Smith County Real Estate and Livability Trends
Smith County, Tennessee's real estate market has shown remarkable resilience and growth. Home values have nearly doubled from $114,000 in 2015 to $200,500 in 2022, outpacing both state and national averages, signaling strong investment potential. The rise in total tax liability per tax return and the fluctuations in student-to-teacher ratios and property crimes could influence the desirability of... Read more
Smith County Market Trends
Home values in Smith County, Tennessee have experienced remarkable growth, jumping from $114,000 in 2015 to $200,500 in 2022, outpacing both state and national averages. This trend could signify strong investment potential, particularly for those considering property developments or relocations to the area. Meanwhile, energy tax credits have shown significant volatility, with credits rising from... Read more
Median Value of Occupied Housing Units in Smith County, Tennessee Over the Last 8 Years
The median home values in Smith County, Tennessee have surged dramatically over the last eight years, climbing from $114,000 in 2015 to $200,500 in 2022. This growth significantly outpaces both the state of Tennessee, which saw home values rise from $142,100 to $232,100, and the national average, which increased from $125,500 to $179,400. Such rapid appreciation may suggest strong investment potential in Smith County compared to broader trends. This upward trend could be pivotal for those considering real estate investments, building new properties, or relocating to Smith County, as it indicates a robust and growing market.
Residential Energy Tax Credit Per Tax Return in Smith County, TN Over the Last 8 Years
Smith County, Tennessee has seen significant fluctuations in residential energy tax credits over the past eight years, indicating a dynamic market with potential energy efficiency investments. The average tax credit per return soared from $283.33 in 2013 to a peak of $842.86 in 2020, suggesting notable increases in energy-efficient home improvements. However, it's worth noting the volatility, such as the dip to $300.00 in 2016 and the sharp rise in subsequent years. This trend may attract investors and homeowners looking to capitalize on energy savings and state incentives, offering unique opportunities for real estate agents and developers focused on sustainable building.
Average Real Estate Taxes Per Tax Return in Smith County, TN Over the Last 10 Years
Over the past decade, Smith County, Tennessee has seen a notable increase in average real estate taxes per tax return. Starting at $1,265.63 in 2012, it has progressively risen each year, reaching $4,288.24 by 2021. This trend potentially indicates a rise in property values or changes in tax policies, which might be of interest to potential investors, property developers, and real estate professionals. These data points suggest that those involved in property-related activities in Smith County should be mindful of increasing tax liabilities which could influence investment returns and housing affordability.
Percentage of Farm Returns in Smith County, TN Over the Last 10 Years
Smith County, Tennessee has seen a general decline in the percentage of farm tax returns over the past decade, starting from around 11.35% in 2012 and dropping to about 8.44% in 2021. Farm tax returns reflect the number of tax filings by farm businesses, hinting at shifts in agriculture's economic health and its role in the local economy. This trend might indicate that fewer farms are operating or that farm revenues are compressing, which could influence land values, investment opportunities, and the rural character of the county. For those looking to invest in agricultural properties or considering the economic landscape, this data may suggest a need for careful assessment of long-term viability and potential challenges in the agriculture sector.
Number of Mortgages by Occupancy Type in Smith County, TN Over the Last 5 Years in Smith County
Smith County, Tennessee has seen a notable fluctuation in mortgage counts by occupancy type over the past five years. Principal residences consistently dominate, peaking in 2021 with 1,420 mortgages but then declining slightly in 2022. Investment properties have shown a gradual increase, while second residences remain a minor segment with minimal changes. These shifts in occupancy type matter because they suggest a growing investor interest and a stabilizing but still dominant preference for primary homes. For investors, the uptick in investment property mortgages indicates potential opportunities. Real estate agents and builders might find the consistent demand for principal residences encouraging, pointing to steady market fundamentals. Appraisers and insurance agents need to consider the specific risks and values associated with each occupancy type, as the dynamics can affect property valuations and insurance premiums.
Economic Outlook
Smith County, Tennessee has seen significant growth in average taxable income per tax return, rising from $44,203.11 in 2013 to $59,786.37 in 2021, suggesting economic expansion that could attract investors and relocators. The fluctuations in average state and local income taxes, especially the spikes in 2013 and 2019, hint at possible volatility in tax policies or economic conditions. The rise in total tax liability per tax return from $5,585.51 in 2012 to $8,324.56 in 2021 may reflect an... Read more
Average Taxable Income per Tax Return in Smith County, TN over the last 9 years
Smith County, Tennessee has seen a notable upward trend in average taxable income per tax return over the past nine years, with the figure rising from $44,203.11 in 2013 to $59,786.37 in 2021. This steady increase hints at a growing economy which can be appealing to investors, individuals considering relocation, and real estate developers. Potential property builders and real estate agents may observe this financial progression as a sign of increasing affluence and stability in the region. For appraisers and insurance agents, the data might suggest a community with potentially rising property values and income levels, meriting closer attention to the market dynamics at play in this Tennessee county.
Average State and Local Income Taxes Per Tax Return in Smith County, TN Over the Last 7 Years
Smith County, Tennessee has seen quite a fluctuation in average state and local income taxes per tax return over the last seven years. Notably, there was a dramatic spike in 2013 and 2019, with taxpayers paying an anomalous $18,657.14 and $56,850.00 respectively. The remaining years saw relatively lower and inconsistent values, indicating possible volatility in tax policies or economic factors affecting incomes. For potential investors, property developers, and real estate agents, these variations could signal underlying economic shifts that might influence property values and financial planning. For appraisers and insurance agents, understanding these tax trends might provide deeper insights into the financial climate of the area.
