Kent County Real Estate and Livability Trends
Kent County, Rhode Island has seen median home values jump from $208,500 in 2015 to $306,000 in 2022, potentially offering substantial equity growth for homeowners. The residential energy tax credit peaked at $3,953.85 per tax return in 2018, hinting at a rising trend in energy-efficient home upgrades. Real estate taxes have increased from $4,938.23 in 2012 to $6,747.91 in 2021, reflecting a... Read more
Kent County Market Trends
Kent County, Rhode Island has experienced a notable rise in median home values from $208,500 in 2015 to $306,000 in 2022, outpacing the state and national averages. This growth signals robust potential for equity gains. The residential energy tax credit peaked at $3953.85 per tax return in 2018, hinting at a trend towards energy-efficient home improvements. Real estate taxes per tax return rose... Read more
Median Value of Occupied Housing Units in Kent County, Rhode Island Over the Last 8 Years
Kent County, Rhode Island has seen significant growth in median home values over the last eight years, rising from $208,500 in 2015 to $306,000 in 2022. This increase of nearly $100,000 outpaces both the Rhode Island state average, which climbed from $238,000 to $343,100, and the national average, which moved from $125,500 to $179,400 in the same period. These trends suggest a relatively stronger appreciation in property values in Kent County, making it potentially appealing for investors and homeowners eyeing robust equity growth.
Residential Energy Tax Credit Per Tax Return in Kent County, RI Over the Last 9 Years
The residential energy tax credit in Kent County, Rhode Island has shown substantial growth over the past nine years, peaking in 2018 at $3953.85 per tax return. This could indicate a significant increase in energy-efficient home improvements or renewable energy installations during that period. While the average credit dropped in subsequent years, it remains notably higher than earlier values, possibly suggesting ongoing investments in energy efficiency by homeowners. This trend might interest property investors and appraisers as it reflects a community increasingly focused on sustainable living. Moreover, real estate agents could use this data to highlight the potential long-term savings on utility costs for prospective buyers.
Average Real Estate Taxes Per Tax Return in Kent County, RI Over the Last 10 Years
Over the past decade, Kent County, Rhode Island has seen a notable increase in average real estate taxes per tax return, climbing from around $4,938.23 in 2012 to approximately $6,747.91 in 2021. This rising trend underscores a growing financial commitment for homeowners, potentially affecting property valuations and decisions regarding real estate investments. Individuals considering this area should be aware of these increasing tax burdens as they assess housing affordability and long-term investment viability.
Percentage of Farm Returns in Kent County, RI Over the Last 10 Years
Farm tax returns in Kent County, Rhode Island have remained relatively stable over the last decade, generally hovering around 0.10% to 0.12%. There are negligible fluctuations, with a slight peak in 2013 at 0.12% and slight dips observed in 2018 and 2019. For those eyeing property investment or agriculture ventures, these minor variations in farm tax returns may imply a stable but low farm activity sector, potentially signaling steady but limited growth opportunities in the agricultural domain.
Number of Mortgages by Occupancy Type in Kent County, RI Over the Last 5 Years in Kent County
The number of mortgages for principal residences in Kent County, Rhode Island has generally been much higher compared to those for investment or second residences over the past five years, peaking in 2021 with over 16,000 mortgages. Trends show an overall decline in principal residence mortgages from 2018 to 2022, which could indicate a shifting real estate market or economic factors that are influencing home buying behaviors. For investors or those interested in second homes, the smaller and more consistent numbers suggest a stable but less volatile market segment. Changes in occupancy types matter because they reflect different motivations in the housing market, which can impact property values, rental demand, and insurance risk assessments. Real estate agents, appraisers, and developers may find these insights crucial for tailoring their strategies to current market conditions.
Economic Outlook
Kent County, Rhode Island has witnessed a gradual increase in average taxable income per tax return from approximately $63,928.03 in 2013 to around $87,841.48 in 2021. Simultaneously, average state and local income taxes rose from $5,939.03 in 2012 to $10,235.11 in 2021, particularly spiking post-2017. These trends could indicate economic growth but also a higher tax burden for residents. The noticeable fluctuations in total tax liability, peaking at $14,848.55 in 2021, suggest increased costs... Read more
Average Taxable Income per Tax Return in Kent County, RI over the last 9 years
Kent County, Rhode Island has seen a gradual increase in the average taxable income per tax return over the past nine years. Starting at around $63,928.03 in 2013, it climbed up to approximately $87,841.48 by 2021. This steady rise indicates potential growth and prosperity in the area, which could be attractive to investors, real estate agents, and individuals considering moving or building property in the region. This upward trend may also affect property appraisals and insurance premiums as higher income levels often correlate with increased property values.
Average State and Local Income Taxes Per Tax Return in Kent County, RI Over the Last 10 Years
Kent County, Rhode Island has seen a significant rise in average state and local income taxes per tax return over the past decade, jumping from $5,939.03 in 2012 to $10,235.11 in 2021. This steady increment, particularly sharp post-2017, could imply economic growth and increased incomes, but also suggests a higher tax burden for residents. For prospective investors or residents, understanding this trend is key for financial planning, while appraisers and real estate agents might consider its impact on property values and market dynamics.
