Hancock County Real Estate and Livability Trends
In Hancock County, Tennessee, median home values have jumped 40% from $80,400 in 2015 to $112,600 in 2022, although this increase is relatively smaller compared to broader state and national trends. The rise in average taxable income and state/local income taxes signals an improving economic environment that could become attractive to real estate investors. Real estate taxes have almost doubled... Read more
Hancock County Market Trends
Hancock County, Tennessee has experienced a 40% increase in median home values from $80,400 in 2015 to $112,600 in 2022, lower than the 63% hike in Tennessee and smaller rise nationally. Residential energy tax credits climbed from $200.00 in 2013 to around $300.00 in 2016, hinting at growing energy-efficient home investments. Real estate taxes surged from roughly $1,280 in 2012 to $2,133.33 in... Read more
Median Value of Occupied Housing Units in Hancock County, Tennessee Over the Last 8 Years
Hancock County, Tennessee has seen a more reserved appreciation in median home values compared to state and national trends over the last eight years. Starting at $80,400 in 2015 and peaking at $112,600 in 2022, this represents a 40% increase. In contrast, the state's median value surged from $142,100 to $232,100—a boost of 63%, while nationally, values rose from $125,500 to $179,400. Investors and homebuyers might find Hancock County intriguing due to its relatively modest price growth, potentially signifying more accessible entry points in the market compared to broader, sharper increases in Tennessee and the U.S. overall.
Residential Energy Tax Credit Per Tax Return in Hancock County, TN Over the Last 3 Years
Hancock County, Tennessee has seen a notable increase in residential energy tax credits per tax return over the last three years, climbing from $200.00 in 2013 to potentially around $300.00 in 2016. This trend could suggest growing investments in energy-efficient home improvements, which might be appealing for homebuyers and investors looking for properties with lower long-term energy costs. For real estate professionals and insurance agents, this implies a possible rise in demand for modernized homes with energy-efficient features. With the area seemingly prioritizing sustainability, it may also attract environmentally conscious residents.
Average Real Estate Taxes Per Tax Return in Hancock County, TN Over the Last 8 Years
In Hancock County, Tennessee, the average real estate taxes per tax return have shown a general upward trend over the last eight years. Starting at roughly $1,280 in 2012, there were consistent increases leading to a peak of $2,550 in 2020. Although there's been some fluctuation, with a slight dip to $2,133.33 in 2021, the overall pattern suggests a significant rise, possibly indicating growing property values or adjustments in tax rates. This could be crucial for potential buyers, investors, and real estate professionals evaluating the region’s economic landscape.
Percentage of Farm Returns in Hancock County, TN Over the Last 10 Years
The percentage of farm returns in Hancock County, Tennessee, has shown a subtle downward trend over the past decade, starting at roughly 16.19% in 2012 and dipping to around 12.60% by 2021. Farm tax returns refer to tax filings by agricultural operations, indicating the economic activity of farms in the region. This trend might suggest shifting economic factors or changing agricultural dynamics, crucial for potential investors, property developers, and new residents to consider.
Number of Mortgages by Occupancy Type in Hancock County, TN Over the Last 5 Years in Hancock County
Over the past five years, Hancock County, Tennessee has seen a noticeable trend in mortgage counts by occupancy type. There's been a significant rise in principal residence mortgages, peaking at 235 in 2021 from 139 in 2018, while those for second residences and investment properties remained relatively stable. These shifts could signal changing demand dynamics, suggesting a growing local population or increased desirability for permanent living versus secondary or investment purposes. This trend is worth noting for potential investors, developers, and real estate agents, as it may impact property values, rental markets, and community planning needs.
Economic Outlook
Hancock County, Tennessee has experienced a steady rise in average taxable income per tax return, increasing significantly from $32,254.55 in 2013 to $42,031.69 in 2021. Meanwhile, state and local income taxes saw a noticeable jump from $4,100.00 in 2016 to $5,550.00 in 2017. Additionally, the average total tax liability also grew, notably peaking at $4,775.28 in 2021. These upward trends suggest an improving economic landscape that could interest real estate investors, appraisers, and... Read more
Average Taxable Income per Tax Return in Hancock County, TN over the last 9 years
Over the last nine years, Hancock County, Tennessee has seen a steady increase in average taxable income per tax return, rising from $32,254.55 in 2013 to $42,031.69 in 2021. This growth indicates a potentially improving economic environment, which could be of interest to real estate investors, individuals considering moving to the area, and insurance agents assessing local prosperity. Real estate agents might find these trends compelling when marketing properties, while appraisers should keep in mind the upward trajectory of incomes when evaluating property values. This gradual increase might suggest economic resilience or new opportunities within Hancock County.
Average State and Local Income Taxes Per Tax Return in Hancock County, TN Over the Last 2 Years
In Hancock County, Tennessee, average state and local income taxes per tax return have increased from $4,100.00 in 2016 to $5,550.00 in 2017. This notable rise could be indicative of broader fiscal trends that might interest investors, real estate agents, and prospective residents. While the reasons behind the increase aren't clear from this data alone, it’s essential for stakeholders to consider these shifts when making financial or relocation decisions.
