Union County Real Estate and Livability Trends
Union County, Tennessee has witnessed substantial economic growth, with average taxable incomes jumping from $37,855.37 in 2013 to $55,390.95 in 2021. Real estate values have been rising, but not as rapidly as statewide trends, making the county a more affordable option. Median home values increased from $106,800 in 2015 to $164,400 in 2022. Energy-efficient home investments peaked at $870 per... Read more
Union County Market Trends
Union County, Tennessee's real estate market reveals notable affordability, with median home values climbing from $106,800 in 2015 to $164,400 in 2022, slower than both state and national trends. This might position the county as an appealing option for buyers seeking lower entry costs compared to broader averages. Energy-efficient home improvements in the area have seen heightened investment,... Read more
Median Value of Occupied Housing Units in Union County, Tennessee Over the Last 8 Years
Union County, Tennessee's median home values have shown a promising upward trajectory from $106,800 in 2015 to $164,400 in 2022. This growth, although consistent, is slower compared to state and national trends. Tennessee's median values leaped from $142,100 to $232,100, while the national figures rose from $125,500 to $179,400 during the same period. This makes Union County an attractive option for those looking for potentially lower entry costs compared to broader averages, indicating it might offer more relative affordability and a potentially untapped investment opportunity.
Residential Energy Tax Credit Per Tax Return in Union County, TN Over the Last 8 Years
Residential energy tax credit amounts in Union County, Tennessee have fluctuated over the past eight years, with notable peaks and troughs. After a dip to approximately $333.33 in 2017, tax credits peaked dramatically at $870.00 in 2020, suggesting increased investment in energy-efficient home improvements during that period. These trends might indicate rising awareness and utilization of energy-efficient upgrades among residents. This data could be useful for potential investors, real estate agents, and construction firms looking to align their projects with local tax credit benefits, as well as for insurance agents assessing property values and tax implications.
Average Real Estate Taxes Per Tax Return in Union County, TN Over the Last 10 Years
Union County, Tennessee has seen a substantial increase in average real estate taxes per tax return over the past decade, starting from $1,460.00 in 2012 and climbing to $3,569.23 in 2021. This upward trend may concern prospective homeowners and real estate investors evaluating the fiscal landscape. While the spike from 2015 onwards—peaking at over $3,500 in 2020—highlights rising property values, it also suggests increased fiscal responsibilities for property owners. Real estate agents, insurance agents, and builders should be mindful of these escalating taxes when advising clients.
Percentage of Farm Returns in Union County, TN Over the Last 10 Years
Over the past decade, Union County, Tennessee has seen a gradual decline in the percentage of farm tax returns, from approximately 5.55% in 2012 to around 4.25% in 2021. Farm tax returns are essentially filings by agricultural entities who report their income and expenses to the IRS, and these figures offer a peek into the agricultural health and economic activities in the county. This downward trend might reflect changes in local agricultural productivity, land use, or farming profitability, which could be crucial for anyone considering investments, real estate development, or simply gaining a deeper understanding of the economic landscape in Union County.
Number of Mortgages by Occupancy Type in Union County, TN Over the Last 5 Years in Union County
Union County, Tennessee has seen a general uptick in mortgages for principal residences over the past five years, peaking in 2021 with 1,299. Second residence mortgages have also increased, particularly notable in 2020 with 157 counts. Investment property mortgages have remained relatively stable, hovering around 30 annually. Changes in occupancy type can influence market dynamics—higher principal residence purchases may suggest growing local job opportunities or attractiveness for families, while an increase in second homes could indicate the county’s appeal as a getaway destination. Stable investment property interest might reflect steady rental demand. Such trends are essential for potential investors, developers, and real estate professionals to tailor their strategies effectively.
Economic Outlook
Union County, Tennessee has seen its average taxable income per tax return increase from roughly $37,855.37 in 2013 to about $55,390.95 in 2021, suggesting potential economic growth that could attract investors, real estate agents, and new residents. Alongside this, there have been notable fluctuations in average state and local income taxes, with spikes in 2014, 2016, 2017, 2019, and a peak in 2021 at nearly $8,867.00, reflecting possible policy changes or economic shifts. The rise in average... Read more
Average Taxable Income per Tax Return in Union County, TN over the last 9 years
Union County, Tennessee has experienced a notable increase in average taxable income per tax return over the past nine years, growing from approximately $37,855.37 in 2013 to around $55,390.95 in 2021. This upward trend suggests a potential economic growth in the area, making it an interesting prospect for investors, real estate agents, and those looking to move here. The steady rise in income might also prompt appraisers and insurance agents to re-evaluate property values and insurance rates.
Average State and Local Income Taxes Per Tax Return in Union County, TN Over the Last 10 Years
Over the past decade, Union County, Tennessee has experienced significant fluctuations in average state and local income taxes per tax return. Despite an initial dip, the tax figures witnessed notable spikes, notably in 2014, 2016, 2017, 2019, and an all-time high in 2021 with average taxes reaching nearly $8,867.00. These erratic changes could suggest shifting economic conditions or policy adjustments within the county, making it vital for potential investors, property developers, and residents to consider these tax trends when planning financial decisions.
