Polk County Real Estate and Livability Trends
Polk County, Tennessee's average taxable income surged from $40,903.92 in 2013 to $56,330.57 in 2021, hinting at growing economic health. This might reflect in the real estate market, as median home values have risen from $109,100 in 2015 to $128,200 in 2022, though at a slower pace than the state and national averages. Increased residential energy tax credits in 2021 suggest a trend toward... Read more
Polk County Market Trends
Over the past 8 years, Polk County, Tennessee has seen median home values rise moderately from $109,100 in 2015 to $128,200 in 2022, slower than Tennessee's overall jump and the national rise. Residential energy tax credits per tax return spiked significantly in 2021, reaching an average of $683.33, likely indicating growing investments in energy-efficient home improvements. Average real estate... Read more
Median Value of Occupied Housing Units in Polk County, Tennessee Over the Last 8 Years
Over the last 8 years, Polk County, Tennessee has seen its median home values rise from $109,100 in 2015 to $128,200 in 2022. While the increase is consistent, it appears to be more moderate compared to Tennessee's overall jump from $142,100 to $232,100 in the same period, and significantly lower than the national rise from $125,500 to $179,400. This slower growth might appeal to investors looking for more stability, while potential homeowners might find Polk County relatively more affordable.
Residential Energy Tax Credit Per Tax Return in Polk County, TN Over the Last 8 Years
Polk County, Tennessee has shown notable fluctuations in residential energy tax credits per tax return over the past eight years. Most striking is the significant spike in 2021, reaching an average of $683.33, suggesting a potentially growing investment in energy-efficient home improvements. This could indicate increasing homeowner awareness or favorable policies incentivizing energy efficiency. Real estate agents and investors might view this trend as a sign of an evolving market that values sustainability, while appraisers and insurance agents might expect homes in this area to have enhanced energy-efficient features, possibly affecting property valuations and insurance premiums.
Average Real Estate Taxes Per Tax Return in Polk County, TN Over the Last 10 Years
Polk County, Tennessee has seen a considerable increase in average real estate taxes per tax return over the past decade, starting from approximately $1,616.67 in 2012 to about $3,221.43 in 2021. Notable peaks in 2018 ($2,336.84) and particularly in 2020 ($3,373.33) highlight a significant upward trend. This escalation could suggest economic growth or rising property values, relevant for investors, real estate agents, and property developers. Potential homeowners and insurance agents might find this pattern useful when evaluating future tax liabilities and property valuations.
Percentage of Farm Returns in Polk County, TN Over the Last 10 Years
Over the last 10 years, the percentage of farm returns in Polk County, Tennessee has generally fluctuated between 3.14% and 3.91%. Tax returns indicate that while there is some variability, the proportion of farm-based income in the region has shown a slight downward trend. Farm tax returns are filed by agricultural producers who report their income and expenses related to farming efforts. This is essential for those looking to invest or build in Polk County since it reflects the economic backdrop and stability of the local agricultural sector.
Number of Mortgages by Occupancy Type in Polk County, TN Over the Last 5 Years in Polk County
Polk County, Tennessee has seen significant fluctuations in mortgage numbers across different occupancy types over the past five years. Principal residence mortgages consistently dominate, peaking at 896 in 2021 and suggesting steady demand for primary housing. Investment property mortgages and second residences, although much lower in volume, have shown small but notable variations, with investment properties peaking at 36 in 2022. Such changes in occupancy types may impact market dynamics, including property values and rental demand, making this data crucial for investors, real estate agents, appraisers, and insurers in shaping their strategies and expectations for the area's real estate landscape.
Economic Outlook
Polk County, Tennessee has seen a significant rise in average taxable income per tax return, from about $40,903.92 in 2013 to around $56,330.57 in 2021, possibly indicating growing economic strength and affluence. Similarly, average state and local income taxes per tax return have increased, peaking at $7,650.00 in 2020, which may reflect a stronger economic base and rising incomes. The average total tax liability per tax return has also fluctuated, hitting $7,496.91 in 2021 from $5,253.40 in... Read more
Average Taxable Income per Tax Return in Polk County, TN over the last 9 years
Polk County, Tennessee has experienced a notable upward trend in average taxable income per tax return over the last nine years, increasing from approximately $40,903.92 in 2013 to around $56,330.57 by 2021. This consistent rise, especially marked in recent years, potentially signals economic growth and increasing affluence in the area. For those looking to invest or build property, this trend suggests a strengthening local economy, which could positively impact property values and market stability. Appraisers and insurance agents might also find this data useful to gauge the financial well-being of residents and forecast future economic conditions.
Average State and Local Income Taxes Per Tax Return in Polk County, TN Over the Last 10 Years
Over the past decade, Polk County, Tennessee, has experienced a noticeable upward trend in average state and local income taxes per tax return, peaking at $7,650.00 in 2020. These figures suggest a potentially growing economic base and rising incomes, which could be appealing for investors, real estate agents, and home buyers looking for areas of development. However, the increase in tax amounts may also impact financial planning for residents and should be considered by appraisers and insurance agents when assessing property values and insurance needs.
