Monroe County Real Estate and Livability Trends
Monroe County, Tennessee has seen a notable rise in average taxable income per tax return, surging from $41,252.92 in 2013 to $61,697.61 in 2021, suggesting economic growth and potentially making it a promising area for real estate investments. Median home values also shot up from $113,600 in 2015 to $174,800 by 2022, yet remain below state and national medians, making the county attractive for... Read more
Monroe County Market Trends
Median home values in Monroe County, Tennessee, have shown a significant appreciating trend, rising from $113,600 in 2015 to $174,800 by 2022. This growth, while robust, still places the county below both state and national median values, offering an appealing option for budget-conscious buyers. Notably, the average residential energy tax credit varied significantly, peaking at $1,366.67 in 2018,... Read more
Median Value of Occupied Housing Units in Monroe County, Tennessee Over the Last 8 Years
Median home values in Monroe County, Tennessee, have shown a steady rise over the last eight years, starting at $113,600 in 2015 and reaching $174,800 by 2022. Compared to Tennessee's overall median values, Monroe County started significantly lower but has experienced substantial growth. Tennessee's median values grew from $142,100 to $232,100 in the same period. Nationally, home values increased from $125,500 in 2015 to $179,400 by 2022, making Monroe County relatively more affordable. For those interested in real estate investment or moving to Monroe County, this upward trend indicates increasing property values, suggesting solid investment potential. However, it's still considerably more affordable than the state average, presenting an attractive option for budget-conscious buyers.
Residential Energy Tax Credit Per Tax Return in Monroe County, TN Over the Last 9 Years
Over the past nine years, Monroe County, Tennessee has experienced significant fluctuations in the average residential energy tax credit per tax return. Notably, in 2015, the average amount was $548.15, nearly doubling to $1,366.67 by 2018, suggesting perhaps an increase in energy-efficient home investments during that period. By 2021, the average credit slightly tapered to $1,105.26. These trends could reflect changing incentives or varying adoption rates of energy-saving initiatives among homeowners, offering key insights for potential investors and stakeholders in the local property market.
Average Real Estate Taxes Per Tax Return in Monroe County, TN Over the Last 10 Years
Real estate taxes per tax return in Monroe County, Tennessee have shown a notable upward trajectory over the last decade. Starting at approximately $1,819.50 in 2012, the average rose modestly until 2016 when it reached around $2,059.72. The increase became more pronounced from 2017 onward, peaking at about $3,856.86 in 2020 before a slight dip to $3,679.63 in 2021. This trend suggests a growing demand and possibly an appreciating real estate market, which could be relevant for investors, homeowners, and industry professionals monitoring the area’s economic health.
Percentage of Farm Returns in Monroe County, TN Over the Last 10 Years
Over the past decade, Monroe County, Tennessee has seen a general decline in the percentage of farm tax returns, dropping from around 3.78% in 2012 to roughly 3.05% in 2021. Farm tax returns reflect the number of farms filing taxes, which can serve as an indicator of agricultural activity and business health in the area. The slight but consistent downturn may suggest shifts in local economic activities or farming viability, and could impact decisions for potential investors, developers, or those considering moving to or residing in the county. Noteworthy years like 2016 and 2019 had steeper declines, potentially highlighting periods of significant economic or environmental challenges.
Number of Mortgages by Occupancy Type in Monroe County, TN Over the Last 5 Years in Monroe County
Mortgages for principal residences in Monroe County, Tennessee have been steadily dominant over the last five years, peaking at 2,883 in 2021, while investment properties and second residences have maintained more modest and relatively stable numbers. Changes in occupancy types suggest shifts in living preferences and economic conditions, key factors for potential investors, developers, and real estate professionals to consider. Knowledge of these trends can influence mortgage risk assessments, insurance premiums, and property value appraisals, all pivotal for making informed decisions in the local real estate market.
Economic Outlook
Monroe County, Tennessee has been showing a steady climb in average taxable income per tax return over the past nine years, jumping from $41,252.92 in 2013 to $61,697.61 in 2021. This hints at economic improvement and a wealthier population, potentially making the county an appealing spot for real estate investments. Average state and local income taxes have fluctuated but generally increased, reaching $9,353.85 by 2021, possibly reflecting higher incomes and regulatory changes. The rise in... Read more
Average Taxable Income per Tax Return in Monroe County, TN over the last 9 years
Over the past nine years, Monroe County, Tennessee has experienced a consistent uptick in average taxable income per tax return, beginning at $41,252.92 in 2013 and reaching $61,697.61 by 2021. This sustained growth provides a strong signal of economic improvement and potentially a more affluent populace, making it a promising area for real estate investments and new developments. Such trends might also impact property values, insurance premiums, and appraisals, all relevant to stakeholders in the housing market and fiscal planning industries.
Average State and Local Income Taxes Per Tax Return in Monroe County, TN Over the Last 10 Years
Monroe County, Tennessee has seen some interesting fluctuations in average state and local income taxes per tax return over the past decade. After a noticeable dip in 2014 to $5,000.00, the figures gradually increased, with a significant peak in 2018 at $8,920.00. By 2021, the average tax amount reached $9,353.85. This upward trend could suggest a combination of rising incomes and changing tax regulations, which may be essential for potential investors, real estate agents, and residents to consider.