Average Total Tax Liability Per Tax Return in Kent County, RI Over the Last 10 Years
The average total tax liability per tax return in Kent County, Rhode Island has experienced some noticeable fluctuations over the past decade. Values peaked dramatically in 2021, reaching $14,848.55, a significant jump from previous years. This trend suggests that tax liabilities are largely increasing over time, especially with notable spikes in years like 2015 and 2017. For potential investors, appraisers, insurance agents, property developers, and real estate agents, this could imply shifts in the economic landscape and the cost of living, potentially reflecting broader economic changes in the region.
Cost of Living in Kent County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,779 | $1,564 | $1,483 | $1,997 | $1,509 |
| 1 adult 4 children | $1,779 | $1,278 | $1,138 | $1,997 | $1,697 |
| 2 adults 3 children | $1,779 | $1,278 | $1,285 | $1,997 | $1,286 |
| 1 adult 3 children | $1,779 | $1,043 | $940 | $1,997 | $1,450 |
| 2 adults 2 children | $1,461 | $1,046 | $1,086 | $1,782 | $1,041 |
| 1 adult 2 children | $1,461 | $781 | $741 | $1,782 | $1,125 |
| 2 adults 1 child | $1,461 | $827 | $888 | $1,085 | $945 |
| 1 adult 1 child | $1,461 | $534 | $543 | $1,085 | $892 |
| 2 adults | $1,214 | $664 | $690 | $0 | $701 |
| 1 adult | $1,105 | $362 | $345 | $0 | $613 |
Safety trends & Data
Property crime trends in Kent County, Rhode Island, have revealed intriguing patterns over the past five years. Larceny-theft, although significantly higher than other property crimes, has decreased from 501.00 instances in 2018 to 353.00 in 2022. While vandalism has fluctuated slightly, it peaked at 142.00 occurrences in 2020. Burglary spiked to 85.00 incidents in 2019 before falling to 51.00 in 2021, and motor vehicle theft showed a slight upward trend, reaching 27.00 occurrences in 2022.... Read more
Property Crime Trends in Kent County, RI Over the Last 5 Years
Property crime trends in Kent County, Rhode Island, reveal notable patterns over the past five years, which could be pivotal for investors, appraisers, real estate agents, and those considering moving to the area. From 2018 to 2022, larceny-theft remains significantly higher compared to other property crimes, though it has generally decreased from 501.00 instances in 2018 to 353.00 in 2022. Vandalism shows a consistent presence, fluctuating slightly but peaking at 142.00 occurrences in 2020. Burglary saw the highest spike of 85.00 incidents in 2019 but dipped to 51.00 in 2021. Embezzlement and fraud varied year by year with a slight increase in certain years. Motor vehicle theft showed a slight upward trend, reaching 27.00 occurrences in 2022. These insights underline potential areas of concern and opportunity for stakeholders, highlighting shifts in crime patterns that could influence local property values and community safety perceptions.
Demographics
Kent County, Rhode Island, shows a relatively balanced gender distribution with slightly more females than males. The population's educational attainment suggests a significant portion having high school diplomas or higher, indicating a somewhat educated community. Age-wise, there's a noticeable concentration of residents between the ages of 25 to 64, implying a stable working-age demographic. The racial composition is predominantly White, with smaller representations from other racial groups... Read more
Race Distribution in Kent County, Rhode Island (2022)
Educational Attainment in Kent County, Rhode Island (2022)
Age Distribution in Kent County, Rhode Island
Citizen Population in Kent County, Rhode Island (2022)
Political Trends & Data
In Kent County, Rhode Island, there has been a notable trend where a higher percentage of votes leaned towards the Democratic party, with Republicans not far behind. Libertarians managed to capture a modest portion of the vote, while the Green party received minimal support. Additionally, minor parties or independent candidates secured a small share, suggesting some, albeit limited, interest in alternatives to the main two political... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Kent County, Rhode Island, saw a higher percentage of votes for the Democratic party, with Republicans trailing slightly behind. Libertarians captured a modest portion of the vote, while the Green party didn't seem to garner any support. Minor parties or independent candidates also secured a small share of the vote, highlighting a potential, though limited, interest in alternatives outside the main two parties.
45.12% of voters voted for the Republican party in the 2020 Presidential Election
52.76% of voters voted for the Democrat party in the 2020 Presidential Election
1.14% of voters voted for the Livertarian party in the 2020 Presidential Election
0.98% of voters voted for the Other party in the 2020 Presidential Election
School Data
In Kent County, Rhode Island, the student-to-teacher ratio has shown a slight downward trend over the past decade, generally staying below the national average of 14. Starting at 14 in 2014 and peaking at 15 in 2015, it has recently dropped to about 13. This trend could signify smaller class sizes and more personalized attention for students, which may appeal to families prioritizing education. Quality education metrics could potentially enhance property values and community appeal, making this... Read more
Student-to-teacher ratio in Kent County, Rhode Island over the last 10 years
Over the past decade, the student-to-teacher ratio in Kent County, Rhode Island has shown a slight decline, generally trending below the national average of 14 students per teacher. Starting at 14 in 2014 and peaking slightly at 15 in 2015, the ratio mostly stayed below that threshold, dropping to about 13 in recent years. This subtle decrease could indicate smaller class sizes, potentially leading to more personalized attention for students, which might be a draw for families prioritizing education. Investors, appraisers, and real estate agents might find this trend relevant, as quality education often enhances property values and community appeal. Insurance agents and property developers may also take note, as robust educational metrics can influence local development and market stability.
