Fayette County Real Estate and Livability Trends
Fayette County, Alabama's real estate market is dynamic, with median home values jumping from $75,200 in 2015 to $112,700 in 2022, providing a more affordable option compared to the state median of $179,400. Real estate taxes have soared, moving from $610.42 in 2012 to $1,593.33 by 2021, suggesting an increase in property values or changes in tax assessments. Farm tax returns have fluctuated,... Read more
Fayette County Market Trends
Fayette County, Alabama’s median home values surged from $75,200 in 2015 to $112,700 in 2022, still trailing behind the state median of $179,400, which might make it appealing for budget-conscious buyers or investors seeking potential appreciation. Residential energy tax credits per return have been volatile, spiking to $1,250.00 in 2018 and hovering over $1,000.00 in recent years, potentially... Read more
Median Value of Occupied Housing Units in Fayette County, Alabama Over the Last 8 Years
Fayette County, Alabama, has seen median home values steadily rise from $75,200 in 2015 to $112,700 in 2022. While this growth is significant, it still lags behind both Alabama's statewide median, which reached $179,400 in 2022, and the national median of $179,400 for the same year. This lower median value could make Fayette County an attractive option for more budget-conscious buyers or investors looking for potential appreciation.
Residential Energy Tax Credit Per Tax Return in Fayette County, AL Over the Last 9 Years
Fayette County, Alabama has seen significant volatility in residential energy tax credits per tax return over the last nine years. While the average values hovered between approximately $323.08 and $442.86 from 2013 to 2016, a notable decrease occurred in 2017 at $266.67. However, a substantial increase was observed in 2018, reaching $1250.00, and although there was a dip to $850.00 in 2019, the values climbed again to over $1000.00 in the following years. This trend might reflect growing investments in energy-efficient home upgrades, suggesting a potential increase in the adoption of sustainable living practices.
Average Real Estate Taxes Per Tax Return in Fayette County, AL Over the Last 10 Years
Over the past decade, Fayette County, Alabama, has seen a notable increase in average real estate taxes per tax return, rising from approximately $610.42 in 2012 to around $1,593.33 in 2021. This upward trend, especially the significant jumps from 2017 to 2018 and again from 2020 to 2021, could be indicative of increased property values or changes in tax assessment practices. Such fluctuations are crucial for potential investors, homeowners, and policymakers to consider, as they impact the overall cost of property ownership and could reflect broader economic shifts in the area.
Percentage of Farm Returns in Fayette County, AL Over the Last 10 Years
Farm tax returns in Fayette County, Alabama have seen fluctuations over the past decade, beginning with 6.05% in 2012 and peaking slightly at 6.08% in 2014. However, a notable dip occurred in 2015 to 5.27%, continuing a general downtrend to 4.87% in 2020 before a minor rebound to 5.11% in 2021. For investors and potential residents, this trend indicates varying agricultural profitability, possibly influenced by market conditions or policy changes, impacting the local economy's stability. Understanding these changes can help in making informed decisions about property investments or residency in the county, particularly in sectors tied to agriculture.
Number of Mortgages by Occupancy Type in Fayette County, AL Over the Last 5 Years in Fayette County
Fayette County, Alabama has shown a consistent preference for principal residences, with a notable increase in mortgages from 439 in 2018 to a peak of 620 in 2021, before slightly declining to 550 in 2022. Investment properties and second residences remain much lower, with investment properties peaking at 18 mortgages in 2018 and second residences consistently under 10 mortgages annually. These occupancy trends can provide valuable insights for investors, real estate agents, and builders; the strong demand for principal residences may indicate a stable, long-term residential community, while the lower numbers in investment and second residences could suggest fewer opportunities for short-term rentals or vacation homes. Appraisers and insurance agents might also find these trends useful for assessing property values and insurance needs respectively.
Economic Outlook
Fayette County, Alabama has seen average taxable income per tax return climb from $40,641.99 in 2013 to $52,566.24 in 2021, with significant post-2018 growth. Average state and local income taxes have nearly doubled, jumping from $3,344.79 in 2012 to $7,086.67 in 2021, suggesting rising costs of living. Additionally, the average total tax liability soared to $6,688.07 in 2021 from a previous range of $5,000 to $5,500, reflecting potential income growth or policy changes. These trends could be... Read more
Average Taxable Income per Tax Return in Fayette County, AL over the last 9 years
Over the past nine years, Fayette County, AL has experienced a notable increase in average taxable income per tax return, rising from $40,641.99 in 2013 to $52,566.24 in 2021. This upward trend, with a significant boost post-2018, indicates a growing economic base and potential financial stability for residents. The sharpest increase occurred between 2020 and 2021, suggesting recent economic improvements or policy changes that positively impacted incomes.
Average State and Local Income Taxes Per Tax Return in Fayette County, AL Over the Last 10 Years
Fayette County, AL has seen a significant increase in average state and local income taxes per tax return over the past decade. From $3,344.79 in 2012 to $7,086.67 in 2021, there's a nearly steady rise with notable jumps in 2018 and beyond, reaching over $5,000. This trend may impact residents' cost of living and could be a consideration for those planning to move to or continue living in the county.
