green amassed less than 1% each, hinting at a narrowly focused political landscape. This trend could be significant for shaping future political strategies both locally and... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Kings County, New York, saw a potentially dominant preference for the Democratic party with around 76% of votes in the 2020 U.S. Presidential Election, while the Republican party garnered just over 22%. The numbers for smaller parties, like Libertarian and Green, were marginal, each accumulating less than 1% of the votes. This trend might suggest a strong Democratic leaning in the area, which could influence local and national political strategies.
22.03% of voters voted for the Republican party in the 2020 Presidential Election
76.42% of voters voted for the Democrat party in the 2020 Presidential Election
0.27% of voters voted for the Livertarian party in the 2020 Presidential Election
0.43% of voters voted for the Green party in the 2020 Presidential Election
0.85% of voters voted for the Other party in the 2020 Presidential Election
School Data
Over the past decade, Kings County, New York, has seen a student-to-teacher ratio decrease from 14:1 in 2014 to 12:1 in 2023. This trend could make the area more appealing to families who prioritize education, potentially influencing property values and marketability. Lower ratios might also reflect high community investment in education, offering useful insights for appraisers, insurance agents, and prospective teachers evaluating job... Read more
Student-to-teacher ratio in Kings County, New York over the last 10 years
Over the past decade, Kings County in New York has experienced a notable decrease in the student-to-teacher ratio, dropping from 14 students per teacher in 2014 to around 12 in 2023. This trend suggests that class sizes are becoming more favorable compared to the national average of 14 students per teacher, potentially enhancing individualized attention and educational outcomes. For investors and those in real estate, lower student-to-teacher ratios could make the area more attractive to families prioritizing education. Appraisers and insurance agents might consider this an indicator of high community investment in education, potentially affecting property values and marketability. This could also be of interest to prospective teachers evaluating job markets or even to local policymakers understanding community needs.
