Rhea County Real Estate and Livability Trends
Rhea County, Tennessee, has seen average taxable income per tax return climb from around $42,160.50 in 2013 to $58,819.61 in 2021. Fluctuations in state and local taxes and total tax liability suggest shifts in economic conditions, presenting unique challenges and opportunities for real estate investors. Median home values rose from $106,400 in 2015 to $155,800 in 2022, staying well below... Read more
Rhea County Market Trends
The median home values in Rhea County, Tennessee, have seen a notable rise, climbing from $106,400 in 2015 to $155,800 in 2022. Despite this growth, prices remain significantly lower than both Tennessee and national averages, potentially making the area an appealing choice for cost-conscious investors and new residents. Residential energy tax credits per tax return have surged to $955.56 by 2021,... Read more
Median Value of Occupied Housing Units in Rhea County, Tennessee Over the Last 8 Years
The median home values in Rhea County, Tennessee have shown a steady increase over the past eight years, climbing from $106,400 in 2015 to $155,800 in 2022. While this upward trend is consistent with broader state and national trends, Rhea County's values remain lower. In contrast, the median value in Tennessee surged from $142,100 in 2015 to $232,100 in 2022, and at the national level, home values jumped from $125,500 to $179,400 during the same period. This makes Rhea County an intriguing area for potential investors or those looking to move, as it offers more affordable property options compared to both state and national averages while still experiencing healthy growth.
Residential Energy Tax Credit Per Tax Return in Rhea County, TN Over the Last 8 Years
Rhea County, Tennessee has seen a noteworthy increase in residential energy tax credits per tax return over the past eight years. From a modest $305.26 in 2013, the average amount spiked to $955.56 by 2021. This could suggest growing investments in energy-efficient home improvements, making the area potentially attractive for eco-conscious buyers, savvy investors, and supportive policy advocates. Real estate agents and appraisers might see increased property values linked to energy-efficient homes, while insurance agents could note lower risks attached to such properties.
Average Real Estate Taxes Per Tax Return in Rhea County, TN Over the Last 10 Years
Rhea County, Tennessee has seen a notable rise in average real estate taxes per tax return over the past decade, peaking at $3,438.71 in 2020 from $1,355.90 in 2012. The most significant jumps were observed between 2017 and 2018, where taxes surged by almost $1,000. This information might suggest potential investors or homebuyers will encounter higher carrying costs over time, impacting affordability and investment returns. These trends could be critical for property appraisers, real estate agents, and even insurance agents who need to account for escalating property expenses in the area.
Percentage of Farm Returns in Rhea County, TN Over the Last 10 Years
The percentage of farm tax returns in Rhea County, Tennessee over the last decade has fluctuated slightly but remained relatively stable, hovering around 3%. These returns reflect the proportion of filed tax documents claiming farm income, providing some insight into the agricultural presence in the county. For investors, builders, or potential residents, this consistent activity in farm tax returns may hint at a steady agricultural sector, contributing to the local economy and influencing land use patterns.
Number of Mortgages by Occupancy Type in Rhea County, TN Over the Last 5 Years in Rhea County
In Rhea County, Tennessee, the mortgage patterns over the past five years suggest a notable increase in principal residence mortgages, peaking in 2021 at 1803. Second residences have shown more variability, spiking in 2020 with 102 mortgages but seeing a decline by 2022. Investment property mortgages have remained relatively stable but consistently lower than principal and second residence categories. Changes in occupancy type could hint at broader economic trends, reflecting shifts in primary residency choices perhaps due to employment opportunities or regional appeal. For investors, real estate agents, insurance agents, and appraisers, understanding these trends might offer insights into market demand, property valuation shifts, and potential insurance risk adjustments. Those considering building property or moving to the area may find the stability in investment property numbers reassuring while also noting the competitive landscape for principal residences.
Economic Outlook
In Rhea County, Tennessee, the average taxable income per tax return has steadily risen from about $42,160.50 in 2013 to $58,819.61 in 2021, hinting at a potentially strengthening local economy. The average state and local income taxes have seen significant fluctuations, declining to roughly $4,855.56 in 2016 before bouncing back to $8,100.00 by 2020, and then settling at around $6,600.00 in 2021. These variations might indicate shifts in tax policies or economic conditions, presenting both... Read more
Average Taxable Income per Tax Return in Rhea County, TN over the last 9 years
In Rhea County, Tennessee, the average taxable income per tax return has shown steady growth over the past nine years, increasing from approximately $42,160.50 in 2013 to about $58,819.61 in 2021. This upward trend could be indicative of a strengthening local economy and rising incomes, which may attract potential investors, homebuyers, and real estate developers. For insurance agents and appraisers, these figures suggest a progressively wealthier client base, while existing residents might view this income growth as a sign of improving economic stability and prosperity in the region.
Average State and Local Income Taxes Per Tax Return in Rhea County, TN Over the Last 10 Years
Rhea County, Tennessee has witnessed significant fluctuations in average state and local income taxes per tax return over the past decade. In 2012, the taxes averaged around $6,143.75 but saw a notable decline to approximately $4,855.56 by 2016, indicating potential shifts in economic conditions or tax policies. Interestingly, these figures rebounded sharply to $8,100.00 by 2020 before settling at about $6,600.00 in 2021. This variability may suggest evolving tax structures or changing income levels in the region, presenting both opportunities and challenges for potential investors, real estate agents, and those involved in economic planning or appraisals.
