Fayette County Real Estate and Livability Trends
Fayette County, Tennessee's real estate market shows striking trends: median home values jumped from $181,700 in 2015 to $282,600 in 2022, hinting at strong appreciation potential that could attract investors. Taxable income per tax return has climbed, reflecting a robust economic environment. Notably, real estate taxes have nearly doubled since 2012, which could be tied to rising property values... Read more
Fayette County Market Trends
Fayette County, Tennessee, has seen an impressive rise in median home values, climbing from $181,700 in 2015 to $282,600 in 2022, outpacing state and national averages. This suggests stronger appreciation potential, making it appealing for real estate investments. Residential energy tax credits have fluctuated but trended upward since 2017, perhaps indicating growing adoption of energy-efficient... Read more
Median Value of Occupied Housing Units in Fayette County, Tennessee Over the Last 8 Years
Fayette County, Tennessee, has experienced a robust increase in median home values over the past eight years, with figures rising from $181,700 in 2015 to $282,600 in 2022. This reflects a more dramatic upward trend compared to both state and national averages. Tennessee's median home values went from $142,100 to $232,100 in the same period, while the national values increased from $125,500 to $179,400. For those considering investing or moving to Fayette County, this substantial growth could imply stronger appreciation potential, making it a potentially lucrative area for real estate investments.
Residential Energy Tax Credit Per Tax Return in Fayette County, TN Over the Last 9 Years
Fayette County, Tennessee has seen considerable fluctuation in the average residential energy tax credit per tax return over the past nine years, peaking at $1,325.00 in 2018 and dipping to as low as $376.67 in 2016. The upward trend, particularly notable from 2017 onward, could indicate an increasing adoption of energy-efficient technologies in homes or more aggressive local incentives. This variability may interest investors, real estate agents, and property developers, as it signals potential growth in sustainable living initiatives, which may influence property values and attractiveness for future residents.
Average Real Estate Taxes Per Tax Return in Fayette County, TN Over the Last 10 Years
Over the past decade, Fayette County, Tennessee has experienced a notable uptick in real estate taxes per tax return. Starting at $1,570.60 in 2012, the average steadily climbed to $2,884.00 by 2021. This may suggest increased property values, infrastructure investments, or changes in tax policies. The sharp jump post-2017, particularly the spike to $2,363.04 in 2018 and continued rise to $2,884.00 in 2021, could be of interest to potential investors, appraisers, and real estate agents as indicators of evolving market dynamics and potential opportunities in the county.
Percentage of Farm Returns in Fayette County, TN Over the Last 10 Years
Fayette County, Tennessee has seen a fluctuating but generally declining trend in the percentage of farm returns over the last decade, starting at about 3.72% in 2012 and dropping to roughly 2.83% in 2021. Farm tax returns are a crucial indicator of agricultural activity and economic health in rural areas, reflecting the revenue and financial viability of local farming operations. For those considering investing, moving to, or building property in the area, this trend could suggest evolving dynamics in the local economy and potential shifts away from traditional farming. This may impact land values, community development, and future growth opportunities.
Number of Mortgages by Occupancy Type in Fayette County, TN Over the Last 5 Years in Fayette County
The trend in Fayette County, Tennessee shows a marked fluctuation in the number of mortgages taken for principal residences over the last five years, with notable peaks in 2020 and 2021. Investment properties also exhibit some variation, albeit with smaller numbers compared to principal residences, suggesting a cautious but steady interest in real estate investment. Second residences consistently lag behind in demand but present a niche market. Shifts in these patterns are crucial for potential investors, real estate agents, and appraisers as they can indicate market stability, risk factors, and opportunities for growth or diversification. Changes in occupancy types may affect property valuation, insurance premiums, and more, impacting the overall financial landscape of the county.
Economic Outlook
In Fayette County, Tennessee, the average taxable income per tax return has steadily risen from $61,273.03 in 2013 to $93,498.51 by 2021, suggesting a strong economic environment that's likely attracting attention from investors, property developers, and real estate agents. However, state and local income taxes have fluctuated, peaking at $7,963.64 in 2020, which could influence the overall cost of living and investment returns. Total tax liability has generally increased, with significant... Read more
Average Taxable Income per Tax Return in Fayette County, TN over the last 9 years
The average taxable income per tax return in Fayette County, Tennessee has shown a steady upward trend over the last nine years. In 2013, the average taxable income was approximately $61,273.03, increasing consistently to about $93,498.51 by 2021. This marked growth highlights a robust economic environment, making the county an attractive prospect for investors, property developers, and real estate agents. Potential homeowners and businesses might find Fayette County increasingly appealing due to this consistent rise in economic stability and potential for further growth.
Average State and Local Income Taxes Per Tax Return in Fayette County, TN Over the Last 10 Years
Average state and local income taxes per tax return in Fayette County, Tennessee have shown fluctuations over the past decade. While 2012 started with an average of $6,634.48, there was a significant dip in 2014 to $5,405.88. The highest average tax value was observed in 2020 at $7,963.64. Such variability can be informative for potential investors, real estate professionals, and residents considering the tax environment's impact on the overall cost of living and investment returns.
