Benton County Real Estate and Livability Trends
Benton County, Tennessee, has experienced a steady rise in median home values, from $86,400 in 2015 to $112,000 in 2022, providing an affordable alternative to the national average of $232,100. Residential energy tax credits spiked to $850.00 in 2021, hinting at growing interest in energy-efficient home upgrades. Although average real estate taxes per tax return doubled from 2012 to 2021, farm... Read more
Benton County Market Trends
Over the last eight years, Benton County, Tennessee, has seen an upward trend in median home values, rising from $86,400 in 2015 to $112,000 in 2022. While these values are still lower than both the national average of $232,100 and Tennessee's state average of $179,400 for 2022, the lower cost could attract investors and those looking for more affordable housing. The region has also experienced... Read more
Median Value of Occupied Housing Units in Benton County, Tennessee Over the Last 8 Years
Over the last eight years, Benton County, Tennessee has seen fluctuating but generally upward trends in median home values, jumping from $86,400 in 2015 to $112,000 in 2022. While this growth is impressive, it's worth noting that Benton County's median home values remain significantly lower than both the national and Tennessee state averages, which reached $179,400 and $232,100 respectively in 2022. This relatively lower cost might pique the interest of potential investors or those looking to move to a more affordable yet appreciating market.
Residential Energy Tax Credit Per Tax Return in Benton County, TN Over the Last 8 Years
Over the last eight years, Benton County, Tennessee has seen some fluctuations in the average residential energy tax credit per tax return. The figures have varied from a low of $185.71 in 2016 to a significant increase to $850.00 in 2021. This upward trend in recent years could indicate a growing emphasis on energy-efficient home improvements, making it a potential area of interest for investors and real estate agents alike. For appraisers and insurance agents, understanding these trends could be significant for evaluating property values and risk assessments tied to energy-efficient investments.
Average Real Estate Taxes Per Tax Return in Benton County, TN Over the Last 10 Years
Benton County, Tennessee has seen a notable rise in average real estate taxes per tax return over the past decade, with amounts increasing from $1,400.00 in 2012 to $2,814.29 in 2021. The uptick in taxes, especially a sharp rise in 2018 and 2019, may indicate a trend of growing property values or changes in the county’s tax rates. This increase could be a signal to potential investors and property developers of strengthened local real estate market dynamics. For current residents and prospective homebuyers, it highlights the importance of budgeting for higher property taxes in future financial planning. Additionally, insurance agents and appraisers might find this data useful for understanding market trends and property values in Benton County.
Percentage of Farm Returns in Benton County, TN Over the Last 10 Years
Farm tax returns in Benton County, Tennessee, have shown a noticeable decrease over the past decade. In 2012, around 6.29% of returns were from farms, but this number has gradually dropped to approximately 5.04% by 2021. This trend could indicate a shrinking agricultural sector or changes in the economic landscape, which might be valuable information for those considering agricultural investments, property development, or relocation to the area.
Number of Mortgages by Occupancy Type in Benton County, TN Over the Last 5 Years in Benton County
Over the past five years in Benton County, Tennessee, there has been a noticeable increase in the number of mortgages for principal residences, jumping from 462 in 2018 to 707 in 2022. Investment property mortgages have seen a slower growth, moving from 36 to 61 over the same period. Second residence mortgages have fluctuated without a clear upward or downward trend but remained relatively low in comparison. These shifts in mortgage counts by occupancy type are likely to influence various stakeholders. For investors, the growing demand for principal residences signals a potentially stable rental market. Real estate agents and builders might find more opportunities in catering to primary home buyers. Appraisers and insurance agents need to be aware of these trends as they could impact property values and risk assessments. If you're considering moving to or investing in Benton County, understanding these dynamics can help inform your decisions.
Economic Outlook
Benton County, Tennessee has witnessed a consistent rise in average taxable income per tax return over the past nine years, peaking sharply from $46,168.57 in 2020 to $52,772.98 in 2021. Meanwhile, state and local income taxes in Benton County have fluctuated over the last seven years, with significant highs and lows, indicating variable local economic conditions and tax policy shifts. Additionally, the average total tax liability per tax return has shown a general upward trend, landing at... Read more
Average Taxable Income per Tax Return in Benton County, TN over the last 9 years
Over the past nine years, Benton County, Tennessee has seen a steady increase in average taxable income per tax return. Notably, there was a significant jump from $46,168.57 in 2020 to $52,772.98 in 2021. This upward trend may indicate a growing economic stability and potential for investment opportunities. Real estate agents, appraisers, and insurance agents might find this data useful when assessing the market's viability and growth potential.
Average State and Local Income Taxes Per Tax Return in Benton County, TN Over the Last 7 Years
Benton County, Tennessee has shown fluctuating trends in average state and local income taxes per tax return over the last seven years, peaking at $4,714.29 in 2017 and dipping to a low of $3,100.00 in 2014. These variations indicate potential changes in local economic conditions and tax policies that could impact financial planning for investors and residents alike. Such data is crucial for real estate agents, appraisers, and insurance agents when estimating property values and costs of living for prospective buyers or current residents.