Average Total Tax Liability Per Tax Return in Rhea County, TN Over the Last 10 Years
Over the last decade, Rhea County, Tennessee has seen a fluctuating trend in average total tax liability per tax return, with notable spikes and dips. For instance, while the liability was approximately $6,131.49 in 2012, it dropped to $5,736.27 in 2013, and then experienced a significant rise to $8,098.58 by 2021. This variability may imply shifting economic conditions and income levels, making it an important factor for those considering investment or real estate opportunities in the area. Potential investors and residents might find the recent increase noteworthy, as it could reflect strengthening economic growth or increased income levels among residents.
Cost of Living in Rhea County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,019 | $1,448 | $1,815 | $969 | $717 |
| 1 adult 4 children | $1,019 | $1,182 | $1,388 | $969 | $744 |
| 2 adults 3 children | $1,019 | $1,183 | $1,575 | $969 | $545 |
| 1 adult 3 children | $1,019 | $966 | $1,148 | $969 | $532 |
| 2 adults 2 children | $747 | $968 | $1,334 | $858 | $492 |
| 1 adult 2 children | $747 | $723 | $908 | $858 | $414 |
| 2 adults 1 child | $747 | $765 | $1,094 | $500 | $514 |
| 1 adult 1 child | $747 | $494 | $667 | $500 | $415 |
| 2 adults | $567 | $615 | $854 | $0 | $462 |
| 1 adult | $564 | $335 | $427 | $0 | $409 |
Safety trends & Data
In Rhea County, Tennessee, property crime data reveals a sometimes shifting environment for potential investors and homeowners. Larceny-Theft saw a significant spike in 2020 with 94 incidents, though other years have shown fewer incidents, suggesting a possible temporary concern. Meanwhile, Burglary incidents have declined from 24 in 2019 to just 13 in 2022, hinting at better security or community efforts. Motor Vehicle Theft peaked at 28 cases in 2020 but generally stays in the mid-teens. The... Read more
Property Crime Trends in Rhea County, TN Over the Last 5 Years
In Rhea County, Tennessee, property crime trends over the last five years indicate a fluctuating landscape for potential investors and homeowners. Larceny-Theft peaked notably in 2020 with 94 incidents, a significant rise from previous and later years, suggesting a possible temporary hotspot for this specific crime. Burglary incidents appear to have decreased steadily from 24 in 2019 to just 13 in 2022, potentially indicating improved security measures or community vigilance. Motor Vehicle Theft saw a high in 2020 with 28 cases, but numbers seem to hover around the mid-teens in other years. Noteworthy is the consistent yet low frequency of Forgery and Counterfeiting as well as Fraud, which may indicate less economic crimes compared to other property crimes. This data can help real estate professionals, appraisers, and insurance agents to assess risk and inform clients more accurately.
Demographics
Rhea County, Tennessee, shows a near-even split in gender distribution with a slightly higher number of females. Educational attainment is diverse, but a significant portion of the population has graduated high school or holds some college degree, which could influence the local economy and job market. Age distribution suggests a balanced mix of younger and older residents, with a noticeable percentage in the 25-34 and 45-54 age brackets, potentially affecting housing and service demands.... Read more
Race Distribution in Rhea County, Tennessee (2022)
Educational Attainment in Rhea County, Tennessee (2022)
Age Distribution in Rhea County, Tennessee
Citizen Population in Rhea County, Tennessee (2022)
Political Trends & Data
In Rhea County, Tennessee, a sizable 81% of voters leaned Republican in the 2020 Presidential Election, with Democrats receiving just under 18% of the vote. This overwhelming preference for conservative candidates might indicate a community with strongly held conservative values, which could shape local politics and policies, affecting everything from zoning laws to community planning. Such a political climate could impact investor and developer expectations, influencing the appeal and... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Rhea County, Tennessee, an overwhelming 81% of the vote leaned Republican in the 2020 U.S. Presidential Election, while Democrats garnered just under 18%. Voters showed negligible support for third parties, with other candidates collectively barely reaching 2%. This trend could suggest a deeply entrenched preference for conservative policies among its residents, potentially influencing local political strategies and community dynamics.
81.03% of voters voted for the Republican party in the 2020 Presidential Election
17.37% of voters voted for the Democrat party in the 2020 Presidential Election
1.60% of voters voted for the Other party in the 2020 Presidential Election
School Data
Rhea County, Tennessee has seen its student-to-teacher ratio hover between 14 and 15 over the past decade, aligning closely with the national average. Marginal decreases were noted in years like 2016, 2018, and 2021, hinting at efforts towards smaller class sizes. This stability in education quality could be attractive to families and influence long-term community and property values, offering valuable insights for investors and real estate... Read more
Student-to-teacher ratio in Rhea County, Tennessee over the last 10 years
Over the past decade, Rhea County, Tennessee has seen its student-to-teacher ratio fluctuate between 14 and 15, closely mirroring the national average of 14 students per teacher. While there have been minor ups and downs, the overall trend suggests relative stability. Marginal decreases in the ratio, such as those seen in 2016, 2018, and 2021, might indicate efforts toward smaller class sizes, which could appeal to families seeking a more personalized education experience for their children. Conversely, slight increases may result in larger classes, impacting individualized attention from teachers. For investors, real estate agents, and those considering moving to the area, these trends could be indicative of the county’s commitment to education quality, an important factor when assessing long-term community and property value.