Average Total Tax Liability Per Tax Return in Fayette County, TN Over the Last 10 Years
In Fayette County, Tennessee, average total tax liability per tax return has demonstrated a general upward trajectory over the past decade. Notably, there were occasional dips, as seen in 2018, but the overall trend suggests increasing tax burdens for residents. Significant jumps, especially between 2016-2017 and 2019-2020, may indicate economic or policy changes influencing these liabilities. For potential investors, property developers, and real estate agents, this upward trend could impact the overall attractiveness and financial planning associated with activities in the region. Insurance agents and appraisers might consider these insights for risk assessment and valuation purposes.
Cost of Living in Fayette County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,079 | $1,456 | $1,769 | $1,152 | $819 |
| 1 adult 4 children | $1,079 | $1,189 | $1,351 | $1,152 | $906 |
| 2 adults 3 children | $1,079 | $1,189 | $1,535 | $1,152 | $648 |
| 1 adult 3 children | $1,079 | $971 | $1,118 | $1,152 | $694 |
| 2 adults 2 children | $816 | $974 | $1,302 | $1,059 | $594 |
| 1 adult 2 children | $816 | $727 | $884 | $1,059 | $542 |
| 2 adults 1 child | $816 | $769 | $1,068 | $757 | $624 |
| 1 adult 1 child | $816 | $497 | $651 | $757 | $510 |
| 2 adults | $713 | $618 | $835 | $0 | $520 |
| 1 adult | $632 | $337 | $417 | $0 | $441 |
Safety trends & Data
Fayette County, Tennessee, has experienced notable fluctuations in property crimes, which could impact real estate trends. Larceny-theft, the most reported crime, surged to 53.00 arrests in 2018 and 2019, then dropped significantly in 2020 to 14.00, rising again to 22.00 in 2022. Burglary incidents saw a remarkable rise to 17.00 in 2022, up from just 3.00 in previous years. These changes in crime rates may sway property values, insurance premiums, and investor confidence in the... Read more
Property Crime Trends in Fayette County, TN Over the Last 5 Years
Fayette County, Tennessee has seen significant fluctuations in property crimes over the past five years. Larceny-theft consistently remained the highest-reported crime, peaking at 53.00 arrests in both 2018 and 2019 before dropping to 14.00 in 2020 and slightly increasing to 22.00 in 2022. Burglary incidents showed a notable spike in 2022, rising to 17.00 from a low of 3.00 in the previous years. Motor vehicle theft had a slight increase overall, with some years showing consistent numbers. Vandalism and fraud cases also show variances, but not as pronounced. This shifting landscape may influence property values, insurance costs, and investor confidence in the area.
Demographics
In Fayette County, Tennessee, the gender distribution among adults is almost balanced, hinting at a well-mixed male and female population. Educational attainment data shows a significant number of residents have completed high school, though higher education degrees are less common. The population is notably older, with substantial segments in the 45+ age ranges, implying potential impacts on healthcare and senior services. Racially, the county is predominantly White, followed by a sizable... Read more
Race Distribution in Fayette County, Tennessee (2022)
Educational Attainment in Fayette County, Tennessee (2022)
Age Distribution in Fayette County, Tennessee
Citizen Population in Fayette County, Tennessee (2022)
Political Trends & Data
Fayette County, Tennessee saw about 68% of voters leaning Republican in the 2020 presidential election, while roughly 31% supported the Democratic candidate. Voter turnout for third parties was minimal, with less than 2% of votes spread among minor parties. This indicates a strong Republican tilt but also a notable Democratic... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Fayette County, Tennessee, around 68% of voters leaned Republican in the 2020 presidential election, while approximately 31% supported the Democratic candidate. Voter turnout for third parties was seemingly negligible, with less than 2% of votes collectively split among minor parties. This suggests a strong Republican preference in the county, though a not insignificant portion of the electorate backed the Democratic candidate.
68.26% of voters voted for the Republican party in the 2020 Presidential Election
30.57% of voters voted for the Democrat party in the 2020 Presidential Election
1.16% of voters voted for the Other party in the 2020 Presidential Election
School Data
Over the past decade, Fayette County, Tennessee's student-to-teacher ratio has fluctuated, peaking at eighteen students per teacher in 2020 and dropping to around thirteen students per teacher in 2021. Recently, it has stabilized near the national average of fourteen students per teacher. These changes could influence real estate investors, homebuyers, and educators, as lower ratios may indicate more personalized attention for students, attracting families seeking quality education. For... Read more
Student-to-teacher ratio in Fayette County, Tennessee over the last 10 years
Over the past decade, Fayette County, Tennessee has seen fluctuations in its student-to-teacher ratio, peaking at eighteen students per teacher in 2020, and dropping to around thirteen students per teacher in 2021. Recently, the ratio has stabilized close to the national average of fourteen students per teacher. These variations could impact decisions for real estate investors, homebuyers, and educators, as lower ratios might suggest more personalized attention for students, thereby potentially attracting families seeking quality education. For insurance agents and appraisers, these educational statistics might influence property valuations and insurance premiums, given the role of school quality in community desirability.
