Tennessee Real Estate and Livability Trends
Tennessee's real estate market has seen significant growth, with median home values rising from $142,100 in 2015 to $232,100 in 2022, outpacing national rates. This may attract investors despite increased property taxes and potential affordability issues. The state also shows a growing interest in energy efficiency, as seen in the fluctuation of residential energy tax credits, peaking at... Read more
Tennessee Market Trends
In Tennessee, median home values have surged from $142,100 in 2015 to $232,100 in 2022, outpacing national growth rates. This trend could signal a robust real estate market with appreciating assets, potentially appealing for investors despite rising property taxes and concerns over housing affordability. The average residential energy tax credit per tax return in the state has also seen notable... Read more
Median Value of Occupied Housing Units in Tennessee Over the Last 8 Years
The median home values in Tennessee have seen a significant upswing over the past eight years, climbing from $142,100 in 2015 to $232,100 in 2022. This trajectory is more pronounced when compared to the national median value, which increased from $125,500 to $179,400 over the same period. For investors, developers, or potential homebuyers, this increase might suggest a robust market with appreciating assets, potentially indicating a wise investment opportunity. Conversely, for current residents, this trend could impact property taxes and housing affordability.
Active Loans in Foreclosure/Bankruptcy/Deed in Lieu in Tennessee over the last 10 years
Active Loans 30-60 Days Past Due in Tennessee over the last 10 years in Tennessee
Perent of loans that are Active Loans 90-180 Days Past Due in Tennessee over the last 10 years in Tennessee
Residential Energy Tax Credit Per Tax Return in Tennessee Over the Last 9 Years
Over the past nine years, Tennessee has seen a noticeable rise in the average residential energy tax credit per tax return. Beginning in 2013 at roughly $355.08, the credit peaked dramatically in 2018 at approximately $1671.24 but then stabilized around values closer to $1026.70 by 2021. This trend might suggest increasing investment and interest in energy-efficient home improvements, which could be attractive to potential homebuyers, investors, and property developers looking to capitalize on energy tax benefits. For insurance agents and appraisers, this sharp increase emphasizes the growing value being placed on sustainable and energy-efficient home infrastructure.
Average Real Estate Taxes Per Tax Return in Tennessee Over the Last 10 Years
Over the past decade in Tennessee, there's a noticeable increase in average real estate taxes per tax return. In 2012, the average was $2,535.96, climbing steadily to $5,060.06 by 2021. Significant spikes, especially post-2017, suggest rising property values or tax rate adjustments. This upward trend is crucial for potential property investors, real estate agents, and insurers as higher taxes might indicate booming property markets but could also impact affordability and profitability.
Percentage of Farm Returns in Tennessee Over the Last 10 Years
Over the last decade, the percentage of farm tax returns in Tennessee seems to have slightly declined, starting at around 2.38% in 2012 and dipping to roughly 2.02% by 2015. The trend continues downward to about 1.88% in 2020, with a small uptick to approximately 1.92% in 2021. For those looking to invest in or build property in Tennessee, understanding these farm tax returns could be crucial as they provide insight into the agricultural economy and its impact on local development and real estate trends. Farm tax returns are essentially a measure of the number of farm-based income tax filings, which might reflect the broader financial health and viability of the farming sector in the state.
Economic Outlook
Tennessee has seen a marked increase in average taxable income per tax return, jumping from approximately $52,913.39 in 2013 to $82,520.43 by 2021. This rise could hint at a robust local economy, catching the eye of investors, real estate developers, and insurance professionals. Additionally, the state’s average income taxes have surged, with a notable spike from $7,918.79 in 2012 to $22,244.48 in 2021, particularly increasing by over $5,000 in 2021 alone. Coupled with a general uptick in... Read more
Average Taxable Income per Tax Return in Tennessee over the last 9 years
Tennessee has experienced a noticeable increase in average taxable income per tax return over the past nine years. Starting at approximately $52,913.39 in 2013, it has risen steadily, reaching around $82,520.43 by 2021. This significant growth could indicate a strengthening local economy, which might be attractive for investors, real estate developers, and insurance agents. For potential residents and those in the real estate sector, such trends may also suggest rising property values and increased economic opportunities.
Average State and Local Income Taxes Per Tax Return in Tennessee Over the Last 10 Years
Over the past decade, Tennessee has experienced a significant increase in average state and local income taxes per tax return. Starting at approximately $7,918.79 in 2012, the average surged to $22,244.48 by 2021. This upward trend might impact the state's attractiveness for potential investors and new residents, as well as influence property values and insurance rates. Notably, the sharp rise in taxes from 2017 onwards, especially jumping over $5,000 in 2021 alone, may be a key consideration for tax planning and financial decisions within the state.
