Shelby County Real Estate and Livability Trends
Shelby County, Tennessee's average taxable income per tax return has climbed from $55,549.94 in 2013 to $80,314.16 in 2021, which might hint at economic growth and potentially increasing property values. In contrast, rising state and local income taxes up to $14,410.85 by 2021 could impact the cost of living and influence real estate assessments. Median home values in the county reached $206,100... Read more
Shelby County Market Trends
Shelby County's median home values have consistently grown, hitting $206,100 in 2022, making it a more affordable option in Tennessee, which has a state median of $232,100. Interestingly, the county's real estate taxes have steadily climbed from $3,664.42 in 2012 to $5,940.29 in 2021, implying increased fiscal demands on property owners. Residential energy tax credits surged dramatically, from... Read more
Median Value of Occupied Housing Units in Shelby County, Tennessee Over the Last 8 Years
Shelby County's median home values have seen consistent growth over the past eight years, peaking at $206,100 in 2022. This trend, while impressive, falls behind Tennessee's state median of $232,100 for the same year, making Shelby County more affordable within the state. Nationally, Shelby County also surpasses the U.S. median of $179,400, highlighting its relative cost-effectiveness while indicating strong investment potential. This matters for investors and homebuyers eyeing regions with robust value appreciation but who might find Shelby County offers a more financially accessible option compared to both broader state and national averages.
Residential Energy Tax Credit Per Tax Return in Shelby County, TN Over the Last 9 Years
In Shelby County, Tennessee, there has been a significant upward trend in average residential energy tax credits per tax return over the last nine years. Starting at $326.59 in 2013, it surged to $1,193.65 by 2021. Notably, the most dramatic increase occurred between 2017 and 2018, with the average credit jumping from $694.98 to $1,531.54. This trend is particularly relevant for investors, real estate developers, and potential homeowners, indicating a strong incentive for energy-efficient home improvements, which could enhance property values and potentially lower long-term utility costs.
Average Real Estate Taxes Per Tax Return in Shelby County, TN Over the Last 10 Years
Over the past decade in Shelby County, Tennessee, the average real estate taxes per tax return have shown a steady increase, climbing from $3,664.42 in 2012 to $5,940.29 in 2021. Noteworthy spikes occurred between 2017 and 2018, where there was a jump from $4,432.42 to $5,301.88, and from 2018 to 2019, with an increase from $5,301.88 to $5,589.19. This trend suggests growing fiscal demands on property owners, potentially impacting decisions around property investment, development, and real estate pricing in the area. It might also influence insurance calculations, appraisals, and general market sentiment for both current and prospective residents.
Percentage of Farm Returns in Shelby County, TN Over the Last 10 Years
In Shelby County, Tennessee, the percentage of farm tax returns has seen a slight overall decline over the past decade, starting at approximately 0.34% in 2012 and dropping to around 0.28% by 2021. Farm tax returns, which indicate the number of filed income tax returns with farm income, are a useful metric for gauging agricultural activity and economic health in rural and semi-rural areas. This trend might suggest a shift away from farming or perhaps a consolidation of smaller farms into larger entities. Prospective investors or those looking to move here should consider these shifts as they potentially indicate changes in land use and local economic landscapes.
Number of Mortgages by Occupancy Type in Shelby County, TN Over the Last 5 Years in Shelby County
Shelby County, Tennessee has exhibited varied trends in mortgage origination for different types of properties over the last five years. Principal residences overwhelmingly dominate the market, peaking in 2020 with 48,446 mortgages, which suggests robust demand for primary homes. Investment property mortgages have seen a decent volume but appear to follow a declining trend from 7,451 in 2021 to 6,171 in 2022. This could indicate a potential cooling off of investment prospects. Mortgages for second residences remain relatively negligible, holding below 600 annually. Such shifts in mortgage counts matter as they reflect changes in market demand and economic stability, impacting investor decisions, property valuations, and risk assessments for insurance agents and appraisers alike.
Economic Outlook
Shelby County, Tennessee has shown a consistent rise in average taxable income per tax return, from $55,549.94 in 2013 to $80,314.16 in 2021, suggesting economic growth and potentially higher property values. Meanwhile, state and local income taxes have also increased, from $7,546.12 in 2012 to $14,410.85 in 2021, possibly reflecting policy shifts or broader economic changes. Additionally, the average total tax liability per tax return has peaked at $15,740.19 in 2021, indicating a growing tax... Read more
Average Taxable Income per Tax Return in Shelby County, TN over the last 9 years
Over the past nine years, Shelby County, Tennessee has seen a consistent rise in the average taxable income per tax return, with a notable increase from $55,549.94 in 2013 to $80,314.16 in 2021. This upward trend suggests a growing economic base, potentially making it an attractive prospect for investors, real estate agents, and insurance agents who might anticipate higher property values and demand. For those considering relocation or building property in the area, the rising incomes could imply better economic opportunities and community development.
Average State and Local Income Taxes Per Tax Return in Shelby County, TN Over the Last 10 Years
Shelby County, Tennessee has experienced fluctuations and overall growth in average state and local income taxes per tax return over the past decade. Notably, there was a significant rise from $7,546.12 in 2012 to $14,410.85 in 2021. Such trends could be indicative of broader economic changes or policy adjustments. Understanding these shifts is crucial for potential investors, property developers, and real estate agents to make informed decisions about tax implications in the area. Moreover, higher taxes could influence cost-of-living calculations for those considering relocation, while appraisers and insurance agents must contemplate these data for market assessments.