Average Total Tax Liability Per Tax Return in Fayette County, AL Over the Last 10 Years
The average total tax liability per tax return in Fayette County, Alabama has shown some notable fluctuations over the past decade, peaking dramatically at $6,688.07 in 2021 after a more consistent range hovering around $5,000 to $5,500 in previous years. This significant increase in recent years might be indicative of rising incomes or changes in tax policies that those looking to invest, move to, or build property might find worth investigating. The variability suggests an economic environment that requires close monitoring, especially for those planning long-term commitments in the county.
Cost of Living in Fayette County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $924 | $1,303 | $1,917 | $1,036 | $1,071 |
| 1 adult 4 children | $924 | $1,064 | $1,430 | $1,036 | $1,065 |
| 2 adults 3 children | $924 | $1,064 | $1,682 | $1,036 | $874 |
| 1 adult 3 children | $924 | $869 | $1,194 | $1,036 | $847 |
| 2 adults 2 children | $740 | $871 | $1,446 | $898 | $796 |
| 1 adult 2 children | $740 | $651 | $959 | $898 | $679 |
| 2 adults 1 child | $740 | $689 | $1,210 | $449 | $744 |
| 1 adult 1 child | $740 | $445 | $723 | $449 | $600 |
| 2 adults | $655 | $553 | $975 | $0 | $666 |
| 1 adult | $560 | $302 | $487 | $0 | $535 |
Safety trends & Data
Property crime trends in Fayette County, Alabama have been inconsistent over the past five years. In 2018, there was a notable spike with 79 cases, predominantly driven by larceny-theft (30) and burglary (15), while vandalism hit its peak in 2021 with eight incidents. Fraud and larceny-theft showed variable numbers, with fraud fluctuating between one and 15 incidents annually, and larceny-theft ranging from six to 30. By 2020, total property crime incidents had dropped to a five-year low of 17.... Read more
Property Crime Trends in Fayette County, AL Over the Last 5 Years
Property crime trends in Fayette County, Alabama have shown significant variations over the past five years. There was a noticeable spike in property crimes in 2018 with total cases reaching 79, driven by high instances of larceny-theft (30) and burglary (15). In contrast, crimes like vandalism peaked in 2021 with eight incidents. Fraud and larceny-theft appear as persistent issues, albeit with fluctuating numbers; fraud cases ranged from one to 15 yearly, while larceny-theft oscillated between six and 30 cases. The data indicates a decrease in total incidents by 2020, reaching a five-year low of just 17. These fluctuations could reflect economic shifts, changes in community vigilance, or law enforcement strategies, affecting property values and insurance rates, making it crucial for potential investors and residents to consider these dynamics.
Demographics
Fayette County, Alabama, shows a balanced gender distribution with a slight female majority. The region exhibits diverse educational attainment, yet a significant portion of adults hold only a high school diploma or have some college experience without a degree. The population skews older, with substantial numbers in the 45-64 age brackets suggesting potential community impacts related to aging residents. The racial makeup is predominantly White, with smaller proportions of Black or African... Read more
Race Distribution in Fayette County, Alabama (2022)
Educational Attainment in Fayette County, Alabama (2022)
Age Distribution in Fayette County, Alabama
Citizen Population in Fayette County, Alabama (2022)
Political Trends & Data
Fayette County, Alabama, shows a potential strong Republican leaning, with nearly 83% of 2020 U.S. Presidential Election votes going to the GOP. The Democratic Party captured about 16%, and minor parties collectively gathered around 0.8%. This political landscape might offer insights into community preferences and could subtly influence certain real estate decisions or... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Fayette County, Alabama, the 2020 U.S. Presidential Election results perhaps suggest a strong leaning towards the Republican Party, capturing nearly 83% of the vote. The Democratic Party trailed significantly, securing around 16%. Minor parties, including the Libertarian and Green parties, barely made a mark, with other affiliations accounting for approximately 0.8%.
83.28% of voters voted for the Republican party in the 2020 Presidential Election
15.91% 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
Fayette County, Alabama has experienced changing student-to-teacher ratios, peaking at 18 in 2022 before dropping to 15 in 2023, compared to the national average of 14. These shifts may reflect varying classroom attention and educational quality, potentially influencing property values and neighborhood attractiveness for families with children. Real estate agents and appraisers might find these trends useful, while insurance agents could consider these factors in their risk... Read more
Student-to-teacher ratio in Fayette County, Alabama over the last 10 years
Fayette County, Alabama has seen fluctuations in its student-to-teacher ratio over the last ten years, peaking at 18 in 2022 before dropping to roughly 15 in 2023. This compares against the national average of 14 students per teacher. For potential investors, homebuyers, or current residents, these changes may indicate varying levels of classroom attention and educational quality, which could be crucial for families with children. Real estate agents and appraisers might find these trends useful for gauging property values and neighborhood desirability. Insurance agents could also consider these factors in their risk assessments and policy offerings.
