Franklin County Real Estate and Livability Trends
In Franklin County, Tennessee, average home values have surged from $110,700 in 2015 to $192,400 in 2022, outpacing national trends and suggesting attractive opportunities for real estate investment. Concurrently, the average residential energy tax credit spiked to $818.75 in 2021, hinting at a growing emphasis on energy-efficient upgrades. Real estate taxes have also seen a significant rise,... Read more
Franklin County Market Trends
Franklin County, Tennessee's median home values have seen a sharp rise from $110,700 in 2015 to $192,400 in 2022, outpacing national growth rates and suggesting lucrative investment potential. The area's average residential energy tax credit also spiked to $818.75 in 2021, reflecting a trend toward energy-efficient home upgrades. Real estate taxes have surged from approximately $2,057.68 in 2012... Read more
Median Value of Occupied Housing Units in Franklin County, Tennessee Over the Last 8 Years
Franklin County, Tennessee, has experienced a steady increase in median home values over the past eight years, starting at $110,700 in 2015 and reaching $192,400 in 2022. This upward trend is particularly striking when compared to the median home values at the state and national levels. Tennessee saw a similar rise but with higher starting and ending points, moving from $142,100 to $232,100 over the same period. Nationally, the median home value started higher at $125,500 in 2015 but didn't climb as sharply, ending at $179,400 in 2022. Such data suggests that Franklin County offers a potentially lucrative opportunity for investors, relative affordability for movers, and favorable conditions for developers looking to build property in the area.
Residential Energy Tax Credit Per Tax Return in Franklin County, TN Over the Last 8 Years
Franklin County, Tennessee has shown significant fluctuations in the average residential energy tax credit per tax return over the past eight years. From a low of $351.85 in 2014 to a peak of $818.75 in 2021, there's been an overall upward trend. Notably, the years 2019 through 2021 saw substantial increases, suggesting intensified homeowner investments in energy-efficient upgrades. This may be an appealing factor for investors, real estate agents, and prospective homeowners looking to benefit from potential tax credits and lower energy costs. Additionally, this trend could influence property appraisals and insurance considerations, marking the county as a potentially strategic area for sustainable living investments.
Average Real Estate Taxes Per Tax Return in Franklin County, TN Over the Last 10 Years
Over the last decade, average real estate taxes per tax return in Franklin County, Tennessee have shown a steady increase, reflecting rising property values and possibly changes in local tax policy. Starting at approximately $2,057.68 in 2012, these taxes have climbed to about $3,787.50 by 2021. Notable surges in 2018 and 2019 might indicate significant property reappraisals or legislative adjustments. This trend is crucial for investors, potential residents, and real estate professionals to consider, as it impacts affordability, investment returns, and housing market dynamics.
Percentage of Farm Returns in Franklin County, TN Over the Last 10 Years
Over the past decade, Franklin County, Tennessee has experienced a gradual decline in the percentage of farm tax returns filed, starting from 4.73% in 2012 and dipping to 3.98% by 2020, with a slight rebound to 4.11% in 2021. Farm tax returns generally reflect the proportion of income derived from agricultural activities within the county, making this a key indicator for investors and property developers interested in the local agricultural economy. This trend may suggest a shifting economic focus, which could influence decisions for those looking to invest in or move to Franklin County. For current residents or potential movers, staying informed about these agricultural shifts can offer insights into both the community's economic landscape and potential future development opportunities.
Number of Mortgages by Occupancy Type in Franklin County, TN Over the Last 5 Years in Franklin County
Franklin County, Tennessee has experienced noticeable variations in mortgage counts by occupancy type over the past five years. Principal residences consistently constitute the majority, peaking around 2020 with over 2,500 mortgages but seeing a significant decline by 2022. Investment properties, although still a smaller portion of the market, showed incremental growth from 67 in 2018 to 160 in 2022, indicating a growing interest in real estate as a financial asset. Second residences also saw fluctuations, with a high in 2020 of 261 mortgages. Changes in occupancy type can signal shifts in economic conditions, buyer preferences, and property values, directly impacting decisions for investors, homeowners, appraisers, and real estate agents alike. Understanding these trends can help forecast market stability and investment risks.
Economic Outlook
Franklin County, Tennessee has seen consistent growth in average taxable income per tax return, reaching $64,507.10 in 2021. Alongside this, average state and local income taxes per tax return have climbed to $11,308.33, indicating a robust local economy and potentially increasing purchasing power among residents. Concurrently, the average total tax liability per tax return has also risen to $9,714.15, reflecting economic growth and possibly evolving financial dynamics. These trends suggest... Read more
Average Taxable Income per Tax Return in Franklin County, TN over the last 9 years
Franklin County, Tennessee has seen a steady increase in average taxable income per tax return over the last nine years, with 2021 reaching a notable $64,507.10. This upward trend suggests a robust local economy, making the area potentially attractive for investors, real estate agents, and those considering relocation. Building or insuring property here might offer promising returns, while the rising incomes could hint at increased purchasing power among residents.
