Wayne County Real Estate and Livability Trends
Wayne County, Tennessee's real estate market could be on investors' radar as average taxable income rose from $38,133.27 in 2013 to $52,240.20 in 2021, despite occasional dips. This increase might suggest growing affluence, making the area more attractive for real estate activities. Median home values have steadily increased, going from $82,300 in 2015 to $129,000 in 2022, though they remain... Read more
Wayne County Market Trends
Wayne County, Tennessee's median home values have seen consistent growth from $82,300 in 2015 to $129,000 in 2022, but still lag behind the state and national median values, making it an appealing option for affordable investment. Residential energy tax credits have varied significantly, with peaks suggesting shifts in local energy initiatives. A notable increase in real estate taxes, from... Read more
Median Value of Occupied Housing Units in Wayne County, Tennessee Over the Last 8 Years
Over the last eight years, the median home value in Wayne County, Tennessee has seen a steady rise from $82,300 in 2015 to $129,000 in 2022. While this represents significant growth, Wayne County's median values continue to trail their Tennessee counterpart, which escalated from $142,100 to $232,100 over the same period. On a national level, home values also increased, moving from $125,500 in 2015 to $179,400 in 2022. This makes Wayne County an intriguing option for those looking to invest in more affordable markets with potential for appreciation, especially when comparing it to the broader state and national trends.
Residential Energy Tax Credit Per Tax Return in Wayne County, TN Over the Last 8 Years
Wayne County, Tennessee has experienced variable residential energy tax credits over the last eight years, with notable peaks in 2013, 2014, and 2021, hitting $300.00, $300.00, and $520.00 respectively. The lowest point was in 2017, dropping to $166.67. These fluctuations might suggest changes in local energy efficiency initiatives or the adoption of renewable energy technologies by homeowners. For investors and real estate agents, understanding these trends could provide insights into the evolving energy efficiency market and potential incentives for future property developments.
Average Real Estate Taxes Per Tax Return in Wayne County, TN Over the Last 10 Years
Over the last decade, Wayne County, Tennessee has seen a noticeable upward trend in average real estate taxes per tax return. Starting at a modest $1,025.33 in 2012, taxes have gradually increased, experiencing a significant jump in 2017 to $1,187.50 and peaking at $2,290.00 in 2021. This could reflect rising property values or changes in local tax policies, which may impact investment potential, property insurance rates, and overall cost of living. Potential buyers, investors, and real estate professionals should consider these trends when evaluating the local market dynamics and future financial commitments.
Percentage of Farm Returns in Wayne County, TN Over the Last 10 Years
Wayne County, Tennessee has seen some variation in the percentage of farm tax returns over the last decade. The percentage appears to have peaked in 2012 at approximately 12.13% and has fluctuated since, showing a notable dip to 9.30% in 2020. Farm tax returns generally represent the financial reporting by individuals engaged in farming, an important factor when considering the economic health and agricultural viability of the region. For potential investors, builders, or residents, this trend might suggest shifts in agricultural activity or financial health within the county's farming community.
Number of Mortgages by Occupancy Type in Wayne County, TN Over the Last 5 Years in Wayne County
In Wayne County, Tennessee, there's been a noticeable uptick in the number of mortgages for principal residences over the last five years, peaking at 486 in 2021. Investment properties have seen more modest numbers, generally under 11 per year, while second residences vary, reaching up to 25 in 2021. Changes in these occupancy types can hint at shifting market demands and economic conditions, impacting everything from property values to insurance rates. For investors, these trends might suggest opportunities in the relatively stable and growing market for primary homes, whereas for builders and real estate agents, understanding the fluctuations in second and investment properties can guide developments and sales strategies.
Economic Outlook
Wayne County, Tennessee's real estate market may be becoming more attractive due to a significant rise in average taxable income, climbing from about $38,133.27 in 2013 to $52,240.20 in 2021, despite occasional dips. This uptick could entice investors and real estate agents aiming to tap into increasing local affluence. Furthermore, the fluctuation in average state and local income taxes—from $2,823.33 in 2013 to a peak of $6,300.00 in 2021—implies potential shifts in economic policy and... Read more
Average Taxable Income per Tax Return in Wayne County, TN over the last 9 years
Over the past nine years, Wayne County in Tennessee has generally shown upward movement in the average taxable income per tax return, fluctuating but more recently experiencing significant growth. For instance, the average taxable income rose from approximately $38,133.27 in 2013 to around $52,240.20 in 2021, with a notable dip in 2015 and another slight decrease in 2020. This upward trend could potentially attract investors and real estate agents looking to capitalize on increasing affluence in the area. Appraisers might find these trends useful when evaluating property values, while those interested in moving to or building property in Wayne County may find the economic indicators promising despite the occasional fluctuations.
Average State and Local Income Taxes Per Tax Return in Wayne County, TN Over the Last 9 Years
Wayne County, Tennessee has seen a notable fluctuation in average state and local income taxes per tax return over the past nine years. The data indicates a low of $2,823.33 in 2013, with a peak at $6,300.00 in 2021. This variability may suggest shifts in economic conditions and policy changes affecting taxpayers. Investors, real estate agents, and potential residents might find these patterns indicative of the area's dynamic fiscal landscape and its potential impacts on disposable income and property investment attractiveness.