Average Total Tax Liability Per Tax Return in Smith County, TN Over the Last 10 Years
Over the past decade, Smith County, Tennessee has experienced a notable rise in average total tax liability per tax return, increasing from around $5,585.51 in 2012 to approximately $8,324.56 in 2021. Such trends may indicate a growing economic base or changing demographics, potentially signaling higher disposable incomes or shifts in property values. This pattern is particularly relevant for prospective investors, property developers, real estate agents, and those considering personal or professional relocation, as it may reflect broader economic growth and evolving market conditions within the county.
Cost of Living in Smith County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,051 | $1,295 | $1,911 | $899 | $703 |
| 1 adult 4 children | $1,051 | $1,057 | $1,461 | $899 | $756 |
| 2 adults 3 children | $1,051 | $1,058 | $1,658 | $899 | $554 |
| 1 adult 3 children | $1,051 | $864 | $1,208 | $899 | $526 |
| 2 adults 2 children | $808 | $866 | $1,405 | $820 | $505 |
| 2 adults 1 child | $808 | $684 | $1,153 | $564 | $550 |
| 1 adult 2 children | $808 | $647 | $956 | $820 | $433 |
| 1 adult 1 child | $808 | $442 | $703 | $564 | $456 |
| 2 adults | $614 | $550 | $900 | $0 | $481 |
| 1 adult | $546 | $300 | $450 | $0 | $414 |
Safety trends & Data
Smith County, Tennessee has seen varied trends in property crimes over the past five years. Larceny-theft, the most common crime, peaked at 56.0 incidents in 2018 but dropped to 21.0 in 2021, rising again to 51.0 in 2022. Burglary incidents have generally declined, from 23.0 in 2018 to just 8.0 in 2022. Vandalism dropped significantly from 27.0 cases in 2018 to just 5.0 in 2021, with a slight increase to 10.0 in 2022. Motor vehicle theft remains relatively low, fluctuating between 1.0 and 5.0... Read more
Property Crime Trends in Smith County, TN Over the Last 5 Years
Smith County, Tennessee has shown fluctuating trends in property crimes over the last five years. Notably, larceny-theft is the most prevalent crime, peaking at 56.0 incidents in 2018 and dropping to 21.0 in 2021, before rising again to 51.0 in 2022. Burglary incidents have generally declined, from 23.0 in 2018 to 8.0 in 2022. Vandalism saw a significant drop from 27.0 cases in 2018 to just 5.0 in 2021, with a small increase to 10.0 in 2022. Motor vehicle theft remains relatively low, fluctuating between 1.0 and 5.0 incidents annually. Fraud incidents appeared to peak at 32.0 in 2018, decreasing substantially to 3.0 in 2021. For anyone looking to invest in or move to Smith County, these trends suggest improvements in certain crime categories, which may be appealing.
Demographics
Smith County, Tennessee's adult population is nearly evenly split between males and females. Educational attainment data show that a significant portion of the population has at least a high school diploma, with a notable number of residents having attended some college or earned bachelor's degrees. The age distribution highlights a larger segment of the population in the 45 to 64 age range compared to younger age groups. Racially, the county is predominantly White, with Black or African... Read more
Race Distribution in Smith County, Tennessee (2022)
Educational Attainment in Smith County, Tennessee (2022)
Age Distribution in Smith County, Tennessee
Citizen Population in Smith County, Tennessee (2022)
Political Trends & Data
Smith County, Tennessee, demonstrated a marked conservative inclination in the 2020 U.S. Presidential Election, with Republican candidates receiving close to 79% of the vote. Democratic contenders garnered around 20%, leaving third parties with a negligible share of just slightly over 1%. This could point to a deeply-rooted political environment with minimal influence from alternative... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Smith County, Tennessee, showed a significant lean towards Republican candidates in the 2020 U.S. Presidential Election, with nearly 79% of the vote. Meanwhile, Democratic candidates captured around 20%, indicating a strong conservative preference among the electorate. Other parties barely made a dent, collectively amassing just slightly over 1% of the vote. This suggests a solidly entrenched political landscape with little room for third-party influence.
78.84% of voters voted for the Republican party in the 2020 Presidential Election
19.91% of voters voted for the Democrat party in the 2020 Presidential Election
1.25% of voters voted for the Other party in the 2020 Presidential Election
School Data
Over the last decade, Smith County, Tennessee, has shown a fluctuating student-to-teacher ratio, peaking at over 16 students per teacher and dropping to around 14. This higher-than-average ratio might indicate stretched educational resources, which can impact property values and the overall appeal of local schools. Such dynamics are crucial for investors, real estate agents, and potential movers, as they can affect both the desirability of properties and the perceived quality of education in... Read more
Student-to-teacher ratio in Smith County, Tennessee over the last 10 years
Over the last decade, Smith County, Tennessee has seen a fluctuating student-to-teacher ratio, ranging from a high of just over 16 students per teacher to a low of around 14. This is notably higher than the current national average of fourteen students per teacher, which might be an important consideration for families prioritizing individual attention in education. A lower ratio could suggest smaller class sizes, potentially leading to better educational outcomes, while higher ratios might indicate stretched resources. For investors, real estate agents, and those moving to the county, these dynamics can influence property values and the attractiveness of local schools. Appraisers and insurance agents might also find these trends relevant when assessing the desirability and risk associated with properties in the area.