Average Total Tax Liability Per Tax Return in Union County, TN Over the Last 10 Years
Over the past decade, Union County, Tennessee, has seen a noticeable rise in average total tax liability per tax return. From $4,616.91 in 2012, the liability has climbed significantly, reaching $7,365.77 in 2021. This upward trajectory, particularly the jump observed in recent years, could be indicative of higher income levels or changes in tax policy, making the area potentially more appealing to investors and homebuyers who could leverage this economic growth. Real estate agents, appraisers, and insurance agents might find this trend advantageous for forecasting property values and premiums. Moreover, understanding this data might benefit those planning to build or invest in the region by providing insights into the area's fiscal landscape.
Cost of Living in Union County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,226 | $1,464 | $1,767 | $899 | $796 |
| 1 adult 4 children | $1,226 | $1,195 | $1,350 | $899 | $872 |
| 2 adults 3 children | $1,226 | $1,196 | $1,534 | $899 | $624 |
| 1 adult 3 children | $1,226 | $976 | $1,117 | $899 | $660 |
| 2 adults 2 children | $941 | $979 | $1,301 | $820 | $571 |
| 2 adults 1 child | $941 | $774 | $1,067 | $564 | $609 |
| 1 adult 2 children | $941 | $731 | $884 | $820 | $509 |
| 1 adult 1 child | $941 | $500 | $650 | $564 | $493 |
| 2 adults | $775 | $622 | $834 | $0 | $526 |
| 1 adult | $722 | $339 | $417 | $0 | $450 |
Safety trends & Data
Union County, Tennessee has experienced fluctuating property crime rates over the past five years. Burglary incidents peaked in 2019 with 21 occurrences, dropping significantly to just 4 by 2022. Larceny-theft, the most common crime, also showed a decreasing trend from 56 in 2018 to 26 in 2022. Motor vehicle thefts increased to 12 cases in 2019 but have since stabilized. Vandalism incidents varied, reaching a high of 17 in 2020 and reducing to 9 by 2022. These shifts matter for potential... Read more
Property Crime Trends in Union County, TN Over the Last 5 Years
Union County, Tennessee has seen fluctuating property crime rates over the past five years. Notably, incidents of burglary peaked in 2019 with 21 occurrences but saw a significant drop to just 4 by 2022. Larceny-theft has remained the most common crime but also exhibited a decreasing trend from 56 in 2018 to 26 in 2022. Motor vehicle thefts showed an increase in 2019 with 12 cases, but the figures have since stabilized. Instances of vandalism varied, reaching a high of 17 in 2020 but reducing to 9 by 2022. Understanding these trends is crucial for potential investors, real estate agents, and residents who are assessing the safety and financial viability of properties in the area.
Demographics
Union County, Tennessee shows a notably balanced gender split among adults, with males and females almost equally represented. When it comes to education, a significant portion of the population holds a high school diploma, yet fewer have advanced degrees. Age-wise, the distribution skews slightly older, with a substantial number of residents aged 55 and up. Racial demographics indicate an overwhelmingly white population, with minimal representation from other racial groups. These trends may... Read more
Race Distribution in Union County, Tennessee (2022)
Educational Attainment in Union County, Tennessee (2022)
Age Distribution in Union County, Tennessee
Citizen Population in Union County, Tennessee (2022)
Political Trends & Data
Union County, Tennessee, exhibited a pronounced conservative inclination in the 2020 Presidential Election, with Republicans probably capturing around 84% of the vote and Democrats potentially receiving around 15%. This strong Republican preference indicates a deeply rooted conservative culture in this rural region, echoing the broader trends in many parts of Tennessee's rural... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Union County, Tennessee, showed a dominant preference for the Republican party in the 2020 Presidential Election, with Republicans likely securing around 84% of the vote. Democrats might have garnered approximately 15%, leaving minimal traction for any third-party or independent candidates. This suggests a strong conservative leaning within the county, reflecting broader trends observed in various parts of rural Tennessee.
83.75% of voters voted for the Republican party in the 2020 Presidential Election
15.38% of voters voted for the Democrat party in the 2020 Presidential Election
0.87% of voters voted for the Other party in the 2020 Presidential Election
School Data
Union County, Tennessee's student-to-teacher ratios have varied over the last decade, peaking at 17 in 2019 and 17.63 in 2021, well above the US average of 14. However, recent numbers dropped to 11.19 in 2023, hinting at smaller class sizes and potentially improved educational quality. This trend might pique interest among real estate investors and families looking to relocate, potentially influencing property appraisals and insurance assessments. Real estate agents could use this data to... Read more
Student-to-teacher ratio in Union County, Tennessee over the last 10 years
Union County, Tennessee has seen fluctuating student-to-teacher ratios over the last decade, with notable peaks in 2019 and 2021 at 17 and 17.63 students per teacher respectively, significantly higher than the US national average of 14 students per teacher. However, recent years show a decline, with 2023 at a notably low 11.19, potentially indicating smaller class sizes and perhaps more personalized attention. These trends could interest those looking to invest in real estate or move to the area, signaling a potential improvement in educational quality. Appraisers and insurance agents might consider these shifts when assessing property values and risk, respectively, as areas with better educational resources can often carry different valuations and requirements. Real estate agents could leverage this information to attract families seeking quality education for their children.
