Lafayette County Real Estate and Livability Trends
Lafayette County, Florida, has seen a significant rise in average taxable income per tax return, hitting $49,994.93 in 2021, hinting at economic growth that could attract investors and new residents. Median home values increased from $100,600 in 2020 to $118,600 in 2022, adding to its appeal as an affordable alternative within Florida, where the median is $292,200. However, real estate taxes... Read more
Lafayette County Market Trends
Lafayette County, Florida, exhibits a unique real estate landscape where median home values rose from $100,600 in 2020 to $118,600 in 2022, contrasting with Florida's median of $292,200. This affordability could attract investors or new residents looking for budget-friendly options. Real estate taxes have also fluctuated, with significant jumps, like reaching $2,960.00 in 2021, likely affecting... Read more
Median Value of Occupied Housing Units in Lafayette County, Florida Over the Last 8 Years
Lafayette County, Florida, has seen some fluctuations in median home values over the past eight years, with a notable increase from $100,600 in 2020 to $118,600 in 2022. This trend contrasts with the more consistent and substantially higher rise in Florida's overall median home values, which reached $292,200 in 2022. Compared to the national median home value of $179,400 in 2022, Lafayette County homes appear significantly more affordable, making it an intriguing option for those looking to invest, move, or build property in a relatively lower-cost area within Florida.
Average Real Estate Taxes Per Tax Return in Lafayette County, FL Over the Last 10 Years
Over the last decade, real estate taxes per tax return in Lafayette County, Florida have shown considerable fluctuations with notable increases in recent years. In 2018, there was a significant spike to $2816.67, followed by another jump in 2021 reaching $2960.00. This trend suggests higher property valuation or changes in tax rates, making it crucial for potential investors, homeowners, and developers to consider these costs when planning financial commitments.
Percentage of Farm Returns in Lafayette County, FL Over the Last 10 Years
Over the past decade, Lafayette County, Florida has seen fluctuating percentages of farm tax returns, peaking at around 10.29% in 2012 and dipping to a low of 6.59% in 2020. Farm tax returns, which involve filings related to agricultural income, can reflect how much the local economy leans on farming as a source of revenue. Investors, developers, and residents might note these shifts as indicative of broader economic transitions, potentially driven by market conditions, demographic changes, or shifts in agricultural viability. The gradual decline may suggest a move away from agriculture or challenges within the sector, which could influence land use and property values in the county.
Number of Mortgages by Occupancy Type in Lafayette County, FL Over the Last 5 Years in Lafayette County
Lafayette County, located in Florida, has shown varying trends in mortgage counts across different occupancy types over the past five years. Principal residences significantly outnumber investment properties and second residences each year, with a notable dip from 232 mortgages in 2021 to 181 in 2022. Investment properties and second residences show relatively stable, low counts, highlighting a consistent preference for principal residences. This distribution matters as it indicates market stability and appeal for primary living spaces, which can impact property values, insurance premiums, and investment opportunities. Investors might find limited but consistent opportunities in the area, while those building or moving should note the strong demand for homes meant for primary occupancy. Understanding these trends can help appraise real estate more accurately, tailor insurance offerings, and make informed decisions on property development or purchase in Lafayette County, Florida.
Economic Outlook
Lafayette County, FL, has experienced a notable rise in average taxable income per tax return, reaching $49,994.93 in 2021. This trend implies growing economic vitality, making the area appealing for new investors and residents. Alongside this, the total tax liability per tax return also increased to $6,774.40 in 2021, hinting at rising incomes or shifts in tax policies. These factors could impact overall costs and future property values, suggesting a changing economic landscape worth... Read more
Average Taxable Income per Tax Return in Lafayette County, FL over the last 9 years
Lafayette County, FL has seen a notable increase in average taxable income per tax return over the past nine years, with a significant jump to $49,994.93 in 2021. This trend indicates growing economic vitality in the area, suggesting positive conditions for new investors and potential residents. The fluctuations are also relatively mild, reflecting stability in taxable income trends and making the county an attractive option for long-term commitments, whether it's building property, moving, or starting a business.