Average Total Tax Liability Per Tax Return in Monroe County, TN Over the Last 10 Years
Over the last decade, Monroe County, Tennessee, has experienced a notable rise in the average total tax liability per tax return, moving from approximately $5,842.96 in 2012 to around $8,815.98 in 2021. This upward trend suggests that the area's economic landscape is evolving, potentially driven by factors such as increased property values or higher incomes. For prospective investors, real estate agents, and anyone interested in the region, this could indicate a growing market with an expanding tax base. However, it's also something for potential homeowners and insurance agents to consider, as rising tax liabilities may affect long-term financial planning and property costs.
Cost of Living in Monroe County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $991 | $1,412 | $1,730 | $969 | $673 |
| 1 adult 4 children | $991 | $1,153 | $1,322 | $969 | $693 |
| 2 adults 3 children | $991 | $1,153 | $1,501 | $969 | $512 |
| 1 adult 3 children | $991 | $941 | $1,094 | $969 | $496 |
| 2 adults 2 children | $747 | $944 | $1,272 | $858 | $472 |
| 1 adult 2 children | $747 | $705 | $865 | $858 | $396 |
| 2 adults 1 child | $747 | $746 | $1,044 | $500 | $497 |
| 1 adult 1 child | $747 | $482 | $636 | $500 | $404 |
| 2 adults | $600 | $599 | $815 | $0 | $458 |
| 1 adult | $499 | $327 | $407 | $0 | $384 |
Safety trends & Data
Property crime trends in Monroe County, Tennessee, present a few noteworthy shifts over the past five years. While arson cases remain low and stable, burglary and larceny-theft have fluctuated but still pose significant concerns. Fraud cases have almost doubled from 2018 to 2022, signaling a troubling rise. Motor vehicle theft and vandalism maintain sporadic yet notable activity, reflecting varied risks for property owners. Real estate and insurance professionals can leverage this data to offer... Read more
Property Crime Trends in Monroe County, TN Over the Last 5 Years
Property crime trends in Monroe County, Tennessee reveal interesting dynamics over the last five years. Arson seems relatively stable with low occurrences, while burglary and larceny-theft experienced some fluctuation but remain significant concerns. Notably, fraud cases nearly doubled from 2018 to 2022, suggesting a growing problem in that area. Motor vehicle theft and vandalism show sporadic but notable activity, indicating varied threats for property owners. Those looking to invest or move here should be aware of these trends for both safety and financial implications. For real estate agents and insurance agents, understanding this data can aid in providing more accurate advice to clients.
Demographics
Monroe County, Tennessee exhibits a slightly higher female population with 18,362 females compared to 17,906 males. The educational attainment shows a dominant high school graduate segment at 13,638, but only 3,581 individuals hold a Bachelor's degree, and even fewer have attained a graduate or professional degree at 1,652. The age distribution suggests an aging population with notable numbers in the 55 to 64 and 65 to 74 age brackets. Racially, the county is predominantly White at 41,740... Read more
Race Distribution in Monroe County, Tennessee (2022)
Educational Attainment in Monroe County, Tennessee (2022)
Age Distribution in Monroe County, Tennessee
Citizen Population in Monroe County, Tennessee (2022)
Political Trends & Data
In Monroe County, Tennessee, the 2020 U.S. Presidential Election results revealed a marked preference for the Republican party, capturing just over 80% of the vote. The Democrats trailed with approximately 18%, illustrating a significant but not absolute dominance. Minor parties, including Libertarian and Green, barely made a mark, with just over 1% collectively, hinting at a robust two-party preference among the electorate... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Monroe County in Tennessee showed a significant lean towards the Republican party in the 2020 U.S. Presidential Election, with just over 80% of the votes. Democrats received roughly 18%, indicating a clear preference but not an overwhelming dominance. Other parties, including Libertarian and Green, did not secure any substantial traction, collectively gathering slightly over 1% of the vote. This might suggest a strong two-party preference among the voters here.
80.70% of voters voted for the Republican party in the 2020 Presidential Election
18.10% of voters voted for the Democrat party in the 2020 Presidential Election
1.20% of voters voted for the Other party in the 2020 Presidential Election
School Data
Monroe County, Tennessee's student-to-teacher ratio has fluctuated over the past decade, ranging from 15 in 2018 to nearly 18 in 2015, often exceeding the national average of 14. These trends may influence decisions for potential residents, investors, and real estate professionals, especially regarding the local education system's quality. This data is crucial for appraisers and insurance agents as it could impact property values and risk... Read more
Student-to-teacher ratio in Monroe County, Tennessee over the last 10 years
Monroe County, Tennessee has seen fluctuations in its student-to-teacher ratio over the past decade, with values ranging from 15 in 2018 to nearly 18 students per teacher in 2015. Most years hover slightly above the national average of 14 students per teacher. These changes might influence decisions for potential residents, investors, or real estate professionals considering the quality of the local education system. This context is also critical for appraisers and insurance agents as it impacts property values and risk assessments.