Average Total Tax Liability Per Tax Return in Tennessee Over the Last 10 Years
Over the last decade, average total tax liability per tax return in Tennessee has generally trended upwards. In 2012, tax returns had an average liability of around $9,559.44, gradually rising each year to about $11,739.48 by 2017. After a slight decrease in 2018-2019, liabilities surged, reaching $15,253.74 in 2021. This upward trend could indicate economic growth and increased incomes, but also potentially higher tax rates or changes in tax policy. Understanding these shifts is essential for investors, real estate professionals, and those considering moving to or insuring property in Tennessee.
Cost of Living in Tennessee
Safety trends & Data
Tennessee has noted considerable changes in property crime over the past five years, with Fraud seeing the highest figures, peaking at around 31,555.00 in 2018 before dropping to 17,253.00 in 2022. Arson cases also decreased from 4,123.00 in 2019 to 3,303.00 in 2022. Motor Vehicle Theft remained relatively low, between 400.00 and 800.00 incidents. Decreasing trends in Vandalism and Larceny-Theft suggest possible improvements in property security. These shifts could interest investors and... Read more
Property Crime Trends in Tennessee Over the Last 5 Years
Tennessee has shown a varied landscape in property crime over the last five years, with Fraud consistently holding the highest numbers, peaking at around 31,555.00 in 2018 and trending downward to 17,253.00 by 2022. Arson incidents varied but had a noticeable decline from 4,123.00 in 2019 to 3,303.00 in 2022. Motor Vehicle Theft saw fluctuations but remained relatively low compared to other crimes, hovering around 400.00 to 800.00. Meanwhile, Vandalism and Larceny-Theft also indicated decreasing trends, signaling potential improvements in property security. These figures are essential for investors, real estate professionals, and potential residents as they hint toward evolving safety dynamics in the state.
Demographics
Tennessee's population showcases a modest gender gap with slightly more females than males. Educationally, high school graduates and those with some college education constitute significant portions of the population, hinting at a strong emphasis on secondary education. A notable age distribution sees a substantial number of residents in the 25 to 54-year bracket, implying a considerable workforce population. In terms of racial diversity, the majority of Tennesseans identify as White, while... Read more
Race Distribution in Tennessee (2022)
Educational Attainment in Tennessee (2022)
Age Distribution in Tennessee
Citizen Population in Tennessee (2022)
Political Trends & Data
In Tennessee, a strong conservative trend is evident from the 2020 U.S. Presidential Election, where approximately 60.66% of voters favored Republican candidates. Despite this, a sizeable 37.45% backed Democrats, hinting at a notable, though not dominant, liberal faction. Other parties struggled to gain traction, with their combined votes barely hitting... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Tennessee, the 2020 U.S. Presidential Election results show a strong preference for Republican candidates, with 60.66% of the vote, while Democrats captured around 37.45%. Alternative parties like the Libertarian and Green parties didn't make a noticeable impact, with all others combined barely reaching 1.89%. This dominance by Republicans suggests a conservative leaning in the state, though the Democratic presence remains significant enough to indicate some level of political diversity.
60.66% of voters voted for the Republican party in the 2020 Presidential Election
37.45% of voters voted for the Democrat party in the 2020 Presidential Election
1.89% of voters voted for the Other party in the 2020 Presidential Election
School Data
Over the last decade, Tennessee's student-to-teacher ratio has generally hovered around 15, peaking at 16 in 2020 and then dipping to just under 15 by 2023. Real estate professionals might see these figures as a signal of classroom crowding trends, affecting school quality and neighborhood desirability. Lower ratios closer to the national average of 14 students per teacher could indicate better learning environments, potentially making areas more attractive to families and impacting property... Read more
Student-to-teacher ratio in Tennessee over the last 10 years
Over the last decade in Tennessee, the student-to-teacher ratio has generally hovered around 15, with minor fluctuations. The ratio peaked at 16 in 2020 and then dipped to just under 15 by 2023. Investors and real estate agents might interpret these figures as an indication of classroom crowding trends, which can influence school quality and, subsequently, neighborhood desirability. Lower ratios closer to the current national average of 14 students per teacher could potentially signal better learning environments, making areas more attractive to families. Understanding these trends can be crucial for anyone looking to invest in property, move to Tennessee, and even for appraisers or insurance agents evaluating the quality and future value of properties in the state.
