Lake County Real Estate and Livability Trends
Lake County, Florida has seen a steady growth in average taxable income per tax return, climbing from $48,637.14 in 2013 to $71,376.51 in 2021, suggesting promising economic opportunities. However, the rise in state and local income taxes per tax return from $6,650.90 to $11,004.80 during the same period may impact affordability. Median home values have more than doubled from $140,100 in 2015 to... Read more
Lake County Market Trends
In Lake County, Florida, median home values surged from $140,100 in 2015 to $262,500 in 2022, a steady growth outpacing national trends but slightly more tempered compared to the broader Florida market. Residential energy tax credits have also seen a significant rise, highlighting a growing priority on energy efficiency in the region. Meanwhile, real estate taxes in Lake County have increased... Read more
Median Value of Occupied Housing Units in Lake County, Florida Over the Last 8 Years
Over the last eight years, median home values in Lake County, Florida have seen a robust increase from $140,100 in 2015 to $262,500 in 2022. This local trend notably outpaces the national median home value, which rose from $125,500 to $179,400 in the same period. When compared to the broader Florida real estate market, where values increased from $159,000 to $292,200, Lake County’s growth seems slightly more tempered yet steady. These trends might intrigue potential investors and homebuyers looking for sustained, albeit less volatile, property value appreciation in Lake County relative to the state of Florida, yet still well above national averages.
Residential Energy Tax Credit Per Tax Return in Lake County, FL Over the Last 9 Years
Lake County, Florida has seen a significant rise in the average residential energy tax credit per tax return over the past nine years, growing from approximately $464.34 in 2013 to a substantial $2,704.76 by 2021. Notable spikes include a sharp increase in 2017 to $1,368.91 and an even more dramatic jump in 2018 to $3,225.20. This trend underscores a growing emphasis on energy efficiency and sustainability in the region, making it an appealing area for eco-conscious investors and residents looking to save on energy costs.
Average Real Estate Taxes Per Tax Return in Lake County, FL Over the Last 10 Years
Lake County, Florida, has seen a steady increase in real estate taxes over the past decade, with amounts climbing from $2,888.84 in 2012 to $5,255.64 in 2021. The most significant jumps occurred between 2017 and 2018, suggesting a notable reassessment or shift in property values. This trend potentially indicates rising property values and could influence decisions for those looking to invest, develop, or move to the region.
Percentage of Farm Returns in Lake County, FL Over the Last 10 Years
Lake County, Florida has seen a gradual but steady decline in the percentage of farm tax returns over the past decade. From 0.76% in 2012 to approximately 0.44% in 2021, the trend might suggest decreasing agricultural activity or shifts in economic focus. Farm tax returns typically indicate the presence of farming-related income and by extension, the vitality of the local agricultural sector. This decline could be critical for potential investors, property developers, and residents seeking to understand the evolving economic landscape of Lake County.
Number of Mortgages by Occupancy Type in Lake County, FL Over the Last 5 Years in Lake County
Over the last five years in Lake County, Florida, mortgages for principal residences consistently outnumbered those for investment and second residences by a large margin. However, a noticeable dip occurred in 2022 for principal residence mortgages, aligning with an observed rise in investment property and second residence purchases. This shift might indicate changing housing demand and possibly evolving economic conditions, directly impacting real estate market dynamics. Understanding these trends helps investors, real estate agents, appraisers, and insurance agents better gauge property value volatility and risk, while also assisting builders and prospective residents in making more informed decisions.
Economic Outlook
Lake County, Florida has seen a consistent rise in average taxable income per tax return, growing from $48,637.14 in 2013 to $71,376.51 in 2021. This steady increase suggests promising economic opportunities, potentially attractive to investors and new residents. However, the area has also experienced a significant spike in state and local income taxes per tax return, from $6,650.90 in 2012 to $11,004.80 by 2021. Coupled with a corresponding rise in total tax liability, from $7,244.19 in 2012... Read more
Average Taxable Income per Tax Return in Lake County, FL over the last 9 years
The average taxable income per tax return in Lake County, FL has shown a steady increase over the past nine years, rising from $48,637.14 in 2013 to $71,376.51 in 2021. This consistent growth highlights a promising economic trend, making the area appealing for prospective investors, home builders, and new residents seeking promising financial opportunities.
Average State and Local Income Taxes Per Tax Return in Lake County, FL Over the Last 10 Years
Lake County, Florida has seen a noticeable increase in state and local income taxes per tax return over the past decade. Starting from $6,650.90 in 2012 and climbing to $11,004.80 by 2021, this rising trend indicates a growing fiscal burden for residents. This escalation in tax levels could impact affordability and the financial attractiveness of the area for potential investors or those looking to relocate.
Average Total Tax Liability Per Tax Return in Lake County, FL Over the Last 10 Years
Over the past decade, the average total tax liability per tax return in Lake County, Florida has shown a consistent upward trend. From $7,244.19 in 2012 to a notable increase reaching $11,095.26 by 2021, this growth reflects robust economic activity and possibly rising incomes in the area. Such trends can be crucial for potential investors, homebuilders, and those considering a move, indicating strong fiscal health and an expanding tax base.
