Lake County Market Trends
Median Value of Occupied Housing Units in Lake County, Colorado Over the Last 8 Years
Lake County, Colorado has seen a considerable increase in median home values over the last eight years, jumping from $168,500 in 2015 to $331,000 in 2022. This is particularly interesting when compared to the national median, which increased from $125,500 to $179,400 over the same period, and Colorado's state median, which grew from $247,800 to $465,900. While Lake County's growth rate is notable, it still sits below the state median, making it potentially attractive for investors or homebuyers looking for growth potential without the higher entry costs associated with other parts of Colorado.
Residential Energy Tax Credit Per Tax Return in Lake County, CO Over the Last 8 Years
Lake County, Colorado has shown significant variability in residential energy tax credits over the last eight years. Notably, there was a steep rise in 2021, hitting $1,440.00 per tax return. This fluctuation, including a previous peak at $733.33 in 2019, suggests a heightened focus on energy efficiency investments that could be attractive to new homeowners and investors. Such trends indicate a community leaning towards sustainable living, reflecting potential for growth in green infrastructure and property development aligned with environmental incentives.
Average Real Estate Taxes Per Tax Return in Lake County, CO Over the Last 10 Years
Over the past decade, real estate taxes per tax return in Lake County, Colorado suggest a steady increase, notably spiking from $1,845.59 in 2012 to $3,133.33 in 2021. The most pronounced jumps occurred after 2016, reflecting a possible rise in property values and fiscal adjustments. Such trends may indicate a thriving real estate market and heightened investment in local infrastructure, which could be enticing for potential investors, developers, and prospective residents considering the area.
Number of Mortgages by Occupancy Type in Lake County, CO Over the Last 5 Years in Lake County
Lake County, Colorado has shown fluctuating trends in mortgage counts across different occupancy types over the past five years. Principal residences consistently dominate the mortgage market, seeing peaks in 2021 with 718 mortgages and a notable drop to 390 in 2022. Investment properties and second residences also experienced shifts, with investment property mortgages peaking at 73 in 2021 and dropping to 40 by 2022. Changes in occupancy type impact market dynamics significantly; investors might view these shifts as indicators of potential rental demand, while those considering second homes may see fluctuations as trends in leisure or seasonal desirability. For real estate agents and appraisers, varying mortgage numbers can provide insights into the economic vitality and housing trends of an area, affecting property values and investment strategies.
Economic Outlook
Average Taxable Income per Tax Return in Lake County, CO over the last 9 years
Over the last nine years, Lake County, CO has seen a steady rise in average taxable income per tax return, climbing from $43,890.19 in 2013 to $65,047.01 in 2021. This upward trend indicates economic growth and increasing prosperity in the area, making it an attractive opportunity for investors, prospective residents, and developers. The noticeable income growth exemplifies a strengthening economy that may positively impact property values and business opportunities in Lake County.
Average State and Local Income Taxes Per Tax Return in Lake County, CO Over the Last 10 Years
Over the last decade, residents in Lake County, CO have experienced a notable increase in average state and local income taxes per tax return, with figures rising from $3,147.69 in 2012 to $6,666.67 in 2021. The most significant jumps occurred between 2017 and 2018, and again from 2020 to 2021. This upward trend reflects growing tax burdens that could impact decisions for both current residents and potential newcomers regarding financial planning and cost of living considerations.
Average Total Tax Liability Per Tax Return in Lake County, CO Over the Last 10 Years
Over the last decade, Lake County, Colorado has seen a notable increase in the average total tax liability per tax return. Starting at $5,508.97 in 2012, the average climbed steadily, reaching $8,860.61 by 2021. The most pronounced jumps occurred between 2016 and 2017 as well as from 2020 to 2021. This upward trend indicates a rising fiscal responsibility among residents and could impact both potential investors and those considering relocating to the area, suggesting a growing tax base and potentially broader public funding opportunities.
Cost of Living in Lake County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,379 | $2,003 | $2,015 | $2,012 | $1,924 |
| 1 adult 4 children | $1,379 | $1,636 | $1,560 | $2,012 | $2,022 |
| 2 adults 3 children | $1,379 | $1,636 | $1,738 | $2,012 | $1,607 |
| 1 adult 3 children | $1,379 | $1,336 | $1,283 | $2,012 | $1,720 |
| 2 adults 2 children | $970 | $1,339 | $1,462 | $1,762 | $1,223 |
| 1 adult 2 children | $970 | $1,000 | $1,007 | $1,762 | $1,246 |
| 2 adults 1 child | $970 | $1,058 | $1,186 | $947 | $996 |
| 1 adult 1 child | $970 | $684 | $731 | $947 | $840 |
| 2 adults | $859 | $850 | $910 | $0 | $738 |
| 1 adult | $796 | $464 | $455 | $0 | $624 |
Safety trends & Data
Property Crime Trends in Lake County, CO Over the Last 5 Years
Lake County, Colorado has experienced fluctuating property crime rates over the past five years. Burglary incidents peaked in 2020 with 6 reported cases but saw a reduction in subsequent years. Larceny-theft's notable drop from 16 cases in 2018 to just 1 in 2022 could suggest improved preventative measures or reporting inconsistencies. Vandalism remained relatively consistent, hovering between 3 to 6 cases annually. Meanwhile, fraud incidents were minimal, with a maximum reporting of 8 cases in 2018. For investors, real estate agents, or insurance professionals, these trends hint at potential neighborhood safety improvements and a possible decline in property crime.
Demographics
In Lake County, Colorado, the adult population sees a slight male dominance, which might influence local policies and services. Interestingly, higher education attainment is relatively common, with a substantial portion holding a Bachelor's degree or higher, possibly hinting at a community that values education. The age distribution reveals a youthful tilt, particularly evident in the 25 to 34-year age group, which could suggest a dynamic workforce and potential for future growth. The racial... Read more
Race Distribution in Lake County, Colorado (2022)
Educational Attainment in Lake County, Colorado (2022)
Age Distribution in Lake County, Colorado
Citizen Population in Lake County, Colorado (2022)
Political Trends & Data
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In the 2020 U.S. Presidential Election, Lake County, Colorado, appeared to lean towards the Democratic Party, with approximately 58% of the votes. The Republican Party garnered around 38%, indicating a possibly significant partisan divide. Minor parties like the Libertarian and Green parties collectively made up roughly 3% of the vote, suggesting limited support for third-party candidates. This distribution may reflect broader voting patterns and be indicative of the county's political climate.
37.79% of voters voted for the Republican party in the 2020 Presidential Election
58.14% of voters voted for the Democrat party in the 2020 Presidential Election
2.55% of voters voted for the Livertarian party in the 2020 Presidential Election
0.58% of voters voted for the Green party in the 2020 Presidential Election
0.93% of voters voted for the Other party in the 2020 Presidential Election
School Data
Student-to-teacher ratio in Lake County, Colorado over the last 10 years
Over the past decade, Lake County, Colorado has witnessed a dramatic fluctuation in student-to-teacher ratios, peaking at nearly 63 in 2020 before aligning more closely with the current national average of 14 in 2023. For potential investors, real estate agents, and those considering a move, these trends might hint at underlying issues such as teacher retention, funding changes, or shifts in enrollment that could impact the stability and quality of education. Notably, a higher student-to-teacher ratio often translates into less individualized attention for students, potentially influencing the overall attractiveness of the area. For appraisers and insurance agents, understanding these dynamics can provide additional context for assessing property values and risk factors. The significant drop to 14.6 in 2023 could signal recent improvements, making this area potentially more appealing to families prioritizing education.
