Knox County Real Estate and Livability Trends
Knox County, Tennessee has experienced a notable rise in average taxable income, from $61,466.35 in 2013 to $96,866.85 by 2021, suggesting strengthened local economy and higher property values. Median home values have climbed to $248,200 in 2022, outpacing state and national trends, hinting at strong local demand and investment potential. The county's declining poverty rate from 14.6% in 2013 to... Read more
Knox County Market Trends
Median home values in Knox County, Tennessee have steadily risen to $248,200 by 2022, outpacing state and national figures, which could indicate stronger local demand or investment opportunities. The average residential energy tax credit has shown volatility, peaking at $2,085.71 in 2018 before settling at $872.11 in 2021, suggesting inconsistent but notable interest in energy-efficient home... Read more
Median Value of Occupied Housing Units in Knox County, Tennessee Over the Last 8 Years
Median home values in Knox County, Tennessee have experienced a steady rise over the past eight years, reaching $248,200 in 2022, which indicates a robust growth trajectory compared to both the state and national levels. While Tennessee's median home value peaked at $232,100 and the national figure at $179,400 in the same year, Knox County's more pronounced increase might highlight stronger local demand or investment opportunities. This substantial rise could be of interest to investors and potential buyers considering the area, as it may signal a thriving real estate market with significant growth potential.
Residential Energy Tax Credit Per Tax Return in Knox County, TN Over the Last 9 Years
Over the last nine years in Knox County, Tennessee, the average residential energy tax credit per tax return has shown considerable volatility. From a modest $348.25 in 2013, there was a sharp surge to $2,085.71 in 2018, before falling back to $872.11 in 2021. This indicates a significant but unpredictable interest in energy-efficient home improvements, which could appeal to potential investors or homeowners prioritizing sustainability and potential tax savings. Real estate agents and property developers might find this trend useful as it hints at the area's growing inclination towards energy-efficient upgrades, potentially increasing property values and market appeal.
Average Real Estate Taxes Per Tax Return in Knox County, TN Over the Last 10 Years
Over the past decade, Knox County, Tennessee has seen a steady increase in average real estate taxes per tax return. Starting at $2,199.96 in 2012, the average rose gradually each year, reaching $2,656.86 by 2017. However, a significant jump can be observed from 2018 onward, where figures escalated sharply from $3,758.77 to $4,575.90 by 2021. This trend could indicate increasing property values or changes in tax policies, both of which could interest investors, real estate agents, and prospective homeowners evaluating the area's financial landscape.
Percentage of Farm Returns in Knox County, TN Over the Last 10 Years
The percentage of farm tax returns in Knox County, Tennessee, over the last 10 years appears to show a gradual decline, starting from around 0.66% in 2012 and dropping to approximately 0.48% in 2021. Farm tax returns typically represent the segment of the population engaged in agricultural activities who file specific tax documents on their farm income. This trend might hint at a decreasing number of individuals or entities engaged in farming or could be reflective of broader economic or development patterns in the region. For investors or those contemplating a move to Knox County, this could suggest changing land use priorities, perhaps towards residential or commercial development. This decline could be relevant for gauging the future landscape and economic opportunities within the county.
Number of Mortgages by Occupancy Type in Knox County, TN Over the Last 5 Years in Knox County
Knox County, Tennessee has seen a notable fluctuation in mortgage counts for different occupancy types over the last five years, with a marked dominance of principal residences followed distantly by investment properties and second residences. The spike in principal residence mortgages in 2021, followed by a sharp drop in 2022, could signal shifting economic conditions or buyer sentiment. For investors and real estate agents, these trends might suggest the potential for volatility in the investment property market, while the lower volume of second residence mortgages might indicate limited demand or opportunities in this segment. Such changes in occupancy type can alter property values, insurance risk assessments, and development projects, which can impact decisions for those looking to move to, invest in, or develop real estate in the area.
Economic Outlook
Knox County, Tennessee has seen a steady rise in average taxable income per tax return from around $61,466.35 in 2013 to approximately $96,866.85 by 2021, indicating a strengthening local economy and higher property values. Average state and local income taxes have similarly increased, peaking at $39,504.91 in 2021, potentially reflecting rising incomes. Average total tax liability per tax return has also climbed, from about $12,211.79 in 2012 to $18,621.09 in 2021, suggesting shifts in... Read more
Average Taxable Income per Tax Return in Knox County, TN over the last 9 years
Over the past nine years, Knox County, Tennessee has seen a steady rise in average taxable income per tax return. Starting at around $61,466.35 in 2013, the figures have climbed to approximately $96,866.85 by 2021. Notable surges were observed in 2014 and 2018, with the most significant jump occurring between 2020 and 2021, suggesting potential economic resilience or growth during that period. This upward trend could indicate a strengthening local economy, making Knox County an attractive prospect for investors, movers, and real estate professionals. This gradual increase also holds value for appraisers and insurance agents as it may reflect higher property values and living standards.
Average State and Local Income Taxes Per Tax Return in Knox County, TN Over the Last 10 Years
Over the last decade, average state and local income taxes per tax return in Knox County, Tennessee, have generally seen an upward trend, starting at $12,862.20 in 2012 and peaking at $39,504.91 in 2021. Notable jumps occurred in 2013 and 2017, with significant increases of about $10,000 and $8,000 respectively compared to preceding years. The fluctuations suggest a growing economic base and possibly rising incomes, making this an intriguing market for potential investors, real estate agents, and those considering moving to the area. Higher tax liabilities might also influence appraisers and insurance agents as they assess the economic landscape.