Average Total Tax Liability Per Tax Return in Lafayette County, FL Over the Last 10 Years
Lafayette County, Florida has seen a fluctuating but generally upward trend in average total tax liability per tax return over the past decade, peaking sharply at $6,774.40 in 2021. This increase, especially the significant jump in the most recent year, might indicate a rise in income or shifts in tax policy affecting residents. Investors and potential homeowners should note these tax trends as they could impact overall costs and economic stability in the area. Additionally, the data suggests a changing economic landscape that may hold implications for future property values and local financial planning.
Cost of Living in Lafayette County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,120 | $1,436 | $2,372 | $1,330 | $1,038 |
| 1 adult 4 children | $1,120 | $1,172 | $1,818 | $1,330 | $1,115 |
| 2 adults 3 children | $1,120 | $1,173 | $2,056 | $1,330 | $815 |
| 1 adult 3 children | $1,120 | $958 | $1,502 | $1,330 | $872 |
| 2 adults 2 children | $904 | $960 | $1,740 | $1,169 | $711 |
| 1 adult 2 children | $904 | $717 | $1,186 | $1,169 | $662 |
| 2 adults 1 child | $904 | $759 | $1,423 | $649 | $679 |
| 1 adult 1 child | $904 | $490 | $870 | $649 | $556 |
| 2 adults | $777 | $610 | $1,107 | $0 | $590 |
| 1 adult | $773 | $332 | $554 | $0 | $513 |
Safety trends & Data
Lafayette County, Florida has witnessed notable fluctuations in property crime, with larceny-theft incidents jumping from 5.00 in 2019 to 11.00 in 2020, signaling a potential need for improved security measures. Burglary cases saw a minor rise from 4.00 to 5.00, while vandalism decreased from 3.00 to 1.00 over the same period. Despite overall modest crime rates, these trends suggest emerging challenges that could influence investor and resident... Read more
Property Crime Trends in Lafayette County, FL Over the Last 2 Years
Lafayette County, Florida has seen some fluctuations in property crime over the last couple of years that may concern or interest potential investors and residents. Notably, larceny-theft incidents increased significantly from 5.00 in 2019 to 11.00 in 2020, which could indicate a growing need for enhanced security measures. Burglary cases rose slightly from 4.00 in 2019 to 5.00 in 2020, and there was a drop in vandalism from 3.00 to 1.00 during the same period. Although overall crime rates remain relatively modest, these trends may suggest emerging challenges that local authorities and community planners need to address.
Demographics
In Lafayette County, Florida, the balance between male and female residents appears to be skewed, with a notably larger male population. When examining educational attainment, a significant portion of the population holds only a high school diploma, suggesting possible areas for educational improvement initiatives. The age distribution shows a fairly even spread across different age groups, but with fewer residents in the youngest and oldest age brackets. Racially, the county seems... Read more
Race Distribution in Lafayette County, Florida (2022)
Educational Attainment in Lafayette County, Florida (2022)
Age Distribution in Lafayette County, Florida
Citizen Population in Lafayette County, Florida (2022)
Political Trends & Data
Lafayette County, Florida, leans heavily Republican, with over 85% of votes cast for the GOP in the 2020 Presidential Election, while the Democratic vote share is around 14%. The minor parties, such as Libertarian and Green, barely registered, highlighting a strong two-party dominance. These deeply rooted political preferences might also influence local elections and policy... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Lafayette County in Florida tends to lean heavily Republican, with over 85% of votes cast for the GOP in the 2020 Presidential Election. This is significantly higher than the Democratic vote share, which hovers around 14%. Minor parties like Libertarian and Green barely registered, suggesting a strong two-party dominance. This voting pattern could imply deeply rooted political preferences that might influence not just national but local elections as well.
85.51% of voters voted for the Republican party in the 2020 Presidential Election
13.94% of voters voted for the Democrat party in the 2020 Presidential Election
0.38% of voters voted for the Livertarian party in the 2020 Presidential Election
0.05% of voters voted for the Green party in the 2020 Presidential Election
0.11% of voters voted for the Other party in the 2020 Presidential Election