Average Total Tax Liability Per Tax Return in Polk County, TN Over the Last 10 Years
Over the last decade in Polk County, Tennessee, the average total tax liability per tax return has shown noteworthy fluctuation, peaking at $7,496.91 in 2021 after a gradual increase from $5,253.40 in 2014. Notable jumps occurred in 2016 and 2020, with liabilities reaching $6,177.58 and $6,475.43 respectively. This upward trend, although not steady, may suggest increasing economic activity or rising incomes, pointing to a potential market for investment or property development. For real estate agents and insurers, understanding these tax liability trends could be crucial in advising clients and assessing property values.
Cost of Living in Polk County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $917 | $1,540 | $1,852 | $899 | $720 |
| 1 adult 4 children | $917 | $1,258 | $1,416 | $899 | $760 |
| 2 adults 3 children | $917 | $1,258 | $1,608 | $899 | $555 |
| 1 adult 3 children | $917 | $1,027 | $1,171 | $899 | $517 |
| 2 adults 2 children | $699 | $1,030 | $1,363 | $820 | $504 |
| 2 adults 1 child | $699 | $814 | $1,118 | $564 | $540 |
| 1 adult 2 children | $699 | $769 | $926 | $820 | $419 |
| 1 adult 1 child | $699 | $526 | $681 | $564 | $432 |
| 2 adults | $531 | $654 | $873 | $0 | $471 |
| 1 adult | $496 | $357 | $437 | $0 | $398 |
Safety trends & Data
In Polk County, Tennessee, there have been noticeable fluctuations in property crimes over the past five years. Larceny-theft was the most prevalent, peaking at 31 incidents in 2019. Burglary, however, has seen a declining trend from 17 in 2018 to 9 in 2022. Motor vehicle theft has remained relatively stable with minor dips and increases. Categories like fraud and vandalism are consistently lower but show minor year-over-year variations. These mixed trends could be promising for investors and... Read more
Property Crime Trends in Polk County, TN Over the Last 5 Years
For those interested in Polk County, Tennessee, there are noticeable fluctuations in property crimes over the past five years. Larceny-theft has been the most prevalent, peaking at 31 in 2019, while burglary shows a downward trend from 17 in 2018 to 9 in 2022. Motor vehicle theft remains relatively stable but saw a dip in 2020 and slight increases thereafter. Instances of fraud and vandalism are consistently lower but exhibit minor variations year-over-year. Overall, the data suggests mixed trends with some categories declining, which could be positive for investors and new residents assessing safety and security.
Demographics
Polk County, Tennessee displays a nearly balanced gender distribution with just a slight edge towards females in its adult population. Educational attainment within the county leans heavily towards high school graduates, yet the number of residents pursuing higher degrees, while present, is considerably lower. Age-wise, there's a notable clustering of residents aged 45 to 64 years, indicative of an aging population with fewer young adults. The overwhelming majority of the population identifies... Read more
Race Distribution in Polk County, Tennessee (2022)
Educational Attainment in Polk County, Tennessee (2022)
Age Distribution in Polk County, Tennessee
Citizen Population in Polk County, Tennessee (2022)
Political Trends & Data
Polk County, Tennessee displayed a notable preference for Republican candidates in the 2020 U.S. Presidential Election, with over 81.20% of the vote. Democrats managed about 17.80%, indicating a significant inclination towards conservative policies. Consequently, the area might offer a predictable political environment with limited electoral... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Polk County in Tennessee showed a significant leaning towards the Republican party in the 2020 U.S. Presidential Election, with over 81.2% of the vote. Democrats garnered approximately 17.8%, while other parties barely made a mark. This suggests that Polk County is likely to be a stronghold for conservative candidates and policies, showcasing a potentially limited political diversity in voter preferences.
81.24% of voters voted for the Republican party in the 2020 Presidential Election
17.85% of voters voted for the Democrat party in the 2020 Presidential Election
0.91% of voters voted for the Other party in the 2020 Presidential Election
School Data
Polk County, Tennessee has seen its student-to-teacher ratio fluctuate significantly over the past decade, with notable spikes to 27 students per teacher in 2020 and 2022. This variability might signal temporary issues worth investigating. Recently, the ratio dipped to 12 students per teacher in 2023, indicating a potential increase in educational quality and individualized attention. Such changes can influence property values, appraisals, and real estate investment, as school quality often... Read more
Student-to-teacher ratio in Polk County, Tennessee over the last 10 years
Over the last decade, Polk County, Tennessee has seen fluctuations in its student-to-teacher ratio, which could impact various stakeholders. Most years stayed relatively close to the national average of 14 students per teacher, but drastic spikes in 2020 and 2022, where ratios ballooned to 27, suggest possible temporary issues or anomalies that stakeholders might want to investigate further. The recent dip to 12 students per teacher in 2023 is promising for those valuing more individualized attention in education. These shifts might matter in appraisals, insurance considerations, and real estate investment, as school quality often influences property values and desirability of locations.