Average Total Tax Liability Per Tax Return in Knox County, TN Over the Last 10 Years
Knox County, Tennessee has experienced a noticeable upward trend in average total tax liability per tax return over the past decade, with figures climbing from around $12,211.79 in 2012 to approximately $18,621.09 in 2021. The most significant increases occurred in recent years, particularly between 2019 and 2021, suggesting possible changes in local economic conditions or tax policies. This trend may be of interest to potential investors, property developers, and real estate agents as it could indicate rising incomes or property values in the area, which could in turn affect market dynamics and investment decisions. Appraisers and insurance agents might also need to adjust their evaluations and offerings in response to these financial shifts.
Cost of Living in Knox County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,573 | $1,597 | $1,767 | $1,152 | $980 |
| 1 adult 4 children | $1,573 | $1,304 | $1,350 | $1,152 | $1,096 |
| 2 adults 3 children | $1,573 | $1,304 | $1,534 | $1,152 | $795 |
| 1 adult 3 children | $1,573 | $1,065 | $1,117 | $1,152 | $876 |
| 2 adults 2 children | $1,207 | $1,068 | $1,301 | $1,059 | $679 |
| 1 adult 2 children | $1,207 | $798 | $884 | $1,059 | $644 |
| 2 adults 1 child | $1,207 | $844 | $1,067 | $757 | $706 |
| 1 adult 1 child | $1,207 | $545 | $650 | $757 | $588 |
| 2 adults | $994 | $678 | $834 | $0 | $573 |
| 1 adult | $926 | $370 | $417 | $0 | $494 |
Safety trends & Data
Property crime in Knox County, Tennessee, has seen a remarkable decline over the last five years. Burglary dropped from 443 cases in 2018 to 261 in 2022, and larceny-theft plummeted from 2,379 to 1,182, suggesting a perceived boost in safety. Although arson and motor vehicle theft remain steady, the overall trend points to a safer living environment, which is attractive to potential investors and new residents. Despite this progress, stable vandalism rates indicate a need for ongoing community... Read more
Property Crime Trends in Knox County, TN Over the Last 5 Years
Property crime in Knox County, Tennessee, has shown a notable decline over the past five years. While arson and motor vehicle theft remain relatively stable, the significant drop in burglary from a high of 443 cases in 2018 to 261 in 2022, and larceny-theft from 2,379 to 1,182 in the same period, indicate a positive trend in crime reduction. Embezzlement and forgery cases also display some fluctuation but generally follow a downward trajectory. These trends offer potential investors, real estate agents, and those considering relocation, reassurance of a progressively safer environment, reflected in decreasing crime statistics. However, vandalism incidents remain somewhat consistent, requiring a continued focus on community safety initiatives.
Demographics
Knox County, Tennessee, showcases a fairly balanced gender demographic with a slight majority of females over males. Educational attainment is diverse, with a significant portion holding at least a high school diploma, and quite a noticeable number of residents having some college experience or higher degrees. The age distribution suggests a relatively young population, bolstered by a substantial segment in the 25 to 34 age range. Racially, the county is predominantly White, though there exists... Read more
Race Distribution in Knox County, Tennessee (2022)
Educational Attainment in Knox County, Tennessee (2022)
Age Distribution in Knox County, Tennessee
Citizen Population in Knox County, Tennessee (2022)
Political Trends & Data
Knox County, Tennessee, leaned heavily Republican in the 2020 Presidential Election with approximately 56% of the vote going to the GOP, while Democrats secured about 41%. Though the area shows a solid Republican presence, the considerable Democratic support indicates a diverse political landscape that could influence community preferences and public policies affecting the real estate... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Knox County, Tennessee, leaned Republican in the 2020 U.S. Presidential Election, with around 56% of the vote. Democrats garnered about 41%, while other parties collectively brought in just over 2%. This suggests a strong Republican presence, though Democratic support also plays a significant role.
56.47% of voters voted for the Republican party in the 2020 Presidential Election
41.45% of voters voted for the Democrat party in the 2020 Presidential Election
2.08% of voters voted for the Other party in the 2020 Presidential Election
School Data
In Knox County, Tennessee, the student-to-teacher ratio has stabilized closer to the national average in 2023, down from a peak of 19 in 2015. This decline suggests a potential improvement in educational quality, which could make the area more attractive to families and likely uplift real estate values. Investors and developers might find this trend significant as it points to a higher demand for housing in areas with better schools, while insurance agents could anticipate demographic shifts... Read more
Student-to-teacher ratio in Knox County, Tennessee over the last 10 years
Over the past decade, the student-to-teacher ratio in Knox County, Tennessee has seen fluctuations, peaking at 19 in 2015 and stabilizing closer to the current national average by 2023. This trend indicates that while class sizes were larger several years ago, recent efforts may have been directed at reducing them. This could positively impact real estate values and attract families seeking better educational environments. Lower ratios suggest potentially higher quality of education, making the area more desirable for prospective homeowners. For investors and developers, understanding these metrics can guide decisions on where to build or buy properties. Also, insurance agents might note the demographic shifts that often accompany these educational changes.