Average Total Tax Liability Per Tax Return in Wayne County, TN Over the Last 10 Years
Over the past decade, Wayne County, Tennessee, has seen a noticeable rise in average total tax liability per tax return. There's been a substantial increase from approximately $4,645.15 in 2012 to about $7,077.85 in 2021. This upward trend suggests a growing economic base and potentially higher incomes, making it a point of interest for current residents, potential investors, real estate agents, and insurers assessing market and economic dynamics.
Cost of Living in Wayne County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $970 | $1,339 | $1,970 | $969 | $723 |
| 1 adult 4 children | $970 | $1,094 | $1,508 | $969 | $749 |
| 2 adults 3 children | $970 | $1,094 | $1,709 | $969 | $549 |
| 1 adult 3 children | $970 | $893 | $1,247 | $969 | $535 |
| 2 adults 2 children | $747 | $896 | $1,447 | $858 | $510 |
| 1 adult 2 children | $747 | $669 | $985 | $858 | $433 |
| 2 adults 1 child | $747 | $708 | $1,186 | $500 | $530 |
| 1 adult 1 child | $747 | $457 | $724 | $500 | $429 |
| 2 adults | $620 | $569 | $924 | $0 | $488 |
| 1 adult | $609 | $310 | $462 | $0 | $432 |
Safety trends & Data
In Wayne County, Tennessee, property crime trends have shown notable fluctuations over the last five years. Fraud, which was high in 2018 ($31.00) and 2019 ($24.00), dropped dramatically to $3.00 by 2020. Larceny-Theft cases peaked at $29.00 in 2022, signaling potential concerns for prospective investors. Motor Vehicle Theft saw a significant spike in 2020 ($18.00), reflecting broader trends in increased vehicular crime. While vandalism has remained relatively stable, these data points suggest... Read more
Property Crime Trends in Wayne County, TN Over the Last 5 Years
In Wayne County, Tennessee, property crime trends over the last five years show notable fluctuations. Fraud was consistently high in 2018 (31.00) and 2019 (24.00) but dramatically dropped by 2020 to just 3.00. Larceny-Theft cases peaked in 2022 at 29.00, signaling a possible concern for prospective investors. Motor Vehicle Theft spiked in 2020 (18.00), matching a broader trend toward increased vehicular crime. Vandalism remained relatively stable, hovering around an average of 10 cases annually. This data hints at potential hotspots and periods that appraisers and insurance agents might want to review for risk assessment.
Demographics
In Wayne County, Tennessee, there's a gender disparity in the adult population with males outnumbering females. Educational attainment shows a significant portion of residents holding just a high school diploma or some college experience. The age distribution skews towards a middle-aged population, with fewer younger and older residents. The racial makeup is predominantly White, with a small percentage of Black or African American residents and even fewer individuals from other racial... Read more
Race Distribution in Wayne County, Tennessee (2022)
Educational Attainment in Wayne County, Tennessee (2022)
Age Distribution in Wayne County, Tennessee
Citizen Population in Wayne County, Tennessee (2022)
Political Trends & Data
Wayne County, Tennessee exhibited a pronounced preference for Republican candidates in the 2020 U.S. Presidential Election, with around 87% of voters casting their ballots for the GOP. This political leaning may shape local policies and community values, impacting aspects like real estate development, school funding, and infrastructure projects. Buyers and investors might consider this political landscape when evaluating the long-term stability and growth potential of the... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Wayne County, Tennessee, the 2020 U.S. Presidential Election results leaned heavily in favor of the Republican party, which garnered close to 87% of the votes. The Democratic party, by contrast, secured just over 12%, with negligible support for third parties like the Libertarian and Green parties. This trend might suggest a strong Republican base in this region, potentially influencing local and state politics as well.
86.89% of voters voted for the Republican party in the 2020 Presidential Election
12.30% of voters voted for the Democrat party in the 2020 Presidential Election
0.81% of voters voted for the Other party in the 2020 Presidential Election
School Data
Wayne County, Tennessee's student-to-teacher ratio has consistently stayed below the national average, fluctuating around thirteen from 2014 to 2018 before dropping to eleven in recent years. This trend might appeal to investors and families looking for better educational environments, as smaller class sizes often suggest higher quality education. Real estate professionals, including insurance agents and appraisers, could consider these factors when assessing property values and market demand,... Read more
Student-to-teacher ratio in Wayne County, Tennessee over the last 10 years
Over the past decade, Wayne County, Tennessee has seen its student-to-teacher ratio generally stay below the national average of fourteen students per teacher. Notably, from 2014 to 2018, the ratio hovered around thirteen, but a significant drop occurred in 2019, reaching as low as eleven in more recent years. This could be attractive for investors and families prioritizing educational environments with more personalized attention for students. Additionally, insurance agents, appraisers, and real estate agents might find these trends could impact property values and demand within the community. Lower ratios are indicative of smaller class sizes, which often correlate with a higher quality of education, potentially influencing the desirability of the area.