Average Total Tax Liability Per Tax Return in Shelby County, TN Over the Last 10 Years
Over the past decade, Shelby County, Tennessee, has seen a noteworthy upward trend in the average total tax liability per tax return, peaking most recently at $15,740.19 in 2021. This trend suggests a gradually increasing tax burden on residents, which may be indicative of rising incomes or changing tax policies. For potential investors, builders, and real estate agents, this trend is a critical factor to consider, as it could influence the overall cost of living and economic environment in the county.
Cost of Living in Shelby County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,374 | $1,544 | $1,769 | $1,152 | $865 |
| 1 adult 4 children | $1,374 | $1,261 | $1,351 | $1,152 | $951 |
| 2 adults 3 children | $1,374 | $1,262 | $1,535 | $1,152 | $689 |
| 1 adult 3 children | $1,374 | $1,030 | $1,118 | $1,152 | $740 |
| 2 adults 2 children | $1,039 | $1,033 | $1,302 | $1,059 | $607 |
| 1 adult 2 children | $1,039 | $771 | $884 | $1,059 | $552 |
| 2 adults 1 child | $1,039 | $816 | $1,068 | $757 | $637 |
| 1 adult 1 child | $1,039 | $527 | $651 | $757 | $524 |
| 2 adults | $908 | $656 | $835 | $0 | $532 |
| 1 adult | $806 | $358 | $417 | $0 | $451 |
Safety trends & Data
Shelby County, Tennessee has experienced varied property crime rates over the past five years, potentially influencing real estate valuations and insurance costs. Larceny-Theft, although the most frequent, peaked in 2018 with 4,717 incidents and decreased through 2022. Conversely, Motor Vehicle Theft saw a steady increase, reaching 871 cases in 2022. Burglary incidents declined from 738 in 2018 to 610 in 2022. These shifting crime trends may offer valuable insights for investors and appraisers... Read more
Property Crime Trends in Shelby County, TN Over the Last 5 Years
Shelby County, Tennessee has seen fluctuating property crime rates over the past five years, with notable changes in specific crime categories. Larceny-Theft consistently remains the highest, peaking in 2018 with 4,717 incidents, but showing a decreasing trend through 2022. In contrast, Motor Vehicle Theft steadily rose, reaching 871 cases in 2022. Burglary incidents also dropped from 738 in 2018 to 610 in 2022. Fraud and Forgery showed variability without a clear trend, while Vandalism and Stolen Property rates saw slight increases. These trends may be of interest to potential investors, appraisers, and insurance agents as they reflect changing risks and opportunities within the county.
Demographics
Shelby County, Tennessee shows a slight majority of female adults compared to males. Educational attainment is diverse, with a significant portion holding at least a high school diploma and a notable number achieving higher education degrees. The age distribution is relatively balanced, but there is a noticeable spike in the population aged 25 to 34 years. Racially, the county leans heavily towards Black or African American residents, outnumbering White residents by a substantial margin. These... Read more
Race Distribution in Shelby County, Tennessee (2022)
Educational Attainment in Shelby County, Tennessee (2022)
Age Distribution in Shelby County, Tennessee
Citizen Population in Shelby County, Tennessee (2022)
Political Trends & Data
Real estate trends in Shelby County, Tennessee, may be subtly influenced by its political leaning, with approximately 64% of votes cast for the Democratic candidate in the 2020 Presidential Election. This hints at a community that might prioritize policies around urban development and social services, potentially affecting property values and investment opportunities. With Republicans receiving about 34% of the vote, the area remains competitive, which could attract buyers and investors with... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Shelby County, Tennessee, the 2020 U.S. Presidential Election results show a possible Democratic leaning, with approximately 64% of votes cast for the Democratic candidate. Republicans garnered about 34% of the vote, indicating a competitive, though slightly less dominant position. The minimal percentage for "Other" parties suggests limited impact from third-party candidates in this region.
33.98% of voters voted for the Republican party in the 2020 Presidential Election
64.42% of voters voted for the Democrat party in the 2020 Presidential Election
1.61% of voters voted for the Other party in the 2020 Presidential Election
School Data
Shelby County, Tennessee has seen its student-to-teacher ratio peak at 22:1 in 2017, dropping to about 16:1 by 2023, still above the national average of 14:1. These fluctuations highlight potential concerns about classroom quality and individual attention. For investors, real estate agents, and relocators, this may indicate a need for continued educational investments. Recent lower ratios may suggest improved resource allocation and hiring, potentially boosting property... Read more
Student-to-teacher ratio in Shelby County, Tennessee over the last 10 years
Over the past decade, Shelby County, Tennessee has experienced significant fluctuations in its student-to-teacher ratio, peaking at 22 students per teacher in 2017 and dropping to around 16 by 2023. These ratios generally remain above the national average of 14 students per teacher, raising potential concerns on the quality and individual attention in classrooms. For investors, real estate agents, and those considering relocation, these ratios may hint at the need for continued educational investments and potentially more competitive school environments. Lower ratios in recent years could suggest a positive trend towards better resource allocation and hiring practices, enhancing overall educational quality and potentially increasing property desirability in Shelby County.