Average Total Tax Liability Per Tax Return in Benton County, TN Over the Last 10 Years
Benton County, Tennessee, has seen a general uptick in average total tax liability per tax return over the last decade, with a notable spike in recent years. The average tax liability has fluctuated but consistently increased from $5,389.06 in 2012 to $7,000.75 in 2021. This trend may indicate a rise in income levels or changes in tax policy that impact residents. For investors, real estate agents, and appraisers, this could suggest a growing economic base, whereas insurance agents might view it as an indicator of evolving financial risks and coverage needs.
Cost of Living in Benton County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $909 | $1,367 | $1,867 | $969 | $672 |
| 1 adult 4 children | $909 | $1,117 | $1,428 | $969 | $687 |
| 2 adults 3 children | $909 | $1,117 | $1,620 | $969 | $510 |
| 1 adult 3 children | $909 | $912 | $1,181 | $969 | $487 |
| 2 adults 2 children | $747 | $914 | $1,372 | $858 | $490 |
| 1 adult 2 children | $747 | $683 | $933 | $858 | $412 |
| 2 adults 1 child | $747 | $723 | $1,125 | $500 | $511 |
| 1 adult 1 child | $747 | $467 | $686 | $500 | $413 |
| 2 adults | $601 | $581 | $877 | $0 | $468 |
| 1 adult | $597 | $317 | $439 | $0 | $415 |
Safety trends & Data
Property crime rates in Benton County, Tennessee, have shown notable declines over the past five years, especially in categories like Burglary and Larceny-Theft, which saw significant drops before minor increases in 2022. Motor Vehicle Theft has remained low and stable, while Vandalism peaked in 2021 and then slightly decreased. This trend might suggest improved crime prevention efforts, making Benton County potentially a safer and more attractive area for real estate... Read more
Property Crime Trends in Benton County, TN Over the Last 5 Years
Property crime rates in Benton County, Tennessee, appear to have generally decreased over the past five years, with significant drops in categories like Burglary, which peaked at 27 incidents in 2018 but fell to as low as 4 in 2021 before a slight increase to 10 in 2022. Larceny-Theft shows a similar trend, starting at 64 in 2018 and decreasing to 10 in 2021, though it rose again to 29 in 2022. Motor Vehicle Theft remained relatively low and stable, while Vandalism fluctuated, peaking at 10 incidents in 2021 and dropping slightly thereafter. These trends could potentially indicate improvements in crime prevention measures or shifts in population behavior, making Benton County a possibly more secure investment opportunity.
Demographics
Benton County, Tennessee shows a slightly higher population of females compared to males. Education levels lean heavily towards high school graduates, with fewer individuals holding advanced degrees. The age distribution suggests a significant portion of the population is in the 55 to 64 years range, potentially indicating a sizable group nearing retirement. Racially, the county's population appears predominantly White, with minimal representation from other racial groups. This demographic data... Read more
Race Distribution in Benton County, Tennessee (2022)
Educational Attainment in Benton County, Tennessee (2022)
Age Distribution in Benton County, Tennessee
Citizen Population in Benton County, Tennessee (2022)
Political Trends & Data
Benton County, Tennessee, witnessed a notable conservative tilt during the 2020 U.S. Presidential Election, with about 78% of voters supporting the Republican candidate. This overwhelming preference contrasts sharply with the mere 21% who voted Democrat. These voting patterns could imply that the county's political landscape is heavily influenced by the broader conservative dynamics often observed in rural parts of... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Benton County, Tennessee, showed a strong Republican preference in the 2020 U.S. Presidential Election, with nearly 78% of the vote going to the Republican candidate. Democrats captured a significantly smaller share, nearly 21%, while other parties barely registered. This trend suggests Benton County may lean heavily conservative, reflecting broader political dynamics in rural Tennessee areas.
78.07% of voters voted for the Republican party in the 2020 Presidential Election
21.06% of voters voted for the Democrat party in the 2020 Presidential Election
0.87% of voters voted for the Other party in the 2020 Presidential Election
School Data
Benton County, Tennessee, has seen its student-to-teacher ratio drop from over 15 in 2014 to just above 10 in 2023, well below the national average of 14. This trend could hint at a stronger educational environment and more individualized attention for students, which might attract families considering relocation. Real estate agents and appraisers could view this positive shift as a factor in assessing property values, while insurance agents might take it into account for risk... Read more
Student-to-teacher ratio in Benton County, Tennessee over the last 10 years
Benton County, Tennessee has experienced a notable reduction in its student-to-teacher ratio over the last decade, dropping from over 15 students per teacher in 2014 to just above 10 in 2023. This declining ratio, which is well below the current U.S. national average of 14 students per teacher, suggests an improving education environment with potentially more individualized attention for students. For those considering investing in or relocating to Benton County, this trend may indicate a strengthening education system. Additionally, real estate agents and appraisers might view this as a positive factor when assessing property values, while insurance agents might consider it in risk assessments for families moving into the area.