Average State and Local Income Taxes Per Tax Return in Franklin County, TN Over the Last 10 Years
Franklin County, Tennessee has experienced a notable upward trend in average state and local income taxes per tax return over the past decade. Starting with $5,640.74 in 2012, there was a dip in 2013, but since 2016, the values have steadily increased, peaking at $11,308.33 in 2021. This suggests increasing fiscal contributions from residents, potentially indicative of rising incomes or changes in tax policy. For investors, developers, and real estate professionals, this trend could hint at the economic growth and evolving financial dynamics within the county.
Average Total Tax Liability Per Tax Return in Franklin County, TN Over the Last 10 Years
In Franklin County, Tennessee, the average total tax liability per tax return has experienced a general upward trend over the past decade, with a notable increase from $6,604.01 in 2012 to $9,714.15 in 2021. This trend, while showing some fluctuations, indicates a steady rise in tax liabilities, which could be relevant for potential investors, property developers, real estate agents, and anyone considering moving to or doing business in the area. Understanding these tax trends can provide insight into the economic environment and potential costs associated with living or investing in Franklin County.
Cost of Living in Franklin County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,020 | $1,383 | $1,815 | $969 | $704 |
| 1 adult 4 children | $1,020 | $1,130 | $1,388 | $969 | $756 |
| 2 adults 3 children | $1,020 | $1,130 | $1,575 | $969 | $552 |
| 1 adult 3 children | $1,020 | $923 | $1,148 | $969 | $525 |
| 2 adults 2 children | $764 | $925 | $1,334 | $858 | $492 |
| 1 adult 2 children | $764 | $691 | $908 | $858 | $418 |
| 2 adults 1 child | $764 | $731 | $1,094 | $500 | $516 |
| 1 adult 1 child | $764 | $472 | $667 | $500 | $420 |
| 2 adults | $629 | $587 | $854 | $0 | $477 |
| 1 adult | $623 | $320 | $427 | $0 | $426 |
Safety trends & Data
Franklin County, Tennessee has experienced changes in property crime trends over the past five years. Burglary incidents decreased from 38.00 in 2018 to 21.00 in 2022, possibly indicating better security measures. Larceny-theft, while still the most common crime, fell from 160.00 cases in 2018 to 90.00 in 2022. Fraud rose to 40.00 cases in 2020 but dropped to 20.00 in 2022. These shifts could influence insurance costs, property values, and investment choices in the... Read more
Property Crime Trends in Franklin County, TN Over the Last 5 Years
Franklin County, Tennessee has seen fluctuating trends in property crimes over the past five years. Notably, burglary incidents have decreased from 38.0 in 2018 to 21.0 in 2022, suggesting perhaps enhanced security or policing efforts. Larceny-theft remains the most prevalent crime but exhibits a notable decline from 160.0 cases in 2018 to 90.0 cases in 2022. Fraud incidents increased from 28.0 cases in 2018 to 40.0 cases in 2020 but showed a drop to 20.0 cases in 2022. These trends could potentially impact insurance costs, property values, and investment decisions in the area.
Demographics
Franklin County, Tennessee, shows a nearly balanced gender distribution with females slightly outnumbering males. Educational attainment varies widely, though many residents hold only a high school diploma or some college education. The age distribution suggests a mature population, with notable representation in the 55-64 age bracket. The racial composition predominantly consists of White residents, with smaller but present Black or African American and other racial communities. Such... Read more
Race Distribution in Franklin County, Tennessee (2022)
Educational Attainment in Franklin County, Tennessee (2022)
Age Distribution in Franklin County, Tennessee
Citizen Population in Franklin County, Tennessee (2022)
Political Trends & Data
Franklin County, Tennessee, leans heavily conservative, with about 73% of voters favoring the Republican candidate in the 2020 U.S. Presidential Election. This political climate could imply that local policies and community priorities might align closer with conservative values, which may influence decisions in areas like zoning, development, and taxation. Buyers and investors could find this insight valuable when considering the community's long-term growth and property management... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Franklin County, Tennessee, the 2020 U.S. Presidential Election saw a dominant Republican preference, estimated at about 73%. Democrats secured approximately 25% of the vote, while other parties, including Libertarian and Green, barely made a dent, collectively capturing around 1.5%. This suggests a potentially strong conservative leaning in this county.
73.11% of voters voted for the Republican party in the 2020 Presidential Election
25.42% of voters voted for the Democrat party in the 2020 Presidential Election
1.47% of voters voted for the Other party in the 2020 Presidential Election
School Data
Franklin County, Tennessee, has seen its student-to-teacher ratio fluctuate slightly over the last decade, ranging from 14 to 15 students per teacher, which is close to the national average. These minor variations could reflect adjustments in funding, school policies, or population changes. For potential investors and those considering relocating, these ratios hint at the level of personalized attention in local schools, potentially impacting property values and community satisfaction.... Read more
Student-to-teacher ratio in Franklin County, Tennessee over the last 10 years
Franklin County, Tennessee, has seen its student-to-teacher ratio fluctuate slightly over the last decade, ranging from 14 to 15 students per teacher. While these numbers are close to the national average of 14 students per teacher, the minor variations could reflect adjustments in educational funding, school policies, or population changes in the region. For potential investors, real estate agents, and those considering relocating, these ratios might hint at the level of personalized attention students receive in local schools, which could impact property values and community satisfaction. Moreover, for appraisers and insurance agents, understanding these trends may help assess risks or benefits associated with local educational resources.