Cost of Living in Lake County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,828 | $1,568 | $1,901 | $973 | $1,063 |
| 1 adult 4 children | $1,828 | $1,281 | $1,454 | $973 | $1,192 |
| 2 adults 3 children | $1,828 | $1,281 | $1,650 | $973 | $870 |
| 1 adult 3 children | $1,828 | $1,046 | $1,202 | $973 | $966 |
| 2 adults 2 children | $1,432 | $1,049 | $1,398 | $841 | $717 |
| 1 adult 2 children | $1,432 | $783 | $951 | $841 | $687 |
| 2 adults 1 child | $1,432 | $829 | $1,147 | $411 | $713 |
| 1 adult 1 child | $1,432 | $535 | $699 | $411 | $589 |
| 2 adults | $1,260 | $666 | $895 | $0 | $657 |
| 1 adult | $1,185 | $363 | $448 | $0 | $569 |
Safety trends & Data
Lake County, Florida, has experienced significant changes in property crime rates over the past years. Larceny-Theft incidents dropped from 912.00 in 2019 to just 13.00 in 2021, before slightly rebounding to 68.00 in 2022. Burglary rates also declined from 178.00 incidents in 2019 to 3.00 in 2022. Fraud cases have seen a sharp decrease, from 157.00 in 2019 to just 1.00 in 2021. These shifts could make the area more appealing to real estate investors and developers, although insurance risk... Read more
Property Crime Trends in Lake County, FL Over the Last 4 Years
Lake County, Florida, has experienced noticeable fluctuations in property crime rates over the past four years. In 2019, Larceny-Theft was significantly high at 912.0 reported incidents but dramatically dropped to 749.00 in 2020. Over the same periods, Burglary incidents slightly decreased from 178.00 to 177.0, and Fraud cases dipped from 157.0 to 102.0. Interestingly, 2021 saw a curious decline across most categories, with Larceny-Theft plummeting to just 13.0 incidents and Fraud at 1.0. By 2022, Burglary reduced to 3.0 incidents, and Larceny-Theft saw a small rebound to 68.0 cases. These nuanced shifts may make the county increasingly attractive for potential real estate investors and developers, although insurance agents might need to adjust risk assessments accordingly.
Demographics
Lake County, Florida showcases a slightly higher female-to-male ratio within its adult population, signaling potential influences in social and economic sectors. The county's education landscape reveals a strong trend toward high school graduation, though a jump to higher education isn't as prevalent which could impact local job markets and income levels. Age distribution skewing towards older residents might imply a higher demand for healthcare and senior services. Predominantly White, the... Read more
Race Distribution in Lake County, Florida (2022)
Educational Attainment in Lake County, Florida (2022)
Age Distribution in Lake County, Florida
Citizen Population in Lake County, Florida (2022)
Political Trends & Data
Lake County, Florida, showed a significant lean towards the Republican party in the 2020 presidential election, with 59.5% of the vote, indicating a possibly strong conservative base. Democrats garnered nearly 40%, which suggests a notable level of bipartisan engagement. Minor parties like the Libertarians and Greens only secured a fractional percentage of votes, reflecting potentially limited local traction for third-party... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Lake County, Florida, showcased a significant lean towards the Republican party in the 2020 presidential election, with around 59.5% of the vote possibly suggesting a strong conservative base. Democrats garnered nearly 40%, which, although less dominant, indicates a potentially notable level of bipartisan engagement. Minor parties like the Libertarians and Greens only managed to secure a fractional percentage of the votes, which might reflect limited local traction for third-party platforms in this area.
59.56% of voters voted for the Republican party in the 2020 Presidential Election
39.52% of voters voted for the Democrat party in the 2020 Presidential Election
0.66% of voters voted for the Livertarian party in the 2020 Presidential Election
0.12% of voters voted for the Green party in the 2020 Presidential Election
0.15% of voters voted for the Other party in the 2020 Presidential Election
School Data
Lake County, Florida's student-to-teacher ratio has fluctuated over the past decade, peaking at nearly 18 students per teacher in 2014 and currently hovering around 17. This is above the national average of 14, suggesting potential impacts on education quality, which could be a critical factor for families considering a move. These trends offer valuable insights for real estate agents, appraisers, and investors, as educational pressures can influence property values and demand. Insurance agents... Read more
Student-to-teacher ratio in Lake County, Florida over the last 10 years
Over the last decade, Lake County, Florida's student-to-teacher ratio has fluctuated, reaching a low of 15 students per teacher in 2018 and peaking at nearly 18 students per teacher in 2014. Currently, the ratio stands at almost 17 students per teacher, which is above the national average of 14. This higher ratio could potentially impact the quality of education, as smaller classes often allow for more individualized attention, an important consideration for families moving to the area. For real estate agents, appraisers, and investors, this trend offers insight into local school system pressures, potentially affecting property values and demand. Insurance agents may also find this information relevant when assessing risks and values tied to school-related factors in the community.