Average Total Tax Liability Per Tax Return in Hancock County, TN Over the Last 10 Years
Over the past decade, Hancock County, Tennessee, has generally seen an upward trend in average total tax liability per tax return. The figures indicate a notable increase, particularly peaking in 2021 at $4,775.28 compared to $3,376.22 in 2012. Such trends may be relevant for those considering real estate investments, local economic development, or financial planning in the area, as they reflect broader economic conditions and potential shifts in property values or local tax policies.
Cost of Living in Hancock County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $909 | $1,331 | $1,879 | $969 | $672 |
| 1 adult 4 children | $909 | $1,087 | $1,438 | $969 | $687 |
| 2 adults 3 children | $909 | $1,087 | $1,630 | $969 | $510 |
| 1 adult 3 children | $909 | $888 | $1,189 | $969 | $488 |
| 2 adults 2 children | $747 | $890 | $1,381 | $858 | $490 |
| 1 adult 2 children | $747 | $665 | $940 | $858 | $412 |
| 2 adults 1 child | $747 | $704 | $1,132 | $500 | $512 |
| 1 adult 1 child | $747 | $454 | $690 | $500 | $413 |
| 2 adults | $578 | $565 | $883 | $0 | $461 |
| 1 adult | $574 | $308 | $441 | $0 | $406 |
Safety trends & Data
Hancock County, Tennessee has shown fluctuating property crime rates over the past five years. Larceny-theft cases surged in 2018 and 2019 with 11 incidents each year but stabilized at lower numbers afterward. Burglary incidents have remained relatively steady but saw a minor increase in 2021 to four cases. Motor vehicle theft and fraud show sporadic spikes, and arson cases appeared in 2022 data. This shifting crime landscape could potentially influence real estate, insurance, and security... Read more
Property Crime Trends in Hancock County, TN Over the Last 5 Years
Hancock County, Tennessee has experienced fluctuating property crime rates over the past five years, with burglary and larceny-theft incidents being the most common. Notably, larceny-theft cases surged in 2018 and 2019 with 11 incidents each year but saw a significant drop in the following years, stabilizing at lower numbers. Burglary incidents have remained relatively steady, with a slight increase in 2021 to four cases. Instances of motor vehicle theft and fraud also show sporadic activity, with a minor spike in 2021. Newer trends include the introduction of arson cases in the 2022 data. These trends suggest a shifting landscape for property crime in Hancock County, potentially influencing real estate, insurance, and security considerations.
Demographics
Hancock County, Tennessee showcases a nearly equal gender distribution among adults, with a slight majority of females. Educational attainment highlights a significant proportion completing high school, but lower percentages advancing to higher education degrees. The age demographics suggest a balanced spread across most age groups, with a notable portion of residents aged 55 and older. The racial makeup is predominantly White, with minimal representation of other races, reflecting limited... Read more
Race Distribution in Hancock County, Tennessee (2022)
Educational Attainment in Hancock County, Tennessee (2022)
Age Distribution in Hancock County, Tennessee
Citizen Population in Hancock County, Tennessee (2022)
Political Trends & Data
In Hancock County, Tennessee, nearly 87% of the 2020 Presidential vote went to the Republican candidate, highlighting a strong Republican preference. With only about 13% of the votes leaning Democratic, other parties like the Libertarian and Green had minimal impact. This could provide useful insight into the county's political landscape and voter... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Hancock County, Tennessee, 2020 Presidential Election data suggests a significant Republican preference, with nearly 87% of the vote going to the Republican candidate. The Democratic candidate received roughly 13%, while other parties, including Libertarian and Green, didn't appear to make a notable impact. This overwhelming tilt towards Republican candidates might offer insights into the county's political leanings and voter concerns.
86.44% of voters voted for the Republican party in the 2020 Presidential Election
13.19% of voters voted for the Democrat party in the 2020 Presidential Election
0.36% of voters voted for the Other party in the 2020 Presidential Election
School Data
Over the last decade, Hancock County, Tennessee has seen interesting fluctuations in its student-to-teacher ratio, with notably lower ratios between 2014 and 2017, dipping to 10 in 2015 and 2016. However, starting in 2018, the ratio began rising, peaking at nearly 15 in 2018 and 2023. These shifts often reflect changes in local school funding, class sizes, and potentially the quality of education, crucial context for investors, real estate agents, and those planning to move here. Appraisers and... Read more
Student-to-teacher ratio in Hancock County, Tennessee over the last 10 years
Over the last decade, Hancock County, Tennessee has seen some fluctuations in its student-to-teacher ratio. While the national average is 14 students per teacher, Hancock County had notably lower ratios between 2014 and 2017, dipping as low as 10 in 2015 and 2016. However, starting in 2018, the ratio began to rise closer to the national average, peaking at nearly 15 in 2018 and 2023. These variations can be critical for investors, real estate agents, and those planning to move here, as they often reflect shifts in local school funding, class sizes, and potentially the quality of education. For appraisers and insurance agents, understanding these trends might provide insights into the socio-economic factors at play within the county.
